Conder Environmental Share Discussion Threads

[charmer1_23] 16/2/2005 13:00

RNS Number:6747I
Conder Environmental PLC
16 February 2005

Conder Environmental PLC



16 February 2005



Conder Environmental PLC ("the Company")



The Company announces that it was notified on 15 February 2005 that on 14
February Jon Varney, Group Managing Director, bought 160,000 Ordinary Shares of
10 pence in the Company at a price of 6.2 pence. The total holding in which he
has a beneficial interest following this purchase is 210,000 shares representing
0.56% of the issued share capital (current shares in issue 37,254,309) of the
Company.



The Company was also notified on 15 February 2005 that on 14 February Robert
Turner, Group Commercial Director, bought 40,000 Ordinary Shares of 10 pence in
the Company at a price of 6.2 pence. The total holding in which he has a
beneficial interest following this purchase is 50,000 shares representing 0.13%
of the issued share capital (current shares in issue 37,254,309) of the Company.



END




This information is provided by RNS
The company news service from the London Stock Exchange
END

RDSEAAAKFFASEFE

[garth] 14/1/2005 09:39

PUG,

I agree with your comments. They said that this half would be weak, but still had 1p eps as a target for the year. Its going to be another loss. Add to that tighter than expected cash.

Looks like the effluent option in the header, IMO. The question now would be whether they really can deliver on a better 6 months, AND follow that through and maintain it into next year.

G.

[pugugly] 14/1/2005 08:46

Very poor interims. Cash position seems far worse than I expected. In spite of receiving £383,000;re insurance they report that "the difficult trading in the first half put pressure on our working capital,although this is now easing. Despite the losses, a combination of careful cash management and advance payments on orders restricted the net cash outflow. Net debt at 31 October 2004 was #852,000 (30 April 2004: #844,000).

So I make this a REAL CASH OUTFLOW OF £391,000 and not the glossy picture portrayed by the board.

I think I am right - or do I need to correct. Any comments or other views.

[pugugly] 06/1/2005 11:36

garth:. Take care with the net assets - I think about a third is intangible - according to refs the ntav based on the 03 accounts was only 10.1p. Much of this is I understand plant and machinery. Insurance cash has I am told now been received so gearing should have been reduced unless more borrowing to fund rationalisation etc. Very much UK based so Vicoma probably sufferign form $ weakness. Have to give the new FD the benefit of being new for the delay in the accounts. Cannot really make a case for purchase at the current time.

[garth] 05/1/2005 09:55

Comment from the Aim VCT on their performance to May 2004. Conder is one of their holdings:

"Conder Environment, which looked as though it
was on the mend last year with a move into profits,
announced that this year its oil spill recovery
division ''Vikoma'' had experienced a delay to
some of its orders, as well as a negative impact
from the dollar. Its Conder products division had
also suffered from poor trading conditions. The
company produced a loss for the year and the
CEO was replaced. The shares have fallen from a
high of 20 pence to 7.5 pence per share. The
company has net assets of 15 pence per share."

[garth] 05/1/2005 09:45

Spoke to the company - the interims will be out on or before 21st January.

Forecasts are still for 1p eps for the year. That's a forward pe of 6 - if they can hit.......

G.

[garth] 04/1/2005 11:53

Interims were 19/12 in 2003. Does that make us overdue?

G.

[garth] 13/12/2004 13:26

Forecasts look to have been updated but left unchanged.

Teather & Greenwood 06-12-04 HOLD Profit: 0.40 eps: 1.00 divi: 0.50

Results expected in a week's time based on previous years.....

G.

[pugugly] 23/11/2004 21:33

That 50K at 6p while maked as a buy could be a sell as offer marked severly down. Thoughts?

[garth] 23/11/2004 14:58

Maybe not.

[garth] 18/11/2004 13:05

Moving up again on 40K volume.... Have we bottomed?

G.

[garth] 31/10/2004 20:35

£18m turnover, £2.4m market cap.

10p/share Net Assets.

Forecast to make 1p a share and the possibility of return of funds to shareholders via a sale of part of the business.

Be nice to see them back up above 7p this week :-)

G.

[garth] 27/10/2004 20:46

All buys and another tick-up today. Interesting.....

G.

[garth] 27/10/2004 08:51

Actual spread this morning 5.5p/6.31p

[garth] 26/10/2004 23:14

Thank you Stingray for taking the time to post that up :-)

A little tick up today.....

G.

[stingray1690] 26/10/2004 17:07

CDE's flight to profits has been bumpy. A loss of £263,000 at the vikoma oil skimmers and booms business replaced 2002-03 profits of £1.32m. Vikoma now expects to recieve a regular level of orders of between £6-£7m a year, but hopes for one or two larger contracts. Two expected orders have not yet come in, though, so the sales fell from £13.77m to £9.04m. But losses at the sewage and water seperation tanks arm fell from £645,000 to £223,000. Following a first half loss, brokers hope for 2004-05 profits of £260,000.

IC VIEW: Unappealing, but its too late to sell. Hope for some big contracts for Vikoma.

Sorry for the delay Garth been quite busy, good luck S

[garth] 26/10/2004 02:54

Over 100k traded today. 50k of those going at 6.5p...... but no share price movement.

[garth] 22/10/2004 19:19

Stingray,

No, haven't seen it but would very much appreciate doing so!

Thanks,

G.

[stingray1690] 22/10/2004 15:25

Good afternoon Garth, been a while since i posted here, still keeping an eye on it though. Noticed an article in the IC today which i will type up and post for you to have a read of later, unless you already have it? Regards S

[garth] 20/10/2004 15:14

Flatlining at the moment.....

G.

[kevster] 20/10/2004 14:20

I'm still not tempted

[garth] 23/9/2004 19:23

1 303PO4FS04 5.5 50000 T 4.5 6.5 16:37:22

On a T trade, Someone expecting news?

[garth] 11/9/2004 14:03

Kevster - very great caution I think! But with NAV at 10.1p and the potential in the business to be making 1p+ eps and paying 0.5p divi I think I'm happy to wait. Water legislation seems to be tightening following the European water directive. The requiremnt for estuary sampling is slowly leading to greater controls on the Water PLCs and with the requirement to seek local authority permission to discharge into water ways hotels, factories etc will also need to tighten discharges. That is where Conder's equipment - such as the Clereflow - come in. Current legislation is that any increase in discharge must lead to no increase in pollution. Protection of water courses from clogging by vegetation means that controls are tightening over the quantities of safe 'fertiliser' type discharges allowed. Again - business for Conder, as I understand it.

G.

[kevster] 09/9/2004 10:29

Looking more interesting, however, interest rate rises and £800,000 of debt will take a few years to clear on current performance. The first half is often a little poor as well, but will keep my eye on this one, it could come good,
but track record suggests caution,

Kev