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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Acal | ACL | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 320.25 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 320.25 | 320.25 |
| Top Posts |
|---|
Posted at 28/11/2017 07:27 by rivaldo Terrific H1 results today:Changing the name tomorrow to reflect the transformed nature of the group to own design and manufacturing in high growth sectors. Very, very confident outlook: "Nick Jefferies, Group Chief Executive, commented: "This is a strong set of results. Sales increased by 21%, of which 9% was widespread organic growth across the Group, and underlying earnings per share increased by 24%. The second half has started well and we are on track to deliver full year performance in line with our expectations, supported by a record order book of £111m. Together with an increase in new project design wins of over 30%, with an estimated lifetime sales value of over £90m, we are well positioned for continued growth. Since 2011, we have been building a Design and Manufacturing business that would transform the Group into a higher margin business. D&M now accounts for 78% of Group underlying profit contribution.... ....We have many growth opportunities ahead of us as we drive towards our stated targets, and our ambition remains to repeat the performance of the last five years by doubling revenue and underlying earnings per share through a combination of organic growth and value-enhancing acquisitions." The highlights section says it all: "Highlights · Strong growth in sales, orders, profitability and earnings o Sales up 21% (+15% CER(2)) on orders up 22% (+15% CER) o Underlying operating profit up 34% (+23% CER) o Underlying earnings per share up 24% o Interim dividend increased by 8% · Wide spread organic growth across both divisions o Group organic sales(3) up 9%; orders up 10% in both divisions o D&M(4) organic sales up 11% - now 57% of Group sales (H1 2016/17: 52%) o Custom Supply (previously known as Custom Distribution)(4) organic sales up 7% · Good progress on key strategic and performance targets o Underlying operating margin increased to 6.2% (H1 2016/17: 5.6 %) o Cross selling of £4.2m, more than doubled from last year (H1 2016/17: £1.9m) o ROCE(5) of 14.5%, up 2.8ppts on last year (H1 2016/17: 11.7%) o Operating cash flow(6) at 95% of underlying operating profit in the last 12 months · Recent acquisition, Variohm, performing well with strong sales and order growth · Group well positioned for further growth o Highest ever period end order book of £111m (+16% CER) o New project design wins increased by 30% to over £90m(7) o Acquisition opportunities developing · FTSE sector reclassification from Support Services to Electronics and Electrical Equipment effective 18 September 2017 reflecting the scale of our D&M business " |
Posted at 08/11/2017 10:28 by rivaldo Edison produced a report last month whilst I was on hols - it hasn't been posted here before, so FYI....The suggested 35% discount to peers implies that ACL should be trading at almost 500p, compared to the current 320p: "Acal Trading update Sustained uptick in orders drives upgrades Acal’s H118 trading update confirms that strong demand continued into Q218. Both divisions saw a positive trading environment in H1 resulting in group organic revenue growth of 9% y-o-y and group reported revenue growth of 21%. We have raised our revenue forecasts for FY18 and FY19 to reflect stronger trading, which results in upgrades to our normalised EPS forecasts of 3.8% in FY18 and 3.7% in FY19. In our view, the sustained improvement in demand is not reflected in the share price." "Valuation: Discount to peers has widened On an FY18e P/E of 15.4x and FY18e EV/EBITDA of 9.3x, the stock is trading at a c 35% discount to the peer group average for both multiples, compared to a 25% discount when we last wrote in July. The share was recently reclassified from Industrial Support Services to the Electronic & Electrical Equipment sector, and is trading at a c 30% discount to the new sector P/E. The strong order book, combined with good progress in the strategy to grow the Design & Manufacturing side of the business, provides confidence in both the near-term and longer-term outlook for the company. Continued growth in the proportion of revenue generated from design and manufacturing should support operating margin expansion, and should help to reduce the valuation discount. The stock is also supported by a dividend yield close to 3%." "Valuation After this upgrade, Acal is trading at a 35% discount to its peer group on current fiscal year EV/EBITDA and P/E multiples. This has widened from the 25% discount when we last wrote in July." |
