Share Name Share Symbol Market Type Share ISIN Share Description
Eleco Public Limited Company LSE:ELCO London Ordinary Share GB0003081246 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  3.00 2.9% 106.50 33,977 14:43:06
Bid Price Offer Price High Price Low Price Open Price
105.00 108.00 106.50 103.50 103.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 25.23 3.89 3.90 27.3 88
Last Trade Time Trade Type Trade Size Trade Price Currency
15:02:30 O 3,000 108.00 GBX

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Eleco Public Daily Update: Eleco Public Limited Company is listed in the Construction & Materials sector of the London Stock Exchange with ticker ELCO. The last closing price for Eleco Public was 103.50p.
Eleco Public Limited Company has a 4 week average price of 97p and a 12 week average price of 95p.
The 1 year high share price is 115p while the 1 year low share price is currently 70.50p.
There are currently 83,079,650 shares in issue and the average daily traded volume is 15,177 shares. The market capitalisation of Eleco Public Limited Company is £88,479,827.25.
brummy_git: I'm staying long ELCO. Investment case is simply too strong
ansc: Arrived back home this morning to find the company's 2020 Annual Report on the doormat; have been a shareholder for 21 years and this one is by far the meatiest during that time ..... their first AR (I always keep my first in any company as a shareholder) contained 40 pages, this one 115! Not being an accountant, 90% of any AR is beyond my comprehension but quickly whizzing through, one or two items caught my eye: two new names as substantial shareholders - IBIM2 Ltd (unless that's the new name of J O Capital Management who've disappeared off the list) and Tikvah Management; disappointingly, although the company has clearly enjoyed a stellar year, not one of the directors has seen fit to buy any more shares [in fact, our new 'chair' still doesn't hold any] and between them hold a measly 0.61% of the company share capital; on the other hand, 1,050,000 share options were granted to directors. That said, I'll still be keeping hold of my shareholding
smithie6: why was a non-exec. appointed as an exec. chairman & not as a non-exec. chairman ? I don't see any reasoning in your post. as I wrote, if the co. was correctly set up by the previous bod with Kettley at its head for X years & the current MD also at a senior position for many years I don't understand why the bod felt an exec. chairman was needed. AIM cos. do not have a temporary exec. chairman unless there is a rescue type situation & that isn't the situation at ELCO. Kettley didn't trust J.Hunter (who is experienced/respected) to be the MD without an exec. chairman above them ?? ------ You agree with my point that organic growth has always been lowish at ELCO ? (& ELCO, in on-line prelim results, intentionally avoids mentioning what it is !) You agree with my point that you can have good construction project software but getting a construction company to stop using a competitors product & switch to using your ELCO product, obviously that is very difficult. You propose any solution ? In 2018 results I think it mentions that X% of USA construction cos. use Powerproject. And some users there of Staircon. ELCO seems, based on the numbers, to have failed to have grown that turnover. ------- & yes, I don't like the rampy words in the prelims from the new chair person & to me it has no value & is just them self justifying or sounding off. & their rampy words do nothing to show how growth can be achieved in USA & 'rest of the world'. (turnovers down 10% & 20% last year !).....since 2018, at least, the growth in USA hasn't happened. (I recall a contract in mining in S.America being won but it doesn't seem to have lead to more.....& I think that the miners have kept going thru Covid, the world keep consuming copper, ally, gold, platinum, nickel etc)
smithie6: am I correct that profit is down, because they just moved more costs out of the profit calculation ? ( to call some costs 'the purchase of intangible assets') & turnover in usa was down ---- the chairman's statement ....blah blah, rampy rubbish imo just self justification so now sales people are going to try to get sales from existing customers & the co. will try to take care of customers uh, like they weren't doing all of that before ! in the UK the co. has been serving the sector for donkeys years & the co. has always worked hard to work closely with clients & keep 'em happy & to meet clients developing needs so the chairwomen's blah blah is just self justification trumpet blowing imo ..if they have take on the extra management staff they mention, then it means higher costs ---- & why have they appointed a temporary exec. chair person ? did the previous execs & board (experienced/skilled) not have everything correctly set up ? ---- USA ELCO is going to try to sell directly to small & medium companies while agents/distributors will sell to big companies. Will agents tolerate that, being bypassed ?! the co. would like to grow sales outside of uk, Germany & Sweden. sales in USA were ~£900k, & were down 10% !! & ELCO has been trying to grow sales in USA for years. Clearly it hasn't happened. There are established competitors there, like ELCO is very established in the UK, arriving from abroad & getting companies to change from using a competitor's software (which they know how to use) to using yours (which they don't know how to use) it is obviously very difficult & has "not" been happening. Rest of world sales, £400k, down 20% from £500k. DOWN 20% !! Unless the sun starts rising in the west I can't see how ELCO is suddenly going to start achieving high growth in overseas markets even though the new chairman starts warbling about it as a target. Just hot air, self trumpeting. Chair person's word can be thrown in the bin imo. What the MD (J.Hunter) might say or do, that is worth noting imo.
