Lpa Share Discussion Threads

[tomps2] 16/3/2017 14:11

Did anyone go to the AGM?

Was there much of a presentation?

[freddie ferret] 14/3/2017 16:33

If the earnings growth and other metrics stay good then the share price will be playing catch up at some point.






KEY POINTS

-- Sales up 31.7% at GBP21.42m (2015: GBP16.27m)
-- Operating profit before exceptional items up 427% at GBP1.533m (2015: GBP291,000)
-- Exceptional gain GBP14,000 (2015: GBP545,000)

-- Profit before tax GBP1.516m (2015: GBP793,000, including exceptional gain of GBP545,000)

-- Basic earnings per share 12.30p (2015: 5.86p)
-- Gearing 29.2% (2015: 34.0%)
-- Order entry GBP20.69m (2015: GBP26.77m)
-- Order book GBP17.96m (2015: GBP18.69m)
-- Group has achieved a step-change in performance and is moving onto a new level
-- Group continues to benefit from buoyant UK rail sector and export markets

[castleford tiger] 14/3/2017 16:17

Away so not spoken to anyone but don't see reason for drop. T/o is up I am told as I posted and maybe they are covering themselves with slight reduction in margin. With broker not reducing then 12 x forecast EPS looks low. However the market says they are worth 150p so we have a choice to buy or sell.
I remain very bullish but my 300 p looks wide of the mark.
Be interesting to see if any options granted?

Tiger

[freddie ferret] 14/3/2017 16:06

The grammar and syntax are not that bad.
The update is mainly positive IMHO, just some changes, overall it's getting bigger and presumably it will become more efficient in the new premises which would be expected to improve overall margins.

[cockerhoop] 14/3/2017 16:05

I think it may have been a big wooly as it was a report of an AGM statement that was delivered to investors verbally rather than a concise RNS. With WHI maintaining forecasts it's pretty clear what's happening.

FF
I'm not aware of anyone deramping LPA, I merely suggested in post 441 that it was reasonable rather than outstanding value at £1.77 and olliemagern in post 480 pointed out the lower than normal tax rate flattered last year's EPS.

Both posts were jumped on pretty vigorously by the bulls.

[bigbigdave] 14/3/2017 15:55

Surely there must be a nightschool course in Saffron Walden "how to write an rns"?

[freddie ferret] 14/3/2017 15:38

If I was a crook I would be deramping these and buying more.

[glasshalfull] 14/3/2017 14:34

I can confirm hastings summary in post 503 (many thanks ; - )

WH Ireland are comfortable with previous forecasts.

Kind regards
GHF

[cockerhoop] 14/3/2017 13:46

hmmm..........


Castleford Tiger28 Jan '17 - 16:11 - 462 of 504 4 0
Told first half is running 15/20% ahead of this time last year.

W I are working on a note and will be giving a further upgrade. Management are looking for 2 million before the exc gain which would be very nice.
This year debt will fall by half a million ( 20% ) and the order book is growing fast.

I do feel my 300p is possible but brokers will drip feed the good news as they did last year.
Good old Eric..
Tiger

[meijiman] 14/3/2017 13:41

That's good. Maybe WHI ought to read these company releases first to avoid confusion reigning.

[hastings] 14/3/2017 13:34

WH Ireland remains comfortable with its full year forecast of Pre Tax Profit of £1.7m giving EPS of 13.2p.£2.00p target price retained.

[meijiman] 14/3/2017 13:31

I agree it was not the best wording. If WHI the broker is not changing numbers then its a storm in a small teacup. The company has not historically over promised and I still believe they have grounds for optimism given the present order book and potential contract wins.

[melody9999] 14/3/2017 13:30

Don't think this warrants a 10% share price fall, especially as the share price had previously reduced from highs up to 200p and the fact the business continues to trade well. Buying opportunity.

[toyin] 14/3/2017 13:00

Yes they should, you are absolutely correct. But I cant be to hypocritical as I have used the opportunity to jump on the train!

All the best

[wjccghcc] 14/3/2017 12:57

I agree toyin, but they really ought to word their statements a bit more carefully.

[toyin] 14/3/2017 12:51

WJCCGHCC

Agreed, it is somewhat vague. I see it more as a badly worded release more than anything and see a lot more good than bad.

All the best

[esther1975] 14/3/2017 12:50

looks ok to me margins may be down some but sales are up. so all in all in line. and the future order book looks great

[dealerman] 14/3/2017 12:49

Does it mean the management's expectations for profits are lower than the market's?
Does it also mean the forward order book less profitable than last year's sales?

[glasshalfull] 14/3/2017 12:48

My thoughts for what it's worth ... strange reaction to a positive statement overall. Agree that statement could have been worded better, but 15% lopped off the shareprice???

Hopefully WH Ireland will confirm where expectations lie in terms of PBT for this year.

Due to the other positive noises surrounding announcement of a decent contract win, buoyant international markets, strong order books with internal expectations exceeded I've added to my position.

Kind regards
GHF

[wjccghcc] 14/3/2017 12:24

A bit confusing really. They say progress is exceeding internal expectations and then say H1 margins are lower than last year. Does that mean sales are ahead of expectations and profits not, or that profits are ahead of expectations despite the lower margins?

[gleach23] 14/3/2017 12:11

Looks a bit mixed - excellent levels of sales and orders and a contract win but a warn about lower margins

[steve3sandal] 14/3/2017 12:10

AGM Trading Update and Contract Win



At the AGM of the Group to be held at 12.00 noon today, Michael Rusch, Chairman, will make the following statement:



"In my statement included in the Annual Report published in January, I reported that the Group had established itself on a new trading level. I am pleased to report that this appears to be being sustained with excellent levels of orders and sales being achieved this financial year to date.



"While progress is currently exceeding our internal expectations, margins in the first half are expected to be lower than in the same period last year, due to a change in product mix arising from a higher proportion of project work, reduced defence and aerospace activity and the previously reported collapse of one of our oil and gas sector customers during the first quarter: the business of this customer has now been acquired by a third party and trading has resumed.



"We are always cautious at this point in the year but, recognising our performance to date and that the order book for delivery over the next three years remains at close to record levels, we continue to expect good progress for the year as a whole.



"We are currently moving our LED lighting business to an extended and refurbished facility located approximately 200 metres from our existing premises in Normanton, West Yorkshire: the move is being phased so as to minimise disruption.



"I am pleased to report that, during March, we have received a £1.7 million order as part of a contract to supply circa £2 million of inter-car jumpers for London based rolling stock over the next three years. We continue to pursue export opportunities in the buoyant Asian and Australasian markets, while endeavouring to satisfy the demanding rail market at home.



"We remain very excited about our future. I hope to be making equally positive remarks in the Interim Statement to be published in June."



This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

[gleach23] 14/3/2017 11:30

Correct meijiman - judging from last year I'd expect a trading update within the hour.

Thanks for highlighting.

[meijiman] 14/3/2017 11:20

Its the AGM today I think

[meijiman] 28/2/2017 14:01

Yes it was looking a little oversold. Looks very good value against the likes of Dialight and arguably higher quality earnings.