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Share Name Share Symbol Market Type Share ISIN Share Description
Andrews Sykes Group Plc LSE:ASY London Ordinary Share GB0002684552 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -7.50 -1.47% 502.50 26 08:30:25
Bid Price Offer Price High Price Low Price Open Price
490.00 515.00 510.00 502.50 510.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 75.22 19.50 36.85 13.6 212
Last Trade Time Trade Type Trade Size Trade Price Currency
15:02:57 O 9 515.00 GBX

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Posted at 04/2/2023 08:20 by Andrews Sykes Daily Update
Andrews Sykes Group Plc is listed in the Support Services sector of the London Stock Exchange with ticker ASY. The last closing price for Andrews Sykes was 510p.
Andrews Sykes Group Plc has a 4 week average price of 480p and a 12 week average price of 455p.
The 1 year high share price is 555p while the 1 year low share price is currently 455p.
There are currently 42,262,082 shares in issue and the average daily traded volume is 663 shares. The market capitalisation of Andrews Sykes Group Plc is £212,366,962.05.
Posted at 19/1/2023 08:08 by cwa1
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.

Posted at 16/1/2023 07:35 by cwa1
From the ASY blog:-

https://www.andrews-sykes.com/blog/whats-been-happening-in-europe-this-month-2/

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!

Posted at 28/9/2022 09:01 by thorpematt
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. "

Posted at 28/9/2022 06:31 by cwa1
Half year results...

https://www.investegate.co.uk/andrews-sykes-group--asy-/rns/half-year-results/202209280700078968A/

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

Posted at 18/8/2022 20:55 by pireric
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 𝐭𝐡𝐫𝐞 9838; new products?!

Keep your eyes peeled tomorrow!"

https://twitter.com/AndrewsSykes/status/1560263825777397766

Eric

Posted at 28/7/2022 18:37 by pireric
I think Andrews Sykes' management's internal budgets for 2022 are for at least ~7% revenue growth (as a lower bound), with those expectations potentially set back in March

It's quite rare to be able to glean some insight on internal budgeting in an annual report, but since the new CFO has been in place, that has been possible with ASY. Credit to anyone here who has spotted this, because it's quite obscure. But since ASY never give any guidance it could be more useful than normal.

2021 potential budget - If you look at the annual report for 2020 that was published in May 2021 they set out a reasonable worst case trading scenario for 2021 in the going concern section of the report. One of the conclusions from that was that such a reasonable worst case scenario for 2021 would involve revenue between March 2021 and May 2022 being reduced by over £15m when compared to their budget. One of the key conclusions of this stress test was that they still expected (back in March 2021 when the section was probably written) that "group turnover for the 12 months ending 31 December 2021 is forecast to be comparable but above the 31 December 2020 figures." That makes sense to me; 2020 was not a great year with covid, and even a reasonable worst case scenario would see 2021 revenues higher than 2020. Backsolving and making some assumptions, that internal budget from March 2021 makes broad sense.

2022 potential budget - What I find far more interesting is this year's reasonable worst case scenario stress testing. The stress test this time is that "hire turnover and product sales reduce by 12% versus budget" (I'm pretty sure for March 2022-May 2023). If that assumption is made, the conclusion is that "group turnover for the 12 months ending 31 December 2022 is forecast to be comparable to the 31 December 2021 figures." To me, that is very interesting; if I crack the maths on that, at the low end of the spectrum and saying -2% still equals 'comparable' I think it implies that the internal budget is for at minimum 7% odd growth for 2022 in the central non worst case scenario (2 months of performance wil have been banked at the time of writing). Where comparable means 0%, you get to central scenario growth being much closer to 10%.

If any of this proves right, it should mean ASY are on for a record year of revenues in 2022 and it should kick the perception of some investors that this is not a growing business. This seems a nice setup with the stock back at the low side of its multi year range. I would stress again that these implications seem to have been likely to have been made in March 2022, prior to the hot Summer we have had so far in Europe.

Eric

Posted at 04/5/2022 09:57 by thorpematt
Very solid.

I don't quite understand the share price fall here really. But its illiquid so not really an efficient market. I did buy a few more of these earlier in the year. I have no intention of selling any into the marlet anytime soon.

Posted at 04/5/2022 06:47 by cwa1
https://www.investegate.co.uk/andrews-sykes-group--asy-/rns/preliminary-results-2021/202205040700021181K/

"Overview and outlook

Andrews Sykes' trading has recovered strongly after the unprecedented challenge posed by the coronavirus pandemic.

We are thankful and proud of our team members who responded as essential service providers throughout the various stages of the pandemic. The wellbeing of our employees and business partners has always been of paramount importance as we adhered to the various local government guidelines which evolved throughout 2020 and 2021. Our priority of keeping our operations safe for customers, employees, and business partners has allowed Andrews Sykes to weather hopefully the worst of the pandemic and still produce strong financial results for shareholders.

Despite these unprecedented circumstances, we are encouraged how the business has constantly adapted to overcome operational issues and explore new revenue opportunities which have arisen through various avenues such as the supporting of COVID testing and vaccinations stations. The group has also achieved a rebound in revenues from our core traditional markets of "comfort" cooling and heating despite various lockdowns and 'stay at home' guidance being in effect at multiple different times throughout the year.

This year was once again supported by another strong year for our UK pump hire business, which finished the year 16% up on the previous year's revenue and continues the recent history of setting record levels of revenue yearly.

The group is confident in its core markets, its revenues and its profits."

Posted at 17/4/2022 16:13 by tmfmayn
ANDREWS SYKES: Better-Than-Expected H1 2021 Witnesses European Sales Rebound 29% As Net Cash Reaches £22m And Potential Dividend Yield Hits 5% #ASY

"a possible 13.5x multiple hardly seems expensive for a high-margin and cash-rich business that proved reasonably resilient during the pandemic and may have further expansion opportunities within Europe.".

hTTps://maynardpaton.com/2022/03/07/andrews-sykes-better-than-expected-h1-2021-witnesses-european-sales-rebound-29-as-net-cash-reaches-22m-and-potential-dividend-yield-hits-5/

Posted at 09/11/2021 03:09 by mg1982
Since summer 2017 ASY has been in a consolidation phase. They need a catalyst to get a move higher. I can't see that, what do people think will be the inflection point now? thanks
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