We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for streaming realtime charts, analysis tools, and prices.
| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Velosi | LSE:VELO | London | Ordinary Share | GB00B19H9890 | ORD USD0.02 |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 163.00 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 163.00 | GBX |
Velosi (VELO) Share Charts1 Year Velosi Chart |
|
1 Month Velosi Chart |
Intraday Velosi Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 09/9/2017 | 11:54 | Velosi::::QualityControl | 606 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
|---|
Posted at 08/2/2011 07:43 by evaluate Geong?Just finished a 10% L&G overhang that has subdued the share price for a year. |
Posted at 09/12/2010 08:54 by taylor20 Well done guys, have to admit I lost the faith on this one, thought it would never realise its true value - unless there was a takeover of course!Well done to VELO for keeping a lid on it as well, seems to be an even rarer thing for AIM stocks these days. I bought in 3 years ago at 137p, so 165p is a little disappointing for long term holders. |
Posted at 30/11/2010 20:59 by kimball808 A company whose share price is at or below its net asset value is a strong buy signal for many recovery fund managers and is a big reason why Deryck Noble-Nesbitt, the manager of the Close Special Situations fund, holds Velosi. It is Velosi's strong cash backing - with 75% of its net assets made up of either cash in the bank or liquid working capital - that has attracted the manager's attention to the oil services testing group. Recovery managers will focus on cash as their best guide to intrinsic value and often use discounted cashflow (DCF) models to unearth ideas. DCFs are frequently used in the analysis of utilities, which have dependable future cashflows that can be discounted, using an implied equity-risk premium (ERP) to arrive at a net present value (NPV). They are equally applicable to an incumbent telecom network such as Vodafone. |
Posted at 16/11/2010 15:00 by ohisay From the FD note...VELOSI provides Testing, Inspection and Certification services to major national and multinational oil and gas companies. The services are divided into three sectors project, maintenance and certification. Overall long-term contracts represent around 70% of sales with top 10 clients representing about 40% of group revenues. Chevron is the group's largest customer representing between 10- 15% of turnover. Project services include the provision of Quality Assurance and Quality Control project verifcation services, ensuring that assets under construction are assembled to required quality standards on behalf of asset owners. This includes the review and audit of engineering and construction contractors' quality procedures and quality planning, ensuring that all phases of the project are completed to the required standard and specification.These services represent around 50% of group revenues. Maintenance services includes a wide range of services focussed on the operating and maintenance cycle of plant and its equipment. Services include asset integrity management and rig inspection and commissioning services. Clients include BP Norway, Brunei Shell, ENI and currently represent around 47% of group sales. Statutory Certification services ensure equipment can be sold or operated in accordance with local or international legislation. Overall the group has a strong competitive market position with key strengths being a wide spectrum of offered services, established relationships with key customer- NOCs and IOCs, a number of long term contracts and an efficient cost base using localised management and technicians, allowing the group to competitively price its services when tendering for contracts. The group operates in a highly competitive and fragmented market. Many of the competitors are localised with few international competitors. The main international competitors include Mistras in the US, SGS (Switzerland), Bureau Veritas, Moody International and TUV in Germany. The group's strategic objective is for a focussed approach to enhancing market share through geographic expansion. This will entail expansion into the hotspots of current oil and gas investments including West Africa, Brazil and Kazakhstan. The group is looking to start up an office in Iraq. Acquisitions are sought up to around $2.5M in more developed regions such as Korean and Norway. |
