Mpac Share Discussion Threads

[arregius] 05/3/2020 10:40

Those words are from the CFO. ??

[thefartingcommie] 05/3/2020 08:58

re...Short term investors may be concerned but those in for the long term should not be.

Whenever I see a statement such as that on these boards I'm left in a slight state of befuddlement.
I dont happen to be a holder here ....yet.(see earlier post)
In these uncertain times..(when are they not)..preservation of capital is a high priority.If a holding is showing a good % profit over cost I would to be taking profits for sure....why not?

So..to return to point Arregius....would I be concerned?.I would be concerned,maybe not the correct word,at seeing my hard earnt profit dissipating...that would make me a seller.Seems logical.

[arregius] 05/3/2020 08:38

Personally I am not concerned about the order book. In 2018 Mpac secured a small number of large orders from a small concentration of customers. That was unlikely to be repeated and we have a healthier order book from a broader range of customers at the end of 2019 and have managed to refill the order book to what was a unusually high level form 2018. Short term investors may be concerned but those in for the long term should not be.

[nallen1] 05/3/2020 08:22

Share price: 307.5p (up 1% today, at 11:45)No. shares: 20.2mMarket cap: £62.1mFull year resultsI was bowled over by the trading update from this company a little while ago, here on 8 Jan 2020. The most striking thing was repeated, and very substantial upgrades to forecast earnings - tripling in one year! You don't see that very often. I've been looking forward to having a proper look at it, so today is my opportunity. This might take some time to prepare, so please bear with me.Here are my notes from reviewing the results announcement -2019 was clearly a very good year, as has been previously flagged by the companyRevenues up 52% to £88.8m, of which 24% growth was organicAcquisition of Lambert is described as a "strategic milestone", in May 2019Healthcare-orientated customer base - sounds good, growing sectorsUnderlying EPS 39.5p (LY: 4.5p!) - adjustment for pension costs not necessarily justified, as it is an ongoing & repeat costStatutory EPS 29.7p - more conservative measure that some people may be more comfortable with - which is still showing impressive growthDivis re-starting, with a modest 1.5p final divi - so not an income stock yet2020 has started well, in line with expectations2020 opening order book flat vs last year at £52.2m (not clear if this is LFL, or including Lambert) - possibly slightly disappointing? Has the growth surge paused for now I wonder?Coronavirus - currently doesn't expect delay to parts. China is small element of supply chain. But, could be knock on effect if other suppliers impacted by China.Huge pension schemes - £423.6m assets, £403.2m liabilities, on an accounting basis - technically a surplus, but since deficit overpayments are calculated on the actuarial numbers, then I would delete the £20.4m pension asset from the balance sheet. Investors here do need to properly understand the pension fund situation.Annual pension recovery payments of c.£3m - are material cash outflows, and help explain why divis are so small. Not to be ignored!Tax charge - NB note the P&L tax charge is negative at +£0.3m - this significantly boosts EPS, so needs to be adjusted to a normalised tax charge to properly value this shareBalance sheet - overall looks fine, even after adjusting out the pension scheme asset, and intangible assets. Cash position is fine..My opinion - the figures look good. Although I think it's important to adjust the EPS figures down by normalising the tax charge, and possibly reversing back in some of the adjustments (especially pension fund related costs).My big question, is how did the company achieve such a surge in performance, and is it sustainable? It could have been a one-off surge in orders, or it could be the beginning of a run of strong performance. I don't feel able to judge that, given no knowledge of the sector, nor its competitors. I think finding out about that should be the key focus of investors research. Remember that, when competitors find out how a company is achieving strong results, then they copy it!Overall though, I think this looks interesting & worth a closer look.If we're going into a global recession, which strikes me as likely due to coronavirus, then orders could be delayed, or dry up. Therefore, I'm not sure this is necessarily a good time to buy the shares. But it's on my watchlist for a possible purchase later on, when the situation becomes clearer re coronavirus.I have to leave it there for today. See you tomorrow.Regards, Paul.

[tole] 05/3/2020 07:30

hxxps://app.stockopedia.com/content/small-cap-value-report-wed-4-mar-2020-phd-intu-nano-mpac-568482?order=createdAt&sort=desc&mode=threaded

[cravencottage] 05/3/2020 07:25

So has this been tipped on Stockopedia's Small Cap Value Report?

Anybody got any details ?

Cheers

[drradcliffe] 04/3/2020 23:51

Paul Scott did a thorough write up on the results in Stockopedia. For those with a Stockopedia account take a look at today's SCVR.

[cravencottage] 04/3/2020 22:28

Good set of Numbers today coupled with a good forward outlook statement..

Once all the traders have cleared the decks....Investor's move in and buy the dips.

Afterall they're aren't many Co's out there delivering 39p EPS ( with plenty of cash on the balance sheet) and paying a divi.

Tip upates from SCSW and Investor's chronicle to look forward too aswell..

GLA

CC

[arregius] 04/3/2020 22:16

https://news.siemens.co.uk/news/mpac-lambert-selects-siemens-digital-industries-as-digital-platform-partner

[mfhmfh] 04/3/2020 22:00

Cup and handle forming on the chart.

[petersinthemarket] 04/3/2020 14:53

Does that look like a H&S forming?

[tongosti] 04/3/2020 14:38

Don't think that's good timing pal but hope am wrong.

[andyview] 04/3/2020 14:17

I've added a few

gla

[andyview] 04/3/2020 11:43

They've certainly delivered here and would expect the price to move upwards even with the rise yesterday...I'm holding with them as it's a promising story with potential acquisitions along the way..

gla

[onjohn] 04/3/2020 11:38

#MPAC posted “excellentR21; 2019 results that were in line with expectations. Dividend was reinstated to 1.5p, with positive guidance & net cash closing at £18.0m, or 89p/share. Importantly too, the Board believe the #CoronavirusOutbreak shouldn’t materially impact future profits.

[onjohn] 04/3/2020 11:35

25 min before serge

[mfhmfh] 04/3/2020 10:27

good analysis here:

[pireric] 04/3/2020 10:07

Jay- ev/EBITDA wouldn't change if you remove cash. The EV is the EV

[tongosti] 04/3/2020 09:38

"In line with market expectations" answers your question. Expectations had already materialised over the last few weeks.

[jay083] 04/3/2020 09:32

solid results. addressed cov-19 risk. pe 7.5, ev/ebitda ~6.

remove cash pe ~5, ev/ebitda ~4.5

cheap for a growth company with a solid balance sheet.

also feels to be moving up the value chain - this is a technology company, granted not mass market but still...

[mfhmfh] 04/3/2020 09:23

'active pipeline of acquisitions, most of them off market...' according to the video.

[arregius] 04/3/2020 09:18

Mpac down with such a news? ????

[mfhmfh] 04/3/2020 08:35

check out the video:

hxxps://www.equitydevelopment.co.uk/webinars/?d=2027&ltkn=1a82b1eb15a4db087f9dea436597a788d2T5yHbh