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James Bevan on cybersecurity, banks and the housing market


Aukett Fitzroy Robinson Share Chat (AUK)



Share Price: 3.00Bid: 2.75Ask: 3.25Change: 0.125 (+4.35%)Riser - Aukett Swanke
Spread: 0.50Spread as %: 18.18%Open: 2.875High: 3.00Low: 2.875Yesterday’s Close: 2.875


Share Discussion for Aukett Fitzroy Robinson


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bear17
Posts: 2
Off Topic
Opinion:Strong Sell
Price:2.375
AUK Loss for Half Year: Shares Dive
12 May '17
……….Just as I forecast on 12 January 2017

Net Funds @ 600k, sinking fast. Cash is king, and it is sinking…

Losses everywhere: UK, UAE, Germany, Turkey

350k outgoings per week, leaves AUK with Net Funds of less than 2 weeks outgoings.

No mention of projected full year numbers, but with Brexit in full swing, AUK’s main source of revenue from the UK [65% of group income] will be under considerable strain.

UAE High End Office rentals forecast to fall as current office projects are being completed in 2017. Hard to see where the normal commercial AUK work will come from in the UAE. Business Bay just completed, and the other large projects in Abu Dhabi already have signature architects appointed. In retail, Mall of the World and Yas Island Development architects already in position. Large hotel projects Al Habtoor City, Jewel of the Creek, Paramount and Viceroy also already have architects engaged. AUK up against world class signature architects…..will they be able to attract clients?

Predictions of a Loss for Full Year, Net Cash back to zero, More Staff Reduction costs to come?

AUK = Overstaffed, Poor Fee Levels, Unproductive, Poor Earnings/Head.

Far too uncertain to invest in this one…..
 
threeputt
Posts: 2,736
Off Topic
Opinion:No Opinion
Price:2.875
...
11 May '17
Looks like I was right to exit this when I did by the looks, albeit somewhat late
good luck to remaining holders
Thechukkers
Posts: 8,371
Off Topic
Opinion:No Opinion
Price:3.125
...
22 Mar '17
back in 2013 the group made half in revenues what they make now, yet the share price has tumbled to the same level. nothing is certain, removing of dividends is obviously not a good sign, but i think it has good potential on this level
TruroTrader
Posts: 418
Off Topic
Opinion:No Opinion
Price:3.25
RE: AUK 2016 Results
18 Feb '17
Possibly a little harsh bear.

If It's true that lots of shares are held by older directors and retired directors then this is good. I can sell my shares at a profit and I've not been here long.

It therefore follows that older shareholders are also in profit and consequentially the longer they hold the better they think it will be. These Directors possibly know more about future prospects than your or I combined!!.
bear17
Posts: 2
Observation
Opinion:Strong Sell
Price:3.125
AUK 2016 Results
12 Jan '17
In 2016, UK remained the main income source with 65% of the groups income, despite all the ‘international’ hype. The UK income was dropping fast, and so was the UK profit. Q1 2017 looks to be a loss it would seem. Middle East & Europe was only 35% of the pot in 2016, but combined, contributed zero profit. CEO suggests “we do not expect any contribution in profit terms from the UK until the second half.” Basically they have no idea what the second half will look like, as they will have to see what new instructions land: they should have said so! With a Hard Brexit a near-certainty, what Developers will be progressing projects without Pre-Lets: projects going to the construction phase may dry up. It is clear that the CEO is giving clear signals that profits in the UK will be very, very difficult to maintain and they want to conserve cash. [eg. no div]. 260k pa loan repayment over the next five years paid on an architectural practice in the Middle East making little or no profit! Not sure: Where do they get the cash to repay the debt when they are potentially making no profit??? With only 800k in cash, and 350k per week outgoings, it does not take a genius to see that things may get bleak – very quickly. I predict losses 2017, increased bank borrowings, more UK staff reductions – they need to get well below 120 in the UK to match other architects earnings/head. [>100-125k/head] AUK only showing 4% profit, when many others are currently at 25-30%.....AUK must be overstaffed and must be under bidding, and generally very unproductive compared to their peers. Junior Fee Earners own little or no stock. Lots of shares held by 60+ year old Directors soon to retire or retired former directors holding stock with no one to sell to, it would seem?.....Incentive to next generation simply not there……Model Broke….. Bear…… Strong Sell
threeputt
Posts: 2,736
Off Topic
Opinion:No Opinion
Price:3.125
RE: Harsh
12 Jan '17
not so sure, blaming Brexit when it hasn't hurt many others ?
removing the dividend ?
DrMaccers
Posts: 1,968
Off Topic
Opinion:No Opinion
Price:3.125
Harsh
12 Jan '17
So on a PE of 6.8 with £1.8mill in cash? Hardly the worst results given it was over brexit. Silly drop and even more undervalued! Should bag from here
DrMaccers
Posts: 1,968
Off Topic
Opinion:No Opinion
Price:3.50
Bit of interest
11 Jan '17
Bit of interest today pre results. Failure is priced in. Work out the PE on results and read the Outlook carefully. Very likely good value at this level.
January
Posts: 2,882
Off Topic
Opinion:No Opinion
Price:3.50
The dividend paid
11 Jan '17
is around 5% from memory. I am forecasting good results and a rise tomorrow !
DYOR
January
Posts: 2,882
Off Topic
Opinion:No Opinion
Price:3.375
Someone
10 Jan '17
And still pay the dividend !
I actually think they could be good.
The £ went down in June. Secondly businesses in the UK seemed to return to normal after the Brexit vote. I am hoping the cheaper £ means the P&L and thus balance sheet have seen improvement
As you say it is a gamble !




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