Newmark Security Share Discussion Threads

[davidosh] 29/11/2013 09:50

mjcferguson....or an investor presentation maybe ? I can certainly help with that one.

[mjcferguson] 29/11/2013 09:00

I have held shares in Newmark for a long time as I feel that there is more value to come out here.I do wish that there could be a bit more newsflow to keep people interested,brrmedia is a good start.

[sammy_smith] 19/11/2013 16:45

LISTEN: Newmark Security #NWT - Acquisition of Gunnebo Security Installations

Click the link below to listen

[uknighted] 05/11/2013 18:41

The market seems to like the acquisition.

[exel] 23/10/2013 23:05

mjcf - Thanks for your note. I only ever post 'what I believe' from what I have seen, heard and deduced. You are however 100% right in your assessment of the 'key thing'. Achieving 'that' will be completely crucial here. In the past, timescales to 'gaining that traction' have (it seems) been notoriously difficult to forecast - even for the Board themselves. ex

[mjcferguson] 22/10/2013 13:05

Thanks for posts Exel.I have held here for a long time and the lack of newsflow has always been frustrating.Agm report is therefore very welcome.
Key thing now must be the sales of the new products gaining traction in the market in order to capitalise on high r&d expenditure over recent years.
Year to 30/4/13 hopefully has provided a good platform to move on from.

[bollers] 22/10/2013 11:49

For anyone watching trades on L2 the 100K@1.44p@11.22 was a buy not a sale as mid price would suggest.

[cockerhoop] 16/10/2013 15:59

Exel,

Thanks for your Agm observations, much appreciated.

[exel] 16/10/2013 12:34

fair point d, this was always an illogical dip to get that party 'out' - at a significant undervalue. the only winner yesterday was the MM who handled it. long-termers, here, may have more to look forward to, in time, but this really is very 'long term' in an increasingly 'short term' world. ex

[davidosh] 16/10/2013 08:45

Well it looks like somebody dumped 3.5m shares and could only get 1.2p

I wish they had given me a call direct as the MM will unlikely let them out without getting a ridiculous turn on them. Micro caps are so illiquid that there has to be a better way to trade them if only the regular buyers had some way of showing they are there and sellers could advertise their intentions and vice versa.

[exel] 16/10/2013 08:34

It is very early days for the new CEO, although I am impressed by her. Certain things 'needed to change', and inevitably she is settling in to run things 'her way' with an experienced Board to guide her. The family linkage is as much of a strength, as not, arguably moreso - and she is very much her own person, in any case. So that aspect does not worry me. More impressive was the uplift in business levels to 30/4/13 and the platform this presents her, and the fact that the AGM was told that trading is 'in line with expectations' in terms of the current year (where it has long been stated to be a tad down on last year's record level due to lumpy orders fulfilled to 30/4/13). The 2 departing directors (neither 'young') are a separate issue. Do bear in mind that the new CEO is (in effect) a new post, so there was bound to be some 'settling' of structures and senior people. I am not privy to details, but take the view that the current year is year 1 of Marie-Claire's tenure and that last year (albeit with some material impairments to cleanse some technical 'book value issues') was the 'end of the beginning' for the Group. With new products now coming through to market, in both divisions, this year and next year will be the beginning of the 'next phase' and she has a solid start point from which to build. I personally think that it will 'take time' - but that the portents are 'on balance' generally favourable. My own analysis of group cash flow (an acid test) points to a +/ive turn, from the low point of FY2011, with FY12 and FY13 both trending upwards. It is all to play for. Clearly, more benign general market conditions (than for example the last 6 years!) will also be of assistance. Although this year's interims will be 'interesting', I sense that we will need to see the full year to 30/4/14 as a meaningful yardstick, by the end of which management structures should have been settled. ex

[cockerhoop] 15/10/2013 22:46

Exel,

It sounds like you were very impressed with the new CEO at the Agm. Looking on from a distance I was slightly concerned that a family member was brought in followed by a couple of directors departing. Are you able to reassure me?

Cheers

[exel] 15/10/2013 17:35

it now seems that this mini-SP-dip, yesterday & today, was attributable to a large-ish sell order for 3.5m, filled at tonight's close. presumably someone who didn't attend this year's AGM? or who does not 'believe' in the new product set here? or a forced seller? will there be other sellers at this level? or fresh buyers, or top-ups, on the back of what seems like irrational pricing? No idea! but this does now look a tad inexpensive by my calcs. ex

[bollers] 14/10/2013 13:06

..well if things are looking up I wish the directors would share it with us, share price continues to drift lower despite a generally bullish AIM market.

[fugwit] 12/10/2013 14:30

Thanks for that exel.

[exel] 12/10/2013 09:42

yes - it was generally a positive and very well attended event, too, biggest ever turn-out, in my experience of the last 10. (in the past, was once the only attendee apart from the Board). big clean up job now done re FY2103, div re-introduced, new products coming through in both divisions, and a new CEO in place with 'clear drive' to build the business. So things are definitely looking up for FY2014 and FY2015. broker write-ups & Edison all positive etc. DYOR. ex

[fugwit] 09/9/2013 21:29

Anyone heading to the AGM on Thursday?

[swong21118] 01/9/2013 21:21

Any news??

[mjcferguson] 20/8/2013 14:41

Directors keep buying.Still well undervalued considering cash generation and sales starting to show benefit of heavy r&d spend over recent years.

[mjcferguson] 20/8/2013 14:41

Directors keep buying.Still well undervalued considering cash generation and sales starting to show benefit of heavy r&d spend over recent years.

[oregano] 02/8/2013 09:38

Horndean.

that would concern me if they hadn't generated cash after capex in the last few years. Look at cash flow post capex - it has averaged £1.16m over the last two years. Good for a market cap of £7m.

their R&D expense is a big item in the cash flow (and consequently depreciation is a big item in the p&l).

there is a tax break of capitalising r&d instead of expensing. Note 7 in the accounts shows you this was £441k.

the big benefit here is when the R&D spend peaks, as cash generation would be even higher.

IMHO and all that.

[horndean eagle] 30/7/2013 13:16

Id place more focus on the write downs in intangibles. Company has been capitalising costs which really should be written off against the p+l. This has flattered the performance for a few years now. A bumper year this year gives them the chance to take the hit. Id be very wary.

[mjcferguson] 30/7/2013 11:44

Liquidity of Balance Sheet is also now much better.Good to see export figures growing well,a similar percentage growth in 2014 will start to make a difference.

[oregano] 30/7/2013 11:21

MJF - you may have a point. they got tax relief on dvt expenditure. cantor are forecasting they pay tax, and pe's are after tax.

plus the £1.7m figure is before finance costs.

[mjcferguson] 30/7/2013 10:43

Based on £2.5m p/e is three which is far too cheap.Even based on forecast for 2014 of £1.7m p/e is only about 4.5.