Low & Bonar Share Price (LWB)

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
Low & Bonar	LSE:LWB	London	Ordinary Share	GB0005363014	ORD 5P

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	-0.25p	-0.31%	80.50p	80.50p	85.00p	80.50p	80.50p	80.50p	10,302	09:17:38

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Construction & Materials	400.0	17.7	4.2	19.1	265.31

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Low & Bonar (LWB) Latest News

Low & Bonar News

Date	Time	Source	Headline
02/8/2017	16:36	UKREG	Low & Bonar PLC Total Voting Rights
13/7/2017	13:49	UKREG	Low & Bonar PLC Holding(s) in Company
11/7/2017	12:51	ALNC	IN THE KNOW: Hold Low & Bonar To Let Share Price "Pause For Breath"
11/7/2017	09:00	ALNCF	Alliance News Flash Headline
11/7/2017	08:35	ALNC	Low & Bonar Profit Up 30% In First Half; Sells Agro-Textiles Business
11/7/2017	07:01	UKREG	Low & Bonar PLC Disposal
11/7/2017	07:00	UKREG	Low & Bonar PLC Half-year Report
10/7/2017	16:40	UKREG	Low & Bonar PLC Second Price Monitoring Extn
10/7/2017	16:35	UKREG	Low & Bonar PLC Price Monitoring Extension
07/7/2017	09:00	UKREG	Low & Bonar PLC Directorate Change

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Low & Bonar Forums and Chat

Date	Time	Title	Posts
18/8/2017	16:56	Low & Bonar Plc	1,044
09/7/2007	17:36	...i have followed this donkey from lowlands of 42p...it still can double...	8
31/7/2005	19:57	Low & Bonar for the asset sensitive	120
21/4/2004	12:05	Low & Bonar + 30 Ј million contract	4

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Low & Bonar (LWB) Most Recent Trades

Trade Time	Trade Price	Trade Size	Trade Value	Trade Type
09:36:15	81.22	3,125	2,538.13	O
09:08:19	82.52	7,000	5,776.74	O
08:17:38	80.50	59	47.50	AT
07:40:07	82.52	118	97.38	O
2017-08-22 15:35:14	80.75	22,017	17,778.73	UT

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Low & Bonar (LWB) Top Chat Posts

