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Miller1972 . Cash is low but they still pay a divi ( very small ) But the point is this huge contract with MTCR has just started to be invoiced £39.7 Million. I just got some more at 1.85p. This is the start IMHO
Islandgirl, there has been occasions when this thread has been active - it might happen today if the share price goes up 50% - I might add early this morning (if i can find some funds lol) - because imho the share price looks/is undervalued gl
This really is off the radar!
KNIGELK , £39.7 M to invoice. I like this part aswell.
As we have announced previously, the effect of this temporary suspension is insignificant given the Group's current workload, with MTRC in particular, however, the Company is applying to have this suspension lifted. Growth company
The Directors look forward to reporting further on the Group's progress in our interim results, which we anticipate releasing in November 2018.
Trading in the first four months of the current financial year, is significantly ahead of the corresponding period last year. Unaudited revenue for the Group, for the four months ended 31 July 2018 is approximately £4.5m (4 months to 31 July 2017: £1.5m).
What a great update and improvement on the prior year! IMHO the share price does not reflect any of the recent developments we have seen with the company .. maybe it will start to later today?
I bought a few more today . Like you i understand the contract has only just started to be invoiced.
As announced on 17 April 2018, the Company invoiced HK$5.1m to MTRC in the financial year ended 31 March 2018. This leaves a further value of HK$402.2m over the remaining five and half years of the contract.
Always was 2019 for me and with only 3/4 months till the Interims i have been accumulating .
I also found this part interesting and a reason we might not get much news on others contracts won over the next 6 months.
The Major Contract with MTRC led to a significant annualised outstanding workload value which requires the Company to have additional working capital in the financial assessment by the Hong Kong Government. Works Branch. A shortfall in working capital of GBP 0.62m (HK$6m) existed in the 2017 financial test. This meant that the Company is suspended, by this customer, from tendering for additional public works contracts for up to six months from 27 July 2018 until the shortfall has rectified.
Thks for your reply Thorpedo . what i was referring to was this in the FR YE March 2018
" a relative weakness of the HK$ at the year-end has led to a 14% depreciation in the GBP reporting amount in the Consolidated Statement of Financial Position. It also led to the significant non-cash other comprehensive loss of £779K (2017: income £768K) on exchange differences arising on translation of foreign operations. "
Comeonvog
Dont worry, the contract is for now and will be in future accounts, full year accounts are based on date which is usually up to 21 months out of date.
Any weakness in currency is the GBP which is good for UVEL.
It is a case of waiting for the rerate, I dont know what will cause it but it will come as SP is well below what Contracted future Revenues/Profits will be.
I did a NPV of the contract - posted on here, I from the top of my head, without looking at my notes, I think it was about 4.3pps I try to get out at about 90% of my forecast so have an exit plan of 3.9p
When it's quite. Interims Dec .
Is the problem the weak HKD to USD .
Do we have an investor familiar with accounts. Would like there view on the Final results.
We don't get quarterly results. Next news other than further contracts would be the half-yearly / interim's in December. Plenty of time to pick up some stock.
Anyone have an exact date for when the next quarterly results will be made available?
Patience required but not much
Always thought this was a next year company , people will just not hold. had a few more today and will build on any weakness in SP. I feel for people who bought above 2p but if you can hold this will pay next year. The stock market is currently not paying LTH . GLA This is all IMHO.
Very little of the new contract profit is included in these figures and like you say the initial set up costs will be.I reckon next year we will be looking at 2million or so profit on new contract alone.
All figures looked good. Increased divi, revenue, profit etc. Only small downside was marginally decreased gross profit margin. Perhaps initial setup costs for taken on this large project have not yet filtered out of current profit figures??
The margin is the key here. The concern was always that the pricing of the MTR contract would be dilutive to margins and that isn't the case It's simple maths to work out what margin the remaining contract and ancillary contracts should generate. Fixed overheads and tax are well understood so you can work out a future EPS based on this for the next 4 years.
Only invoiced 500k in these results and profit margin good. Should go from strength to strength from here...gla.
Big over reaction, there'll be a bounce today. Maybe not to this weeks highs but it'll start to pull back.
Good margin, good sales could have been better with a better exchange rate but that can't be controlled. Dividend continues. Working to aquire more contracts. What's not to like.
I'm O.K. with results . Will leave my money here for another year. GLA
Over reaction from the market because it hasn't bagged in two days. Good results, everything looks fine to me
sell on the news!........... Not bad results, though.
I think they will be friday, not tomorrow