Posted at 07/11/2017 13:49 by rivaldo Here's a couple of snippets from Finncap's note of 16th October.Note that at 319p, on their 25.2p EPS forecasts for the coming year starting 1/4/18, ACL are on a P/E of only 12.7: "In a positive H1 update, Acal has highlighted that trading has remained strong in Q2 and full-year earnings are now anticipated to be slightly ahead of management expectations. Our FY 2018E EPS forecast is 6% ahead of consensus and we leave our forecast of 19% EPS growth this year unchanged. Acal is set to report H1 organic sales growth of 9% supplemented by a further 6% from acquisitions and 6% from currency. With the short term P/E of 13.7x and dividend yield of 2.9% still attractive against the significant long-term market potential we remain positive on the shares." "Attractive valuation against long-term potential. We remain focused on the long-term potential for growth in a £20bn market, but the short-term metrics also remain attractive with a 13.7x P/E and 2.9% dividend yield. There is scope for us to increase our target price alongside our review of the results on 28 November." |
Posted at 02/11/2017 12:14 by rivaldo Looking set to push for new highs methinks.News - good to see ACL positioned for the Internet Of Things: "The programmable IoT gateway that sets a new standard for IoT embedded platforms The Sierra Wireless FX30 is the industry’s smallest, most rugged, programmable, cellular gatewayThe Sierra Wireless FX30 is the industry’s smallest, most rugged, programmable, cellular gateway. Providing a secure, integrated, embedded application environment, the FX30 enables swift, scalable, global deployments of IoT applications utilising the 3G/4G LTE network. The flexible expansion card slot enables the use of multiple local area technologies to connect machines and infrastructures to the Cloud. Acal BFi are uniquely positioned to embedded these technologies in the FX30 during the production process, providing you with a true plug-and-play solution. Acal BFi have teamed the new Sierra Wireless FX30 with the Acal BFi Environmental Sensor Platform to produce this demonstration video of this new cellular gateway. See how quick and easy it is to send data from a field based location to the Cloud using just the FX30 in our video below....." |
Posted at 09/10/2017 13:12 by rivaldo Cheers mfh - next Monday it is then.You prompted me to find the ACL investor calendar :o)) |
Posted at 26/7/2017 09:37 by rivaldo Not for long SoundBuy :o))Tipped again here.... "Two high-growth small-caps I’d buy to retire on Small-cap investing can be a bit of a hit or miss venture, but I believe looking to smaller stocks that are less frequently covered by analysts can unearth some great companies whose shares trade at bargain prices while offering phenomenal long-term capital appreciation prospects. And I think I’ve discovered two such under-the-radar options in speciality electronics manufacturer Acal (LSE: ACL).... Exploiting its niche with aplomb Acal started out as a pure distributor of speciality electronics for customers in sectors as varied as photonics, communications, magnetics and sensors. But after years of serving as a go-between for manufacturers and customers, it realised there were gaps in the market that it could fill with its own products. And thus the company’s design and manufacturing (D&M) segment was born. This part of the business now accounts for over half of all sales and is growing at a rapid clip through organic expansion and acquisitions. In the year to March, sales from this division grew 28% year-on-year (y/y) to £175.6m and accounted for over 80% of the group’s £20m in underlying operating profit. On top of growing faster than group overage, operating margins of 11.5% last year were more than triple that of the distribution side of the business. Now, the distribution business still has a role to play in gathering market intelligence, providing a reliable sales outlet for the groups in-house products and increasing cross-selling from its myriad manufacturing companies. And for investors like myself who prefer their small-caps profitable and with a healthy balance sheet, its relatively small £30m in net debt presents a very manageable sum. With a great record of organic and acquisition-led growth, rising margins and a respectable 2.8% dividend yield, I believe Acal is a great business trading at a very reasonable valuation of 13.7 times forward earnings." |
