Mdm Engin. Share Discussion Threads

[rcktmn] 07/7/2009 22:55

nice to see the share price strengthen a bit in a poor market sentiment backdrop...not surprised after yesterday's excellent results !
This could really rocket if and when the markets ever recover properly ! (imho)

[rcktmn] 06/7/2009 14:50

Wow! Good news released just a few mins ago... can't do the share price any harm ? can it ?

MDM ENGINEERING GROUP LIMITED

('MDM' or the 'Group')

FULL YEAR RESULTS TO THE 31 MARCH, 2009

MDM Engineering Group Limited (AIM:MDM) is pleased to announce its audited results for the year ended 31st March 2009. MDM Engineering is an African-focused engineering and project management group which provides a range of value added services to the mining industry, including project evaluation, process engineering, design and project management.

2009 Highlights

Financial

Revenue up 164% to US$35.9 million (2008: US$13.6m)

Gross profit up 146% to US$16.7 million (2008: US$6.8m)

Net profit up 144% to US$7.8 million (2008: US$3.2m)

Pre-tax profit up 158% to US$11.6 million (2008: US$4.5m)

Cash and cash equivalents of US$14.0 million (2008: US$5.20m)

Basic earnings per share of US21.15 cents per share (2008: US12.94 cents)

Final dividend of US7.5 cents (2008: US4 cents for the 16 months ended 31 March 2008)

Full dividend of US11.25 cents (2008: US4 cents)

Strong balance sheet with virtually no gearing

Dividend cover of 1.9 times

Operational

Strong pipeline of studies ranging from scoping studies to bankable feasibility studies

Project value under execution at year-end of US$300million

Staff retention rate high with current headcount at 144

Two major new projects awarded since 31 March 2009

Corporate

Appointment of Executive Financial Director Dominique de la Roche

Overview

The 2009 year has been one of significant growth for MDM as evidenced by the growth in earnings. Net profit for the year showed an increase of 144% to US$7.8 million (2008: US$ 3.2 million) with earnings per share showing an increase of 63% to US21.15 cents (2008: US12.94 cents). This was mainly driven by the increase and peaking of the current execution projects under MDM's management. MDM has continued to maintain a strong gross profit margin of 46% (2008: 50%) for the year under review.

The Group's balance sheet has been enhanced with the equity attributable to its shareholders increasing by US$11.4 million to US$15.9 million. The increase resulted from funds raised at the Group's listing in May 2008 as well as the cash generated by operations over the last financial year.

The Group's cash generated by operations increased by 42% to US$5.8 million (2008: US$4.1 million) after taking a taxation payment of US$4.4 million into account. This is further evidence of the cash generative nature of MDM's business. The balance sheet shows strong cash on hand at year end to the value of US$13.9 million.

Summary of Financial Results
Consolidated net earnings for the 12 month period to the 31st March 2009 was US$7.8million, which equates to basic earnings per share of US21.15 cents.

The Directors of MDM Engineering have declared a final dividend of US7.5 cents per share payable on the 10th of August 2009 to shareholders registered on the 17th of July 2009. This is in line with the stated dividend policy whereby approximately 50% of earnings will be paid out as a dividend.

MDM Engineering CEO Grant Lowman commented:

'The growth in profits over the year in such a tough operating environment is a satisfying result for MDM and testament to our business model and the hard work and dedication of the team. While we have felt the impact of the global economic crisis through the stalling and cancellation of mining projects over the last six months, whilst we are seeing some activity pick up, the commodity market will probably continue to reflect difficult trading conditions for some time: we are well placed to capitalise on a recovery in the sector when it occurs. '

[rcktmn] 12/6/2009 08:14

Nice RNS this morning... 150p def on the cards soon...

12th June 2009

MDM Engineering Group Limited

('MDM Engineering' or the 'Company')

NEXT PHASE OF KALAGADI MANGANESE PROJECT

MDM Engineering Group Limited (AIM:MDM) is pleased to announce that it has commenced work on the Front-End Engineering and Design ('FEED') phase of the Kalagadi Manganese (Proprietary) Limited's ('Kalagadi Manganese') Umtu Sinter Plant project at Hotazel, South Africa. The Company is also currently engaging with Kalagadi on various other matters.

To date MDM Engineering has completed a Bankable Feasibility Study (BFS) for Kalagadi Manganese, and the FEED project represents a continuation of that process, which will incorporate a Control Budget Estimate (CBE) in order to take advantage of the current environment of weaker commodity prices. The BFS completed during 2008 had a value of ZAR 3.5 Billion.

MDM Engineering's Chief Executive Grant Lowman commented:

'This is a significant step forward in the development of the Kalagadi Manganese project. We look forward to assisting Kalagadi Manganese with the development of this major project which will be the first BEE (black economic empowerment) grass roots mining project developed and controlled by women in South Africa.'

[matt123d] 28/5/2009 10:01

Yes no sellers appearing yet around this 100p level.

Onwards and upwards!

[timmbo] 28/5/2009 09:56

well there we are. Next 150p resistance

[timmbo] 18/5/2009 12:36

Next stop £1

[rcktmn] 30/4/2009 18:04

then 300p (I hope!)

[matt123d] 30/4/2009 16:55

Looking good, heading for 100p.

[timmbo] 30/4/2009 09:44

Still ticking along nicely

[timmbo] 23/4/2009 12:32

Hang in there rcktmm

[rcktmn] 22/4/2009 15:08

Sounds good!.. think I need £2.12 to break even!

[matt123d] 22/4/2009 14:37

Uptrend formed now with the higher high.

Both 50dma and 20dma rising, looking good for more gains.

[timmbo] 22/4/2009 09:51

Breaking out, nothing to hold this back until 150 I think

[timmbo] 17/4/2009 07:20

All very quiet as we slowly tick up, nice

[rcktmn] 25/3/2009 13:32

who knows! next move will be up - I think (hope)
It's going to be one step back and two forward with this one but I'm still impressed with this Co. it should do well - in time (imho)

[timmbo] 25/3/2009 12:40

Cripes, doesn't hang about on the way down either! What's That all about

[hosede] 11/3/2009 16:43

certainly does move quick

[timmbo] 10/3/2009 12:27

Feel for ya rcktmn, same position with a couple of longterm holdings myself. Still, this moves really quick , you never know

[rcktmn] 10/3/2009 12:21

Yep, 'bout time too!.... £5.5+ please! (having bought in @£2.12)

[timmbo] 10/3/2009 11:44

Good news today, as quick as we went down....

[rcktmn] 12/2/2009 14:00

hope ur right... 75p good first target then more when we get good contract/deals news.

[matt123d] 12/2/2009 13:13

Added here over the last few days, appears that the seller has been cleared now, should have quite a bit further to go if that's the case.

75p target.

[timmbo] 12/2/2009 12:26

Yeh looking good at last .. See how long it goes on this run

[rcktmn] 12/2/2009 12:08

Well timmbo...looks as though it's recovering to where you got in at least!..

It's looking good... perhaps there's some good news to come out soon ?

[timmbo] 23/1/2009 13:53

v grim ! Waiting for 20p to av down .... Already !!