Mincon Group (MCON)

Sector:

Engineering

 74.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 101.50
  • 52 Week Low: 73.00
  • Currency: UK Pounds
  • Shares Issued: 211.68m
  • Volume: 0
  • Market Cap: £156.64m

Mincon drops amid 'fitful and flat' trading

By Duncan Ferris

Date: Tuesday 19 Mar 2019

LONDON (ShareCast) - (Sharecast News) - Mincon Group's shares dipped on Tuesday despite double-digit profit growth as the company warned that trading since the start of 2019 had been flat.
The hard rock drilling supplier achieved 2018 profit before tax of €16.3m, an increase of 29% against the previous year, as revenue jumped by 21% to €117.7m after 34% growth in Mincon products.

A 22% reduction in third party sales was mainly due to drill pipe supplies now coming from inside the AIM traded company as a result of the acquisition of Driconeq, which was completed in March 2018.

Joseph Purcell, chief executive of Mincon, said: "Trading in the new year to date has been fitful and flat. However we have significant opportunities to realise over the coming months, including the roll out in construction piling and large hammers and the commercialisation of the Greenhammer systems."

Cash and cash equivalents stood at €8.0m at the end of the year, down from €28.2m at the end of 2017, while the board recommended a final dividend of €0.0105 per share bringing the total dividend up €0.0005 from last year to €0.021.

"We plan to review the overheads that we have built up with a view to improving efficiency across the group, and we will be investing in group information technology to give easy worldwide access to and transparency of our inventory for our own team, and for our customers," said Purcell.

Mincon's shares were down 5.02% at 104.00p at 1242 GMT.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Mincon Group Market Data

Currency UK Pounds
Share Price 74.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 101.50
52 Week Low 73.00
Volume 0
Shares Issued 211.68m
Market Cap £156.64m

Mincon Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
39.38% above the market average39.38% above the market average39.38% above the market average39.38% above the market average39.38% above the market average
65.71% above the sector average65.71% above the sector average65.71% above the sector average65.71% above the sector average65.71% above the sector average
Price Trend
28.68% below the market average28.68% below the market average28.68% below the market average28.68% below the market average28.68% below the market average
12.20% above the sector average12.20% above the sector average12.20% above the sector average12.20% above the sector average12.20% above the sector average
Income
1.32% below the market average1.32% below the market average1.32% below the market average1.32% below the market average1.32% below the market average
25.00% above the sector average25.00% above the sector average25.00% above the sector average25.00% above the sector average25.00% above the sector average
Growth
6.79% below the market average6.79% below the market average6.79% below the market average6.79% below the market average6.79% below the market average
10.53% above the sector average10.53% above the sector average10.53% above the sector average10.53% above the sector average10.53% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Mincon Group Dividends

  Latest Previous
  Final Interim
Ex-Div 28-May-20 29-Aug-19
Paid 19-Jun-20 27-Sep-19
Amount 1.05¢ 1.05¢

Trades for --2020

Time Volume / Share Price
0 @ 0.000p

Mincon Group Key Personnel

CEO Joseph Purcell
Chair Hugh Mccullough
CFO Mark McNamara

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