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Share Name Share Symbol Market Type Share ISIN Share Description
Cenkos Securities Plc LSE:CNKS London Ordinary Share GB00B1FLHR07 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 53.50 52.00 55.00 53.50 53.00 53.50 34,673 08:00:20
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 25.9 0.1 -0.2 - 30

Cenkos Securities Share Discussion Threads

Showing 3726 to 3749 of 3825 messages
Chat Pages: 153  152  151  150  149  148  147  146  145  144  143  142  Older
DateSubjectAuthorDiscuss
05/10/2020
09:54
Had a look at the Admission Document and this looks like a big earner for Cenkos. Docs available on the Calnex Solutions website in the Investors tab hXXps://www.calnexsol.com/en/?start=20 ALL IMO. DYOR. QP
quepassa
05/10/2020
07:28
They managed to get this AIM IPO away today https://www.londonstockexchange.com/news-article/CLX/admission-to-aim-and-first-day-of-dealings/14708157 Small but a decent fee no doubt. Not read the Aim admission document, but I would guess at a £0.5m - £1m fee.
topvest
02/10/2020
17:38
Fully agree it reduces the downside in tougher times, however the variable remuneration in 2018 was about 5 times the overall profit and so I'm just looking to understand how that works. If cenkos do return to large levels of profitability, will it just be paid away in compensation incentives. Do you actually know how the payout system works?I like the look of this company and am interested in holding it, but am looking for a holder who is so bullish to explain how it worked in previous years and how it would work in the future if they do start to perform well, do any holders have actual numbers they can quote in the split between shareholders and employees? I find many holders buy into a company and will then paint a prettier picture than is actually there, I certainly have done, which is why I want to avoid that this time.
jamessmith23
02/10/2020
17:08
Interim results are encouraging in my view. The CEO has reduced the cost base and increased revenues, albeit the prior year numbers I think are the worst they had ever done. I've been pondering a top-up to be honest. I think there are signs the CEO is starting to turn things around. What they need are active clients that do things and generate revenues, so loss making mandate losses are not a concern.
topvest
02/10/2020
15:41
James, Cenkos pay their staff with packages that are very performance based. Cenkos pay lower basic salaries than rivals such Numis but Cenkos bonuses are more attractive. It incentivises staff to perform. They only get bonuses when they do well for the company so everyone's a winner. Wages are a high variable cost but many businesses have high variable costs, it doesn't necessarily make them less attractive as an investment and it makes the business more resilient in tougher times.
f15jcm
02/10/2020
13:58
Loss of mandate. Cenkos have been replaced as Nomad/sole broker to Marechale Capital (MAC) by Cairn Financial Advisers (Nomad) & Novum Securities (sole broker)... HTTPS://www.investegate.co.uk/marechale-capital--mac-/rns/change-of-adviser/202010020700038837A/
speedsgh
02/10/2020
12:06
Not a lot of point using a figure that isn't actually relevant for shareholders though. Shareholders will never receive the underlying profit even if there are no one off costs such as restructuring. Variable remuneration in 2018 was £12.4m, it's on their investor page, and profit for shareholders was £2.35m, happy to have that explained to me as it doesn't make a huge amount of sense how that works?
jamessmith23
02/10/2020
09:00
There are regulatory requirements for the amount of capital they need to hold.
spooky
02/10/2020
08:54
Baffles me why they're keeping that much cash on the balance sheet. Anyone know why?
fredfishcake
02/10/2020
08:20
These look like strong figures to me and corroborate the positive sector news contained in the results from Numis yesterday which are worth reading together with the Edison Research Note which provides good sector opinion. New issues are understandably down for Cenkos but this is the case across the small-cap sector but secondary fund-raisings have never been so buoyant. The need for further secondary fund-raisings will likely grow significantly as more companies will need to repair covid-damaged balance-sheets. Big-ticket M&A is very buoyant. This will likely trickle down to the small-cap sector in due course. Astonishing cash balances at Cenkos add a great deal of comfort and even with a reduced dividend, the prospective yield is very attractive. All positive and a sector which will increasingly need the services of M&A specialists like Cenkos. ALL IMO. DYOR. QP
quepassa
02/10/2020
08:19
Looks decent enough to me. In round numbers £22m of cash and a market cap of £27m, ie the business ex cash is valued at £5m and it made £2.0m a P/E of 2.5 ? Whats not to like?