Posted at 22/9/2010 13:27 by kimball808 Digital look does...The share price of oil rig safety consultant Velosi plunged on Tuesday after disappointing half-year results, and was plumbing the depths again on Wednesday, offering an opportunity to buy the shares at an attractive earnings multiple, FinnCap argues. "We believe the share price has over-reacted to interim results, which pointed to margin weakness. Indeed, the analysts meeting uncovered that the group is already seeing a pick up in its higher margined specialist services so that gross margins will recover in H2 [the second half]," reports analyst David Buxton. The broker is leaving its full-year forecasts unchanged. "Our existing forecasts still appear valid, if anything 'slightly light' according to management. This should reassure investors," Buxton asserts. FinnCap has reiterated its "buy" recommendation and 135p price target. |
Posted at 22/9/2010 09:51 by spot1034 Does anyone else feel this fall is overdone?It might have been understandable if the share price had been racing away, but it hadn't. Even given the rise in the past couple of weeks, it was still modestly priced and now seems even more so, especially when you consider the cash on the balance sheet. Given the consolidation in the sector, could this company shortly find itself on someone's shopping list? |
Posted at 26/8/2010 09:45 by longueville Velosi can be a very illiquid stock, and small retail trades (2,000 shares for example) are often enought to move the price by a couple of pence. The shares have had a good run, and unfortutnatley a nasty market is enough to prompt investors to bank some profit. My experience has been that market makers do not change their prices simply on the back of wider market movements, they only tend to move their prices on the back of business being done. One other piece of advice. The spread on this stock can be horrible - get your broker to phone up market makers - you may well get some improvement on RSP prices. |
Posted at 09/2/2010 10:43 by oregano here is the Charles Stanley note. Velosi is effectively consolidating its operations in Southeast Asia with the acquisition of the trading name of Velosi Malaysia. We forecast the acquisition to be 8% earnings enhancing. With the group also confirming that the outturn for the 2009 year is in-line with expectations and the industry outlook beginning to improve, we increase our target price to 135p (from 110p). �� Consolidation of operations in Southeast Asia Velosi has acquired the trading name of Velosi Malaysia ("VM") for a consideration of up to RM23.3m (£4.3m/ US$6.8m). The consideration is payable in shares in three tranches with an initial consideration of RM7.9m and then deferred consideration of up to RM15.4m, spread over three years and depending on cumulative profits to 30 June 2012. In return Velosi receives a licensing fee equating to a percentage of VM's annual revenues which, while not disclosed, is estimated to be in the range of 5% to 7% (we assume 5%). The pre-tax acquisition multiple, based on the acquisition achieving the minimum cumulative PBT for the earn-out, is 4x. �� Earnings enhancing The deal will enable Velosi to gain access to a new geography and a number of new clients for which VM has already pre-qualified. Similarly, the license agreement will provide VM with access to the group's global market network and an increased range of services, as well as Velosi's international licenses and worldwide accreditations. Following the issue and allotment of the initial consideration, the two VM vendors will have c.23% of Velosi shares, increasing to 28% should the full consideration be paid (noting that they held c.21% previously). We are increasing our 2010 PBT forecast by 8% to US$18.4m (from US$17.1m). Our 2010 and 2011 EPS forecasts increase by 8% and 7% respectively, noting that VM will be consolidated for a full 12 month period in 2010 but the initial share consideration has been issued today. �� Increase price target to 135p from 110p Against a challenging backdrop, Velosi has continued to perform well. While there is margin pressure across the industry and some projects have been reined back, Velosi has still been able to grow profits during 2009 while we expect market conditions to improve as we go into 2011. Given sector rating expansion and the earnings upgrade we increase our price target to 135p (from 110p) which equates to a PEG of 1x and a 2010 PER of 8.5x; still undemanding in our view. We reiterate our Buy recommendation. |
