Small Cap Value Report (Tue 1 Dec 2020) - BILB, MERC, SOS
Good morning, it's Paul amp; Jack here with the SCVR for Tuesday. Jack has kindly agreed to take the lead in the morning, to give me a rest. Then I (Paul) will be passed the baton probably around mid-morning, to do the afternoon shift. Jack’s section Bilby (LON:BILB) Share price: 26.45p (+10.2%) Shares in issue: 58,721,845 Market cap: £15.5m Bilby (LON:BILB) provides gas heating and building services in London and the South East. It does a lot of work for housing associations and local authorities - areas driven by government standards and legislation that tend to lead to long-term customer relationships. Since its IPO in 2015, Bilby has acquired Pamp;R Installation, Purdy Contracts, Spokemead Maintenance and DCB. For all that though, it’s clearly been a rough ride for shareholders so far if you compare the 2015 IPO share price of 58p to today’s share price of 24p. Shares were closer to 150p at one point before falling dramatically in 2018/19. It’s a volatile performance and the stock is rightly classified as Highly Speculative, but you can see there has been buying at these levels from value hunters: