Delta Share Discussion Threads

[rainmaker] 15/12/2008 21:43

Hi Dave-I think there is a great deal of value here-of course, it undervalued. The chart tells me the share price should make substantial progress from current historically low levels

regards

[davebowler] 15/12/2008 13:30

The Company is now in a position to advise shareholders that the trading performance of
the business for the twelve months ending 27
December 2008 is forecast to be a substantial improvement from the year ended 27 December
2007.
Earnings before taxation is forecast to be between R102 million and R122 million and
headline earnings before taxation is forecast to be
between R104 million and R125 million for the twelve months ending 27 December 2008(2007: Loss
before taxation of R222.1 million and
headline loss before taxation of R141.4 million).

Earnings and headline earnings before taxation have been reduced by the cost incurred in
managing the Group's Australian EMD plant since
production ended at that plant during March 2008, and increased by gains realised on the sale
of certain Australian raw materials. Excluding
the costs related to the closure of the Australian plant and the gains realised on raw
materials, earnings before taxation is forecast to be
between R115 million and R137 million and headline earnings before taxation is forecast to be
between R117 million and R143 million for the
twelve months ending 27 December 2008.

Operating profit before taxation for the twelve months ending 27 December 2008 is forecast
to be between R130 million and R158 million,
inclusive of the costs in managing the Australian plant since production ended in March 2008
and the gains realised on the sale of certain
raw material, which compares to an operating loss before taxation of R68.2 million for 2007,
excluding closure costs and a profit on sale of
land in Australia.

Earnings per share for the twelve months ending 27 December 2008 are forecast to be
between 145 cents and 177 cents (2007: Loss per
share of 419 cents). Headline earnings per share are forecast to be between 146 cents and 178
cents (2007: Headline loss per share of 297.9
cents).

Cash balances are forecast to be in excess of R200 million at 27 December 2008 (December
2007: R218.3 million). This is after the return
of capital by way of a capital reduction of R112.6 million (229 cents per share) and the
payment of a special dividend of R49.2 million (100
cents per share) to shareholders during 2008.

Necessary cash balances will be retained until such time as the cost of rehabilitating the
Kooragang Island residue disposal facility in
Australia is determined and a tax query relating to the Group's sale of its Industrial
Services businesses during 2005 is resolved. The
board anticipates payment of further special dividends when the cost of rehabilitating the
Kooragang Island residue disposal facility is
determined, when the 2005 tax query is favourably resolved and when value is realised through
the sale of the Group's Australian EMD
production site and Kooragang Island residue disposal facility. Opportunities for realising
value from the sale of the Group's land, plant
and equipment in Australia continue to be developed with favourable prospects.

The board also anticipates payment of regular dividends following the Group's year end
results.

The forecast financial information on which this trading statement is based has not been
reviewed and reported on by Delta's auditors.
Delta's results for the twelve months ending
27 December 2008 are expected to be released on or about 23 February 2009.




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

END

TSTGUGWPPUPRUBA

[wipo1] 09/12/2008 21:51

More gloomy manufacturing data not helping the price but market cap is now near cash position and shares yielding 8.3%. I can't see the price going much lower than the cash assets 98.9m, market cap 104m as of closing price 9/12. Shares can go very quickly back up like BOY did today but I am still not sure maybe wait to see a pick up before buying.

[slaine777] 09/12/2008 13:52

A quick perusal of the VAL thread only throws up micro caps with large spreads.

[rainmaker] 09/12/2008 02:01

Check out the Value thread(VAL) where there are Cos not just listed at less than Net Tangible Asset Value(as opposed to net asset value which includes intangible fixed assets) but trading at or less than net net current asset value(ie current assets less total liabilities)so in purchasing the shares you are paying nothing for the fixed assets

regards

[slainegardener] 09/12/2008 00:29

These look v cheap to me. I've been buying at these levels. Any other cheap shares out there trading below ntav?

[wipo1] 22/11/2008 14:55

This looks one of the cheapest stocks on the market, trading well below NAV and cash balance is 98.8M, market cap 114m, very strange am i missing something here?

Worth watching if it can stay above 72p, could form a double bottom and go back up to 85-90p?

last statement from company:


Interim Management Statement
To the members of Delta plc

This interim management statement covers the period from 1 July 2008 to date. It has been
produced for the sole purpose of providing
information to the Company's shareholders in accordance with the requirements of the UK
Listing Authority's Disclosure and Transparency
Rules. It should not be relied upon by any other party or for any other purpose.
The Delta Group continued to trade strongly across all three business segments.

The Group's Engineered Steel Products businesses continued to benefit from strong demand
and good margins as steel prices stabilised.
Public spend remained strong in Australia, and volumes sold remained strong in most Asian
markets notwithstanding increased economic
uncertainty and political instability.