brownie69
02/10/2020
08:08
STIP is 0.5m of the 1.158m
spooky
02/10/2020
07:53
On the other hand, add back £1.1m of presumably one-off restructuring costs and they are flying.
molatovkid
02/10/2020
07:47
The STIP only started in April - so the cost was only for one quarter. Assuming the £1.9m was evenly spread over the half - the STIP got half the profit made in Q2.
trident5
02/10/2020
07:14
If anyone has further details on the breakdown of the incentive plan then please let me know, as I am happy to be corrected!
jamessmith23
02/10/2020
06:55
Yeah this is what put me off buying previously. Looking at the years where there was large profits for shareholders, the incentives were of the same value or higher. Provided the base salaries aren't ridiculous (which in this industry they could be) having a variable cost via an incentive plan does reduce the downside but also the upside. Also these plans are often exponential, as in the better you do above your target, the higher % of commission you make, which is also bad for shareholders.I don't have exact details of the incentive plan, realistically I should take a look, but with such a low enterprise value I have been tempted here for a long time, and the only thing that has held me back is I can very much believe the incentive plan cuts out profits for shareholders. No major shareholding by directors of over 10% and only 2 over 5%, so can imagine they are very happy receiving their pay out via incentives, and with a company this size it won't get much scrutiny.
jamessmith23
02/10/2020
06:21
Reasonable set of numbers. But what worries me is that revenue up £2.3m meant staff costs were up £1.0m in incentive payments and assets down as shares bought in order to give to staff. Once tax is paid on what's left there isn't ever going to be much left over for the shareholders.
grahamg8
30/9/2020
12:10
Do we know when to expect the interims? I believe they had already been published by this point last year?
f15jcm
29/9/2020
19:08
New mandate. Cenkos have been appointed joint broker, alongside existing joint broker Peterhouse Capital, to Agronomics Ltd (ANIC). They replace Zeus Capital; Beaumont Cornish remain Nomad... HTTPS://www.investegate.co.uk/agronomics-limited--anic-/rns/appointment-of-joint-broker/202009290700063531A/
speedsgh
28/9/2020
14:30
New mandate. Cenkos have been appointed joint broker, alongside existing broker Liberum, to Honeycomb Investment Trust (HONY)... HTTPS://www.investegate.co.uk/honeycomb-inv-trust--hony-/rns/appointment-of-joint-corporate-broker/202009280700082074A/
speedsgh
28/9/2020
06:09
Numis - Trading Update released this morning via RNS. Buoyant and confident. Worth reading. Seemingly very upbeat sector feedback and likely positive read-across for Cenkos. ALL IMO. DYOR. QP
quepassa
22/9/2020
20:06
The Calnex Solutions float is a reasonable transaction for Cenkos. Probably worth up to a £1m in fess I suppose. John Lewis of Hungerford don't do much, so not a great loss! 2020 not shaping up to be a great year though unless they have some bigger deals in the coming weeks.
topvest
22/9/2020
15:28
Loss of mandate. Cenkos have been replaced as Nomad/sole broker to John Lewis of Hungerford (JLH) by Allenby Capital. HTTPS://www.investegate.co.uk/john-lewis-of-hunger--jlh-/rns/change-of-adviser/202009220700106417Z/
speedsgh
21/9/2020
06:47
Involved in the Calnex Solutions float. The Placing was significantly oversubscribed, having received strong support from institutional investors, and will raise a total of £22.5 million (before expenses), comprising £6.0 million for the Company and £16.5 million for existing shareholders. Cenkos Securities plc ("Cenkos") is acting as Nominated Advisor and Broker to the Company. https://www.investegate.co.uk/calnex-solutions-plc/rns/intention-to-float-on-aim/202009210700085032Z/
tanneg
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