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Did the last results warrant a 35% decline in share price?
How much damage did Phil and Nick do to this company?
What a strange (excessive) amount of low volume sell trades today, practically all of them below 500 shares each, it's almost as if someone was deliberately trying to lower the bid price???
I certainly agree Chrisjse, but obviously Mr. Parker does not ! Sad to see him selling so soon after his purchase.
I would have thought significantly reduced borrowings was very positive!
Suprised this chat is so quiet following interim results, not much positive to take out of that except the aerospace increase, shame it's such small section of the company.
I keep looking in at this company and it's clearly struggling but surviving and limping along. Talk of hoping or suggesting financial year 2025 will bring in more blue chip customer orders when markets are expected to recover.
I think the 'market' was hoping for better and I don't know what needs to be done to turn this around to what looked like better days. Listed company since 1988?
A good achievement in a tough year:
"We made excellent progress on the key strategic goal of improving the Group's cash generation with cash generated from operations of £11.4 million (H1 2023: £0.5 million)"
Carclo’s market in medical devices is projected to grow to over £700 billion which considering they have a valuation of £8 million makes for incredible potential.
If the settlement payment has put a big dent in their debt and their margins have improved the next results updates could be the start of a major upgrade!!
Get in early before the rise.
If they can get the share price up to a £1 the directors can award themselves as many shares as they like!
Seems positive.
Using the contract compensation to boost the bank account seems very sensible.
163k buy trade completed above the ask, and the stock ends down. no corresponding reported sell volume. seriously ****e level of transparency for a company with a full lse listing.
… and revenue is forecast to rise to £155M and £166M.
Hi M, in short, no. They don’t quote who (brokers) are quoting what. All I know is that since the results the forecast profit, eps etc has moved from 2023 & 2024 to 24 and 25.
Am very suspicious about these revised forecasts, do you not have more detail as to exactly which brokers have made the forecasts ?
I subscribe to Stockopedia.
Hello Beza, where exactly did you find these revised broker forecasts, because I am of the opinion that not one single broker has put a forecast out in the wake of the recent figures. I will be very happy to be proved wrong !
Interesting to note the revised broker consensus forecasts, which have been updated after the recent results. 2024 profit predicted at £3.3M giving an eps of 4.5p and for 2025 its £5.8M with 7.8 eps. It’s the debt that’s the concern.
15.5% spread !!
Frank speaks positively about the next 12 months but the results illustrate the challenge
Tough 2022, improved outlook in 2023 with a reduction in IAS19 pension deficit the best this will get to I suspect —
Are we due good news tomorrow? What is needed to turn this company around?
I guess steady boring growth. Trouble is we never see this.
The 3 year chart looks nice for a revers of the curve, and is that a shallow double bottom too?
Today's announcement seems to confirm my thought that the compensation payment was significantly less than £10m It was a framework agreement and not a cancelled order. I suspect the get out clauses for the customer may have meant that they were not contractually bound to much if anything. Carclo were paid for the work they did but had also incurred expense in putting the production capacity in place to be able to fulfil it. They say they've "reallocated to enhance projects with existing strategic partners." I'm hoping that this will improve the margins on those contracts by newer more efficient equipment and also leave spare capacity for new business. I got the impression that the 'leading global OEM ' was an existing Carclo customer before the 'Framework Agreement' but on rereading December 2020 announcement I can't see that mentioned. Am I reading into things something that wasn't there or was there some other mention? If they were previously a customer of Carclo for other products I wonder if they remain so?
Splendid news!
"Carclo Plc (LSE: CAR) is pleased to announce a positive conclusion to commercial discussions with a leading global OEM related to the cancellation of a future supply contract referred to in the Group's announcement on 7 December 2022.
The original ten-year Framework Agreement, announced in December 2020, covered the supply of a range of components for use in laboratory-based PCR diagnostic systems and was projected to deliver incremental sales of between by £10m to £15m annually.
Following the completion of the design and engineering phase, a contraction in the end-market demand for COVID testing influenced the customer's decision to suspend progression into the production phase. Despite this, Carclo has largely fulfilled and received payment for its design and engineering phase.
The Group has now signed a mutually satisfactory settlement agreement with the customer concerning working capital and recompense for business disruption. While the specifics of this agreement remain confidential, it is expected to largely offset the Group's financial exposure arising from the early termination of the contract.
Carclo has also rapidly implemented a plan to repurpose the production capacity assigned to this project. The majority of the capital investments, inclusive of infrastructure such as buildings, clean rooms, and state-of-the-art equipment, have been reallocated to enhance projects with existing strategic partners.
Frank Doorenbosch, CEO, reflected on the situation: "The cancellation, though regrettable, has served to highlight Carclo's capacity for agility and resilience. We have responded promptly, optimising our asset utilisation whilst continuing to focus on our strategy on stability and balance sheet fortification. These actions demonstrate our unwavering commitment to delivering securing long-term shareholder value." "
This is taking a considerable amount of time to come to an agreement so I presume it must be a considerable amount that they are discussing .The contract was was for over 10 years so while it is purely a guess it could be in excess of £10 million .
These new high profile investors are probably able to access such payments and realise there is a generous payment coming .