Waterman (WTM)

[Back2Value]

Waterman (WTM) gave an in line with expectations update this morning, reported a small increase in its net cash position and a promise to increase the interim dividend to reflect the cash generative nature of the business. It all sounds fairly positive to me, but the market is unimpressed and the SP remains resolutely below the 94p I paid last March. At 82.5p the historic yield is about 3.6 percent.

Ultimately I expect to get back into the money on this company, hopefully before the next recession comes around!

B2V

[nk104]

Must admit I was reasonably happy. At least there were no wobbles and the net cash position is basically the same as last year.

[Back2Value]

Yes, I currently don't see anything to worry about beyond the ever-present possibility of a slowdown in business which was anticipated immediately after the EU referendum but which has so far failed to materialise.

Hopefully WTM can keep growing organically, but there also remains the possibility that a bigger group might see the company as an attractively priced bolt-on. There's been a lot of consolidation in this sector in the past. Here's hoping.

B2V

[deucetoace]

I expect nothing of significance this year (well I am hoping for a fall to buy some more) but growth should resume next year when they will yet again start to look cheap. I can't time when this will be so I am holding on. One day it will just jump up but I can'r predict when.