Integrated Diagnostics Share Discussion Threads

[triskelion] 11/1/2024 14:07

Interesting.
RNS 26 October 2023 "Integrated Diag Hdgs - IDH CEO increases stake in the Company" says "Chief Executive Officer, Dr. Hend El Sherbini, has completed the purchase of an additional 2.0 million shares in the Company. The purchases were completed between 10 October 2023 and 16 October 2023 by Hena Holdings Limited"
Without spending time on it I see in SharePad buys $228,529.14 and $122,240.30 on 16 October of type OB whatever that is; $348,720.00 on 13 October ditto.
I haven't checked for possible misdescription of buys as sells but it does seem only a lot of small trades not aggregating to the necessary remainder in that period.
Also noteworthy is the RNS ends: "It is worth highlighting that transactions completed by Hena Holdings, Lord St John of Bletso, and Ms. Yvonne Stillhart were conducted on the London Stock Exchange."

So dunno w/o spending time.
Also presumably the Egyptian pound continues to hamper progress.

[researchcentre123] 23/10/2023 17:33

Can someone explain please why there is a large market cap here compared to almost zero volume - yet apparently over 1m shares were purchased by the CEO?

[brucie5] 17/2/2023 13:58

Sold out of these, for the record. And not a fine one at that; but I hope the business survives in what seems to be torrid currency times for the EPD. As to that, a few lessons learned. Shame, but there we are. I shall now watch supportively from the sidelines.

[brucie5] 07/2/2023 09:36

Than the alternative.

[johnthespacer] 31/1/2023 13:05

I am no expert but they will have spent a fortune trying to sort this acquisition and now it has fell through so that spend will be written off with no benefit.

So good RNS? Not so sure

[brucie5] 31/1/2023 09:26

Noone on this board?
Good RNS this morning, I think. Horns in time.

[brucie5] 06/12/2022 14:41

Finally - (and then I'll stop!) I notice that IDHC was included in Mark Simpson's 40 stock folio for income investing, back on October 26. Important to stress it's a highly diversified folio, so can afford some geographically specific headwinds - no doubt the case with IDHC.



He used this screen to generate the folio:

Market Cap > £150m.
TTM Earnings Yield, Rank in Market > 60%
TTM Dividend Yield, Rank in Industry Group > 60%
1-Year Rolling Dividend Yield, Rank in Industry Group > 60%
Net Gearing, including Pension < 50%

This portfolio is forecast to yield 7.2%, and 17 of the constituents have bought back shares within the last month. This is a very reasonable income from a (hopefully) well-protected portfolio.

Note: Though yielding above average for his folio, IDHC did not satisfy this last bit about director buy-backs, though as stated in previous posts, the CEO has a very high level of share ownership already!

[brucie5] 06/12/2022 13:13

REWARDS
Trading at 75.8% below our estimate of its fair value

Earnings are forecast to grow 21.67% per year

Trading at good value compared to peers and industry

Analysts in good agreement that stock price will rise by 30.3%

RISK ANALYSIS
Dividend of 12.97% is not well covered by earnings or cash flows

High level of non-cash earnings

Profit margins (16.8%) are lower than last year (27.8%)

[brucie5] 06/12/2022 13:09

Hmm. Large buy reported here: wonder if it's the boss' investment proxy hoovering up off the floor again. She owns c. 26% of the company, I believe.

06-Dec-22 12:45:55 0.686 300,000 Buy* 0.672 0.70 205.80k

This link is quite interesting in showing who the buyers/sellers have been over last months.

[brucie5] 06/12/2022 08:39

I may have made a mistake by holding, nevermind adding here. But I do notice that the dividend was paid in full to small investors over the summer, at at 8.6% current, it's still an income stock. But also the ROE, ROC and operating margin are all top in their sector. So a nifty business, with severe currency headwinds.

[thorpematt] 05/12/2022 12:32

Brucie5,
I also hold CAML, really like it. I don't perceive the liklihood of Russian invasion is particularly high right now. Th market seems to have priced that in.

