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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Spectra Systems Corporation | SPSY | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 4.00 | 1.72% | 236.00 | 16:09:48 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 232.00 | 232.00 | 237.00 | 236.00 | 232.00 |
| Industry Sector |
|---|
| SUPPORT SERVICES |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 31/03/2025 | Interim | USD | 0.116 | 13/06/2025 | 13/06/2025 | 27/06/2025 |
| 27/03/2024 | Final | USD | 0.116 | 14/06/2024 | 14/06/2024 | 28/06/2024 |
| 27/03/2024 | Final | USD | 0.116 | 13/06/2024 | 14/06/2024 | 28/06/2024 |
| 27/03/2024 | Final | USD | 0.116 | 04/06/2024 | 05/06/2024 | 24/06/2024 |
| 20/03/2023 | Final | USD | 0.115 | 01/06/2023 | 02/06/2023 | 23/06/2023 |
| 21/03/2022 | Final | USD | 0.11 | 01/06/2022 | 06/06/2022 | 24/06/2022 |
| 22/03/2021 | Final | USD | 0.095 | 03/06/2021 | 04/06/2021 | 25/06/2021 |
| Top Posts |
|---|
Posted at 16/6/2025 08:43 by zho There's a full page write up on SPSY in Moneyweek:A boffin-led firm with business savvy Patients investors will get paid well as they wait for success from this promising AIM stock |
Posted at 12/6/2025 10:35 by harrogate Ex dividend |
Posted at 28/5/2025 08:37 by zho Perhaps a little hurried? The outgoing FD's bio is still on the SPSY website. |
Posted at 23/5/2025 09:47 by cp42kx07 Indeed, no real news since last July. This certainly doesn't support the idea of SPSY as a growth investment. |
Posted at 01/4/2025 14:50 by leedsu36 • 2024 revenue rises 142 per cent to $49.2mn• Underlying pre-tax profit up 46 per cent to $12.1mn • Earnings per share (EPS) of 18.9¢ ahead of 18¢ estimates • Annual dividend of 11.6¢ • Net cash of $8.5mn exceeds forecast of $6mn Aim-traded technology company Spectra Systems (SPSY: 205p) has reported annual revenue and earnings ahead of upgraded forecasts with net cash also comfortably ahead of the expectations I outlined ahead of the results (‘This company’s strong earnings are woefully underrated’, 20 February 2025). The company is a specialist in banknote authentication, brand protection technologies, security printing and gaming security software. Part of the $3.7mn outperformance of Allenby Capital’s revenue estimate reflects the pull forward of a huge $39.6mn (£30.6mn) contract Spectra was awarded (in July 2024) to manufacture advanced high-speed banknote sensors for a central bank. However, the majority of revenue from the contract will be booked between 2025 and 2027. So, although analysts at both Zeus Capital and Allenby clipped in their 2025 revenue estimates by a similar amount to $52mn, the impact on earnings forecasts is minor with both broking houses still expecting pre-tax profit and EPS to more than double to $25mn and 38.1¢ (29.5p), respectively. Moreover, analysts expect net cash to increase to $10-11.5mn by the year-end, a healthy sum in relation to Spectra’s £99mn market capitalisation. Read more from Investors’ Chronicle The funds toughing out the market sell-off Construction impacts of the California fires The other key take from the results were the comments from chief executive Nabil Lawandy on Wolverhampton-based Cartor Security Printers. Acquired in December 2023, Castor has advanced Spectra’s position in the $1bn global polymer substrate market for banknotes and strengthened its competitive position against incumbents De La Rue (DLAR), Crane NXT (US:CXT), and CCL Industries (CA:CCL). Lawandy notes that through efforts at Cartor “we have continued our progress with a major central bank to achieve qualification and near-term participation in a tender for polymer banknote substrates.” Upside from any contract award is not embedded in earnings forecasts. In addition, Lawandy notes that “the business brings many optical materials opportunities through Castor’s existing sales pipelines and has provided Spectra with rapid access to a number of large corporate partners, which can adopt and drive sales of our cutting-edge authentication technologies.” Potential for further outperformance is certainly not being reflected in Spectra’s current valuation as the shares trade on a forward price/earnings (PE) ratio of 6.9, less than half the rating of CCL Industries and a 46 per cent discount to Crane NXT. Spectra’s shares also offer a 4.3 per cent dividend yield and are priced on material discounts to analysts’ fair valuations of 355p (Allenby) and 280p (Zeus). Please note that Spectra has two classes of shares, and the unrestricted ones (AIM:SPSY) are the most liquid. Buy. |
