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Movement!
Small market-cap and sooooo few shares on offer... Things could get interesting here today and she could easily move! As Allways... DYOR before investing!
Ensor Holdings PLC ("Ensor", the "Group" or the "Company") Interim results for the six months to 30 September 2014 Chairman's Statement * Sales up 11% * Operating profit up 98% * Dividend up 20% This time last year I anticipated that a great deal of hard work would begin to generate rewards this year. I am delighted that our results for this half year reflect the confidence shown twelve months ago. All companies in the Ensor group have performed very well and, with growing order books, I am optimistic for the immediate future. The only shadows on the horizon could be interest rate rises affecting market confidence, weakening foreign exchange rates and, with an election approaching, political uncertainty next year. Despite these concerns, I believe the Ensor group is well placed to maintain steady progress. I have mentioned that all our subsidiaries have had a strong first six months. Technocover, our manufacturer of high security products, as predicted, has commenced the programmes of work for the UK water utilities. They are also seeing increased enquiry levels which we feel will carry the company into the next five year Asset Management Programme period of the water industry. Progress into new markets, particularly Rail, is being made as investment in equipment, product development and LPCB testing programmes are completed. Ellard designs and provides specialist electric motors and controls for industrial doors and gates, supplying these products to manufacturers in the UK and Europe. Since moving into new purpose built premises twelve months ago, the company has increased market share and has recently finalised an exclusive agreement with one of its European suppliers which we believe will secure Ellard's position in the market. Working in the same markets as Ellard, OSA Door Parts manufactures insulated industrial doors and garage doors. Providing close technical support to their door industry customers allows OSA to introduce new and researched products which can be brought to market quickly. This year OSA is expected to expand into larger premises as these new product developments come on line. Both companies are benefiting from an increasingly active construction market. Ensor Building Products distributes roofing materials, including natural slates and flat roof membranes, drainage systems and other specialist building materials. Recent work to replace low margin, high volume products with higher margin, lower volume alternatives has had a positive impact on the company result. This trend is forecast to continue. Wood's Packaging has made significant progress this year following an excellent trend of results in recent years. Supplying general packaging materials, specialist protection for furniture transportation and removal, the company has benefitted from a buoyant retail market. Close co-operation with sup
41% share free float and of that 922k shares are held in Treasury. Directors recent purchases around 70p. http://www.ensor.co.uk/investors.html Sale of land in Stockport in 2013 with planning permission granted for residential development. The company are "confident that a completion of the sale of the site will be at the end of 2014". The sale is for a price which is a premium to the book value according to the 2013 results. Last year ex-dividend date was 23rd of December so share price should build in the lead up to announcement.
Acquisition of Technocover Limited announced Tue, 17th Jan 2012 Ensor Holdings PLC announced the acquisition of 90% of the issued share capital of Technocover Limited, a manufacturer, supplier and installer of physical security products, based in mid-Wales for a nominal amount. At the time Technocover audited accounts for the year ended 31 August 2010 reported sales of £10.3 million and an operating profit of £ 290,000, prior to loan write-offs of £542,000 and interest charges of £245,000. Net assets at that date were £433,000. Ensor injected £1 million into Technocover to complete the reconstruction of the business. Ensor agreed to purchase the remaining 10% for £1 million after 31 August 2015, subject to Technocover achieving an operating profit of at least £1.5 million for the two year period to 31 August 2013. On 24th October Ensor announced early acquisition of the 10% remaining stake following "the successful integration of the Technocover business and on the basis that the conditions for the additional consideration have been achieved" No wonder they have paid early! In the Prelimary Results the company states: "Over the course of the year, Technocover returned £1.1m of the group's initial investment of £1.5m." According to the company this is despite "a slow pick-up in orders at Technocover, which resulted in a small reduction in sales revenue of 1.4%"
Net borrowings of £1.8m down to £0.22m over the year after cash of £2.78m generated. Should be debt free by December 2014. http://www.ensor.co.uk/PDFs/Ensor%20announcement%202014%20%285%29%2012-6-14.pdf
Nice update today, seems muted reaction however with impact yet to be felt. Next set of results due in December
Good to see the turnaround today and confidence by Kenneth Harrison,,,,,,,,,,,,,:-)
not in myself although do follow it now and again.
security products/materials company...small cap (and Faraday territory as below £20M mcap). made free cash flow last year and cash went from negative to positive too (now at ~£500k) but at least positive now.
touch pricey...but may be justified by management & market position
yep...I like ESR...very good company...and utrs too!