Posted at 25/7/2017 09:12 by 3rd eye Agreed Riv, meanwhile some interesting financials from Times Online premium service.Stock looks very cheap to me and will get cheaper after updates imo. nb, ACL Financial forecasts not yet updated after trading update this morning. Acal PLC FORECASTS 2018 2019 Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p) Numis Securities Ltd 24-07-17 BUY 21.20 20.90 8.76 23.70 23.30 9.02 Peel Hunt LLP 21-07-17 BUY 21.06 21.67 8.90 23.02 23.02 9.30 Edison 20-07-17 None 20.70 20.60 8.90 22.10 21.70 9.30 FinnCap 19-07-17 BUY 22.90 22.90 9.00 25.30 25.20 9.60 2018 2019 Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p) Consensus 20.98 21.29 8.90 23.36 23.16 9.30 1 Month Change 0.00 -0.01 0.00 0.00 0.00 0.00 3 Month Change 0.48 0.70 0.30 0.56 0.76 0.40 GROWTH 2017 (A) 2018 (E) 2019 (E) Norm. EPS 27.50% 25.41% 8.79% DPS 5.69% 8.94% 4.49% INVESTMENT RATIOS 2017 (A) 2018 (E) 2019 (E) EBITDA £23.60m £28.63m £30.52m EBIT £16.00m £25.00m £27.30m Dividend Yield 2.72% 2.97% 3.10% Dividend Cover 2.08x 2.39x 2.49x PER 17.67x 14.09x 12.95x PEG 0.64f 0.56f 1.47f Net Asset Value PS 30.52p |
Posted at 19/7/2017 14:01 by rivaldo Tipped..."2 hot value stocks for growth and dividend hunters By The Motley Fool 17 Jul 2017, 12:19 Investor appetite for Acal(LSE: ACL) shows no signs of slowing down. Just today the electronics play hit new record tops north of 300p per share, taking total gains during the past three months to 29%. This comes as little surprise as sales volumes accelerate and Acal banks the benefits of sterling's slide. The business saw revenues glide 18% higher in the year to March 2017, it advised last month, to £338.2m. On an organic basis revenues rose 6%, the small-cap witnessing improving sales and order growth as the year progressed. And Acal's record order book of £109m as of March -- up 22% at real exchange rates or 13% organically -- suggests that revenues should continue to pound higher. Profits hero It comes as little surprise that the City expects Acal's long-running growth history to continue with earnings rises of 8% in the years to March 2018 and 2019 respectively. As a consequence, Acal changes hands on a forward P/E ratio of just 14.1 times, falling comfortably within the widely-considered value territory of 15 times or under. This is striking value given Acal's improving momentum. Those seeking access to hot dividend growth dynamos need to give special attention to the Guildford firm too. Last year's 8.5p per share is anticipated to march to 9.3p in the present period, and to 9.7p during fiscal 2019. Subsequent dividend yields clock in at a very-handy 3.1% and 3.2% for this year and next. And I expect shareholder rewards to keep marching higher in line with profits." |
Posted at 29/6/2017 11:23 by rivaldo Looking at some figures issued by Finncap this week, the following are relevant comparator sector P/E's for this year and next year:Trifast : 17.5 falling to 17 Electrocomponents : 25.6 falling to 22.7 Diploma : 25.4 falling to 22.7 ACL are on a P/E of 14 falling to 12.9. ACL have a long way to rise from here to catch up. Not only that, ACL have by far the best dividend yield, at 3.1% against the other companies ranging from 1.6%-2.1%. |
Posted at 06/6/2017 10:20 by rivaldo Tipped here this morning - I think more acquisitions are on the cards rather than special dividends, but hey....Dobsey, the shares have had a good run, markets are volatile and some short-termers have taken profits. IMO the share price will soon gather steam and advance again: "Special dividend? Acal(LSE: ACL) is another company that has all the hallmarks of a top dividend play. Today the company announced its full-year results for the year ended 31 March 2017 showing strong growth across the board. Earnings per share rose 13% to 19.2p as underlying profit before tax rocketed higher to £17.2m, up from £14.5m in the year-ago period. Revenue grew by 18% or 6% at constant exchange rates. The best performing metric was the group's cash flow. Cash flow from operations increased 66% from £16.3m to £27.1m and the group's cash balance at the end of the period hit £22m, up from £20m at the end of the last fiscal year. This cash balance gives the company more than enough headroom to maintain its current dividend payout of 8.6p per share, which is costing around £5.2m per annum. Unfortunately, this kind of dividend security does not come cheap. Like Amino, shares in Acal trade at a relatively high forward earnings multiple of 15 times, but City analysts have pencilled-in earnings per share growth of 14% for the year ending 31 March 2018, so the high multiple is to some extent justified by growth. The shares support a dividend yield of 3%, and the payout is expected to grow by around 5% per annum for the foreseeable future. With such a healthy balance sheet I wouldn't rule out special dividends along the way as well." |
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