Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
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ZOO were in a similar position the other day, dropped to 59 on the 22nd now at 82. NCC has great fundamental so WILL bounce back and look at those huge delayed buys...... Interesting!! GLA
If you fancy holding a couple of weeks, this is on offer:
Dividends
The Board is recommending an unchanged interim dividend of 1.5p per ordinary share (H1 2018: 1.5p). The interim dividend is expected to be paid on 28 February 2019 to shareholders on the register at the close of business on 8 February 2019. The ex-dividend date is 7 February 2019.
P/E was too high really. But it’s certainly not now with a nonsense 30% drop. Crappy UT to finish. Couple of volatile days but should return to respectable price you’d think. House broker happy with progress.
A bit like Metro Bank yesterday - buy today near the close and should bounce tomorrow.
Seems way overdone. Results weren't bad.
I'm not in here but I've read the results and they don't seem too bad, I think the problem was the valuation to begin with being too high
Well, I hope so.
A 30% drop is exploding my head somewhat.
Figures are all strong apart from he smallest of decline from Escrow. Major re adjustment and solid growth over next few months to come. Shorter just having fun today, adjustment due, i'm picking up more at these bargain prices. GLA
It wasn't "fine" though. It was good. At least, to me.
LONDON (Alliance News) - NCC Group PLC on Thursday lifted its earnings expectations for financial 2019 following a surge in first half profit on strong US performance.
The cyber security firm said pretax profit rose by 58% to GBP8.7 million in the six months to the end of November 2018 from GBP5.5 million reported in the first half of financial 2018.
Revenue for the period increased to GBP126.0 million from GBP116.8 million, driven by US Assurance business which recorded 20% revenue growth to GBP37.7 million.
Overall, Assurance division reported 9.7% year-on-year growth in revenue to GBP107.1 million.
"We are pleased with the progress we have made, with continued growth in our core Assurance division and a particularly strong performance in the US," said Chief Executive Adam Palser.
Meanwhile, Escrow revenue for the half year fell slightly to GBP18.9 million from GBP19.2 million a year earlier, as 11% growth in the US was offset by 4.4% and 5.3% declines in the UK and Europe, respectively.
"While profits from our Escrow division fell slightly, our experience in the US has given us confidence that we can re-energise the growth of this business," added Palser.
The company declared an unchanged interim dividend of 1.5 pence per share.
Looking ahead, NCC Group said it now expects to deliver annual adjusted earnings before interest and taxes of GBP34 million, up from GBP31.0 million reported the year before. Previously, the company expected its adjusted Ebit to remain unchanged in its financial 2019.
In the first half, the company's adjusted Ebit totalled GBP14.8 million, up 7.2% year-on-year.
NCC Group expects to report its full year results on July 25.
Down 25% now. WTF.
need to be better than "fine" to justify giddy rating ...
Same... results look fine.
Not seeing what was particularly bad about these results.
Growth in some areas, with small reductions elsewhere.
Cash position has dropped a bit but expected to reverse back up.
Down 20%?
hold onto your butts
....as we move towards a trading update later this month. Hopefully we will hear that trading is continuing to meet/beat expectations
Good to see Fidelity increasing their stake - they now have 5.38%, or 14.95m shares:
Https://www.investegate.co.uk/ncc-group-plc--ncc-/rns/holding-s--in-company/201809280700122486C/
Jefferies have a 275p target and say Buy:
Http://citywire.co.uk/money/the-expert-view-aa-boohoo-and-mitie/a1158945?ref=citywire-money-latest-news-list#i=6
"‘Attractive’ NCC turning around, says Jefferies
IT and support services group NCC (NCCG) has moved on a long way since it was in crisis management mode a year ago and the company still remains attractive, says Jefferies.
Analyst Ken Rumph reiterated his ‘buy’ recommendation and target price of 275p on the shares, which rose 2.4% to 206p yesterday.
‘Versus the crisis management still underway a year ago, NCC is now driving its strategic transformation as set out under the new top team at July’s full-year 2018 results,’ he said.
‘With disposals completed, acquisitions lower priority, and a growing cybersecurity market to take advantage of, NCC remains attractive with plenty of room for improvement in margin and cashflow terms in its medium term plan.’"
Peel Hunt say Buy with a 275p target (and Shore Capital also say Buy, no price target given):
Http://investing.thisismoney.co.uk/broker-views/
Looking good for this year given the solid performance to date:
"The Group has made a solid start to the year and continues to trade in line with the Board's expectations for the full year Adjusted Operating Profit(1) at the time of the Preliminary Results on 17 July 2018.
Adam Palser, CEO, commented "We are shaping our future through the Securing Growth Together transformation programme, which is in its early stages but has made a promising start. I'm pleased with our overall performance in the quarter and remain excited by the Group's long term prospects."
Peel Hunt say Buy with a 275p target (and Shore Capital also say Buy, no price target given):
Http://investing.thisismoney.co.uk/broker-views/
Berenberg upgrade today to Buy, with a massive increase in the target price to 260p (from 195p):
Http://investing.thisismoney.co.uk/broker-views/
Looks like the recent strong results are attracting buying interest.
Just back from hols, and on first read extremely pleased with the results. The improvement in cash flow in particular is most impressive, and the outlook seems pretty bullish.
Peel Hunt have this to say, with a 275p target:
Http://citywire.co.uk/money/the-expert-view-royal-mail-rio-tinto-and-galliford-try/a1139057?ref=citywire-money-latest-news-list#i=8
"NCC just starting its growth story, says Peel Hunt
NCC (NCC) has delivered ‘solid’ full year results but it is only at the start of a ‘multi-year’ growth story.
Analyst Damindu Jayaweera retained his ‘buy’ recommendation and target price of 275p on the stock, which was trading up 6%, or 4.8p, at 84p.
It reported earnings 8% ahead of Jayaweera’s expectations and ‘strong double-digit organic growth across key assurance divisions’.
‘Free cashflow, coming in at £20 million, reflected significant operational improvements made by the current team…With financials now stabilised, NCC looks to build on these assets. For example, organic expansion via small offices is a viable strategy until such time when M&A will make sense.’
Jayaweera said the share valuation is supportive and a ‘solid track record in recent months and a chief executive with a vision’ means ‘NCC is still only at the beginning of a multi-year secular growth story’."
biggest morning rise i can remember.
Great news, market seems to like it. Glad I checked my trading account on 17th.
I'd take another look at the facts if I were you Rivaldo. A CFO on at least 6 month notice period, being given the boot with 2 months notice (just long enough to take the rap for the year end results, so the Chairman can blame everything on him once he's gone, like he did with the old CEO)? How does this (and the out-of-the-box 'don't make yourself look unattractive to potential new employers' platitudes) make you think this is anything other than another CFO taking the fall for another year of underachievement? 2 months is in no way sufficient time to handover to a new appointee - no-one senior enough to get the job would have anything less than a 6 month notice period. There'll be another half year of junior finance staff trying to hold the business together (who the N E Chairman will blame for the next set of results, naturally) and whoever comes in may just find the same situation and follow the same pattern. Obviously human nature dictates that having money invested in a company makes you prone to optimism, but I'd be careful how far you let it keep you from cashing out as the price slides. Just keep an eye on your trading account on the 17th, I'd suggest.
Good to see the CFO is leaving on amicable terms, and with sufficient time in hand to hand over to the new appointee. But more to the point, there's also hidden in the RNS these encouraging comments about trading and outlook: "I leave behind a business which is in good shape and with excellent prospects." The Board confirms that the Group continues to trade in line with its expectations and will report Preliminary Results for the year ending 31 May 2018 on 17 July 2018."