Posted at 07/1/2010 17:07 by glasshalfull Agree Evaluate. I posted as much previously on the thread and didn't feel inclined to do regurgitate. I've been steadily adding in the low 80's and it looks like that particular tap may have turned off now (sorry Koolio). You may be interested in David Holding's recent take. Usually provides very sound analysis worthy of research. 16 December 2009 This star performer has taken a breather. Does this offer an opportunity? When I last wrote about Velosi (LSE: VELO) in April, the shares were languishing with so many others. They stood at 42p and looked like a buy on all parameters. In fact, they'd been even lower just a couple of weeks before then, reaching their nadir of 35.5p in late March. Since the Spring, the company's shares have benefitted from a combination of the overall market rally and from good news specific to the company. And it's this specific news long-term investors are more interested in than the relatively short term vagaries of the market -- though the latter had presented a nice opportunity. To put my cards on the table here, I sold the few shares I'd bought in March in September. Funnily enough, this wasn't because I thought the true value had been "outed" in any real way -- despite them more than doubling -- but because I thought there was even better value elsewhere. Time to get back in? Today, back at 84p, the shares looking very tempting again. This is mainly due to a combination of balance sheet strength and the prospect of increased earnings. There's a bit of a danger here though. Velosi is an oil services company, and such companies often display value characteristics placing them at a discount to their wider market peers. But that didn't stop the shares going over 150p a couple of years ago. The company provides quality assurance and quality control services to some of the world's biggest oil and gas companies, including BP (LSE: BP), Royal Dutch Shell (LSE: RDSB), ExxonMobil and Chevron, ensuring that the equipment these companies use works properly and is safe. Velosi has offices in the USA, the UK, Malaysia and the UAE and has operational or representative offices in a further 27 countries to support its aim of removing the problems faced by oil giants as they try to control operations remotely, in unfamiliar territories. It also researches sub-contractors looking at health and safety and testing equipment. All good news Back in early April when I wrote about Velosi, the final results were less than three weeks away and investors were understandably nervous due to the gloomy economic backdrop and relatively low oil price which was putting a dampener on the whole sector. Fortunately for those of us holding shares, the final results for 2008 really were excellent. They revealed turnover up by 56% to $182.1m, pre-tax profit up by 30% to $14.9m, earnings per share (EPS) of $0.22, cash of $17.8m and almost non-existent gearing of 1%. The company was confident about its prospects for the remainder of the year and was experiencing "unremitting demand" for its services. Value Little wonder then, that the share price began its steep ascent. Then the interim results to the end of June this year confirmed the company's progress, showing pre-tax profit up 10% to $7.9m, on revenue of $89.2m, EPS up 8.4% to $0.11 and cash of $20.1m. This performance lifted the shares to a year's high of 118p. Since then, the shares have taken a breather, perhaps on a little profit-taking, some small cap market malaise and the fact that the company was a little cautious about the outlook, viewing the oil price climb more as a function of decreased supply than increased demand. Consequently, it views the market as "challenging". From an investment point of view, though, the directors come across as a refreshingly "feet-on-the-ground" bunch. Other companies would be far more bullish -- albeit misplaced. The company's potential hasn't been lost on the Fool's discussion boards, where Velosi's value was recently explored. At current exchange rates, the company has cash of £12.3m, and net tangible assets of £37m, yet its market capitalisation is less than £40m. Meanwhile, its broker is expecting EPS of 13.4p this year, rising to 14.4p next year, placing the shares are on a forward price-to-earnings ratio of 5.8. Strip out the cash, and this falls to less than four against enterprise value. This is plainly too cheap for a growing company experiencing such demand for its services. |
Posted at 29/10/2009 08:45 by taylor20 Tipped in AIM & PLUS Newsletter:Buy Velosi (VELO) at 91.5p THE BUSINESS Listing on AIM in august 2006, raising GBP10 million in the process, Velosi is an international provider of quality assurance and quality control services to a number of major national and multinational oil & gas companies. Services provided by the firm aim to help companies maintain their existing plant, keep it working to the best of its ability and ensure certain legislative and health & safety requirements are met. Customers include Shell, Petrobras, Chevron, Repsol and BP as well as a number of engineering contractors. While the firm is heavily exposed to the oil and gas sector it also provides its services to the mining and nuclear industries. As of today the firm operates through five main regional headquarters located in Houston in the US, Reading in the UK, Kuala Lumpur in Malaysia, Johannesburg in South Africa and Abu Dhabi in the United Arab Emirates. These are supported by smaller regional offices, with the company operating from 36 countries around the world. By