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CML has lodged formal documentation with the local council to develop part of their Langford site. The plans show that they hope to build up to 150 residential properties on approximately half of that site, with an established property developer. If the plans are approved, this developement should generate at least £5m worth of extra cash for CML in the next few years in addition to its highly profitablle manufacturing activity. This will make CML a very cash rich company and hopefully a special dividend is in the offing. STRONG BUY STRONG BUY STRONG BUY
Regarding Outlook, Chris Gurry, Managing Director of CML, said: "Trading performance through the first half year was encouraging and reflected the Group's established multi-year strategy for sustainable growth. "Within our three major market areas of wireless, storage and wireline telecom, we continue to see growth opportunities within existing customer product portfolios in addition to general expansion of the overall customer base. "Following the period end, overall order book levels have remained healthy although it is possible that the general economic climate in some regions may affect customer buying patterns or investment decisions. Despite this, the Board currently anticipates positive trading conditions to prevail through what is traditionally a slightly weaker second half."
INTERIM RESULTS CML Microsystems Plc ("CML"), which designs, manufactures and markets a broad range of semiconductor products, primarily for the global communication and data storage markets, announces Interim Results for the six months ended 30 September 2011. Financial Highlights: · Revenues up 9% to £12.29m (2010 H1: £11.21m) · Gross profit up 8% to £8.51m (2010 H1: £7.83m) · Profit before tax up 59% to £2.02m (2010 H1: £1.27m) · Basic EPS up 63% of 9.87p (2010 H1: 6.05p) · Net cash position of £4.37m (2010 H1: £553k) - with bank borrowings reduced by £1.5m to £3m Operational Highlights: · Strong revenue growth globally · Stable cost base and margins within targets · Solid cash flow, improved net cash position · Maintained investment levels for key new product development programs
Good time to top up holdings in CML
Interim Management Statement CML Microsystems Plc ("the Company"), which designs, manufactures and markets a broad range of semiconductors, primarily for global communication and data storage markets, today held its Annual General Meeting at Layer Marney Tower, Essex. Following the formal proceedings of the AGM and as required by the UK Listing Authority's Disclosure and Transparency Rules, the following Interim Management Statement was read to shareholders by Chairman, George Gurry: Interim Management Statement This statement relates to the period from 1 April 2011 to 2 August 2011 and embraces the unaudited results for the Group's opening trading quarter for the financial year ending 31 March 2012. Continuing growth The Group's operating results for the opening quarter are ahead of internal expectations and reflect the ongoing positive trading conditions that were a hallmark of the prior full financial year. Comparable period revenues are ahead in the major target market segments and geographic regions whilst on a customer basis, advances have been broadly based. The gross margin has remained stable and the group continued to improve its net cash situation whilst also funding necessary working capital requirements. There have been no other material events or transactions since 1 April 2011. Outlook The Board remains confident of an improvement in profitability for both the six-month and full year trading periods.
http://www.investegate.co.uk/Article.aspx?id=201108031130016602L
I can see CML generating a lot of cash over the coming years., with rising dividends and who knows may be a special dividend if non core assets can be offloaded. The share price has held up well considering the turmoil in the markets, no reason why £4 cannot be achieved in the medium term.
Cenkos Securities issued a "buy" recommendation for CML Microsystems (CML) with a 300p target price. Commenting on full-year results, the broker said they are an impressive vindication of management's strategy and operational execution. Looking ahead, Cenkos added that the semiconductor's prospects in flash memory storage markets look particularly bright as design win momentum continues in embedded computing, networking and telecoms markets. CML shares added 23p to 235p.
Better than expected, the growth/recovery story continues.
Anything over £2.2m for net profit will be a good result in the short term, regards long term key will be the increase in sales while keeping costs under control.
Someone had a good day at the office on Thursday. Exercise price of 5p,money for old rope. Unbelieveable.
Not sure where CML is going to go from here, the end of year results need to be good to get the upward movement back on track. Cello is one to tuck away and leave alone, seems to be a lot activity regards oil and mining shares lately. Must admit I have invested ( or should I say gambled) in a few and made some good profits, but most of them seem to be massive Ponzi schemes designed to rip off investors. Good luck
I see Edmond Jackson has highlighted Cello's potential on iii ....and CML have the look of beating the handicapper...
I think the Gurry family see CML as a cash cow, good for a dividend but limits growth potential. Tech stocks taking a hammering, this could create a buying opportunity for CML in the summer
would be difficult to build up a stake then.Well a fat divi then perchance ?
vinnyt, it is my understanding that the Gurry family own more than 50% of the CML shares, so a hostile takeover is out of the question and a friendly approach would be rejected in the short term.
activity in this sector George...may get lucky with a bid....?
Now we know
Lots of small buys which is unusual for this stock, looks like someone is trying to force the price up. But to what ends?
Also very keen on NOP, given the upward movement in oil prices.
thanks very much ,still haven't filled my quota on CLL ,it's not an easy one but I guess that tells you something,there isn't even any BB chat which is a refreshing change!
Stocking picking is always a lottery, mathematical analysis just reduces the risk. Its either that or a chimpanzee throwing darts. I see Cello group is moving upwards, first took note of this stock when it was mentioned in the Investors Chronicle last summer. Not sure on the future of CML still and wait and see, but little downside risk. Good luck and may your profits be large and losses small.
Picked a few up today,thank you very much for pointingthese out,they do look undervalued.Bit embarrased I have nothing to offer in return at the minute.
Is Huntsworth a fair comparison(I used to hold these)?