Carclo Share Discussion Threads

[queenbreguet] 15/8/2024 14:51

Two year high

[beeezzz] 13/8/2024 09:12

1gw - Thanks, any idea who the customer was....

Which means operating margins thinner than in previous years..

22 - 6.93%
23 - 0.86%
24 - 1.35%

[mesquida] 13/8/2024 08:42

Nice re-trace after such a sharp rise, next leg- up looks to be starting.

[1gw] 10/8/2024 08:31

In terms of the cancelled order, I think we know the cost don't we: £0.9m in FY23 and £0.2m in FY24. This is net of £0.7m compensation received.

In FY23 annual report (Note 9):

"On 30 May 2023, the Group signed a full and final settlement agreement with a leading global OEM customer. Due to a contraction in the end-market demand for COVID-19 testing, they would not be proceeding into the production phase of the project, see note 34. Receiving notice in December 2022 was deemed by management to be an event that might be an indicator of impairment at 31 March 2023. An impairment review was undertaken, with final settlement providing evidence that impairment existed. As a result, the Group has recognised a £0.9 million impairment for: a £0.3 million inventory provision, £0.5 million fixed asset impairment and £0.1 million other costs in the income statement in the year to 31 March 2023. The Group expects to recognise an exceptional gain in the income statement to 31 March 2024 of approximately £0.6 million."

So in FY23 AR, they recognised £0.9m impairment and expected £0.6m gain from the settlement concluded in FY24. But by FY24 annual report (Note 8), there were further costs to account for, meaning a net additional £0.2m cost instead of the anticipated £0.6m gain:

"£0.2m net costs arising from cancellation of future supply agreement relate to the OEM customer who gave notice in December 2022. This includes £0.9m asset impairment (see note 14), £0.2m loss on disposal of other related ancillary equipment, less £0.7m being a credit recognised in the current year for final settlement received."

and Note 14 explaining the further impairment:

"The impairment to plant and equipment of £1.9m includes £0.9m in respect to assets obtained for production on a leading global OEM customer who in December 2022 gave notice that they would not be proceeding into the production phase of their project. Whilst an impairment of £0.5m was recognised in the prior year, it was decided by management at 30 September 2023 that as the assets remained on balance sheet with no intended use, they should be impaired to recoverable amount, being fair value, less costs to dispose. A further impairment was recognised at the interim reporting date of £0.9m and there has been no change to this assessment of recoverable amount at 31 March 2024."

[beeezzz] 08/8/2024 14:12

Wish I had sold @70p, a false dawn, still no information regarding compensation from cancelled order, which could have just covered costs, who knows.

Jealous Mes, my profit price was 32p so did try and make a small profit for the time I've have held Carclo. A return I'm not proud of...

[mesquida] 08/8/2024 13:55

And beeezzz just happened to sell at the best price this year,how predictable !

[ali47fish] 08/8/2024 12:13

can someone with knowledge of the company please comment on the mid/long term outlook here or attach link from a reliable source providing an analysis- many thanks

[wigwammer] 08/8/2024 08:26

In which case, I just feel sorry for anyone who has acted on all your negativity over the last year or so, and sold at the lows. You have been a total liability. Best wishes with whatever you do with your (alleged) profits.

[beeezzz] 08/8/2024 08:11

Not me, sold @34p in profit...been in since 2009, experienced the highs and the low, + suspension....haha

[wigwammer] 08/8/2024 07:45

Hmm.. Spot the guy who sold near the lows.

[beeezzz] 07/8/2024 16:05

12% spread, obviously MM don't want to hold, or they already have too many.

Fundamentals have not changed...

[mesquida] 07/8/2024 08:06

Imjustdandy, I guess that you probably have not been invested here for long ? Fact is that Schroders have been on the Register for years . But, yes, they certainly have recently added to what was already a sizeable holding.

[wigwammer] 07/8/2024 08:06

Well said, mesquida.

[imjustdandy] 07/8/2024 06:26

Madness - clearly regretting selling now Schroders have arrived.

[imjustdandy] 06/8/2024 18:20

Also , the amount of debt reduced in the past 12 months is incredible. Happy to be holding with Schroders now on board too. Solid

[mesquida] 06/8/2024 15:36

I too am very bullish, but don't forget that the company will be making top up payments into the pension fund for some years to come, thus inhibiting their ability to resume dividend payments to shareholders. But nevertheless i do think that we could see 80p here within the next twelve months.

[imjustdandy] 06/8/2024 15:25

Adjusted operating profit was actually 7m. Valuation is way too low here

[imjustdandy] 06/8/2024 14:53

This share was 2 quid back in the day. Don't think we will see that again but certainly back over a quid. That would only be a 60m market cap which is a multiple of 10 on the adjusted operating profit. I'm sure Schroders can see that

[imjustdandy] 06/8/2024 14:34

Regardless theres an underling 6m of operating profit when you add back exceptional. Only going one way

[imjustdandy] 06/8/2024 14:33

Surely not - what a clown . Probably couldn't believe his eyes when he seen Schroders arriving

[mesquida] 06/8/2024 14:05

Did you see yesterday's RNS, he has actually been buying back !

[imjustdandy] 06/8/2024 13:22

Schroders having 18 percent already is stunning . Can see them hitting 25 percent this month.

[imjustdandy] 06/8/2024 11:55

Schroders will be buying blacks shares. Sticky new holder will work wonders once black is out. I reckon he's almost out

[wigwammer] 06/8/2024 09:36

First Equity were buying heavily around the 10p lows off unsuspecting PI's. They were assisted in this process by poorly informed chat board cynics who encouraged them to hand the shares over. You can't legislate for private investors acting on poor advice, and nor should you want to.