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ANG - Austin Engineering

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Dabas

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Quite a rollercoaster for this stock.
Meteoric rise (133% since July) :)
Then 6.5% drop today. :mad:

Dabas
 
AGM guidance was for 3.25-3.75m PBT for the first half. A quick and dirty calculation of doubling this and subtracting 1.8m tax (as per 2005 annual report) gives NPAT 5.2m which give an EPS of 13cps based on 43m shares on issue. So what to assume for a reasonable PE? 10? Does that sound good to you? So price target might be around 130 cents.

All the anecdotal evidence I've heard indicates that mining service companies continue to work flat out -still can't buy truck tyres for love or money,
geologists now spend their days posting on internet bulletin boards rather than kicking rocks etc etc.
 
Broadly inline with guidance. PCP profit was inflated by the sale (and subsequent leaseback) of the company's premises, so the 130% profit increase is even better than the bare figures suggest.

....................................Half Year to .................................Half Year to
................................31 December 2006.................... 31 December 2005
Revenue (incl. gain on
sale of properties in 2005) ..29,393,074 up 15% from ...........25,503,413
Revenue (excl. gain on
sale of properties in 2005).. 29,393,074 up 25% from........... 23,604,992
NPAT............................... 2,332,840 up 130% from ............1,015,816

Dividends
The company paid a fully franked dividend of 2.0 cents per share on 31 October 2006. A maiden interim dividend of 0.5 cents, fully franked, has been declared on 27 February 2007.

The increase in revenue and net profit after tax for the period ended 31 December 2006 over the comparative period is principally due to strong performance from the existing businesses and the addition of the business of Kaldura Industries in Mackay. The Company has also continued to benefit from the strong demand for its range of JEC products, including dump truck bodies and excavator buckets, as now manufactured in the Company’s Western Australia and Queensland operations.

The company has a 50% interest in the Majan Aluminium Services Company, a joint venture formed for the purpose of manufacturing aluminium busbars for the Sohar Aluminium Company, which is constructing a new aluminium smelter facility at Sohar in Oman.

The buoyant market conditions in the Western Australia mining and resources business sector also resulted in orders being secured for multiple-quantity batches of identical tray bodies. Utilising its robotic welding systems, the operation achieved improvements in the throughput and completion timescales for the manufacture of these bodies. It is expected that further productivity improvements will be achieved during the second half of the financial year following changes to the configuration and layout of existing workspace.
Click to expand...
 
ANG today announced the award of a major contract for its WA operation. The order is from an international original equipment manufacturer (OEM) for the supply of 20 dump truck bodies and 4 large excavator buckets for a new West Australian mine. The total value of the order is $7.2 million.
Click to expand...
Annualised revenues were about $60m prior to this contract. So it's a reasonable size for this company. 43m shares. From the most recent half-yearly report, $2.3m profit for half year = EPS of 5.3c for the half-year.
 
Austin Engineering hit a new high today and jumped 12%. I don't see any new announcements. So does anyone know why the sudden jump?

And I guess the real question is it likely to stay or will we see people taking their profits?
 
I suggest holding on.
ANG has had similar situations in the past.

Just be sure to set up a stop loss instruction in case there is a major fall
 
This has been going along nicely and another good increase today to break away from the $1.80 resistance.

Look forward to their end of year report coming out.
 

Attachments

  • AUSTIN ENGINEERING.pdf
    33.5 KB · Views: 184
Looks great, does it not?

Anybody taking the recent share offer, has already seen a 33% increase!
Not bad for just one month!

Dabas
 
Closing nicely at 1.93, great day for ANG. Anyone aware what date the Full Year Results are due? August some time?
 
Their last annual report came out 26th September, but they also released a preliminary report 29th August last year. So would suggest we can expect to see around these time frames this year too.

Hopefully they also have further details of what they plan to do with the last capital raising. It was to pay off some dept and further acquisitions, I wonder what company/ies they had in mind.
 
ANG has been recommended as a buy at 1.78 by Bell Potters and Inter Suisse.
Does any one know if there is an upward trend of this share? It is ex dividend now and annual performance shows good. However it is also a very small capital base and with little hick up could go any where.

Any feedback from the chartists?

Regards

Miner
 
Miner said:
ANG has been recommended as a buy at 1.78 by Bell Potters and Inter Suisse.
Does any one know if there is an upward trend of this share? It is ex dividend now and annual performance shows good. However it is also a very small capital base and with little hick up could go any where.

Any feedback from the chartists?

Regards

Miner
Click to expand...

Hm not too bad

Earnings and Dividends Forecast (cents per share)
2007 2008 2009 2010
EPS 11.7 16.9 20.1 24.5
DPS 4.0 5.5 7.0 8.5

thx

MS
 
Breaking to the hi side strongly on the day and week charts. great presentation today . 4.5 mill profit 07 saying 6 mill profit 1st qtr 08. engineer to the mining industry well worth a look .... solid substance.
 
up again today 4.5% when most of my portfolio is coping a pounding alltogether up 60% on ang since August:p:
 
justjohn said:
up again today 4.5% when most of my portfolio is coping a pounding alltogether up 60% on ang since August:p:
Click to expand...

Hm has goen crazy of late

Earnings and Dividends Forecast (cents per share)
2007 2008 2009 2010
EPS 11.7 18.6 21.2 27.2
DPS 4.0 5.8 7.0 8.5

thx

MS
 
TRADING HALT...

Is this likely to be good or bad? Based on the evidence of the last 4 days of trading, it has had a continual increase.

Will the halt equate to good news or a speeding ticket?
 
Halt notice appears to be at the request of the company. Would that mean its more likely to be good news rather than a speeding ticket? *fingers crossed*
 
doofuss said:
Halt notice appears to be at the request of the company. Would that mean its more likely to be good news rather than a speeding ticket? *fingers crossed*
Click to expand...

Very unlikely its a speeding ticket, as reason for the rise thus far is due to upgraded EPS guidance?

In April we advised the market we were expecting Earnings Before Interest and Tax in financial 2008 in excess of $10 million. Based on trading to date, our forecast is for EBIT in excess of $6 million for the first half ending December 31, 2007 while, with a record number of orders on hand, we are also looking forward to a strong second half.
Click to expand...

thx

MS
 
ANG has ran hard all week ,hopefully people in the know getting set before the good news is out:p:.I have'nt a good record with trading halts ,I'm due for a change of luck:D
 

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