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UVEL UniVision Expects "Substantial Growth" As Annual Profit, Revenue Rise By Alliance | Mon, 4th September 2017 - 18:09 [...] LONDON (Alliance News) - UniVision Engineering Ltd on Monday reported growth in profit in its last financial year and said it expects to achieve "substantial growth" going forward. The Hong Kong-based surveillance systems supplier said pretax profit in the year ended March 31 grew to GBP425,000 from GBP138,000 the year before, as revenue rose to GBP4.8 million from GBP3.9 million. UniVision said revenue growth was mostly due to a rise in construction contracts, while profit was also helped by an improved gross margin for maintenance contracts, a gain from the disposal of its Taiwanese subsidiary, and the strength of the Hong Kong dollar. The company said it expects to achieve "substantial growth in the business in the coming years", after signing a "major" contract worth GBP38.1 million in May with MTR Corp Ltd, which it said was a milestone for the group. The contract provides for the replacement works of the CCTV systems for numerous railway lines of MTRC. UniVision will replace the existing analogue CCTV system installed in the stations along the specified lines with a unified IP-based CCTV system. The contract commenced in mid-May and the completion date for the replacement works is anticipated to be in November 2023. The board expects revenue from the project to be generated in the current financial year. UniVision proposed a final dividend of 0.042 pence, which is flat year-on-year. "The board expects that the high demand for its network and high definition security and surveillance system will provide the ground for the company to grow in these markets. With regard to resources and capacity, the company continues to tender for new contracts. Some major infrastructure projects, such as the Hi Speed Rail Hong Kong line, are due to be completed in the coming years, therefore the board is confident with the prospects for business growth," Executive Chairman Stephen Sin Mo Koo said.
Annual Results to 31st March 2017: https://uk.advfn.com/stock-market/london/univision-engineering-UVEL/share-news/UniVision-Engineering-Ltd-Final-Results-FY2017/75573020 Turnover from continuing operations in the year increased by 8.6% (*underlying rate) to GBP4.8m (2016: GBP3.87m). This increase was mainly due to the 13% growth in construction contracts. The new major contract with MTR Corporation Limited ("MTRC") in Hong Kong awarded in May 2017 is a milestone for Company. The Board expects that the Company will achieve substantial growth in the business in the coming years. In maintaining its dividend policy, the Board declares a final dividend of 0.41 HK cents (gross) per share for the financial year ended 31 March, 2017 (2016: 0.41 HK cents) NEW MAJOR CONTRACT WITH MTRC As announced on 12 May 2017, the Company won a major contract valued at HK$389.4m (GBP38.1m) with MTRC following a tender process. The contract provides for the replacement works of the Closed Circuit Television (CCTV) systems for numerous railway lines of MTRC. The Company will replace the existing analogue CCTV system installed in the stations along the specified lines with a unified IP-based CCTV system. The Contract commenced in mid May 2017 and the completion date for the replacement works is anticipated to be in November 2023. The Board expects revenue from the Project to be generated in the financial year ending 31 March 2018. Currently, the Company is working on the design stage, including the system-level design. The first billing to the customer is expected in the 4(th) calendar quarter of 2017. The Company has solid and proven experience in installing CCTV systems. The Board is confident that the Company will be able to fulfill all requirements under the contract in a professional manner. The profit from the continuing operations attributable to the equity holders of the Company is GBP452K (2016: GBP138K). i) 13% growth in the income from construction contracts; The Group generated positive net cash of GBP409K from its continuing operating activities in the year (2016: GBP61K cash outflow). The Hong Kong company, in which the continuing operations are based, has no bank loan and maintained a cash balance of GBP1.19m at the year end. The net working capital at the year-end was GBP2.5m (2016: GBP1.8m). The Directors attribute this to close monitoring and effective control of working capital. Updated 05/09/2017
and paying a better divi than most footsie 100 companies!
tripled profits improved margins paying a divi and yet to book the 38 mill gbp contract to the accounts... crazy!
RED TO BLUE
3x profit this is going to blow
Results out
September will bring the Annual Report to 31st March 2016. Declaration of dividend. Conclusion of Chairman Stephen Koo's sale of 51% of the company. Under the MOU, Stephen Koo has agreed to sell UniVision Ordinary Shares ("Ordinary Shares") equating to 41 per cent of UniVision for 32.8m RMB to Hai Li. It is intended that the consideration will be fully paid by Hai Li within 12 months from the MOU having been signed. In addition, Stephen Koo has entered into another Sale to Mr Xin Hai, the legal representative of Hai Li, on 6 September 2016, agreeing to sell a further 10 per cent shareholding in UniVision for 8m RMB. The payment will be completed within 12 months after the agreement has been signed. The sale price is 2.43p a share at an exchange rate of 8.58RMB to the pound sterling. Number of unquoted securities in issue: 383,677,323 Percentage in public hands: 27.094% [103,973,623 shares]
Ultimately fair value is well over 4
Yup.
On balance I think it'll go again tomorrow.
Maybe it will take another contract or trading update to re-rate the share price? Probably s/b 4p min. Trouble is .. so many shares that should be far higher are being ignored while other shares are seeing sharp spikes way ahead of their true current worth .. utter madness...
Yup. 7.15 all day long.
Mms making a killing here
The value of the additional works is HK$7m (£0.7m) and has not been included in the original contract sum of HK$389.4m (£38.1m) as announced on 12 May 2017. The total value of the Contract including the additional works is therefore HK$396.4m (£38.8m).
Correcting itself back to 6p by the looks of things. Contract worth £38M MCAP way off.
This is well worth a read. (link: http://www.scmp.com/magazines/post-magazine/long-reads/article/2106229/shanghai-metro-keeping-worlds-longest-mass) scmp.com/magazines/post…
UniVision Engineering UVEL Surveillance in MTR trains will provide 100 percent coverage by 2023 August 7 2017 https://goo.gl/hmYLBS
Outrageous...1.95 to buy 1.67 to sell
Calm before the storm? Zero trades since middle of last week?
Tomorrow as many have taken a position, no one selling...
Afternoon Dave it's a bit back I suppose (uvel) all the lads at pool were in stitches when showed blog even women's pool team ,it made the nite, i'llbehave now Graham
Welcome unclewarzy welcome and good luck mate.Dave.
Taken a position here this morning.