PYX Resources: Achieving volume and diversification milestones. Watch the video here.
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The share was almost £5 a couple of months ago, it should be at least there now and considering we have over 100 million in the bank should be advancing. The company is a solid business with amazing cash reserves.
Starbright. Glad we are not an FMCG company..nightmare.
Bryan Close (Chief Operations Officer)
https://www.linkedin.com/in/bryan-close-48782146/?originalSubdomain=uk
See no reference to US potential, TATA MD, European market …. Testing is still in demand so no news of significant orders. Little made of sales to DHSC other than 4.7m. No mention of sales into French market? SP should be higher than current low. NCYT is great at responding to product development but let down by CTDA …. Unbelievable!!!
@SB - Totally understand your point. But everyone (including myself) wrongly thought sales would be flying in. I'm sure some even said £150m!!
Crux of the matter is revenues were less than guidance, 4.2% less. Just don't see how they can say 'in line with expectation'
All the best to everyone.
Considering the problems the government heaped on novacyt this update shows why no guidance was given. Sourcebio has already highlighted the choppy nature of the markets through the second half. The government going chinese must have been really disruptive.
The results are sound not spectacular but show that the company is adapting to the worldwide markets.
The only problem is that more time is needed for this change of focus. But the new ceo seems to have looked at the problems and now they will be sorted which takes time. 101m of cash and enough money owed by the DHSC for one years revenue. It's taking time because boris will not want this bungle out in the open
£101 million in cash, that's a massive amount of money ready to invest.
@Sp28 - the very first cases of Omicron in the UK were identified in the last week of November. It’s entirely unrealistic to think this would have had an impact on sales in December. NCYT is not an FMCG company….
Maybe most of Dec revenue has been put in for Jan 22
Cash as expected. Fantastic.
However revenues are very disappointing. Less than forecast. Not sure how they can say 'in line with forecast'. And £100m was forecasted before the huge Omicron wave, so therefor Omicron had ZERO impact on sales!!!
We were all calling out for an RNS update on new sales/guidance etc. However we were completely wrong! There was no RNS, because there was NOTHING to report.
See how it goes. No idea which way it will swing.Cash in bank is the only saviour.
Market surveillance department.
Another smart move , clearly shows that government are consistently moving goalposts regarding testing policies and company won’t be wasting money developing and researching tests /equipment unless they know they will be financially protected .
“In addition, an international scientific advisory board, and in-country and therapeutic area advisory boards, are being established to assist with market surveillance and direction of future innovation. This is crucial as clinical development, regulatory hurdles, associated costs, and timelines have increased meaning it is important the Company is confident in future value creation before embarking on significant investment in development programmes. In the interim, Novacyt continues to build a strong pipeline of business development opportunities for partnership, licensing, and M&A to strengthen the business and accelerate growth.”
Bunny Hill....for what posting the truth....you cant cut and copy an rns to suit your agenda...and miss bits out...no jog on...are you even invested?
There's two ways to look at this - those who are sitting on very high averages complaining day after day about this not being £10 are not going to be too happy., the update isn't sexy and isn't likely to bring bags of sentiment back here anytime soon, there isn't going to be a massive race to get in this morning... I'm not even sure if we're going to see a rise today.
On the other hand... f***** hell the fundamentals are strong for a company valued where it is today, ludicrous in fact.
Abingdon are more helpful in providing details of their DHSC dispute and settlement has been agreed in principle, but is subject to the outcome of the GLP judicial review. That is due in May, so I expect the DHSC to settle no long thereafter.
Yes - you have to look at EV here not MCap. And prior year comparisons we all know are irrelevant.
This is all on the positive side of expectations. The doomsayers have been disproved by an underlying business that continues to deliver sales with strong gross margins.
“Company STILL believes it can assert contractural rights “
Ongoing dispute with the DHSC
As previously disclosed, the business remains in dispute with the DHSC in relation to a supply contract entered into in Q4 2020. During the course of 2021, the Company endeavoured to show the underlying performance of the business by excluding any financial impact of the disputed revenue. At this time, the Company continues to engage with the DHSC to resolve the dispute and continues to believe it has strong grounds to assert its contractual rights.
Who was the jack ass claiming we wouldn't have anywhere near 77m cash yesterday? you were correct, just not in the way you asserted. Company is now valued at least than cash and money owed by DHSC ignoring any future revenue.
That is a huge war chest (102m), no other player in our sector other than ONT has that kind of cash.
Reasserting they have strong grounds to assert contractual rights with DHSC, even with the new CEO having analysed it.
Bad first - did not reach our forecast but just under, and no news on DHSC or indeed details on how we done in other markets.
Good - over £100m in cash, still good profit margin and most importantly moving a lot of our sales away from UK market so not all of our eggs in one basket. Around £13m in non Covid sales and this is expected to increase. COVID sales still to be over £40m next year so would expect around £55m revenue next year.
Overall this does not reflect in current sp or market value so should be increase today but more importantly small glimpse of non vivid future is in train so expect small increases in sp going forward
Mkt cap? You conveniently ignore cash. That was 101m. So the equity value here is 68m. You think this biz is not worth 68m?
I’m happy with that update. Very happy.
revenues drop from £277 mill to £85 mill and are forecast to be 50% lower in 2022 to £47 mill with an ebitda of 40% that leaves only £15 mill to cover ITDA ,, so a huge loss this year coming.... on a market cap of £170 mill......
First read…
Sales close (enough) to indicated level of £100m
>£100m cash
Margin maintained at 70%
DHSC no more news
https://www.**********.co.uk/rns/announcement/45b339de-9907-4aef-8c93-6fd2229c33ad/