Andrews Sykes Share Discussion Threads

[keithfox] 03/6/2016 10:35

They have opened a few depots around Paris and I would imagine they will bring in pumps and driers from the UK as they won't be very busy here at the moment, same with the Low Countries and Milan. However, our aircon will start to get busy next week, so all in all looking good. Sympathies to all those badly affected on the Continent of course, but ASY can help out a bit.

[rhomboid] 03/6/2016 09:03

QP

hxxp://www.andrews-sykes.com/worldlocations/

Not sure what scale the French operation in Paris is , but I'm guessing they're busy.

[quepassa] 03/6/2016 08:53

Terrible floods in the Paris area and parts of Southern Germany.

Sympathies to all affected.

Does Sykes have coverage and depots in the affected areas please?

Thanks.

ALL IMO. DYOR.
QP

[keithfox] 02/6/2016 12:30

It's a while since I posted on the weather but It looks like some favourable stuff is possible. Well, the European floods will be giving the foreign depots something to do re pumps/driers etc. but as far as we are concerned it looks like some reasonably hot weather is due next week, and fairly widespread too so aircon should start to see some movement.

[cockerhoop] 13/5/2016 21:30

In fact looking back at this afternoons trades it appears that there were sales at 321 and a buy at 325 (also a 322.3 trade that i'm not sure about). You do though need to be patient and vigilant.

[cockerhoop] 13/5/2016 11:07

Get your point but you can currently get 334.7-317 electronically without even approaching a MM. Still too wide but there's virtually no free float.

[stemis] 13/5/2016 10:41

With a bid offer spread of 9% (335-305) though they are uninvestable at the moment...

[keithfox] 12/5/2016 06:47

Considering the price now includes and 12p dividend the 17.5p rise was a bit underwhelming really. Would hope for more rises to come in the next few days/weeks. Hold on there biscuit, due to the relative illiquidity on these shares they tend to rerate in a very short period of time. Yopu need to be patient to make sure you are on board when they go.

[bscuit] 11/5/2016 14:18

I have held for a number of years and am underwater having bought at 348, but the yield has sweetened the pain. The minority treatment contrasts well with others like say BPM. A hot summer would help as already said.

[keithfox] 11/5/2016 13:56

They've posted their results in May for as long as I can remember and that's 1997. Not a problem with me. Yes, they are definitely reliant on the weather and they have produced these results without the help of their most important division, air conditioning sales and rental in the UK. An improvement there and the results will be even better, they just need more than 1 or 2 weeks of warm weather in the summer which is what they've been rationed to in the last 3 or 4 years.

[cwa1] 11/5/2016 13:36

Thanks for that dave. Paul's views largely coincide with mine and I'm even willing to allow a little latitude on the time taken to produce results as long as they are good!

[thorpematt] 11/5/2016 13:27

I believe Paul doesn't post in ADVFN anymore? I think the BOO thread had something to do with that?

A shame because his analysis is ususally very sound.ASY of course is a very different proposition to BOO but they both sit very well in my portfolio for the foreseeable for very different reasons.

I agree with the general sentiment of a likely rise in stock price. Of course the divi is so tasty that an investment case can be made even without that.

[dave129] 11/5/2016 13:06

Hi -

This is the commentary on the numbers today on the Stockopedia site by Paul Scott.

Regards

Andrews Sykes (LON:ASY)
Share price: 310p (up 4.2% today)
No. shares: 42.3m
Market cap: £131.1m

Results y/e 31 Dec 2015 - it's ridiculous to be releasing 2015 results in mid-May 2016. What on earth is the FD thinking? I used to get audited results out in 6-7 weeks of the year end, for a similar sized (albeit private) business, in the 1990s. So this is very sloppy, in my view.

Having said that, the figures look terrific. This is such a good business, it's just a cash machine - churning out large free cashflows every year. 2015 appears to have been a very good year, with EPS up to 25.6p (2014: 22.0p). So at just over 300p, the shares are currently on a modest PER of just over 12.

Note that nearly all earnings were paid out in dividends.

It has net cash of £14.6m, and the balance sheet is excellent.

Outlook comments sound cautiously optimistic:

The group continues to face challenges in all of its geographical markets but our business remains strong, cash generative and well developed, with positive net funds. The mild and wet weather in Europe experienced in the fourth quarter of 2015 continued into the first quarter of 2016, thereby presenting both opportunities and challenges. Our business in the Middle East continues to perform well but we are mindful of the current political and economic issues that surround the region. The board is therefore cautiously optimistic for further success in 2016, always being mindful of the favourable or adverse impact that the weather can have on our business.
There is some talk of investing in new products which are less weather-dependent, but I think it's best to regard ASY as a mature company, which is a terrific cash cow.

My opinion - this is a lovely business, and very reasonably-priced. So there's a good chance of a significant re-rating, in my view, up to perhaps 400p?

Bear in mind the unusual ownership structure, with only a small free float, which some investors don't like. Although the majority shareholder has looked after minorities well to date, with generous divis for example.

[cwa1] 11/5/2016 09:09

Morning

Happy enough with these on a quick first glance. Would be nice to see a steadily improving price on the back of it though.

[keithfox] 11/5/2016 07:25

Yup, that makes good reading and the shares should see 350p in the coming few weeks. A hot summer would be nice though!

[quepassa] 11/5/2016 07:10

Good results all round. Well done ASY.

Thanks for maintaining dividend.

Encouraging outlook of cautious optimism.

Investing in new tech and growing the business.



ALL IMO. DYOR.
QP

[keithfox] 06/5/2016 18:26

Unusual to see £30k worth go through just before the results.....wonder if anything IS afoot?

[cockerhoop] 06/5/2016 10:43

LSC results were on time, so perhaps you're correct :-)

[keithfox] 06/5/2016 10:32

That was due to something to do with the pension fund and borrowing money if I remember rightly. Yes, they have until the end of June to post but I prefer boring old normality. Perhaps they are finalising takeover talks!

[cockerhoop] 06/5/2016 07:30

You have to go back to 2009 (when they were delayed until 17th June)

[keithfox] 06/5/2016 07:18

They normally announce first week of May, don't think I've ever seen them later than 6th May. Looks like next week now, perhaps he's in Barbados or Southend.

[ignoble] 03/5/2016 08:58

Aye ,cant be far away

[cockerhoop] 02/5/2016 16:21

Good chance of results this week i'd imagine.

[keithfox] 05/4/2016 18:54

Sometimes it's not too bad. but seems to be in a nervous pre-results phase at the moment. Results should be OK I'm thinking, but you never know.