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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Lexington Gold Ltd | LEX | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
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|---|---|---|---|---|
| 0.05 | 1.19% | 4.25 | 10:32:34 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 4.20 | 4.20 | 4.25 | 4.25 | 4.20 |
| Industry Sector |
|---|
| MINING |
| Top Posts |
|---|
Posted at 31/7/2023 07:23 by burtond1 Will the latest inflation data open the way for speculative small caps to come roaring back amidst the gloom of the past couple of years?https://total- |
Posted at 13/4/2023 06:46 by burtond1 "...Well chosen gold miners can offer premium returns above the gold price and a more rapid appreciation than the product they sell. Investors looking for value might look beyond the mining majors to small gold miners..." Below we pick out a 14 small cap gold miners worth watching : https://total-market |
Posted at 21/6/2022 05:45 by burtond1 Time to buckle up tight for the Lexington Gold ride..."...Ongoing exploration is funded by a £335,000 unsecured convertible loan secured this April from 'two significant #LEX shareholders and three directors'. The loan's conversion price was set at 30.6pc above the prevailing market share price, indicating the investors' confidence in the company's future..."https://tota |
Posted at 23/3/2021 19:45 by excellance I suggest this is also under the radar, an unknown entity, and most investors have their funds tied up elsewhere, so, any decent news and the £9m mkt cap will be a tiny dot in the rear view mirror. |
Posted at 04/2/2021 01:01 by seagreen Well you clearly have no investor experience making a juvinile gross over generalisation like that.......utterly pathetic or a poor attempt at deramping to pick up cheap stock....With Covid no one has a clue about time tables for sure. I have at least 25 years of AIM investing experience and I am not advising anyone to do anything or have a clue when anything will happen. i like the project, the management and respect the people invested that is all.Depressing the idiots on ADVFN these days ,,,,,go back to your teddy bear and hot choclate in your cot |
Posted at 02/2/2021 20:40 by 32campomar Yes it does look promising. But AIM shares like this almost always drift southwards with no news. Doesn't matter how good the potential is. Anyone with any investor experience would acknowledge that. |
Posted at 05/1/2021 18:33 by excellance To be fair same happened at CHF before RNS's began to reveal the story to retail investors.So far LEX have only got themselves into a position to do some work, but haven't really presented their story to a wider audience other than insiders. When are they going to start drilling? Still a long way to go, and they haven't really started yet. If they have started then they should be telling the investment world all about it. |
Posted at 11/4/2002 16:04 by zzaxx99 This got a "best of sector" recommendation in the "3 sectors to go for" article in Investors Week today. Dunno any more than that (I was skimming it in the newsagent).Have to admit, I've been watching it as a potential short (albeit not a terribly compelling one) - there's a bearish divergence beween MACD & Price, and price also looks to be tailing off into a top. |
Posted at 21/2/2002 07:52 by akastantheman Well here are the finals........I shall let those accountants amongst squabble over the figures....RNS Number:8016R Lex Service PLC 21 February 2002 PART 1 Lex Service PLC 2001 preliminary results statement 21 February 2002 Lex Service PLC announces strong profit growth; company to be renamed RAC plc Lex Service PLC, the motoring and vehicle solutions company, announces preliminary results for 2001 which demonstrate a year of strong growth and continued improvement in the quality of earnings. Results highlights Profit before goodwill amortisation, exceptional items and tax up 19% to £65.1 million. Earnings per share on this basis up 18% to 41.9p. Full year dividend increases by 4.8% to 22.0p per share. RAC Motoring Services contribution grew 50% to £39.0 million including £9.8 million from RAC Auto Windscreens. Value of long term business increased by 9% to £2.7 billion. Lex Service PLC proposes renaming as RAC plc. Lex Service Chief Executive Andy Harrison said: "Lex has been transformed over recent years with the acquisition of RAC and the divestment of our motor retailing activities. The benefits are clear, with a 19% growth in underlying profits, a substantial improvement in the quality of our