Foseco Share Discussion Threads

[rivaldo] 23/7/2007 11:49

Ta grigor. The share price continues to push steadily upwards - nothing like an ISAble share which continues to rise.

[grigor] 18/7/2007 16:42

Steel demands push Rio to new iron production record

[rivaldo] 18/7/2007 06:47

Impressive progress being made per this news dated July'07:



"Busiest GIFA yet for Foseco

The Foseco group of companies recently presented in Düsseldorf, Germany at GIFA - the largest and most important foundry fair in the world.

New technologies highlighting reductions in costs, improvements in productivity, environmental benefits and energy conservation were displayed.

The 806 m2 stand was divided into three areas - ferrous foundry, non ferrous foundry and mould and core - and drew an unprecedented number of visitors.

According to the Düsseldorfer Messe company 77,000 visitors travelled to the four industrial exhibitions - approximately 8% more than in 2003 - and the share of international visitors increased. This was reflected on the Foseco stand.

"Visitor numbers exceeded all expectations. We had representatives from across the globe manning our stand and all of them were constantly busy. Intensive technical and commercial discussions were held and we generated twice the number of leads to follow up from the last GIFA," commented John Sutherland – Marketing Manager Foundry Europe.

A variety of casting exhibits in iron, steel aluminium and copper highlighted the latest applications of feeding and filtration solutions including FEEDEX K compressor core sleeve technology for high pressure moulding applications and the new generation of KALMIN 250 custom-designed sleeves for aluminium.

Castings were also on show demonstrating the latest environmentally friendly binder systems and coatings with improved insulating properties.

Equipment demonstrating the latest advances in iron and aluminium metallurgical control were also highlighted. The new MSI+ DC metal stream inoculation system combines accurate dosing technology with thermal analysis and digital image recording.

Hourly demonstrations of the new MTS 1500 one-step automatic degassing and melt treatment system drew large crowds.

Both systems represent a significant improvement in metallurgical control and thereby consistency of mechanical properties.

At the Casting Competence Center, Foseco and MAGMA Gießereitechnologie presented numerous case studies highlighting the successful application of foundry process simulation, in combination with the most effective use of feeding and filtration products and application expertise. Also featured was the FOSECO Pro Module; a geometry and material properties database, specifically designed for MAGMASOFT®.

Foseco was also a main sponsor of the World Foundry Congress, presenting two technical lectures at the Congress and a further two at the Lost Foam Council."

[rivaldo] 16/7/2007 14:27

Hi Philo....and it seems your timing is good :o))

I'm nicely up, but happy to have these ISAd away and wait for a breakout, which I think could happen quickly following the excellent H1 trading statement and in the run-up to results on (lucky for some) 13th September.

[philo124] 16/7/2007 13:52

Hi Rivaldo, bought back in at last week 203p having got out sometime ago
at similar price, having been in since the beginning. Timing is everything.
Regards
Philo

[rivaldo] 12/7/2007 21:38

Many thx Tole. FOSE looks ideal for an ISAble stock. Nice and cheap - 250p should come along soon enough, and then on to 300p based on 21p EPS going forward.

[tole] 12/7/2007 16:30

Foseco "buy," estimates raised

Thursday, July 12, 2007 6:21:41 AM ET
Panmure Gordon & Co

LONDON, July 12 (newratings.com) - Analysts at Panmure Gordon reiterate their "buy" rating on Foseco Plc (ticker: FEO-GBX), while raising their estimates for the company. The target price is set to 250p.

In a research note published this morning, the analysts mention that the company's interim trading statement was upbeat, indicating underlying growth for the first five months of 2007 ahead of the estimates. The output boom in Germany, China and India is boosting Foseco's performance, the analysts say. The EPS estimates for 2007, 2008 and 2009 have been raised from 14.5p to 15.3p, from 16.7p to 17.6p and from 19.9p to 21.0p, respectively.

[rivaldo] 11/7/2007 08:36

I see that Bridgewell are forecasting 19.3p EPS next year. They're currently neutral, but that's their style - they generally start cautiously and then upgrade.

