Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Plastic and fibre group Filtrona posted a leap in both revenue and adjusted pre-tax profit for 2012 on Wednesday, boosted by growth in its Filter Products and prompting a 19 per cent increase to the dividend per share. Revenue for the year came in at 663.4m, compared to 540.7m, up 23% at actual exchange rates and 26% at constant. Pre-tax profit, adjusted to exclude the impact of acquisitions, disposals and foreign exchange, climbed 26% from 76.2m to 95.8m. The dividend per share was increased from 10.5p to 12.5p. Basic earnings per share (from continuing operations) totalled 25p, up 5.0p from 2011. The gross margin rose 20 basis points (bps) (+10bps at constant FX) to 35.9%. Colin Day, Chief Executive said: "With like-for-like revenue up 11% and adjusted earnings per share (EPS) growth of 30% at constant exchange in 2012, Filtrona continued to make excellent progress towards its Vision 2015 objectives. "Our results were supported by successful new product development, range expansion and geographic roll-out, and were underpinned by further investment, organisational changes and a more focused commercial structure. The integration of recent acquisitions continues to proceed well, with synergy delivery in line with expectations.
The company is looking at value-adding acquisitions to facilitate its objectives.
"He has played an important role in the delivery of Vision 2015 to date, and in the re-focusing of the division on packaging solutions and authentication and identity solutions so as to leverage our capabilities better. We wish him every success in his future endeavours." Vision 2015 seeks to deliver profitable growth in existing and future markets and technologies. The objective is to gain revenue increases and double-digit adjusted earnings per share rises at constant exchange. The FTSE 250 company said it was on track to delivering its targeted balanced growth in 2012 and continues to make progress towards the company's strategy Vision 2015.
Plastic and fibre group Filtrona announced Monday the resignation of its Managing Director of the Coated and Security Products division. Tony Edwards will step down to pursue opportunities outside the company. He will remain with the group until end of June and his successor will be announced in coming months. Colin Day, Chief Executive, said: "On behalf of the board and the group management committee, I would like to thank Tony for his dedication and commitment to Filtrona during his 23 year career with the company, of which 10 was as managing director of the Coated and Security Products division.
a few weeks makes - have gone from 8% down to 2.5% up - hoping we can continue the trend.
make that 8% down on the week :-(
As I understand it MG sold enough shares to cover the cost of exercising his option and kept the balance in shares. Either way SP down nearly 6% this week. GS
Filtrona PLC Sell 25-Sep-12 £30,146.24 Matthew Gregory 5,744 @ 524.83p
Tipped in Motley Fool last night as good growth potential
Steve Crummett is to step down as Group Finance Director of Filtrona to be replaced with immediate effect by Matthew Gregory, currently the foam products supplier's director of Corporate Development. Gregory joined Filtrona in 2003 as Finance Director of the Moss Plastic Parts business. Before being appointed to his current role in 2010, he was Finance & Business Development Director of the Protection & Finishing Products division. In his new role, Matthew will continue to be closely involved in mergers and acquisitions activity alongside his successor as Corporate Development Director, who will be announced in due course. Crummett leaves Filtrona after six years in the post to pursue "other opportunities outside Filtrona".
Steve Crummett is to step down as Group Finance Director of Filtrona to be replaced with immediate effect by Matthew Gregory, currently the foam products supplier's director of Corporate Development. Gregory joined Filtrona in 2003 as Finance Director of the Moss Plastic Parts business. Before being appointed to his current role in 2010, he was Finance & Business Development Director of the Protection & Finishing Products division.
Russ Rogers, the president of Porous Technologies at Filtrona, the FTSE 250 speciality plastic, fibre and foam products supplier, has sold 101,739 shares in the company. Rogers was awarded the shares under the group's long term incentive plan on August 9th and on the same day he sold 23,616 of them to cover the tax due on the transfer, along with the remaining 78,123 for a profit of £414,833. Altogether the shares were sold for 531p each for a total of £540,234. Following the transaction Rogers now holds 115,668 shares, equal to 0.055% of Filtrona's total shares.
Citigroup downgrades Filtrona from buy to neutral, target price raised from 470p to 515p.
