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ALU Alumasc Group Plc

172.50
-1.50 (-0.86%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Alumasc Group Plc LSE:ALU London Ordinary Share GB0000280353 ORD 12.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.50 -0.86% 172.50 170.00 175.00 174.00 172.50 174.00 18,644 09:00:05
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Construction Machinery & Eq 89.57M 6.6M 0.1844 9.35 61.77M
Alumasc Group Plc is listed in the Construction Machinery & Eq sector of the London Stock Exchange with ticker ALU. The last closing price for Alumasc was 174p. Over the last year, Alumasc shares have traded in a share price range of 133.00p to 189.00p.

Alumasc currently has 35,806,000 shares in issue. The market capitalisation of Alumasc is £61.77 million. Alumasc has a price to earnings ratio (PE ratio) of 9.35.

Alumasc Share Discussion Threads

Showing 201 to 224 of 975 messages
Chat Pages: Latest  15  14  13  12  11  10  9  8  7  6  5  4  Older
DateSubjectAuthorDiscuss
28/10/2010
07:41
Joined you guys today.

Heck 'Mug Punter', a name from the past !!

chester
28/10/2010
07:34
Breaking out through the 08 high today.

CR

cockneyrebel
28/10/2010
06:49
Yes very solid. Trading ahead and increasing every quarter by the sounds of it.
battlebus
28/10/2010
06:37
Well that sounds a very decent statement to me, especially regardinding building division.

I think they more than meet forecasts and pay that 10p divi for the year imo.

Peel Hunt forecasting 12.9p eps and an 11p divi next year - that's their most recent forecast from the end of Sep m- this will reinforce that imo.

CR

cockneyrebel
26/10/2010
20:46
Don't know about the trades except it's positive and the AGM is on the 28th so maybe a bullish outlook.
battlebus
21/10/2010
19:59
I struggle to like GHT with its history battlebus. We do seem to be buying a lot of similar stocks.

What do you make of all the volume in ALU of late? End of sep - 2x400k - gave this the biggest 2 day volume in 2 years.

I like the chart here, a huge shallow bowl that should be rather good when it breaks 128p.

I'm not expecting these to do ZTF but I do think they could surprise.

CR

cockneyrebel
21/10/2010
19:48
C.r. I've held these since the midas column tipped them at around £1 way back and see them as a divi play with slow growth if any. I don't expect a sharp rise in shareprice any day soon but a slow movement towards my target of £1.50 as recovery takes hold. The divi means i'm not bothered how long this might take. Check out GHT bought some this morning and expect a rally back to 40p. no tip intended..
battlebus
21/10/2010
18:06
Good luck anyway.

TD

the diddymen
21/10/2010
15:27
maybe - but perhaps they just couldn't bite the bullet to cost cut - it's hard sacking people in a boom. A recession might have allowed them or forced them - often acts like cutting back a plant for new wood to grow imo.

We'll see soon I guess.

CR

cockneyrebel
21/10/2010
14:25
CR

I suppose the point that I am making is that EPS in 2000 was 18.6p per share (It was higher in the 90s). They have had the strongest construction market known in the last decade, but despite this and only with a fair wind they might get to 20p (forecast 12p). There appears to be no ability to generate organic growth. Where historically they appear to be quite good, is hanging on, but that is not a strategy and it has left them in a position where they are at the behest of the general economy.

With CIU it is very transparent where the profit growth is coming from.

TD

the diddymen
21/10/2010
13:21
Hi Diddyment.

Yep, I take your point.

However, this co seems to be very keen to maintain that divi looking at theier history and the forecast. At 120p a share, even if they sliced it down to 8p it would still be a chunky yield.

Directors were buying shares a month ago, ahead of their IMS statement. If they were going to cut the divi I'd be surprised to see directors buying there.

Engineering and manufacturing has been picking up so demand for their product may be stronger. I know what yoy are saying about year on year performance dut do you not think they may have just been turning this one around as the 2007 banking crash happened and stymied their recovery?

They were doing nearly £10m pbt in 2008 on sales of £125m. in 07 they did £6.6m on £103m sales. They are forecast to do nearly 12p eps next year on £103m sales which would suggest they have done no cost savings in the past couple of years. That looks like they have scope to beat earning forecast if they just meet sales forecasts.

Any chance of them getting back to £125m sales might mean way over 20p eps. If you believe things are improving out there these look a good risk reward ISA play imo.

