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I am sure there will be more to come. At the last trading update, they advised that they went to 6.1m cash positive and profits up 10%. https://www.investegate.co.uk/eleco-plc--elco-/rns/year-end-trading-update/202101190700040938M/
ELCO upped their sales focus on the US and are sure to benefit from the Biden infrastructure spending.
Only just noticed this 50k trade transacted on 10th (@ 104p) but notification held back ... par for the course!
This interview from September is great watching for those interested in ELCO https://www.youtube.com/watch?v=kOitn4U8vRQ
And still heading higher - 102.5p - so much for my lack of confidence!
A few largish buy trades have gone through recently following the trading update ... another 20k one @101p this morning. I'm a long-term ELCO supporter but even I haven't got that kind of confidence.
Sold too early again shucks
Price continues to inch up - 95/98p - and now at a 12 year high, bodes well for the future hopefully.
Company broker, finnCap, have a near-term target of 125p now.
Target met today sold out @93 be back later as no more news for ages will try to buy again before final results.
I have been a holder of Eleco for about six months now. It's a quality business with a strong market position, experienced management, a good ROCE, strong cash generation and a solid balance sheet.
I can see this attracting more attention over the coming months.
Taking into consideration the disruption being caused by the Covid-19 pandemic, an outstanding statement:
(“Eleco” or the “Company”)
Year-end trading update
The Board of Eleco Plc (AIM: ELCO), the AIM-listed construction software specialist, is pleased to announce that its financial results for the year to 31 December 2020 are expected to show significant profit growth.
Based on unaudited management accounts, the Company expects to report revenues similar to 2019, which stood in excess of £25m, whilst profit before tax is expected to be at least 10% ahead of the prior year.
The business finished the year strongly with total revenues in the second half improving 6% on the first half of 2020 and being some 2% ahead of the equivalent period in 2019. This is despite training and other face-to-face service revenues continuing to be affected by Covid-19 restrictions.
Cash generation remained strong, resulting in a further significantly increased net cash position of £6.1m at 31 December 2020, compared to £1.1m at 31 December 2019.
Serena Lang, Executive Chairman, commented:
“Eleco has shown great resilience throughout 2020 despite the adverse impact of the Covid-19 pandemic on our customers’ business activity and the timing of orders as well as on our training and face-to-face services.
“We continue to provide support to our customers which will enable them to keep working through these challenging circumstances. I have been encouraged by both the number of new customers won as well as the increase in uptake among existing customers and thank the teams for their hard work and commitment.
“I would like to take this opportunity to welcome Stella Toresse who has recently joined us as Company Secretary. With a background and degree in Law, Stella is a Chartered Company Secretary and Fellow of the CGI (formerly ICSA). Stella also has a master’s in Corporate Governance and brings with her a wealth of experience in diverse sectors.
“We are nearing the completion of our strategic growth review and will continue to build a business that draws on our core strengths, allowing us to benefit from the accelerated digitisation of the built environment.”
Definitely not a get rich quick share been in this for a few years now sell occasionally buy back a few months later holding now till sell gets to about 90p but who knows might get lucky one day.
Noticed Eleco mentioned in this, seemingly an occasional supplement to Shares Magazine. It's not clear to me if it's been written by the magazine or is more by way of paid content. It does give a useful overview of the company though, esp. if you've not been following Eleco's progress closely.
https://issuu.com/shares-magazine/docs/spotlight_shares_2611120
Much as previously intimated by the chairman - https://eleco.com/results/latest-results - which, in our present economic climate, is more than satisfactory.
The news of ex-chairman John Ketteley's immediate retirement was not unexpected but still leaves a huge hole on the Board of which he's been an outstanding member for 23 years. Fortunately, in Jonathan Hunter, there is a younger but well- coached (John's been his mentor for the past decade) board member as his replacement CEO so Eleco's progressive expansion should continue unabated.
Happy retirement Mr K.
Released on 24th September last year so 2020's could be next week. We know from what the chairman stated in July that the figures will be good - [Unaudited revenues for the six months ended 30 June 2020 held up well and were lower than revenues for the same period last year by only 4 per cent.
Unaudited management accounts for the six months ended 30 June 2020 also showed that profits before tax increased by 23 per cent, compared with profit before tax in the same period last year and that adjusted profit before tax* increased by 14 per cent.
Strong cash-flow in the period ended 30 June 2020 also enabled Elecosoft to improve its net cash position from GBP1.1m at 31 December 2019 to GBP4.4m as at 30 June 2020.
The Board of Elecosoft expects to release Elecosoft's interim results in late September and will announce the date in due course.
(* Adjusted profit measures exclude acquisition and corporate finance related expenses and amortisation of acquired intangible assets.)] - but has that been maintained since then?
In Shares magazine today hence the rise, no doubt profit-taking shortly. With Interim figures coming late-September (and we already know from what the chairman has indicated that they are likely to be pleasing), happy to stay on board for the longer term.
Both 'buys' and 'sells' during the past couple of weeks, with yesterday's 497k trade marked as a sell almost certainly a buy (as the sp went up). Someone stake building?
Now officially registered with Company's House as Eleco plc. Onwards (and upwards?).
Steady as she goes:
https://irpages2.equitystory.com/websites/rns_news/English/1100/news-tool---rns---eqs-group.html?article=30916191&company=eleco
THAT report, the one published by a Dexter Burt last Thursday containing numerous unproven accusations in his ongoing attempt to discredit Elecosoft; that was the reason for the panic selling last Thurs/Fri which caused the sp to fall 14% presumably making him a lot of money. Thankfully, the market appears to come to its senses during the weekend.
What report came out las week?
Interim results were released in September last year but, in view of the allegations published in THAT report last week, I sincerely hope the company manages to issue some sort of communication earlier this time round.
This is a first class company with a great future.
A classic 'Shorter's' ploy last week ... fictitious report swiftly followed by posts from planted but concerned non-investors to get the panic rolling and hey-ho share price plummets by 14% in two days. An easy 10% profit for those involved with panicky investors rushing for the exit on seeing the price tumbling.
Just three weeks earlier the company chairman had issued his AGM statement revealing that pre-tax profits ( to 30 April) were actually UP 25% and cash resources had improved by a further £2.0m, not exactly what you would expect from a company in trouble.
Just taken advantage of this little pull back to add to my holdings. Great value.