The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
I totally agree. Unfortunately my views have changed on this company. I always looked at it as a possible recovery stock but now I've lost total faith of any recovery. The market they operate in is fiercely competitive. I really hate when Directors buy shares on bad news to try and stop the sp from dropping. I can now see this share moving towards the high 20's. Very sad!!
Correct me if wrong he owns 1/3 of volex and has now decided to get more involved. Massively successful, not through luck but his business interests. A guy that is creative and he is the chairman of JNR Limited, an investment advisory business primarily focused on emerging markets and the metals, mining and resources sector. He was co-chairman of Bumi plc, a natural resources group, that he helped create and that is listed on London Stock Exchange. Good to see him more involved now in volex
UK market still showing little improvement and will come under increased pressure in 2016. The signs of recovery are merely down to a buoyant market. Imo they need to focus more on the international business that can provide lucrative return on capital employed and short term improvement for shareholders
This is crazy! The market that they operate in is booming, just look at the manufacturers returns. So why as market leader are they only showing modest growth? Mr Chairman put your prices up and get better returns and please stop talking about value in the mid term.
Copied from the Vertikal website: Genie has agreed a licensing deal with Lavendon for its SkySiren electronic secondary guarding solution for boom lifts. The Genie version of the system will be launched today at the Rental Show in Orlando Florida. The system comprises a bar switch installed along the front of the control box at waist height, which cuts the lift functions when tripped should the operator press against it and warns those below with a siren and flashing beacon. A reset button can be pressed if the system is inadvertently activated.
Totally agree with your sentiment. I believe investors are still a little cautious on the back of three profit warnings in 2012,. That said I do believe they have now turned the corner and will continue to be profitable and as soon as the market wakes up to the fact that they have a refocused management team concentrating on the core business, we'll see this share price rise. Patience, it's just a matter of time IMO
Worth highlighting again below Key Figures (data from Morningstar) Revenue: $1B Cash: $263M FCF: $231M (2012) Short-Term Debt/Long-Term Debt: $159M/$0M Pension: $38M Shares outstanding: 260M Price/Cap: £1.38/£359.3M EV: £320M The company is trading for very low valuations because of cost overruns in one of its fixed price projects in 2012. The company suffered penalties from delays in the delivery of wind turbine installation vessels to one of its Norwegian clients. The costs associated with this screw up was in the range of £100M [ft]. The company was further fined $3.7M by the Financial Services Authority for failing to keep the market fully informed about its deteriorating financial position. The market, on the other hand, bid down the price of the stock from £3.5 to £0.85, a penalty of £689M. The current market price of £1.38 still assumes a loss of £551M in the value of the company. In contrast, the problem has already been fixed, fines have been paid and the company has not suffered any permanent damage to its reputation. The company is a steal at 5.22 times normalized earnings.
I take a lot of comfort in the below statement from Lamprell 'The performance in the year to date has been in line with management expectations and, after the events of the previous year, we have made an encouraging start to 2013.' Once the banking covenant is secured the SP will rise and IMO exceed the 2.00.