earnings and exciting growth prospects." "Changing our name to RAC plc is the natural next step as we build on the inherent strength of the RAC brand. Lex will remain an important trading brand in the corporate vehicle market." Lex Service will seek shareholder approval for the renaming at its Annual General Meeting on 25 April 2002 and, subject to approval, will become RAC plc in September 2002. - ends - For more information contact: Paul Hewitt, Finance Director, Lex Service PLC 01628 843703 Niall Addison, Finance & Investor Relations Manager, Lex Service PLC 07764 624701 Kate Holgate / Michael Webster, Brunswick Group 020 7404 5959 E-mail: lex@lex.co.uk Website: www.lex.co.uk Lex Service PLC preliminary statement A clear vision for growth Through the acquisitions of RAC Motoring Services in 1999 and Auto Windscreens in 2001, and the exit from car retailing in 2000, Lex has been transformed into a strong support services company with unique motoring and vehicle expertise and a clear vision for growth in the consumer and business markets. The progress achieved in 2001 confirms the success of this strategy. There are considerable opportunities for further growth. In the consumer market RAC is continuing to grow its roadside business, with revenue up by 6% and customer numbers passing the two million milestone. In addition, revenue from non-roadside services grew on a like for like basis by 15% as the business continues to develop its comprehensive range of motoring solutions. In the business market Lex and RAC, benefiting from the growing trend towards outsourcing, won an unprecedented number of new contracts, increasing the revenue due from long term business by 9% to £2.7 billion. Together, these developments have improved the visibility and predictability of future revenue. We are developing a strong platform from which to address these growth opportunities: We intend to leverage the strength of the RAC brand by renaming the company RAC plc, while continuing to build the Lex brand in its corporate vehicle markets. The renaming will enhance our ability to attract and retain talent by developing RAC's strengths as an employment brand. In 2001 we launched a programme called Growing Stronger Together to realise profitably the links between RAC and Lex by pursuing joint growth opportunities and combining areas with similar skills and processes. This is reinforced by the new organisational structure announced in January 2002. We will continue to develop our track record for service excellence, demonstrated by customer retention and satisfaction rates and the record 22 service accolades we received in 2001. Operating performance Profit before goodwill amortisation, exceptional items and tax grew by 19% to £65.1 million (2000 - £54.6 million before disposal losses of £12.9 million). Earnings per share on this basis increased by 18% to 41.9p (2000 - 35.6p). The Board proposes a final dividend of 13.2p (2000 - 12.6p), which together with the interim dividend of 8.8p per share (2000 - 8.4p), increases the total dividend for 2001 by 4.8% to 22.0p per share (2000 - 21.0p). The dividend will be paid on 3 May 2002; the ex dividend date is 27 February 2002 and the record date is 1 March 2002. RAC Auto Windscreens' results were on track with a profit contribution of £9.8 million following its acquisition on 30 March 2001; net of interest the contribution was £5.3 million. This was partially offset by an increased pension cost of £3 million in 2001, which resulted from the erosion of our pension surplus due to the poor performance of equity markets over the past three years. The pension scheme is fully funded, although with no surplus remaining, and there will be a further increase in pension costs of £6 million in 2002. The financial and operating results for 2001 reflect the business groupings which were in place throughout the year: RAC Motoring Services - Consumer Services and Business Services Lex Business Services - Lex Vehicle Leasing, Lex Transfleet, Lex's mechanical handling activities and Lex Multipart Lex Vehicle Marketing - Hyundai, Isuzu Truck and Lex Commercials. Results for 2002 will be reported in line with the new organisational structure announced on 14 January 2002 (see notes to editors); the 2001 results will also be reported on a like for like basis. Continued growth in RAC RAC Motoring Services contributed £39 million to profit in 2001 (2000 - £26 million), including £9.8 million from RAC Auto Windscreens following its acquisition on 30 March. RAC achieved continued growth in its individual customer base, finishing