IMS statement on 29th Oct last year.

CR

cockneyrebel
21/10/2010
12:04
CR

I would not get too excited by this one. The yield has sustained the share price, but that yield is dependent on the business bouncing back - that just cannot be guaranteed. Look at the PBIT performance over the last decade; and very little has changed in the structure that has driven the PBIT. This stock is not actively traded (not much free float) and I would be very cautious here.

We seem to keep on coming across each other!

TD

the diddymen
20/10/2010
14:46
I've been buying these today.

Cracking yield and forecast to be maintained - while the building side might be slower the engineeering side looks to be going well and manufacturing data seems very good at the moment.

Interesting that the directors were buying in mid Sep too imo.

CR

cockneyrebel
05/10/2010
12:06
Not now, I invested some years ago and sold out profitably, but nothing remarkable. I keep an eye on them because I always follow up decisions. I have just taken a very nice rise in CIU, another company that I invested in many years ago.

TD

the diddymen
29/9/2010
06:35
diddymen, out of interest are you holding any ALU or not?
tuning peg
29/9/2010
06:26
I am not saying that the dividend will be reduced, all I am saying is that they are at the will of the economy. There is little organic growth potential in the business, and what there is could easily be off set by Precision Components or Dispense. My view is that you have to control the profit stream, within the context of the economy, and it is helpful to have growth to aid that control. The dividend will not survive a double dip, and given that the support for the share price has been the reliability of the dividend, then the implications are evident. I hope that they are able to maintain the dividend, but it has to be a risk that they will not.

TD

the diddymen
28/9/2010
08:05
The diddymen; If it were reduced--the divi--by how much do you think?
pojscott
27/9/2010
07:35
Tuning Peg/Pojscott

I think that the point that we have both made is that dividend maintenance relies heavily on a recovery in the commercial property market. Perhaps I am seeing the half empty element of the glass, but I prefer to invest in Companies which have more control over their dividend. For the record I have no problem with companies paying dividends from reserves

I equally agree that there seems to be more history than synergy in precision components and beer taps.

All businesses will be affected by recession but to my mind there are too many assumptions at ALU to ensure that the divi is maintained.

TD

the diddymen
21/9/2010
18:09
Up and down like a --------------- you know what???
pojscott
20/9/2010
14:04
Drops again, anyone got any comment?
pojscott
16/9/2010
18:07
Upwards and onwards!
pojscott
14/9/2010
07:40
Tuning peg; A good post--well informed--thanks for that.
pojscott
13/9/2010
20:48
Diddymen, you absolutely cannot infer that the dividend is under review from the text of the annual results - this is just speculation on your part.

It is also not a crime to pay divis out of reserves, they are after all shareholders funds that can be distributed, so if the company choses to do this they can hardly be criticised by us shareholders.

Importantly you need to look at the company's cash generation; cash from operating activities is c. £6.5m, equity divis paid are £3.6m. Divis, being a cash item seem to well covered by cash flowing out of the business.

If you are more interested in dividend cover as a ratio to EPS then this company has traded for the last few years well below the benchmark 2x coverage. E.g divi cover in 2007 was 1.22x, in 2008 1.83x, 2009 1.14x, 2010 0.72x and forecasted to rise to 1.19x next year. My point being that low coverage of the divi is very much the norm for this company and for reflects tight control of profit and cash generation.

Alumasc should recover as the commercial property market recovers. Due to the nature of their products and the installation schedule which falls towards the end of any construction project, they are a late cycle recovery play. I remain confident they can manage the dividend flow in the short term in the realisation that they'll see the benefit of the sustainable uptick in the commercial property sector when it happens.

Factor in also that this is a company which specialises in a niche sector (i.e. have pricing power), is well positioned for the obvious growth in "green" construction techniques and is looking to expand internationally on the back of the weakness in sterling, there are a good number of positives. The recent rally in the share price reflects all this.

I agree however that the composition of the company needs re-examing i.e. what is a precision engineering business and drinks dispensing business doing sitting alongside a building products business? What possible synergies can there be from combining these business in some sort of mini conglomerate? I suspect the company would happily sell Alumasc Precision and Alumasc Dispense if a bidder was to be found but this is very optimistic given current market conditions / squeeze on capital.

tuning peg
13/9/2010
17:47
Take your comments on board Diddy(Ken?)
One director owns a huge wad of shares. Well he would, wouldn't he?
I shall take profits in lieu of dividend.

gelp
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