Bioquell Share Discussion Threads

[topvest] 09/9/2013 18:34

Anyone think they might demerge TRAC at some point? With two separate divisions, I would have thought that it has to be a possibility at some point.

[bbluesky] 09/9/2013 18:30

Start of a major move imo. The ship has been turning over the last couple of years and the results confirmed the success and prospects of the strategy. This is a very sophisticated, cash rich company that should have a very bright and long term future. TRAC has cornered a market and continues to sink its teeth in deeper and earnings are v visible. The bio side could explode on the upside in the next few years as pharma has recognised it, but cyclical, the hospital side still waits for take off, not just here. As infection rates become more public and not hushed, hushed, as is the case now,( presumably the privates will lead) it will become the equivalent of an Ofsted score. As Mach100 points out decent divi (and well covered). Continue to be happy to be patient, but I think we are on the move(finally!)

[apad] 04/9/2013 12:37

DPH might be showing a similar pattern.
apad

[bountyhunter] 04/9/2013 11:52

cheers Mach, yes it's been quite a wait here

[mach100] 03/9/2013 17:36

These are starting to take off bounty. Up 18p since the 16th of August. The results last week seem to have escaped mot people's radar. I like the cost cutting and focus on high margin business. Revenues up 10% and has paid a year end divi of 3p for the last two years. Hope there is reward for longterm holders.

[bountyhunter] 02/9/2013 17:47

nice rise today! ...not sure what prompted it all of a sudden though

[apad] 21/6/2013 15:31

....which seems to have prompted several very large sales. Didn't know I had so much negative influence!
apad

[apad] 21/6/2013 12:33

increased at 134.5.
price seems to have settled.
apad

[bbluesky] 12/6/2013 14:05

Pinkie it is like a big ship turning, the business has been in many ways transformed over the last couple of years and in my view at the start of full steam ahead and I think the mid year results will confirm this and draw attention to it. In the meantime, there is no momentum in the share price. There is a lot to like in the fundamentals and particularly as margins, profits etc are gaining momentum. Cash rich too.

[pinkie] 11/6/2013 10:53

Anyone have a clue why this stock is where it is?
I was under the impression that Investec had raised their target price somewhere nearer to £2

[bbluesky] 05/6/2013 07:51

ex div today

[apad] 26/5/2013 06:59

No job vacancies - consistent with job cuts and restructuring costs.
PE a bit high for a tiddler that is doing restructuring, which possibly explains the current PI selling.
Still soft US military market.
No date for interims yet.
Holding.
Expect the price to drift.
Looking to buy at, say, 140p.
apad

[birdsedgeuk] 15/5/2013 20:05

Seen on site stirred up an interest in bqeWww.traderdiary.co.uk

[bbluesky] 14/5/2013 21:27

TV saving £1.2m a year at a short term cost of £0.7m looks good business to me!

[topvest] 14/5/2013 17:41

Yes, looks good except for the restructuring costs.

[woodcutter] 14/5/2013 14:46

added quite a few more today

[bbluesky] 13/5/2013 06:38

Excellent Interim Management Statement out. Accelerating the repositioning on the back of strong demand, with margins set to improve.

[apad] 07/5/2013 07:00

Statement on 13 May.
Woody, I don't think this company really does R&D in the conventional sense of the word. I think this is pure product development in a move to customers buying consumables from the company. It'll be a pure tax decision as you surmise.
apad

[woodcutter] 03/5/2013 13:59

nice quiet board too unlike the asylum at COMS

[woodcutter] 03/5/2013 13:43

This came up on one of my filters and i bought in today. It might seem expensive but i think there are a number of salient points that recommend it as a buy imv.

Strong balance sheet and cash flow too.

Seemingly good product development as well.

Some points worth noting from the last results:

The operating margin in the TRaC division is twice that of the Bio Decon Division and TRaC is growing at a faster rate of revenue. Op Profit margin TRac 20% Bio 10%.

New range of products in Bio and customer interest improving and markets expanding into healthcare so future revenue growth looks interesting.

I would hope future R&D spend is less now the new range of products is completed. £2.6m of R&D and Engineering costs written off to P&L but £3.75m capitalised on balance sheet. Haven't looked back yet at capitalisation of development but if this is an annual event would prefer to see more on the P&L.
I guess it needs to be balanced with the tax advantages.

It's throwing off cash at the operating level.

Looking forward to the divi too. Covered 3 times

One to lock away and top up on dips

Woody

[apad] 03/5/2013 07:53

FWIW, increasing in small amounts in this quiet period. 140/141 seems decent value for the cash flow iff the end of the capital spend is in sight and the civil coping with lumpy military continues.
Does anyone have an estimate of the next rns date?
apad

[bbluesky] 14/4/2013 18:41

Tv I had wondered that in the past, but following the last financial report, it seems that TRAC is moving into the Bio side, which is requiring more and more testing. This looks a very attractive aspect to me and enhances BQE's blue chip reputation in the field. I think some spreadsheet investors have pretty much missed what is going on here, as the figures are coloured by the unpredictablity of the defence contracts. What is going on internally and in the different divisions seems to me the foundations of many years significant growth. I recommend a close reading of the financial report with the eye that this is a company that does not beat the drum and is old fashioned in believing that seeing is believing in terms of what they do. The Bioxyquell wound treatment alone would for some be enough to raise money on AIM and list. Cash rich, so an acquisition is always a possibility, growing divi policy currently 2.08% yield. 5th June ex date.

[topvest] 14/4/2013 14:53

Does anyone else think that BQE may end up demerging its TRAC division at some point to create two more focused businesses?

Alternatively, Harwood Capital have also got a couple of similar businesses in their portfolio that they are looking to sell, so BQE could go a separate way and add a third division I suppose.

[bbluesky] 27/3/2013 19:00

First shoots of Spring? [Not pumping! Put it into an ISA today, which costs, so here for the long run.]

[bbluesky] 19/3/2013 18:10

I appreciate it's poor form to self quote, but..15 Jan #596.."Usual understatement, TRaC is going gangbusters". And it continues to, building up a very significant business and to my mind giving BQE a further regulatory tick which will make it the bluest of blue chips and are we seeing the beginning of significant branding, which will add serious points onto the pe (as will their less volatile more visible earnings).