MS INTERNATIONAL (MSI) 3*
pre-tax profits rising to £8.77 million from £7.72 million despite revenue dipping slightly from £57.02 million to £54.72 million
hxxps://wealthoracle.co.uk/detailed-result-full/MSI/1060 |
I have bought another 10k today, bloody cheap. |
'Have they ever said they'd be interested in selling at the right price?'
I think the phantom award Nov23 and the way they cling to their own holding is an indication. |
Have they ever said they'd be interested in selling at the right price? |
Interesting comment in the outlook section."Our review of the future strategic priorities of the business is nearly complete and I expect to update shareholders about this before the end of the financial year." |
The tone of the report couldn't have been much more upbeat. It's not as if reliance on timing of revenues and the inherent risks to lumpy profits in the defence division should be a surprise to anyone. |
'That's a big discount to other defence stocks already and management are known historically for being pretty conservative with their language.'
You know what happens when you stay in the discount area fit too long. Just look at the profile of the board and their shareholding. |
If it was on a PE of 20 then I'd agree, but it's on a PE of 12 with 12% EPS growth. That's a big discount to other defence stocks already and management are known historically for being pretty conservative with their language.
Also a lot of the naval contracts are in the public domain and already awarded. |
FWIW I thinks it's a cracking business.But look left on the chart. Risen hugely. This could be the start of stage 4 |
If it was just a push into H2 for revenues ok but.."revenue until either later this year or in following years"Following years is the stinger unfortunately |
Exactly. Look at the increase in work in progress in the balance sheet inventories. |
I suspect there will be a lot of peeps looking to buy on any irrational markdown this morning. |
Harry, I do agree. However, markets hate uncertainty! |
This is no disaster, just a timing blip, I will certainly not sell, I will definitely continue buying if you guys sell down. |
Yep, shame. I won't be hanging around at the bell. |
This will get hammered today. Revenue down was not on the cards. Operating profit before derivative items is down big year over year and EPS is getting big boosted by finance income in a rate cutting environment
Improvement in trading sounds like it is year away. Shame |
On a drop like that seems some are more than happy to pick up a few |
Yes illiquid so I should realise that |
Minimal volume driving it. |
Gains momentum then slams down again |
Defence managed to over double turnover FY24 over FY23 with only 18 more staff (152 increasing to 170). Which highlights the operational gearing possible.
Parallel production lines for Naval & Paladin have also been developed. Whilst capacity improvements have been ongoing for a number of years, expansion capex kicked on strongly in FY24 to meet increased demand. |
They were also recruiting quite heavily earlier in the year. |
Production rates per se are unknown but we do know the company has been investing heavily in their Norwich facility and will continue to do so...."Further expansion of production capacity is planned for the coming year with a further area identified for re-development for both continued orders for current products and also anticipated orders for new products" |
Does anyone know the current production rate and capacity for the various gun systems? |
In the same document there are larger contract references to MK38 AIT which I believe relate to Mod 2/3 upgrades etc but do give a flavour of the ongoing revenues once the systems are integrated in meaningful numbers. |
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