Date	Subject
23/8/2017 09:20	Low & Bonar Daily Update: Low & Bonar is listed in the Construction & Materials sector of the London Stock Exchange with ticker LWB. The last closing price for Low & Bonar was 80.75p. Low & Bonar has a 4 week average price of 80.50p and a 12 week average price of 76p. The 1 year high share price is 91p while the 1 year low share price is currently 60p. There are currently 329,576,109 shares in issue and the average daily traded volume is 47,278 shares. The market capitalisation of Low & Bonar is £265,308,767.75. Read Full Thread Reply
11/7/2017 14:37	ed 123: Hi Rathkum. I could have made a couple of suggestions for today's slip in the share price but debt level would not have been one of them. As you'll know, the absolute debt level for any business doesn't matter. What matters is the size of the debt in relation to the size of the business. Net debt only went up by £9.5m or 6.8%, whereas revenue went up by 16.4% and underlying profit by 16.5%. So, the proportionate size of debt has actually reduced This was confirmed within the interim statement, Gearing at 31 May 2017 was 2.5 times (2016: 2.7 times) ... The covenant requirement is net debt/EBITDA < 3.0. So, LWB's debt level is safe, down from last year and should go down further with the receipts from today's sale announcement. Read Full Thread Follow Reply
11/7/2017 09:23	ed 123: Looking at this morning's trades, some holders appear to have exited in a hurry. 17,400 shares printed at 75p, amongst others. I'm not selling. They are almost certain to make more progress in H2 and in 2017/18. For me, it's a growth story and paying a good dividend. Improving the quality of the Group takes time. It is proceeding and today's announced £5.1m net proceeds will give a better return elsewhere in the Group. Share price has recovered a bit now, 82/83p in the market (down 2.5p today). Read Full Thread Follow Reply
16/3/2017 08:13	ed 123: Unusual to see a share price rise on its ex-dividend date. The likely reason is that Berenberg today recommended 'buy' for Low and Bonar with a target price 112p. That target is 63% above yesterday's close price. Shares are up 2.5p atm. Read Full Thread Follow Reply
02/3/2017 16:47	ed 123: Hmmm .... 13.7 million shares traded today. That's about 4% of the issued equity, an unusually large daily figure. Most likely just one institutional holder selling and another buying. As we know, the FD is due to leave. The news had only very slight impact on the share price and that was positive. I'm guessing the other board members, especially CEO, feel they can do better with a new person in that role? Without wishing to ramp this share, I continue to see LWB as being of the right size and having leading positions in niche markets, to make it a candidate for a bid. I'm holding and can see it making good progress with the interims, including gaining from Sterling's weakness. (No advice intended.) Anyone planning to go to the agm? I usually go. Read Full Thread Follow Reply
03/2/2017 20:54	rathkum: Yes, I feel the market will wait until the interims to give a long waited re-rating. In the meantime enjoy the 2p dividend with very little dowside in the share price if at all Read Full Thread Follow Reply
01/2/2017 07:39	ed 123: Results look good for the most part. Coated textiles was a big negative but 'largely resolved'. For the current year, if they have resolved the Coated Textiles and win back unhappy customers, then eps for whole group could rise by 20%? Sound bouyant about their prospects. Pension risk has been laid off for UK final salary scheme = good. Nice lift in the dividend. Share price prediction? I think the market will look forward, so up 5p? Read Full Thread Follow Reply
12/10/2016 00:14	rathkum: Low & Bonar: Growth stock with a decent divi 14:01 11 Oct 2016 Law & Bonar can trace its roots back to the turn of the last century when it first started weaving jute, a vegetable fibre that was used in rope. Low & Bonar: Growth stock with a decent divi The company's fabrics are used in civil engineering, building and construction. Shares in Low & Bonar (LON:LWB) have traded in a very narrow range in the year to date and are barely changed in that period. The valuation of the business, at 11 times 2016 earnings per share, dropping to 9.3 times 2017 EPS, suggests the company is stagnating. However, as we will see, nothing could be further from the truth. Before we make the investment case, it is probably worth looking a little closer at what the business does and how it makes its money. Law & Bonar (L&B) can trace its roots back to the turn of the last century and first started weaving jute, a vegetable fibre that was used in rope and matting, in 1912. Today it is a market leader in sophisticated performance materials that makes yarns, fabrics and fibres used in civil engineering, building, construction, transportation and other industrial applications. It is divided into four business units that are international. Colback, one of its best-selling products, is all around as it provides the backing for floor tiles and is used inside cars. WATCH: L&B boss on the potential of the business In fact, the company has invested heavily (£26mln) in a state-of-the-art factory in Changzhou, China, that manufactures the product. It is within 200 miles of 80% of the country’s textile flooring industry giving it a ready market. The plan is to double the footprint of the plant over the next few years. The investment in China was part of L&B’s strategy to