Eleco Public Share Discussion Threads

[ansc] 20/11/2016 10:06

Jiggery-pokery, rathkum, we both know there are no better proponents at the art than Mingy Machs. I imagine you'd need at least a Masters Degree in the subject before you'd be considered for employment by them!

As you say, next week should be a tad more revealing.

[smithie6] 19/11/2016 23:16

..shall I help you chaps out ?

imho someone is doing on going accumulation ..while someone else has been off loading (otherwise the share price would have jumped!!) ..with small buys from PIs (cant understand why the buyer doesnt just phone the seller and do an offload, if I'm right)

Apart from first 2 the volume is negligible. Negligible, relative to total number of shares.
Which is quite normal considering that it is a micro cap with few public shareholders.

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Chart wiggles

Dont worry about wiggles...which can be falsely moved...

Look at the trend...much harder to falsely move....clear up trend...

And perhaps breaking previous or 2 year high of around 30p ish...

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imho strong buy ...even after recent rise

Imho 'the only way is up, baby'

Although some punters wont be interested since unlikely to double within 2 weeks.

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.".clear the head" ...whisky and ginger...chardonnay is for girls ;-)

[rathkum] 19/11/2016 11:13

ansc - If the Chardonnay has cleared your head, mine hasn't.

Nice bit of jiggery-pokery by the MM. Observing the sequence of trades reported, I am still trying to get my head round the last 100,000 trade @28.15p when the previous one reported was @28.75p. Let's see what next week brings.

[ansc] 18/11/2016 19:32

Hey-ho, interpret today's trading-marks if you can, I'd much appreciate any enlightenment. Five 100k supposedly sales marked ..... which clearly they all weren't what with the share price rising instead of falling ..... and a 10k buy marked (@ 29.5p) after the market closed when, just before closing, the spread was 29.0/30.25p.

I've surrendered and poured myself a glass of Chardonnay to clear my head!

[ansc] 17/11/2016 17:40

Strange that, share price ticked up at c.12.40 pm but the 25k 'buy' only reported just after the market had closed. Does that look familiar?

edit: Oh, silly me, I'd forgotten the Mingy Machs have that magic crystal ball don't they!

[ansc] 11/11/2016 14:43

A few 'buys' marked this morning so should we expect to see another L(ate) 100k 'sale' marked just before the market closes?

edit - 18.12: Not this time but I notice the 27.5k trade (clearly a 'buy') was marked L(ate) so it didn't get entered in the ADVFN buys column. Lol

[ansc] 07/11/2016 19:25

A hat-trick for Asta Powerproject:

[ansc] 04/11/2016 10:20

Promoting underway at ICON already:

A pleasant surprise when I checked my online banking account this morning, finding an unexpected bank credit had been added ..... I'd forgotten ELCO's dividend payment was scheduled for today. Small but sweet nevertheless.

[rathkum] 02/11/2016 11:47

Pepper Construction (USA) Selects Asta Powerproject for Project Scheduling.

USA - 11/01/2016 (PRESS RELEASE JET) — Pepper Construction Group, one of the largest contractors in the Midwest, has selected Asta Powerproject for its project scheduling system.

The company, with nearly 1,000 employees and well-known clients in the commercial and private sectors, has long used technology to drive efficiency and, ultimately, a better finished product.

“Construction technology has evolved rapidly in the last 20 years," said Howie Piersma, vice president of IT at Pepper Construction. "That enabled innovation not only in how we deliver services but also in how we plan. We were looking for a software that would be as nimble as our team.”

Pepper's selection committee was looking for a fully capable, scalable, easy-to-integrate and simple-to-use system with an established track record and user community. After an exhaustive review of nearly a dozen options and an extensive trial of each, Asta Powerproject became the clear choice.

"At Pepper, we believe that investing more time in planning up front actually compresses our overall timeline," said Eric Bullion, Pepper project director. "Asta Powerproject will help us do that even more efficiently. The system is intuitive and customizable – providing our teams the ability to quickly produce a quality schedule in a way that supports the needs of each individual client."

The construction project software is the first choice of many leading contractors throughout the rest of the world and has been enjoying rapid adoption in North America since its introduction here in 2013. More than 100,000 schedulers worldwide rely on Asta Powerproject every day to create and update precise project schedules, collaborate across the enterprise, manage resources and costs, and report progress to owners and clients.

