Cash flow check on accounting
Cash flow from operations or free cash flow? Pardon the technical post and the prosaic title, but I hope it will explain why I rejected Smith & Nephew but retain [...]
Casting (some) doubt on Castings
Paragon is leaking cash One of the things that attracts me to Castings is that listen to the doomsayers, it oughtn’t to exist. It’s a British manufacturer of iron castings [...]
Get your good companies at cheap prices here
Thrifty 30 members Colefax, Castings and Haynes Publishing grace the tables It’s reassuring to see seasoned Thrifty 30 members Castings and Haynes Publishing gracing the Thrifty and Nifty screens this [...]
News in brief: Recovery on track for T30 members
Prices don’t encapsulate all knowledge Judging by the price charts of some Thrifty 30 members it looks like my next review of the portfolio is going to be an uncomfortable [...]
Standing by Castings
A long and winding road
Last October, I added Castings (CGS) to the Thrifty 30 portfolio when its market, iron castings and components for vehicles, had collapsed.
Sales were down 15% and profitability (return on total assets) had fallen sharply. Casting’s manufacturing sites were operating at 50% of their capacity, it had laid off 350 employees,...
Casting around for value
In practice:
The contrarian’s sector
As contrarian ideas go, the auto industry is hard-core, yet, despite having added engineering consultancy Ricardo to the Thrifty 30 model portfolio last week I haven’t finished with the sector.
While some manufacturers have maintained their research and development efforts to design leaner, cleaner vehicles, shielding Ricardo from the worst of the...
