Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Big drop of over 3 squid seems tempting to buy some more. Market seems very nervous though.
Agree with you that a stock split would be welcome ....100:1
Plus got the small yield along the way. I think I will trade it this time with a TP of 120 to 140 pounds. Don't think many small pi's hold these so they can move quickly on fund buying selling. Good share though which could do more. I am sure a share split would help.
Friday 17th November the Chair (actually his wife), the Group Chief Executive (Nicholas Anderson) and the Chief Finance Officer (Nimesh Patel) each purchased shares in the Group to the value of £90,000
Outlook
"Excluding the currency effects set out above, compared to 2022 pro-forma sales of £1,734 million we anticipate Group full year 2023 sales to be lower by between 1% and 2%, with an adjusted operating profit margin slightly improved on the 20.2% delivered in the first half of the year, which is consistent with the lower end of current market estimates. We continue to anticipate a recovery in demand in our Biopharm and Semicon WFE sectors during 2024. While it is always challenging to predict the precise timing and scale of demand changes, we remain confident in our continued ability to drive growth above IP. Therefore, while it is too early to provide guidance for 2024, we do anticipate a return to revenue growth and improvement in adjusted operating margin in the coming year."
This is the most frustrating company, it has the financial resources and presence to move forward in to new technologies and it is sitting on prehistoric technologies it needs to invest in engineers and create new products instead of sitting on its laurels - shameful leadership in this climate of change. Bet nothing changes...G
I am not a holder of these shares. The divi is wayyyy too low, it’s under 2 percent. I really wouldn’t bother with this share, what with the Blackrock interest. Also looks to have high liabilities these days. I would rather buy into a high divi company, plenty of them in the FTSE 100 at the mo paying 8 percent or more. Miners, house builders, Insurance, etc. If you feel compelled to buy in though, just buy in at the Covid low of 78 pounds.
Hi everyone
I keep looking at the share, my finger hovers over the buy button, but I just can’t seem to execute that deal. And I then kick myself out of trading hours for not following through and then I start the whole process again the following day. It’s a bit like an itch you just can’t scratch…… and I know timing the market is not a science, but nobody wants to pay more than they have to. The stock seems to have been day traded over the last couple of weeks/days, which at £80+ pounds a pop is quite a punt and I guess averaging down for those who hold higher is not necessarily going to be a viable option.
Gritstone, Mr.Picky & DenFos - food for thought in your posts. Can I ask…. If you didn’t already have shares in SPX, would you be buying now or would you hold out for 2024 results?
Times today rates a buy. Brokers saying Sell!
Not a buy until 80 pounds…..
Recent shorts have also been closed another positive point
Fantastic share
excelllnt results
nice yield
Another year low closing price today, not a buy until it hits the lows of April 2020 of 80 pounds.
Yes - but where is ther any hard evidence that they have the engineering minds and corporate will to take this company from the "steam age" in to the new economy - it should be heralding new products - i think the city sees this hence the downturn in the price which is substantial for a company of this nature, G
I listened to the first 90 minutes of the post results analyst's meeting. I experience Nick Anderson's presentational style as somewhat flat and hesitant but he knows his stuff. The results appear to have surprised the market and, overall, they did show a material down turn.
Their original Steam Specialties business (c54% group sales) is performing well with organic sales, operating profit and margins all up and no reasons to have worries about the second half. In Electric Thermal Solutions (c23% of sales) sales and operating profit grew but mostly due to acquisitions. Weakness in Semicoms effected this division and, IMHO,
will prevent it from firing on all cylinders for the full year. The major downturn was in Watson-Marlow (c23% of sales). Destocking by their Biopharm customers resulted in sales falling 20% causing a near halving of organic operating profit and a 1220bps drop in margins. This is what scared the market and the destocking is not expected to finish until early 2024. On the balance sheet I note that borrowings, following acquisitions, have crept up to 1.8x EBITDA, about as high as I want to see them.
You have to believe that the destocking at Watson-Marlow is a one year, once off event to be confident of buying even after today's markdown [they think it will resume long term growth next year]. They say overall margins will be down between 100 -200 bps and organic sales will be up 0 - 4% for FY2023. The shares may tread water until next year's full results come out, meanwhile the interim divided has been raised 8% after last year's 12% so dividends are at least growing in real terms.
I wonder if this might herald a change in technological leadership and embracing of new thinking. This share has been in the doldrums for a long time, the City must think its a dying species....
Picky…see the RNS dated 14 June. BLACKROCK activity having the desired effect for them. No telling where this will drop to……
The MB on this share is not very active but does anyone know why the shares fell nearly 7% today? If i find out anything I will post here. For SPX it is an enormous one day movement.
on quite steely results. 12% hike in the divi with a confident outlook I cant see why the market is getting steamed up about SPX. More to come here and worth buying on weakness.
Well Sterling is substantially now more hard hit than when you posted, and the sp has regained some of its recent decline which does support the notion that the company’s global stretch provides some underlying strength. If Kwarteng’s strategy proves right then the company is well placed to make the most of the economic growth he forecasts, and if he has made a big mistake then the company is fully able to cope.
Do holders here see the weaker pound being a big positive for the company in the short to medium term?
Considering the challenges the latest news sounds positive, and the increase in dividend is welcome . Market though seems not so convinced
The interim results are due out on Thursday 13 August which should tells us whether a price above £120 can be sustained. I'm a bull with my fingers crossed !
After wallowing around in the doldrums today’s start sees us breaching £110. Hopefully that portends well.
I think it's arrived........if deglobalisation and 'reshoring' start in earnest then SPX in going to have even more tailwinds.