Holders Technology: a Graham net-net on AIM

Holders Technology (company website) is a supplier of special laminates and materials for printed circuit boards and is also a LED solutions provider to lighting and industrial markets. Holders Technology is a Graham net-net: Share price: 48.50p Shares outstanding: 3,939,551 Market cap: £1.91 million NCAV 05-31-2014: £4.08m Cash and cash equivalents 05-31-2014: £0.73m Total liabilities […]

Three Greek microcaps trading below book value

I’ve written about a few Greek stocks already: AS Company, Stelios Kanakis and Kleemann. Greece continues to be a place that most value investors seem to avoid like the plague. One problem with investing in Greek small caps is that most of them only publish their financial reports in Greek. Google Translate does a reasonable […]

Śnieżka: a quality company in Poland

Fabryka Farb i Lakierów Śnieżka S.A. (Śnieżka for short) is a company that produces and sells paints and varnishes in Poland and Eastern Europe. Śnieżka showed up in a screen I ran a few months ago and I was impressed with what I saw. Unfortunately the stock didn’t look particularly cheap at that time, so […]

Despec: a net-net at 4x earnings

Despec (company website) is a Turkish company that distributes consumables for the IT sector. The full name of the company is Despec Bilgisayar Pazarlama ve Ticaret AS and the ticker is DESPC:IST. Annual reports in English can be found here. You need to click on “2012 Operation Report” and then you’ll be able to download […]

Stelios Kanakis SA

Stelios Kanakis (company website) is a Greek company that distributes ingredients for confectionery and bakery products. A listing of these products can be viewed here. The company uses two large distribution centers and a number of co-operative distributors to distribute the ingredients to the approximately 2150 customers (in 2012). No customer accounts for more than […]