Why I bought more Billing Services

Somewhere in Aldershot in a Nissen hut, a door, marked Legal Secretariat, is knocked:

“Permission to speak, Sir”

“Yes, what is it Atkins?”

“It’s my pay slip, Sir”

“And?”

“I only get £10 this month”

“And?”

“Well, it shows a deduction for £3,600 to pay for counsel”

“Yes?”

“It’s not Woking District Counsel is it?

“No, of course not, it’s one of Phil Shiner’s chosen specialists”

“Phil Shiner? Who is he?”

“He is the solicitor who acts for the people who set out to kill you”

(Gulp). “And why the £3,600 including Vat?”

“Oh, the £600 Vat goes to pay your salary. The £3,000 is exceptional value. Or that is what it says here in the briefing sheet from the MoD.”

*****

Billing Services (BILL) announced about six weeks ago that it was discontinuing relations with a Local Exchange Carrier (LEC). This knocked the priced 35%. Yesterday’s results statement cheerfully got on top of this setback and reminded investors that the handling of mobile traffic and wi-fi is developing. Seemingly, BILL is making a profit, it has no debt and is capitalised at, possibly, twice net tangible assets and four times post tax profits. I just had to buy more at 3.5p. 4.5p looks okay too.

*****

You may have wondered why C4 is paying £25m for Bake Off which the BBC cannot possibly afford. Apparently, it’s all a question of product placement. So, when you see Paul Hollywood’s glistening hair, you think Brylcreem. And so on and so forth. Or so I am told.