Vindon Healthcare Share Discussion Threads

[masurenguy] 22/10/2009 09:37

Still overvalued in my opinion with a prospective current year PER of circa 14 which is expensive for a small cap in this market. A current year PER of circa 7 or 8 would price them around 6p, which Rivaldo suggested could be fair value back in August when the price was around 17p. The most recent share sale price was 10.5p so there could still be further downside to come. The share price here has not only missed the whole market rally this year but has actually dropped by 45% since the end of June.

Very glad that I didn't invest here when I first began to check them out in May. I subsequently bought into Cryo-Save instead, who are the market leader in stem cell storage. In contrast with VDN, their share price is up by 75% over the past 4 months !

[piedro] 19/10/2009 10:26

IMS Raises Global Pharma Market Growth Forecast
Oct 15, 2009
By: Angie Drakulich
IMS Health delivered some good news last week with its updated pharmaceutical market forecast. The market-research firm expects the global pharmaceutical market to grow 4–6% in 2010, reaching more than $825 billion. Looking ahead to 2013, industry can expect a 4–7% annual growth rate, reaching more than $975 billion. This forecast represents a 1% increase in IMS's five-year global market estimates released earlier this year. ... ...

[piedro] 05/10/2009 16:32

No trades showing on PLUS
and only a morning sell of 1,200 on LSE
whereas they can be bought well within the spread

[masurenguy] 05/10/2009 15:07

More selling today. Circa 117k Sells compared to 27k Buys so we might see 10p soon !

[masurenguy] 02/10/2009 15:13

Still slip sliding away. Looks like your 10p valuation might even be achieved Riv ! Even at that price they're probably on a current year PE of around 9, which is still not cheap for a company where sales are flatlining and earnings are falling.

The VDN share price has now dropped by almost 35% during the past 3 months, going in an opposite direction to the market rally during that period.

[piedro] 15/9/2009 14:06

A markdown by Winterflood.
Are they looking for stock?

[piedro] 15/9/2009 14:00

8:19 am, September 15, 2009
Profits down but Vindon wins first stem cell storage contract
...
Liam Ferguson, chairman, said: "The group's strategy is to increase the revenue streams from its in-house speciality storage services. The investment associated with this transition has had a short term impact on the first half results, as project based revenue is replaced with long term recurring revenue."
...
Vindon said it saw the US as a key market where it plans to offer speciality storage services during the second half of 2010. Working capital requirements have increased by £580,000 to support export sales, leading to a 25 per cent fall in cash generated from operations to £744,000.
In the UK it began a five-year contract, worth £120,000 per year, to store 46 pallets of old films for an unnamed British heritage institution. It has also received its first contract for the storage of stem cells, which will arrive in the fourth quarter of 2009. ...

[piedro] 15/9/2009 08:01

RNS Number : 0423Z
15 September 2009
Interim Results for the Six Months Ended 30 June 2009
Vindon (AIM:VDN) the manufacturer and service provider of speciality storage solutions for controlled environmental testing, heritage artefact storage, ultra-low temperature and cryogenic sample storage, announces its unaudited interim results for the six months 30 June 2009.

£'000 ............. H1-09 ...... H1-08
Turnover ...........2,593 ...... 2,556
Gross Profit ...... 1,641 ...... 1,643
Operating profit .... 527 ........ 846
Profit before tax ... 497 ........ 828
Diluted EPS ....... 0.39p ...... 0.64p

The Group increased revenue in the first six months of the year, which was attributable to the provision of specialty storage services to the pharmaceutical sector, in which Vindon retains high levels of market share.
Whilst sales of capital equipment have not grown as anticipated, the sector as a whole has become more cautious in committing to capital expenditure. However, in spite of this, manufacturing revenues are reduced by only £41,000 compared to the same period last year
Over the first half, Vindon has capitalised on the move to its state of the art facility, making substantial progress in implementing its strategy through:
Continuing growth in stability storage market to the pharmaceutical sector
Establishing a presence in the heritage storage sector, with the commencement of a five year contract with a leading British heritage institution
Signing its first contract for the new cryogenic storage facility
In addition the Group has made good progress in its strategic international expansion, with the Irish operation delivering its first profits and establishing a foothold in the US market.
Liam Ferguson, Chairman commented: 'The Group's strategy is to increase the revenue streams from its in-house speciality storage services. The investment associated with this transition has had a short term impact on the first half results, as project based revenue is replaced with long term recurring revenue.'

