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should be up 20% on today's volume,b..tard MMs.
what a blindingly good recover this week - I posted yesterday saying I thought it would recover to £2 within a year - i may be eating those words soon!
I post this seems to have gone up another 10p - hardly surprising.
Post is not mine, but one I thought was excellent, on Stockopedia and deserved a posting on here.
The action of the bod has been encouraging compared to many aim boards, however many pi,s are on high paper losses at the moment..
I posted the other day that we should aim to finish the week at £1.40. From today's buying, we could be closing above £1.50.
It's a real shame the rest of the directors/CEOs on aim can't behave in a similar vane with some integrity. Are you in Worsley?
Thank you very much for the post. Very informative.
My thoughts on SPRP I attended a question and answer session with the management last night. The main points: A lot of detail on the nature of the battery failure issue but importantly I was reassured that they have been conservative in their provisioning for future claims. Clearly they cannot guarantee 100% that they will not have to top up the warranty provision but I think they have built in a lot of slack. It sounds like they handled the situation with customers well; they were pro-active in explaining the problem and feedback has been good. Going forward, they will update at each results the returns they are experiencing under the warranty, against their expectations. They do have some redress against the battery supplier but only for the cost of the battery and not the whole unit. The battery is typically 15% of the cost. The supplier, is clearly being cooperative as I guess it would like to receive future orders! The downgrade to 2016 forecasts was principally due to its German distributor postponing its orders until the battery issue was sorted out. Sprue is now using a higher spec Panasonic battery in its alarms destined for Germany. It competitors in Germany use Panasonic batteries. German certification will hopefully be given next week, 4th May and the products will then ship towards the end of June for sales in H2 2016 and beyond. Germany should provide significant growth in the coming years driven by new legislation in Rhineland next year and Bavaria the following. After that we come to the 10-year anniversary of first sales in Germany, which should see a decent replacement cycle kicking in. The company is confident about prospects but has taken a cautious and conservative view on provisions for the battery problem and sales in 2016, 2017 and 2018. The Executive Chairman Graham Whitworth; “there is only one profit warning”, “we need to deliver, deliver, deliver” and “we don’t want to over-promise”. Brokers forecasts, which I believe they are happy with, are for earnings per share of 11.2p in 2017, rising to 12.9p in 2018 with a dividend of 8.0p in 2016, 9.0p in 2017 and 10.0p in 2018. These I think should all be seen in context of the preceding point about the company being conservative in its forecasts. It’s worth noting that its own forecast for H2 2016 of £3.8m is above the H2 2015 result of £3.1m Conclusion: I take my hat off to management for fronting up to shareholders, being open about the problem and I also rather liked the apology to shareholders in Tuesday’s results statement; you don’t often see that sort of thing. I guess the healthy attitude is fostered by the fact that our interests are aligned; management hold a lot of shares in the company, (Graham Whitworth, Exec Ch. 7.3%, and Nicholas Rutter, Managing Director, 6.5%) and will be desperately keen to see the share price recover. I think this is a one-off problem, it has been han
Sold my other holdings. Gla
Strong start to the day, great opportunity to top up.
7:1 buys vs sells. similar yesterday ... lets hope that this upward pressure continues over the coming weeks so that we see a return to a sensible valuation. record growth and profits show that this is still a great company with great prospects IMO ... I believe this will return to £2.50 shortly
Starting to move nicely now on small buys following massive buying yesterday, great Divvy return at these prices - lock them away.
is a thing of beauty for anyone buying at these levels. Complete reversal is in order and there's a good old gap for this share to rise into towards previous levels. Let's finish about £1.40 this week!
