Dewhurst Share Discussion Threads

[patviera] 06/12/2005 17:28

insipiens...they have loads of cash..35 pct of mkt cap..and last acquisition was a blinder!!

[insipiens] 06/12/2005 11:51

Thanks,

Perhaps when they move to AIM they may have to re-appraise the share structure, although I doubt there's any reason to.

Personally I like the solidity, yield. If the share structure doesn't interfer then I'm happy.

Only concern I have is that a move to AIM is usually to raise money - more equity issue thus diluting current holdings.

Cheers WJCCGHCC & goodluck.

[wjccghcc] 06/12/2005 11:42

Nothing specific. I just find it can complicate things and I prefer transparency. Also, with a company this size, why have two separate securities when you could combine them and increase the liquidity?

[insipiens] 06/12/2005 11:17

That's OK WJCCGHCC. Why do you see dual listing as an issue, just curious....?

I'm not ramping here, it's just easier to examine the news,charts etc. and for me to keep an ongoing list.

Goodluck with your investments.

[wjccghcc] 06/12/2005 11:15

Thanks insipiens. I don't do dual structures. Good luck with it.

[insipiens] 06/12/2005 11:07

WJCCGHCC,

Those are the non-voting A shares , so yes a dual share structure. The main holder of these (last year's annual accounts) was HSBC in a nominated a/c - other holders appear to be family members mainly not directly involved in the business.

The directors mainly hold the voting shares, although 3 have part holding in A shares.

[wjccghcc] 06/12/2005 10:32

EV to cashflow looks interesting but what is DWHA versus DWHT? Do they have a dual share structure?

[insipiens] 06/12/2005 10:05

On dividends:


Tax and Dividends

The current tax charge for the year rose to #1,193,000 (34.2%) from #1,141,000
(34.2%) an increase of #52,000. Although there is no movement in the effective
tax rate, #29,000 of the increase in tax charge relates to a prior years
adjustment. The proposed total dividend of 4.89p per share, up 5.2% against
last year's 4.65p, is covered 4.6 times by earnings. Shareholders' funds
improved from #13.2 million to #15.7 million. There was no reduction of shares
during the year

[insipiens] 06/12/2005 10:03

So it will be listing on Aim then, also profit up on reduced inventory, strong cash flow - sounds like a well managed business:



Dewhurst sees acquisitions as path to growth; FY pretax up 4.6 pct

LONDON (AFX) - Dewhurst PLC said that in the current environment the
group's most significant prospect for growth is with acquisitions and it
continues to actively search for such investment opportunities.
The comments came alongside results for the year to Sept 30 2005 which
showed a 4.6 pct increase in pretax profit to 3.5 mln stg, primarily achieved
through the effect of the acquisition of Lift Material in Australia together
with increased interest earned on higher cash balances.
Sales for the year were up 2.5 pct to 30.0 mln stg.
Dewhurst said its strong cash flow has been one of the encouraging aspects
of the year's performance. It has been accomplished, in part, by improving the
reliability of deliveries and working with suppliers to reduce stock levels.
Spurred by falling prices, the group said it has achieved significant
efficiency improvements in recent years and has established cheaper sources of
component supplies. However, as it continues to look for further gains in these
areas it is now reaching the point where the savings are harder to find and less
valuable.
At the same time, costs are rising in a number of areas, particularly those
related to oil such as energy and plastics, the board noted.
It is this which is pushing the group towards bolt-on acquisitions to
achieve progress.
Dewhurst also announced today that it plans to move its listing to AIM.
[e-mail]

[insipiens] 02/12/2005 11:04

Comparison of DWHT v DWHA over 5 years

[royaloak] 07/2/2005 10:54

Looks like the comment in the IC bringing to peoples attention!

[wipo1] 19/1/2005 19:53

Dewhurst still looking undvervalued, p/e still very low. I could easily see at least £2 by year end.

[wipo1] 10/12/2004 10:28

More buying today, well done in Chris in spotting this one a while ago, the city have been slow catching on, broker to broker buy today as well today!

[royaloak] 09/12/2004 11:57

Hi Craig

Strange, yet they marked it down first thing on results, fingers crossed!

Apologies to everyone else, but off topic, have you seen CFT statement today?

A bit of profit taking set in now, hopefully it will move a touch lower, that will be anothr one for the bottom draw!

[wipo1] 09/12/2004 10:44

Hi Chris,

Looks like another one of your tortoise shares turning into a hare!!!!! Market cap only £13 million, a lot further to go I think.

Craig

[royaloak] 09/12/2004 10:42

finbarr, what did he say? Thanks in anticipation.

[royaloak] 08/12/2004 09:38

Hi Craig, up again, not going to set the world on fire but better than money on deposit!

[wipo1] 07/12/2004 23:13

Hi Chris, yeah definately agree, low p/e, good operating margins, net assets and half decent dividend, suppose statement is cautious - things maybe getting a bit tougher, stock still cheap though. I am sticking with it, suprised no-one is else is taking notice, a 10k trade at 138.5p, someone must think its cheap!

Craig

[royaloak] 07/12/2004 09:49

Not a particularly optimistic statement in final results issued today, but with pe ratio of less than seven I can live with that! Still good value, but not a traders' stock because of wide spread!

[wipo1] 23/7/2004 09:05

I think the market over reacted yesterday, If DWHT lost 5 million in revenue that would be 500,000 in profits roughly, with profits for this year still growing, might no be all that bad.

[tamaybroke] 23/7/2004 00:13

CWA1 have just looked into this one and am thinking the same!....but as ive said JUST looked in and am not familiar with its history.

[cwa1] 22/7/2004 16:19

The Company recently had to tender for the supply of a keyboard for the latest
model of Automated Teller Machine for a major customer within the keypad
division. Regrettably, due to price pressure from overseas manufacturers, the
Company has been informed it has lost this contract. This is not expected to
have an immediate impact on the Company as the new model is not forecast to
replace production volumes of the existing product until late 2005. The effect
in the Company's 2005 financial year should not be significant, based on current
information. However the work for this customer represents a significant supply
contract within the division, which the Directors estimate would have accounted
for approximately #5 million of revenues in the year to September 2006.

In the Lift Division, the Company is pleased to report that we have been
selected to provide the lift pushbuttons and indicators for the majority of the
lifts on Heathrow's new Terminal 5.

As regards current trading, the Board of Dewhurst can confirm that trading in
the year to date is progressing satisfactorily and is projected to meet or
exceed expectations.

The good and the bad, has the market over reacted?

[wipo1] 10/6/2004 08:17

Hi Chris, yeah I am very pleased with interims and very suprised at the lack of interest in this one!

Could rise 20% this one and still look cheap!

[royaloak] 10/6/2004 08:10

Good interim results today, still plodding along!