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Zytronic Plc

0.00 (0.0%)
Share Name Share Symbol Market Type Share ISIN Share Description
Zytronic Plc LSE:ZYT London Ordinary Share GB0006971013 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 102.50 271 07:44:05
Bid Price Offer Price High Price Low Price Open Price
100.00 105.00 102.50 102.50 102.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Magnetc,optic Recordng Media 12.34 0.61 6.00 17.08 10.42
Last Trade Time Trade Type Trade Size Trade Price Currency
08:24:24 O 271 100.885 GBX

Zytronic (ZYT) Latest News

Zytronic (ZYT) Discussions and Chat

Zytronic Forums and Chat

Date Time Title Posts
26/5/202315:42Zytronic - The Long Story1,804
21/5/201623:38Zytronic - 20091,164
30/4/200913:12Time for a Bull Flag from this Chart395
21/4/200916:09Zytronic plc2

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Zytronic (ZYT) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type

Zytronic (ZYT) Top Chat Posts

Top Posts
Posted at 16/5/2023 15:51 by spob
Re Profdoc .... last post deleted

He is Professor Glen Arnold, author of the ADVFN deep value newsletter, which has just been discontinued.

He is now running a small deep value fund at Henry Spain (£160m invested)


He is now holding 4% of ZYT in this deep value fund

Not sure what percentage of the £160m is managed by their deep value fund. Perhaps someone else here can shed some light on that.

Posted at 04/5/2023 17:08 by cerrito
I note that they are guiding for this FY revenue to be £8/£8.8m. Let us say it ends up at £8.3m ie down £4m from 21/22.
They have told us that financial remains weak so I assume that Financial annual revenues go from £1.2m to £1m-remember 4 years ago they were £6m pa. They have not commented on vending, industrial, signage and other so I assume no change from last year,  although given the positive noises of the AGM TS, this may be pessimistic .  The maths under these assumptions would suggest that gaming declines by £3.8m from last year 's £4.7m which seems rather extreme. (Feel free to check my maths)
 As noted above all rather accident prone.
 To me key is they seem to have been caught on the hop by Aruze going into Chapter 11. Should we be critical of management for this,especially as travel,  conferences etcet have restarted which gives one the opportunity to pick up gossip.?I do not know and it seems the chapter 11 situation was rather murky so perhaps not reasonable to expect that news would have reached Newcastle. I see that Aruze claim to be operating normally post chapter 11.
 What I think is completely unacceptable is that Aruze Chapter 11was announced  on February 2nd and there was no mention of it in the Feb 9th AGM TS. I spoke to someone at Singers but he refused to comment. Zytronic failed to answer the phone. Were Zyt unaware on the 9th that this event that is so serious had happened a week earlier or were they being naughty. I will try and get clarification on this.
 With a very atomized shareholder base, plenty of cash and good unsecured freehold property assets apparently good product and technology, they would appear at current FX rates and share price to be a perfect takeover candidate. That said I do not understand the dynamics of the industry well enough to know if there are any obvious candidates in the industry who could get industrial synergies. Will be interesting to see if Harwood, Greshsm House get involved. 
I have not bought or sold today and not sure if I want to buy given this lack of transparency. 

Posted at 04/5/2023 08:37 by kiwihope
I bought my first ZYT in 2019 and bought again as the price dropped. This latest news is very disappointing. I am starting to wonder if this is a bit of a value trap - appears good value but recovery is always just around the corner.

I decided a couple of years ago not to buy any more and most certainly won't be tempted by this latest fall in price. This is now on my watch list for unwinding my position. Not saying I will but I am just starting to run out of a bit of patience...

Posted at 04/5/2023 08:17 by rivaldo
Indeed. It's just as well that against the now £9.4m/cap there's a £5.4m cash pile and a further £3.85m of property which hasn't been revalued since 2012.

ZYT do seem prone to "accidents", and this time it's the Chapter 11 of Azure Gaming. It'll be interesting to see just how prudent ZYT has been in writing off the £0.5m and how much will be recoverable if any. Meanwhile it looks like this year to September will be one of battening down the hatches again in readiness for a better year to Sept'24.

