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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Kromek Group Plc | KMK | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -0.10 | -1.59% | 6.20 | 16:29:40 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 6.30 | 6.20 | 6.30 | 6.20 | 6.30 |
| Industry Sector |
|---|
| PHARMACEUTICALS & BIOTECHNOLOGY |
| Top Posts |
|---|
Posted at 06/2/2024 04:08 by riskybisky Proactive interviewKromek Group's positive trajectory Last updated: 09:45 03 Feb 2024 GMT First Published: 09:37 03 Feb 2024 GMT Written by: Ian Lyall Chatting with Proactive's Stephen Gunnion, Kromek Group PLC (AIM:KMK) CEO Arnab Basu shared an optimistic outlook on the company's first-half financial and operational achievements. With a spotlight on increased revenue, improved gross margins and a notably reduced loss, Basu's insights offer a glimpse into the strategic directions propelling Kromek towards sustained growth. Stephen Gunnion (SG): Arnab, Kromek's interim results indicate a strong first half with notable financial improvements. Can you elaborate on these achievements? Arnab Basu (AB): Absolutely, Stephen. We've experienced a period of positive momentum, underpinned by a significant improvement in our EBITDA position and reduced pre-tax losses. This success stems from our unwavering focus on profitability, achieved through diligent cost control and enhancing our business margins. Our growth has been particularly robust in the advanced imaging and CBRN segments, reflecting our alignment with market demands and our strategic initiatives in these areas. SG: Could you dive deeper into the growth drivers within your main business segments? AB: Certainly. Our advanced imaging segment, especially in SPECT and CT modalities, has seen increasing adoption of our CZT material, revolutionizing digital spectrums and enhancing diagnostic capabilities. This trend is underscored by new product launches and significant partnerships, such as our collaboration with a CT Original Equipment Manufacturer (OEM) and Spectrum Dynamics' launch of a new product. On the CBRN front, global security concerns have spiked demand for our handheld radiation detection tools. Our contract wins and robust pipelines in this segment, alongside partnerships for biosecurity projects with the US and UK governments, mark our strategic advancements and readiness to meet evolving market needs. SG: With the momentum built in the first half, how do you anticipate this will impact Kromek's performance moving into the full year 2024? AB: The trajectory we've set in the first half is expected to continue, with the second half traditionally being stronger for us. We're on track to achieve record revenues, a testament to our growth strategy's effectiveness. Our focus remains on cost control and margin improvement, positioning us to report not only significant revenue growth but also a positive EBITDA for the year. This marks a pivotal step towards our long-term profitability and underscores our commitment to delivering value. |
Posted at 05/2/2024 17:38 by b00mb0y Why is no one talking about this company.Looks like it has legs to double from here.My view is; it’s been 10 years of misery for us long term investors. Take a look at the share price trend graph. It’s now showing that little repeated spike. The trend! Look what happens after that. Saying that, there are many talking about this company and how good they and their products are but that’s it. Sp drops the more we hear. I’m just hoping, as usual, that this time it continues to go up. Having said that, I’m a long, long way off my breakeven. Fingers crossed but not holding my breath. |
Posted at 25/1/2024 08:05 by quepassa A flurry of contract announcements.Even an investor presentation. My antennae are whirring like crazy. If there isn't another cash call/equity fundraising in the coming months - I'll eat my hat!! ALL IMO. DYOR. QP |
Posted at 23/1/2024 12:05 by 33mick Kromek Group plc (AIM: KMK), a leading developer of radiation and bio-detection technology solutions for the advanced imaging and CBRN detection segments, gives notice that it will be announcing its interim results for the six months ended 31 October 2023 on Tuesday 30 January 2024.Dr Arnab Basu, Chief Executive Officer, and Paul Farquhar, Chief Financial Officer, will be hosting a presentation for investors at 6pm GMT on Wednesday 31 January 2024 via webinar. |
Posted at 08/1/2024 20:31 by jaknife The recent boom in the number of shares is because of a convertible loan note. The last share conversion under the note was announced here:All is not what it seems and the directors have been deliberately deceptive on two levels. 1. Fixed Conversion Price The original RNS that announced the terms of the convertible is here: The conversion terms are described as: "The Loan Notes have a term of 18 months (with the Company having the option to extend the majority of the loan notes by three months), are senior in ranking and unsecured. The Loan Notes are convertible at investors option into ordinary shares in the capital of the Company ("Ordinary Shares") at 15 pence per Ordinary Share, representing a 30% premium to the mid-price of the Company's share price at close of business on 04 August 2022. The Loan Notes carry a coupon of 8% per annum and have a conversion date of 31 January 2024." And so you would be forgiven if you thought that the loan was convertible at 15p a share - it is not! The RNS then goes onto note: "The Loan Note holders have the right to elect to be repaid in whole or in part in Ordinary Shares at the lower of the closing mid-market