Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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And Peel Hunt reiterate their Buy and 500p target:
Http://investing.thisismoney.co.uk/broker-views/
Finncap reiterate their 487p price target:
Http://investing.thisismoney.co.uk/broker-views/
Looks like today will be a good day here - order books at record highs, margins up, a rosy outlook going forward.....
An excellent update.....and also great to see D&M now up to 75% of profits.
Https://www.investegate.co.uk/discoverie-group-plc--dscv-/rns/trading-update/201807260700047908V/
Extract:
"The positive trading momentum seen last year continued into the first quarter, with the Group on track to deliver earnings in line with our expectations.
Group sales in the period increased1 by 12% CER2 and 3% organically3 against a strong prior year comparator, and orders increased by 16% CER and 7% organically. The Group order book, of which over 80% is for delivery over the next twelve months, rose to a record high of £135m, up 20% CER year-on-year and up 13% organically.
New project design wins, a key driver of future organic growth, also grew strongly with a number of successes in our key target markets, in particular, the renewable energy, transportation and industrial markets.
The Design & Manufacturing division ("D&M"), which generates around 75% of Group profits, saw broad-based organic growth with sales increasing by 5% and orders by 13% on an organic basis as the division continues to benefit from its focus on key structural growth markets and cross-selling."
And:
"Group gross margin increased over the prior year, reflecting the continued focus on products with higher added value.
With a clear organic growth strategy and an active pipeline of acquisition opportunities, the Board expects to make further progress throughout the year."
New pan-European partnership agreement:
Http://www.acalbfi.com/uk/articles/articlesContentPage/Acal-BFi-signs-pan-European-agreement-with-Rebellion-Photonics/NA-000786
"Acal BFi sign pan-European agreement with Rebellion Photonics
Acal BFi have further developed their photonics and imaging portfolio by becoming Rebellion Photonics’ sole technical partner in Europe to offer their range of next-generation gas-leak-detection and monitoring systems. Some of the biggest oil, gas and chemical companies in the world use Rebellion Photonics' technology to mitigate high-risk safety and environmental issues, loss of product, delays to production and the related economic losses.
Customers across Europe can now access high-quality hyperspectral imaging technology with advanced detection algorithms to identify and quantify gas releases in real time. This cutting-edge technology is fully autonomous and automated, capable of detecting leaks day and night with a response time of less than one second, and is unaffected by wind and other weather conditions. The system automatically detects, identifies and quantifies the gas, generates an alert, and provides real-time video of the leak, allowing the operator to take immediate mitigating action.
Accurate detection of gas leaks up to 1.7km away
Rebellion Photonics' gas-cloud-imaging (GCI) cameras use proprietary technology, both visible spectrum and infrared video, to detect leaks up to 1.7km away. The self-calibrating hardware is significantly more accurate at detecting gas releases than most traditional imaging systems, eliminating the need to buy additional gas-detection hardware.
Unlike other gas-leak-detection systems, Rebellion’s GCI technology both identifies and quantifies gas leaks for most hydrocarbons and other dangerous gases. For example, GCI cameras can detect a cloud of ammonia 2m in depth with an average concentration as low as 7ppm, accurately estimating the volume of gas emitted.
