Share Name Share Symbol Market Type Share ISIN Share Description
Sprue Aegis LSE:SPRP London Ordinary Share GB0030508757 ORD 2P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 182.50p 180.00p 185.00p 182.50p 182.50p 182.50p 33,714.00 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electronic & Electrical Equipment 88.3 6.8 13.2 13.8 83.69

Sprue Aegis Share Discussion Threads

Showing 1551 to 1575 of 1575 messages
Chat Pages: 63  62  61  60  59  58  57  56  55  54  53  52  Older
DateSubjectAuthorDiscuss
16/3/2017
08:18
Results on 4th April with an investor presentation at 4.30 on the 5th for which you need to register.
robow
16/3/2017
08:13
Results on 4th April with an investor presentation at 4.30 for which you need to register
robow
16/2/2017
15:55
2x 20k blocks sold today by the looks of it.
greenroom78
16/2/2017
12:43
Short term profit taking ??
pugugly
14/2/2017
16:29
I was just about to ask the same thing. Lovely breakout and no resistance until well over 200p (except maybe the round number of 200p).
greenroom78
14/2/2017
16:27
tipped somewhere?
robow
01/2/2017
18:14
Joined you all in here today, quite like how the chart appears to be turning up with price now above 50, 100 & 200sma and all of those SMAs are turning up. Fundamentally they appear to be getting on top of last year's problems and have a decent cash pile too. Thanks to GHF (as always) for sharing his research.
greenroom78
24/1/2017
21:29
GHF: Thanks for updated header.
pugugly
24/1/2017
20:13
3800 - Certainly...now added to the header for future reference with update made to 2016 forecasts following the Westhouse update today. I'd be very disappointed if EPS wasn't 30%-50% higher than the Westhouse forecast for 2018. Kind regards, GHF
glasshalfull
24/1/2017
17:55
thanks for that GHF, I didn't know Westhouse had forcasts for 2018 would you mind sharing what they actually are please? 3800
3800
24/1/2017
16:45
Mas - re. post 1488 ... It's Graham Neary writing Paul's blog today (as Paul's currently in Warsaw). Clearly Graham is unaware of the CICAM relocation & stocking issues of 2014/15 or the legislative deadline / requirement for French properties to have a smoke detectors. This of course has caused indigestion as sales were ramped up in a short space of time to meet the unprecedented demand. I agree with the importance of the sentence you've highlighted regarding the adverse currency rates, which have impeded SPRP's progress for a number of years either via the weak Euro in the last few years & continue via the strong dollar. Worthwhile to note that they share the "pain" of strong dollar with their distribution partner 50/50 per supply term agreement last year: - HTTP://www.investegate.co.uk/sprue-aegis-plc/rns/update-on-supply-terms/201603100700076029R/ "Sprue has agreed to share equally the impact of Sterling's depreciation against the US Dollar from a previously fixed rate of GBP/US Dollar 1.62 exchange rate." While it doesn't solve the issue at least it mitigates somewhat, especially if volumes increase due to the rebate mechanism in place. I thought the other part of the statement that was worthy of flagging (or highlighting) was the recovery in Germany, with sales +52% on 2015. This suggests that the fireAngel product range powered by Panasonic has been welcomed by customers and augurs well for the retrofit opportunity & also replacement cycle across a number of German states in 2017/18. I'd previously documented this in post 1318 in Feb 2016 (took a while to check back ;-) Here's the relevant part: - The biggie though could be Germany. With French sales falling away in 2016, the question has always been whether Germany would pick up the slack. To answer this question it is worth providing some background. North Rhine is required to ensure mandatory retrofitting of smoke alarms in all residences by 31.12.2016. This is the largest German State with 22% of the entire population (18m) & the difference here in comparison to France is the requirement for an alarm in EACH bedroom of a property alongside an alarm in all children's rooms. Also a requirement to install an alarm in the hallway of each property. Whereas, in France the requirement is only for 1 alarm per floor (think this translates to 1.6 alarms per property). Alongside the legislative requirement for North Rhine, we have Bavaria (12m residents) with a legislative requirement in similar terms by 31.12.2017. So, 30 million residents (37% of