Professor Glen Arnold

The last two newsletters showed that Wynnstay’s shares (LSE:WYN) are selling cheaply compared with proven earnings over ten years and that it has some competitive advantages in the territories where it is the leading supplier. Wynnstay’s market capitalisation is £62.4m at £3.17 per share. Piotroski Analysis Positive net income? Yes. Positive cash flow from operations? […]

Wynnstay Group’s (LSE:WYN) shares have suffered over the last three years because farmers have little clarity over what type of business environment they will be trading in a few months down the line. The company was set up 100 years ago as a farmer’s cooperative to supply items such as feeds, fertilisers and seeds.  It […]

I’ve bought shares in Wynnstay Group (LSE:WYN – not Wynnstay Properties) at 317.4p. The investment case for this company is largely based on its historical performance in terms of earnings and dividends as well as the expectation that the non-farming part of its business will be mostly unaffected by Brexit. However, the deciding factor is […]

Happy New Year. This is a good time of year to look at how my share purchases are performing. The tables below show the results (so far) of the shares bought for the portfolios I’ve been writing about in my Newsletters. The comments I made at the time explaining the rationale for each investment are available […]

Dewhurst (LSE:DWHA) has a lot of assets (and no debt) backing its 8.4m shares.  When viewing the key numbers below consider that the “A” shares (non-voting) are currently trading at £7.50 – £8.50. Market capitalisation is £76m with the 3.3m Ordinary shares at £11 and the 5.1m “A” shares at £8.50. Balance sheet strength (September […]

Dewhurst (LSE:DWHA) has a number of niche manufacturing and distribution business with many displaying high market shares, strong reputations and long-standing relationships with customers and the agents of clients (e.g. an architect specifying Dewhurst lift components for new high rise building). The UK and European businesses Dewhurst UK Manufacturing What it does: Pushbuttons, e.g. those...

Dewhurst (LSE:DWHA) has been a very good share for me, rising from 311p to 750p–850p in five years.  Throughout that rise I’ve bought more at increasing prices because the company’s economic franchises are strong, forming a firm foundation for future growth of profits. But the shares have risen a lot in the last year.  So, […]

Last week Dewhurst (LSE:DWHA) reported some good results with underlying profits (including profits from a subsidiary sold at yearend) up from £4.5m to £5.6m in a year of disruption caused by a major acquisition. In addition, it made a profit by selling a subsidiary for £6m more than its book value.  Including these extra gains, […]

The key person at Northamber (LSE:NAR) does not yet have a Board seat. Alexander Phillips has been working for the family company for six years and my guess is that he, his sister and mother will have control over the company through a 63% holding.  It’s worth taking a look at Alex’s background. Alexander Phillips […]

Northamber’s (LSE:NAR) previous board of directors were well aware of the company’s cash tied up in property – over £16m for a £13.8m MCap company.  But instead of releasing that cash for shareholders to invest elsewhere they insisted that it would be used to invest in the operating business.  Today we’ll look at that operating […]