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Absolutely bizarre. Let’s hope they answer some of the questions sent to them regarding Virolens in the AGM today.
On a day like today ill take it. Growth looks positive and plenty of confidence.
Cautious outlook, not a squeak about Virolens. Not have I received quote from any of the three companies involved that I requested 2 months ago. A little odd.
I wonder if they’ll announce the orders in the annual trading statement on Thursday as they’re not going to RNS every order coming in. Big day Thursday imo. Fingers crossed.
https://www.hartlepoolmail.co.uk/business/hartlepool-electronics-firm-set-to-create-100-new-jobs-as-it-steps-up-production-of-groundbreaking-covid-19-testing-machine-3221063
£4 million investment and double workforce from 100 to 200 to manufacture Virolens covid test machines, the orders must be phenomenal!!!
visit from from chancellor.
Chancellor Sunak said: “I was delighted to visit TT Electronics to see the excellent work they are doing, particularly on the Covid-19 testing device, Virolens.”
you can bet the government will be waving the British flag at this achievement....hopefully along with some big orders.
recent Berenberg price prediction of 285p does not include virolens!!! I really do expect this share price to double over the next 12 months.
....with overweight note
It can be disheartening when share prices appear to be falling, yet the broader sentiment is optimistic. This week has been quite a good example (well, for me and my investments, anyway) where we learn that the UK is most certainly re-starting business and removing many of the obstacles and restrictions to liberty.
The upbeat message to expect one of the highest growth rates in 70 years has not yet translated to share prices in those quoted companies that should be the great companies in the future - hydrogen fuel cell, battery energy, renewables etc. Actually these (in my portfolio) have been the worst performers for the last month.
Time in the market will usually benefit investors. After all, the research to pick the wheat from the chaff for growth companies (and TTG is one IMO) means that news to propel a share price is outside control and will happen when it happens. Trying to time for this is unrealistic and adds a layer of insecurity that need not be present. While it may be disheartening in the short term canny investors tend to have long horizons and desire substantial rewards for patience.
oogleflugal, we MIGHT just hear something in the coming weeks. There is a sense of frustration that although the rollout of vaccine has been conducted at pace in the UK, we are not able to live our drab lives as we did, pre pandemic and that other countries do not share the same progress. The hint of relaxation of rules from late June is great for the UK, but for those wishing to travel there needs to be an effective, minimally intrusive, swift and in-expensive test at the point of departure/arrival for the period that brings all nations onto a level playing field.
It will start with domestic and very short haul (90 min duration) flights, I suspect with Dublin, Munich, Brussels, Paris and Amsterdam as the limit of travel from ANY UK airport. Since the principal ones are, Heathrow, Gatwick, Birmingham, Manchester, Newcastle, Liverpool, Luton, Bristol and Edinburgh, (many others of course), it would not be unreasonable to have 10 points of test in each airport at the point where x-ray screening is made and , by the time that hand luggage has been scanned and passengers are through the control gates, the results will have been processed and a physical stamp provided on a boarding pass. That SHOULD provide the outbound permission for entry to foreign soil and a similar arrangement for testing in the arrivals system before passport control for a similar stamping.
I'd like release of RNS to confirm deployment (co-incidental with Government announcement) of a TTG solution for travel arrangements as people return to normal life. On the assumption that TTG are going to benefit from their expertise the window to buy at present prices is shortening. I foresee increasing volatility in the short term and am not at all confident that announcement is imminent.
It should have been Rishi. Anyway top question to city of London 'Why haven't we heard of Virolens before?' andIs Virolens for real?
The answer to this one is very simple…YES. It’s easy to be skeptical when faced with a technology that seems almost too good to be true. We understand the skepticism but we already have Virolens installed at our first screening centre in the City of London, with the capacity to test 800 individuals an hour. It is very much real and providing quick and accurate Covid test results.
I expect he wants to see how well his/our money has been spent compared to other scams that have been going on. Interesting article talks about already being in use in other countries. As far as I know UK was the first to give its approval. The market is being a bit slow to latch on to this, I expect it will rerate on next update. If they are scaling up the Hartlepool manufacturing site they must have some order figures by now.
and yet no SP movement. Why is TTG unloved?
Oogle, That is correct, the 185p price upgrade does not include Virolens. I think people will have to turn up earlier to venues to get tested, it can then be put on a phone app of some sort as proof. And those buying multiple machines will no doubt get a discount. They may even start renting or a separate company buying in bulk, then renting them. Either way Covid will be here for a long time and this machine is the best on the market. AGM 13th May.
Eddy, yes I forgot to mention the improved accuracy on the September test. See the broker notes don't even mention the possible contribution from Virolens . They had a very good update in January on the gradual improvement on their own electronics business and the integration of the acquisition Torotel. Must be more news due soon not least about orders for VIrolens even if there aren't many yet. I never got a reply from either company about a quote for our rugby club. Not in the premiership but must have been about a couple thousand footfall weekly before Covid. Its pretty important that for many to survive they are going to need to be rearing to go, which I know the players will be, but will need every supporter we can get too, and know they are in a safe environment. Whether it can be afforded or not is another detail that might require grants of some kind
Do you have a link?
Berenberg have issued buy guidence with target 285p.
Oogle, the points I picked up on is the accuracy, more accurate than anything out there, 1/5th cheaper than other tests per test, 25 already supplied, these will be samples to generate sales. Lets say stadium 60,000 capacity, 3 (min) x 60 (1hr) x 2(2hr time before kick-off/concert etc) = 360 test per machine x 2000 machines = 72000. venue charges £2 extra for test (£6/test) - 2hr x £15 labour) = £690 profit/day. 22 open days to pay for machine, back open for business, and after initial period making a profit of £1,380,000 per day on £2 mark up. £30,000,000 outlay assuming £15k/machine. that is just one venue! How many venues, airports, universities, train stations, cruise liners, work places around the world? Imagine if TT only made just £2,000 profit per machine......