Catalyst, the Chicago-area reseller for Asta Powerproject completed the sale and will provide training.

"When people first look at Asta Powerproject, they typically like it," said Jim Dawkins, US channel manager of Elecosoft, the developers of Asta Powerproject. "But when they actually try it, they like it even more. For many firms, Asta Powerproject is simply the right tool for their project scheduling."

For more information on Asta Powerproject, visit

About Pepper Construction
Pepper Construction Group is a general contracting and construction management firm headquartered in Chicago. Now in their third generation of family leadership, they serve clients across the country with comprehensive teams in Illinois, Indiana and Ohio in markets such as healthcare, education, manufacturing and light industrial, data centers, entertainment, hospitality, interiors and education, among others. For more information, please visit www.pepperconstruction.com.

[ansc] 30/10/2016 10:54

Even at 40p, that's a potential return of 38% (using current 29.0p bid price) in 12 months. I wish I could say I'm looking for that possibility with ANY of my other investments. But then, at least my 0.25% cash ISA return is guaranteed!

[rathkum] 29/10/2016 21:03

Investors could easily ascribe an EV/EBITDA multiple of 12.5 times to any globally focussed software company earnings.

Last year's EBITDA was £1.8m, so based on the above multiple EV would equate to market cap of about £22.5m.

EBITDA at the interim stage came in at £.96m. Let's call it £2.0m for the current year which would equate to a market cap of £25m.

Should EBITDA for 2017 come in at £2.5m, then applying the same multiple, we should be looking at a market cap of £31m against the current £21m.

All being well I would be looking for the share to be sitting around the 40p mark this time next year.Just my thoughts.

[ansc] 28/10/2016 15:21

Agreed, rathkum, I find it almost unbelievable that so few investors appear to have 'cottoned on'. Surely the company wouldn't be wasting their time in issuing vesting conditions to directors which they didn't expect to be achievable.

Say they achieve earnings of 2.8p for 2018. I don't know what their sector average PE is but using a conservative 15 (it must be higher than this) would indicate a share price of 42p. With a four-times-covered divi of 0.7p, what's not to like?

[rathkum] 28/10/2016 14:19

Well ansc- my eyes just lit up when I looked at those figures. That's a doubling from current year's estimates unless we are in for a surprise. And I guess even those figures for 2018 are likely to be on the conservative side.

If you believe in this company, you have to throw a kitchen sink at it.

[ansc] 28/10/2016 13:43

It doesn't look as tho' many investors have taken much notice of the details (re vesting) contained in this morning's RNS. Thankfully I did and been able to tuck a few more away in my ELCO pot. Going on these conditions, has the person whose been dropping the 100k lots recently (@ 27.0p last time ) made a bit of a booboo?

What's really baffling is why the company's broker seems to have been so far off the mark with their recent updated estimates.

[ansc] 26/10/2016 18:44

Two more 100k sales recorded L(ate) today. So annoying!

[ansc] 25/10/2016 12:05

Oops! Thanks PICNIC, my mistake, I hadn't realised Rights & Issues had another name. Should have interpreted the RNS correctly.

[picnic] 25/10/2016 11:35

I think you will find it is just another name for Rights and issues investment trust.
THe increase in shares in issue took their percentage down below six percent.

[ansc] 25/10/2016 10:26

Edited. Original post removed, incorrect reading of yesterday's RNS [see following post].

[rathkum] 22/10/2016 21:52

One only has to look at the resource companies who release RNS's that are patently untrue. What has AIM Regulation done about them? Some scum bag directors get censored by AIM - years too late. No jail, no fines, just a slap.