etc"
Berenberg have increased their target price to 525p (from 475p):
Https://www.baseballdailydigest.com/2018/07/09/berenberg-bank-boosts-discoverie-group-dscv-price-target-to-gbx-525.html
All looking very good Rivaldo, that Montanaro buy looks strong too, they look like a class outfit who know what they are doing, with a preference to hold a share forever. Some big buys here all week, it just keeps getting better every time I come and look
Almost at new highs even despite going ex-div yesterday, and looking very strong. Plus here's a new Edison report FYI Their EPS forecasts have been increased by 1.8%, more acquisitions are likely, and DSCV are still at a discount to their sector: Https://www.edisoninvestmentresearch.com/research/report/discoverie-group338618/preview/
Montanaro Asset Management have been buying and are now a new substantial holder with over 3% and 2.42m shares: Https://www.investegate.co.uk/discoverie-group-plc--dscv-/rns/holding-s--in-company/201806111056339733Q/
Tipped here - good to see someone else gets the reason for the continuing re-rating: Https://www.aol.co.uk/news/2018/06/05/why-id-buy-this-growth-stock-as-it-crushes-the-ftse-100s-perfo/ "Why I'd buy this growth stock as it crushes the FTSE 100's performance Jun 5th 2018 9:35AM Full-year results from DiscoverIE Group (LSE: DSCV) today were encouraging. The electronic components designer and manufacture delivered some robust figures and said that in the trading year to 31 March it experienced "strong growth in sales, earnings and the order book"- music to the ears of those following the firm's growth story. The share price hasn't moved much today (so far), suggesting that the market expected decent trading figures. However, the stock rose around 100% over the last year or so, driven by perky forward earnings projections and a valuation re-rating. That's a performance that crushed returns from holding a FTSE 100 tracking fund over the period and is a good example of why it can be lucrative to invest in smaller firms outside the footsie as long as we do thorough research first. I think the operational and share price momentum looks set to continue, so I'm hanging onto my shares. Good figures Compared to the previous trading year, revenue elevated 11%, underlying operating profit lifted 18% and underlying earnings per share moved 16% higher. The directors expressed their confidence in the outlook by pushing up the full-year dividend by 6%. Chief executive Nick Jefferies said in the report that the firm's design and manufacturing division achieved "strong" organic growth in both revenue and profits during the year, and an efficiency programme boosted profits in the company's custom supply division. The order book moved 12% higher and, in order to cope with the increased demand, the company invested in additional production capacity at sites in India, Slovakia and South Korea. During the current trading year, the directors plan to invest further funds in China and Rotterdam. Looking forward, Mr Jefferies said the new trading year started with "continuing growth in orders and sales" and DiscoverIE is "well positioned" to benefit from the ongoing technology changes unfolding in the firm's target markets. Trading up the value chain The growth agenda seems clear with the firm stating that it aims to increase sales "well ahead" of Gross Domestic Product (GDP) over the economic cycle by "focusing on structural growth markets." The plan involves shooting for both organic and acquisitive growth and "moving up the value chain" to further increase revenues in the "higher margin" design and manufacture (D&M) division. Progress so far has been brisk, with the company earning around 71% of its operating profit from the D&M division during the year and 29% from Custom Supply. The directors have their sights set on expanding sales in North America
Numis have today increased their target price to 500p (from 455p): Http://investing.thisismoney.co.uk/broker-views/ There's also a very positive interview with the CEO here, noting a "strong pipeline" of acquisition opportunities. There's a fourth production facility coming this year for magnetics. "Very strong" order book and design wins for organic growth too. Also "very strong" trading in first two months of this financial year, plus a favourable macro outlook and particularly in their target markets: http://www.proactiveinvestors.co.uk/companies/stocktube/9447/discoverie-enjoys-year-of-good-progress-with-strong-organic-growth-9447.html
Peel Hunt have now increased their target price to 500p (from 470p) and say Buy. And Finncap have also increased, to 487p (from 456p): Http://investing.thisismoney.co.uk/broker-views/
Excellent numbers - the EPS and dividend are both slightly ahead of already increased consensus forecasts. Most importantly, order books are rising fast and there are strong hints that more acquisitions are on the cards. The outlook is very bullish: "As expected, this has been a year of good progress. The Design & Manufacturing division has delivered strong organic growth in revenue and profits and in Custom Supply, the efficiency programme of last year has delivered much improved profitability. The Group order book grew by 12% CER to reach a new record level of �122m and the value of new projects won during the year continued to grow well, particularly in our target markets; both are important for building organic growth. To support this, we have invested in additional production capacity at three sites with one more underway in the coming year. We have a healthy pipeline of acquisition opportunities with a number being developed in line with our stated objectives. Trading in the new year has started well with continuing growth in orders and sales and the Group is well positioned to continue benefiting from the technology changes that are underway in our target markets. We look forward to making further progress in the year ahead."