the German population) encompassing 10 million homes...with the 10m homes estimated to require 3/4 alarms per household over the next couple of years. Therefore, this provides an expectation for double or triple the amount of smoke alarms per property in comparison to that experienced in France. In addition, the Germans are looking for higher spec products which command greater margins and of course this plays directly into Sprue's hands with their extensive product range & market leading position in the German market. In France the demand appeared in a very short timescale as the French population played catch-up on legislation which was enacted 2/3 years earlier. This again played to Sprue's strength as they were the only company with ability to fill this unprecedented short-term demand. Germany in comparison is likely to play out with orders well ahead of the curve, so with the 31.12.2016 requirement there's the possibility that they could see a ramp-up in demand anytime soon. ---- On the back of all this Westhouse have provided an update with 250p price target. Some snippets: - "...We are most encouraged by the 52% increase in sales into Germany in 2016 (vs 2015), which was primarily due to the launch of new FireAngel products (with Panasonic batteries) in H2 2016. As we have argued previously, we believe that there is a similar- sized smoke alarm market opportunity in Germany in the next two/three years, as there was in France in 2014/15. If sustained the current euro/sterling exchange rate would, undoubtedly, be an additional positive." and "...For FY2016 we have increased our adj. PBT forecast to £2.2m from £2.1m and adj. EPS to 4.4p from 4.2p on sales of £57.1m vs £58.0m. We maintain our dividend forecast of 8p. At this stage, we have made no changes to our 2017 and 2018 forecasts. We continue to believe that we have taken a conservative stance on Sprue’s likely share of the German market and sales growth in UK Retail and UK Trade. We maintain our DCF- derived target price at 250p which still conservatively uses an 11% WACC and 2% long- term growth rate. We believe that the current share price is underpinned by our forecast of a maintained 8p dividend for 2016 which implies a 3.2% dividend yield at our 250p target price." --- Hope this assists. Kind regards, GHF
glasshalfull
24/1/2017
15:52
It's pretty clear that the new manufacturing agreement that came into place in early 2016 has changed the FX profile of the company, the plunging £ since then is not at all welcome for SPRP.
cockerhoop
24/1/2017
15:23
Well 3800 - we can only wait and see. Hopefully that will not be the case !
masurenguy
24/1/2017
15:08
hi Masurenguy, your highlighted sentence regarding currency rates makes the cynic in me wonder if we arn't being prepared for the next earnings downgrade, lets hope not. 3800
3800
24/1/2017
14:48
Paul Scott's view on the Trading Update. This is a mixed update which describes the company working through various challenges, as it tries to get back to normal performance levels. "Sales are expected to be approximately £57.1m (2015: £88.3m) and the operating profit* (post a £0.2m restructuring charge) is expected to be approximately £2.1m (2015: £12.8m). The Group delivered an improved performance in the second half with an estimated H2 2016 operating profit* of £3.0m (H1 2016: operating loss of £0.9m before share based payments charge)." That sounds like a reasonable H2 result, in the circumstances, but note that it is before share based payments of £0.6m (which increased slightly, compared to 2015). If paying out share awards was irrelevant to the operating performance of a company, it wouldn't pay them, I think - so share awards should always be included in operating numbers like this. There is nothing special about these annual payments which means that external shareholders can simply ignore them. So I would argue that a more meaningful operating profit figure would be £2.4 million in H2, up from a £1.4 million loss in H1. My opinion: Looking forward, I'd like to be bullish on the company's recovery prospects. What I really need to understand is how overstocking in France led to such a large sales collapse there - was management at fault? Were lessons learned? Perhaps the annual report will help to explain. Cash is now £14m, leaving the enterprise value (market cap minus cash) at £65m. Further business recovery is due, and will be needed to justify this valuation.
