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Can see why this dropped on 5th December...half yearly profits were down on last year and if they continue same as H1, they will most likely be lower final year too. Will wait until finals are out before reviewing but balance sheet looks fine...disclaimer:I am no.expert and I have been wrong before!
Good interview with the CEO, gives much more of an in-depth feel about the results - http://www.brrmedia.co.uk/event/107130/roger-harrison-chief-executive
Shares in building materials supplier Ensor Holdings jumped almost 25 per cent after the company doubled both its half year operating profit and earnings per share (EPS) and boosted the interim dividend by 45 per cent. Revenue for the period increased from £11.1m to £16.2m, while pre-tax profit came in at £1.1m, compared to £0.5m. EPS doubled to 2.8p year-on-year. The dividend was increased to 0.4p from 0.275p the previous year. In a statement the group said: "These very pleasing results include the first full contribution by Technocover which has continued to improve since the acquisition of the company in January this year. The results for our other established businesses have been in line with our expectations, holding up well during an economically flat period. "There are some signs of improvements in the economy as we start the second half of our financial year, but we are not relying on these signs and continue to work hard to maintain a 'tight ship'. "Group cash flows continue to be excellent with cash of £1.22m being generated from operations. During the half year we have financed a pension scheme enhanced transfer value exercise, paid dividends, repaid loans and furthered our capital expenditure plans whilst reducing our gearing to 28% (2011: 34%)."
Building materials supplier Ensor dropped on Wednesday after it cancelled the planned sale of its CMS Tools subsidiary. It had planned to sell the business to a management buyout team, but said the sale was no longer proceeding and the business would remain part of the group. It gave no further details on why the deal was not going ahead. Ensor announced the sale when it reported full year results in June. Then it said CMS Tools, which supplies tools to the roofing industry, had particularly suffered during the economic downturn and had been slow to emerge from recession. The anticipated disposal of CMS resulted in it being treated as a discontinued activity in the annual results, which led to the Ensor taking a £842,000 charge due to losses made on the sale. Ensor's shares were trading down 5.5% at 10:35 on Wednesday, following the announcement.
Update on Disposal In our preliminary announcement of results, made on 15 June 2012, we reported that we had agreed to sell CMS Tools, a subsidiary of the Company, to a management buyout team. The sale is no longer proceeding and the business will now remain part of the Ensor Group.
CONT We have been looking at a number of acquisition opportunities. It is our intention to ensure that any business that joins the Group will strengthen our position within our core activities. Although the second half of the year has started well, there are concerns about the political and economic turmoil in Europe. This region provides many trading opportunities for us and so we must therefore remain cautious with our outlook for the rest of the year. In my last statement, I spoke of our determination to return to being a dividend growth stock. I am therefore pleased to announce that the Board has proposed an interim dividend of 0.275p per share. This is an increase of 57% against last year (2010: 0.175p). It is our desire to continue an upward dividend trend but we will react responsibly to the continuing difficult economic conditions. The interim dividend will be payable on 27 January 2012 to shareholders registered on 30 December 2011. As always, our strength lies with our staff who I would like to thank for all their efforts. I would also like to thank all our shareholders for their continued support. K A Harrison TD Chairman
Interim results for the period ended 30 September 2011 Chairman's Statement * Operating profit: up 31% * Earnings per share: up 27% * Interim dividend: up 57% Continued improvement across the Ensor Group has resulted in operating profits of £607,000 for the half year, a 31% increase on this time last year (2010: £ 463,000). These very pleasing results have been achieved despite the current prolonged recession within the construction sector and a slow start to the year due to Bank holidays and extended Easter and Royal Wedding breaks. I am therefore particularly encouraged for when national economic growth is achieved and when expected government spending on infrastructure is authorised. I was able to report six months ago that the Group was debt-free. This position continues and is improved with net cash of £911,000 being generated over the last twelve months. Financial expenses are unchanged despite reduced interest costs, but include slightly increased pension fund deficit charges. Earnings per share have increased by 27% to 1.4p (2010: 1.1p) Our operating companies have all made progress since I last reported. Margin improvements have been achieved at our door and security companies as a result of the introduction of new profitable products, price enhancements and advantageous currency movements. Volumes in the packaging division have increased and strong co-operation with our China office has helped to offset polythene price increases during the year. The building products division has improved due to better margins on targeted products in new markets. These advances have all been made in conjunction with the continued robust control of costs. We are continuing to capitalise on our property assets. Slow but positive progress towards residential planning permission is being made at our site in Brackley, and land optimisation ideas are being considered for our holdings in the Midlands.
