Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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The investment made in experienced and motivated management, new products and markets, increased exports, and the strengthening of our established brands, has placed the Building Products division in a strong position. Meanwhile, the ongoing progress being made by the new management team in the Engineering Products division will continue to benefit the current year. Alumasc has a well developed strategy that continues to drive performance, despite the challenging market conditions. The Board expects the group to continue to deliver these plans and make further progress in the year ahead.
lol
out imv
nothing is most
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all is yours LOL
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buy the dips imv
alu done well lol
DYOR but I'll be interested to see performance and outlook when reported
Building and engineering products group, Alumasc, saw profits slump after serious problems at its engineering arm hit full year results. Underlying profit before tax came in at £1.6m in the year to the end of June, compared with £4.3m the year before. Chairman John McColl called it "a deeply disappointing result", albeit in line with recent expectations. Revenues from engineering products were steady at £36.8m but the division slumped to an operating loss of £0.8m after serious operational issues at Alumasc Precision Components. This company said "an erosion of manufacturing disciplines and the mispricing of certain work" had led to lower gross margins in the business during the year. The group has undergone a restructuring with the engineering division now operating as an independent and self-sufficient entity, with a full board of directors responsible to the group board for its recovery and sustained profitability. It was different story at the firm's building products arm, where revenues were up 5% to £74.9m with operating profit up 12% to £4.4m. This came despite the well-publicised decline in UK construction activity and reflected growth in export, roofing & walling, and construction product sales, Alumasc said. A proposed final dividend of 1.0p took the total for the year of 2.0p, with the company saying it intended to restore "meaningful dividend payments" underlying earnings had grown to cover this.
Only 5 weeks to results, have they sorted problems????
whats on ?
Group revenue during the period rose from £49.6m to £54.1m year-on-year, but underlying profit-before-tax fell to £1m, compared to £2.2m the previous year. Earnings per share more than halved from 3.6p to 1.4p. The interim dividend was reduced from 3.25p to 1p per share.
"It is very pleasing to report a further aluminium smelter related project win which was the result of Alumasc Armaseam's technical solution and which followed a rigorous evaluation over several months," said Chief Executive Paul Hooper. The win is good news for the firm but won't help its 2012 figures. In February the company said that margin pressures had overshadowed revenue growth in the half year to December 31st and that full year results would be "materially below previous expectations".
Building and engineering products group Alumasc has won a 10 million pound contract to supply roofing to a large aluminium smelter in Canada. The firm said the majority of the revenue and profit from the new contract was expected to come in its financial years ending 30 June 2013 and 30 June 2014.
riddler take a look at UEP - Just annonced agreement with Chinese multi-national oil group CNOOC Ltd
These analysts are so ahead of the game-do hope they are paid terribly well. The world is clearly a better place with them!
Peel Hunt downgrades from buy to hold, target slashed from 173p to 90p.
Paul Hooper, group Chief Executive at Alumasc, a building and engineering products company, has acquired over 37,000 shares in the firm on the same day the firm admitted that full year results will be materially below previous expectations. The company attributed this to margin pressures had overshadowed revenue growth in the second half of 2011. The news sent the stock tumbling on Thursday, with shares trading at the 94p mark, down nearly 28% on last night’s close of 130p. Reported profit before tax for the half year dropped from £1.9m to £0.7m, hit by a rise in the cost of sales to support a recent surge in demand.
94p to buy, moving up nicely, not taking much to push it back to 100
85p buy, profits down but still paying reduced divdend, oversold
I hate to see you talking to yourself mulledwine, unfortunately a lot of people haven't seen the sexy potential of this one, was in a while back sold on the highs and watching with a view to getting back in if the price gets down to where I want to buy in at.
The extent of the drop is surely not warranted -
The group expects a stronger second half result, underpinned by normal seasonal bias; a significant uplift in the order book in our Facades business driven by demand from the Community Energy Savings Programme; a stronger order book in our roofing business reflecting increased penetration of refurbishment markets; and an improved performance at Alumasc Precision. The group's order books continue to exceed £43 million in total. In view of all the above, the Board currently believes that its previous profit expectations for the full year are now likely to be at the top of the range of likely outcomes. A further, more detailed, update will be given once our interim results are finalised in February. On a more positive note, the medium term prospects for the group continue to be most encouraging, particularly in light of recent developments which include: · Levolux securing orders for design phases of two multi-million pound projects in London, which will begin to benefit during the next financial year · Gatic is experiencing a high level of enquiries for international work, and a business development manager has recently been appointed to grow Slotdrain opportunities in the United States · Blackdown has recently won a significant order to supply a circa £700k green roof for the Scottish Arena in Glasgow · Alumasc Precision is working on two potentially very significant new projects with major international customers.