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EEE Empire Metals Limited

7.00
0.60 (9.38%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Empire Metals Limited LSE:EEE London Ordinary Share VGG3036T1012 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.60 9.38% 7.00 6.80 7.20 7.10 6.50 6.55 9,088,266 15:50:23
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Gold Ores 0 -1.16M -0.0024 -29.17 34.47M
Empire Metals Limited is listed in the Gold Ores sector of the London Stock Exchange with ticker EEE. The last closing price for Empire Metals was 6.40p. Over the last year, Empire Metals shares have traded in a share price range of 1.60p to 14.25p.

Empire Metals currently has 492,364,368 shares in issue. The market capitalisation of Empire Metals is £34.47 million. Empire Metals has a price to earnings ratio (PE ratio) of -29.17.

Empire Metals Share Discussion Threads

Showing 801 to 822 of 18425 messages
Chat Pages: Latest  41  40  39  38  37  36  35  34  33  32  31  30  Older
DateSubjectAuthorDiscuss
23/11/2011
13:27
Induna, That's Nonsense; there is life yet in the old dog. It has survived and it's gonna thrive... If you're not invested in it, why not go away?
daniel
09/9/2011
13:37
Barnsey, you haven't done your research. I've said it before, these guys are technically insolvent.
induna123
12/8/2011
10:38
Spike time ?
kinghorm23
26/7/2011
14:31
Look's to be holding gains made yesterday and hopefully today, gives the feel
it could fly at any moment, who knows what a little good news might do.

barnsey
26/7/2011
08:50
Because it is selling residential properties in a growing market and is sat
on millions of pounds in assets and it is fully funded, it really is not hard
to work out, strong buy at these levels, DYOR.

barnsey
26/7/2011
08:17
Why is this one moving up today?

Not much stock available, only 15,000 shares at 4p.

zendik
26/7/2011
07:42
A lot's changed since then mate. Weren't these technically insolvent not too long ago? They couldn't pay their polish builders.
induna123
26/7/2011
07:37
Engel East Europe BUY
21/08/2006



A healthy set of figures from Central and Eastern European property developer Engel East Europe proves its capabilities and a whopping €1.2bn (£817m) sales pipeline provides an indication of its voracious ambition.

The company is focused on residential properties and was established in 2000 as a subsidiary of Israeli property developer Engel Group, whose founder Joseph Engel is chairman and major shareholder of this venture. The company focuses on the Czech Republic, Hungary, Poland, Bulgaria, Serbia and Romania. Since floating on AIM last December with 10,000 units the group has secured nine new sites and, says finance director Nir Netzer, has 'at least 1,000' residential units in each of its territories, apart from pricey Serbia.

Of recent deals signed Netzer is excited about one in particular, saying it's 'a lot better than the rest of the market is getting'. Heitman – one of the biggest real estate fund manager in the US, if not the world, with $14bn (£7.7 bn) assets under management – is pouring €22.4m into a second joint venture with Engel.

House broker KBC Peel Hunt says such joint ventures, which provide up-front cash, helps Engel expand 'on a hugely cash efficient basis'. Management claim sales prices in much of Central and Eastern European have increased recently and are confident that their 'scope of activity will increase substantially in the near future'.

Interim results to June showed net assets increasing 25% to €54.5m and net cash of €36m. Profit before tax of €12.1 was up from €1.8m on revenues up 147% to €23.2m. The company will pay a €0.021 interim dividend too.

Previous earnings forecasts put the shares on a forward p/e of 11.1, but KBC has upgraded its pre-tax profit forecasts 21% to €19m for the full year. When earnings numbers are clarified the shares are likely to be on a p/e under 10. Buy.

Sector: Construction & Materials

Companies: Engel East Europe

Market cap: £107.53mPE Forecast: 11.1
Share price: 122.5p



Engel profits in the East BUY
06/11/2006


Sitting astride a €1.2 billion pipeline of Central and Eastern European property, Israeli-run Engel East Europe is one of the major residential property developers in the region. Finance director Nir Netzer reckons Engel may even be the biggest: 'we are involved in developing around 15,000 residential units and I'm not aware of many with even 10,000.'



This helps to explain why it is winning some of the choicest slices of land. For example, Engel won the municipality of Belgrade's bidding round to develop the massive Marina Dorcol project. This will see a prime spot in the city's crowded Old Quarter on the banks of the Danube developed into a mixed-use development of 600 residential units, a shopping mall, restaurants, cafés, offices and a marina. Sales of €160 million are estimated, with remarkable margins of around 60 per cent. 'This is the jewel in the crown of Serbia, so why did the municipality come to Engel? Because we can deliver! From the municipality's point of view it is risky as they don't know the market and their currency is not the most stable. They needed a developer with a track record.'

Led by executive chairman and 66 per cent shareholder Jacob Engel, who has 30 years' experience in the industry from building his Israeli business into one of the country's major players, EEE is capitalised at not much more than £100 million and operates in the Czech Republic, Poland, Hungary, Bulgaria, eastern Germany, Romania, Serbia and even, strangely, Canada.

