RGS’s (Regenersis) cofre business is repairing consumer electronics – basically, when you return faulty goods to your retailer/manufacturer, these are the guys that fix it.
Today TGS announced that it has established a new business unit: “Fully refurbished devices are increasingly being bundled with warranty extension services and insurance; Renew will, amongst other things, provide legitimate, quality refurbished devices to the end customer, as well as logistics and consultancy services – a new range of activity for Regenersis. In the last few weeks, Renew has won several new contracts with significant new activities for Telefonica in Spain; other clients in Poland, as well as the Phonehouse, Telefinance and Solid in Sweden.”
Looks good to me. According to Stockopedia, RGS has a forward PER of 11.2, and qualifies for the Tiny Titans and Value Momentum screen.
You may remember that I sold out of RGS last week to fund a purchase of TW (Taylor Wimpey). TW has been on a roll since I bought it, although it is too early to see if I’ll regret having made a switch. I think RGS is a company that is well worth looking into if you’re not familiar with it. There seems to be a lot of good things happening with this company, the managers seem rather cluey, and they have Hanover Investor Partners as a major shareholder.
The market reaction to the news has been a little bit “uppy and downy”, having been down as much as 0.8% earlier on. It now trades up 1.2%. It’s a share that seems to slip under most people’s radar.