|Amiad Water Systems
||EPS - Basic
||Market Cap (m)
Amiad Water Share Discussion Threads
Showing 276 to 300 of 300 messages
|Gorgeous looking chart - shame the 12% spread is such a rip off you cant touch it|
|Been thinking in rather a lack luster way of going back in; share price will be affected by £ strength and of course Viola ditching 3.5% in such a thinly traded stock will not have helped.
That having been said the Oct 18 trading statement did not inspire optimism with the forecast that H2 13 revenue will be the lowest 6 month figure since 2010|
|Evening Standard today ran a story on Matthew Sheldon the K Benson fund manager's purchase oif shares as per 11 Dec RNS; also interesting ti see Impax had increased their stake. Perhaps the share price have reached their bottom. Sheldon was quoted as saying it was a unique opportunity to get a stake.|
|According to ShareScope house broker Nomura has materially cut FY turnover expectations to 79m from 95m. It would appear that the house broker reduced expectations on 10th September. share price surprisingly unaffected, DYOR|
|staverly:> Many thanks for your 241. Had just coome to have a look as now hit a 6 month low but in an area of potential future growth but your comments re managmentand lack of a competent person to answer question plus breakdown of shareholders have persuaded me to look elsewhere.
IMO given the concentration of shareholders maybe this coy should not be listed.
|Just got round to looking at their FY. I await the AR in suspense as cannot make sense of the cash flow statement. Appreciate some help as to how cash flow from operations appears as 15.4m|
|The company is right when it says in this morning's release that it has the right solutions and is in the right markets.
That having been said the results were good but not sure if good enough to justify the current sp; having had these quite often in the past I have none now and not buying at these prices.
As I have said before such is the shortage of pure water stocks in the worldwide equity markets do not see a big downside here but the spread is quite high and also remember they have a stable shareholder base.
As they indicated the second half weaker; of the after tax profit, $4.2m earned in the first half and $3.7m in the second with sales in the second half at $64.6m down from $66.4m in the first half. The second half did have a very strong operating cash flow and the financial structure is appropriate.
Will keep watching and I note their comments that the first half will be sluggish|
|cnx: yeah, that hadn't escaped my notice. You know my views. Last year they reported on 29th March so still maybe time to sit this one out. Good luck|
|last year there was a trading statement on 23 january|
|staverly did not make it to the AGM; have been to 2 or 3 in the past and management have been friendly enough and willing to have a chat but the reality is that given their shareholder structure people like you and me are of no real importance to them.
Indeed sold out as did not anticipate the significant increase-nor indeed the weakness of the last couple of days-the first half results were not that bad.
The other reality is that there are very few water stocks around-especially those that pay a dividend however symbolic-and plenty of funds etcet very keen to get exposure to this sector.
The reality is that shares will not go down to £2 for the reason above and also because I think they are competent operators..will keep on my radar but cannot see myself buying at £3+.|
|Cerrito: Hope for your sake you didn't make the journey to the AGM.
It was a sham. Just 2 members of board present: CEO, who wasn't comfortable speaking English and officious NED. Proceedings very formal so no chat over coffee before or after permitted. They couldn't finish it up quick enough and no financial questions pertaining to annual report were addressed as no competent person present. I bought some shares last November and reluctantly sold them as soon as prelims were released in March, as IMHO,they did not pass muster. Having seen H1 it would appear that share price grossly overpriced , so should travel south on long steady journey and deservedly so;
TP: < £2|
|Revenue increased 13% during the period as a result of solid revenue growth in the traditional Irrigation and Industrial segments, and significant revenue growth in the new segments of Ballast Water and Oil & Gas. The company noted that there was a decline in the Municipal segment revenues due to the constraints on public funding and projects, particularly in the US and Europe, as a result of the politico-economic environments of those geographies. Due to signed contracts and backlog to date, the company expects the revenues in the Municipal segment to recover in the second half of 2012 and that the percentage contribution to 2012 revenues will be similar to that for 2011.|
|Gone through the annual report and footnotes to see if anything noteworthy.
Short answer not too much; could not find normally available information on where in terms of product lines they get their profits from.
Note 11 shows they have a good maturity profile of their bank borrowings.
Page 76 shows they have a good geographic diversification of their sales.
One thing I have mentioned to them at AGM's over the years is that difficult to get a handle on if they are a servicing company, a manufacturing company or an engineering company. Before they did not provide a good breakdown of inventories; now they do in Note 7 where the highish amount of work in progress and raw materials suggest they do a fair amount of manufacturing.
Page 16 reminds us that 58% of the shares are held by various Israei agricultural coops, 19% by Israel based Viola Private Equity and a combined 9%odd held by Impax and Framlington; ie a concentrated shareholder base and apart from Impax's selling of in Feb no real change in the shareholder base.
Will try and get to the AGM|
|Frankly the second half was not good, surprising as they say that they had taken care of the margin pressures they had in the first half.
Cash flow not good; net cash flow from operating activities was $1.2m(compared to $3m in first half) and with investing activities high and dividend payments of $2.4m, cash was down $3.1m even though borrowings went up by $4.5m.
Revenue was down marginally in the second half compared to the first half and profit after tax in the second half was half of H1's.-$4.1m and $2.2m respectively.|
|i have today reread the RNS reports for last 6 months and am convinced AFS is sound and on the right track. so have added to my holding by 33% in anticipation of record results and increased dividends ahead of april announcement.|
|Note this morning's increase and one can understand the reason given that they have scored goals in 2 different areas and certainly the desalination market could be very important for them going forward.
Too bad I lightened up a bit in the last fortnight.|
|Thank you for your answer Cerrito.
I found that share last week, was wondering if it might go back to 200 but it looks like it is going to go only higher, next stop 300?
I may buy some tomorrow.|
Yes they do have debt
They must be a banker's dream with at June 20 2011 $15m of cash and $19m of short term borrowings and in addition they had $10m of Long Term debt .
Their annual report gives no insight into the maturity structure of their debt.
On the basis that in H1 11, net finance expense was $0.6m compared to $5.5m of operating profit and for 2010 12 months the comparative figures were $0.8m and $4.3m I am pretty comfortable with their debt situation.
Note that they basically borrowed to make the Arkal acquisition and I am not sure they can make another acquisition by borrowing and indeed one should not anticipate any significant increase in dividends they pay.
Have to say I was not expecting the increase we have had over the last fortnight so the small weakness of the last couple of days not unexpected.|
|does it have any net deb?
to me looks like it has 15m of cash, am i right?
I see that revenue in H2 declined marginally to US$57m from H1'S $59m and if we say that eps in H2 will be broadly the same as H1 that will give us full year eps of 23podd ie trading at a pe of just over 10 which given growth potential and pretty good financial flexibility is reasonable.|
|Sunday 8 January 2012
|agree with you cnx...as can be expected build up of working capital so that there was a drop in net cash generated from operating activities.
Feel comfortable with these people having been to 3 AGM's though this year I repeated to them and the broker that they need to make the underlying dynamics of their business clearer ie we have no idea which business lines/geographies produce the profits.
Potential for more share price increase though that does depend on work that N Code does.|
|good results and very positive outlook|
Comment on Amiad from Ben Jaglom in his monthly column|
|nice rise today
is this soley due to the acquistion or others as well?|