Bilby was formed in 2014 to acquire businesses in the gas and general building services industries. The Group’s strategy is to create an organisation that will meet the continued demand for high quality improvement and maintenance services in public sector housing.


Bilby currently owns 100% of P & R Installation Co Ltd (P & R), an established and award winning provider of general building and gas maintenance services. The business works predominately with local authorities and housing associations across London and South East England. P & R was founded in 1977, by Bilby’s Deputy Executive Chairman Phil Copolo as a gas installation company. Since then P & R's services have grown to include general building services.

Our services include:
Contracted building maintenance
Gas installation and maintenance
Electrical services
Plumbing installation and maintenance
Water management
Roofing
Carpentry
Painting & decorating
Tiling
Emergency callouts



Admission to AIM and First Day of Dealing 02.02.15

http://www.bilbyplc.com/index.html

ST of IC today - Upgraded target price

The bottom line is that having initiated coverage on Bilby's shares at 75p a couple of months ago ('Buy-to-build' growth play, 18 May 2015), targeting fair value of 100p, and subsequently recommended running profits at the time of the full-year results when the price was 97p ('Soaring small caps', 24 Jun 2015), this game-changing deal warrants a major upgrade in my price target.

In fact, I feel that a fair value price of 120p, or 12.5 times fiscal 2017 EPS estimates, is more than warranted given the scope for Bilby to win contracts that it was previously precluded from tendering for, and for earnings upgrades as cross-selling and synergy benefits from the Purdy acquisition materialise. Mr Smith at Charles Stanley has upgraded his target price from 100p to 115p, so I am a tad more bullish.

With the shares offered in the market on a bid-offer spread of 85p to 90p, I have no hesitation upgrading my recommendation to an outright buy given there is potentially 33 per cent share price upside on offer. Buy.

bilby-delivers-buy-and-build-promise

Bilby PLC (BILB:LSE) set a new 52-week high during today's trading session when it reached 120.00. Over this period, the share price is up 81.60%.

Shares - third best IPO of the year, up 74.1% since admission on 6 Mar 15

ST of IC today - Offering 36 per cent upside to my new target price of 175p, equating to 13 times likely earnings for the 2016/17 financial year, I rate Bilby’s shares a strong buy ahead of imminent analyst upgrades and the full-year results. Buy