Metnor Share Discussion Threads

[volvo] 01/6/2006 14:33

From the results

A final dividend of 7.0p per ordinary share (2004: 6.5p) is proposed and,.....if approved at the forthcoming Annual General Meeting, will be paid on 12 June 2006 to those shareholders on the register on 12 May 2006.

[whipround] 01/6/2006 14:08

When is the agm?

[volvo] 30/5/2006 08:21

There you are now all we need is the positive news at the agm which will move the price I am told.

[whipround] 26/5/2006 16:28

AS if by magic

[whipround] 26/5/2006 14:18

No sign of any statement from Hill & smith. Divi soon, cushions the pain of watching this share do absolutely nothing.

[volvo] 24/5/2006 16:44

Of the web.

There was more these boys are starting to get going.

There will be positive news regarding the Chesterfield site in literally days.

The 10m deal should go through.

Maybe a jump up then hopefully there will be an trading announcement on these deals at the agm I am informed.

Either way Metnor are on the up and valued a 38m.This could easily double with the news from last week that they are making 5m from one deal.

[whipround] 24/5/2006 09:09

Good stuff Volvo, where did you trawl this from?

[volvo] 23/5/2006 20:56

They have spent 7m developing something


07/04/2006
After lifting annual profits by a third, diversified metals group Metnor is negotiating 'key developments' to improve prospects.

AIM-quoted Metnor increased pre-tax profits 33 per cent to £4.4 million in 2005 on turnover 19 per cent ahead at £79 million. Earnings rose 32 per cent to 20.4p a share and a 9.4p-a-share dividend is proposed, 8 per cent up on 2004.

Newcastle-based Metnor, which took a £281,000 exceptional hit on closing its Middlesbrough steel galvanising plant, ended the year with cash down by £1 million at £4.4 million. The company negotiated a £10 million bank facility and drew down £6.75 million of it to develop its property development activities.

Chairman Howard Gold hints at 'key developments...at an advanced stage of negotiations', which could help ensure another 'strong performance' for 2006. At 249p, up 2p today, the shares, which bottomed at 150p three years ago, value the company at £38 million.

[volvo] 23/5/2006 20:51

METNOR CONSTRUCTION/ASTON HOTELS CELEBRATE 'TOPPING OUT' CEREMONY




Directors of 'Aston Hotels Dumfries', The Crichton Development Company, Metnor Construction and guests, celebrated the 'topping out' of the superior, 71-bedroom 'Aston Hotels Dumfries', on Thursday 20 April in the grounds of 'The Crichton', Dumfries.


The 'topping out' ceremony marked a construction milestone with the new roof completed and construction of Dumfries' newest, independent hotel has passed the halfway point, and on schedule to open its doors to guests this September.


Construction of the £3.5 million hotel commenced in January 2006, by Newcastle based firm Metnor Construction, project managed by Elliott Projects from Tyneside and designed by Tom Langlands of Architects Plus, based in Carlisle. The stunning late Victorian building will be carefully restored and the hotel's new-build design draws upon influences from this iconic, architectural era with glass and copper adding a contemporary twist.


The hotel's construction using the Metnor Ecosystems closed panel timber frame will be highly energy efficient. The timber from sustainable forests is being used for the hotel's frame together with high levels of insulation will make the hotel more energy efficient than current building regulation guidelines.


The building work will be finished by August and then interior design firm, Van Dijk based in North Berwick has been appointed to create a contemporary and luxurious look for Aston Hotels Dumfries.


Metnor Construction are a Newcastle based construction company which is part of Metnor Group Plc. Metnor Construction specialise in a number of sectors in traditional and Modern Methods of Construction using their closed panel timber frame – Metnor Ecosystems.


Aston Hotels is a new, independent hotel group which currently owns and manages a Darlington-based hotel. However, the Dumfries venture is the company's inaugural project, under the auspices of Aston Hotels.

[volvo] 17/5/2006 13:04

It works well.You set up a proptery company that buys land,then the construction builds it then you sell it for a profit.

[volvo] 16/5/2006 07:39

There you are the first a many.It stands to make 5m from this deal.Who said 5.00 was not far away as in the year 2008 this company could be making 15m.This would give a value of 150m 3 times todays price.

[volvo] 12/5/2006 10:57

Note from Hill and Smith today.

Well we will know about the Galvanising soon.

It said it expects an Office of Fair Trading decision on any competition
issues regarding the potential acquisition of Metnor Group's Metnor Galvanizing
business within the next 14 days.

[whipround] 11/5/2006 17:41

Once the galvanising side has been sold off, if this co can reclassify as a property developer then p/e would be increased, with profits increasing this co should be worth at least £5 once they have been reclassified.

[volvo] 08/5/2006 13:00

From the results.

Spending plenty of dosh on something.

This is where most of the galvanising cash will be going.

For a dull share things could be about to become less so.




In order to finance the continued investment in our property developments, the
Group has negotiated a #10 million bank facility, of which #6.75 million was
drawn down at the year end.

