Metnor Share Discussion Threads

[volvo] 06/4/2006 09:05

We could see 80m or more turnover and 4.5m pbt.That would be nice with a market cap of 36m and 12.8m to come into the company from the sale of the two loss making galvanising sites.It is not clear if Hill and Smith take on the Chesterfield staff this is important.

[volvo] 03/4/2006 09:01

They are building envirnomentally favorable homes.I am hearing positive things from this direction with a doubling year on year for the for seeable future this could indeed be the way ahead.

[volvo] 03/4/2006 08:49

The fact they gave up the galvanising might just focus their attention on construction.For this to achieve anything the Rankins will have to sell some of their shares to the funds for more free flow.Or of course buy up the balance or sell the whole lot as they could geograpically suit someone.

[scumdog] 02/4/2006 02:44

VOLVO, good question re the cash. I expect they'll use it for further property development ventures as I think this is what really appeals to these boys.

At the current share price I see little downside. May have a pop but only as a short term bet on the results.

[volvo] 01/4/2006 16:07

Scum thanks for the reply.

There was talk of of the Rankins taking it private last year and after the results last year 4 directors bought large amounts,110K,,105k,57k,and 4k of shares at 210 to 215p.Not made much have they.The 10m for the galvanising and the sale of the previous plant 2.m of which 800k was profit.Got redundancys to sort out about 1m is a high estimate.With a market cap of 35m what will happen to this cash along with 5m supposedly to made now.

This share could do anything.

[scumdog] 01/4/2006 04:57

The Rankings own about 75% of the shares.

[scumdog] 01/4/2006 04:38

Metnor made a profit before tax of £5.8m in 2001, so has gone backwards for 3 years to 31/12/04.
PBT expected to be £4.8m for 2005, compared to £3.3m for 2004. (Digital Look: based on broker's EPS forecast).
The share price has traded within the range of 205p - 250p over the last year.
Yet mkt capitalisation only £35m.

Why?

Mkt has wind that forecasts won't be met despite confidence expressed in interims?
Mkt doesn't rate the company's earnings stream very highly?
Mkt not convinced by the directors' strategy?


Metnor's originally came to AIM as a galvaniser. Its galvanising operation earned record turnover and profits in 2003 - yet 2 years later one plant has been closed and the other is about to be sold following loss of turnover and reducing margins. Looks like they've totally mis-managed the galvanising side and are flogging it off at a cheap price. Despite higher raw material prices and competition this was a good earner for the company. But instead of investing in more efficient plant/work practices etc they wanted out.

In its place they've gone into property development!

Take a look at the construction profits. In 2003, operating profit of £1.7m
on turnover of £15.4m. In 2004, the figures were £55k on £21.6m.

Oh! Look at this - some related party trading in the 2004 accounts!

"During the year the group undertook construction work for Ultimate Leisure Group plc in the sum of £3,716,000 and was owed £198,000 at the year end. Mr S Rankin, Mr A Rankin and their close family control 37% of the share capital of Ultimate Leisure Group plc."

Accounts state the transactions to be at arms length though - so that's alright then, uhm.

[volvo] 27/3/2006 09:46

With the results a few weeks away maybe there will be a rerating going on here OR an management buy out OR a company buy out.All could happen and with the construction industry having a good year the results should be good.The Hill and Smith bid for 10m should go through for the loss making galvanising SO all in all should be worth a buy I think.

[whipround] 03/2/2006 16:12

Wonder if £10m will be returned to shareholders as a special dividend? 16m shares in issue would mean about 60p a share!

[whipround] 18/1/2006 12:32

I wonder whether he was responsible for the large trades going through a few days ago!

[welsheagle] 14/1/2006 22:06

According to Bloomberg Money magazine, Dave Gaskell of Rolling Stocks has tipped Metnor.

[welsheagle] 05/1/2006 19:56

Wondered why there was all that director buying a few months ago.

[whipround] 05/1/2006 10:33

Not sure if good figures included the 0.8m exceptinal profit or not, if not then they will be even better. Mega in fact

[whipround] 16/11/2005 13:04

Can't really say

[welsheagle] 15/11/2005 20:57

Where did you here this, Whipround.

[whipround] 15/11/2005 11:18

Apparently full year figurs will be good

[vs] 07/9/2005 15:28

RNS Number:9250Q
Metnor Group PLC
07 September 2005

Interim Results for the six months to 30 June 2005

Metnor Group plc today announces its interim results for the six months ended 30
June 2005. Financial highlights are as follows:

Financial Highlights

........................................... 2005 ........... 2004
........................................... #000 ........... #000

Group turnover............................38,664...........28,715.......+35%

Profit before tax - pre exceptionals.......1,471..............596.......+247%

Profit before tax..........................1,371..............596.......+230%

Basic earnings per share....................6.2p.............2.7p.......+230%

Interim dividend per share 2.4p 2.2p +9%


Stephen Rankin, Chief Executive, commented:

"I am delighted with the performance of the Group in the first six months of the
year. Our construction, services and property divisions have performed ahead of
expectation which has made up for a poor performance from Galvanizing and
produced a good performance overall significantly ahead of the corresponding
period last year."

"Profits from our investments in property development schemes over the past few
years are beginning to show through and are continuing to benefit our
contracting divisions."

"We remain optimistic for the future and anticipate a strong performance for the
year"

[whipround] 30/8/2005 10:25

THink it's the 9th, results should be good.

[vs] 24/8/2005 16:41

Phoned the company to check on the release date for the next set of results. Apparently the date is not finalised yet but it will be either 9th Sept or 12th Sept.

[nghomi] 02/8/2005 16:41

Why has share price dropped by 5% today?

[whipround] 18/7/2005 15:09

Looks like somebody thinks the results will be good.

[whipround] 13/7/2005 12:23

T20 rolled should just about get one to the interims.

[whipround] 04/7/2005 10:05

We get the picture Welsheagle.

[welsheagle] 02/7/2005 22:04

From May's 'Company Refs', when price was 232p:-
a/ Prospective PE ratio of 11.3 (based on two broker forecasts, one recommending 'buy', and one with no recommendation).
b/ Forecast growth in eps of 34.5%.
c/ Eight directors recently buying.
d/ Price to sales ratio of 0.63.
e/ Turnover up from £39.2m to £66.3m in last five years.
f/ Cash flow of 15.5p per share.
g/ Gearing of -30.1%.