Lincat Group Share Discussion Threads

[doubleorquits] 17/2/2005 12:36

Not tipped by Shares Mag though, Greavsie ;0)
They were given a brief mention in the results summary though.

[cockneyrebel] 17/2/2005 12:31

The sort of stock IC are likely to tip tomorrow imo.

CR

[cockneyrebel] 14/2/2005 20:01

Cheap as chips ay Saint ? ! :-)

CR

[saint or sinner?] 14/2/2005 17:27

Brokers note out from Evolution.

All positive, highlighting attractive yield of 4.2% and mentioning that they are at a 25% discount to Aga.

0 ;-D

Saint

Note is downloadable from:

[nurdin] 11/2/2005 13:12

shhhh..I am waiting to top up :o)

[cockneyrebel] 11/2/2005 13:09

Yep penpont - forecasts look way too low seeing what they have done in H1.

Loads of land and stuff, no debt to speak of, PE about 9 I'd say.

Screaming cheap - but suspect investors are looking for a dip - might not be too deep tho I'd say.

Should be tipped in IC next week - looks like their sort of thing.

CR

[wjccghcc] 10/2/2005 23:07

In too. Looks like H2 sales will be really cooking :-)

[penpont] 10/2/2005 16:48

Anyone else think current forecasts will be well beaten? Looks to me that they could do the 06 eps this year, poss a bit more.


05/06

Evolution Securities Ltd 17-01-05 ADD 4.70 46.60 20.00 5.20 51.10 21.00

[shooting star] 10/2/2005 11:43

Got some myself. Look an excellent stock to be in. Boring but steady growth (at a nice price), and a nice rising dividend.

This is a company that is delivering on promises, not promising on delivery like some of the overvalued Tech rubbish the average advfn user chases.

[cockneyrebel] 10/2/2005 10:26

Not boring to me.

Missed them this morning and had to buy later on at a hefty rise but they still look cheap, probably on a single digit PE, good growth, no debt to speak of and a positive forward outlook.

CR

[blueflame] 10/2/2005 09:45

Great charts and good results - obviously a bit boring for the majority on ADVFN!

[saint or sinner?] 10/2/2005 07:41

Company website:

Lincat Group plc is UK-based and comprises three manufacturers of catering and bar equipment: Lincat Ltd, IMC and Britannia. Each company is operated by an autonomous management team that reports to the Board through the Group Chief Executive. The Group's management policy is decentralised and non-interventionist. We believe that experienced management teams are most effective at creating long-term shareholder value if given scope to develop, implement and take responsibility for their own strategies and operational plans.

There are however strong commercial links and operational synergies between the businesses as they all operate in the same sector - the design, manufacture and supply of catering equipment - and have many dealers and end-users in common.

Since the acquisition of IMC in 1994, the Group's growth strategy has been essentially organic, with occasional acquisitions of small businesses (Britannia was acquired in 2002) and product lines (Heydal ventilated ceilings was acquired and merged with Britannia in March 2007). Mercury, no longer part of the Group, was started in 2000, using resources seconded from Lincat Ltd. By concentrating on a small group of well managed and high margin businesses the Group has been able to deliver an impressive level of earnings and dividend growth over two decades.

Interim results to 2 July 2010

Lincat Group plc, the AIM-listed manufacturer of commercial catering appliances and bar equipment, announces its interim results to 2 July 2009.

Highlights

* Operating profit increased by 25% to £2.6m (2009: £2.1m) on turnover from continuing operations of £15.8m (2009: £14.9m)
* Net cash and short-term investments of £6.0m at 2 July 2010
* Interim dividend raised by 8% to 11p per share (2009: 10.2p)
* Dividend covered 3.2 times by basic EPS from continuing operations of 35.0p
* Group continues to benefit from relative weakness of sterling.

Alan Schroeder, Chairman:

'Lincat Group has delivered another strong performance in the half year to 2 July 2010. We remain cautiously optimistic about the future and expect to continue to deliver robust margins and a healthy cash flow in the second half of the year.'

[saint or sinner?] 10/2/2005 07:40

Lincat Group plc, the publicly quoted manufacturer of commercial catering
appliances, bar equipment and domestic range cookers, announces its interim
results to 31 December 2004.

Highlights

• UK sales up 12%, total turnover up 6% to £16.9m
• 24% increase in operating profits, up from £2.15m to £2.66m
• Six months EPS up 26% to 25.9p
• Interim dividend raised by 16% from 5.8p to 6.7p
• Useful profit contributions from Mercury and Britannia.

Comment from Martin Craddock, Chairman:
'Our operations have turned in an exceptional half year performance. The sales
growth generated from new products is particularly pleasing and we shall
continue to seek market share growth through constantly improving our product
offering.
We are pleased to be able to reward shareholders with a 16% increase in the
interim dividend.'


