Share Name Share Symbol Market Type Share ISIN Share Description
Low & Bonar LSE:LWB London Ordinary Share GB0005363014 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 65.75p 65.50p 65.75p - - - 0.00 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 395.8 12.4 1.7 38.0 216.34

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24/10/201607:09Low & Bonar Plc985.00
09/7/200716:36...i have followed this donkey from lowlands of 42p...it still can double...8.00
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Low & Bonar (LWB) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
08/12/2016 17:15:0564.0080,00051,200.00O
08/12/2016 16:35:1765.75226148.60UT
08/12/2016 14:32:0865.631,114731.06O
08/12/2016 14:28:2965.8013,0008,553.99O
08/12/2016 10:27:2465.7219,30012,683.94O
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Low & Bonar (LWB) Top Chat Posts

DateSubject
08/12/2016
08:20
Low & Bonar Daily Update: Low & Bonar is listed in the Construction & Materials sector of the London Stock Exchange with ticker LWB. The last closing price for Low & Bonar was 65.75p.
Low & Bonar has a 4 week average price of 67.18p and a 12 week average price of 66.06p.
The 1 year high share price is 71.50p while the 1 year low share price is currently 0p.
There are currently 329,033,749 shares in issue and the average daily traded volume is 102,121 shares. The market capitalisation of Low & Bonar is £216,339,689.97.
11/10/2016
23:14
rathkum: Low & Bonar: Growth stock with a decent divi 14:01 11 Oct 2016 Law & Bonar can trace its roots back to the turn of the last century when it first started weaving jute, a vegetable fibre that was used in rope. Low & Bonar: Growth stock with a decent divi The company's fabrics are used in civil engineering, building and construction. Shares in Low & Bonar (LON:LWB) have traded in a very narrow range in the year to date and are barely changed in that period. The valuation of the business, at 11 times 2016 earnings per share, dropping to 9.3 times 2017 EPS, suggests the company is stagnating. However, as we will see, nothing could be further from the truth. Before we make the investment case, it is probably worth looking a little closer at what the business does and how it makes its money. Law & Bonar (L&B) can trace its roots back to the turn of the last century and first started weaving jute, a vegetable fibre that was used in rope and matting, in 1912. Today it is a market leader in sophisticated performance materials that makes yarns, fabrics and fibres used in civil engineering, building, construction, transportation and other industrial applications. It is divided into four business units that are international. Colback, one of its best-selling products, is all around as it provides the backing for floor tiles and is used inside cars. WATCH: L&B boss on the potential of the business In fact, the company has invested heavily (£26mln) in a state-of-the-art factory in Changzhou, China, that manufactures the product. It is within 200 miles of 80% of the country’s textile flooring industry giving it a ready market. The plan is to double the footprint of the plant over the next few years. The investment in China was part of L&B’s strategy to broaden its geographic footprint outside the UK and Europe, which accounts for 65% of revenues. The company has evolved under chief executive Brett Simpson. It is more market-focused, rather than being product driven. What this means in practical terms is it listens to customers and creates products they want or need rather than developing a new fabric or fibre and then trying to find a market for it. It might make create innovative material in-house, but equally it could buy in the expertise. It is always looking to move sideways into what Simpson calls “adjacent markets” – though only where the return is attractive. And L&B is driven by returns (particular return on sales and capital employed) and takes what he calls a “portfolio approach” to the businesses it operates. In other words, if an L&B operation doesn’t pass muster, it is disposed of. In fact the artificial grass yarns unit is being sold for £24mln for that very reason. “We worked hard and made big improvements to the relative performance; however, the absolute returns are just not high enough and we are divesting it,” said Simpson. “We are also working on issues with our Saudi JV [joint venture] so it doesn’t make further losses.” That hard-nosed approach appears to be working – just look at the forecasts made by the company’s broker Peel Hunt. It sees pre-tax profits growing by 12% this year to £28.5mln and then to £33.5mln the year after and to £36mln by 2018. L&B is forecast to pay a total dividend of 2.9p this year, which equates to a very decent 4.4% yield. Net debt, which was just under £140mln when L&B last updated, is forecast to fall to around £95mln by the end of the year. Simpson says that level of borrowings is manageable and well within its target range. According to Peel Hunt the current share price of 64p “does not reflect strategic progress to date towards improved quality of earnings and higher returns, nor the positive earnings momentum established over the last 12 months”. It says L&B shares are worth 90p each. “After a period of heavy investment, we now expect earnings growth to accelerate and the balance sheet to deleverage,” said analyst Dominic Convey. He expects the stock to receive a “deserved re-rating”. Boss Simpson won’t be drawn on the share price, but is satisfied L&B is moving in the right direction. “We know where we are making money,” he said. “We know where our strengths are and we are building on them and pushing into new geographies as well as sorting out the legacy issues.” http://www.proactiveinvestors.co.uk/companies/news/167232/low-bonar-growth-stock-with-a-decent-divi-167232.html?utm_source=Sign-Up.to&utm_medium=email&utm_campaign=7163-357784-proactivity+-+11%2F10%2F2016
18/8/2016
09:17
ed 123: Yes, rathkum, I think it will go higher from here. Atm, it's at the top of a channel, paused for direction. Btw, Kingfisher today reported Q2 France sales up 10%, Poland sales up 15% and Spain sales up 19%. A pickup in Eurozone will be good for LWB, and so will a conversion back to a weaker Sterling. Brett Simpson is raising the quality of the Group. We are due an announcement of a solution to Bonar Natpet soon. Goes ex a 1p dividend next week. While things are so quiet, I've played with some numbers ... 330m shares issued. At say 65p, market cap is £214m. Add deferred share value of £31m. Add in net debt of £140m and pension deficit of £15m gives enterprise value of £400m. EBITDA for the current year £35m(?). Return on notional investment would therefore be 8.75% pa. LWB replaced its debt recently at an interest rate of only 2.57% pa. (It is considered to be a safe business to lend to.) There is scope for someone who wants Colback, etc. to bid say 100p for the ordinaries. Then enterprise value would jump to £516m. Funded at say 4%pa, would cost £21m - easily covered by the ebitda of £35m. LWB is quiet (not a single share traded so far today), but has value at the current share price, imo. (NAI)
04/7/2016
07:17
ed 123: Sale of the Sports and Leisure Division, announced today, has been well received by the market. Share price up 3.3p or 5% at 63p. Brett Simpson has settled in and is moving the Group in the right direction. Interim results to be released on Wednesday. I'm hoping for news on the Bonar Natpet facility.