http://www.investegate.co.uk/Article.aspx?id=20111212070000P36CE
In this part of their report, seems like they want to buy some shares back. Share capital ......... At the Annual General Meeting, shareholders will be asked to renew the Company's authority to purchase its own issued ordinary shares of 10p each at a price of not less than 10p per share and not more than 5% above the average of the middle-market quotations of the London Stock Exchange for the five days before the purchase. The authority is for the purchase of a maximum of 4,416,848 shares, being approximately 15% of the issued share capital, and will expire at the earlier of the conclusion of the next Annual General Meeting or 18 months from the date of the Resolution. In addition, the shareholders will be asked to approve the purchase of shares which will be issued to M A Chadwick and A E Coyne, who are each directors of the Company, in the event that they exercise their options over up to 1,172,415 ordinary shares. The purchase price payable by the Company would be calculated as the average middle-market price for the three days prior to the purchase, subject to a maximum purchase price of 25 pence per share. The total value of the purchase by the Company would be limited to a maximum of £152,414, ........... Taken together, the exercise of options and purchase of shares would be cash-neutral to the Company and the shares would be purchased from a market maker.
so they ve good income, ve cash, no debts & have some lands to sell as well.
Work to maximise the value of our property assets continues. Our Brackley site is shortly expected to receive planning permission for residential development, at which point we intend to place the site on the market. During the year we disposed of our property in Sandbach which was surplus to our needs. The continued improvement in our trading results and the strength of our balance sheet has led us to propose a final dividend of 0.35p per share. This dividend together with the interim dividend of 0.175p already paid will result in a total dividend for the year of 0.525p per share. This compares with a total dividend of 0.15p for the year ended 31 March 2010 and demonstrates our determination to return to being a dividend growth stock. Subject to approval at our AGM, the final dividend will be payable on 12 August 2011, to shareholders on the register on 1 July 2011.
well, i did try my best here, when i was in , this s up from 24 to 27.5. then follow the whole market down, anyway
I see so many companies with big Market cap & making a loss every yr in huge debts not paying div.....& their sp r still more expensive than ESR? we ve no debts, £1.2m cash, £21m sales. business in China, + div. n not many share to trade here....etc what is that sounds??
Revenue £21.4m vs Market Cap. 8m?? 2.6 times??
Shares of building materials supplier Ensor surged after it posted a sharp rise in profit for the year, upped its dividend and said it is well positioned to make further progress in this new financial year. Profit before tax rose to £813,000 in the year ended 31 March 2011 compared to £256,000 a year earlier. Revenue increased to £21.4m from £19.4m previously.
I could not get in so have tried VIR again
Yes agreed 30-35 easy. Where are the others?
Ok, I got my LP now, so Alex how much u think this so worth? sounds too cheap @7m market cap. I will try to do more detail research now. my first guess is this will go to 30-35p without problem.
what is LP pls? HSBC still not update....so slow...
What is LP?? can't get an up to date one... anyway, £21m sale. 7 mc? let say 21m market cap= 71p? lol
So £21m sale v 7m market cap?? too undervalued isn't it? remember it is debts free with £1m + cash. pay div. 52p. not many share to trade with. May be 13.2m to tade? business in china....keep repeating myself
70% up today by close. Spread is getting smaller now, ready, let see 30's now.