Tribe Technology set to deliver healthy pipeline of orders from Tier-One miners. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Simon Thompson raised his target price to 390p last night.
GLA
Strix reports Very Strong Results today.
I would say 450 pence is fair value currently now. I can see brokers upping Strix share target price again.
Here are highlights of Strix results:
AIM-listed Strix Group has grown revenues by more than 50% in the first half of this year driven by both organic growth and the acquisition of LAICA.
The Isle of Man-based which specialises in temperature control systems for kettles, reported revenues of £54.7m for the six month the end of June 2021.
That’s up 57.6% for the same period last year and an increase of 24.6% versus the same period in 2019.
The LAICA acquisition delivered strong revenue growth over the period as the Group bounced back to higher than pre-pandemic levels.
Adjusted EBITDA increased to £17.4m compared to last year’s £13.6m), representing a 27.9% increase.
Mark Bartlett, Chief Executive Officer of Strix Group plc, said: “Strix has experienced positive trends and momentum in H1 2021 and achieved significant revenue growth compared to the COVID-affected prior year and remains confident that it will deliver revenue growth of circa 30% for the Group in 2021.
“We are benefiting from being a world leading innovative and sustainable technology business and our continued focus on efficiency measures and strategic initiatives enables us to continue to prudently invest in compelling growth opportunities.”
#KETL Record interim results were driven by a combination of increased demand, as Strix’s key markets emerged from the pandemic-led recession, and the acquisition of LAICA in October 2020. The new manufacturing facility opened in Guangzhou Province, with the level of production automation rising to 73% and significant capacity remaining to facilitate a further expansion in activity levels.
Several new products were launched, not least Aurora in June in the UK, with an encouraging pipeline for H2 and into FY22. Although gross profits improved 48.6% y-o-y, margins declined, which predominantly reflected the lower returns at LAICA. The record H1 profitability and an encouraging H2 pipeline of product launches allowed Strix to increase the dividend by 5.8% to 2.75p.
Our key valuation model suggests that Strix is currently trading on a discount of between 5% and 28% relative to the peer group averages. We have increased our Fair Value to 400p/share.
https://www.equitydevelopment.co.uk/research/strong-recovery-underway
More to go at Strix says Diverse Income Fund Manager, AA - rated. My thoughts as well. Wallet Investor says £7.85 in 5 years time but I would be looking for further upside.
Here’s the read below:
Gervais Williams: Strix brews up big gains
Diverse Income (DIV) manager Gervais Williams believes there is more to go at kettle parts manufacturer Strix (KETL).
The manager of the £434m investment trust invested in Strix at its initial public offering in August 2017 at 100p per share. The shares were down 3%, or 10p, at close on Monday, trading at 346p.
‘The prospects for the business have improved over the last four years. In August, it was one of the strongest performers in the trust’s portfolio and at the end of the month it was at 375p,’ said Williams, who manages the portfolio with colleague Martin Turner. Both hold AA manager ratings from Citywire.
Williams added: ‘Furthermore, when Strix was issued, it was expected to pay a generous dividend, and has subsequently grown it. Overall, it has delivered an annualised return of 34.2% since August 2017.’
Gervais Williams: Strix brews up big gains
Diverse Income (DIV) manager Gervais Williams believes there is more to go at kettle parts manufacturer Strix (KETL).
The manager of the £434m investment trust invested in Strix at its initial public offering in August 2017 at 100p per share. The shares were down 3%, or 10p, at close on Monday, trading at 346p.
‘The prospects for the business have improved over the last four years. In August, it was one of the strongest performers in the trust’s portfolio and at the end of the month it was at 375p,’ said Williams, who manages the portfolio with colleague Martin Turner. Both hold AA manager ratings from Citywire.
Williams added: ‘Furthermore, when Strix was issued, it was expected to pay a generous dividend, and has subsequently grown it. Overall, it has delivered an annualised return of 34.2% since August 2017.’
Strix Substantially Undervalued. The 460p Broker target (most recent) still is too low IMHO. More broker upgrades coming.
DG12: I agree this Strix totally undervalued even at current trading conditions. £7.85 share target (5 years time as Walletinvestor says) is way undervaluing this company & its trading prospects. Company growth in coming years will be at higher pace & this £7.85 seems too conservative IMHO. I was thinking a merger of their newer operations to bulk up will likely push up profit margins, reduce overheads, increase sales & geographic sales coverage. Then the thermostats business having higher sales on newer product ranges. Share price will move higher with more investor analysis, reports & company news. This Strix is so well run & company growth is shifting up gears. I see only Buys for this shares for investors wanting Growth, Value & Stability even in Difficult Times Too !
Really like the calm, efficient way this company is run. No fuss, just steady execution. Perhaps the best holding in my p/f !
*** Equity Development Investor Webinar with Strix Group - 24 September ***
Strix Group plc will be conducting an investor webinar covering their Interim Results.
The online presentation will be hosted by Mark Bartlett, CEO, and Raudres Wong, CFO.
This event will take place at 11.30am on Friday 24th September.
The webinar is open to all existing and potential shareholders. Questions can be submitted during the presentation to be addressed at the end.
Sign up here to register: https://www.equitydevelopment.co.uk/news-and-events/strix-presentation-sept2021
Thanks DG!
Thanks Riverbliss, Liberium say "our purpose is to deliver good ideas to institutional clients" so I guess this rise is caused by the initiation of institutional purchases, albeit at a pretty modest level so far.
Nice!
Ah good news, thanks riverbliss. That's probably it as you say. K
Liberum have just put out a 'buy' recommendation with a target price of 460p, which may explain the rise.
No idea I'm afraid Tees, it's very welcome though. Let's hope there's news in the offing.
anyone know what has caused the sharp SP rise today?
Techinvest August edition has an update on Strix
1 yr target price 433.978p and long term double 400p at least
New edition of tip newsletter out Sat 31st July.
Possible updates on MWE,KETL,CHRT,CER,D4T4,KAPE ,etc
The pre-close update demonstrates ongoing strong trading across the Group, with revenues ahead 50% yoy in H1 and in-line with previous guidance (+30% for FY21 and a doubling of revenues by end 2025). Both the continued recovery within Kettle Controls and the traction that new products are seeing within the water and appliance segments, drove the strong progress during H1. Gross margins remain in-line following price increases within legacy products and ongoing efficiency measures.
We see no reason to adjust estimates at this stage, with further guidance to emerge at the interim results in September. Yet we continue to feel that the current undervaluation of Strix shares is unwarranted, relative to both its peers and to growth levels.
https://www.equitydevelopment.co.uk/research/simmering-nicely
Great presentation this evening outlining their 5 year strategic plan. Lots to like for a strong long-term investment.
GLA
#KETL this story just keeps getting better and better. Today we upgrade EPS expectations, yet PER is still at a discount to peers. Parity with those peers’ gives a fair value of 350p, 20% above today's price. https://www.equitydevelopment.co.uk/research/upgrades-highlight-groups-undervaluation
https://www.investorschronicle.co.uk/ideas/2021/05/27/simmering-up-for-a-chart-break-out/
Simon has a new target price of 330p
GLA
It is indeed!
So a 5 year plan to double revenues has seen them increase by 30% in Year 1!.
Plus it sounds like we have increased margin in the controls area with more to come.
Plus we have multiple new products hitting the market
Plus we are successfully penetrating industrial scale filtration in China.
Great update
What a wonderful AGM statement . Thank you!
Looks like 300p over coming. Then more upside. With AGM next week.
Cheers1: Times Newspaper Tempus Share Tip Today.
Can you put extracts on this chat board for us to read. Just helpful. Thanks pernix