Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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So if no update tomorrow,when can we expect to find out what is going on in this company.
Rick_shares on twitter, who seems reliable, said they confirmed last week that results would be issued by end of month. Strange that they have now not decided not to do so. Understand the reasoning but you would have thought they should have made this decision weeks ago.
Hi Nick,
Yes I have had some communications from Mandy about 30 minutes ago and they confirm they will not be issuing .
So, the text below is then what we then have to work with. Taken from the FY2020 report.
Personally I'd be disappointed of we don't get an update as in this stage of the business a month is crucial, and yes the DHSC update is key. The market is continuously changing so yes, H1 results and an update on the outlook for H2 should be provided.
It's not like this company is already on par with the likes of Astra Zenica or Pfizer or the likes.
Just my view and no, it won't make any difference to my holding here.
MS
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For the five months ended 31 May 2021, the Company had unaudited sales of £88.4m compared to £40.8m for the same period in 2020. This £88.4m includes £40.7m of sales to the DHSC, which are part of the dispute. Excluding the DHSC, the Company saw a run-rate of over £10m in sales per month in Q1 2021, which has declined to approximately £7m per month in April and May as infection rates eased and testing has dropped sharply. This is a repeat of the trend seen in 2020 as countries moved into the summer period and the spread of COVID-19 declined.
Looking forward, the Company expects strong growth in private testing as markets and travel re-open, which could lead to higher infection rates, and an increase in testing to return in Q4 2021, in line with Q4 2020, during the winter period. The Company also expects to see significant new growth from the launch of new products during the second half of 2021, including an expansion of its lateral flow antigen testing portfolio for both professional and home use. If demand picks up in line with expectations, the Company expects to see full year sales of approximately £100m, excluding the sales to the DHSC which are in dispute.
In the first five months of 2021, Novacyt has delivered a gross margin of over 70% and an EBITDA margin of over 40%, excluding the impact of sales to the DHSC, and the Directors are confident the Company can maintain these levels of underlying profitability for the balance of the year if volumes are in-line with its current expectations. This assumes no further sales to the DHSC for the balance of the year and no further provisions or adjustments relating to the current dispute.
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I was saying that for ages, we already have the H1 in the annual report, but others were banging on about needing a H1 update. I'd much rather a dhsc update or product update, reiterating what we already know is pointless.
If I was taking over the running of a listed company I would want a very clear line drawn in the sand for my performance to be measured from. I think DA will be having a close look at the H2 numbers to make sure that nothing is going to creep out and bote him in a few months time.
Agreed
Kind of upstaged by Grahams Goodbye message today....
They do have to publish an official H1 for 2021 with comparison to H1 2020 but nothing to stop them i guess publishing that before 30th September 21 on a fully audited basis before the official deadline.
I don't need to see one myself as the figures were already declared so, only going to be circa £7m in it, but i appreciate a number here would like a rough cash at bank figure?
All part of the fun i guess
Kaeren - advisors have told the board not to issue.
“following further discussion with our advisors a decision has now been made not to release H1 results with so little to update the market on following the recent YE2020 announcement.”
Half saying defo others saying not. Agree dates should be set in stone. Not phased whether we do or don't as we already know more or less know the contents. I am much more interested in a detailed update on LFT'S, what is going on Stateside , future R & D plans etc. Icing on the cake would be resolution of the Dhsc dispute. So I M not holding my breath. Porky I suggest you don't nail your cross to a mast unless the company has written to you confirming a date.