| 12:51 03/05/2012 | Re: What? |
| I know the cash position is not good. Expect further falls in the share price. By numberbiter |
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| 0:09 31/03/2012 | What? |
| OK, who knows what? By stock cube |
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| 21:02 21/12/2011 | Re: Red alert |
| Numberbiter, this company has had periods before when the cashflow has looked a bit ugly and the capex has appeared ludicrously high. Nevertheless, to give credit to the management, they have generally invested in the future of the company and left it strongly placed to continue the growth record seen over the last 10-15 years. If the next six months don't see a turnaround in the cashflow then I will agree with you but in the meantime I am prepared to give the management the benefit of the doubt as they have delivered in the past. By Meanbugger |
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| 17:53 21/12/2011 | Red alert |
| The 6 months' results, out today, were reviewed by the 'market' as good and the price of the share shot up to 1,225p. However, a major worry has to be that in the last three accounting periods the cumulative OUTFLOW from operating activities has been £2,174k. In that time the cumulative net profit amounts to £11,357k. So the difference between profit and cash generated, on a like for like basis, is a massive negative figure of £13,531k. It is always a worry when a profitable company fails to not only generate cash, but instead consumes it, which means it can only invest for the future by borrowing more. If I were a shareholder, which I'm not, I would place this company on 'red alert'. By numberbiter |
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| 17:28 31/08/2011 | IC |
| Costs hit Goodwin Created: 31 August 2011 Written by: Stephen Wilmot http://www.investorschronicle.co.uk/Tips/Buy/TipsOfTheWeek/article/20110831/318ed61e-d3c7-11e0-9ac6-00144f2af8e8/Costs-hit-Goodwin.jsp Goodwin's results look poor at first glance. Sales at the family-run engineer were flat, profits fell sharply and, worryingly, cash flowed out rather than in. There were bright spots, though. Its refractories segment, which makes moulds for jewellery and insulation for products such as wood-burning stoves, grew strongly. But that was more than offset by falling revenues and surging costs at the larger engineering business, which sells valves and pumps to the oil & gas and power industries. Chairman John Goodwin remains resolutely upbeat, stressing that the company has been investing heavily in future growth. His strategy has been to make its many overseas operating companies as self-sufficient as possible in order to cut raw material and transport costs and provide a locally sensitive service. That's sensible, but requires plenty of upfront investment in overseas assembly facilities - £6.3m was spent on property, plant and equipment during the year, mainly in Brazil, India and Thailand. That, and a £8.5m increase in working capital, took a heavy toll on cash balances, boosting borrowings. Mr Goodwin grumbles that it has become hard to get upfront payments for contracts since the recession; even large clients are hoarding cash. GOODWIN (GDWN) ORD PRICE: 1,200p MARKET VALUE: £ 86.4m TOUCH: 1,191-1,250p 12-MONTH HIGH: 1,500p 1,180p DIVIDEND YIELD: 2.4% PE RATIO: 24 NET ASSET VALUE: 568p** NET DEBT: 21% Year to 30 Apr Turnover (£m) Pre-tax profit (£m) Earnings per share (p) Dividend per share (p) 2007 65.3 7.04 65.1 18.4 2008 80.6 9.82 91.1 23.0 2009 101 13.1 122 27.8* 2010 93.0 13.3 118 27.8 2011 92.9 8.20 50.4 29.2 % change - -38 -57 +5 *Excludes a 27.8p extraordinary dividend **Includes intangible assets of £10m or 139p a share TIP UPDATE: Buy Mr Goodwin has taken a big bet on future emerging markets growth, and it may well pay off. But with the shares having recently tested an all-time high and the macroeconomic environment deteriorating, we prefer to spectate from the sidelines. With the shares up 7 per cent on our original buy tip, we downgrade to fairly priced. By SpikeyDT |
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| 10:42 06/12/2010 | Re: How high can it go? |
| Yes it's served me well also - a nice steady backbone that has grown well ahead of the general market without all of the peeks and troughs. I do wonder how long before someone makes them an offer they can't refuse - both for the company and to get the core of the senior management team on board as very few other UK based engineering companies have anything like the trackrecord in international expansion. Nice to see someone else is watching... By teddybear1962 |
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| 21:09 02/12/2010 | Re: How high can it go? |
| I think it can go higher. In my portfolio, I view this share as a bet on falling sterling and rising oil prices both of which look like continuing in the short term. I always wondered about their very heavy capital investment in the past but it has put the company in a world-leading position for heavy steel castings and high integrity valves for the oil industry. They now seem to be developing an equally strong position in jewellery casting powders - again focused on overseas sales. This has been a terrific investment for me and I think the Directors should be praised for what they have achieved over the last 10 years. By Meanbugger |
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| 17:04 15/10/2010 | Re: How high can it go? |
| Guess Not... By teddybear1962 |
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| 21:08 11/10/2010 | Re: How high can it go? |
| Is there anybody there? By teddybear1962 |
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| 11:59 28/09/2009 | Re: How high can it go? |
| I doubt it when Directors are selling at £11.33. By Harry_Lime |
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| 13:42 29/05/2009 | How high can it go? |
| The management of this company is not one for sitting back, majority family owned the past and future rely upon their involvement. While sales may fall significantly in the short term due to global issues thaey are ready for the upturn in events and can readily capitalise on their reputation and position. Could we be looking at £20.00 per share any time soon? By Inforthelongrun |
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| 0:41 27/11/2008 | Re: SP 112.50 (12.33%) |
| I understand that it is joining the All-share Index and therefore the index-tracking funds will have to buy the shares. As the market in the shares is tighter than a gnat's ....... then a little buying could force the shares up quite a long way. £20 here we come. :-) By Meanbugger |
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| 12:34 26/11/2008 | SP +112.50 (12.33%) |
| Any idea whats triggered this jump ? By Chance1234 |
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| 18:45 11/07/2008 | Re: Share Price |
| I got out once it had dropped 30%, which it did quickly, and means I'm back where I started and lost my gains, but at least I've prevented any losses. It's down even further today, so a wise move. I'm virtually out of the stock market now, and will stay out until there is a real sign of some upward movement, e.g. 10% up from a 12 month low. By Rab Munro |
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| 18:28 11/07/2008 | Re: Share Price |
| I think the problem is that a lot of low-quality buying took the price up from 1150p to 1400p. Once these new shareholders lost interest and tried to sell, the illiquid market in the shares has meant they have dropped like a stone. These shares are easy to shift in a rising market but impossible to sell if no-one wants to buy. This was a 20-bagger for me at £14. When I first bought about 10 years ago the PE was about 3. At £14 it was on about 18x this years earnings which was historically very pricey. I think the underlying business continues to go well but obviously they have been hit by a lot of cost increases for raw materials and energy which they might not have been able to pass on in their entirety. I'm holding on but I'm a bit disappointed with myself for being greedy and just watching the shareprice climb to silly levels. By Meanbugger |
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