18/6/2016
09:34
rathkum: Regardless of the pending interim results next month, the recent slide in the share price to 56p was overdone, so no surprise in the up tick.
16/2/2016
16:36
ed 123: AGM to start at 10:00am on 31 March, at Pullman Hotel (near Euston Station). The recent share price performance was unexpected (by me!). You've got your under 62p entry point, if you want it, Puffintickler. I find that my interpretation of share price falls is conditional. If it's a share I'm holding, any fall must be due to a short selling conspiracy. When it's a falling share I don't hold, it's just the market giving its opinion. Seeking a rational explanation, I've opened my mind and revisited the results. It still looks ok to me. Notably, the outlook was for further growth this year, despite some market weakness. From the Chairman (2 February 2016), As we look to 2016, ......... Despite these continuing economic headwinds, the Board is confident of achieving further progress. For anyone who is holding, a bit of incentive to hang on - there's a 1.8p dividend going ex on 17 March. It's on a full year 5% yield at 55p. All just my own opinion; no advice intended.
13/5/2015
08:07
nigelmoat: Share price here been solidly strengthening over last few weeks. Improving economies in Europe helping.
26/3/2015
11:46
ed 123: The share price has looked firm since the agm, today up 0.5p while FTSE100 is down 85 points. Institutional investors must have been somewhat encouraged by what they heard. Thanks to all here for their posts. The next trading news will likely be the interims in July.
24/3/2015
19:54
ed 123: Agree that the IMS read slightly negatively. However, they say they're confident about meeting expectations for the full year. Share price up 2p today (relief response?) after falling about 5p (including 1.75p xd) in the week before the IMS. I see that N+1 Singer have reiterated their 'hold' recommendation and their target of 54p. Closed today at 57p, yielding about 4.7%. I guess the market is waiting for clearer signs. Last year was the first full year for L&B ownership of Texiplast, but half way through the year demand fell sharply. The directors say they are still confident that buying Texiplast was a good move. The other trading issue was the slow start up of the Saudi Arabian jv. Even today, the ims said, "sales development remains slow." Again, the directors sound confident that it's just a matter of time. Other parts of the Group are going well, so that compensates. Metier9, Lateralam, rathkum and others. I read the annual report and trading statement ahead of the start of the meeting. Some of your concerns were already covered, so I didn't ask. For instance, 'impact of the weak Euro' was said in the ims to be balanced by strength of US dollar. Also, there's plenty written in the Annual Report on marketing strategy. Additionally, Brett Simpson stated more than once that they were moving to a more customer focussed, rather than product focussed marketing. Then, there's the question of debt. If we look back over the past five years, we see that the net gearing for the year ended 30 Nov 2014 was (just) the lowest of any the last five years. Also, in the Annual Report they again mention looking for bolt-on acquisitions - so not a sign that they want to lower debt. And, they cover net debt and re-financing in the Annual Report without stating any intention to reduce debt. To me, all the signs were that they were comfortable with their debt level and had no plans to reduce it, so I didn't ask. It was a pleasant agm. I had already been informed there would not be a presentation. I like presenatations as they give management a chance to put their own emphasis on various aspects of the business. Caveat, though, that they could omit things which don't reflect well on them. They may do a presentation at next year's agm. Overall, I think I'm with the market on this one. I'm holding while waiting for the next news (interims in July?) about Texiplast and the Saudi Arabian jv. Hope that's some help.
23/3/2015
11:53
ed 123: Metier9 and Lateralam Ok, will take your questions with me. Looking at the share price slip ahead of tomorrow's trading update, I may have a question of my own. :-/
11/12/2014
08:55
nigelmoat: Well at current share price the dividend yield is now 5.5% and can't see that being reduced. Anticipate the European market will pick up next year with central finance projects such as big constructions and imo things could well change for the better so I am a buyer.
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