the year with 2.03 million members (2000 - 1.95 million). Retention rates remained strong at 83% (2000 - 83%). Roadside revenues increased by 6% to £249 million (2000 - £234 million) and revenue from non-roadside services grew by 15% on a like for like basis to £125 million. RAC is making good progress towards its goal of being the first choice provider of a comprehensive range of individual motoring solutions, through growth in non-roadside services. BSM grew revenue by 12% and profit by 49%; Legal Services grew revenue by 44% and profit by 50%; and Financial Services reached the milestone of £1 million profit and wrote loans to the value of £34 million. RAC continued to grow the number of new members acquired via the internet: over 40,000 new members signed up online with RAC in 2001, up from 13,000 in 2000, with a substantial saving in acquisition costs. In response to changing customer needs RAC launched a number of innovative new products during the year, including RAC Routeminder, which provides travel information via PCs or mobile telephones; and RAC Platinum, a premier motoring package incorporating added benefits such as European assistance and travel insurance. RAC Auto Windscreens made strong progress in 2001 with revenues and underlying profits increasing, on a full year basis, by 7% and 22% respectively. The rebranding of the business as RAC Auto Windscreens is well underway. RAC Business Services performed well in 2001 and won significant new contracts, including Motability vehicle inspections; Consignia accident management; and fleet breakdown contracts with DaimlerChrysler Services and Lloyds TSB Autolease. Business Services' insurance claims handling division expanded into a new call centre in Manchester to support the services it provides to CGNU's three million motor insurance customers and to accommodate future growth. By the end of 2002 RAC will handle over 550,000 claims and over three million telephone calls on an outsourced basis for CGNU and other customers, a growth of 30% over 2001. RAC's quality of service was recognised by a series of prestigious industry awards in 2001, including being named top in all aspects of the independent JD Power roadside recovery service survey, the Fleet Excellence award for Top Recovery Services Provider and the Fleet World Honours award for Service Excellence. This progress continued when RAC was voted Top Recovery Services Provider for the second year running and Top Accident Management operation in the 2002 Fleet Excellence awards. We have now delivered much of the £30 million profit improvement forecast at the time of the RAC acquisition, with a stronger than anticipated performance, particularly on revenues, from the core RAC business activities. The performance of Lex Autocentres within RAC has, however, been disappointing. Whilst the link with RAC has delivered extra revenue, this has been more than offset by an erosion in Autocentres' base business. Our confidence in RAC's continued long term growth is reflected in a £10 million increase in our investment in infrastructure and systems, bringing the total investment programme to £30 million. The related costs will moderate our growth in 2002 but the investment will deliver substantial efficiency gains and enhanced revenue growth from 2003 onwards. Lex Business Services Lex Business Services, which delivers a broad range of co-ordinated outsourcing services to major public and corporate organisations, contributed £33.7 million in 2001 (2000 - £32.7 million) and received industry recognition for its service excellence through a record number of service awards. We are increasingly attracting customers who value our ability to provide a broad range of co-ordinated services, such as the Ministry of Defence and CGNU, and won a record number of outsourcing contracts in 2001. The successful implementation of the £500 million Ministry of Defence 'White Fleet' contract, supported by Lex Vehicle Leasing and Lex Transfleet, has further strengthened our partnership with the armed forces. In May 2001 Lex won a contract with BAE Systems to provide fleet management, parts support, mobile maintenance and workshop services, led by Lex Transfleet with support from Lex Harvey. We continue to focus on cross-selling among our Lex-branded businesses, achieving £20 million of additional revenue in 2001 (2000 - £12 million) with scope for further growth in 2002. The scale of the opportunity is demonstrated by the fact that Lex provides services to 50% of the FTSE 350 companies and less than 10% of our business customers buy more