Contacts Martin Craddock, Chairman
Paul Bouscarle, Chief Executive
Lincat Group plc
01522 875555


10 February 2005

CHAIRMAN'S STATEMENT

It gives me pleasure to be able to report on a half year trading period when
sales and operating profits grew strongly.

In the six months to 31 December 2004 the Group's sales rose by 6% from £15.9m
in the prior year period to £16.9m, despite a fall in the contribution from US
sales due to the weakness of the US dollar against sterling. UK sales were
particularly strong, rising 12% year on year, whilst export sales from the UK
fell by 11% as two major overseas distributors ran down excessive stocks.

In November's AGM statement I referred to a small increase in gross margins,
which grew from 49.7% to 50.4% in the period. Labour costs fell despite higher
sales as our plants benefited from efficiency improvements and better capacity
utilisation. The challenge for the second half will be to maintain these gross
margins under pressure from rising raw material costs.

With operating expenses up by just 2%, substantially below the level of sales
growth, profit before interest increased from £2.15m to £2.66m, a rise of 24%
over the same period last year. There were no share buy-backs in the period and
there is no significant change in our overall tax rate, therefore earnings per
share rose similarly to 25.9p (2003: 20.6p).

Dividend
Our policy is to maintain earnings cover of between two and two and a half times
the ordinary dividend. With strong first half earnings growth the Board has
declared an interim dividend of 6.7p (2003: 5.8p), representing an increase of
16%, which will be paid on 8 April 2005 to all shareholders on the register at
11 March 2005.

Gearing
Net debt at the period end was £56k, representing gearing of less than 1% (2003:
9%). We will shortly be completing the purchase of a new factory for IMC's
manufacturing operation in North Wales, for which the total consideration
including associated costs will be £1.6m. Despite this investment we expect
gearing to be less than 10% at our year end on 30 June 2005.

Trading
Our UK commercial catering equipment operations - Lincat, IMC and Britannia -
collectively grew their home market sales by 11%. Whilst we believe that there
has been some general market recovery, this rate of growth also reflects
successful product launches at each company: new generation Silverlink 600 at
Lincat, IMC's F2 underbar system and modular canopies at Britannia. Our
businesses are positioned for further growth, particularly if national accounts
in the licensed sector return to higher levels of investment.

Douglas reported sales and profit growth in dollar terms but the further decline
of the US dollar left profits unchanged in sterling terms. Orders received were
up markedly in the period and this gives us encouragement for a strong second
half performance from our US operation.

Mercury, our UK domestic range cooker business, recorded a first half profit for
the first time on the back of 40% year on year sales growth. Whilst this rate of
growth is expected to slow in the second half, we are increasingly confident
that Mercury has established itself both as a dynamic and innovative company and
as a profitable member of the Group.

Post-balance sheet event
After the end of the accounting period the Group incurred one-off costs of £0.4m
in respect of an aborted transaction. These costs will be recognised in our
second half accounts.

Prospects
We expect the gradual recovery in our UK and US markets to continue in the
second half. We also anticipate some recovery in our exports from the UK as the
key distributors referred to above resume shipments following a period of
de-stocking. Higher factory gate prices should offset higher raw material costs
and so maintain gross margins at close to the current level. Overall we are
confident of building on the progress made in the first half.

Martin Craddock
Chairman
10 February 2005

[reynard46] 25/11/2004 10:12

Nice to see the share price jump. Anyone know why?

Cheers

[jbr] 04/10/2004 14:35

For what its worth, I agree with your surprise. This one seems oversold. Good to see the price swinging back up today.

[arthur_lame_stocks] 28/9/2004 11:44

What's happening to the price? I thought the results were fair and the outlook O.K. and there is the possibility of some cash from selling on eof their sites for development.

[arthur_lame_stocks] 23/9/2004 11:09

Gotta be a better investment than Martin Shelton hasn't it?

[ydderf] 05/7/2004 09:04

a nice little earner now, results soon and a comfy single figure p/e, yield and growth in prospect.......

[ydderf] 16/2/2004 09:43

Lololololololol better and better........

[pdyke14856] 12/2/2004 08:38

Well Im in profit.

[ydderf] 11/2/2004 15:28

this is a beauty, imho natch, there are real cash earnings valued at less than 10 x and its at a cyclical bottom of it's business cycle yummyyummyooooooooooo!!

[ydderf] 16/1/2004 10:44

well it looks like Mr Craddock takes Freddy seriously!

[omt] 15/1/2004 13:01

fully invested now freddy, although looking at todays move wish I had got in! good luck