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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Capital Limited | LSE:CAPD | London | Ordinary Share | BMG022411000 | COMM SHS USD0.0001 (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
1.20 | 1.36% | 89.20 | 89.00 | 90.80 | 89.20 | 89.20 | 89.20 | 211,484 | 12:58:40 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Oil And Gas Field Expl Svcs | 290.28M | 20.99M | 0.1084 | 8.12 | 170.45M |
Date | Subject | Author | Discuss |
---|---|---|---|
28/1/2014 19:23 | My musings FWIW:- Not that surprised by the numbers. negatives: Really do not like the utilisation %. Still seeing drop in ARPOR Concerned that NAV is made up of un-utilised rigs Positives 1.Good work on the operating overheads 2. Surprisingly strong cash-flow 3. Miraculous debt reduction given headwinds Outlook...potentiall On the negatives: 1st 2 are market headwinds and will resolve in due-course, 3 is OK for the foreseeable especially given modern rigs. Positives explain themselves really. I definitely am awaiting the results for more depth, but my first reaction is that things look under control all be it as discussed, against a backdrop of market uncertainties. | thorpematt | |
28/1/2014 19:23 | My musings FWIW:- Not that surprised by the numbers. negatives: Really do not like the utilisation %. Still seeing drop in ARPOR Concerned that NAV is made up of un-utilised rigs Positives 1.Good work on the operating overheads 2. Surprisingly strong cash-flow 3. Miraculous debt reduction given headwinds Outlook...potentiall On the negatives: 1st 2 are market headwinds and will resolve in due-course, 3 is OK for the foreseeable especially given modern rigs. Positives explain themselves really. I definitely am awaiting the results for more depth, but my first reaction is that things look under control all be it as discussed, against a backdrop of market uncertainties. | thorpematt | |
28/1/2014 17:30 | drewz: sorry mate get real - Until significant increase in market requirement for the type of drilling offered by CAPD their revenue is not going anywhere. To quote yourself on the NCCL thread "Certainly a 'bottom drawer for 5 years' candidate, this one." I was not trashing - Just expressing a considered opinion - as I see it - If you check back posts you should see that with a limited number of exceptions I have been consistent. There is a major downturn in this market - Just because I was able to see what was happening and acted on my opinion this does not mean I do not think there may be value here but share price still too rich (imo) unless there is a major upturn in the world economy. UBS world forecast for 2014 is only 3%, while a small improvement - This is still below trend. (Source Paul Donovan - Global Economist UBS) | pugugly | |
28/1/2014 14:54 | sebass - 10/10 for analysis. PUGUGLY - 1/10, I/m afraid. Your agenda of 'I've sold the shares so I'll rubbish them with some spurious scary sounding commentary' was all too obvious. CAPD's future is no longer in their hands, indeed - what arrant nonsense! | drewz | |
28/1/2014 10:58 | I think the market has got this wrong there is no bad news that was not flagged up before. Q3 revenue-21.7 Q4 revenue- 21.8 Q3 utilisation-46% Q4 utilisation-46% Arpor Q3-$165000 Q4-$163000 Net debt/equity Q3-12.7% Q4-9.9% Net op cashflow for the year $15.3m gives H2 net op cash at $7.7m which seems pretty decent given how tough conditions have been. I guess the only suprise was profit after tax loss of $1.9m but that must relate to large amount of depreciation amortisation and one off costs-Ebitda $17.08 Ebit -0.2. I just don't see anything new that warrants the fall in the share price maybe people were expecting conditions to have improved more or for the outlook to be more positive. I think management holding so many shares mean they are going to run a tight ship and be very cautious. | sebass | |
28/1/2014 10:13 | This is a cyclical business and obviously the mining cycle isn't in a good place right now. CAPD has the capacity to pick up slack and previous announcements have commented that main capex is behind them (although the bit about capex for Geita is new, hopefully more details in full results) and any upturn should therefore add to a cash-flow which is already pretty good in the circumstances. Not only half NAV, but using 30 June BS, current assets less all liabilities is £29m versus market cap today of £32m, so almost a net/net share in value investment terms. Possibly there already given further debt reduction. An outside bet for Simon Thompsons 2014 bargain portfolio in IC next week? | clementwether | |
28/1/2014 09:47 | Nothing new in there for me and like others I can wait. Debt down q4 better than q3 and with the new contracts to come, centamin still hanging over the share, reduced head count and the costs associated with that and debt still down. Wait for a recovery. | deanowls | |
28/1/2014 08:37 | Not sure what people were expecting ?? Looks like a great update to me. We know business in this sector is bad, we know they are under utilised, we know profits will be losses but the key is will they survive. Cash generation is strong and debt is massively reduced to the point it's almost irrelevant. Looks like a well run business to me and should be around to make hay when drilling CAPEX starts to recover. At half NAV it's a cheap acquisition target for one of the bigger drillers. Investors need to be patient which is a problem in todays markets but I can wait and have added a few on the dip. | kinbasket | |
28/1/2014 08:29 | Very poor, but very honest update:. Basically says they are running hard to keep solvent. They are now totally dependent on a significant recovery in the demand for minerals to increase the requirement for new drilling contacts. Unless and until demand increases they will (imo) be going backwards as the fleet will be getting older. There will be (imo) very significantly increased cost pressures from competitors desperate to maintain utilisation of rigs so they will quote at cost (or even below) to keep going. [Very much like the print industry some years ago] i do not take comfort from the ntav figure as what price 2nd hand rigs in an over supplied market. Sorry for all still holding as CAPD's future is no longer in their own hands. | pugugly | |
28/1/2014 08:21 | Disappointed to see such a large drop, update not great but hardly unexpected and the company valuation reflects this already, or perhaps not judging by the fall today! | sundance 13 | |
28/1/2014 08:13 | Not a great update but they seem to be over worst now. | thepopeofchillitown | |
06/1/2014 13:21 | I agree they seem to be an open company with value in there at current prices. I like the IPO photo too: | chinahere | |
06/1/2014 12:42 | This company seems to be well managed, has a healthy BS and to me appears under valued, one to tuck away for 2014/5. | chizgreen68 | |
14/11/2013 08:29 | Thanks again David for organising this. An informative call. | cjohn | |
12/11/2013 15:24 | Thanks very helpful - sorry to miss the call | garfield31 | |
12/11/2013 14:48 | Thanks all for your efforts | loafingchard | |
12/11/2013 14:34 | Thanks ginger, much appreciated. | deanowls | |
12/11/2013 11:13 | Thanks for the number david | randv | |
12/11/2013 10:33 | A useful conference call I think so thank you for dialling in to all those who joined the call. Jamie has also agreed to meet with us when he is next in the UK which will probably be at the next set of results. | davidosh | |
12/11/2013 08:05 | Hi David, I'll be ringing in from Spain. Many thanks for setting this up. CJohn | cjohn | |
11/11/2013 13:17 | Sorry I won't be able to join in but if anyone could give a summary afterwards I would be most grateful. A few questions from me if anyone can oblige, Paulypilot wrote a while ago about a PR company mentioning being used by CAPD, are they still and are they doing any PR? Do they forecast next year being better than this year? Is there a decent pipeline of opportunities at the moment? Why was Ramadan mentioned as a reason when it fell in the same quarter last year (although I expect the percentage of business at centamin is higher this year so that may be a factor). That said I believe they have done a good job in difficult circumstances. Any feed back is greatly appreciated. | deanowls | |
11/11/2013 12:20 | nice tight spread on the shares today 26.75-27.00 | mister md |
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