As others have commented elsewhere, I thought the tone of today's results summary was correct in the circumstances. No further shocks or surprises following on from last week's trading update & pleasing to see that the dividend was maintained at 8p for the year. At the current shareprice this provides a annual dividend yield of 6.3%. I was delighted that ShareSoc & Sprue have arranged a meeting for Private Investors tomorrow evening. Paul Scott sums the position correctly - IMHO - via his excellent daily STOCKO blog, "This seems an excellent idea. Well done to ShareSoc in taking the initiative. Well done also to SPRP management for being prepared to face private investors, and answer questions, so soon after a major profit warning. I'd like to see more such meetings, and maybe webcasts too, when difficulties arise at any company. I often complain about the lack of specific information available to private investors, especially when there are problems at a company. SPRP is a very good example of how the bad news was actually handled very well - the company published specific guidance on its revised profit expectations, and has agreed to meet private investors to answer questions. ALL COMPANIES SHOULD DO THIS. Vaguely worded profit warnings, with no figures, are just totally unacceptable, which sadly is the norm from most companies." --- I'd agree that the Sprue team are to be commended updating PI's at the ShareSoc event (this evening). Hopefully this will be the start in restoring investor confidence. In my post last week (post 1375) I commented on the low Enterprise Value of the company which has now fallen to c. £34m, with over £100m wiped from the market cap in recent weeks. Also mentioned that Sprue had their fair share of trials which they have battled through previously. I don't believe this setback over batteries will be any different and still believe most of the growth drivers previously placed in the header information stand. Sprue's management & employees will be doing all they can to address the situation and deliver on their ambitious growth plan. I've every confidence they will.
As others have commented elsewhere, I thought the tone of today's results summary was correct in the circumstances. No further shocks or surprises following on from last week's trading update & pleasing to see that the dividend was maintained at 8p for the year. At the current shareprice this provides a annual dividend yield of 6.3%. I was delighted that ShareSoc & Sprue have arranged a meeting for Private Investors tomorrow evening. Paul Scott sums the position correctly - IMHO - via his excellent daily STOCKO blog, "This seems an excellent idea. Well done to ShareSoc in taking the initiative. Well done also to SPRP management for being prepared to face private investors, and answer questions, so soon after a major profit warning. I'd like to see more such meetings, and maybe webcasts too, when difficulties arise at any company. I often complain about the lack of specific information available to private investors, especially when there are problems at a company. SPRP is a very good example of how the bad news was actually handled very well - the company published specific guidance on its revised profit expectations, and has agreed to meet private investors to answer questions. ALL COMPANIES SHOULD DO THIS. Vaguely worded profit warnings, with no figures, are just totally unacceptable, which sadly is the norm from most companies." --- I'd agree that the Sprue team are to be commended updating PI's at the ShareSoc event (this evening). Hopefully this will be the start in restoring investor confidence. In my post last week (post 1375) I commented on the low Enterprise Value of the company which has now fallen to c. £34m, with over £100m wiped from the market cap in recent weeks. Also mentioned that Sprue had their fair share of trials which they have battled through previously. I don't believe this setback over batteries will be any different and still believe most of the growth drivers previously placed in the header information stand. Sprue's management & employees will be doing all they can to address the situation and deliver on their ambitious growth plan. I've every confidence they will.
I have brought more today. GLA
Buys versus sells interesting today...heavy buying but not as much upwards movement as you might expect. I expect this to be £2.50 by the end of 2016.
Good post WB and in total agreement - this was oversold with an element of panic - the Company holds over 50 patents, has small free float, pays a good Divvy, it should be an ISA tuckaway in many a PF's - certainly been a great opportunity for a hefty top up - and I note many are doing this today.
Personally I am avoiding consumer discretionary buys retail, auto, housing, commodities, banks, supermarkets etc. Fire safety equipment is an essential, very few would gamble their families lives by refusing to buy a smoke alarm and other life saving products and I like the legislative element. Therefore I regard SPRP as a good, long term investment with an excellent dividend. I see little point in diving in and out of oilies, commodities and retailers.
Personally I am avoiding consumer discretionary buys retail, auto, housing, commodities, banks, supermarkets etc. Fire safety equipment is an essential, very few would gamble their families lives by refusing to buy a smoke alarm and other life saving products and I like the legislative element. Therefore I regard SPRP as a good, long term investment with an excellent dividend. I see little point in diving in and out of oilies, commodities and retailers.
Drops always upset investors & it takes a while for confidence to return - some gentle buying here and for good reason - looks like good Value IMO - nice steady Divvy in the ISA!
Half a penny by the look of it
This afternoon. Once that clears we are good to go :-)
http://www.sharesoc.org/events.htmlompany meeting shareholders tomorrow