Manroy Share Discussion Threads

[battlebus2] 17/1/2013 18:25

Hey Woodcutter any chance of a wife swap as i've just noticed yours is much more fun :))

[woodcutter] 17/1/2013 17:37

b2

In a half hearted moment of madness i tried to discuss the matter with mrs woodcutter.

At the end of this discussion she led me to the garage and took an old wicker chair from the corner and promptly removed the wicker part with my stanley knife. She then placed my towing rope neatly beside the chair having tied a rather bulbous knot in the end.

She mentioned four words, Daniel Craig, Casino Royale. A movie it seems i now used to like.

Now i don't know about you but i'm rather attached to my testicles and the vision of mrs woodcutter as Le Chiffre is not a pretty sight i'm sure.

In an effort to placate her i said, "but it could multibag from here". I don't think i'd quite finished the word multibag before my right arm was around my back touching somewhere near my left ear and her muddy wellington boot (she'd been gardening bless her) was strategically placed upon my neck whilst at the same time gaffer taping my ankles together.

After an hour hanging upside down from the garage rafters I've since seen my work area and tool cupboards from a totally different perspective, indeed i've worked out that if i moved the cupboards a little to the left i could place an old piece of carpet in the corner and have a little golf chipping area.

Anyway around about tea time mrs woodcutter came in removed the gaffer tape and golf ball from my mouth and said "you know if you moved that cupboard over there a bit to the left you could have a little chipping area." Every cloud has a silver lining.

"Now have you thought about THT". I said, "yes when it was 10p i nearly bought some but i got a little scared," to which she replied "well, think about it like this, you nearly bought some MAN too, but didn't, for exactly the same reason."

Woody

[battlebus2] 17/1/2013 16:36

LOL Woodcutter better keep her onside! This is a too good to be true value play so fingers crossed there's no skeletons.

[woodcutter] 17/1/2013 16:12

Had a quick peek at this today after suggestion from GHF and i have admit it looks pretty good value, no better than that, rather a compelling value play. Indeed i can only see one downside. I'm afraid if mrs woodcutter knew i was buying into this she'd nip into the garage take my M16 and RPG's, string me up outside and let me have it, so no matter how good it might be i'm going to pass.

Woody

[temelco] 16/1/2013 11:56

If thery get the £8 million order they keep talking about and very little more this year AND push their margin back to where it was the PE won't be 3 it'll be 1.....

[bookbroker] 16/1/2013 08:53

I've spoken out against this co. in the past, in part due to the write-back in the 2011/12 figures in terms of P/L, however I agree that the signs are positive going forward, it's just been frustrating that export orders have taken so long to be granted in the past, and the delay with accreditation in the US. Nonetheless I know how well respected the GPMG particularly is held in terms of product, they appear good value on the basis that the barriers to entry in this market are so stringent, and alongside that demand is likely to hold up, it really is up to the Uk Govt. to get its act together and speed up the process as regards licensing of exports, we're talking about UK PLC here and the sustenance of jobs in this country and an essential product in the UK armoury in support of foreign forces.

[pyemckay] 15/1/2013 19:18

i bought in today. The tone of the rns was fantastic. This is a one year bagger hopefully.

[battlebus2] 15/1/2013 16:33

jimmy12345 i'd be averaging down if i were you.

[jimmy12345] 15/1/2013 16:29

Its at this point i wished i had bought this share, its a bargain now, i need a 100% rise just to break even.

[jimmy12345] 15/1/2013 16:21

Good to hear some positive news here at last.

[battlebus2] 15/1/2013 16:02

Great to see some big guns having a look, excuse the pun!

It certainly is cheap i think the only doubt is the delayed contract but surely this has been well overdone. We could even see more contracts from new customers.

[glasshalfull] 15/1/2013 15:44

Mkt Cap is 7.6m

PBT forecast £3.2m for 2013
or 13.3 p EPS

PER 3???

Regards
GHF

[glasshalfull] 15/1/2013 15:43

Duplicate Post (bl$$dy iPhone!)

[glasshalfull] 15/1/2013 15:38

I'm also having a look.