revenues the Middle East is Velosi's largest area of operation, generating 38% of revenues in the first half of the current financial year. at 21% of revenues, Europe is the company's second largest area, with Africa third at 17%. In fourth and fifth place respectively are Asia & Australia at 15% and Americas and the former Soviet Union at 9% No trader's commission, No quarterly account charges, No inactive charges CURRENT TRADING Results for the six months to 30th June 2009 showed continued growth for the period despite the economic downturn. Driven by a 100% retention of existing contracts and by new contract wins, revenues grew by 15.4% to $89.2 million in the half. Pre-tax profits were up by 10.4% to $7.9 million as margins were affected by a change in the business mix and by the economic conditions. Basic earnings grew by 8.2% to 11.2 cents, being affected by a higher effective tax rate, but no interim dividend was recommended. Velosi has stated that it expects to pay a dividend for the full year, subject to performance. At the period end net cash was $19.7 million, up from $17.8 million six months earlier and up from just over $9 million a year ago. Cash balances were boosted significantly in March 2008 when the company raised GBP4.42 million to spend on the working capital needs of several new contracts and for further geographical expansion. By geography, there was a particularly good performance from the Middle East where revenues grew by 26% to $33.8 million. This was on the back of several new offices being opened in the region during 2008 and a number of new contract wins. Sales in africa also grew strongly, hitting $15.2 million, up from $8.7 million, having recovered from problems experienced last year in relation to the ownership of Velosi Nigeria, after its general manager and major shareholder was shot dead. Across the other regions sales were either down slightly or relatively flat on the first half of 2008. Velosi was positive about the outlook stating that it is confident of trading in line with expectations for the full year. The company has traditionally seen revenues weighted towards the second half and this year is not expected to be any different. OPPORTUNITIES AND THREATS The main concern for the firm must surely be the weak global economy, which as the interims showed, has put pressure on margins as projects across the world being delayed or even cancelled. While in the industry as a whole spending on oil & gas development is widely expected to fall this year, capital expenditure by the major oil and gas players has held up relatively well so far in 2009. BP recently announced, in results for the first quarter of 2009, capital expenditure, excluding acquisitions and asset exchanges, is expected to be less than $20 billion for the year, down only slightly from 2008. Chevron has a $22.8 billion capital and exploratory spending program for 2009, unchanged from 2008. Shell recently said that it was on track to spend $31 billion to $32 billion in 2009, slightly up from 2008, but expects to cut capex by around 10% in 2010. Although Velosi is not directly exposed to changes in the oil price, it has an indirect exposure via changes in the development expenditure of its major customers made on the back of any price fluctuations. Since dipping below $40 a barrel at the end of 2008 the price of oil has recovered in 2009, having been trading around $70-75 barrel mark for the past two months. While this is positive for Velosi the reason for the price rise has widely been put down to falls in oil supply and a weakening of the US dollar rather than to an increase in demand. As such, the price rises have not fed through into higher capital investment. The outlook remains challenging, with a recent report from the Centre for Global energy Studies saying there was likely to be "little or no sustained upward pressure on oil prices until global economic recovery is firmly established" VALUATION Charles Stanley is looking for revenues of $191.5 million for the full year to December 2009, with pre-tax profits of $16.1 million and earnings of 13.44p. The revenue and profits figures were trimmed slightly following the release of the interims but earnings forecasts were maintained due to a lower expected tax charge and a lower minority interest payment. Further growth is expected in 2010 and 2011 when earnings are forecast to hit 14.43p and 15.88p respectively. At the current price of 91.5p the shares trade on a current year multiple of 6.8 times, which falls to 6.3 times in 2010. In addition, if the 2008 full year dividend payment is maintained the shares offer a yield of 0.6% - not attractive in itself but reasonable considering that the company prefers to use its retained earnings to fund the development of the business. BUY. |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