[piedro] 09/9/2009 09:48

EDITED:
Interims should be out next Tuesday - 15/09/09.

and, ...
WHIreland Research note now available

[masurenguy] 08/9/2009 18:46

rivaldo - 17 Aug'09 - 22:23 - 72 of 72: A P/E of 20.6 is far too high - and VDN also has around £2.4m net borrowings. It's difficult to justify a share price of more than 10p for a company showing no growth and with material net borrowings, and maybe even 6p-8p is more appropriate.

Riv - I think that you're probably right - looks very overpriced. In the meantime I bought into Cryo-Save circa 3 weeks ago and their share price has since gone up by more than 50% following their announced intention to list on Euronext.

[rivaldo] 17/8/2009 22:23

Hi Mas. Been in and out of VDN myself in the past. Good company, but has always been on a high rating and looks overpriced now imho.

The company broker's note dated 10th August is apparently now forecasting just 0.8p EPS this year and the same 0.8p EPS next year. A P/E of 20.6 is far too high - and VDN also has around £2.4m net borrowings.

It's difficult to justify a share price of more than 10p for a company showing no growth and with material net borrowings, and maybe even 6p-8p is more appropriate.

[piedro] 14/8/2009 09:25

LOL !!
Profitable company, niche products, demand will return, ('where else'?) .... market over-reacted - IMHO

[masurenguy] 14/8/2009 08:40

Some retrace this morning but it remains a very illiquid stock.

[piedro] 10/8/2009 10:42

Topped-up earlier this morning - marked as unknown, (green), trade.
Plenty of green buying within the spread but no consideration for the 'sales'.

[piedro] 10/8/2009 08:02

RNS Number : 1317X
10 August 2009
Trading Update
Vindon (AIM: VDN), the manufacturer of environmental control products for the pharmaceutical industry, life sciences and food sectors announces that Group turnover for the six months to 30 June 2009 was marginally ahead of turnover for the six months to 30 June 2008. The Group remains profitable and well within banking covenants.
However, the market for capital equipment has been less buoyant than previously experienced and as a result the Directors of Vindon wish to inform the market that they anticipate that the outcome for the year to 31 December 2009 will be materially below market expectations.
The interim results for the six months to 30 June 2009 will be announced on 15 September 2009.

... profit warning...
... how much could 'materially below market expectations' be ?

[masurenguy] 10/8/2009 07:46

Profit warning - explains the selling that occurred last Thursday and Friday !
No position - still watching from the sidelines.

RNS Number : 1317X
Vindon Healthcare Plc
10 August 2009

Trading Update

Vindon (AIM: VDN), the manufacturer of environmental control products for the pharmaceutical industry, life sciences and food sectors announces that Group turnover for the six months to 30 June 2009 was marginally ahead of turnover for the six months to 30 June 2008. The Group remains profitable and well within banking covenants.

However, the market for capital equipment has been less buoyant than previously experienced and as a result the Directors of Vindon wish to inform the market that they anticipate that the outcome for the year to 31 December 2009 will be materially below market expectations. The interim results for the six months to 30 June 2009 will be announced on 15 September 2009.

[piedro] 05/8/2009 17:17

Westech Instruments has partnered with Vindon Scientific to introduce and fully support their stability storage solutions in USA and India. With over 40 years experience, Vindon is regarded as the leading supplier of controlled environmental testing chambers, refrigerators and freezers throughout Europe. Westech now offers Vindon's full line of superior quality stability chambers for your pharmaceutical needs....


... from 2007'ish.

[piedro] 05/8/2009 15:11

WHAT'S IN STORE?
Within the new premises, there will be cGMP-compliant freezer storage in mechanical freezers or liquid nitrogen vessels. This facility will include 24 x 7 x 365 21CFR, Part 11-compliant monitoring and alarm response, catering for all quantities, from one vial upwards.
Our brand new purpose-built best-in-class Stability Storage Suite provides unrivalled outsourced storage for our clients. Once fully operational, there will be approximately 80 walk-in Stability Rooms capable of accepting over 1,400m3 of product. Plus, the capability to expand even further! A complete range of World Climatic ICH Zone II conditions is available, along with other unique conditions.
Chambers and cabinets are also available for individual samples and trials, which can be validated at any temperature and/or humidity.

[piedro] 08/7/2009 04:00

New website ......





and an article that should be in the header