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The results for 2022 have been promised for mid April. This was in response to comments about them not being available until mid June in 2022.
Stt1. As you can see from the trading update earlier this month the cash went up from 15.9 at the end of H1 to 20m by September 1st. Is that enough of a surge for you?
The very significant growth that has been undertaken would have taken quite a bit of cash
In any event the cash inflow for any one contract is likely to be spread perhaps over a year so you can expect a steady flow of funds coming into the business.
There is no shortage of significant contracts and a very large pipeline
No need for you to worry!
I stick by my comments on increasing profitability and these are well supported by the commentary and figures produced in the Interim Results. Further these are expected to increase with the extra activity expected in the second half of the year.
EBITDA earnings for the first half were £2,290,000(up10%) and margins up by 12.1%
I accept EBITDA is the most generous of interpretation of profits but it is generally accepted as indicating the operational performance of the business
Taking off the biggest charges (eg depreciation) gave us an operating profit of £668,000
Taking off other non operational charges gave us profits before Income Tax - which is the best indicator of the performance of the business- of £453,000) I tax was 176,000 reducing the figure to £277,000 profit.
Other non- operational charges reduced this further to a final PROFIT figure of £104,000
Further comments in the report suggest sound progress will be made over the rest of the year
Just read the Results RNS and you’ll get a full picture of the success of the business over the first half year, the more recent achievements and the increased order book and the excellent prospects ahead. A significant achievement by all concerned!
Bob, with the exception of C F, who seems to have moved on to more strategic matters and the future of Poolbeg, the current management team seems to be performing very well. Capacity increased, orders increased, new services, further integration of the business, increased profitability etc etc.
Mo and the leadership team within the business are doing an excellent job of ensuring the success of the business.
The truth remains that the business is stronger than ever.
You are right that the share price does not reflect this at the moment.
But these are two separate things. The market reflects the nature of the AIM market, the depressed nature of the sector and in particular the impact of those talking the business down on the confidence of small investors.
I see the boys are back with their spurious comments on the well being of the business.
I was going to counteract these with lots of figures on the high levels of growth that there has been in screening capacity, beds, services offered by the laboratory, new challenge studies, ebita margin, profits, a order book of £70 million etc etc
Just read the half year report and the trading statement that was published earlier this month and all is there to see.
The business is stronger than ever.
Thanks moniman. The full story!
When thinking about how £50m is going to be achieved by year end it’s as well to remember that the capacity of the business has increased substantially since the RNS announcement in March including a 50% increase in the number of beds. All available throughout H2.
Full year figures for 2022 are promised in April 2023 . But no doubt lots of good news before that!
Congratulations to hVivo staff on this new accreditation
It’s an important sign to existing and potential US customers in particular the quality of the service we can offer.
May it lead to more revenue - and even more profits!!
The company’s predictions for revenue for the full year have been public knowledge for a long while. Usually stated as £50million for the full year. See e.g. under the heading ‘Order book and pipeline’ towards the end of Mo’s comments on the final figures for 2021. Published on June 6th “These developments reaffirm the management’s expectation or revenues in the region of £50m in 2022 with the group now delivering strong sustainable long term profitability”
This from the ever cautious Mo Yamin.
Given the order book since that time I would expect this figure to be exceeded. Perhaps we will have some further encouraging news with the half year results.
There will certainly be an increase in fuel costs. But note the significant reduction in overheads when they moved to Plumbers Row. See the presentations on this.
So you have no need to despair!
What with this announcement and the half year results due in just a few weeks this might not be a good time to sell with the hope that the price will drop back enough to make it worthwhile.
As I said to my son at the weekend “You don’t get RNSs on a Monday!” Wrong again!
Here we go again!
Mo was appointed C EO Feb 23rd. Far less than 9 months ago. He has explained his very clear strategy for developing the business
He was nowhere near the company when the share price was at 48 p for a very short time in April 2021
Both he and J S are severely restricted by the Nomads as to when they are able to buy shares
Cathal owns large chunks of both companies is Chairman of both so you can be sure that he will be looking after shareholders interests!
But you know all this!!
With that long list of sales it looks as if we can soon expect the moaners to come back to try to take it down below ten. After a few quiet days it’s here we go again!,
At a presentation it was mentioned that Vaxart were paying for 50% of the development costs of the “master copy”. (my words!). OO were hoping to find another firm to cover the other half - but heard nothing since.
The company and the markets are two very different entities. The company is being very actively managed with significant changes taking place in its activities and its facilities etc. Mo is being very successful in driving the company forward. Leo also mentioned that they wouldn’t bother with acquiring companies that would be difficult to integrate.
The market just needs to catch up with company performance. The publication of half year results in September should help that along.
In the past I think that when this issue came up CF thought that there were more productive ways to spend any excess cash. You may remember that in a recent presentation Leo mentioned the possibility of buying bolt on companies to enhance the business. This might be what CF had in mind.
Poolbeg have certainly created a new meaning for the word “imminent “!
However, now that approval has been achieved I was expecting to see the share price to recover more than it has done and surprised at the number of sales. So I guess (at least!} two things are happening here: traders expecting the price to drop back and those thinking of investing reckoning that there is six months available to buy in.
I wonder if the price is so low because members of this board keep talking it down using fatuous reasons???
No need to reply - I know the answer!