Peel Hunt today reiterate their Buy and 470p target: Http://investing.thisismoney.co.uk/broker-views/
For the record, SCSW updated on DSCV briefly as follows in its May issue 9 days ago: "DiscoverIE (Sharewatch) I haven�t updated on Acal since its name change to DiscoverIE but clearly the new name has sparked interest in the shares, which are now flying high. The year to end March has seen good growth in year-on-year profitability. Finncap forecasts sales to have grown 16% to �394m (c.+6% organically) whilst pretax profits are up a third at �22.9m. Orders for the full year grew organically by 5% and the order book finished the year 12% higher. The swing factor continues to be the Design & Manufacturing side, which generates c.75% of the group�s profits and generated organic sales growth of +11% in FY18. Since our last update, DiscoverIE has strengthened its position in the wind power, solar power and transportation end markets with the acquisition of Santon, a designer and manufacturer of patented direct current switches. This also increased international sales, notably taking its sales in China to 13%. An initial �22.8m cash and �0.9m shares was paid with up to �19.9m based on future performance. On the Custom Supply side, sales were flat organically although this largely reflected a very strong prior year. Profits, however, benefited from improved efficiency. Finncap forecasts eps of 27.3p this year with 28.5p next. First mentioned at 215p in August �14, it�s good to see the shares finally break higher."
Good news: Https://www.electronicsweekly.com/uncategorised/acal-bfi-signs-gas-monitor-firm-cubic-2018-05/ "Acal BFi signs gas-monitor firm Cubic Acal BFi has teamed up with Chinese gas-monitor manufacturer Wuhan Cubic Optoelectronics Co. Cubic specialises in non-dispersive infrared (NDIR) CO2 sensors, laser particle dust sensors, and indoor and outdoor quality gas-sensor modules. According to the distributor, the aim is to tap into the air-quality-monitoring market which has been forecast to be worth an estimated $5.6bn. The supplier has ISO9001 and IATF16949 (automotive) accredited design and production facilities. Acal BFi will be Cubic�s sole European technical partner. Martin Kemp, business development director at Acal BFi, writes: ❝ �With a portfolio of leading gas-sensing and wireless technologies, and the complete design support to develop custom designs, Acal BFi are now a leading partner for customers in the air-quality-monitoring market.� Dr. Youhui Xiong, founder and president of Cubic, adds: ❝ �Acal BFi are absolutely aligned with this approach, providing customers with technical support and expertise. This enables them to take advantage of our innovative, patented technology in their designs.�
New Edison report out today - trading at a 10% discount to its peer group average: Http://www.edisoninvestmentresearch.com/research/report/discoverie-group196794/preview/ "discoverIE saw continued strong trading in Q418 and expects to report revenue growth of 15% for FY18 and earnings in line with management expectations. Design & Manufacturing (D&M) delivered further strong organic growth in the final quarter, and the group has a strong order book entering FY19, bolstered by the recent Stanton acquisition. The company is making good progress in its strategy to build the D&M side of the business and we continue to expect further acquisitions in this space."
Https://www.aol.co.uk/news/2018/04/19/two-hot-small-cap-stocks-you-need-to-check-out-today/ "Discoverie Formerly known as ACAL, �301m market cap Discoverie(LSE: DSCV) designs, manufactures and distributes customised electronic products and solutions to businesses across a range of industries. Since I last covered the stock in mid-October, it has risen over 20%. In a year, it's surged over 60%. The trend here is clearly up. Are there more gains to come? A trading update released today sounds good, in my view, even if the stock has fallen a few percent this morning. The group advised that, since its last update on 31 January, trading has continued well, with full-year earnings likely to be in line with management expectations, reflecting "strong growth in year-on-year profitability." Group sales for the year ending 31 March increased 11% on a constant currency basis, including organic growth of 6%. The Design & Manufacturing division, which generates around 75% of the group's profits, enjoyed organic sales growth of 11% for the year. The firm advised that group gross margin "continues to strengthen," and that the order book at 31 March was at a record �122m, 12% higher than last year. Despite the rise in the share price over the last year, Discoverie's valuation remains attractive. City analysts expect the group to generate earnings of 24.9p per share this year, which places the stock on a forward-looking P/E ratio of 16.3. A P/E to growth ratio (PEG) of 1.4 suggests that's a fair price to pay for the growth being generated. Furthermore, a prospective dividend yield of just over 2% adds weight to the investment case. I rate Discoverie as a 'buy' at current levels."
Peel Hunt retain their Buy and 470p target, whilst Finncap retain their 456p target. There should be short-term value here as well as medium and long-term, as DSCV have repeatedly stated they intend to continue making acquisitions which will drive up earnings.