masurenguy
24/1/2017
07:49
RNS Number : 8912U 24 January 2017 Sprue Aegis plc Trading update Sprue, one of Europe's leading home safety products suppliers, today announces a trading update ahead of the release of its audited final results for the year ended 31 December 2016, which are expected to be in line with market expectations. The figures set out in this announcement are subject to audit. Sales are expected to be approximately £57.1m (2015: £88.3m) and the operating profit* (post a £0.2m restructuring charge) is expected to be approximately £2.1m (2015: £12.8m). The Group delivered an improved performance in the second half with an estimated H2 2016 operating profit* of £3.0m (H1 2016: operating loss of £0.9m before share based payments charge). The reduction in sales was mainly driven by significantly lower demand in France. However, sales into Germany recovered strongly in 2016, up 52% on 2015, primarily underpinned by the launch of new FireAngel products in H2 2016. Due to the phased introduction of smoke alarm regulation in further states in Germany and the timing of the commencement of product replacement cycles, the Board expects the German market will continue to provide significant growth opportunities for the Group. Since the EU referendum, the Group has seen significant product cost inflation due to the weakness of Sterling against the US Dollar, which was only partially offset by the strength of the Euro against Sterling. FireAngel product returns and FireAngel warranty costs in 2016 were in line with the Board's expectations. Sprue expensed a core level of FireAngel warranty costs equivalent to approximately 1.0% of expected 2016 sales and released part of the FireAngel warranty provision to offset warranty expense above that core level. In 2016, the Board increased the stock provision by £0.5m to £0.7m (31 December 2015: £0.2m), primarily in relation to French stock as previously announced. Net of provisions, stock at 31 December 2016 had reduced by 15% to approximately £13.3m (2015: £15.6m). The Company's balance sheet remains strong with £14.3m of cash at the year end (2015: £22.4m) and no debt (2015: £nil). The Company expects to announce its final results for the year ended 31 December 2016 in late March 2017. Graham Whitworth, Executive Chairman of Sprue, commented:"We are pleased to report good progress across the Group. The team worked effectively to address the key challenges which is reflected in the stronger performance in H2 2016. The functionality of home safety products continues to evolve and our R&D team is working to ensure we maintain our "best in class" reputation. We are well placed to capitalise on emerging opportunities including sales of connected home products." *Operating profit in 2016 of £2.1m is stated after a £0.2m restructuring charge (2015: £nil) and before share based payments charge of £0.6m (2015: operating profit of £12.8m is stated before exceptional warranty charge of £5.5m and share based payments charge of £0.5m)
masurenguy
13/1/2017
15:59
In the last 2 years the trading updates have been as of next week,there hasn't been any "slippage" of the share price like last year so I'm just hoping this years is good news not bad. 3800
3800
16/12/2016
09:20
Quietly making good progress here with the shareprice rising by 12.5% over the past 2 weeks !
masurenguy
14/12/2016
13:13
Indeed. Still think Jarden may take another look here.
the big fella
14/12/2016
12:49
I think we are awaiting a trading update - would be nice to return to the days of a December statement saying thy are ahead.
glaws2
14/12/2016
12:34
All very quiet here. GW also been mysteriously quiet lately. Hmmmm
the big fella
12/12/2016
09:56
Not been a post in a while so I thought I would throw something into the mix. Given the plummet of sterling against the dollar there have been a number of mid tier GBP companies subject to M&A. In the last month 3 of my holdings have had bids. Given the past offer by Jarden, and that Sprue's share price is half of it's peak, favourable exchange rates may tempt Jarden to come back. At what price would you be tempted?
the big fella
09/11/2016
08:44
Yes same here. If you pro rata my holdings and watch list up then 95% of small caps are down >4%
pj 1
09/11/2016
08:42
Indeed it is but my small caps are all red this morning despite very small FTSE fall. Suspect they will come back over the course of the day if FTSE stays as it is.
harrogate
09/11/2016
08:38
Surely £ rising vs USd and falling against euro is perfect for us?
the big fella
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