than one service from us. Lex Vehicle Leasing, our joint venture with Halifax plc, grew pre-disposal profit by 15% with our half share worth £17.1 million in 2001 (2000 - £14.9 million). Following disposal losses of £12.9 million in 2000 as a result of falling used car prices, Lex made a £45 million provision to reflect its half share of expected future losses. The used car market stabilised faster than expected in 2001 and disposal losses for the year were absorbed within the provision. The Board is confident that the remaining provision will be adequate to cover expected future losses. Lex Vehicle Leasing continues to focus on high quality new business and grew the contract hire fleet by 3% to 93,700 in 2001 as a result of a number of new contracts, including the Ministry of Defence White Fleet, Taylor Woodrow and TDG. The business developed its range of services with the launch of a fleet evaluation software called ViewPoint, which enables businesses to understand the impact on their fleets of the April 2002 company car tax reforms. Lex Vehicle Leasing won a series of service awards, including the Fleet Excellence Awards for Best Contract Hire Company and Best Overall Service Provider. Lex Transfleet, our commercial vehicle contract hire and fleet management business which is a joint venture with Lombard, made strong progress with profit growth of 71% and an increase in its managed fleet to 26,000 vehicles (2000 - 17,000). The business is focusing future growth around its fleet management capabilities. Lex Transfleet won the Institute of Transport Management award for Van Rental Company of the Year in both 2001 and 2002. Lex Fleet Software, which trades under the Tranman name, continued to grow new business, turnover and profit in 2001, and was highly commended for the Fleet Excellence Fleet Software award. The business expanded its product range with the acquisition of Servitor, a generic asset management product. Lex Multipart, our inventory management business, contributed £13.6 million in 2001 (2000 - £13.6 million). The business is structured in three parts, each providing dedicated service to its key market sector. Lex Auto Logistics, which provides automotive parts support, made good progress, reducing its cost base and growing new business, including a new five year aftermarket parts support contract with Fleetguard, part of Cummins Engines. Negotiations are continuing with Paccar to renew the DAF contract which expires in June 2003. Lex Multipart Defence, which provides parts support for the Challenger 2 tank in partnership with Vickers Defence Systems, has delivered significant efficiency gains to the Ministry of Defence and now operates a warehouse within the military base at Bicester, further strengthening its relationship with the MoD. Set against this progress was a disappointing performance from Multipart Universal which distributes all-makes parts for commercial vehicles; action has been taken to reduce the cost base to improve future performance. Lex Multipart won the East Midlands Business News Award for Services to the Automotive and Manufacturing Industry in 2001 and was a regional winner in the Trade Partners UK Languages for Export Award 2001. Lex's mechanical handling businesses were restructured during 2001, exiting the unprofitable distribution activities amid continued difficult market conditions. UK contract hire and maintenance margins fell as older contracts were renewed at today's lower prices; together with restructuring costs this reduced the business's contribution to £1.3 million (2000 - £2.9 million). We have reduced the cost base by £1 million, together with an emphasis on the quality of new business to ensure the profitability of future contracts. For the longer term we will develop our strong national mobile maintenance capability for a broad range of industrial equipment, which we view as an important part of our business solutions portfolio. Vehicle Marketing Vehicle Marketing contributed £6.2 million in 2001 (2000 - £6.0 million). Hyundai maintained its overall registrations at 27,800 (2000 - 27,200) and market share at 1.10% (2000 - 1.18%), with increased dealer registrations offset by the withdrawal from daily rental contracts. Four new models were launched successfully during 2001 - the Elantra and Sonata saloons, Santa Fe sports utility vehicle and Matrix mini-multi-purpose vehicle - establishing Hyundai as a competitor in all major market sectors. This was followed in January 2002 by the launch of the new Hyundai Coupe to critical acclaim from the motoring press. The strength