ansc: A net 23.74k shares bought today (ADVFN) yet the price didn't flinch again, very unELCO like.
ansc: An actual quote to buy 5k online this morning - 104.9p - with the bid price now at 102p. For some reason share price is being 'upped' on comparatively minuscule buying pressure, would love to know the reason why. Update [13.00]: Two apparent sales @ 101.5p, totalling 540k, marked at 11.26 (plus an earlier 10k sold @ 102p) and the share price is still marked up. How can you tell whether these two 'sales' were really buys from earlier but reported 'L'ate?
thelongandtheshortandthetall: Hi MJ. Yeah ELCO is a great little co. in a nice little niche. They have cemented themselves in the minds of the builders. That's the point. Even students leave Uni all trained up on Elco software ready to go to work. Here's a question for you. Pretend you're a midsize building firm. Lets say you had 200 staff all regularly visiting elco scheduling software. Lets also say you have 5 large expensive projects on the go at the same time and new ones on the horizon as others are completed and signed off. If you want to hire experienced staff they'll come with an understanding of elco software. Now tell me how on earth you begin to change the scheduling software provider. You can't. You are locked in. All staff are trained on it and all need access to it at the same time - all the time. You could of course change but the disruption would be astronomical. Bit like trying to change the engine on a car while it's driving on the motorway. This has not really been discussed but to me this is crux of the matter. The pricing power will start to bubble up soon. I'm sure Elco are aware and they are still in the process of getting their feet in as many doors as possible before they wack the price up. :)
ansc: Is something brewing? Since writing my post [1025] yesterday afternoon, there were 82.5k shares sold @ 100p (I usually do a dummy trade online and yesterday afternoon it was 100/103p) but the price never flinched; a few more sold this morning (with very little evidence of much buying reported (so far) yet the price is up a further 2.5p. Such behaviour very unusual for ELCO. Watch this space ..... edit - 10.41: Dummy trade (for 5k) and the bid price now 102.5p
ansc: During my time as an ELCO shareholder (22 years), the share price peaked (very briefly) at 112p in 2007. Of course, ELCO was a very different beast in those days to what it is now being more involved as a supplier to the construction industry. At the time, I queried why it was even 'dabbling' with software ..... how wrong could I have been!
sphere25: Report is free to download here: Serious allegations in the report. Wasn't it Globo who were found fraudulent with the subsidiaries exposed. Main points: ► ELCO’s core software is ex-growth and experiencing structural decline ► ELCO’s accounts contain significant red flags and conflicts with subsidiary filings ► ELCO’s limited non-IFRS disclosures are highly deceptive and misleading ► ELCO’s R&D claim suggests lack of software enhancing activity ► ELCO’s original German operations generate next to no profit ► ELCO’s acquisition of Active Online has potentially been misrepresented ► ELCO sales are heavily geared to licence sales under a legacy perpetual model ► ELCO has failed to file accounts in multiple jurisdictions ► ELCO has 6 Finance chiefs over the course of the last 10 years ► ELCO lacks credible software experience at board level ► ELCO’s ex-Finance Chief of 16 years has returned as chair of the audit committee ► ELCO commissions glorifying research reports targeted at retail investors ► ELCO’s outdated perpetual licencing model poses a risk to its market position ► ELCO’s Executive Chairman possesses an uncomfortable degree of control ► ELCO’s cross-selling potential is dramatically overplayed and misunderstood I'd be very careful here folks. If there has been any form of misrepresentation or deception here, this stock will get killed. It's already on a premium rating. Anywho, no more from me just in case folk think I'm part of the worldwide shorting conspiracy :-D Posted to help folk. DYOR All the best.
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