ITV is interesting. Historically it has very high quality metrics and logic says that if it can navigate the changes in the way people view content then it should do really well but I certainly am no expert in te sector.

[brucie5] 05/12/2022 11:43

Thanks Thorpematt. That's what I feared. Nevertheless, I have actually topped up this morning with some proceeds from the WEN bid. Not a huge amount, but it's sunk so much (40%) from my original buy in, while continuing to pay me good dividends that I feel able to take that risk - effectively buying down the EGP, in the prospect that the business will outlast this particular crisis. Probably at the riskiest end of my folio, which also includes CAML, where I also added. Main addition, btw, was to ITV, which I now see as very bullish with launch of ITVX and under the transformative leadership of Dame Carolyn McCall.

But wdik - NAI, obviously!

[thorpematt] 05/12/2022 11:30

Brucie5,
I thought the TS was fine BUT no I don't hold any more and the reason for that is purely the currency issue.

I am talking EGP / GBP

I have not got time to post links but Egypt is struggling with the side effects of increased grain prices (I think they are one of the largest consumers of Ukrainian product). This is giving huge inflationary pressure to the EGP and recent devaluations of course affect IDHC's re-patraited earnings.

In the end a holding here, becomes more of a play on USD/GBP/EGP than it is a play on the company itself. WHich is a crying shame, because I really liek it but the EGP is currently something I am struggling to quantify in the mid-term.

[brucie5] 05/12/2022 11:10

Noone passed comment on these. Thorpematt, do you still hold?
Business on the ground appears to be doing well, though depreciation of the EGP.

3(rd) Quarter Results

Thursday, 17 November 2022

Integrated Diagnostics Holdings Plc reports sustained growth in non-Covid offering showcasing the fundamental strength and potential of the business

(Cairo and London) - Integrated Diagnostics Holdings ("IDH," "the Group," or "the Company"), a leading consumer healthcare company with operations in Egypt, Jordan, Sudan and Nigeria, released today its reviewed financial statements and operational performance for the nine-month period ended 30 September 2022, reporting revenue (compliant with IFRS) of EGP 2.8 billion. In line with the trend seen earlier in the year, IDH's conventional business (which includes IDH's full service roster excluding Covid-19-related tests) continued to showcase its underlying strength and potential, delivering a solid 14% year-on-year expansion, partially offsetting the expected decline in Covid-19-related(1) revenues for the nine-month period. Growth at IDH's conventional business (which made up 76% of total revenues) was supported by a solid 7% increase in test volumes, testament to the robust underlying demand for the Company's conventional test portfolio. Likewise, on a quarterly basis, conventional revenues expanded 17% year-on-year and 12% quarter-on-quarter in Q3 2022, making it the strongest three-month period performance ever recorded by the Group's conventional offering. Meanwhile, consolidated revenue for the third quarter stood at EGP 846 million, with the Group recording a net loss of EGP 36 million in Q3 2022. It is important to note that controlling for the losses resulting from transactions completed by the Company to secure the USD balance needed to fulfil its FY2021 dividend obligations to shareholders, the Group would have recorded a net profit of EGP 544 million in 9M 2022 and EGP 105 million in Q3 2022.

[thorpematt] 19/10/2022 15:36

political risk

currency risk

post COVID reduction in forecasts overselling

execution risk (expansion plans)

recessionary risk (in particular for populations dependant on low cost grains to feed themselves against a backdrop of food inflation

That's about what I came up with. I hold BTW.

[researchcentre123] 19/10/2022 10:35

Hi can someone explain to me why this is on such a low PE ratio please? On the face if it it doesn't make much sense

[brucie5] 07/9/2022 10:49

I may have misread it but...

[raleigh43] 17/8/2022 15:02

Great article.

[brucie5] 16/8/2022 18:49

Thanks for that correction-how did I not know! Still more impressive.

[brucie5] 16/8/2022 14:28

CEO now owns almost 27%. He'll have to offer a bid soon.
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