Ashcourt Share Discussion Threads

[balcony] 24/4/2002 08:27

good morning everyone anyone know how amco are getting on in this big wild world

[wirralowl] 12/3/2002 20:24

balcony,

Thanks for your efforts. Would be nice to see a bit of publicity, they've hardly been shouting from the rooftops. Hopefully, it'll help 'advertise' the share, and stimulate the rating it deserves.

I've been watching 600 Group, as an exiled Yorkshireman, was holding on for 45p ish to buy (every penny counts!), but was out Friday when it left the launch pad. I'm in Montpellier though, who've recently upped their stake in SIXH. Will check Albion out.

Cheers,
WirralOwl

[balcony] 12/3/2002 00:49

CB7 & WirralOwl, Thanks for the info, spoke to Brew Dolph this morning after seeing 200,000 shares traded, almost certain a 100,000 transfer of ownership. The broker would not send me areseach note, i think a buy note will be out shortly. Watch 600 Group and Albion, two more Yorkshire based companines. Amco now 400,000 shares traded.

[cb7] 08/3/2002 11:43

balcony, cud b Brew Dolph, though amco will know......looking ahead, if we pencil in basic eps around 20p, then even a p/e of 5 will give a price of 100p, which is 30% upside from here.

[wirralowl] 08/3/2002 10:01

CB7 - Thanks for your reasoned thoughts, all of which make good sense. As you say, some coverage/tip would see this fly.

balcony - sorry, but I've no idea. The information available /coverage on Amco is awful. The current brokers clearly aren't doing their job properly, as this company should be on a far higher rating after the latest set of results.

[balcony] 08/3/2002 09:39

please could someone tell me the broker for this share and the phone number they need to be shouting from the roof [great company]

[cb7] 07/3/2002 10:33

wirralowl, surprised they didnt pay a divi with 3.3m cash, (mkt cap about 10m), as thats a similar amount when they paid the 5p special......perhaps they held back because of the pension deficit. What amazes me is the wide no of sections to this co......some niche players too, perhaps if the mkt doesnt give the co a good rating some will be sold or even the whole co be subjected to a mbo,(another reason for holding onto the cash). ARP seems to be valued on its lowest constituent, ie construction with p/e of 4-5, but some parts are more akin to support services. The share moves in fits and starts, though relatively secure, I'm holding, as all divisions trading profitably and they expect further improvements in op results. Small trades often have an effect and a tip somewhere would cause a major rise and present an opportunity to sell part/whole.

[wirralowl] 07/3/2002 08:43

CB7 - what do you reckon to the results ?

* Profits : £2.7m, EPS 16.4
* NAV : up to £1.34
* Net debt reduced substantially
* Current PE (even after latest rise) of 4.7

Only cloud on horizon is the pension situation.
Overall, pretty sparkling, I thought.

[wirralowl] 07/3/2002 08:21

Results :


RNS Number:5205S
AMCO Corporation PLC
6 March 2002



PRELIMINARY ANNOUNCEMENT OF RESULTS FOR THE YEAR ENDED
31 DECEMBER 2001

AMCO CORPORATION PLC ("AMCO" OR "THE GROUP")

CHAIRMAN'S STATEMENT


Introduction

In 2001 the Amco Group continued to focus upon three main activities in
structural engineering, property development and contracting in the rail,
construction and mining industries. Through rationalisation and diversification
with further partnering arrangements and the development of new products, our
tunnelling and allied equipment manufacturing operations, which previously had
been seen as marginal activities, have been substantially improved and now form
an important part of the Group's future.

Our overseas activities have been substantially reduced with the pending closure
of the Konkola copper mine in Zambia. Remaining activities will be in onshore
diamond drilling for minerals - we have recently commenced a two year drilling
contract at the Siguiri Mine in Guinea for Ashanti Goldfields - and in mining
contracting, where we remain preferred bidder for the fifteen year contract for
the operation of the Sulcis Coal Mine in Sardinia. We expect the future of that
mine to be decided sometime in 2002.



Financial Summary

Turnover on continuing activities increased by 14% from £81 million in 2000 to
£92 million in 2001.

Operating profits increased substantially to £2.7 million in 2001. Profits
before tax were £2.4 million in 2001 compared with a loss before tax of £0.6
million in 2000. No exceptional provisions for industrial disease were required
in 2001 compared with £1.17 million in 2000.

Earnings per share were 16.4 pence as compared with negative earnings per share
of 0.9 pence in 2000.

Net debt at 31 December 2001 represented 12.3% of net assets (capital and
reserves). This compares with 33.5% at 31 December 2000.

Net assets at 31 December 2001 were £1.34 per share compared with a mid-market
share price of 70.5 pence as at the close of business on 5 March 2002.

[wirralowl] 04/3/2002 22:15

Bought in today. I'm only a small investor, so was suprised to see my original trade turned down, as it was above the NMS (never normally check, but its 500). Also suprised to see the share up 6% later on in the day, based purely on the 500 shares bought in the morning (only 1000 bought all day). How will it move when some big trades go through? I guess very few investors know of the company, as there is very little research out there at the moment, (that I could find), but what there is looks extremely encouraging to me. A re-rating similar to that of their former subsidary, Tolent, could be on the cards come the results, bearing in mind they expect their first meaningful revenues from Zambia and their properties.

[wirralowl] 19/2/2002 20:35

Thanks CB7 for your quick response. Your right about the balance sheet - compared to others in similar area it has low gearing and a high nav to mkt cap. Chart looks good too, and if they do beat those estimates, it'll be on a PE of 5 ish... interesting!

[cb7] 19/2/2002 18:42

possibly the best balance sheet around, plenty of cash and no intangs! The 5p divi was a special--almost matching the 650k debt that was recouped--so the final may not be as good....at ints they expected a better 2nd half so they should easily beat brokers estimates, which merely doubled the 1st half figs...
so ARP looks set for awhile--dont know of any problems

[wirralowl] 19/2/2002 17:09

A quiet share - rarely traded, and a company that's difficult to find info about. However what i have found appears good ; NAV approx double current Mkt cap, making a small profit, fortunes improving and set to continue that way according to last trading statement, reduced gearing, and a nice divi to boot. Anyone here know if there any skeletons in the closet, or have any background information they could share please ?

Regards,
WirralOwl

[balcony] 05/1/2002 11:01

Just got a 10% dividend on this share and thats just the interim. Reminds me of the old R.J.B. Mining, where you got a large dividend and a company full of assets. Also the chairman's statement was very upbeat. I also like ROK. Puka i bought when name was E.B.C. But get some cash in AMCO.

[cb7] 07/12/2001 16:41

somebody got 2k and it moved the price today, when I bought the same happened, so what if a reasonable number were bought? on fundamentals and prospects this one looks pretty good and I'm happy to wait for others to realise

[puku] 07/12/2001 15:08

tried to buy some this week, but only one market maker, only 500 on offer, and with 10 % spread gave up the idea. glad i did because i did buy rok instaed and got a flying start up from 120 to 134p. getting in and out of tiddlers is not easy !

[cb7] 30/8/2001 08:34

look into Amco for an undervalued stock....interims out today....it looks ripe for a re-rateing....and with diverse operations could be broken up to improve shareholder value. (nav = 129p, price 48--53)