Nice to see another jump north today. Still looks cheap on the 3 year chart. Hopefully there is more to come. |
Been running some numbers re: the retail mall design contract. 1.2m sq/ft say AED650m build cost & 4.5% arch fee = £6m. Current mcap £3.5m.....Lots of variables in here but as stated in RNS this is a significant contract for Aukett. I hold. |
I also think these are undervalued as a decent contrarian recovery play. I bought a few at 6p which i'm sitting on a substantial loss on and then more at 3p and a lot more at under 2.5p so today's new is welcome. These have to be cheap accross a full cycle surely?
They don't look like going bust with net cash in the bank either.
Arthur |
Dubai project win for Chinese client with revenues for three years that "provides valuable underpinning to the Board's view of next year's performance".
Good news from a company that seems to be priced as if it's all over; just over two times operating profit from a couple of years ago and a ptbv of about 1. |
https://bdaily.co.uk/articles/2017/10/02/london-architects-snapped-up-by-newcastle-s-ryderOngoing sector M&A. |
Thanks NC - that's the answer I was looking for and I appreciate you posting.
I'd also long thought AUK would either be bid from the outside or by mgt.....either would produce a decent gain from where we now sit. I'd be happy with the tp 7p mentioned
f |
Looking at the modest but recent uptick to the sp, then maybe the "rot has stopped" at the architect's, if you forgive the unintended pun.
The lowest ask on L2 is now 3.75p, although only 50k on show until the next layer of ask @ 4p, also 50k.
f |
Interesting to see this against what I hear on the ground |
 Intrigued as to their strategy to make acquisitions in the Middle East as the market there currently is very mixed. Middle East clients like to change their mind and not pay you and/or you get paid 2 yrs down the line when the client feels like it. Not good for cash flow. That said, all the big consultants operate in the ME area (other than Waterman who I was very pleased pulled out of that area) and weak sterling helps when repatriating currency.It will be interesting to see how else their diversity their income stream during 2017 and beyond, whether by offering other services such as environmental, acoustics and ground engineering etc which tend to offer higher margins.Why keep their loss making Russian operations?Architectural businesses such as Aukett don't have a great track record as listed companies as they can (without generalising too much) tend to be very low margin. Aukett does offer other services such as MEP and structures but their core business is architectural. Can they turn their larger more diversified business around? Well numbers for 2017 look to be pretty poor with the UK only likely to make a profit in H2 and noises about Brexit delaying projects. Management hold a large number of shares and should be motivated to get the business into better shape. |
Still made a profit. Got plenty of cash. Not ruled out paying a dividend. Now a bigger business that is more diversified geographically. Quality business with an excellent reputation. Hopefully Brexit impact is more about delays rather than cancellation. Perhaps further acquisitions or even an approach at this price? Plenty of reasons to be optimistic. I'm hanging on for now. |
On closer inspection here this morning I can see value of around 7p so have bought a few. Will try to attend the AGM in March and look forward to seeing some other investors there? |
Yes i'm surprised at the drop this morning, may buy some more. |
So on a PE of 6.8 with £1.8mill in cash? Hardly the worst results given it was over brexit. Silly drop and even more undervalued! Should bag from here |
Full year likely to be around 1mill profit before tax so on a PE of about 5. If a bullish update going forward with some good Middle East growth it should be back to 6-7p again |
Nice to see a comment after 4 months! This discussion board is about as active as the company's PR team...a few more updates from AUK on performance would be good. I agree this looks good value, I'm still holding in the hope of great things arriving at some point. |
Bought today. Too cheap with results due |
Yeah I think the recent buying is a hint trading is well. There is always insiders
as this stock is normally dead.
Having a day off today though 2 people have bailed out the mm's when they had zero
stock at the start. |
Yea that 50k was mine.
I sold my remaining original stake after the finals in Jan due to the poor outlook statement. I thought they gave a more upbeat outlook in the interims (Germany and Turkey) although the UK is obviously the key market.
Because of Brexit the jury is still out on the UK business but at 4.7p I believe there is value there in the medium term.
I also hold PEG so lets hope we can get the same return from AUK. |
They opened up limits briefly but somebody hit them for 50k back to 10k
at 4.75p.
Everything else is going mad at the moment, profitable value stocks like AUK might
catch up, look at PEG they have had a good run with similar fundamentals as AUK |
Bid/offer is quite wide......3.75/4.50....mid 4.12!! |
Big squeeze in progress 10k max available at 4.5p, been sustained buying for weeks
in this normally quiet stock so I wonder if next news is going to be very good ? |
Well, we're up a little today...hopefully the start of a trend northwards |
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