Andrews Sykes Share Discussion Threads

[cwa1] 31/5/2023 08:09

I don't think L2 is particularly instructive for these MM only stocks but FWIW:-

Time MMID Size Bid
7:58:02 AM PEEL 200 560.00
7:46:00 AM WINS 250 550.00
7:50:50 AM SING 200 540.00
7:55:16 AM ZEUZ 200 530.00

Ask Size MMID Time
600.00 250 WINS 7:46:00 AM
600.00 200 SING 7:50:50 AM
600.00 200 PEEL 7:58:02 AM
630.00 200 ZEUZ 7:55:16 AM

Apologies if formatting is screwed up but hopefully you get the gist of it

[zangdook] 31/5/2023 07:48

Does anyone have level 2? It might be interesting to see how much is actually on offer.

The main shareholder has over 86% so small buys can have a seemingly disproportionate effect.

[cwa1] 31/5/2023 07:40

Another minuscule share buyback announced(2700 @ 543p)...

[cwa1] 30/5/2023 15:48

On the move this afternoon, anyone know why?

[cwa1] 25/5/2023 08:17

Ex a 14p dividend this morning, pay day is 16/6

[thorpematt] 04/5/2023 17:49

gopher,

It is with some of us!

BUT the serious answer is: it is the lack of free float.

[gopher] 03/5/2023 22:31

I don't understand why AS is not more popular with private investors

[cockerhoop] 03/5/2023 08:53

Yep, record results even with the £1.9m provision for bad debts in the Middle East which they suggest will not reoccur in 2023. Pension contributions also reduced going forwards.

[adeg] 03/5/2023 08:35

Great set of results, no debt, cash balance increased, record profits, 12% increase in final dividend to 14p.

[cockerhoop] 19/1/2023 20:49

That's the normal modus operandi.

[c3479z] 19/1/2023 20:18

can we expect no further comment from the company until May on how it's doing?

[cwa1] 19/1/2023 08:08

No real import...but for the record...

19 January 2023

ANDREWS SYKES GROUP PLC

("Andrews Sykes")

Change of Broker

Andrews Sykes (AIM: ASY) announces the appointment of Zeus Capital Limited as its Broker, with immediate effect. This follows the completion of the acquisition of Arden Partners plc by Zeus Group Limited on 16 January 2023.

[cwa1] 16/1/2023 07:35

From the ASY blog:-



UK

We knew last month had been a good one, but it has since come to light that it was our best December on record from a revenue perspective!

[cwa1] 06/10/2022 08:42

Ex the interim AND special today. Pay day 4/11

[thorpematt] 28/9/2022 10:01

Operationaly there were a fair few challenges there. I suspect the employment situation will ease in the UK soon. Apprenctice scheme should assist mid-term.

But the way this thing spins off cash is remarkable. The Y-O-Y comparisons for cash inflows, loan reductions etc. Even the pension surplus got significantly bigger!

As ever it's the total return over time that matters here. Not many companies paying special divis ATM


"In addition to the interim dividend, the board has assessed the company's ongoing cash requirements and has concluded that, as a result of the company's robust cash generation, a portion of the current cash reserves are surplus to the company's requirements. The board has therefore decided to return this surplus capital to Andrews Sykes shareholders by way of a special dividend of 16.60 pence per ordinary share which in total amounts to GBP7.0 million. Both the interim and special dividends will be paid on 4 November 2022 to shareholders on the register as at 7 October 2022. "

[cwa1] 28/9/2022 07:31

Half year results...



Overview



The Group's revenue for the 6 months ended 30 June 2022 (the "period") was £37.9 million, an increase of £2.2 million compared with the same period in 2021 and a record for the first half year. Operating profit for the period was £8.5 million compared with £8.0 million in 2021, an increase of £0.5 million, reflecting the increased revenue. Overall, net funds increased by £5.2 million from £16.5 million as at 31 December 2021 to £21.7 million as at 30 June 2022 .



Operations review



Revenue at Andrews Sykes Hire in the UK continues to grow and improved by 2.1% compared with the same period in 2021. Our businesses in the rest of Europe experienced a very strong increase in revenue, improving 16.8% compared to the same period in 2021. This result was driven by an exceptional performance from our Italian subsidiary, Nolo Climat, with revenues 92.9% up on the same period in 2021 with the early and prolonged high summer temperatures seen in Italy increasing demand in our cooling products. Consequently, the combined operating profit for the UK and European hire businesses in the period was £1.0 million above the level achieved in 2021.



Climat Location in France has continued to struggle with revenues 12.0% lower than the same period in 2021. As a result, the decision has been made to restructure the business in France and restructuring costs, including depot closures and redundancy, of £0.5m have been incurred during the period. We are confident that once completed, the restructuring will right-size the French operation and lead to profitable future growth.