Posted at 21/2/2025 12:41 by leedsu36 Strong earnings growth profileSo, with interim results de-risking full-year earnings estimates, analyst David Johnson at joint brokerage Allenby Capital pencils in 41 per cent growth in Spectra’s pre-tax profit to $11.7mn on 124 per cent revenue of $45.5mn in 2024. On this basis, earnings per share (EPS) rise 30 per cent to 18.7¢ (14.9p), implying the shares are rated on a trailing price/earnings (PE) ratio of 14.4. Furthermore, although Spectra had net borrowings of $0.3mn on 30 June 2024 due to the working capital build in relation to the July 2024 contract, the central bank subsequently made an initial cash down payment of $9.4mn which supports Allenby’s closing net cash estimate of $6mn. Net cash could more than double to $13.7mn by the 2025 financial year-end as Spectra is expected to more than double pre-tax profit and EPS to $25.3mn and 39.4¢ (31.3p), respectively, on revenue of $54.8mn. On this basis, the shares trade on a miserly forward PE ratio of 6.9. Prospective dividend yields of 4.5 per cent (2024) and 4.8 per cent (2026) add to the attraction. Spectra shares have delivered a total return (TR) of 71 per cent since I suggested buying at 135p (‘Alpha Research: Don’t miss out on the authentication boom’, 22 August 2022), during which time the FTSE Aim All-Share TR index has shed 16 per cent of its value. However, the share price has dipped 13 per cent since the interim results (‘This stock's earnings upgrade cycle will keep turning’, 2 October 2024). The de-rating is wholly unwarranted and offers a repeat buying opportunity with 50 per cent upside to my target price of 325p. Please note that Spectra has two classes of shares, and the unrestricted ones (AIM:SPSY) are the most liquid. Buy. |
Posted at 21/2/2025 12:40 by leedsu36 Banknote manufacturer could double earnings this year with a prospective dividend yield of 4.8 per cent.Aim-traded technology company Spectra Systems (SPSY:215p) is forecast to report record annual results at the end of March and double earnings in 2025. It’s not wishful thinking, nor is it being priced into the valuation of the £105mn market capitalisation company that makes its money from banknote authentication, brand protection technologies, security printing and gaming security software. That’s because Spectra was awarded a massive $39.6mn (£31.4mn) contract to manufacture advanced high-speed banknote sensors for a central bank in July 2024. The majority of revenue will be booked between 2025 and 2027, with a trailing manufacturing agreement worth $4.5mn per year thereafter likely to be secured in the current quarter, but the contract will still make a material contribution to last year’s result. In addition, the acquisition of Wolverhampton-based Cartor Security Printers is working out well. Earlier this month, Castor announced a five-year contract (worth $3-4mn) to produce definitive postage stamps for a European Union postal stamp supplier. Castor’s technology incorporates 2-D barcode serialisation to significantly reduce losses from counterfeiting and the reuse of stamps. The acquisition of Cartor in December 2023 has also substantially advanced Spectra's position in polymer substrate for banknotes and strengthened its competitive position against incumbents De La Rue (DLAR), Crane NXT (US:CXT), and CCL Industries (CA:CCL). I understand that a second prospective Middle Eastern central bank has approached Spectra about its Fusion polymer banknote substrate. Potential polymer banknote substrate contract awards are not embedded into analysts forecasts, so offering scope for upgrades if they materialise, as seems likely. |
Posted at 21/2/2025 12:39 by leedsu36 Record results expected to be announced in late MarchEarnings set to double in 2025 2025 forward PE ratio of 6.9 and dividend yield of 4.8 per cent Net cash forecast to double in 2025 $3-4mn recent contract win |
Posted at 21/2/2025 08:17 by zho Yes - well spotted.This company’s strong earnings are woefully underrated Simon Thompson: Banknote manufacturer could double earnings this year with a prospective dividend yield of 4.8 per cent |
Posted at 26/9/2024 10:04 by brucie5 380025 Sep '24 - 20:48 - 6375 of 637-------------------- 380025 - I'm a very unsophisticated investor, so for this kind of info I'm generally happy to rely on Stocko, on the understanding that their data can be off by a point or two. In particular their given dividends are never to be relied upon and I - along with many others i suspect- have pointed this out, to no avail. I hold SPSY in a 3rd party trust account on behalf of a life time beneficiary dependent on the income, which holds the specific challenge of growing the folio while paying out all the dividends with additional non-discretionary management charges on top. In addition trusts are only allowed 50% of standard CGT, which itself has been reducing each year by 50%, so it is difficult to trade up to achieve growth. So I need to find on the one hand shares that supply high dividends and on the other, shares that - while being cash generative and shareholder friendly -simply grow over time and can be left largely alone; SPSY belongs to the latter category along with PLUS, IGG, and a few others like SSE, which I chose to recycle when it slashed its own dividend. Not seeking to bore you but merely to explain the relative attractions of a business like SPSY; so long as it remains on course to grow while paying dividends, I'm not fussy. Needless to say, in this situation, dealing costs are something I need to avoid as that just creates another drain on capital. In conclusion, I'm a fan of SPSY, though I don't actually hold it on my own account at the moment. but that's another story. ;) |
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