Most of these European economies are growing at rates of around five per cent and developers are benefiting from urbanisation and the desire of their more prosperous citizens to move into better housing. In some regions, inflation is driving up house prices too.

The company has secured ten new projects since arriving on AIM, to add to its existing projects, with combined sales on these amounting to around €500 million
(£336 million).

Cash levels stood at €36.1 million at the end of June, although non-bank loans of €12 million have to be repaid. 'We're using our cash slowly and wisely,' says Netzer, 'trying to buy land in return for a percentage of sales – so we're not paying too much [up front].'

The Belgrade Marina project also demonstrated one of Engel's techniques for leveraging its own cash and minimising its risk, especially for tying up bigger deals. It sold a 30 per cent stake in the project for €11.9 million to a 'prestigious' emerging markets fund, which Engel estimates will produce pre-tax profits of €9 million. For other large projects Engel has been working with joint venture partner Heitman, a large US investment fund, which has poured in large amounts of money usually in exchange for 50 per cent of sales. Says Netzer: 'We like them as we're not as exposed – we're booking profits from the first day.' Heitman is currently collecting cash for its third fund – so more joint ventures could materialise in the future.

Revenues for the first half were up 147 per cent to €23.2 million as the group completed the first phase of projects in Budapest and Warsaw and received the equity investment from the second Heitman joint venture. Profits before tax arrived at €12.1 million, above forecasts because profits were made on apartment sales that were not anticipated until the second half. The group even paid an interim dividend of 0.21c. Future payments may be withdrawn if a 'special opportunity' arises where the company chooses to put a much larger chunk of its own cash into a project, meaning 'shareholders will get a much greater share price,' says Netzer.

Upgraded estimates for the full year from house broker KBC Peel Hunt, 46 per cent ahead of forecasts at the time of flotation last December, point to pre-tax profits of €19 million. Netzer boasts that current projects in development, even if not added to, would still easily justify investment in the company – and Mike Foster at KBC agrees. Engel is going to buy more choice parcels of land, moving wherever the margins are best and according to KBC, expanding 'on a hugely cash-efficient basis'.

The shares are languishing not much above the float price, which is too low considering the growth delivered and promised. Buy.


Companies: Engel East Europe

readytotrade
25/7/2011
13:51
Monday, July 25th, 2011



DescriptionGalleryVideoMap3D ViewOfferer
APARTMENTS

Emilii Plater 10
Warszawa, Śródmieście, ul. Emilii Plater
Engel East Europe-Poland
Total price: contact developer
Price per sqm.: contact developer
Area: 44.30 - 124.70 sqm.
Number of rooms: 1 - 4
Floors: 1..6
Completion date: completed
Offer type: flat
Net flat height: 2.75 m
Investment all offers count: 74
Overground tier count: 9
Underground tier count: 2

Additional area type: balcony, other
area: to 23.00 sqm.
Storage area type: resident's utility room
Garage: underground parking place optional
payable extra
Update: 2011-07-18

Contact the offerer
name and last name
phone

e-mail address

Entering phone number will quicken the contact
message

additional information:
mortgage offer
fit out offer
oferta ubezpieczenia
send me a copy of the message
SENDSENDSEND
Your personal data will be transfered according to site regulations
Fit out redNet Dom Sp. z o.o. from 161 €/sqm. FIND OUT!

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Current investment offer list

class offer no. area rooms floor price per sqm. total price projection show details
apartment
1.4.2
44.30 sqm.
2
3
contact developer
contact developer


apartment
1.6.3
48.10 sqm.
1
5
contact developer
contact developer


apartment
1.5.4
48.50 sqm.
1
4
contact developer
contact developer


apartment
2.7.2
48.90 sqm.
1
6
contact developer
contact developer


apartment
1.5.5
85.10 sqm.
3
4
contact developer
contact developer


apartment
1.6.2
86.90 sqm.
3
5
contact developer
contact developer


apartment
3.4.4
112.80 sqm.
3
3
contact developer
contact developer


apartment
1.6.1
114.40 sqm.
4
5
contact developer
contact developer


apartment
2.5.3
115.40 sqm.
2
4
contact developer
contact developer


apartment
2.4.3
117.00 sqm.
2
3
contact developer
contact developer


apartment
2.6.3
117.00 sqm.
3
5
contact developer
contact developer


apartment
3.2.1
123.60 sqm.
3
1
contact developer
contact developer


apartment
3.5.1
124.70 sqm.
3
4
contact developer
contact developer


apartment
3.6.1
124.70 sqm.
3
5
contact developer
contact developer


Finishing description

Additional equipment:
safeness installations
ventilation sprinkler system smoke detector fire detector access control
electric mains
electrical installation without lighting entry phone structural cabling internet installation electricity
services
water points closed by valves plumbing from polyethylene sewage plumbing from PVC central heating with panel radiators hot and cold water meter electricity meter cold water supply hot water supply sewage plumbing sediment tank
flooring
smooth cement floor
stairs
wooden stair rails floor tiles stone floor
walls
plaster on walls wet plaster wall paint
carpentry
wooden window frames wooden entry door internal window sills conglomerate external window sills with galvanized sheeting galvanized steel coated
ceilings
suspended ceiling

