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My previous post may not have been clear so thought I would try to clarify. The company has previously stated that there is no over reliance on one customer for more than 10% of turnover (2018 accounts) this may have changed later. (I need to look into it if get the time but no real urgency to do so we know that the company is well managed and exercises good commercial sense in diversifying it's customer base). However, I didn't mention the 10% in my first reference to over reliance on one customer but I ended my post by mentioning 10 % . This may have created the impression that I didn't want any new order to be more than 10 % but that is not what I was saying I'd be happy with as big as possible!
Hopefully not made matters worse with this explanation and the below from my previous post now makes sense without confusion:
"Mind you we still want the big chunk from the government contracts of £5 billion by that time we will hopefully be bigger so it is still less than 10%!"
One other thing, while I'm here I thought needed highlighting which I'm sure others have also picked up on is the common "oh this share was 10 pence and look it has risen so much so therefore it is overvalued ...." That isn't exactly correct if you look at the share price history since the company listed.
Yes it did go to 10p or less BUT that low price range lasted for several months only; at all other times the share price has been higher and for a long time it averaged around 60p.
So it's unfair to pick the lowest point in the share price chart to base valuations from imo. If you think that the normal share price average range was say 40-50p before covid ( I've not used a calculator for this just an educated guess looking at the share price chart) then although still a huge rise it appears very reasonable in the context of the company's new found economic and commercial position.
The derampers were using that against us a few weeks ago saying it's risen several thousand per cent. So just have that in your head this share was averaging a price a lot higher than the low point which only lasted for a few months so why should I use that as my reference point.
It doesn't matter in some instances what the previous high or low was as the the stock market doesn't owe anyone anything ( or such similar saying!).
In our case imo the share price risesn from the 10p level are justified as the company has struck gold and the old valuations no longer apply. IMO dyor.
Just some thoughts.
Just found this company (Spendedge.com) who have prepared a procurement market intelligence report on the leading Covid-19 manufacturers in the USA .They have Premier Design listed but to read the full report you've got to sign up and pay.
https://www.businesswire.com/news/home/20200608005029/en/COVID-19Test-Kit-Manufacturers-Evolving-Opportunities
http://www.genetixbiotech.com/images/pdf/PalmQ-Mini.pdf
Mmmmm - seems a bit extravagant as it's available in 5 different colours .
Blue, Gold/Orange, Pink, Green and Red.
Some great research especially regards new products now available in various countries around the world.
Wonder if anyone has managed to keep a list of the various different brand names available in each country.
Find them a bit confusing, like the latest PalmQMini for Genesig q16.
Some sound more like cars or a choc bar - don't know who thinks them up.
Hope they all have 'PrimerDesign' emblazoned all over them also.
Genetix Biotech in India are also selling the Primer Design covid19 test. If you click on Covid offerings on their front page this is the only one that shows . They are also selling a 16 test PCR device under the name of PalmQ Mini .This appears to be the Genesig q16 under a different name .
https://www.genetixbiotech.com/
Ran out of space - no dependence on any one customer they have applied that approach to covid sales as well - it is actually a strength and the derampers were twisting it to say our next biggest order was from Zimbabwe. One antibody company has been waiting for the government decision on whether it will take its product or not if that was NCYT it would already have been selling to the world.
Mind you we still want the big chunk from the government contracts of £5 billion by that time we will hopefully be bigger so it is still less than 10%!
Easy to use
"Primerdesign's extensive catalogue of over 550 genesig® Real-Time PCR kits can be run on the q32 instrument, including human, food pathogens and food speciation testing. As all genesig® kits have an identical running protocol, the q16 and q32 instruments are easy to use for customers of all expertise and experience levels and provide results that can be easily compared across the instruments and across different sites or collaborating groups."
South African Distributor
The South African Distributor (has reach in all areas of country and also sub Saharan Africa):
"Celtic Molecular Diagnostics, is a dynamic South African based company that was established in 2003 and specializes in the distribution of high quality, innovative and affordable molecular products to researchers and diagnostic laboratories. With over 25 suppliers of reliable and state-of-the-art products, our vision is to become the leading supplier of molecular biology reagents and instrumentation in Southern Africa. Celtic Molecular Diagnostics is based in Cape Town, but have product specialists serving all the provinces in South Africa including our regional clients from Sub Saharan Africa.
Our commitment is to serve the molecular science community with unparalleled service by engaging our customers with honesty, integrity and sincerity. Our hallmark to bring in competent, state-of-the-art technology has made us evolve into one of the major suppliers of molecular reagents, kits and equipment in South Africa. Our passion to make a difference in the scientific and diagnostic communities drives us to go beyond just selling product, but to create long-lasting relationships with both our clients and distributors."
This bodes well for sales there.
The LinkedIn profile states up to 50 staff as the website gives the impression there are 3. They seem to stock products from quality and specialist companies including Abcam.
Growth
From the 2018 results:
"Acquisitive Growth
The Company has always been clear that significant opportunities exist in the diagnostics market to acquire new high growth products and accelerate financial performance with attractive and accretive M&A. The Company has been able to demonstrate this during the past five years through the acquisitions of Lab21, Primerdesign and Omega ID as it has significantly increased sales from €1.2m to €13.7m and turned losses into EBITDA profitability. With attractive buying multiples and the Group's demonstrated ability to integrate assets successfully, acquisitions are expected to continue be significantly accretive to sales growth, gross margins and earnings."
Bodes well for future growth of the company. At the moment organic growth seems assured to propel it forward for the future so no need for acquisitions IMO but it may acquire "new high growth products" as previously advised.
Reliance on major customers (2018 accounts)
"The Group is not dependent on any one customer..