[volvo] 04/5/2006 18:59

Whip this company is solid.The shares are not freelyavailable.It will reward those prepared to hold for 12 months.I believe environment friendly houseing could be a force.

[whipround] 04/5/2006 15:04

Thanks Volvo, just added on that basis. Hope youre right. Goes ex-d next week.

[volvo] 27/4/2006 09:39

I have been talking with the company before and afyter results.

They are in advanced talks over a deal that if sucessful will give another strong year.This is highlighted in the results.With a fair wind it will be announced at the AGM in June.

Also they agreed terms with Hill and Smith to sell the loss making Chesterfield site for 10m which would give working capital of 14m.Maybe an addititional shareholder payment.

Along with a dividend.I have invested and see over by summer 3.00.

[screamer] 26/4/2006 18:49

This has just came on to my radar accidentally. I was fiddling about with some of the updated features on sharescope i.e. directors dealings and this popped up.

So let me get this right, 2 Directors own more than 70% of the company? That leaves less than 5m shares in general circulation. And they pay a divi. :)

One thing that would worry me slightly is that, looking at the chart it has a habit of peaking at this time of year and then falling back. Any long termers got a view as to why?

Regards

Screamer

[whipround] 24/4/2006 12:29

Metnor Group Plc Director/PDMR Shareholding
RNS Number:8705B
Metnor Group PLC
24 April 2006

Metnor Group plc ("the Company")

Holdings in Company

24 April 2006

The Company was notified today that, as part of the completion of Mr A Rankin's
retirement, announced on 19 September 2005, Mr A Rankin has sold 3,374,093
shares. Mr A Rankin now holds 666,466 shares representing 4.4 percent. of the
issued share capital.

Of these Shares, Mr S Rankin, a Director of the Company, acquired 1,485,742
shares, and Mr J Rankin acquired 1,888,351 shares.

In addition to the above, Mr S Rankin has today acquired 120,000 shares held by
Metro Industrial Holdings, a Company which is used and controlled by Mr A
Rankin.

The consideration for the purchase of the shares is a combination of cash and a
private family Company asset swap based on a price for Metnor stock of 230p per
share being the agreed average value of both the public and private companies
over the last few months.

As a result of the above transactions, Mr S Rankin is now interested in
5,629,551 shares representing 36.8 percent. of the issued share capital and Mr J
Rankin is now interested in 5,206,446 shares representing 34.1 percent. of the
issued share capital.



ENDS





Must be seen as a positive sign for the share price

[volvo] 21/4/2006 07:02

Should be hearing about the Hill and Smith buy out of the galvanising business any day.That will give the company a 10m bonus.This along with a further key developments update should see the shares at 3.00 at the end of June following the agm.

[volvo] 11/4/2006 18:53

Growth Investor.


Chairman Howard Gold hints at 'key developments...at an advanced stage of negotiations', which could help ensure another 'strong performance' for 2006. At 249p, up 2p today, the shares, which bottomed at 150p three years ago, value the company at £38 million.


In full
Metnor moves on profits spike

SHARES in evolving group Metnor nudged north to 249p on a 47% profits leap to £5.1m for the year to December, ahead of analysts' forecasts.

Adjusted pre-tax profits, adding back goodwill and the exceptional costs of closing its galvanizing plant in Middlesbrough, moved from £3.4m to £5.1m on record turnover of £79m. Chief executive Stephen Rankin said all major divisions at the Newcastle-based firm, with the exception of galvanizing, made strong contributions.

Contracting business Norstead had a good year, particularly in the South, the construction arm performed well, making encouraging gains in the health care and care homes sector, and Metnor also has property development projects in the pipeline.

Construction and property represent the future for Metnor, which has already announced an exit from low margin galvanizing, an area of the business hit by overcapacity and rising raw material prices in the market.

The galvanizing business is being sold to full-listed Hill & Smith, subject to OFT clearance. Once the deal completes, Metnor should have over £14m of cash on its balance sheet.

Forecasts for 2006 from Brewin Dolphin strip out galvanizing, and profits have been pulled back from £6m to £5.3m from a top line £78m, giving earnings of 23.8p.

By 2007, investors might expect a profits move to £6m, and earnings of 27p. That leaves Metnor trading on forward multiples of only 10.5 and 9.2, with prospective yields of over 4%, and a soon-to-be fortified balance sheet.

Recommendation: Buy.

[volvo] 08/4/2006 09:57

...........and the Mail and Guardian.

[volvo] 07/4/2006 13:22

Citywire liked it.

[whipround] 07/4/2006 09:41

market makers very short of stock, any small purchases raises the price.

[volvo] 07/4/2006 08:37

Not to far away was I.The company have clearly illustrated how the sale of galvanising will indeed be galvanising.It will imediatley become cas rich maybe leading to bonus in a divi to share holders.I feel that 5m returned about 30p per share is likely following completion.

This is the the interesting part of the results.I believe it is to do with envirnomentally favourable housing on a large scale.

"We have a number of exciting developments in the pipeline and provided these
move forward at the pace we are expecting I anticipate another strong
performance in 2006".