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CPSP Clyde Process

83.25
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Clyde Process LSE:CPSP London Ordinary Share GB00B1TSKR82 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 83.25 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Clyde Process Solutions Share Discussion Threads

Showing 151 to 174 of 275 messages
Chat Pages: 11  10  9  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
18/12/2009
10:24
if anyone wants the recent (16th Dec) CPSP broker note from Astaire email me robson1974@live.com
robson1974
17/12/2009
08:34
yep nice order - hope they can get a few more like that.

CR

cockneyrebel
17/12/2009
07:49
Nice 1.7m contract win. Should get the share price moving north again.
bigbigdave
27/11/2009
11:52
"Previous years have seen our second half outperform the first half, however, we expect this financial year to be different due to the outstanding result of the first half."

Surely the chairman isn't telling it straight. H2 won't beat H1 this year because orders dropped off and show little sign of improvement three months into the period. Last year H1 was 36.1m and H2 was 45.9m, so at 38.4m I wouldn't call this H1 outstanding, particularly as it benefitted from a delayed contract and a bad debt recovery.

My thesis was that the company had done well in the recession and would forge ahead now. In light of these results it's looking like H1 looked good because of momentum and the company has since run out of steam. It was an unusual recession after all because it hit hard and quick.

gwr7
27/11/2009
11:38
Brokers were cautious ahead of the start of the year and CPSP beat by some way.

Worth reading the the bit from the press a few post up where Jim McColl says they aren't seeing gree shoots, they are seeing tulips.

Also the contract wins of late have been strong.

I'm sure as ever brokers will hold off forecasting then we'll ge tthe 'ahead of forecasts' RNS as we did in the interims.

5.8p eps for the year looks nonsense when they've done that in H1 - just as the previous forecasts for this year looked way too light.

100K traded today, that's not the MM's taking them, it's too many, someones scooped them tho.

8-9p eps this year for me as invetories fadse away and orders start coming in in increasing numbers imo.

CR

cockneyrebel
25/11/2009
20:34
Are there a lot of fixed costs involved here? If not then surely £25m turnover will generate more than the 0.45p eps in H2 to meet current forecasts?
stegrego
25/11/2009
20:04
Arden - 25/11/09:

No change to forecasts:

2/10 - 5.8p

2/11 - 6p

"End markets remain tough and the order book remains at similar levels to the end of July (£25m) which suggests a weaker H2 than H1. The level of enquiries is improving and, as the £1.9m of orders reported this week demonstrates, even areas such as steel are starting to invest. This suggests that end markets should start to improve in 2010.

Valuation. The PE rating is at a c20% discount to the engineering sector for 2010 (12.2x). As end markets improve so the underlying gearing and value will once more emerge hence we retain our medium term positive stance."

simon gordon
25/11/2009
18:36
Took profits today, I reckon it could drift back to the mid 50s, will buy back in then.
simon gordon
25/11/2009
13:48
simon - yes I came to a similar conclusion: the only reason I could think of for downward EPS forecasts for 2010, 2011 was a smaller order book.

If the order book can increase meaningfully these 2010,2011 eps forecasts will have to be revised upwards, otherwise share price will not break higher.

It's 2010 earnings which prevents me buying into this.

I prefer the earnings growth of the likes of EDD for example.

dasv
25/11/2009
13:06
Interims - 25/11/09:

Outlook

While trading conditions continue to be challenging across many key customer markets, the business is well positioned to manage the impact of the economic climate through a well diversified strategy, complemented by initiatives focused on customer contact, costs, credit and cash.

The short-term outlook for the Group is underpinned by a healthy sales pipeline of opportunities. We have developed and implemented specific targeted, customer-focused strategies to ensure that when decisions are made for capital investment projects, customers will select CPS due to the significant economic and environmental returns our technologies can generate. The business has been buoyed by the recent upturn in activity within the metals and minerals markets and is well positioned to benefit.

The Board believes the medium to long-term outlook for the Group remains positive across all global key customer markets. The Group's growing, global capabilities to provide these markets with economically enhancing, environmentally beneficial pneumatic conveying and air filtration solutions will become of key, strategic importance when trading conditions improve.

The Board is pleased with the record revenue, profit and earnings the Group has generated during this period and is providing significant support to ensure this momentum is carried through to the year end.

