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% 160.00 35,511 07:47:31
Bid Price Offer Price High Price Low Price Open Price
155.00 165.00 160.00 160.00 160.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electronic & Electrical Equipment 12.68 -0.42 -1.80 26
Last Trade Time Trade Type Trade Size Trade Price Currency
16:25:40 O 10,000 164.00 GBX

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Zytronic Investors    Zytronic Takeover Rumours

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Date Time Title Posts
04/3/202111:46Zytronic - The Long Story1,199
21/5/201622:38Zytronic - 20091,164
30/4/200912:12Time for a Bull Flag from this Chart395
21/4/200915:09Zytronic plc2

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Zytronic (ZYT) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2021-03-05 17:25:40164.0010,00016,400.00O
2021-03-05 15:32:33159.001,4882,365.92O
2021-03-05 14:58:07159.001,7672,809.53O
2021-03-05 14:18:42165.004,0006,600.00O
2021-03-05 14:08:27158.50213337.61O
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Zytronic (ZYT) Top Chat Posts

Zytronic Daily Update: Zytronic Plc is listed in the Electronic & Electrical Equipment sector of the London Stock Exchange with ticker ZYT. The last closing price for Zytronic was 160p.
Zytronic Plc has a 4 week average price of 140p and a 12 week average price of 122p.
The 1 year high share price is 167.50p while the 1 year low share price is currently 77.50p.
There are currently 16,044,041 shares in issue and the average daily traded volume is 4,642,103 shares. The market capitalisation of Zytronic Plc is £25,670,465.60.
bones: Good riddance to them. The last thing a small company needs is unsupportive “institutional” investors, so-called long term backers. I refer always to my biggest holding since 2017, RUA Life Sciences, which had Miton as its main investor until 2019 when they bailed out for cash at bottom prices. The share price took off after that deadweight was removed and I hope that happens here at ZYT too!
bones: Comparing to past years can be misleading. For example: They are rolling out (if their Twitter feed is a guide) new products for areas such as healthcare. They have violently cut their overheads and manpower (we don’t know if Covid gave them the cover needed to cut away some “bloat” from their staffing; they are hardly going to say that if they can simply blame Covid in full). Casinos and gaming will come back but will ZYT be able to respond? My feeling is that they do have some impressive technology which their customers need. On the whole, I believe ZYT supply the product manufacturers who supply the casinos and other end users. ZYT are as much a tech company as they are a manufacturer. ZYT are at base camp now and their management do not talk up the company as perhaps they should. I find it hard to believe that they won’t see some sunny uplands ahead. If not, they should be looking for a buyer who can make use of their technological strengths.
mr5k: Remember "Shareholders should note that the price paid in any such buy-backs, if made, would be at a price per Ordinary Share of not more than a 5.0 per cent. premium to the average closing mid-market price for the five business days prior to the purchase." The odds on this investment are attractive: juiced up EPS and floor under the share price if poor trading continues.
bones: RNS out, about a 2/3 take up. “... the Company retains authority in its absolute discretion to purchase in the market, up to 2,271,662 Ordinary Shares being the difference between the maximum number of Ordinary Shares available to be purchased under the Tender Offer and the number of Ordinary Shares successfully purchased.” That should put a solid floor under the share price.
velocytongo: We should all hope the share price continues to fall into a buy back (btw they can't pay more than 5% of the av of the 5 preceeding days according the AGM resolution). The more ZYT buys the greater boost to future EPS. For example, 22p EPS in 2017 becomes 33p if the denominator (no. of shares) is reduced 30%. Applying a multiple of 15 that gets you to a share price of 450p - considerably higher than todays s/p. Character and Colefax are highly cash generative businesses that have repeatedly bought back shares of the years, which has significantly boosted the value.
bones: On 8th December 2020, Zytronic said: "The Board considers that a large proportion of these cash balances are surplus to current requirements, and it may be appropriate to distribute this surplus cash by a share buy back, and will seek shareholder approval for the requisite authorities at the next general meeting." What do they mean by "large proportion"? The majority of the £14M or a large minority of it? On balance, it sounds like over £7 Million. That's over 5 Million shares at current prices, for a share that barely trades 1,000 without moving one of the market makers' quote. They also just released a random "trading update" that was both vague and seemed to just repeat what was said in December. The cynic in me would argue that they wanted to damp down the share price quote ahead of the AGM on 25th February because it was starting to forge upwards. So, what will be the floor price for these buy backs? The cash currently accounts for about 75% of the market cap so it cannot be much lower. Then, who will sell to Zytronic when no credit is being given for its ongoing business, even if the current outlook is depressed (but no longer declining apparently)? Something does not square here so what gets said at the AGM will be interesting. Perhaps the management will give us some clearer guidance on intentions at that time. It does bug me a little that the management have each got less than 1% of the shares. That's a bit of flakey "skin in the game"! I remain long for the recovery prospects.
bones: Kiwihope, agree that there can be no certainty (if there was, the share price would reflect that). However, they own some tremendous IP and some of their technology is leading edge. I think there is too much focus on their old image of clunky ATM machine screen suppliers and not enough on their hover touch and sliding screen tech. An enterprise value of just £6M tells me that. They talked of returning surplus cash and the current share price suggests they should get on with it while its cheap for them to do so. That should help galvanise investors’ minds a little.
jamessmith23: Questioning the reason for changes in revenues, profits, share prices, etc is what a good investor does. Blindly accepting that management are the best and shouldn't be questioned isnt going to result in very good investment results because there are a lot of poor managers/directors out there so you do need to do your due dillegence. The share price is 75% down from its peak, they may have generated decent EPS but actual returns for most shareholders hasn't been great as this is the lowest the share price has been in 10 years. These boards exist for people to learn more, discuss and ask questions, if you don't want to do any of those things then why post at all? I appreciate hearing people's views and asking questions, it's how you create a balance argument which results in your choosing whether or not to invest in a business.
dangersimpson2: I doubt they need that much capex to ramp up production. It will require a reversal of recent working capital movements but little in the way of capex. And they have kept investing in IP during the recent falls in revenue. It is now about selling contactless touch and antiviral glass technology into customers ready for when the end-demand for vending, gaming, ATM & interactive exhibits returns. In any scenario they are significantly over-capitalised. The good news is they are finally deciding to return the cash to shareholders. They have chosen to utilise share buybacks, and although these are not everyone's cup of tea, if you think the shares are significantly undervalued this is the best use of the cash. For example, if fair value is around £3/share (which would be reasonable based on a return to normal FCF generation) the company buying 1/3rd of their shares back at £1.50/share would increase fair value by 25%. Of course, in reality, if they started buying back stock in size it would clear the weaker holders and the price would go up and they wouldn't be able to get significant volume at £1.50, but then I doubt shareholders would complain too much about the share price rising, especially if momentum traders jump on the rise and take the price above fair value!
kiwihope: I think these results are really pretty good in the circumstances. I don't know what some of you were expecting. There was a lot of froth on the share price before today and I always felt some pullback was inevitable. Look at the figures - sales almost halved and yet they managed to breakeven before exceptionals. Even after exceptionals there was only a small loss. Cash generation was positive. There is nothing wrong with this being due to reduced working capital. This is expected when sales drop by so much. It shows good cash discipline. Regarding share buybacks, if some of you guys thought the shares were a buy at this price, why not the company? If they have excess cash and can't sensibly invest it in the company then share buybacks are a very good idea. Better that than waste it on some useless acquisition. ZYT management do not hype the results like some companies. They seem sensible, feet on the ground types which suits me. All in all I am actually very pleased with these results.
Zytronic share price data is direct from the London Stock Exchange
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