Engel East Europe-Poland
investor
00-024 Warszawa, Al. Jerozolimskie 44
call the offerer
www.emiliiplater10.pl
Engel East Europe-Poland – real estate offers
Kontaktując się ze sprzedającym, powołaj się na serwis tabelaofert.pl. W ten sposób przyczyniasz się do rozwoju portalu.
Prosimy o to i dziękujemy.

readytotrade
25/7/2011
13:37
i certainly would buystock and quickly
readytotrade
25/7/2011
12:05
readytotrade is buystock
jonnyfro
25/7/2011
12:01
he doesnt

he told lies on PTCM bb..

isnt that right ready2pump?

moreforus
25/7/2011
11:53
How do you know?
topinfo
25/7/2011
11:37
Property sale news on the way £10.5m
readytotrade
24/7/2011
19:44
"The good news about Poland is that house prices have been rising (by 8 per cent in 2010)"
roomb
22/7/2011
08:00
This share is not without risk, but there is massive upside potential.
That's why I'm a holder.

roomb
21/7/2011
21:53
Strong growth predicted for Polish residential market
barnsey
21/7/2011
21:40
Research for serious shareholders which gives a true reflection of sales
in half year 2011.
The market would seem to be still active with regular sales so far but dyor.

barnsey
21/7/2011
15:07
Below is what they are actually doing not what some stranger on a b/board says
they are doing after viewing his crystal ball.
And believe me when they turn this round which they will because there are a lot of big players involved here and they will not let this fail you will be
surprised at the share price reaction, for these reasons i am a buyer dyor.



CHIEF EXECUTIVE OFFICER'S STATEMENT
Gad Raveh
Chief Executive Officer
Despite the challenging environment, by focusing on
key countries and carefully managing our resources,
we expect to be able to maintain and expand our
development activities and sales in 2011, as well
as build a medium and long term strategy for the
Group. This will be achieved by our intention to
introduce new and innovative real estate activities,
development of carefully chosen new sites and
management of income producing assets. In doing
so, we are implementing our expertise and track
record experience, in the search and acquisition of
depressed assets that have neglected and hidden
high values.
In the course of the last 12 months we have seen
a slow, but steady positive change in the East
European real estate market. There is an ever
growing demand for small sized apartments which
are affordable to a greater proportion of the
population.
This demand creates a requirement for a different
kind of development of smaller apartments well
adapted to the market, which can be developed and
sold in a shorter time frame and at an affordable
purchase price to a wider market.
Whilst this change results in a lower overall level
of revenue and profits per unit, these results are
compensated by the shorter time required from
inception to delivery.
In these circumstances, we are tailoring our product
to suit the current demand and have moved much
of our focus in the light of these market trends,
resulting in a lower financial resources requirement
and a greater ability to increase our production
capacity.
Having said that, we have and are moving our
attention and part of our action plan, including
some of our resources, towards the development
of a new division of income producing properties.
This will prove to be an important angle, that will
complement our traditional development activities,
and will assist in our cash flow needs

barnsey
21/7/2011
13:11
"but if and when it has disposed of eee assets there's nothing left other than a shell ?"
Yes, but that's the risk.
But it's not what they've said they're going to do :
"GBES has agreed that Engel will be provided with sufficient financial resources to meet its short term working capital requirements, and ERD has initially made a short term loan of €250,000 to Engel. This will provide Engel with sufficient working capital to enable it to continue its programme of divesting itself from its non-core development projects and to focus on completing the development of the projects it believes will provide the best return for shareholders."
There's also the possibilty that there will be much more left.
EEE also has income, and has drastically reduced costs.
See my post 780.
What's your interest in this share? You clearly don't intend to buy any.

roomb
21/7/2011
12:45
roomb - 18 Jul'11 - 18:20 - 775 of 781

"ERD not eee" yes, that's right. But ERD own most of the shares in EEE, so they don't want it to go bust.
--------------------------------------------------------
of course not, but if and when it has disposed of eee assets there's nothing left other than a shell ?

As a eee shareholder you are a debtor of ERD. The money went to ERD, not EEE. You never got anything in the deal. Nothing ! !

All that happened is they managed to continue as a going concern and could also sign off EEE accounts, had they not done so someone else would have taken their assets.

envirovision
20/7/2011
07:35
I very quickly and roughly added up the value of the sold, reserved and pre-reserved flats in the this development and came up with a figure of roughly £5 million.
I'm not sure what reserved and pre-reserved mean, but there is clearly potential for a much higher share price
Perhaps someone would like to check the figures?
By the way, when I was in the Czech Republic in 1996 I remember the exchange rate was about 40 Korunu to the pound-now it's 28.
If the reserved/sold flats go for 5m, that's more than double the market cap of the shares.

roomb
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