Order conversion and execution have been communicated as key priorities for all Group subsidiary companies for the remainder of this financial year. Whilst the Board anticipates trading conditions to remain challenging during this financial year, it believes that it should be well positioned to meet current market expectations for the year.

=====

Seems to me that the share will now tread water until some chunky orders come in and the order book rises. If CPSP struggle to convert enough orders in the next two quarters then the outlook for 1H 2010 will be negative and the share could be derated toward 50p, if they do the business they could be rerated toward 100p.

simon gordon
25/11/2009
12:42
CR - was eyeing this up a couple of years ago but decided not to invest as they had some large payments to make for the American aquisition. Have been wary and almost ignored the company since (should have paid more attention when it was coming off its lows)

However, looking good now but im a bit confused as the full year forecast is 5.8p, yet they have done 5.35p in H1.....
I know they are saying that H2 wont be higher than H1 but surely its not going to be 0.45p?



Hoodless B
Clyde Process Solutions (CPSP, 63.5p, £25.64m) Interims to August 2009 saw revenues up 6% to £38.5m (£36.2m) with underlying PBT of £3.19m (£1.57m) and EPS of 5.35p (3.82p) but no DPS (0.75p). The group has delivered this performance despite lengthening customer decision cycles and has been ahead of the management's own expectations. There is a note of caution with the order book at the period end standing at £22.8m, down from £38.5m at the year end. However the group has recently been announcing contracts - but may not make up the shortfall. Traditionally the group does see H2 outperform H1 – however this year the group is warning it will not. Forecasts for £4m PBT with 5.8p EPS look sensible if not cautious, confirming our price target of 66p. However we are meeting the company soon and the shares are now within 10% of our target price, so drop to a HOLD

stegrego
25/11/2009
11:38
CR - how come earnings forecasts for 2010 are half of 2009? Rolling PEG doesn't look cheap either?






tempting chart though (another few days of rises and 151p active)

dasv
25/11/2009
10:43
Had a look after your mention of cpsp on the fenr board. Bought 7,500 - in profit, and happy to hold. Interesting to see press coverage of results (if any) tmro.
lobby ludd
25/11/2009
10:18
Welcome Stegrego - these were going great guns prior to the recession - well worth going back through the RNS's from a few years ago to see how they were growing.

Agree Bigbigdave - CPSP have grown profits year after year for 4 years even through the recession an they look like doing it again this year - very few companies achieving that.

CR

cockneyrebel
25/11/2009
08:13
After watching since 30p, finally stuck a toe in the door this am.
stegrego
25/11/2009
07:57
Doesn't get much better eh? Zulu in the making? 8-)
bigbigdave
25/11/2009
07:43
Absolutely fantastic results as the company says - how well they are doing through a recession, wait till se get a recovery.

They have nearly met the years forecasts with H1 earnings alone. Playing down H2 a bit but then they are cautios on guidace normally anyway (like H1 was 'slightly ahead' lol :-)).

Orderbook down 34% on H2 last year but they did over 6p eps last H2. Must do 3p eps at least in H2 imo and possibly a lot more as they said yesterday:

"We are pleased to maintain the sales conversion momentum
we have built in recent weeks.

So I expect that order book to build well.


Must re-rate on these results imo - who's posting results up this much on H1 last year?

CR

'

cockneyrebel
24/11/2009
14:57
About to breakout here

CR

cockneyrebel
24/11/2009
08:15
Chart looking rather good here too BB-Dave. I think a nice breakout on tomorrows results looks likely seeing they've already said H1 will be slightly ahead.

CR

cockneyrebel
24/11/2009
08:05
Just managed to get another 7k @ 58p mid price.
Think tomorrow will be good.

bigbigdave
24/11/2009
07:47
They also say this: "We are pleased to maintain the sales conversion momentum
we have built in recent weeks"

Sounds like a big hint there before the results tomorrow, especially as they have said H1 will beat already.

CR

cockneyrebel
24/11/2009
07:13
Nice contract wins before tomorrows results.
bigbigdave
12/11/2009
10:48
results in 10 days - looks like you can buy at 57.5p this am by those trades - will they be this cheap in 10 days time?

CR

cockneyrebel
12/11/2009
09:02
Looks like a couple of buyers around this morning ahead of results in 10 days time
edcrane
Chat Pages: 11  10  9  8  7  6  5  4  3  2  1

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