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Tks B2 no doubt you are correct, I would have just preferred for logistical reasons that in remained here or Europe.
Wilson, - If it were me I'd prefer to manufacture cheaply in Asia.
RNS 30.09 states "Novacyt has codeveloped CO-Prep™, an instrument for sample handling automation."
So I assume IT-IS provided the specification etc, and as the RNS's mention development, but not manufacture, I assume a subcontractor has that responsibility.
JM2c
B2 what makes you think we are not the manufacturer? We designed it(I believe) I'd presume we assemble rather than manufacture. February should be interesting.
B2, yes manufacturing constraints did come into my thoughts. We are aware with materials shortages on some LFT's and with the sudden relentless jump in PCR demand it would not be surprising that reagent suppliers, plastic and a whole host of other raw materials have been heavily restricted due to a lack of supplies. Throw into the mix a shortage of staff due to covid at manufacturing plants and yes our manufacturing capabilities could have been heavily hindered. This has however never been eluded to by the people we are trusting our investment with. One way or the other, we should get plenty of answers within the next 4 sessions.
It's a possibility that £100m will be exceeded due to lively sales reported last quarter by others, but we need to know if the products are limited by manufacturing constraint.
IMO if constrained, we can't improve revenue.
Is the co-prep product a dead duck as the manufacturer cannot deliver? - I'd be surprised if IT-IS manufactured it, but that's the kind of issue I was thinking of.
B2, a lot of your points are valid but most seem to be focusing on EBITDA. I am referring solely to revenue. I agree that we don't know what the margins will be for H2 so we can only go with the latest guidance. I expect in the region 40-50%.
Revenue is more my focus at the moment as given we sold £87m non DHSC in FY20 which for 9 months is just under £10m per month then comparing that with FY21 guidance of £100m then the bod are telling us that average monthly sales are actually shrinking. £100m needs to be smashed in my eyes.
DRB, interested in your FY 21 H2 assumptions.
I cannot see where you are ramping anything! - Laughing out loud.
1
Q In the FY20 accounts, is there evidence that we created and delivered in H1 2021 projects (such as for instance), a bespoke respiratory panel (RNS'd thus: Molecular respiratory panel ready for US market Mon, 7th Oct 2019).
GM later advised that the success of our first to market single gene Covid-19 assay had stimulated a lot of interest in this bespoke design / development service which was, pre-Covid, one of our mainstays.
This project and others like it would not now be considered worthy of a separate RNS, but later larger projects might be evidenced in the 2021 H1 financials.
2
Cash at bank has always for me been like a vehicle MOT certificate, valid for the day it was issued.
It was planned to invest much into developing a nominaly 10 person direct sales team in USA. That might have happened and if it did that would require significant cash, if it didn't we haven't had that outlay.
We stated we would be launching many new projects within the next 12 months, so R&D for that is considerable.
We hired more people, and I would venture that the rate at which new staff are being hired is reducing compared to pre 18.10.2021. Salary bill is higher now than in previous 6 monthly periods.
3
How are we producing the sales we generate?
Is there more subcontract manufacture now, or have we acquired more facilities with which to produce ourselves?
Are we still using Chartwell to assist with making sure we cannot produce the goods faster or cheaper, streamlining our manufacturing capability to combat the increase in orders for a more successful sales / marketing team now DA has lit a fire beneath them?
2 and 3 for me means we have no idea what Cash at Bank is now, nor have we really for the last 6 months.
We have always been good at delivering high margins, and there is more competition around now than ever for all our products.
For ma I think we may still be achieving similar margins with a sales and marketing wiz at the helm. - Lets see.
Maria Van Kerkhove
https://twitter.com/mvankerkhove/status/1484601816759377922?s=10
Dr Maria Van Kerkhove - WHO Covid 19 Expert - On Sophie Raworth today
She stated "Covid is far from over 3 Billion People Globally still haven't received their 1st Vaccine"!
Routy the same as all other virus's... Could take 700 years to phase out covid.... So best we live with it... Jeez
Drb83 6 posts already today.... Take a day off
Covid ain't going anywhere for a long time unfortunately
https://twitter.com/zero_4/status/1485185571567939585?s=10
https://twitter.com/mvankerkhove/status/1484601816759377922?s=10
NHS? and 1 other? Assuming NHS and DHSC arn't all just banded together.
Dr Maria Von something or other
Ffs spell check
Go and watch Dr Maria Avon ????? on Sophie Rayworth this morning talking about COVID!!!
Porky, who are the two biggest customers??