ENSOR HOLDINGS PLC - Holding(s) in Company PR Newswire London, June 10 ENSOR HOLDINGS PLC ("Ensor" or the "Company") Holding in Company Ensor announces that it has today received notification that following an acquisition of the Company's ordinary shares of 10p each ("Shares") in April 2014 Mr David Stredder has a notifiable interest in the Company's Shares. Mr Stredder has informed the Company that he has an aggregate interest in 897,000 Shares representing 3 per cent. of the Company's issued share capital excluding treasury shares. Enquiries: Ensor Holdings PLC Roger Harrison / Marcus Chadwick
and a confident buy of £45000,,,,,,,,,,if this breaks the 80p I see very good day's ahead for ESR.............DYOR of course
Up again as interest returns,,,,,,,,,looking forward to results :-),,,,,,,,,quiet here !
Does not take much buying to move it this morning,,,,,,,,,,,DYOR Link that works,,,,,,,,,hopefully http://planning.stockport.gov.uk/PlanningData/AcolNetCGI.gov?ACTION=UNWRAP&RIPNAME=Root.PgeResultDetail&TheSystemkey=117989
Bought into these over the past couple of day's,,,,,,,,,not easy to get hold of,,,,,,,,,so maybe seller has gone ? Good cash flow plus with all the activity in the building sector I'm expecting positive news here,,,,,,,,,, News soon on Stockport land sale hTTp://planning.stockport.gov.uk/PlanningData/AcolNetCGI.gov?ACTION=UNWRAP&RIPNAME=Root.PgeResultDetail&TheSystemkey=117989
Buying some ensor building mateirials this week. Lets hope that that the UAE are doing their bit
The UAE has confirmed that many of the products offered by technocover for civil defence are on their list of approved products. The list was published yetersday http://www.redbooklive.com/pdfdocs/redbook-vol2part4.pdf
December 2013 A company that makes security doors and access covers for the water industry is investing £350,000 in new plant and proceses. Technocover, which specialises in in physical security products for utilities and critical national infrastructure, is celebrating 20 years of engineering innovation from its long-standing home in Welshpool, Powys. With a new programme of factory investment and training underway, the company is looking forward to many more years supporting the Mid Wales economy and skills pool as a major employer. Founded in September 1993, Technocover quickly established a niche in the design and fabrication of certified high security access covers for the water industry. It went on to add accredited high security doors, cabinets, buildings and allied products to create a market-leading range of water protection systems. Now a £12+ million business employing 142 people, Technocover has diversified into the energy, telecommunications and transportation sectors with its respected Sentinel and UltraSecure brands, as well as supplying government establishments and other high security sites in both the public sector and National Infrastructure applications. It is also making headway in overseas markets. Since January 2012, Technocover, which incorporates TechnoRail and Strataform, has been part of the long established UK group, Ensor Holdings PLC. Under the new ownership, the company has pressed ahead with an ambitious investment programme to add to its range of innovative physical security access products. For the last 18 months, Technocover’s 6,967 sq/m site has been a hive of activity as its R&D team work on 10 new product models and new production plant has gone live. Managing director, Michael Miles, said: “The company recognises the importance of investment, in our workforce, production facilities and R&D, as we develop new markets and aim for our growth targets. This financial year we have a planned capital spend of £350,000, 40% up on last year.” Latest additions to the factory include a new £100k press with a five-metre long bed. This allows larger products to be made from single piece steel. The company has also installed a state-of-the-art paint spray coating plant, contributing to its expanding range of aesthetic finish products. With logistics playing a big part in its service offering, Technocover has replaced plant and its vehicle fleet for delivery and installation. The investment underlines the strategic importance of the company’s ‘Total Service’ capabilities which range from site surveys and security consultation to product installation and maintenance. Ten employees have recently completed the first in a series of on-site workshops in ILM (Institute of Leadership Management) team leader training, fully funded by Skills Growth Wales and delivered by Awbery Management Ltd. Skills Growth Wales are co-fina
Offset to that is the mention of go aheads on the utility company deals. It all depends on how much they want to increase dividends. Cost base has also been reduced