broaden its geographic footprint outside the UK and Europe, which accounts for 65% of revenues. The company has evolved under chief executive Brett Simpson. It is more market-focused, rather than being product driven. What this means in practical terms is it listens to customers and creates products they want or need rather than developing a new fabric or fibre and then trying to find a market for it. It might make create innovative material in-house, but equally it could buy in the expertise. It is always looking to move sideways into what Simpson calls “adjacent markets” – though only where the return is attractive. And L&B is driven by returns (particular return on sales and capital employed) and takes what he calls a “portfolio approach” to the businesses it operates. In other words, if an L&B operation doesn’t pass muster, it is disposed of. In fact the artificial grass yarns unit is being sold for £24mln for that very reason. “We worked hard and made big improvements to the relative performance; however, the absolute returns are just not high enough and we are divesting it,” said Simpson. “We are also working on issues with our Saudi JV [joint venture] so it doesn’t make further losses.” That hard-nosed approach appears to be working – just look at the forecasts made by the company’s broker Peel Hunt. It sees pre-tax profits growing by 12% this year to £28.5mln and then to £33.5mln the year after and to £36mln by 2018. L&B is forecast to pay a total dividend of 2.9p this year, which equates to a very decent 4.4% yield. Net debt, which was just under £140mln when L&B last updated, is forecast to fall to around £95mln by the end of the year. Simpson says that level of borrowings is manageable and well within its target range. According to Peel Hunt the current share price of 64p “does not reflect strategic progress to date towards improved quality of earnings and higher returns, nor the positive earnings momentum established over the last 12 months”. It says L&B shares are worth 90p each. “After a period of heavy investment, we now expect earnings growth to accelerate and the balance sheet to deleverage,” said analyst Dominic Convey. He expects the stock to receive a “deserved re-rating”. Boss Simpson won’t be drawn on the share price, but is satisfied L&B is moving in the right direction. “We know where we are making money,” he said. “We know where our strengths are and we are building on them and pushing into new geographies as well as sorting out the legacy issues.” http://www.proactiveinvestors.co.uk/companies/news/167232/low-bonar-growth-stock-with-a-decent-divi-167232.html?utm_source=Sign-Up.to&utm_medium=email&utm_campaign=7163-357784-proactivity+-+11%2F10%2F2016 Read Full Thread Follow Reply
18/8/2016 10:17	ed 123: Yes, rathkum, I think it will go higher from here. Atm, it's at the top of a channel, paused for direction. Btw, Kingfisher today reported Q2 France sales up 10%, Poland sales up 15% and Spain sales up 19%. A pickup in Eurozone will be good for LWB, and so will a conversion back to a weaker Sterling. Brett Simpson is raising the quality of the Group. We are due an announcement of a solution to Bonar Natpet soon. Goes ex a 1p dividend next week. While things are so quiet, I've played with some numbers ... 330m shares issued. At say 65p, market cap is £214m. Add deferred share value of £31m. Add in net debt of £140m and pension deficit of £15m gives enterprise value of £400m. EBITDA for the current year £35m(?). Return on notional investment would therefore be 8.75% pa. LWB replaced its debt recently at an interest rate of only 2.57% pa. (It is considered to be a safe business to lend to.) There is scope for someone who wants Colback, etc. to bid say 100p for the ordinaries. Then enterprise value would jump to £516m. Funded at say 4%pa, would cost £21m - easily covered by the ebitda of £35m. LWB is quiet (not a single share traded so far today), but has value at the current share price, imo. (NAI) Read Full Thread Follow Reply
04/7/2016 08:17	ed 123: Sale of the Sports and Leisure Division, announced today, has been well received by the market. Share price up 3.3p or 5% at 63p. Brett Simpson has settled in and is moving the Group in the right direction. Interim results to be released on Wednesday. I'm hoping for news on the Bonar Natpet facility. Read Full Thread Follow Reply
16/2/2016 16:36	ed 123: AGM to start at 10:00am on 31 March, at Pullman Hotel (near Euston Station). The recent share price performance was unexpected (by me!). You've got your under 62p entry point, if you want it, Puffintickler. I find that my interpretation of share price falls is conditional. If it's a share I'm holding, any fall must be due to a short selling conspiracy. When it's a falling share I don't hold, it's just the market giving its opinion. Seeking a rational explanation, I've opened my mind and revisited the results. It still looks ok to me. Notably, the outlook was for further growth this year, despite some market weakness. From the Chairman (2 February 2016), As we look to 2016, ......... Despite these continuing economic headwinds, the Board is confident of achieving further progress. For anyone who is holding, a bit of incentive to hang on - there's a 1.8p dividend going ex on 17 March. It's on a full year 5% yield at 55p. All just my own opinion; no advice intended. Read Full Thread Follow Reply

Low & Bonar share price data is direct from the London Stock Exchange

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