Good job I've only got a starter position here. ZYT's hints of recovery were never quite strong enough to warrant adding further until the proof was in the pudding.

Posted at 03/4/2023 16:45 by cliffpeat
Interesting to compare with ZYT

"[Quixant] is headquartered in Cambridge, United Kingdom, with our subsidiary companies located across the world, in Italy, Germany, France, Finland, Slovenia, USA, Taiwan and Japan. The majority of Quixant product manufacturing is based in Taipei, Taiwan, with Densitron offices of expertise established in Asia, Europe and North America."

In their "Gaming overview" they say:
"Why customers select us
The gaming computer platform is invisible to the player and yet
manufacturers expend significant R&D effort to design regulatory
compliant solutions in-house. We allow them to outsource this
effort by using our purpose-built, off the shelf solutions. We now
also offer our computers in a turnkey cabinet solution to allow a
complete outsource of everything except the game content."

How does this compare to ZYT's sales strategy?


Q Sales $120m Gaming 62% Adjusted pre-tax profit $10.2m Report PTP $8.8m
Z Sales £12.3m Gaming 38% Pre-tax profit £0.7m

So Q (or Nextec) is 10x the size of Z and makes a (fairly) comparable profit.

Posted at 06/3/2023 09:54 by rivaldo
Certainly looking better here recently - haven't seen any tips or mentions so presumably just underlying demand for the shares.

ZYT have won a trade show award:


"We are proud to announce the Zytronic Multitouch Monitor has won a Best of ISE 2023 Award.

We are proud to announce Zytronic has won the award for Most Creative Touch-Screen Control System Interface: Zytronic Multitouch Monitor as a part of the Best of ISE 2023 Awards.

Congratulations to our Research & Development team on coming up with yet another winning design to showcase our capabilities in touch technology.

If you’d like to see our winning concept in action, check out this video:"

Posted at 15/2/2023 10:47 by rivaldo
MarkAtkinson's podcast in post 1756 above is well worth a listen. As well as the £6.8m cash pile, he's reminded me that there's a further £3.85m of property which hasn't been revalued since 2012!

Questor in today's Telegraph says Hold - again, nicely summarised. When to top up is the quandary, especially given ZYT's illiquidity. By the time improved trading is announced (which I believe will happen at some point) it'll probably be too late, the question is how long/short the timeframe:

"Update: Zytronic

Smaller companies are often more exposed to cost and supply chain pressures, as they do not have the clout to stand up to larger suppliers, distributors and customers, and last week’s trading update from Zytronic makes it clear that the rugged screen maker is still having a tough time of it.

However, the company’s competitive position remains strong, since orders continue to come in, and a net cash pile of £6.8m provides ample support to the £13m market cap. We shall simply have to hunker down and wait.

It is so difficult for Zytronic to procure required parts that the Newcastle upon Tyne company is either paying premium prices or cannibalising finished, manufactured product so it can fulfil orders. Rising costs here and wage increases could impact earnings, especially in the second half of the current fiscal year from April to September.

It is therefore asking too much to expect earnings to rebound rapidly to past peaks of £4.6m from last year’s £611,000, but they do not have to do so for the shares to be cheap.

Average annual net income since 2000’s flotation is £1.6m so Zytronic trades on barely four times that, if you strip out the cash, while the stock also trades at a discount to net asset, or book, value. The cash and lowly price tag mean we can afford to await a positive catalyst.

Questor says: hold
Ticker: ZYT"

Posted at 14/2/2023 11:04 by rivaldo
Paul Scott on Stockopedia did a write-up on ZYT the other day - a fair summary at this stage, reflecting the defensive quality via the asset backing, the potential upside and the current state of play:

"Zytronic (LON:ZYT)
Market cap £13m

AGM Trading Update & Board Changes

The current financial year is FY 9/2023, so this update covers the 4 months to Jan 2023.

It’s a bit lacklustre, hence the share price dropping c.12% yesterday.