Thats very interesting Eddy because when I emailed Keyoptions last year they said they were receiving their first consignment to test last October/November. Maybe they made some improvements since then which would explain quite a lot. I think the key points are as the manager of xtek ltd says with these machines they can now safely open up sports events and many other venues. Sadly Covid maybe with us longterm, but these machines should help us manage our lives with a lot less restriction.
Hi Alas, haha, great posts, what a treat on a slow day... I studied for a finserv qualification recently, (not even equivalent to an o'level), on my way to a career in equity release. As far as mifid, ucits and basel accords go, i imagine that conceptually, they are as irrelevant to as many people here as they were to Neil Woodford...It took me a long time to gain a superficial understanding of the cgt, divi tax, pensions and shelters which you outlined in a few sentences..that's genuine experience, not just learned to pass a multiple choice test, and instantly forgotten like mine..You didn't get that rosette for nothing...troglodyte!.
The importance of NOT sheltering some assets cannot be emphasised enough for UK tax payers. Allowance of Capital Gains Tax (CGT) is generous, though may change in the future, but taxation on dividends less so. AIM is a different kettle of fish.
Tax rules are supposed to be simple. Good decisions that result in an uplift are gains* and poor ones are losses+. Yes this seems simple, but a gain is not a gain and a loss is not a loss until both the buy and the sale have been executed. Gains of £12,xxx (I don't have the exact figure to hand) can be made each year before tax is applied. Losses can be applied against gains and if these exceed those where a gain has been made can be carried forward for future years INDEFINITELY. Assets that could trigger a capital gain are really any asset that is not exempt. Exempt assets include assets that do not constitute a business such as primary residence, wine, art etc
The disadvantage of holdings that are without a shelter such as ISA or SIPP is dividends. This is now pretty thin pickings and limited to that that falls within your personal allowance and just £2,000 after that. In 2019 the FTSE dividend yield had risen to over 5% in 2019 but is currently around 3%. If you only invest in shares in the FTSE that pay a dividend, exceeding roughly £66,000 and there will be potential to pay dividend tax. Holdings in an ISA are not subject to CGT or dividend income tax, BUT losses in an ISA cannot be used outside that wrapper. SIPPs are useful in that the Government will add a minimum of 20% to any contribution (whether a tax payer or not) and at a higher level for higher earners. In other words an immediate uplift of 20% each year for every £1 invested in a SIPP wrapper.
The disadvantage is that the SIPP cannot be cashed in until retirement age and once retired and drawn against are then taxed under the prevailing tax rates at the time. The advantage (for me) is that a SIPP can be transferred outside IHT to beneficiaries.
TTG has the potential to generate whopping revenues as nations re-open using science based solutions with swift results. Of course, although results provided in short time, 100% accuracy is not claimed and additional tests will be required from those that are filtered.
Of the main airports in terms of passenger numbers, London ranks #22 behind 10 cities in China and 6 in America. If the technology is adopted at Heathrow (22m passengers) and Madrid (17m passengers), that is an awful lot of tests sold! Add Frankfurt (18m) or Amsterdam (20m) and ..... well you can see where this is going.
Shares are held for TTG in the ISA for my wife, my SIPP and in ISA wrapper for elder son.
Strategy therefore is not to be a slave to tax, but use tax laws efficiently. It is also important to understand WHY an investment has been made along with understanding of RISK.
Again I stress, I am not a financial advisor and that no-one should infer anything from my comments
Thank you Waterloo1, though I fear placing any credence on an anonymous contributor has dangers. I do stress that I am not qualified to provide any financial advice but I have made more good decisions than bad ones in building my portfolio.
Those that have had the misfortune/pleasure of suffering my interminable drivel will, I hope, appreciate that I tend to comment in matters where I have (and I hate this expression), skin in the game. Actually, I am pretty binary in that I pay greater attention to those holdings that either have the greatest potential or the greatest worry.
To eliminate any confusion, I have built my portfolio entirely from INCOME. Although I began in 1979 following graduation, the real point was after I needed to cash everything in to prevent foreclosure in the 1990's when interest rates were at 16%. The next myth is that although I am extremely well educated, I am not a high earner. My preferred choice is to build my business to allow me to employ others. A note in the preface of an obscure play by the brothers, Kapek, is the mandate on which I like to live my life - "....it is the duty of the rich man to give employment to the poor man....".
Anyway, the advantage of making mistakes is twofold, first not to repeat and second to take advantage. Advantage is difficult when assets are sheltered in a tax efficient wrapper, so it is therefore important when beginning investing for the long term to use ALL the choices available. You will note that I align my drivel with investment rather than trading - totally different - so there needs to be an eye on taxation.
Right now, the bulk of my investments are managed for me when I realised that I had spread my investments far too thinly and had become little more than a managed tracker fund albeit consistently growing at an average 12.5% annually. These were transferred in 2012 to be managed on a discretionary basis and rationalised. I do though keep my "hand in" in managing the SIPP accounts for self, wife and both children along with a couple of tiny dealing accounts and an ISA for elder child. The dealing accounts are cashed in every 18 months or so with the proceeds transferred to a Discretionary Trust to mitigate the effect of IHT that my children will face on 2nd death despite yet to inherit.
So, although some numpty trader attempted to pooh-pooh comments about the wild fluctuations in prices first and last thing, I am correct. The strategy that needs to be adopted concerns shelters and taxation. I will continue in a moment.