Share Name Share Symbol Market Type Share ISIN Share Description
Bioquell LSE:BQE London Ordinary Share GB0004992003 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.00p -0.79% 126.00p 125.00p 127.00p 127.00p 126.00p 127.00p 42,276 15:47:30
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Health Care Equipment & Services 45.3 -1.4 -2.4 - 53.84

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Date Time Title Posts
19/9/201613:24BQE helps fight MRSA927
29/10/200716:35Bioquell technology to kill SARS virus plus others.116
08/12/200316:43BQE - may benefit from Gov plan to fight hospital superbugs1

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Bioquell Daily Update: Bioquell is listed in the Health Care Equipment & Services sector of the London Stock Exchange with ticker BQE. The last closing price for Bioquell was 127p.
Bioquell has a 4 week average price of 130.15p and a 12 week average price of 138.85p.
The 1 year high share price is 176.50p while the 1 year low share price is currently 120p.
There are currently 42,728,469 shares in issue and the average daily traded volume is 40,022 shares. The market capitalisation of Bioquell is £53,837,870.94.
bangalorebob: Bioquell's EBITDA increased 14% to £1.6 million in the six months to the end of June and the group has now terminated its strategic review. Overall revenues declined by 3% to £12.1 million (2015: £12.5 million) but bio-decontamination revenues (excluding defence sales) rose by 8% to £11.1 million (2015: £10.3 million) and non-UK revenues amounted to £9.0 million (2015: £10.0 million) - representing 74% of total revenues. Gross margin increased to 46% (2015: 42%). Earnings per share were 0.8p (2015: 82.5p, 0.2p excluding the profit on disposal of TRaC). Following the completion of the June tender offer, £40.8 million of cash was returned to shareholders via a share buyback, leaving net cash of £7.3 million at 30 June, 2016 (2015: £47.7 million). Chairman Ian Johnson said: "Whilst overall revenues declined slightly as a result of lower defence sales compared with the first half of 2015, I am pleased to report that our bio-decontamination business grew by 8%. "Profitability improved as a result of our cost reduction programme - and management continues to seek further improvements in the financial performance of the business through greater focus on the international Life Sciences market and driving up the proportion of recurring revenues. "The board has now concluded the strategic review announced in 2015 and believes that Bioquell shareholders' interests would best be served by continuing to build a world class bio-decontamination business and focusing on further improving its financial performance. "Accordingly the management of the business will be restructured. I have become Executive Chairman and the current Chief Executive, Nick Adams, has stepped down. In addition, Jay LeCoque has joined the board of Bioquell in the new role of Commercial Director. "On behalf of all Bioquell shareholders I would like to thank Nigel Keen for his seven years as chairman. "I would also like to thank Nick Adams for his substantial contribution as chief executive. Under his leadership Bioquell has changed beyond all recognition from a low technology manufacturer of safety cabinets to a leader in specialist bio-decontamination. "The board is confident that the improved financial performance seen in the first half of the year will carry through to the full year." At 8:17am: (LON:BQE) Bioquell PLC share price was -8p at 145.5p
bountyhunter: and now 3.99%
bountyhunter: and now 3.73% Http://
bountyhunter: Martin MAcleish is still accumulating, it's 3.47% now...