Volumes at our Australian galvanizing plants remained strong, whilst demand in Asia and
the US weakened. Although pressure on selling
prices continued with further reductions in the cost of zinc, operating margins benefited from
the use of lower cost zinc as the Group's
zinc stocks turned over.

Delta EMD continued to perform well, and market positions were clarified with the
resolution of antidumping investigations in Japan and
the US, where no retroactive duties were imposed. Substantial sales into the United States
commenced and selling prices remained good,
affording attractive operating margins. Opportunities for realising attractive values for the
balance of Delta EMD's Australian assets also
remained promising.

Manganese Metal Company continued to perform very well, and with a full reversal of the
Group's earlier impairment of the Group's share
of its net assets, the Group will account for MMC's profits as an associate during the
remainder of the year.

During May 2008 the Delta Pension Plan's investment strategy was modified to substantially
reduce the plan's exposure to equities.
Consequently, the impact of the equity markets' recent decline has not materially affected the
plan.

The Group had net cash of £98.8m at 30 September 2008, including cash balances held by
subsidiaries not wholly owned by the Group.
Whilst recent exchange rate movements enhanced the competitive positions of our Australian
businesses and Delta EMD, Australian Dollar
and South African Rand profits will translate less favourably to Pound Sterling with current
foreign exchange rates. Nonetheless, the
Group's year to date trading and prospects for the full year remain in line with management
expectations.

Concerns over the global economic outlook remain, and consequently our outlook for 2009
will remain cautious until the global economic
outlook is clearer.

There have been no other significant changes in the financial position of the Company over
the period since the publication of the
interim report.

[rainmaker] 09/11/2008 20:09

No Slaine777, it's got a listing on the main market, in the Fledgling Index I believe

regards

[finkie] 20/10/2008 15:30

Does anyone know what the extent of the pensions deficit/liability is?

[slaine777] 13/10/2008 14:08

Is this an AIM stock?

[wipo1] 07/10/2008 14:37

I am topping up at these prices, this is crazy given the companies cash pile and high nav. 30 million profits forecast, has a wide spread of business in different countries.

[wipo1] 19/7/2008 10:16

Hi HVS, no problem, hope you are doing ok. I am still in here but a little disapointed the price has eased back a bit but I think it could rise back up to 130p area before xmas.

Also a lot of recent fund manager buying makes me think the price should rise given time.

Regarding the recent statement about the pension, have you any idea how much it will have cost them to sort this out?

Thanks

Regards

[hvs] 17/7/2008 17:33

Hi wipo1,

sorry for not responding earlier.

Yes, markets are a little BRUTAL but not too bad . I am looking to buy in here
again as I see good upside given the very strong Balance Sheet and trading.

[wipo1] 13/7/2008 09:55

Hi HVS, hope you are ok and not too badly effected by the downturn.

Last few weeks been brutal, DLTA holding up not too badly considering, L&G topping up last week, a good sign fund managers looking for a safeish place for their cash, with very high NAV(mostly in cash) should hold the price up. I hope!

[wipo1] 30/6/2008 17:48

Hi HVS,

bought a small amount today, noticed recent fund manager buying.

[wipo1] 23/6/2008 11:20

Hi HVS,

Delta EMD results not too well received today, market never seems happy, looks like dummy trades dragging price down. Seems to be someone bearish here intent on keeping the price down!

[wipo1] 05/6/2008 18:18

Hi HVS,

Hope you are well mate,great news today. great rise, long may it continue. thanks for all your advice, has been spot on. You were right all along, I ignored my stop loss, never topped up though I was not buying anything at that particular time, not too worry still in a nice profit now. enjoy your weekend.

[hvs] 05/6/2008 08:18

Hi Wpio1

We are on the move mate.

[wipo1] 19/5/2008 10:15

Hi HVS,

I held some ENN a while back, a good company. I still have on my watch list, looks a bit of price consolidation at the moment before moving up.

[hvs] 04/5/2008 10:58

Hi wipo 1,

Nice to see this going NORTH.

Have a look at ENN, thinks there is good upside there.

[wipo1] 24/4/2008 12:02

Hi HVS, I am doing fine thx, Glad I held on too, I never bought any lower down, I bought some BOY and TOT at low levels so can't comlain.

Take care.

[hvs] 24/4/2008 11:54

Hi wipo1,

Still around, trust you are fine as well. Just glad I held on and bought more.

[bryan2] 24/4/2008 11:53

Move Underway?
Price rising in recent days in a falling market!
Significant director buying!
Interesting!

[wipo1] 24/4/2008 11:11

Hi HVS, hope you are doing ok, things looking a lot brighter here, price looking a bit more sensible but still way undervalued imho!

[wipo1] 20/3/2008 09:12

Sharriss -

Strange the share price never fell on results day, I guess there is a shorter at work here because of the pension situation, with markets falling and delta saying the risk is substantial could be the reason for fall?

Trading well below NAV now, market cap is near what delta have in the bank.