of Hyundai's customer service was recognised when its Customer Support team was awarded the 2001 National Customer Service Award for Best Complaints Handling Team by the Institute of Customer Service. Lex Commercials, our network of commercial vehicle dealerships, continued to grow profit and reduce capital employed as it has done consistently for the past three years. The business grew sales of new trucks and increased its local retail market share. Quality of service was reflected by the fact that Lex Commercials held seven of the top 10 DAFaid service league positions, including first place throughout 2001. Our Isuzu Truck importership made a loss during the year because of the movement of the yen against sterling. The competitive position has been restored for 2002. Isuzu Truck was named a best practice organisation for both leadership and customer service by the Department of Trade and Industry in 2001. Financial results for 2001 Profit before goodwill amortisation, exceptional items and tax grew by 19% to £65.1 million (2000 - £54.6 million before residual value losses of £12.9 million). Earnings per share on this basis increased by 18% to 41.9p (2000 - 35.6p). Operating exceptional profits of £1.8 million are after one-off integration costs of £5 million in respect of RAC and RAC Auto Windscreens. A gain of £6.8 million was made on the release of the provision set up against the litigation involving RAC when it was acquired by Lex. Exceptional profits of £9.3 million reflect the £25.3 million gain made on the disposal of our remaining holding in Synnex, a Taiwanese electronic components distributor, offset by net losses incurred on the disposal of businesses, primarily within Mechanical Handling, of which £6.8 million related to goodwill previously written off. Goodwill amortisation of £13.9 million includes, in addition to a normal charge of £6.3 million, £7.6 million which has been written off in respect of Lex Manutention and Kellett. After goodwill amortisation and exceptional items, profit before tax was £62.3 million (2000 - loss before tax of £17.5 million), with earnings per share on this basis of 39.5p (2000 - loss per share of 9.5p). The group tax rate on underlying profit was 26% (2000 - 26%) which is expected to rise to 31% over the next three years. Net debt excluding asset finance increased during the year by £94 million to £197 million, primarily as a result of the acquisition of RAC Auto Windscreens and our investment in RAC's systems and infrastructure. This was partly offset by the sale of our remaining stake in Synnex for £46 million. Our interest cover remains healthy at 7.4 times. Board appointments In December 2001 Deputy Chairman Victor Benjamin retired from the Board as a non-executive director. During his 30 years on the Board he made a very significant contribution to the company's deliberations and provided a strong and independent view to the Board. We thank him for his service and wish him well in the future. We also thank Graeme Potts, Managing Director of RAC Motoring Services, who has stepped down from the Board. We welcome Peter Long, Chief Executive of First Choice Holidays plc, who was appointed to the Board as a non-executive director in February 2001; and Dianne Thompson, Chief Executive of Camelot Group plc, who joined the Board as a non-executive director in February 2002. An outlook of continued growth The company has now been repositioned as a strong and unique support services business based on motoring and vehicle solutions, with a clear vision for growth in consumer and business services. The strong performance in 2001, together with the increased investment in RAC and the development of our brand strategy, augurs well for long term growth. Our momentum has continued into the early weeks of 2002 and the business is performing in line with expectations. - Ends - Notes to editors: Lex Service provides motoring and vehicle solutions to individual and business customers through five inter-related divisions: RAC Consumer Services sells a comprehensive range of motoring solutions to individual customers, including financial, legal and travel services, RAC Auto Windscreens and BSM. RAC Business Solutions sells motoring and related business solutions to business customers and manages complex outsourcing bids for large public and private sector organisations. Lex Vehicle Leasing is the UK's leading car and van contract hire company, providing solutions for fleets of all sizes together with personal leasing and employee car ownership schemes. Lex Industrial Solutions includes