bountyhunter: lots of buys accumulating to 3.28% Http://
pavey ark: Much number crunching this morning as I tried to figure out if the current price is fair or a bit of an anomaly. Obviously the £2 return is good and adds to the cash pile I prefer at this time of year (sell in May and all that)but if you bought at c. 170p you would be paying 140p for the retained half of your purchase and this would value the company at just shy of £30m. Ignoring property and equipment but including current cash and inventory I get close to £10m for current assets. ( I don't usually include inventory in these calculation but we are up for sale and the value is such a small percentage of total t/o that it is unlikely to be "dead stock".I am assuming an slight increase in cash from profits in H1 ) If one simply looks at previous year(s) then the figures don't look great but the biggest single factor in valuing this company is the t/o , gross profit and admin costs. Although the profit last year was under £1m the sales and admin costs alone came to £9m with £1.5m in R and D. NB gross profit of over £11m. If we look on the sunny side and assume that things are improving, albeit not at a great pace, this trading improvement is likely to be overshadowed by cost reductions. If no bid is forthcoming then the savings made by the company and subsequent profit level will determine the share price but while BQE is still up for sale we must consider the cost savings that an acquiring company could achieve and therefore be prepared to pay. As I have said before, there's obviously not a long line of companies clamouring for BQE but perhaps they are in a narrow field. My figures suggest to me that even without a bid there is value here after the buy back. The bid prospects look to be in for free but my average price is c. 150p so happy with £2 for half and happy to hold remainder. Final thought, the company has said that any bid would likely be less than £2. If someone paid £2 they would be paying £42.7m so less might bring us in at less than £40m. If my current asset value is anything like accurate then the acquiring company is hardly straining to justify the purchase price given the cost saving that are up for grabs but this being said there has been no offer,so back to square one ?
pavey ark: EC had your previous post contained anything like the detail of your subsequent post ( which still lacked detail) I doubt if I would have taken serious issue with it. Language like "ragbag" does justify my "glib dismissal" of a very glib post. Even now you have given no hard figures but that doesn't matter as you have now sold. A bit strange to sell at today's price when you could get 200p for half your holding and still be holding shares at a value less than your rather conservative valuation. ( I say conservative purely based on the one figure given in your first post ie a PE of 8). Obviously investment decisions are up to the individual and we all make good ones and bad ones but any decision to sell here in the current situation must be a close run thing so perhaps it is a comfort to post the perceived negatives to reassure ones self after the decision is taken. You do realise that you are valuing the company,post buy back,at £37.8m. As there is a very real chance the cash is over £7m after H1 and taking into account all current assets and liabilities then We could easily have a figure of £30m for the EV. inventory, property and equipment are almost £8.5m so a buyer is paying c. £22m for the business. This business is generating a gross profit of £11.5m !!! I agree that business is not booming but there is a lot going on and the figures I've given make the current share price a very strong buy in my book especially when you can sell half for 200p. However, each to his own. I have been wrong before but these figures and the current buy back situation make good reading. On a more general note I don't think there is a long line of potential bidders or they would have stepped up by now but given the current financial status of the company it could be that management are playing hardball and pushing for a top price.
effortless cool: Having run the numbers, this seems quite fairly priced at current levels. The BIO business is a ragbag of rather odd interests, which has delivered flat revenue over the last three years. Prospects seem unexciting, and I find it hard to see why it would justify a PE ratio above x8. Post the tender, the business still has excess cash. Adjusting for this, normalised tax, and options, gives me a current valuation of 177.2p, marginally in excess of the current share price.
18bt: ST has just updated his thoughts to IC subscribers. Broad conclusions are that after adjusting for the proposed £42.7m cash return, the company will have equity shareholders funds of £22.7m, or 106p a share, including net funds of £4.8m. Based on 21.35m shares in issue post the tender offer, and a share price of 68p, the company will have a market value of £14.5m, or 36 per cent below book value. Then, strip out retained net funds of £4.8m, and in effect a business that has just reported annual cash profits of £3.4m is being attributed an enterprise value of only £9.7m post the tender offer. He feels shares should be worth closer to NAV of 206 (pre-tender).
pavey ark: I've just had a look as far back as 2009 and the results are always in the 18th/22nd March slot so it looks like something different is happening this year. If the review had come to nothing I would expect an announcement with the results and the results to be in the usual date slot. I am willing to bet that some development has taken place but the big question is whither it is an outright sale or a merger. A merger with a larger company should result in cash return to existing BQE shareholders but not the takeout bonus that most expect. A sale would,in my opinion,result in a premium (substantial ?)to the current share price as I always felt that ST in the Investors Chronicle was undervaluing the remaining business but only time will tell and I suspect that time is close.
Bioquell share price data is direct from the London Stock Exchange
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