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If EBIT of £5.6m is higher than normal, what is normalised EBIT? £5m (a small increase on last year)? or £4.5m (average of past few years) DYOR/not investment advice but EV of £30-35m for normalised EBIT of £4.5m - £5m (6-7) looks fine for well run diversified company with steady record of profits growth Jolly satisfied
boooooooooooom (Dewhurst style): steady & relentless
just how valuable is voting??
most expensive DWHT share ever I believe probably seem a steal in 5 years' time opinion only / lol
results level Think "A"?
fancy the "A", sir, as well?
Weak outlook has taken shine off DWHT (& a bit less DWHA, so discount narrowed) If EBIT of £5.6m is higher than normal, what is normalised EBIT? £5m (a small increase on last year)? or £4.5m (average of past few years) DYOR/not investment advice but EV of £30m for normalised EBIT of £4.5m - £5m (6-7) looks fine for well run diversified company with steady record of profits growth Jolly satisfied
Outlook Keypad sales were unusually high this year. It is anticipated that these sales will revert to more normal levels in the coming year. Our concerns expressed at the half year have proved well founded as the new year has started slowly. Customer confidence in the UK has deteriorated and uncertainty has crept back in. Transport demand remains weak due to Local Authority and Central Government cutbacks. However we have some potential in new products coming on stream during the year and the potential acquisition of Dual Engraving, announced on 12 November, which may help to offset performance elsewhere. ...
..
Chairman's Statement Results I am delighted to be able to report record sales and profits for the Group this year. Sales were up 24% to £51.6 million (2011: £41.5 million), operating profit before goodwill and an exceptional gain from the sale of the property was up 15% to £5.6 million (2011: £4.9 million) and profit before tax was £5.4 million (2011: £4.3 million) up 26%. This would have been a good performance in any year but in the current market conditions I believe it is excellent. The improvement was broadly based, with growth in all three product divisions. Geographically, sales improved in the UK, Europe and the Far East. The only area not really showing improvement was North America which was broadly flat. The lift and keypad markets held up in the second half, but the transport sector was more difficult. For the year as a whole keypad sales and Thames Valley Controls (TVC) were the strongest contributors to growth. TVC sales were bolstered by the new Hall Call Destination Product and good performance on remote monitoring products.
Jolly,posted my key comments on DWHT on DWHA(inc my yr end projections ha!) .the only thing that made me nervous is the large spread(6-8%) .not one you would want to have to bale out of in a bad week for the market.I will post my thoughts on AVN later on that board.Enjoy the weekend.
Ups1de I would dearly love to hear/read a considered critique of the Dewhurst. The global market may be wretched, but these guys seem...darn good But I would not like to be missing something important, though.. Jolly well placed
Joined you over on DWHA given splendid momentum promised & 30% discount to ordinary shares.Dont know what use a vote would be anyway! Lets hope we get an early xmas pressie.
I am going for a top up here soon as I have just over 8 shares and need more to make a worth while sell point. I just cannot believe to sudden rises.
results is - im(h)o - a brave move (unless switching to cheaper seats in this bus aka DWHA), That is because the Dewhurst management team and brand have not disappointed, and (DYOR/this is not investment advice) the re-rating may well continue for some time Jolly cosy here
how dare you? Bit ungrateful...
i'm singing in the rain...
I salute you..
these guys are a class act: know the business they are acquiring; great fit; aussie 4m for aussie 1.5m pre tax profit...what not to like? "Dewhurst plc, an independent supplier of quality components to the lift, keypad and transport industries, is pleased to announce it has signed a conditional agreement to acquire 70% of the business and assets of the partnership trading as Dual Engraving from D.E. Corporate Pty Ltd and Datree Pty Ltd (the "Business" or "Dual"). The agreement is subject to satisfactory due diligence on the Business. ... The key terms of the deal [include] · The Company will acquire the 50% stake of David Waideman (held by Datree Pty Ltd) for a maximum cash consideration of A$2,050,000 on completion. David Waideman will retire from the business and has agreed to certain restrictive covenants for a period of 3 years. ... Commenting on the acquisition, Richard Dewhurst, Chairman of the Company, said: In the year ended 30 June 2012 (the most recently filed financial information), Dual Engraving made a profit before tax of A$1.58m on turnover of approximately A$5.65m. .... "Assuming we proceed to completion, the deal will allow us to provide better geographical support to customers in our important Australian market. Dual has been a customer of our Lift Material subsidiary for several years and we have been impressed with the way the business has developed over that period. There are long term plans for further development in Perth, which should support continued growth of the business, although, of course, there are cycles in all economies."
Dewhurst: Seymour Pierce raises target from 325p o 380p, buy rating kept.
the joy of the DWHT bb And count the paper profit (2* money in 2.5 years for moderate equity risk...obscene really)
FT has details on most listed UK shares. Best of luck on SIPP. For collected Jolly wisdom on markets (for the v limited amount it's worth) suggest you look at my exchanges with Loserdave on SEA bb and with RW on GBO. We all seem pretty cautious on direction of markets until things clear up and improve.
I was very unlucky I never invested anymore in this I have only 8 shares and got in at 358p and never gave it anymore attention and I looked the other day to find it at 440p lol now we are at 470p wow I will be doing a lot more here. Do you know how to find out about which companies pay out dividends and how much they give? I am looking at starting a sipp.
isn't it - all on my own on this bb & price rising nicely on decent sized buys.
SP is 322.5 so 30% discount for not having voting rights....any thoughts? Historically high discount, I think, but DYOR