price on the repayment date, and 15 pence per share." The reality of the wording is that this boils down to: "The Loan Note holders have the right to elect to be repaid in Ordinary Shares issued at the closing mid-market price on the repayment date." 2. Interest But there is a second more important deliberate deception that the directors are executing, which relates to the terms on which the interest on the loan is converted to shares. Specifically the directors have not disclosed in any formal RNS what the terms of conversion are for the interest element of the bond. It's not easy to work out what those terms are but we can work out that the terms are incredibly onerous. Going back to the recent conversion notice: it tells us that: ”Kromek … has issued and allotted 7,830,628 new ordinary shares in the Company ("Shares") at a conversion price of 5.11 pence per Share in order to settle the exercise of convertible loan notes and repayment of interest to certain convertible loan note holders … The Partial Conversion reduces the amount owing on the convertible notes by £261,000, with £2,579,000 remaining.” But if you do the simple calculation of £261,000 / 7,830,628 then you get to a conversion price of 3.33p!!! The explanation is that the RNS disclosure above only relates to principal and doesn’t include interest. Hence 5,107,632 shares have been issued at a price of 5.11p a share to repay the principal of £261,000 ( 5,107,632 shares x 5.11p = £261,000 ) and then a further 2,722,996 shares have been issued ( 7,830,628 - 5,107,632 ) to pay an undisclosed amount of interest at an undisclosed conversion price. Having different conversion terms for the principal and interest is a new trend with convertible loans, you can find similar convertible loans with both COPL and SOU that have different conversion terms between principal and interest. There’s no benefit to having these unusual terms other than to deceive shareholders into thinking that the deal is better than it actually is. JakNife |
Posted at 08/1/2024 18:17 by quepassa Sorry to correct you but as at 14/9/23, there were 600 million shares in issue.See Company website - Investor Relations-Securities in Issue. Shares in issue have gone up approaching six-fold. My guess is that there may or may not be a strong likelihood of more shares being issued in the coming periods to satisfy upcoming financial obligations. What justifies a current market capitalisation of some £30 million is beyond me. ALL IMO. DYOR. QP |
Posted at 02/1/2024 13:08 by supernumerary Jak - they're right down the bottom of the page...This is just the first lot - not saying anything new... ------------- T Burley 26 DECEMBER, 2023 It's tiny and still loss-making after more than a decade in business and many funding rounds. It's not to a business, it's a customer charity transferring shareholders funds to them every day year after year. If it had scaled to billions or at least a few hundred million over these decades and was ... See more... Recommend (31) Andrew Lapping 26 DECEMBER, 2023 As a long suffering shareholder, try making a profit or get out of the way and let someone else try.The company has had numerous fundraisings, pre and post IPO, at ever decreasing values. Time to make a profit Recommend (15) Jonathon Cole 26 DECEMBER, 2023 The owner is part of the problem. He has persistently avoided investing and expanding to a greater scale required to boost profitability because he , like many science based entrepreneurs, he is afraid of / doesn’t understand dilution. They dont like losing control He should have raised more fund... See more... Recommend (12) S Evans 26 DECEMBER, 2023 Kromek has consistently come back to shareholders for funds at massive discounts, no way would the CEO have been able to obtain funds elsewhere if it was not public. As a shareholder I have been Distinctly unimpressed with the CEO and the board, the CEO continues to reward himself with a bloated sal... See more... Recommend (9) Ian Caswell 26 DECEMBER, 2023 What a terrible example. After 10 years floated only £17m turnover and a massive £7m loss. Pity the poor shareholders. Looks like a very poorly run company that will eventually change management or go bust. The market has reacted exactly the way it should to a rubbish business. Recommend (9) M Hedges 26 DECEMBER, 2023 What retail investors do understand is that when it comes to return on investment, the top line by itself is meaningless. A wafer thin gross margin and an eye watering loss at the operating level are of far more interest. An extremely high cash burn and constant dilution at lower and lower prices a... See more... Recommend (6) T Nicholson 26 DECEMBER, 2023 It sounds like a very clever business but if you’re not turning profit after a decade and having had multiple funding rounds, perhaps it is the business? Recommend (5) P Norton 26 DECEMBER, 2023 Blaming the market is shooting the messenger. Prices are information and the information this share price is telling you is that this is a rubbish company. If it were any good then a private buyer would have bought it or if the management back it, why not do a MBO? Of course the market isn’t always... See more... Recommend (4) Charles Mitchell 26 DECEMBER, 2023 Not only not profitable but they have had numerous fund raising. So no wonder the market values lowly. Interesting company, but would only buy on improved financial performance. Recommend (3) Bobbie Fish 26 DECEMBER, 2023 How do you value a business that is not making a profit which is in a fast moving technology world. You need to know about the competition and demand for its products. That’s a difficult valuation to make. Any valuation is on hope and the Kromek boss possibly a salesman is the last person to value ... See more... Recommended (0) James Robinson 26 DECEMBER, 2023 A poor comment which says everything. Look in the mirror Recommend (2) |