Sadly I do not expect AIM will change its ways

[ansc] 18/10/2016 16:21

Extracts from finnCap's update yesterday:

[>We lift our CY group revenue forecast from £17.2m to £17.3m and introduce a
FY 2017 forecast of £18.8m; with £17.9m organic and £0.9m from the
acquisition. ICON’s profit impact in the remainder of this year will be minimal,
so we retain an expected adj. PBT of £1.4m (H1 reported £0.7m), but we now
expect FY 2017 adj. PBT of £1.75m post acquisition, with £0.2m from ICON.
>There is significant upside potential since Elecosoft’s German and Swedish
revenue and profit will see translation gains following the fall in GBP.
>With a full year of the acquisition, the stock is on a forward P/E of 16.5x, a
marked discount to the software sector reflecting the sector’s lack of knowledge
of the stock which transitioned from being a construction materials business.
>The stock offers exposure to a high-quality software supplier with high recurring
revenue, excellent quality of earnings, demonstrating strong growth in revenue
and margins on the back of growing recognition and use of data management
in building design, construction and operation, and generating cash with a
dividend yield.]

Having pondered at length last night over the potential benefits to ELCO of the ICON acquisition , I just could not stop myself tucking a few more away today (breaking my determination not to add any more to my already overflowing ELCO pot).

I agree wholeheartedly with you, rathkum, it beggars belief as to why any investor would want to jump ship at this juncture. My only fear is that, with interest rates so abysmally low, I might be tempted to transfer the cash in our fixed-rate ISAs (on maturity next year) and go and buy a few more!

[aishah] 18/10/2016 13:14

ELCO paid just over 2.6x ICON revs to 31-Oct-2016:

ICON is based in Market Harborough, Leicestershire, and employs 16 staff. The business reported revenues of GBP0.7 million for the year to 31 October 2015 and is on track to report revenues of GBP0.9 million for the year to 31 October 2016. In the year ended 31 October 2015, it generated a normalised pre-tax profit of GBP0.2m and had net assets of GBP0.3m.

Very good acquisition imo.

[rathkum] 18/10/2016 13:02

See the sellers were out in force yesterday and a handful today. Beggars belief why you would sell out after yesterday's RNS and the penetration taking place in the USA market. So I guess now that all the desperadoes are out we can only go one way.




Asta Powerproject 4D Capability Showcased at BIM Forum This Week

ATLANTA, GA - 10/17/2016 (PRESS RELEASE JET) — Asta Powerproject makes it easy for construction project managers, schedulers, and superintendents to access the power of 3D BIM modelling.

Already the global choice for construction project scheduling, Asta Powerproject added BIM functionality in 2015 and will be showcased in Atlanta this week at the BIM Forum.

The conference on October 17-19 brings together architects, engineers, and construction pros to explore how BIM is transforming the way the “human-made landscape” of buildings, parks, cities, and neighborhoods get made.

Building Information Modeling (BIM) digitally represents the physical and functional characteristics of a building in three dimensions (3D) so that all contractors and owners are operating from the same information source and can more easily and visually spot potential construction issues earlier. That insight, in turn, saves firms time and money.

Conference goers will attend educational sessions on new ways to incorporate the power of BIM into real-world projects. Some discussion topics include adopting and using a national BIM standard, enabling BIM collaboration across AEC teams, and managing workflows. In-depth case studies of major new builds and remodels using BIM will also be featured.

Attendees will also have a chance to experience BIM software tools first-hand.

For many construction teams, Asta Powerproject’s BIM module will offer the right mix of features and value. The module, an optional upgrade, gives project planners the key benefits of BIM and 4D planning without the heavy expense or learning curve of a separate system.

Asta Powerproject reads industry-standard IFC databases and shows the 3D model in a window right in the scheduling application. This major upgrade ties the time component of scheduling to the 3D model, resulting in “4D”. Users can see where the build should be a various stages of the timeline and even adjust the timeline by clicking on an element in the BIM model to bring up its corresponding schedule.

“Asta Powerproject’s BIM functionality is allowing our non-architect customers to tap into the power of 3D models for planning and new business presentations,” said Jim Dawkins, U.S. channel manager for Elecosoft. “While there is no government mandate here in the States yet, our users say the competitive and project management benefits are ample reasons to add BIM to their planning processes now.”

[ansc] 18/10/2016 11:43

Sellers now able to get 28.13p (for 20k), 40% more than those PIs received who got out 10 weeks ago. But will 28p appear to have been a good price in 18 months time? I, for one, hope to be around to find out.

[ansc] 17/10/2016 16:24

On the ICON system website, there is a short video featuring clients Asda, Sainsburys and Waitrose singing their praises:


I know I tend to wear 'rose-tinted glasses' in respect of ELCO, but this acquisition really does look to be a steal!