Lpa Share Discussion Threads

[seabird] 15/6/2005 09:29

Now we have some sort of explanation (I think). The MMs had a whiff of good results (leak from a birdy in finance - of course never from the auditors), but the short term problems were more severe than was apparent from the RNS in March.

Speculatively Cbird

[henry999] 09/6/2005 12:21

I note ACOLs point about decent management. the present Board and Chief Executive have been in place for about 8 years. In this time share price has gone from circa 50p to 20p. PBT from 332 to 143 and shareholders funds from 5402 to 4068

[acol] 08/6/2005 20:09

Cbird

I'm not sure how long mm's can delay notifying trades above NMS - which in the case of this share is very low. However, you make a valid point - albeit that I personally think that the explanation may rest elsewhere. (Hope that you are right and I am wrong!)

[seabird] 08/6/2005 11:38

Acol

But there has been no trading over the last 2 days - up another 1/2p - 17p to 22p in 3 days trading - there must be some news in the offing.

Cbird

[acol] 08/6/2005 11:06

No idea but watching with interest. Previously I was very optimistic about this Company and it certainly has the capacity to surprise in either direction. On paper it is backed by good assets and with decent management (which is perhaps lacking?)it could really take off. I am reasonable sanguine about sitting on this in the hope that one day it will deliver. Normally, it is a bit like watching paint dry but the poor liquidity can result in volatile price movements on relatively little trade.

[seabird] 08/6/2005 10:23

Now with no trading the share jumps in the last 2 days some 25% - anyone out there? - anyone with any idea what is going on?

Cbird

[seabird] 03/5/2005 15:51

Looks like some bad news about to hit the fan. 40p down to 17p in under 3 months - missed the boat big time.

Cbird

[fusebox] 26/3/2005 21:03

The electronics sector has had a bad run the last few months having previously perked up a little.

I was asked by a poster to evaluate this company some time ago on the EKT thread.

Unfortunatley the comparison with EKT was quite stark.

This co was far more debted, and margins a lot lower.

The pe ratio for this company was quite high. Does not surprise me that after the profit warning the share coming diown the way it has. EKT had a subsidiary operation related to the rail network some time back and had to get rid. Too competitive.

I still dont rate this company despite the fall of late.

EKT are clearly ahead of the pack in relation to eps growth, turnover, low gearing, margins and prospects.

[costapacket] 19/2/2005 23:21

Robin - apologies - I've been on holiday all week hence no response.

Nice to see some interest here - I'll post some comments tommorow pm - very tired just now.

[henry999] 19/2/2005 17:45

I suggest a good indicator of future prospects would be a purchase of shares by remaining directors.

[chipss] 18/2/2005 20:09

I am not sure whether the the AGM has occurred but I believe the board were seeking permission to buy back stock. This would be the first time and perhaps suggest two things. firstly the board recognise the shares are cheap and secondly to put a bit of liquidity into the stock so investors have the confidence to buy the stock and would feel able to unload all or part of their stock without crucifying the shareprice. Torday and carlisle has introduced managed share buybacks which has revolutionised their share price and given investors confidence to pile in. Lets wait and see.

[acol] 18/2/2005 15:02

chipss

Thanks. I've just confirmed the pension surplus of £1.5mn from the 2004 accounts. In actual fact this surplus amounts to about 15% and growing.

Regarding the small sale by the retiring Michael Edmunds. To put this into perspective it is relevant to record that prior to the sale he had a 6.42% stake in the company.

Time will tell what the future holds for this very small Company. However, my money is on a successful outcome which should result in a sizeable re-rating.

[chipss] 14/2/2005 19:13

as far as i know LPA has a small pension surplus which makes it a rather rare beast.

[acol] 13/2/2005 19:06

R of L

I should have added the fact that the sale was from the wife of Michael Edmunds who is retiring at the AGM.

Re future prospects. Personally, I think that the recent trading statement and small hike in dividend was quite promising. Future sourcing from overseas outlets will improve competitiveness and the Company has a great deal of experience in the supply of UK power systems, electrical connections and lighting for the rail network. It is expanding its overseas markets. IMO spending on the rail industry will continue as efforts are made to modernise rail transport. Either way, the Company has been around for a long time and is well underpinned by its net assets. A leap of faith maybe but there are not many value companies around and at least the right noises are being made.

Net debt is at a reasonable level (having been over 100% two yrs ago) and is falling - now about 66%). Cash flow is good. Not sure on the pension situation and would welcome comment from anyone who knows current position.

[acol] 13/2/2005 15:07

R of L

Ordinarily I would always be mindful of director share sales in a small company. However, this very small sale - about £10Ks worth by a director's spouse, is hardly worth much in the grand scheme of things. It could have been made for a number of reasons and could be justified from the perspective that 2 years ago the share was approx one third of today's price.

[robin_of_loxley] 12/2/2005 00:20

Thanks Costapacket, this looks promising. Any idea what are the details re contracts, volumes of business etc that persuade you this recovery will lead back to previous prices? How sustainable is the current rise etc? (Edit: sorry, just read in more deatil the info you posted on the 'RECE: Recovery Stocks' thread - I like the information on the order book, whats the source for this?)

The only thing I have read so far that concerned me slightly was the 25 January director share sale notified by Michael Edmonds at a price of 32.50p, with 25,000 shares sold....

...surprised directors are selling at the start of a recovery...would be hoping for the opposite! Is there any explanation regarding this sale that people are aware of?

Thanks,
RoL

[costapacket] 07/2/2005 20:31

Agreed that we are moving into new territory as far as charts go - today was another welcome move up. Again I state that I'm surprised there's not more interest here though.

[acol] 07/2/2005 18:09

If we clear 40p then the coast is clear for a rise to the 70's. The heading is very apt.

[costapacket] 05/2/2005 15:30

Another nice tick up Friday - surprised there's not more interest here

[costapacket] 21/1/2005 21:32

Very happy with - should now start to form a new range. Its its moving on nicely - well done LPA management and staff!

[red dog] 21/1/2005 10:30

Have a look at the buy note from Evelution Securities under the Stanelco (SEO) Bulletin Board number 20043. You could do a lot worse.

[guru11] 21/1/2005 09:00

Costapacket - true
I calculate the pe ratio based on 2 x 2nd halves after a tax charge of 26.
Solid company for the long term, but fairly fully priced at present.

[the fox] 21/1/2005 08:59

Fantastic results. EPS 2.14p, increased dividend, reduced gearing and a very bullish outlook statement:

We have made a sound start to the current financial year, and this is
significantly ahead of the corresponding period last year. Your board is hopeful
of further progress during the year.

Up 17% as I type. I see a further re-rating in due course.

DR

[acol] 06/1/2005 21:56

Happy to sit on investment. Value will have out in the end.