A leader in the design, integration, control and management of advanced surveillance technology and networked security systems.
12-Dec-2017 – 205p – £37.4m – PER 11.2
Trading Update For The Year Ending November 2017 – In-line, Revenue flat, PBT up 10%. Cash is up from £2.2m to £3.9m.
Not sure this is “in-line” but there’s still quite a lot to like here, except that Spread of 10% or so. Will have a further look at this.
20-Feb-2018 – 200p – £35.6m – PER 10.6
Results For The 12 Months To End November 2017 – In-line with expectations, R&D spend this year means expectations are broadly flat. A bit of a The Good, The Bad and The Ugly update for me. PBT, EPS and Dividend being the Good, the flat Revenue and Year End Order Book being the Bad and the outlook being the Ugly!
I just think there’s better companies out there to be investing in than this, Neutral for now.
17-Jul-2018 – 213p – £37.9m – PER 12.1
Interim Results For The 6 Months To End May 2018 – Revenue up 3% to £34.7m (2017: £33.7m), Order book up 18%, PBT up 12% to £1.5m (2017: £1.3m), Diluted EPS 5.9p (2017: 6.1p), Strong cash generation and net cash of £9.1m at 31 May 2018 (2017: £1.8m), Interim dividend increased to 1.2p (2017: 1.0p). FY to be in-line.
Quite like these results (and Stockpedia likes the stock, StockRank 95) but I still can’t be tempted to press the buy button here.
29-Nov-2018 – 190p – £33.8m – PER 9.80
Trading Update For The 12 Months To End November 2018 – PBT expected to be broadly in-line (below then!), Cash expected to be £6.5m (£3.8m last time) – Restructuring expected to be circa £2m, resulting in a positive contribution in FY 2019.
Stockopedia likes this more than I do (StockRank 97) at present.
26-Feb-2019 – 197.5p – £35m – PER 11
Results For The 12 Months To End November 2018 – Revenue up ever so slightly (£71.2m), PBT down slightly, Underlying Diluted EPS down from 15.2p to 12.6p, the year end order book is lower (£21m vs £24.4m last time) and the FY Dividend is up about 20%. Net Cash is up from £3.8m to £8.1m.
Stockopedia still likes this more than I do (StockRank 96) at present.
25-Apr-2019 – 197p – £33m – PER 9.7
AGM Statement – Delays, Order deferrals, Brexit, H2 weighting, FY to be in-line.
I still quite like this (Stockopedia too, StockRank 93) but that H2 weighting is a bit of a downer, I remain on the sidelines for now.
23-Jul-2019 – 185p – £31m – PER 8.3
Results For The 6 Months To End May 2019 – Revenue down slightly, PBT down -20%, EPS up slightly, Interim Dividend up slightly and the Order Book is up 23%. Expects FY to be in-line based on a stronger performance in H2.
The (at times) 10% Spread, the low margins and the H2 weighting put me off investing here – Looks quite appealing otherwise.
30-Oct-2019 – 179p – £32m – PER 10
Trading Update For The 12 Months To End November 2019 – Results expected to be materially below market expectations.
This is a pity but low margins and H2 weighting was plenty to put me off, last time I reported on this.