Stock data
| Market cap. | £25.9m |
| Last close | 15.50p |
| High / Low (52 weeks) | 16.8p / 11.8p |
| Stock market listing | AIM |
| Forecast net debt (m) | N/A |
| Forecast gearing ratio (%) | N/A |
| Team | Investment Companies & Trusts |
| Sector | Investment Companies |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | 0 | (1.59) | 29.17 |
| Relative * | (5.42) | (9.03) | 33.12 |
* % Relative to local index
Other companies covered in sector
| Y/E Dec | Revenue (£m) | EBITDA (£m) | PBT (£m) | EPS (p) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2009A | 662.1 | 39.0 | 13.7 | 1.0 | 15.5 | 22.8 |
| 2010A | 678.3 | 38.7 | 18.9 | 1.7 | 9.1 | 9.3 |
| 2011E | N/A | N/A | N/A | N/A | N/A | N/A |
| 2012E | N/A | N/A | N/A | N/A | N/A | N/A |
Last updated on 09/12/2011
Latest research
FY10 result and buyback
Update | Investment Companies | 14/04/2011
Proof of principle
Update | Investment Companies | 30/11/2010
Repositioning boost
Update | Investment Companies | 18/08/2010
TDG outlook improving
Update | Investment Companies | 19/05/2010
Active value strategy
Outlook | Investment Companies | 01/04/2010
Investment summary
The six months to end-June saw the sale of TDG for £208m (at a 30% IRR), followed by the return of £198m via a share buy-back. That provided strong endorsement of the investment template. At the mid-year the group had £15.1m of net cash, since supplemented by property sales in the second half. So it has seed capital for further investments, a number of which are under consideration. Any further funding required beyond that will be drawn from sources including majority shareholder Laxey Partners and, potentially, new external investors.
Last updated on 09/12/2011
Industry outlook
Group assets are largely cash and one minority (£1.3m) investment in a US social media business. We will resume forecasts in due course, as DouglasBay rebuilds its investment portfolio. DouglasBay is reviewing several prospects for its brand of opportunistic investment and hands-on, active operational and asset management. The TDG investment/sale represents the precedent for future acquisitions, fund-raisings and gradual increase in equity liquidity.
Last updated on 09/12/2011
Key management
| David Panter, Chairman |
| Alexander Paiusco, CEO |
| Geoff Bicknell, FD |
Company address
| Derby House, 4th Floor 64 Athol Street Douglas Isle of Man IM1 1LB United Kingdom +44 (0) 1624 690 904 View website |
