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The Director's buy , coupled with being hugely oversold post-results, makes me think the trend line from recent months will be soon regained. Esp if ACE Winches starts to make the anticipated contribution.
They gave a statement in November about the acquisition of ACE Winches and a generalisation saying H2 will be ahead of expectations. What they have not done is release what the unaudited full year results are. This they did last year by January 16th. Why no results yet?
There was one last month so there isn't another scheduled until results in May.
The trading update should have been released by now, why the delay?
https://www.britishbulls.com/m/SignalPage.aspx?lang=en&Ticker=at.L
Hitting new highs aq earning enhancing
Some further coverage on AT. today here from 04:04 and 06:44:
https://www.**********.co.uk/articles/vox-markets-fund-manager-series-judith-mackenzie-of-downing-asset-management-f6461eb/
Simon Thompson is bullish on AT.
https://pdfs.investorschronicle.co.uk/Simon_IC_Alpha_025881_Sep2022.pdf
A bullish update from Ashtead Technology this week, together with a 42% rise from its November IPO at 162p (currently 230p).
18th Jan 2022 7:00 am RNS Year End Trading Update
"Strong performance for the full year following successful IPO in November 2021
Ashtead Technology Holdings plc (AIM: AT.), a leading subsea equipment rental and solutions provider for the global offshore energy sector, today provides an update on its financial performance for the year ended 31 December 2021.
The Company performed strongly throughout the year, benefitting from improving market conditions across both the Company's offshore wind and oil and gas end markets. Unaudited full year revenues are expected to be approximately GBP55m, up 30% on the prior year and ahead of the Board's previous guidance.
This outperformance was driven by both equipment rental and a higher than anticipated level of new equipment sales in the fourth quarter, driven by customer demand. Equipment rental has seen improved utilisation, and a recovery in pricing from the prior year impact of COVID-19.
The Company's margins were in line with its expectations when accounting for a slightly greater contribution from equipment sales. Accordingly, Adjusted EBITDA is expected to be modestly ahead of previous guidance with Adjusted EBITA comfortably ahead.
Allan Pirie, Chief Executive Officer, said:
"We are pleased with the full year performance which demonstrates the momentum in our business, delivering on what we set out at our IPO. We remain confident that Ashtead Technology is ideally positioned to support energy producers' transition to more renewable sources of energy and benefit from the global investment into offshore wind. We look forward to continued progress through 2022.""
https://www.lse.co.uk/rns/AT./year-end-trading-update-pb2ti8gvqsvdvii.html
AT.'s performance bodes well for related company OTAQ this year.
From AT.'s AIM admission document, 18.11.21 -
"Robust/resilient financial model generating high ROIC
Ashtead Technology’s strategy has driven significant financial growth prior to the COVID-19 pandemic. On a pro forma basisis6, revenue grew from £41.8 million in the year ended 31 December 2017 to £53.6 million in the year ended 31 December 2019, driven by organic growth and expansion into renewable energy services. Despite the impact of the COVID-19 pandemic on trading in 2021, the Group’s business has recovered well and revenue, Adjusted EBITDA and Adjusted EBITA for the 12 months to 31 December 2021 is expected to be not less than £52 million, £21.5 million and £12.8 million, respectively. This represents growth of approximately 23%, 26% and 104% respectively compared to the prior year. On a trailing 12- month basis to June 2021, ROIC has also recovered strongly to 11%, with pricing and utilisation also trending towards 2019 levels."
"6 Assuming all Group acquisitions completed on 1 January 2017"
https://www.ashtead-technology.com/wp-content/uploads/2021/11/Admission-Document_.pdf
https://www.ashtead-technology.com/investors-documents/
"We are Ashtead Technology, underwater technology solutions experts
Supporting the global offshore energy sector since 1985
Ashtead Technology is a leading international subsea equipment rental and solutions provider for the global offshore energy sector.
Through our three service lines – survey & robotics, mechanical solutions and asset integrity – we provide specialist equipment, advanced-technologies and services to support our customers’ renewable energy and later-life oil & gas projects."
https://www.ashtead-technology.com/