Member Info for nicton

It's been a long time coming but worth the wait. I browsed through the Annual Report at the weekend (made for very pleasant reading) which, given the many imponderables concerning the world economic climate, left me confident to stay awhile longer! Given the cost pressures faced by the company last year, it's remarkable that they were able to increase profit margin from 6.0 to 6.5%.

Trading Update for the Quarter to 31 March 2019

2019 started well. Unaudited management accounts for the quarter ended 31 March 2019 showed that revenues increased by 20 per cent (22 per cent at constant currency); and Profit Before Tax for the quarter ended 31 March 2019 was higher than the Profit Before Tax in the quarter ended 31 March 2018 and is in line with market expectations. Elecosoft was also cash generative in the quarter, and as at 31 March 2019, had net debt of £0.9m, compared with net debt of £2.1m as at 31 December 2018.

John Ketteley, Executive Chairman said, "Elecosoft continues to perform well reflecting both the international spread and strength of our core construction and visualisation software businesses. We have been encouraged by the trading performance of our recent acquisitions in the UK and Germany and the opportunities for realising synergies which we anticipated when acquiring these businesses."

In view of the ongoing economic uncertainty because of the never ending Brexit childishness, a cracking set of figures. Just a taster from the report:
[Highlights
• • Revenue increased 5.2 per cent to a record £77.3 million for the Billington Group (2017: £73.5 million)

• • Profit before tax increased 11.4 per cent to £4.9 million (2017: £4.4 million)

• • Dividend increased 13.0 per cent to 13.0 pence a share – covered 2.58 times by earnings

• • Cash balance of £9.3 million (2017: £8.1 million), providing a solid platform for further growth

• • Strong start to 2019 with robust forward order book and solid pipeline of potential new orders

Mark Smith, Chief Executive Officer, commented:
“We are delighted at the progress which has been made across all our Group companies during 2018 and this has helped Billington deliver a record performance.”
“The level of secured work Billington takes forward into 2019 is unprecedented and ensures that we can look to the future with optimism. Undoubtedly 2019 will present its challenges, however, we are confident it will be another successful and progressive year for the Group.”
“Billington continues to monitor both the challenges and opportunities which may result from the UK’s exit from the European Union. To date we have seen no discernible impact on trading or enquiry levels.”
“2018 has been a successful year for Billington further cementing its position as one of the leading structural steelwork companies in the UK. Consistent, managed growth over recent years provides the Group with a solid platform to further enable it to progress and develop. The Group’s strong financial position will ensure that as opportunities for development arise, we are able to capitalise and ensure further success.”]

Scheduled for next Tuesday (9th).
Today's buying activity possibly a delayed reaction to a tip/write-up (@ masterinvestor.co.uk) on Tuesday.

Ridiculous to see the price has now been marked down below that prevailing before what was such a positive trading update.

https://irpages2.equitystory.com/websites/rns_news/English/1100/news-tool---rns---eqs-group.html?article=28777959&company=eleco
finnCap (co broker) have upped their tp to 93p was 88p. Their estimating in 2019 (2018 actual in brackets):- T/over £27.6m (£22.2m); EBITA £5.7m (£4.8m adj); EPS 4.5p (3.8p adj); DPS 0.8p (0.68p); pre-tax ROCE 18.1% (15.8%).
Bearing in mind the company have had to incorporate two acquisitions during 2018, figures seem excellent to me.

Scheduled for 19th March, eight days earlier than last year's. Usually a good sign in my book, old stock market adage of 'Good news travels fast'!.

Bravo! What more could you ask for:
https://irpages2.equitystory.com/websites/rns_news/English/1100/news-tool---rns---eqs-group.html?article=28551411&company=eleco

Seguro Nominee Holdings @ 5%

hTTps://uk.advfn.com/stock-market/london/billington-BILN/share-news/Billington-Holdings-PLC-Holdings-in-Company/79090788

Last year's issued on 23rd January, will we be getting one next week?

https://irpages2.equitystory.com/websites/rns_news/English/1100/news-tool---rns---eqs-group.html?article=28230855&company=eleco

Looks like another snug fit combining beautifully with the company's own Esign subsidiary.

https://irpages2.equitystory.com/websites/rns_news/English/1100/news-tool---rns---eqs-group.html?article=27818822&company=eleco

https://www.elecosoft.com/news/announcing-elecosofts-acquisition-of-shire-systems/

A snug-looking fit and, on the surface, one which wasn't very expensive. Her's hoping it turns out to bb another ICON!

A little short-sighted (imho ... not that I'm biased at all!). After what seems like an eternity, ELCO has finally registered on a lot of radar screens and, if the anticipated July trading statement confirms what the chairman had to say at their recent AGM, there should be more petrol left in the tank. I'm living in a dream world at the moment and just hope I manage to stay asleep for a while longer &{:-;}

Creeping steadily higher, breaking through 80p much to my surprise and delight; my 'sell finger' is beginning to twitch! It's interesting to remember that ELCO's industrious chairman bought 1.0m shares @ 8.375p on 6th June, 2012, which prompted me into a buying mood. Mind you, on 9th January, 2008, he'd bought 15k @ 93p plus 10k @ 95p! He who dares does win occasionally!!

What more could a shareholder ask for? [ Trading Update for the four months to 30 April 2018 2018 has started well and Elecosoft's revenue for the four months ended 30 April 2018, based on unaudited management accounts, has increased by 7 per cent, compared with revenue for the same period last year at both actual and constant rates of exchange. Profit Before Tax for the four months ended 30 April 2018, based on unaudited management accounts, was significantly higher than Profit before Tax for the same period last year and comfortably in line with market expectations, reflecting the benefit from higher revenue and continuing cost management. John Ketteley, Executive Chairman said: "Elecosoft has continued to perform well reflecting both the strength and international spread of our core businesses. I am pleased to say that Elecosoft also continues to be strongly cash generative, and as at 30 April 2018 we had net cash of GBP2.4m, compared with net cash of GBP1.0m at 31 December 2017." ]

The last time the sp was at these levels was way back in 2008 but a vastly different scenario in play then; falling like a stone as the construction recession took hold, eventually bottoming out at 7.5p. Some thought the undertakers were knocking on the door but other 'idiots' followed the chairman's lead (he bought 1.0m!) and bought a few as well ..... I'm a lot older but probably no wiser now!! Has the price risen too far now? I've no idea but, with prospects still looking rosy, happy to stay on board and watch events unfold during the next twelve months or so.

Terrific announcement yesterday (imo): sales - �73.5m (+16%); ptp - �4.4m (+16%); eps - 29.1p (+14%); divi - 11.5p (+15%); cash now up to �8.1m (+35%). For good measure, a good start has been made to 2018. I wish all of my investments could make that kind of announcement!

A stonking announcement with future prospects looking excellent as well. It's hard to believe that 10 years ago the company was teetering on a cliff edge as the construction recession took hold. Their share price sank to 7.5p and it looked as though liquidation was inevitable. Congratulations to all those involved in this miraculous recovery which is now complete.

Someone's hoping for a good announcement tomorrow, 30k bought @ 52p (above the prevailing 'Offer' price).