What surprised me was the comments that supply chain issues are still having a significant impact, with shortages of components causing it to pay more for unofficial supplies, and cannibalising finished goods for the components, which sounds a bit extreme, and would presumably involve extra labour costs (and maybe having to write off other inventories?). It’s not good anyway.

Monthly order intake similar to H2 last year. That’s not good, as H2 LY was only £4.9m order intake, suggesting that the current revenue run rate could be as little as £10m annualised.

Pipeline – sounds more encouraging, with £61m in lifetime value of contracts, although that’s multi-year, and not all of it will actually turn into contracts. I prefer firm orders, to numbers on pipeline of potential opportunities.

Although this all sounds rather negative, the good thing about Zytronic is it has a proven ability to operate around breakeven, even in very slow years. In good years, it has been highly profitable. Plus of course there’s pots of cash in the bank, relative to the size of the company.

Net cash is now £6.8m, just over half the market cap. It’s genuinely surplus cash too, if you look at the last balance sheet, net current assets was £9.8m, with no significant long-term liabilities.

So this share tends to attract value investors, who like the strong asset backing, and you’re getting the business thrown in for very little extra – a nice combination I think, for patient investors.

Outlook – a stronger H2 expected, although it cautions that pay rises for staff are likely to be more than budgeted.

My opinion – this is an interesting little value share. You have the comfort of strong asset backing, supporting most of the share price. Then you get upside from a possible recovery of the business, on top of that.

So a thumbs up from me, as a value share. Note also the consistently high StockRank.

It’s interesting to note a permanent de-rating of this share from the 5-year chart below. That came about because, as it turned out, the company had a number of key products that reached end of life, with repeat orders drying up. That’s the sort of thing that only insiders really know about. We always think we understand companies we invest in, but the reality is that outside shareholders usually haven’t got a clue about the inner workings of any companies we invest in.

The number of shares in issue has fallen from 16m to only 10m, following large buybacks. So theoretically, if orders recovered to previous levels of profitability, this share could not just recover to 500p, but go considerably higher. So there’s an opportunity here, we just don’t know whether that positive scenario will play out, or not."

Posted at 27/1/2023 12:43 by rivaldo
HotStockRockets (!) yesterday posted this article changing their stance on ZYT to a Buy. I have no idea what the rest of the article says as it's subscription-only:


"Zytronic – now a recovery Buy?

By HotStockRockets | Thursday 26 January 2023

In August we downgraded our stance on touch sensors company Zytronic (ZYT) to sell with the shares at 135p as we noted the short-term outlook looked challenged. Despite the recent somewhat stock market recovery, that has proven sensible as the shares are now at an offer price of...135p. That is though a recovery from 112.5p at the start of October and there now looks reason to believe that the recovery has a good deal further to go."

EDIT - intriguing that someone's downticked this! Oh well.....

Posted at 17/2/2022 18:42 by sturmey
In response to she-ra

In the past, I didn't see the point of share buy-backs until I twigged. This is partly because my two largest holdings (Apple and Diageo) are aggressive users of share buy-backs. Take a look at their long-term share price charts

Put simply, the market cap (as velocyTongo points out) is the number of shares X share price.

Assuming that the value of the company (ie the market cap) is unchanged by the buy-back (a pretty decent assumption) then fewer shares means a higher share price. The market cap is essentially the value of the company so therefore should be not related to the number of shares in issue.

I am a long-term (and reasonably large) holder of ZYT. I think its a great little company and have had 2 factory tours. But it is a minnow. But that also means it can operate in a niche which would not attract big players. I would not be surprised to see it taken over. I am also a holder of Air Partner which is currently under offer (which I hope will be increased). The parallel with AIR is that both are out-of-favour undervalued UK small caps. VNET is another example (which I hold).

I was poised to top-up my holding in ZYT a few days ago but was quoted 153p on a large spread so I declined.

On a risk/potential reward ratio, ZYT is a steal at the current price. But not for "widows and orphans".

Zytronic share price data is direct from the London Stock Exchange
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