Management certainly bullish for forthcoming year with 49% US subsidiary now geared up to contribute & delayed order coming through. V strong order book...but can they drive cash generation & profitability?

Margins held up well at 33% given considerable development of products & building up exports.

Good summary from Allenby:

MANROY (MAN, 40p, £8m) PRELIMINARY RESULTS

"... slipped into losses in the year to September 2012, primarily as a result of delays in the confirmation of a particular export order from a major customer, delays to the novation of US contracts by the Department of Defense (DoD) and a delay to the receipt of First Article Acceptance (FAA) from the DoD. Nevertheless, we would argue that these delays will serve to enhance the prospects for the current year as the group expects the export order referred to above, and others, to be confirmed in the current financial year, novation has now been received from the DoD and the FAA process is progressing well, albeit having taken much longer than expected.

....record order book of £9m in the UK and £8m from 49% owned associate Manroy USA (MUSA) together with a very encouraging pipeline of contact opportunities augurs well for revenue generation in the current financial year and onwards. Concerted efforts by management to increase export business and widen the group's product base have met with success and now places the group in arguably its best position since float to deliver improved returns this year.

...forecasts for revenue of £14m for the year to September 2013, against just £7.4m for the year just reported, have been confirmed by management and give an indication of the step change that is likely in profits this year. A return to strong profit generation also offers the real prospect of a return to the dividend list...."

Regards
GHF

[bustergonad4] 15/1/2013 15:24

I've only just started looking at this but based on my (admittedly limited research so far) - this does look almost too good to be true. Can anyone tell me what I'm missing here?

[battlebus2] 15/1/2013 14:58

You've got to believe these should be a great recovery play given the contracts are already in the bag. Any new contracts should see considerable upside imv.

[battlebus2] 15/1/2013 07:46

Some negatives and some positives but imv these are all priced into the shares at this level. 2013 oder books at great levels if we can turn that into profits. It's all in the outlook really--

Outlook

I believe we are set for an exciting 2013 with a strong order book, a strong order pipeline, the value of export business increasing, the Group bidding for new MoD work and MUSA commencing production of the major part of its order book. I am therefore confident that the Group will at least match market expectations of revenues for the year ending 30 September 2013.

Glyn Bottomley

[temelco] 10/1/2013 21:06

This share price is insane.It values this company ( which recently admitted it had £14+m of orders) at £8m. On previous form that £14m is worth net profits of about £5m. And if they get that £8m order they keep saying is just coming, that's another near £3m profit. IE they have the same amount of profit on hand as the total value of the company. Bonkers

[pro_s2009] 05/1/2013 01:50

I seem to be the only one who picked MAN (as one of 5 picks) for 2013 in the UK Stock Challenge.



Think it will do well in 2013.

[jimmy12345] 04/1/2013 18:18

Its a steal at these prices thats for sure. I bought at 80 and 75. So sitting on a fair loss on paper, nothing has changed though its a very good company with great prospects. Things are coming together be patient and multi bag here.

[battlebus2] 04/1/2013 17:03

Hi puku yep i'm sitting at a loss too but that will change very quickly if it turns out we are anywhere near right.

[puku] 04/1/2013 16:56

I am with you battlebus, bought in recently perhaps too soon, but didnt want to miss out over med/term. Orders are not being lost, just delayed, as recent update said and Boards expectations do not include that big potential order. . Back in Feb 12 outlook was for p/e 9 and yield 2.6 % at 75p. So now we can look for p/e around 5 and yield 5% (if they continue to pay). In May Board said demand for HMG and GPMG should be strong over 2-3 year period. I am to wait .

[battlebus2] 02/1/2013 21:57

Bookbroker i don't often challenge others views but you are talking utter rubbish. No reason even given the delayed contract that this company won't survive as the order book for 2013 even without the delayed contract is very healthy indeed. Worry over the USA manroy you will find to be over done. Time will tell!

[bookbroker] 02/1/2013 20:56

Be lucky if this co. survives, too many uncertainties over contracts, makes visibility impossible to predict.

[jimmy12345] 02/1/2013 20:24

i hope so i paid double the share price as things stand