mechanical handling, fleet management and commercial vehicle contract hire, where there is significant commonality of customers and operations. Lex Manufacturer Support Services provide outsourced marketing and inventory management services, primarily to vehicle manufacturers. This information is provided by RNS The company news service from the London Stock Exchange RNS Number:8015R Lex Service PLC 21 February 2002 PART 2 Consolidated profit and loss account for the financial year ended 31 December 2001 Continuing operations 2001 Acquisitions Total 2001 Total 2000 2001 (restated)* £m £m £m £m Total turnover 1,377.1 71.6 1,448.7 1,524.7 Less share of joint ventures (266.6) - (266.6) (270.6) Less share of associates (7.2) - (7.2) (32.9) Group turnover 1,103.3 71.6 1,174.9 1,221.2 Cost of sales (807.9) (36.1) (844.0) (860.2) Gross profit 295.4 35.5 330.9 361.0 Operating exceptional items 2.3 (0.5) 1.8 (17.3) Amortisation of goodwill (9.9) (4.0) (13.9) (2.1) Other net operating expenses (250.6) (25.7) (276.3) (316.3) Total net operating expenses (258.2) (30.2) (288.4) (335.7) Group operating profit 37.2 5.3 42.5 25.3 Share of joint ventures' operating profit 18.5 - 18.5 3.3 Share of joint ventures' operating - - - (45.0) exceptional items Share of associates' operating profit 2.2 - 2.2 4.0 Total operating profit/(loss) : Group and share of joint 57.9 5.3 63.2 (12.4) ventures and associates Net loss on disposal of businesses (17.2) - (17.2) (16.9) Net profit on sale of fixed assets 1.2 - 1.2 8.6 Profit on sale of investments 25.3 - 25.3 13.5 9.3 - 9.3 5.2 Net interest (payable)/receivable and similar (charges)/income Group (10.2) (10.4) Associates - 0.1 (10.2) (10.3) Profit/(loss) on ordinary activities before 62.3 (17.5) taxation Taxation on profit/(loss) on ordinary (16.9) 6.6 activities Profit/(loss) on ordinary activities after 45.4 (10.9) taxation Equity minority interests 0.1 (0.1) Profit/(loss) for the financial year 45.5 (11.0) Dividends - paid and proposed (25.1) (24.2) Retained profit/(loss) for the financial year 20.4 (35.2) Profit/(loss) for the financial year £45.5m (£11.0m) Earnings/(loss) per ordinary share 39.5p (9.5p) Earnings/(loss) per ordinary share 39.0p (9.4p) (diluted) Underlying profit before taxation for the financial year £65.1m £54.6m Earnings per ordinary share on underlying profit 41.9p 35.6p after taxation and minority interests Earnings per ordinary share on underlying profit 41.4p 35.4p after taxation and minority interests (diluted) Dividends per ordinary share - paid and proposed 22.0p 21.0p There is no difference between the Group's profit at historical cost and the profit for the financial year reported above in either year. Underlying profit before taxation for 2000 has been restated to exclude disposal losses in Lex Vehicle Leasing. * Prior year comparatives have been adjusted for the impact of FRS 19. Consolidated balance sheet at 31 December 2001 2001 2000 (restated)* £m £m Fixed assets Intangible assets 536.1 446.4 Tangible assets 317.4 287.0 Investments in joint ventures Share of gross assets 499.3 507.8 Share of gross liabilities (454.1) (456.6) 45.2 51.2 Investments in associates 7.3 5.7 Other investments 12.0 22.9 918.0 813.2 Current assets Stocks 155.7 176.1 Debtors 221.5 176.8 Investments 23.9 12.7 Cash at bank and in hand 17.4 42.2 418.5 407.8 Creditors: amounts falling due within one year Bank and other loans 153.6 100.6 Other creditors 459.9 475.8 613.5 576.4 Net current liabilities (195.0) (168.6) Total assets less current liabilities 723.0 644.6 Creditors: amounts falling due after more than one year Bank and other loans 217.5 178.5 Other creditors 65.1 59.4 282.6 237.9 Provisions for liabilities and charges 16.4 13.2 Net assets 424.0 393.5 Capital and reserves Called up share capital 29.2 29.0 Share premium account 129.3 127.2 Capital redemption reserve 1.0 1.0 Profit and loss account 264.7 236.1 Shareholders' funds 424.2 393.3 Equity minority interest (0.2) 0.2 424.0 393.5 * Prior year comparatives have been adjusted for the impact of FRS 19. Consolidated cash flow statement for the financial year ended 31 December 2001 |
Posted at 06/12/2001 08:45 by akastantheman What a beautiful and bright morning this is today.Lex Services up another 2.5% this morning......I wonder what has caused the mm's to mark these up nearly 10% these last couple of days after bringing them down for the past 3 weeks. Have they heard something that investors are not aware of or what. Still looking forward to the new lambs in the spring. ADYOR |
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