Avon Protection Share Discussion Threads

[jimmygee2] 03/4/2018 14:48

It's so close, I can smell the breakout

[jeffian] 16/3/2018 09:01

Aye, when Armageddon comes we can burn our share certificates to keep warm in the nuclear winter!

[9degrees] 16/3/2018 08:58

avon could do well supplying gas masks in the upcoming Cold war

[jeffian] 13/3/2018 08:59

Thank you, Jo Moore.

[18bt] 13/3/2018 08:03

Good background to a capital markets event today and the subject matter to be covered.

[tdog1975] 09/3/2018 12:34

Will it break out today, it's trying and a plus 13 finish is on the cards

[9degrees] 08/3/2018 09:26

are those Avon masks being used in Salisbury for the nerve agent attack on the Russians ?

[grecian1] 16/2/2018 11:23

Mm probably have a big order to fill trying to rattle people. Saw a similar things last time what big us defence contract awarded. Soon crept up to 1300p

[martinthebrave] 16/2/2018 09:38

Almost back towards the early January lows. I would expect it to bounce from there but any close below 1160p would be a concern. Fundamentals seem strong.

[startshare] 16/2/2018 09:08

Don't understand the recent drop!

[grecian1] 05/2/2018 10:33

What's going on here? Big drop in price, do we think they are filling a ii order?

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[jeffian] 18/1/2018 17:52

But the key word there is "translational" (that is, the effect of converting $ earnings to £ for statutory reporting purposes). As long as both costs and revenues are incurred in the same currency and cash profits are not actually converted to £ and returned to UK, then profitability is unaffected.

[mammyoko] 18/1/2018 17:17

Would be careful of the currency impact here. The latest annual accounts state 'The Group has translational exposure arising on the consolidation of overseas company results into Sterling. Based on the current mix of currency denominated profit, a five cents appreciation of the US Dollar increases revenue by approximately £5.0m and operating profit by approximately £0.7m. A five cents appreciation of the Euro increases revenue by approximately £0.5m and operating profit by approximately £0.1m.' The dollar has fallen by about 5c since the end of the previous financial year implying a £5m revenue headwind and a £0.7m hit to the bottom line.

[valuehustle] 14/12/2017 19:56

Hi All, Long time viewer, firat time caller. Aiming to be a long yerm holder here. Have calculated fair value at to £14.04 to £19.14. Excellent looking company. hTTps://twitter.com/valuehustle/status/937741294264299520

[tdog1975] 13/12/2017 17:42

Lovely finish, maintain tomorrow for a mini push Friday

[mattboxy] 11/12/2017 13:38

Sshhhhh! Quietly breaking out!

[mattboxy] 06/12/2017 07:51

AVON RUBBER p.l.c.US Department of Defense Mask Systems OrderAvon Rubber p.l.c. is pleased to announce the receipt of an order for 53,000 M50 mask systems worth $14.3m from the US Department of Defense ("DoD").This order together with the closing order book of 49,000 mask systems as at 30 September 2017, secures the anticipated sales of M50 mask systems to the DoD for our 2018 financial year.

[robow] 24/11/2017 15:43

Phil Oakley gives it a good write up in his weekly column for Sharepad today

[grecian1] 16/11/2017 10:00

I thought there would be a lot more interest in this given the results!?

[mattboxy] 15/11/2017 14:21

A 40p dividend would cost £12.4m which would be easily covered by cash in hand..

[jeffian] 15/11/2017 12:50

I don't disagree about acquisitions - although they appear to have nothing specific in mind at the moment - but I'm dead against share buybacks which, in my experience, use real hard cash to buy some theoretical gain which is rarely accessible to shareholders by an equivalent increase in the share price. However, my point is that at the moment they just seem to be hoarding cash at an increasing rate. If you have a "policy" of a 2x covered dividend, what is the point of having a 7x covered dividend and dribbling out the increases over 5 years?!

[fredfishcake] 15/11/2017 11:21

I'd rather have a large special divi if they don't find a sensible acquisition in the near future, and an immediate increase in the basic divi. I'd imagine they'd be able to fund any acquisition via borrowing with their cashflow at present.

I'm with Jeffian on this.

[9degrees] 15/11/2017 10:40

I would rather have less divi but see them make some sensible acquisitions

[jeffian] 15/11/2017 10:34

Yes, all good but I still think they're being penny-pinching with the divi.

"Our policy is to maintain dividend cover (the ratio of dividend per share to adjusted earnings per share) above two times. This year dividend cover was 6.7 times (2016: 7.6 times). Once dividend cover has reduced to two times we intend to increase dividends in line with the growth in adjusted earnings per share."

Even after a 30% rise, the yield has just crept over 1% while they pile up cash at an ever-increasing rate. Even if they go on increasing the divi at 30% per annum, it would take 5 years to get to their targeted 2x cover, even without any increase in adjusted eps. A 40p div (i.e. over 2x cover) would still only give a yield around 3.7%. I just don't see the point in 'rationing' the increases if that's where we're going anyway!