FILTRONA OPENS NEW MSI FACILITY IN HOUSTON Filtrona has opened a new office, plant and warehouse for its MSI Oilfield Products business in Houston, US. MSI -which was acquired by Filtrona in 1994 and is part of the company's protection and finishing products division - is the market leader in oil country tubular goods thread protectors and pipe protection products, manufacturing the broadest range with the highest quality standards in the industry. Headquartered in Houston, with over 30 years in the business and more than 200 employees, MSI services the world through additional locations in Nisku, Canada; Veracruz, Mexico; Aberdeen, UK and its wide distributor network. Source: http://www.stockmarketwire.com/article/4369552/Filtrona-opens-new-MSI-facility-in-Houston.html FILTRONA'S MSI OILFIELD PRODUCTS BUSINESS IS SET TO DOUBLE CAPACITY THIS YEAR http://www.youtube.com/watch?v=ILCrOXymrjU FILTRONA INVESTOR PRESENTATION OF 2011 FULL YEAR RESULTS http://www.media-server.com/m/p/532eriub P.S. Here's a couple of links about SCLP, one of the hottest stocks at the moment: http://www.euroinvestor.com/community/discussionthread.aspx?threadid=252803 http://www.euroinvestor.com/community/discussionthread.aspx?threadid=253089
Commenting on today's Interim Management Statement, Colin Day, Chief Executive, said: "With Q1 revenue ahead 8% on a like-for-like basis and 22% at constant exchange, the Company has not only maintained its positive organic growth trend into 2012 but is also progressing well with the integration of recent acquisitions. We are also pleased to have completed the acquisition of Jae Yong, a value-creating transaction in Porous Technologies which enhances both the product range and the geographic presence of the division. Given this strong start to the year, Filtrona remains well-positioned to deliver further balanced growth in 2012 and to continue to make progress towards its Vision 2015 objectives of at least mid single-digit like-for-like revenue growth and double-digit adjusted EPS growth at constant exchange."
Sales at Filtrona (FLTR) rose 21% year-on-year in the quarter ended 331st March as it achieved a 61% increase in revenues from its protection and finishing products division, helped by the acquisitions of Reid Sully and Richco. The plastic, fibre and foam products supplier also announced the acquisition of South Korean pen nibs and tubes manufacturer Jae Yong, increasing the group's presence in Asia. Filtrona shares crept up by 2.9p to 463.2p.
Citigroup initiates buy on Filtrona, target price 405p.
Financial Position Net debt was £80m as at 1 October 2011, a £2m reduction since end-June, benefiting from continuing strong operating cash flow. Acquisition Completion As previously announced, the Company completed the acquisition of the assets and business of Reid Supply with effect from 6 September 2011. Commenting on today's Interim Management Statement, Colin Day, Chief Executive, said: "With year-to-date revenue growth of +10% at constant exchange and +8% on a like-for-like basis, the Company has continued to see positive momentum. As a result, while mindful of the current economic uncertainty, we are well-positioned to deliver balanced growth for the remainder of 2011 and into the next financial year."
Company Financial Performance During the third quarter1 of 2011, the Company's overall performance was in line with the Board's expectations. Revenue was +10% versus Q3 2010 ("comparable period" 2) at both actual and constant FX: like-for-like ("LFL" 3) growth was +7%.
http://www.investegate.co.uk/Article.aspx?id=201110140700111642Q
JP Morgan Cazenove downgrades Filtrona from overweight to neutral, target price 366p
Commenting on today's results, Colin Day, Chief Executive said: "The Company delivered strong half year results, reflecting the quality of its market positions and the cash generative business models in all divisions. The results have been further supported by ongoing investment in the business and by new developments, underscoring thecommitment to be an innovation-leading supplier to our customers. Whilst mindful of the current economic uncertainty, given the current platform and momentum in the business, combined with an accelerated drive on balanced growth across all divisions, the Company is well positioned for continued positive development through the second half of 2011 and into the next financial year."
STRONG, BALANCED GROWTH ACHIEVED IN HY 2011 WELL POSITIONED FOR CONTINUED DEVELOPMENT HY 2011 highlights: · Revenue up 10% (constant FX), with strong performances from all divisions. · Operating profit1 up 12% (constant FX). · Operating margin1 up 30bps (constant FX) to 16.2%, level at actual FX. · Adjusted EPS up 18% (constant FX) to 13.0p. · Working capital improvement: 14.9% of revenue, down 210bps. · Strong operating cash flow of £43.1m, up 72%, with net debt reduced to £81.5m (FY 2010: £90.8m). · 10% increase in the interim dividend, to 3.3p per share.
http://www.investegate.co.uk/Article.aspx?id=201108240700089085M
Commenting on the acquisition, Colin Day, Chief Executive of Filtrona, said: "The acquisition of Reid Supply is an excellent addition to the PFP division. The business has a long standing reputation for high service levels with a broad and complementary range. These products will significantly enhance PFP's offering both in the US and Europe, with Reid Supply's customers also gaining access to PFP's US distribution network and product range. This acquisition demonstrates Filtrona's commitment to identifying quality acquisitions where it can leverage its commercial model and global infrastructure to achieve faster growth."