Manroy Share Discussion Threads

[bookbroker] 05/3/2013 11:15

What we need here is positive news on the US side of the business to get this really moving, disappointing to see the retrace, however still got to regain confidence of the market in order to continue, that will only come when there is some consistency of earnings. No good the directors pushing the positive outlook until they actually deliver on forecasts.

[temelco] 04/3/2013 18:31

GHF couldn't agree more....

[glasshalfull] 04/3/2013 18:26

Well that was an interesting interchange...much ado about nothing!

Plenty of info posted on the thread recently, together with numerous posts containing links to further analysis that indicates that the company will be profitable this year & forecast to achieve earnings of 8p EPS & £1.92m PBT.

Now lets see if the company can deliver.

I'm sure there are a few of us looking to add should this come back any further. I certainly am. Since taking an initial position I'm even more positive as recent announcements on order wins and sensible bolt on acquisitions have positively altered the risk/reward profile IMHO.

Regards,
GHF

[temelco] 04/3/2013 10:22

Well there you go then

[charo] 04/3/2013 10:11

exactly what i did at no loss.

[temelco] 04/3/2013 09:17

Charo if you DON'T belive the forecasts and what is being said, you have a simple solution - sell

[bookbroker] 04/3/2013 09:02

What a common little spat you two having above, Charo you made your point, I do agree on one thing here , this co. has one off the most rose-tinted, optomistic CEO's in the corporate game, he's always stating how promising things are and yet we are still treading water at lowly levels, however I'll give him the benefit of the doubt as bought in the forties having held once been a holder around the pound mark, nonetheless to be in this stock you have to believe in the finished article, and I suppose the products are pretty cast iron(a pun) in their quality, I just wish they would be able to operate in a less rigorous and less regulated environment with less red tape holding their core business up. Still they had better meet their forecasts otherwise they will be toast!

[davidosh] 04/3/2013 09:00

Charo... Can you confirm if you have contacted the directors to verify the facts rather than shooting the messenger at this juncture?

[charo] 04/3/2013 08:53

i did check reported details.no info on current sales has been disclosed and certainly no profit forecast been made.I ATTEND MANY GM and am a seasoned inverstor with substantial portfolio.No director can legally make such comments at a meeting of any type unless all are insiders,cant trade or pass on info.i cannot attend all gm and rely on my own research and the public statements of company.From bitter experience i take little notice of brokers notes as often mere sales products but directors statetements have to be verifiable.

[davidosh] 04/3/2013 08:39

Charo....Why not attend an Agm and listen to what the directors have to say when they answer questions? The fact that temelco has taken the time to do that and share his feedback with us here is commendable and if you need further clarification you could always check reported details yourself.
We all make our own decisions on what information we seek to accept or research further.

[temelco] 04/3/2013 08:14

Charo - the fact that Allenby have said what they believe will be this years profit clearly means exactly what I say.They wouldn't be making a profit or being happy with cash flow if there was a problem somewhere. That's why going to AGMs is a good thing - some of the background to RNS gets filled in

[charo] 03/3/2013 22:13

i will tomorrow contact aim team and nomad to confirm temelcos posting and ask for a directors statement.really annoyed if this is the case how can i rely on published statements if directors can tell a favoured few.

[charo] 03/3/2013 21:45

sorry where is the the rns that supports the statement that you made.if individual shareholders where given such info and not the market as a whol;e this is very serious breach. i have reviewed all rns on advfn and find nothing to support your comments.

[battlebus2] 01/3/2013 15:38

Charo why post such rubbish.

[temelco] 01/3/2013 13:56

sorry charo - you have that wrong. if you look at my post on the agm they specifically said they and states were cash positive and states was MAKING money( as is UK)

[charo] 01/3/2013 13:39

yeh rite,still losing in states still cash negative,loan repayments will eat up cash for 3 years get real.

[temelco] 01/3/2013 09:41

Manroy has announced the earnings enhancing acquisitions of certain trade and assets of Base Enamellers (Base) and certain assets of RJL Engineering (RJL) for an aggregate consideration of £0.8m cash, to be funded through the group's own resources. Over the past two years Base has been working with Manroy as a strategic supplier on important elements of the group's new General Purpose Machine Gun (GPMG) which Manroy has recently begun to market to customers in both the UK and export markets. In addition to the GPMG programme, Base has provided sub-contract support for Manroy on other product lines including lightweight towbars, lightweight tripods and other weapon mounting solutions. By acquiring Base, Manroy brings this engineering expertise in-house, thus benefiting from the skills and synergistic cost savings that this delivers. In addition, we see the acquisition improving manufacturing controls and efficiencies while Manroy will inherit the additional revenue streams derived from Base's own customer base, many of whom operate as original equipment manufacturers and contractors to the defence industry. Revenue from Base for the year ended 30 September 2012 was approximately £2m of which c.50% related to work generated from Manroy orders. The acquisition of Base/RJL will be consolidated into Manroy's accounts for seven months of the current financial year ending 30 September 2013 and we are assuming that Manroy's revenues will increase by around £0.5m and by £1m in FY 2013/14, both forecasts obviously reflecting only the non-Manroy sales within the Base/RJL business. We have also assumed that the elimination of the third party margin will boost Manroy's gross margin by 200 bps in the current year and 300 bps in 2013/14. After accounting for the increase in the cost base we have raised our adjusted PBT/EPS forecasts for Manroy in the current year from £1.86m/7.70p to £1.925m/7.97p and for 2013/14 from £3.18m/13.57p to £3.30m/14.08p. Since initiating research coverage on the company on 17 January 2013, the shares have risen by 43% to 58.5p before recently easing back to the current 56p, going some way to confirming our initial fair value figure of 60p. In consideration of the above acquisition and the recently announced increase in Manroy USA's order book from $13.2m to $14m we are moving our fair value estimate up to 70p and will review it further after the group's interim results or earlier on additional news flow. (IJ)

[allstar_07] 01/3/2013 07:44

Acquisition looks good, nice bit of vertical integration. Lets hope the cost savings materialise.

[battlebus2] 01/3/2013 07:39

Yes very interesting, who said they weren't forward thinking.

[temelco] 01/3/2013 07:28

Hmmm. V interesting acquisition. That means they can now deliver complete gunturrets for tanks etc in house.

[glasshalfull] 01/3/2013 07:18

Many thanks temelco. Appreciated.

Further news this morning, effectively purchase of manufacturing assets & a business which should lead to cost savings.



Momentum certainly building here.

Regards
GHF

[battlebus2] 28/2/2013 09:45

Thanks Temelco, looks great going forward.

[temelco] 28/2/2013 09:30

The most interesting thing at the AGM - apart from the much larger number of people there than usual ( even without Daviddosh!) was in connection with MUSA. As well as saying the order book was up, the FD confirmed that a) it was trading profitably b) it was on track to make a good profit for the year c) the cashflow was positive. Glyn Bottomley added they had delivered and been paid for $500,000 of commercial equipment in the last six weeks and that the (potential) gun law didn't look as it was going to make any difference to their commercial operation. David Low then chipped in that effectively ALL the sales in the last few weeks, although they had to be accounted for in the P&L, were cash straight into the bank as the costs had already been paid for. I thought a very upbeat AGM. Glyn also mentioned they had 14 new customers over the last 18 months. Hope that helps

[bookbroker] 28/2/2013 09:18

Still need to see clarity over the US orders, they've been harking on for months and months over accreditation, visibility needs to be improved over the longer term for this to continue to rise. So far the ship has been stabilised, now it needs to build momentum going forward.