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A stonking announcement with future prospects looking excellent as well. It's hard to believe that 10 years ago the company was teetering on a cliff edge as the construction recession took hold. Their share price sank to 7.5p and it looked as though liquidation was inevitable. Congratulations to all those involved in this miraculous recovery which is now complete.
Someone's hoping for a good announcement tomorrow, 30k bought @ 52p (above the prevailing 'Offer' price).
The company broker (finnCap) has raised their target price to 62p following last week's trading update. That appears to be a little strange as their previous tp of 55p has never even been approached. Hopefully they know more details on the likely profits outcome than in-the-dark shareholders.
As expected/hoped for: https://irpages2.equitystory.com/websites/rns_news/English/1100/news-tool---rns---eqs-group.html?article=26963011&company=eleco
At the Construction Awards ceremony last Thursday (16th November): http://irpages2.equitystory.com/websites/rns_news/English/1100/news-tool---rns---eqs-group.html?article=26722458&company=eleco
http://irpages2.equitystory.com/websites/rns_news/English/1100/news-tool---rns---eqs-group.html?article=26477227&company=eleco Sp 7.25p to 47p in 4.5 years that's not bad going!
For the second time in a month the sp is flat-lining which, for ELCO, is unusual ...... I noticed a 100k buy went through yesterday without a flicker to the price (normally it would have jumped) making me think that the MMs are quietly filling a large buy order and therefore happy to soak up what has been fairly persistent selling recently. Happy to hold.
Arrived on Saturday, a massive 86 pages of it but well worth the read as it contains so much incisive information on the company businesses. Exciting times look to lie ahead so really pleased to have built a useful holding and have every intention of staying for the ride. Well done to all those at ELCO who've achieved such a miraculous turnaround during the past five years.
I haven't had time to read all the way through the report yet but, at a quick glance, it looks as tho' their excellent recent progress has been maintained. I'll be sitting tight.
Just announced as next Monday (27th), three weeks earlier than last year's date (18th April). As a believer in the maxim 'good news travels fast', I'll be awaiting next Monday's news with everything crossed. Time will tell!
With numerous 'buy' trades going through this morning, having been all 'sell' trades yesterday, I wonder whether there's been 'tip' somewhere. Looking forward to the annual results announcement.
Buyers around today which nudged the sp up. I'm not surprised as they, like me, may be anticipating that the annual results announcement is likely to impress. I can't understand why it has taken so long for the penny to drop.
The new 48 years old FD (due to start on 20 Feb) looks to be a good fit. The company certainly didn't waste much time in finding a suitable replacement. [http://uk.advfn.com/stock-market/london/eleco-ELCO/share-news/Elecosoft-PLC-Directorate-Appointment/73720239]
Have now seen finnCap's update: yr Dec '16 - pbt £1.7m with eps 1.7p; yr Dec '17 - pbt £2.2m with eps 2.1p. I feel both forecasts are understandably on the conservative side as I personally think last year's ICON acquisition, with a fair wind, could dramatically enhance ELCO's already substantial growth prospects.
Pleasantly surprised to see this burst of buys as I thought the bullish effect of Friday's RNS trading update had run its course seeing there was a lot of profit-taking yesterday a.m. Has there been a tip somewhere? It's been reported elsewhere that the company's broker (finnCap) issued a revised forecast on Friday, apparently, with a new target price of 40.0p. No other detail given (profit/eps etc) unfortunately so don't know how that compares with the 'Options' 2.76p requirement for year ending 2018.
Couldn't ask for better than that. [significantly ahead of market expectations]; seeing as the October 'Options' RNS, setting a target of 2.76p eps for the year ending December 2018, didn't appear to be believed by the market, perhaps this update will to be more convincing. Worth remembering, of course, that the divi then would then would be at least 0.7p. Needles to say I'll be staying put.
Positive and well received by the market. However, there's been immediate profit taking as it reached 38.50p and is now just below 36p, which is also its last swing high of 36p in Nov 2015. Good volume though. Finncap seem confident as it upped their target today from 35p to 40p.
And here it is
Apparently the current edition of the Shares magazine has a write up Elecosoft. I don't subscribe to the magazine but I assume it was positive seeing the recent volume.
Now that the company appears to be in a stronger both financial and trading situation, will they issue a trading update shortly (as was the norm back in their profitable past)? Until the market sees such, I can't see the sp making any further progress. That said, for no obvious reason, buyers have been nibbling over the past couple of days ..... current online quote is 30.0p for 10k whereas at the beginning of this week it was 28.5p.
A frenzied days trading yesterday (by ELCO's standard). Is this a sign that the market has finally woken-up to the potential available for the company following the recent ICON acquisition. I won't be holding my breath, however, until yesterday's trading (and price rise) has been consolidated next week. I'll not be too disappointed if it doesn't happen tho' as I'd like to tuck a few more away sub 30p.
I'm amazed that since the issue of such a revealing RNS, there have been more sales marked than buys. What do investors need before investing these days? In the present uncertain economic climate any kind of profit increase is an achievement ..... isn't the possibility of a two-year compound growth of 40% each year worth taking a chance?