FOSE is pretty strong in this weak market. Decent ISAble upside to that 250p broker valuation too.

[rivaldo] 02/7/2007 14:32

There's a new 5 page report out today on FOSE by Edison:



Main points:

- FOSE trades at a 15% discount to its competitors and its sector average
- double digit growth forecast for the next 2 years
- profit forecasts have just been raised to:
16.1p EPS this year
18.2p EPS next year

Enough said - plus the company is buying in its shares like they're going out of fashion. And FOSE is ISAble.

PS : the report on TRI on the same page makes even better reading imo!

[grigor] 27/6/2007 18:59

Still very cheap with a forward PE of 13-14

[dixi] 27/6/2007 08:46

Most pleasing, turned the price round nicely!

[rivaldo] 27/6/2007 08:15

Good on FOSE if so, nice to see a company able to respond promptly and confidently. The previous year FOSE updated on 6th July, so actually there's no discernible trend anyway.

The 250p broker target should be achievable soon hopefully.

[quickmind] 27/6/2007 08:04

Last year's pre-close H1 TS was out in mid July. I suspect that the company notice recent share price weakness and decided to bring the update forward.

[rivaldo] 27/6/2007 06:30

Lovely trading update just out - couldn't read any better. And ISAble too :o))



"Foseco, a global leader in the supply of consumable products to the foundry and steelmaking industries, will announce interim results for the half year to 30 June 2007 on 13 September 2007.

Trading in the first half has continued the growth trend reported at the time of the AGM. Group sales for the five months to the end of May 2007 were £178m, 8.1% ahead of 2006 at constant exchange rates.

The Foundry business has maintained its positive momentum, delivering sales 9.1% ahead of 2006 at constant exchange rates. The underlying markets served by
Foundry remain buoyant.

Our significant investment in international expansion and new products continues in Foseco Steel. Sales were 4.2% ahead of 2006 at constant exchange rates, despite reduced steel production in North America.

Overall, positive trends are continuing in Foseco's markets and the Board is
confident that the business will deliver robust performance in the second half
of the year. The Board expects that this momentum will translate into strong
sales growth for 2007 as a whole."

[rivaldo] 26/6/2007 15:26

Pinemartin, the recent AGM allowed for buybacks of up to 5% of FOSE's issued share capital. Plenty of leeway for more buybacks!

[pinemartin9] 26/6/2007 15:13

I like this share although not currently in. Does anybody know the extent of the share buy back scheme? What do they plan in total? So far they have bought back 2,685,000 shares corresponding to 1.56% of the original share capital. Shame they paid over the current price for them, but encouraging that they still see value at those prices. Also good that they have embarked on a buy back AND raised the dividend recently.

Looks like this could be a good opportunity to buy in. If anybody has anyideas re the buy back I would be appreciative - maybe someone here went to the AGM?

Thanks
PM

[sruk77] 23/6/2007 22:11

Monday's a great chance to buy in - I see 10% short-term upside.

[1964steve] 22/6/2007 11:46

I agree but having topped up my holding yesterday I was rather hoping not to see the price slide below support at £2!

[dixi] 22/6/2007 10:09

But the trend is up (longterm, that is), so I will continue holding here.

[1964steve] 22/6/2007 09:43

Any clues why the share price is continuing south?

[pricemilne5] 15/6/2007 10:53

This is further great news, i'm sure the share price will rise in response eventually!

[rivaldo] 15/6/2007 06:39

And another huge buyback:



"Pursuant to the requirements of LR 12.4.6, the Company announces that in
accordance with the authority granted by shareholders at the Company's Annual
General Meeting on 16 May 2007 it has purchased for cancellation, through
Collins Stewart Europe Limited, 500,000 ordinary shares of 25 pence each on 14
June 2007 at a price of 205.7875 pence per share."

Pricemilne5, FOSE drifted a little in the market pullback, that's all imo.

Evidently the management feel FOSE is much undervalued given all the buybacks. And remember the analyst target price was raised not long ago to 250p.

[pricemilne5] 06/6/2007 18:04

Can anyone hazard a guess as to what's gone on here?