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Any reason for todays rise?
Still 9% shorted which is worrying.
Yours
vb6 (ex ii)
Ultra Electronics Holdings PLC
06 August 2018
London, UK, 6 August 2018 Edison issues outlook on Ultra Electronics (ULE)
The overall picture of improving global defence spending supports a return to organic growth for UItra. This is already reflected in the uplift seen in the order book at the H118 report. The company is well positioned to leverage the growth in naval budgets and increased demand for military aircraft around the world. Ultra also has a significant role to play in commercial aerospace, energy and cyber markets.
Our fair value is 1,918p. We calculate our estimated fair value of the company as a simple average of the discounted cash flow and sum-of-the-parts measures, currently 1,918p (previously 1,811p). Our valuations reflect the lower share count due to the £134m share buyback. The increase largely reflects improved global defence sector ratings on the back of increasing defence spend.
Ultra Electronics Profit Declines On Lower Revenue, Finance Costs by Alliance News | 6th August 2018 09:40 Ultra Electronics Holdings PLC on Monday posted a significant reduction in profit in the first half of the year due to higher finance costs and lower revenue. In the six months ended June 30, the technology company recorded a pretax profit of GBP20.0 million, down from GBP30.9 million the year before. Revenue dropped to GBP350.5 million from GBP366.4 million, though Ultra reduced its expenses and costs resulting in an increased GBP30.4 million operating profit from GBP25.4 million. However finance costs, including a substantial loss on closing out a foreign currency derivative contract, helped dragged its pretax profit down. The company's interim dividend for 2018, 14.6 pence per share, equals the 2017 interim payout. "From advfn website news " Yours vb6
That was yesterday. I though algos were a bit quicker than that!
Half year report indicates drop in profits. Hence the fall Yours vb6
Or maybe not. Down 7% at the moment. Anyone know why? Yours Shouldn't Have Tempted Fate vb6
Currently down 8% after one hour's trading. Any clues as to what has brought this on? It is as if we have been selling kit to Iran and have suddenly be caught out by re-imposition of sanctions!
Good recovery from the drop to £12 last autumn.
Seems to have stabilised around £16.5.
£18 would be nice.
It's good that the appointment of the new CEO didn't cause a ripple.
Yours Hopefully
vb6 ex ii
Smacks of another Petrofac. Geeeze. This will hamper SP. Petrofac rose quite well even after SFO intervention, so any guesses which way this will go over next few weeks
Yes it must have been somewhere but I use the diaries on LSE, the times and digital look..no mention on any of them!!
I got up early this morning because I knew there was an update scheduled. Can't remember where I acquired the advance info though.
Was this a scheduled trading statement as I cant find it any financial calendar?
Good Post-Close Trading Statement & 6.91% short interest, that should help drive this quite a bit higher
perhaps for last week's big fall. No posts then on this forum and no posts today but maybe better no posts than sheer speculation. about defence spending and blah blah.
That’s about right.
Even today's RNs could not engineer a rise here. And who knows what tomorrow brings? There are budgets in the air. If Hammond does a helicoptor drop on the housing sector then defence will be in his crosshairs and that won't be good news for ULE. More falls to come before I parachute into this regime.
MoD cutbacks mean very valuable technology scattered across several quoted defence companies with falling share prices. Most of these companies have both MoD and DoD accreditation. This sub-sector is now very ripe for consolidation.
We haven't seen one of those for a while. More of the same please...!
and continues its descent. The rally last week from 1196p was a sucker's rally after a fall. The UK budget may also be weighing on this share as hammond may look for Defence cuts to free up money elsehwere. I am sitting on my hands for now but this falling knife will be very tempting around 1100p.
There is a blog post on Ultra Electronics available here: hTTps://www.sharesoc.org/blog/company-news/abcam-agm-cambridge-cognition-ultra-electronics-wey-education-idox/
Falling again so far. Does it signal a wave of selling to drive us down yo low 1100s is in the offing?
Back below 1200p sp worth tracking down imo. I am not yet tempted but think this could now be sold down quite aggressively. Another poster mentioned 1070p but I think I would buy at 1100p to 1120 should it arrive.
Given this company has only showed growth by acquisition rather than proper R and D and it cannot hide behind Barak O dove like defence policy on performance issues. Trump will only buy pure US equipment. The UKMoD spent up on the new Carriers x 2 something has to give. Its no Afren but will be selling assets and reinventing itself to what it was 15 years ago, do what they do best and not over diversify. Its a crowded sector at the moment.
Ok fair play Digsby. Looks like you are being rewarded for your timing. The market seems crazy dropping this 19% today for a 4% miss. But I find myself the market doesnt misprice these falls by 15%. I see little in the statement today to tempt me in despite the fall but Digsby has called it correctly it seems.
Hi Fallingknife, I must confess that I could not resist...! Bought some more about an hour ago. I am a sucker for top-ups in situations like this. It has worked for me more times than not - if we exclude Afren and GKP...! Hopefully, ULE not quite in the same category.