Cockerhoop
@ranmoorruffian.bsky.social
UK Based Full Time Small Cap Investor
Relatively concentrated Top 10 circa 90%
GDWN, MSI, ANP, RST, JNEO, AVG, ULTP, GAW, SYS1, BOOT (30th Sept 25)
I'm also a keen cyclist, sports fan and 'indie' music lover.
Relatively concentrated Top 10 circa 90%
GDWN, MSI, ANP, RST, JNEO, AVG, ULTP, GAW, SYS1, BOOT (30th Sept 25)
I'm also a keen cyclist, sports fan and 'indie' music lover.
And when Tim Goodwin made that statement in July he certainly would have had visibility on Mech Eng progress. As Kevin Rountree would say 'exciting times' #GDWN.L
November 14, 2025 at 8:53 AM
And when Tim Goodwin made that statement in July he certainly would have had visibility on Mech Eng progress. As Kevin Rountree would say 'exciting times' #GDWN.L
Not one I can take, it was already my largest holding before the stellar run of this year. I imagine the dip will be bought though and the special dividend hits holders accounts next Friday. With Mech Eng flying the bar for Duvelco to be 'the largest & most profitable business' is getting higher.
November 14, 2025 at 8:45 AM
Not one I can take, it was already my largest holding before the stellar run of this year. I imagine the dip will be bought though and the special dividend hits holders accounts next Friday. With Mech Eng flying the bar for Duvelco to be 'the largest & most profitable business' is getting higher.
A block of directors (including current execs) sold around 50,000 shares in October 2021. The tender offer @48 increased the family holding % and today's sale unwinds. Family holding still in the 52-54% band of recent years. #GDWN.L
November 14, 2025 at 8:08 AM
A block of directors (including current execs) sold around 50,000 shares in October 2021. The tender offer @48 increased the family holding % and today's sale unwinds. Family holding still in the 52-54% band of recent years. #GDWN.L
#GDWN.L Well it looks like Mech Eng isn't going to give up the title 'of largest & most profitable division' without a fight 😂. Incredible trading statement across both current divisions on Weds. Justifiable 20% rise on the day.
September 26, 2025 at 6:42 PM
#GDWN.L Well it looks like Mech Eng isn't going to give up the title 'of largest & most profitable division' without a fight 😂. Incredible trading statement across both current divisions on Weds. Justifiable 20% rise on the day.
....over the next 5 years and then model to Duvelco to surpass Mech Eng at that point profitability is obviously transformed. Lots of moving parts in my simple model but I'm certainly not selling on the current strength. #GDWN.L
September 9, 2025 at 6:18 PM
....over the next 5 years and then model to Duvelco to surpass Mech Eng at that point profitability is obviously transformed. Lots of moving parts in my simple model but I'm certainly not selling on the current strength. #GDWN.L
#GDWN.L Delayed but very strong response to the Finals (& associated commentary). The market seems to be taking onboard management narrative that they expect Duvelco to be 'the largest & most profitable division' in time. If you model Mech Eng to grow at 20%, Refractory at 10%........
September 9, 2025 at 6:15 PM
#GDWN.L Delayed but very strong response to the Finals (& associated commentary). The market seems to be taking onboard management narrative that they expect Duvelco to be 'the largest & most profitable division' in time. If you model Mech Eng to grow at 20%, Refractory at 10%........
Cardiff University will certainly bemoan the loss of a large dollop of invested cash 🫣
September 8, 2025 at 6:41 AM
Cardiff University will certainly bemoan the loss of a large dollop of invested cash 🫣
One of our club members is currently out there battling Storm Floris 😱
August 4, 2025 at 11:14 AM
One of our club members is currently out there battling Storm Floris 😱
Actually it was released at 12:12 Monday when the spread was 71-72.8p.
July 30, 2025 at 3:44 PM
Actually it was released at 12:12 Monday when the spread was 71-72.8p.
imo the family will never cede control and there's a long term PI who holds 7% so the free float will always be restricted. They won't need to raise to expand as the US DoD is funding future Capex 👀 #GDWN
July 30, 2025 at 9:07 AM
imo the family will never cede control and there's a long term PI who holds 7% so the free float will always be restricted. They won't need to raise to expand as the US DoD is funding future Capex 👀 #GDWN
......but can be really tight on occasions (if patient). Not sure it'll ever provide a consistent liquidity a trader requires but certainly it does get played on technical grounds by hedge funds due to it's illiquidity (e.g.stock shortage around index inclusion etc) #GDWN
July 30, 2025 at 9:03 AM
......but can be really tight on occasions (if patient). Not sure it'll ever provide a consistent liquidity a trader requires but certainly it does get played on technical grounds by hedge funds due to it's illiquidity (e.g.stock shortage around index inclusion etc) #GDWN
Liquidity is outside of my area of competence but it has clearly improved in recent times (it was 4-5 years ago kicked out of the FTSE All-Share on liquidity grounds).Obviously it has since returned to the All-Share and has been included in the 250. Spreads are variable ..........#GDWN
July 30, 2025 at 9:00 AM
Liquidity is outside of my area of competence but it has clearly improved in recent times (it was 4-5 years ago kicked out of the FTSE All-Share on liquidity grounds).Obviously it has since returned to the All-Share and has been included in the 250. Spreads are variable ..........#GDWN
Whilst it's always been clear when meeting management how bullish they are about the Duvelco business, today they have spelt it out for the market that they expect it to be the most profitable division which is quite some claim when Mech Eng is going gangbusters #GDWN
July 30, 2025 at 8:11 AM
Whilst it's always been clear when meeting management how bullish they are about the Duvelco business, today they have spelt it out for the market that they expect it to be the most profitable division which is quite some claim when Mech Eng is going gangbusters #GDWN
I do think it's one of the UK's few really special businesses. The FCF improvement is largely due to increased contract liabilities (customer advances). This trend could continue as the proportion of US Naval contracts ramp up. #GDWN
July 30, 2025 at 7:44 AM
I do think it's one of the UK's few really special businesses. The FCF improvement is largely due to increased contract liabilities (customer advances). This trend could continue as the proportion of US Naval contracts ramp up. #GDWN
Going forwards I understand they are going to attribute a value in the results narrative to the Hallam Land plots that have planning permission but yet to be sold. These are currently valued close to zero so potentially could further highlight the discount to assets #BOOT
July 9, 2025 at 9:23 AM
Going forwards I understand they are going to attribute a value in the results narrative to the Hallam Land plots that have planning permission but yet to be sold. These are currently valued close to zero so potentially could further highlight the discount to assets #BOOT
They've now moved into town Steve and sold the original sprawling HQ. The Agm was actually at the Double Tree on Bramall Lane having relocated from Meadowhead due to that venue looking a little tired and serving Treacle Tart rather than the required Treacle Pudding which was very negatively received
July 9, 2025 at 9:13 AM
They've now moved into town Steve and sold the original sprawling HQ. The Agm was actually at the Double Tree on Bramall Lane having relocated from Meadowhead due to that venue looking a little tired and serving Treacle Tart rather than the required Treacle Pudding which was very negatively received
So in summary I think #BOOT is just too cheap and have accumulated a position since the Agm and it's now just inside the Top 10 holdings. So maybe attending the Agm wasn't such a value play after all 😂
July 9, 2025 at 8:14 AM
So in summary I think #BOOT is just too cheap and have accumulated a position since the Agm and it's now just inside the Top 10 holdings. So maybe attending the Agm wasn't such a value play after all 😂