Posted at 02/1/2024 12:22 by jaknife This is the article. Perhaps it's my settings but I can't see any reader comments.==================== Kromek boss ‘might not have listed technology company on Aim’ Arnab Basu joins other technology bosses ‘frustrated Katie Prescott, Technology Business Editor Tuesday December 26 2023, 12.01am GMT, The Times Arnab Basu, the chief executive of Kromek, argues that technology businesses that require time and investment to grow are often ignored by UK investors in favour of short-term successes The boss of Kromek has said that with hindsight he might not have listed the scanning technology business on London’s junior stock market, adding his voice to those of other British technology chief executives who complain that the City lacks understanding of the sector. The share price of the Co Durham-based company, which designs and makes high-specification materials for security and medical imaging, has fallen by more than 90 per cent since it was listed on Aim in 2013, despite Kromek increasing its revenue and market share. Arnab Basu said it was “frustrating that the company’s value isn’t recognised”. The business, which celebrated its 20th anniversary this year, made £17 million of revenue in 2022, a 44 per cent rise from the year before. However, it has yet to make a profit, suffering an adjusted pre-tax loss of £7 million in 2023, down from £7.8 million the year before. About a third of its revenue is from the United States and a fifth from Britain. Kromek is covered by only one firm of City analysts — Cavendish, part of the finnCap Group. In July, after the company’s full-year results, Mark Brewer, finnCap’s director of research, wrote: “As the only independent supplier at scale of CZT [a semiconductor] for imaging systems, we believe there is substantial strategic value in Kromek that is not reflected in the current price.” Another London technology analyst, who does not follow the stock, said: “The low end of the Aim market capitalisation spectrum can be a trap in terms of low valuations. The company capitalises a lot of development costs and has been cashflow-negative for the past two years; improving profitability and turning cash-positive will be keys to getting a higher valuation.” Reflecting on its ten years as a public company, Basu, 50, said: “We have had a difficult time in the market, where the business has grown continuously but the value recognition has declined continuously. When you’re talking to retail investors, it must be very challenging for them to really understand a small, complex business. The relationship we had with private investors was much more interactive.” He argued that technology businesses that required time and investment to grow were often ignored in favour of short-term successes. “Hardware tech is still rare in the UK. And I think if you’re not in certain segments, understanding and the pool of investors within that is reasonably limited, which creates a pressure. Kromek’s story is shared by many compatriots in the tech market.” Basu moved to Newcastle from India for his degree and stayed in the city, spinning out his doctorate from Durham University into a business that supplies medical companies, airports and security services worldwide. Kromek developed a semiconductor technology and manufacturing process that goes into a range of applications, including creating Europe’s first liquid explosive detection system, and has won its first contract with the European Space Agency. Based in Sedgefield, the company employs 150 people with offices and manufacturing facilities in Pennsylvania and California. It supplies the US Department of Homeland Security and works with Darpa, the US defence agency, producing a portfolio of products for the military in radiation detection. Among the products in the pipeline, it is developing an airborne pathogen-testing system. The company works on detection in oncology, Alzheimer’s and cardiac processes and in the analysis of airborne diseases. Another area is radiation detection and Basu said it was looking at early warnings of biological or chemical weapons being used in public areas from cities to stadiums. |
Posted at 26/10/2023 09:08 by aqc888 Very confused… Kromek were saying to investors years ago that they had a working bio detector that was ready for sale. The KAPscan. It could detect all known AND unknown pathogens they said. However here we are with another contract to develop a bio detector? Mick33, perhaps you could explain… |
Posted at 24/2/2023 22:30 by aqc888 The Public relations company that Kromek uses says on their website they specifically do online investor events to engage with retail investors?? Surely this PR firm acts on the wishes/instructions of their client?“Whether a company’s shareholder base is predominantly institutional investors, smaller fund managers, high net worth individuals or retail shareholders, engaging across the investor spectrum will strengthen the register. We work alongside brokers to support their outreach to institutions and fund managers while undertaking direct engagement with the retail shareholder base. This might include holding capital markets days, online investor events, creating investor newsletters or conducting targeted retail investor campaigns.” hxxps://gracechurchp |
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