Other differences yoy are:
Headcount was massively bigger in FY21
We started FY21 with £92m cash Vs very little in FY20
We had more machines out in the market in FY21 Vs FY20
We laid the foundations in FY20 in which to build FY21
We had the full year effect of new products released part way through FY20 such as PROmate, SNPSIG, LFT
FY21 had all Alpha, Delta and Omicron.
Yes competition increased and we lost our first mover advantage but at the same time the covid testing market blew up. We should have been selling everything we could make.
The bod have lead us to believe that £100m revenue will be hit but should we see this as acceptable? Given the above. Have they played a blinder and in 4 sessions time going to blow our socks off. We've seen all other revenue generating covid companies smashing guidance and given our platform our growth should be bigger than theirs. I have now arrived at the opinion that £100m revenue is a disappointing year. My socks are well and truly ready to be blown off. GLA
When you exclude DHSC, revenue looks like this:
FY20
UK £29m
EU £32m
Africa £3m
Asia £7m
America £10m
ME £6m
Total £87m
H1 21
UK £21m
EU £21m
Africa £1m
Asia £5m
America £5m
ME £0m
Total £54m
Let's assume the 46m revenue from H2 is as below:
H2 21
UK £19m
EU £19m
Africa £0m
Asia £4m
America £4m
ME £0m
Total £46m
That gives a split of the FY21:
FY 21
UK £40m
EU £40m
Africa £1m
Asia £9m
America £9m
ME £0m
Total £100m
That's Yoy growth by segment of:
FY21
UK 25%
EU 25%
Africa shrunk minimal
Asia 29%
America shrunk 10%
ME shrunk completely
Total 15%
I know we lost our first mover advantage in FY21 but given the increase in testing in FY21 and that FY20 was only 9 months at best does anyone feel that £100m guidance for FY21 was waaaaaay too prudent.
Country coverage as listed by Novacyt:
Algeria Argentina Australia Bahrain Belgium Chile CHINA Czech Republic France Germany INDIA Indonesia Ireland Italy Malaysia Mexico Poland Qatar Singapore United Arab Emirates United Kingdom UNITED STATES
Rapid Lateral Flow
The PathFlow® range of products from Novacyt is a complete solution for the rapid diagnosis of infectious diseases including Flu, RSV, Legionella, Strep A, and Adenovirus. Our latest addition to the range – the PathFlow® Rapid Antigen Pro – is an easy-to-use, rapid, lateral flow test for the detection of COVID-19 antigen for professional use.
PCR assays
Our PROmate® COVID-19 assays are a total workflow solution, inclusive of sample preparation, qPCR amplification, and analysis on the genesig® q16/q32 instruments;
PCR Kits
The genesig® COVID-19 Real-Time PCR range is CE marked, in vitro diagnostic, real-time, reverse transcriptase PCR (RT-PCR) assays intended for the qualitative detection of nucleic acid from SARS-CoV-2. The range comes in different formats and types (1G, 2G, 3G, and HT) to meet your diagnostic needs.
SNPsig EscapePLEX™ kit is a qPCR test for the detection and differentiation of SARS-CoV-2 variants: Beta, Gamma, Delta, Delta with K417N, and Omicron.
ALL exibited from MONDAY 23 Jan at MEDLAB MIDDLE EAST
FFS
Bacteria compared as an quivalent to viruses now !!
Mis-information and idiotic brain-washed moonie purebloods everywhere.
This is from the FY21 accounts. Obviously this is the DHSC.
Reliance on major customers and concentration risk
Primerdesign's revenue includes approximately £190,000,000 (2019: £nil) from sales to the Group's largest customer. No other customers contributed 10% or more to the Group's revenue in 2020.
So this means £87m was non DHSC. It kind of makes the £100m this year look a little flat given our focus completely shifted to selling through non DHSC channels.
2/3's of our sales are non UK.
Also, from our H1 accounts:
Reliance on major customers and concentration risk
Primerdesign's revenue includes approximately £9,264,000 (H1 2020: £nil) from sales to the Group's largest customer. One other customer contributed 10% or more to the Group's revenue in the reporting period.
9.2m = 17% of total sales
5.4m = 10% of total sales
So that is at least 27% of our total sales with 2 customers. Anyone want to hazard a guess who they are?
Southern Hemisphere going into winter soon and already countries like New Zealand are going into more restrictive lock down measures.
Testing going nowhere and hopefully Nova will show in results their breakdown of world sales. I think they always knew from the DHSC disaster last year that future sales lay outside the UK.
Covid news – live: BA.2 variant ‘under investigation’, as total post-Christmas cases nearly hit 500,000 a day