Andrews Air Conditioning and Refrigeration, our UK air conditioning installation business, has traded broadly in line with last year. Whilst revenue increased 3.7% in the period compared to the first six months of 2021, it still remains 33.1% lower than the corresponding period in 2019. Operating profit decreased by £0.1m as compared to first half of 2021 as a continuing struggle to recruit and retain engineers negatively impacted results.



Khansaheb Sykes, our business based in the UAE, has continued to experience a difficult trading environment but pleasingly recorded revenue growth of 5.8% versus the first half of 2021. Despite this revenue increase and a favourable exchange rate between the Dirham and Sterling, operating profit is comparable to the first half of 2021 and continues to be depressed by increased historic bad debt charges.



Profit for the financial period and Earnings per Share



Profit before tax for the period was £8.5 million compared with £7.6 million in the same period last year. This £0.9m increase is attributable to the £0.5 million improvement in operating profit, a net foreign exchange gain on inter-company balances of £0.2 million (2021: loss of £0.1m) due to the weakening of Sterling compared with the Euro, and a net increase of £0.1 million in interest receivable resulting from the full repayment of the £3.0 million loan outstanding as at 31 December 2021 and higher interest received on cash deposits.



The total tax charge for the period increased by £0.7 million to £2.1 million (2021: £1.3 million), an effective tax rate of 24.0% (2021: 17.5%). The increase in the overall effective rate of tax is driven by a lower level of capital allowances claimed in the UK, coupled with higher profits generated in Italy which has a higher tax rate than in the UK.



Profit after tax in the period was £6.5 million (2021: £6.2 million). Basic earnings per share increased by 0.57 pence, or 3.9%, to 15.36 pence (2021: 14.79 pence) reflecting this increase in profit .



Dividends



The final dividend of 12.50 pence per ordinary share for the year ended 31 December 2021 was approved by members at the AGM held on 14 June 2022. Accordingly, on 17 June 2022 the Company made a total dividend payment of £5.27 million which was paid to shareholders on the register as at 27 May 2022.



The board continues to adopt the policy of returning value to shareholders whenever possible. The Group remains profitable, cash generative and financially strong. Accordingly, the board has decided to declare an interim dividend of 11.90 pence per ordinary share which in total amounts to £5.0 million.



In addition to the interim dividend, the board has assessed the company's ongoing cash requirements and has concluded that, as a result of the company's robust cash generation, a portion of the current cash reserves are surplus to the company's requirements. The board has therefore decided to return this surplus capital to Andrews Sykes shareholders by way of a special dividend of 16.60 pence per ordinary share which in total amounts to £7.0 million. Both the interim and special dividends will be paid on 4 November 2022 to shareholders on the register as at 7 October 2022.



Outlook



The second half of the year has started resiliently with record temperatures in the UK and Europe positively impacting demand for the Group's air conditioning units and chillers. This increased summer demand leads management to be optimistic over the full year results. In the longer term, management remains optimistic that the business will continue to improve but are mindful of the current economic climate and the impact that heightened energy prices, inflation and recession risk can pose to the business and customer demand.







JG Murray

Chairman

27 September 2022

[pireric] 18/8/2022 21:55

Well picked up by @miserlyinvestor on twitter, ASY revealing three new products to their line-up tomorrow morning. I imagine them to be improved variants to add to existing ranges, tracking their blogs over recent weeks. But a quarter ounce of excitement in the world of Andrews Sykes

"What could be better than launching a new product on a Friday morning? How about 𝐭𝐡𝐫𝐞9838; new products?!

Keep your eyes peeled tomorrow!"



Eric

[solooiler] 18/8/2022 08:07

think of all the dehumidifiers
Now we are going to bake again. Express news
UK hot weather RETURNS: Mercury to push 30C as Britain braces for bank holiday sizzler
TEMPERATURES are expected to soar again over the coming days up to the "high-20s" and potentially even hitting 30C degrees, in another scorching heatwave around the August bank holiday.

[thorpematt] 17/8/2022 20:20

Yes it's like a chapter from the bible. First there was the heat, then the floods: -



Half year results about 6 weeks away, could be interesting!

[solooiler] 16/8/2022 17:48

Floods everywhere after boiling summer
Multi year technical chart breakout
Cheap for the quality
650-750 pence target value on new breakout on an assumption of 45p eps and £29M cash
👀

[cwa1] 16/8/2022 17:11

Hello. Mild excitement at the end of the day there?!

[solooiler] 15/8/2022 08:10

Haha! On the news they are saying we have baking heat today and now we may even have floods because the ground is too dry and cannot absord thunderstorms 💸

[cwa1] 12/8/2022 08:43

If it wasn't for all those free fans they're giving out we'd be rich ;-)

[solooiler] 12/8/2022 08:37

It's boiling 🥵 and this could be ASYs best summer for a decade. I grabbed one of their paper fans when crossing London Bridge early this week (they were handing them out) and by the sounds of things their phones must be ringing off the hook. This stock should be at least 650p.

[solooiler] 08/8/2022 10:10

‘Prolonged’ heatwave on its way by end of week with temperatures hitting 35°C