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38.15P
The Board's outlook statement, issued with API's Final Results announcement on June 8th, indicated that trading in the early part of the new financial year had been in line with the second half of 2010/11. After completion of the first quarter, it can be confirmed that activity and profitability levels are running significantly ahead of expectations with the Laminates and Holographics units performing particularly strongly. Whilst there remains some residual impact from raw material costs on our foils businesses, especially solvents and resins, the Board's outlook for the full year is now anticipated to be ahead of market forecasts. In the light of this announcement, the Group does not expect to provide any further general guidance on the full year outlook at its upcoming AGM on 27th July.
Tough outlook could foil API Date: Thursday 09 Jun 2011 LONDON (ShareCast) - Foils group API moved into profit in the year to 31 March, but the shares fell after the company said that it took a loss of £600,000 on its disposal of a stake in a Chinese subsidiary and that customers’ spending plans are being affected by the tough economic climate. API, whose foil is used to package Elizabeth Shaw mint crisp chocolates and Colgate toothpaste, posted a pre-tax profit of £2.9m for the period, against a loss of £0.3m the previous year. Sales climbed to £100m from £79.2m. The company exited the Chinese business due to margin erosion caused by increased competition. “The year has seen a step change in many aspects of the Group's financial position and it is particularly encouraging that, despite facing the challenge of unprecedented increases in the cost of raw materials, the Group has delivered its best trading performance for a number of years,” Richard Wright, chairman of the Stockport-based company said. “Results will continue to be influenced by the uncertain economic climate and by customer decisions affecting our more significant supply positions.” API, which is not paying a dividend as it seeks to pay off debts, also complained of rising raw material costs.
http://www.investegate.co.uk/Article.aspx?id=20110609070000H2276
You like to pretend on these threads that you still hold stocks that went onto multibag, given how desperate you are to push any stock you are in briefly on these boards i find it hard to believe you can go a long time without posting on a stock that has quadrupled :-))
5 bagger from when I first bought but shame I am only holding 50% of my original stake.
API Group (API) expects trading results from continuing operations for the full-year to be ahead of market expectations, the manufacturer of specialised packaging and security products announced, due primarily to a stronger than anticipated second half performance from the Laminates division. It added that results in the Foils businesses have been in-line with expectations. Shares in API advanced 4p to 22.125p.
Now this is an interesting Company - will have a right gander at this over the weekend
API Group plc Pre Close Trading Update API Group plc ("API" or the "Group") is pleased to issue the following update on trading for the financial year ending 31 March 2011 (the "Period"), before entering the close period ahead of its results announcement due on or around 9 June 2011. The Group expects trading results from continuing operations for the Period to be ahead of market expectations due primarily to a stronger than anticipated second half performance from the Laminates division. Results in the Foils businesses have been in line with expectations, with margins under pressure from increasing raw material costs and the lag in passing these through in higher selling prices, partly offset by increased holographics volumes. Cash flow for the Period has been strong and the Group expects to report net debt for the year end of below £10.0m (2010: £18.5m). As the Group enters the new financial year, the high level of activity in Laminates is being sustained whilst the outlook in Foils is improving as raw material costs stabilise and margins start to recover as a result of the action already taken on pricing.
http://www.investegate.co.uk/Article.aspx?id=20110408070000H4439
Nice to see some big buys today at 15p hope the bid catches up.
Few buys now coming in. Let's see if this goes higher as I have a feeling there is not a great amount of stock available.
Nice
Any decent buy will take out that 10p offer and next MM was on 11.5
Been an interesting week and expect many are looking at API. Tightest spread which I have seen and we have a full house with the technical analysis http://www.barchart.com/opinions/stocks/API.LS
Would expect 10p offer to go very quickly
API Summary from Equity Development: The group has reported sales revenue of £84.6m this year, which represents a 9.5% fall from the previous year. An improved operating profit of £0.9m was achieved this year compared to £0.1m last year. The company struggled in the first half of the year, but improved revenue by 25% in the second half translating into a return to profitability of £1.9m. The group cites the impact of recession and the timing of cost reduction methods as an explanation for this U-shaped performance. The group’s European businesses are doing well and have delivered profits offsetting losses in other regions. North America and Asia have both reduced losses compared to 2009 but Asia Pacific’s otherwise good performance has been hampered by continuing losses in China. Sales revenues have dropped by 9.5% in a relatively uniform fashion across all regions, but the group has been able to increase profits by a focused reduction of their cost base. They have also benefitted from lower raw materials costs, lower utility prices and more favourable exchange rates. The US economy is slowly recovering from recession and it is hoped that sales volumes in the region will recover accordingly. The group is also buoyed by increased brand owner activity on packaging developments and new projects at advanced stages. Some concerns must persist due to tentative confidence amongst particular customers and uncertainty over raw material prices, but otherwise API have addressed immediate concerns regarding their debt and the cost base and are well placed to grow the business. To have achieved that, yet being valued with a market capitalisation of only £7m, seems most incongruous.
I see that there was a trade of over 340K on Friday which soaked up all the sells and also cut the online limits back again.
That is also what I am thinking. Another day like this and then I might be in profot. Buy limit has now been cut back to only 15K shares so we may see a further move up.
If there are no more impairment charges at the next interims should be a healthy profit and re rating IMO.
http://menmedia.co.uk/manchestereveningnews/news/business/s/1242017_shares_surge_as_api_group_returns_to_profit There also seems to be note out from Fox Davies.
Also news out at TMF http://www.fool.co.uk/news/investing/company-comment/2010/06/03/a-balanced-risk-reward-play.aspx The 100K at 10p shows exactly that there is little stock available in the market.