Very encouraging in-line trading update, particularly the continuing strength in D&M (75% of profits) and the record order books, 12% higher than last year. Gross margins are higher again, and acquisitions are bedding in nicely: Https://www.investegate.co.uk/discoverie-group-plc--dscv-/rns/trading-update/201804190700023872L/
DSCV's involvement in the IOT (Internet Of Things) steps up a gear: Https://www.acalbfi.com/uk/articles/articlesContentPage/Acal-BFi-selected-as-the-first-European-technical-partner-to-bring-cutting-edge-Airoha--MediaTek-Group-Company--technology-to-the-IoT-sector/NA-000778 "Acal BFi selected as the first European technical partner to bring cutting-edge Airoha (MediaTek Group Company) technology to the IoT sector Airoha Technology Corporation (Airoha), the dedicated, fully owned, IoT solutions subsidiary of leading global technology company MediaTek, have selected Acal BFi, the European leader in advanced technology solutions, as the first regional technical partner to bring their systems-on-chip (SoC) solutions to the IoT sector. The new agreement provides customers in Europe with access to Airoha�s tightly integrated, power-efficient SoC solutions � including Bluetooth low energy, Wi-Fi and location (GNSS) � with integration support from Acal BFi�s Airoha-trained Field Application Engineers.... ....Best-in-class connectivity from Airoha Some of the biggest product manufacturers and OEMs in the world use Airoha�s technology to bring hundreds of millions of wireless-enabled products to the market every year. Their high-volume, cost-effective, compact solutions are behind an entirely new generation of devices, including wearable and fitness accessories, home automation, connected appliances and asset tracking. Part of the MediaTek group of companies, Airoha continuously innovates their SoC solutions to deliver greater processing power and increased efficiency in ever more compact sizes at the cost points required for mass-market production. �Driving an explosion of connected products, the IoT sector can now also benefit from Airoha�s technology� Diego Sala, Business Development Director, Acal BFi, commented: �We are delighted to bring this level of technology to the IoT market. Airoha�s world-class technology is driving an explosion of connected products, and now the IoT sector can also benefit from the competitive advantage SoC solutions provide. We look forward to helping our customers create ground-breaking IoT solutions with best-in-class performance.� Yuchuan Yang, Senior VP, Airoha, added: �Today, European operations have been strengthened considerably with our new, deeper engagement with Acal BFi. They are our major design partner in Europe, providing customers with complete, one-to-one support across their entire technology portfolio. This expertise and collaborative approach were key factors in our decision to partner with Acal BFi, and which are essential for the IoT sector to benefit from our SoC technology."
Enough said :o))
Great post, Rivaldo, I concur thanks for the tips too, I'll have a look at those. I have been in DSCV about the same time and added over the last few months too. all looking good!
Since I bought this only 9 months or so ago the share price has risen 70%, and imo there could be another 70%-100% to come assuming stable markets. But tell that to the hordes chasing resource stock and penny share dreams and they'd probably just refuse to consider it. Incidentally, I feel GMAA and SCH are now in a similar largely undiscovered position to where DSCV was. Ramp over :o)) Good coverage for DSCV here: Http ://www.proactiveinvestors.co.uk/companies/news/193406/city-brokers-repeat-bullish-views-on-discoverie-group-following-recent-capital-markets-day-193406.html "City brokers repeat bullish views on discoverIE Group following recent Capital Markets Day 15:52 19 Mar 2018 Two city brokers reiterated their bullish views on discoverIE Group PLC (LON:DSCV) following the customised electronics supplier�s recent Capital Markets Day. Numis Securities reiterated an �add� rating and 455p price target and its analysts said the event �left us feeling confident about the Group's runway for further growth�. In a note to clients, they added: �The key focus of the event was on giving a greater understanding of the product range, particularly within Design & Manufacturing (D&M).� The analysts said the firm � formerly known as Acal PLC - also provided some further detail on M&A plans, noting that discoverIE�s management reiterated their target for a 15% pre-tax return on investments (ROI) from acquisitions within two years. They concluded: �Despite the re-rating over the last year, we believe that a favourable market backdrop, combined with the potential for further value-enhancing M&A, means that there is further for the stock to run.� Peel Hunt repeats �buy� and 470p target Meanwhile, analysts at Peel Hunt also commented on discoverIE�s Capital Markets Day pointing out that the event �was very well attended and gave a clear account of the business, the long-term strategy, successful execution so far and the huge scope for further growth.� The Peel Hunt analysts said: �With no new financial or trading information we leave our numbers unchanged, but reiterate our 470p target price and Buy recommendation.�
with buying at 419p. Continuing evidence that the Capital Markets Day went rather well...