Castings Share Discussion Threads

[davidosh] 13/8/2013 14:20

They have significant net cash and a pension surplus so the situation here is much better than it looks at first sight. I reckon eps for the year will come in over 40p so it is very lowly valued on an EV basis.

[wjccghcc] 13/8/2013 12:33

Happy to hold mine. Even if demand slackens in Q114 post the emission regulation deadline, it's likely to recover pretty quickly as the EU comes out of recession.

[redartbmud] 13/8/2013 12:07

Brian Cooke, a man of few words.
Actions speak louder than words!

[davidosh] 13/8/2013 11:45

Nice Agm statement out this morning. I have held these for nearly two years and the announcements always come out at strange times ie. never 7am but tend to be understated and generally positive and then look even better when the results come out.

Interim Management Statement and AGM

Castings plc will be holding its Annual General Meeting this afternoon and at the meeting the Chairman, Brian Cooke, will make the following statement.

We are still enjoying the improving demand from our customers in the commercial vehicle industry as stated in the annual report and we expect this to continue for the next few months.

There also appears to be signs of improvements in the economic problems in Europe and the rest of the world and it is hoped that we benefit from these improvements and continue to enjoy improved sales throughout the financial year. However we remain cautious of the potential impact of the new European emissions legislation in 2014 as previously reported.

B.J.Cooke, Chairman

[exbroker] 09/8/2013 13:55

Quality company glad I have a bucket load in my isa, lie back and enjoy the ride!

[thorpematt] 07/8/2013 21:36

On BBC news yesterday - not on i player yet...

BBC so behind!

[thorpematt] 18/7/2013 00:35

Seems that way. Doing very well since last update.

And I promise it's not just me buying all the stock so :-)

Just don't go around telling too many people. We don't want the thread getting over-populated.

[coolen] 18/6/2013 21:28

"Castings" and "resistance" is a contradiction !

[thorpematt] 18/6/2013 12:44

I reckon previous resistance at 358p is now the support.

[coolen] 13/6/2013 14:35

Davidosh, I feel you are correct.

[westcountryboy] 13/6/2013 07:09

Hi David

According to TDW he had 1,959,636 (4.49%) beforehand. Very pleasing results from a value cashflow point of view, I thought.

[davidosh] 13/6/2013 01:45

You were not alone...

We have been informed that B.J.Cooke, a director, has purchased 3,000 shares in the company at 358 pence each.



I always thought that directors had to state the full total of their current holding in each RNS when adding or selling ?

[thorpematt] 12/6/2013 16:54

Felix,
thanks for the response - you were correct.

Nice and quiet here...

won't stay that way me thinks

I've gone in a bit heavy today so fingers crossed.

[felix99] 02/6/2013 13:50

yes - essentially you are supposed to have a board meeting to approve the results and then release the results as soon as practicably possible thereafter. So they always do this and release about 10am or so.

Most companies these days have a Board meeting the day before which they call a committee meeting of the Board and then have a telephone Board meeting at 7am the next day to approve release - which magically happens immediately but in practice they are sent down the wire the day before embargoed for 7am next day

[thorpematt] 02/6/2013 12:42

Can anyone advise please:-

I cannot see a financial calendar on the company website.

The statement is that results will be discussed at a directors meeting on 16/6/13. But when are we expecting the results to be issued, on the day?

[coolen] 02/4/2013 00:02

If only more British companies could be run this well.

I've held the shares since they were quoted in (just a few) shillings and pence. Save for the Iceland affair, I've never had to worry about this one.

[exbroker] 29/3/2013 19:55

I have spoken with the company and trading has got no worse than at the time of the trading statement.
They will see a pick up towards year end in the euro5 engine sales before euro6 engine legislation comes in on Jan 1 2014. They have a higher percentage of parts on the new engines and new orders from new customers. This is a positive for the medium term.
60% of sales is to European truck makers, some product goes to Brazil.
They continue to add more value to the castings by increased machining and now some sub assembly work in the automotive sector.
Automotive is 30% of turnover
Energy costs are fixed on a two year deal. The euro/sterling rate has moved in their direction but they are being payed in sterling increasingly by the OEM's who have sterling sales.
They continue to generate cash.
Conservative well run company,I sleep very soundly with these in my ISA.

[citymohawk] 20/12/2012 19:53

New levels before xmas or after? :)

[bluebelle] 22/11/2012 20:16

IMI. Probably the most under researched and under valued FTSE 100 stock. (I hold).

[apad] 22/11/2012 15:43

I have been thinking about who would benefit most from Nuclear New Build and suspect it might be Goodwins.
Any views?
apad

[exbroker] 22/11/2012 11:06

I have been to visit both the Brownhills casting and machining plants and Wm Cook near Sheffield. Both sites have had a lot of cap ex over recent years and the new warehouse in Brownhills solves a logistical load/ unloading problem with the old unit behind the offices at the front of the site.
I am a long term holder having bought in when and then again after they fell out of the all share index in summer 2010, as did a number of Insto investors.
It is a cyclical and that is reflected in the rating, but it has lots of cash and there is nobody else in the UK who can cast the volumes they do in the iron alloys that they can.
Core holding that one day will be taken over but not until Brian Cook has retired!!

[apad] 20/11/2012 13:58

EI
I don't remember any names as it was sooo many years ago.
I was responsible for funding some research at B'ham Uni and CGS was a collaborator. Technical not financial visit of course.
apad
BTW terribly tempted by PNN!

[citymohawk] 20/11/2012 13:40

Absolutely EI - Naturally I can't document tacit knowledge nor can i extend the depths of subjective views. Like APAD I will visit a company when I have room for doubt. In this instance, I think its a no-brainer. i love businesses like this. If I could buy more right now I would.

[essentialinvestor] 20/11/2012 12:29

Did you meet Brian?.

[apad] 20/11/2012 11:44

EI
Have visited the company.
Agree with you I do.
apad