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Gamesinvestor1 11 Oct 2019

1100 breached John, Not sure there is much uncertainty, all the stuff in the press about the EU jockeying with Johnson is just pre-planned gamesmanship isn’t it? - they both already know the outcome, it’ll be a fudged backstop, Boris will sign the WA and the UK will be mothballed inside the EU under a new treaty. Sterling will strengthen some more and this will have a stretch effect on ABC I suspect as it reports in sterling for largely foreign earnings. I doubt the status quo will last forever though as Johnson will lose the next election and the Tory Party could be out of power for decades – the alternative seems like, well I have no idea how it would be like. The P/E is still up at 36 and the earnings is expected to fall by 5% by Jun2020. Where is the growth coming from? Having said all that Milner bought £5M worth at the end of Sept. Games

john_jacobs6 11 Oct 2019

1100 breached I hope this just Brexit uncertainty. The company fundamentals are good. I’m sitting tight and hoping for better days

Gamesinvestor1 09 Oct 2019

1100 breached Just breached 1100, is this a deeper downward trend? 1096 as I type. Games

Gamesinvestor1 08 Oct 2019

EX CEO & Founder Offloads £2M worth of shares 30-Sep-19 Abcam ABC Milner,Jonathan Simon 170,000 @ 11.47p £1,949,933.93 Games

In_the_dark_yet_again 11 Sep 2019

P/e -- eps LSE:ABC @Gamesinvestor1 my initial reaction was the same as your (I think), a big write down having a serious impact on the bottom line but, even if it is a true one off and adjusting the numbers back, it still comes out at a fairly heady P/E ratio that the implied growth didn’t really support. I too have also seen businesses where there seems to be ‘exceptional items’ pretty much every year which always leads me to the conclusion they are not exceptional at all, just a normal risk for the business which the management clearly don’t see. That aside there were so positive comments from ‘analysts’ (yeah, I tend to be very sceptical since so few seem to be able to count properly let alone analyse anything) who were saying the numbers were down due to heavy investment for future growth - I have no problem with this if true and there really is lots of jam further down the road. But the big positive for me is the CEO did just wade in with £50k yesterday, not option exercise, incentive plan etc but new money, clean purchase. [link] Anyway I’ve just bought back the ones I sold when it went through my 1250 stop; not 100% convinced here but going to give it one more chance. Regards, ITDYA

Gamesinvestor1 09 Sep 2019

P/e -- eps Given the Eearnings Per Share has dropped to 21.8p, that still puts the P/E on a heady 51 given the current price of 1124 OK this was due to a write down on ERP but is that an excuse enough - will there be another, then another? The company implies it can revert to an EPS figure around 30 given time – putting the P/E back at 37.3 – on a 10% growth rate it still looks pretty high. Games

Gamesinvestor1 09 Sep 2019

Profits hit by ERP Looks like they are having a problem absorbing out of control ERP costs, is this why the CFO resigned, or was pushed perhaps? 8.95% drop in the share price this morning might indicate that. [link] The key points :- Operating profit margin of 21.6% (2017/18: 29.5%), after a £12.8m non-cash impairment charge relating to historic Enterprise Resource Planning (ERP) development costs. Adjusted operating profit margin2 of 32.2% (2017/18: 34.9%) · Reported PBT declined to £56.4m (2017/18: £69.1m). Adjusted PBT grew 2.8% to £83.9m · Reported diluted EPS was 21.8p whilst adjusted diluted EPS grew 0.6% to 32.6p Cash flow increased though. Games

Gamesinvestor1 22 Jul 2019

CFO Resigns ITDYA – I guess I have just had two lucky shots at this - buying at 8XX and selling at 11XX and then re-entering at 10XX and out on 28May at 1419. It went higher but that’s OK, it’s not looking likely to retest 1400 anytime soon at a guess. Sub 1000 is worth another shot I suspect. Games – Sticking to my buy and hold strategy

In_the_dark_yet_again 22 Jul 2019

CFO Resigns LSE:ABC Today’s trading announcement is the real culprit I suspect [link] Less than 10% (just) real core growth (I tend to ignore the help/hinder of currency moves as they can be temporary - GBP has already dropped so unless it continue to fall at the same rate that ‘boost’ is a one off) is the problem. 10% growth does not support a PE of 40+ and a <1% dividend. The market spanked it earlier this year when the results weren’t up to expectations but it clawed its way back. This is the 3rd set of disappointing financials on the trot. Regards, ITDYA, holding as it’s still above my (mental) stop but getting an itchy trigger finger,

Gamesinvestor1 22 Jul 2019

CFO Resigns [link] Might be genuine, but no one expects the announcement to be anything other than amicable. With so much intended future growth, why would the CFO leave at this stage? 8.11% drop as I type. Games – rather fortuitously left the ship at 14XX

Gamesinvestor1 08 Jul 2019

Down 6.25% Any news?

Gamesinvestor1 28 May 2019

Out again That’s it, 32% gain is good enough. A P/E of 44 looks far too heavy for me right now. It’ll continue to grow, but there are a couple of things that concern me here on further delving into it and thinking it through more. The costs of the IT seem so so high - they will have spent £56M on the IT - frankly something looks amiss here and the IT department seems out of control. The last attempted acquisition was for a big big number for a company “Horizon Discovery” for £270M, Horion was loss making, so it would be along time before it contributed to Abcam’s income - Based on the older acquisition of Epitomics, they probably would do another capital raise - hence the share price would be hit. Given that 93% of the revenue at ABCAM comes from selling new antibodies it’s getting harder to grow this area so to maintain high double digit growth figures, Abcam will have to buy something. It’s a case of watch this space and wait for the announcement and the impact on the share price. The Return on Equity is falling and has been for several years now - over 40% in 2008-9 and below 20% in 2016-17 and just recovered to top 20% in 2018. Still a good number, but with a declining growth rate, that has to have connotations. Free Cash conversion rate – due to the capital spends in 2018 the free cash conversion dropped to as low as 38% - OK this could recover, but they have two more years of IT spend still to come. Something tells me we could see 1000 again … so it stays on the old watch list for now. Games

Gamesinvestor1 28 Mar 2019

Abcam -- In again OK Back in in two tranches at 1077 and 1093 Let’s see what happens – the director buy of £2M at 106e0 looked interesting. I’m sure the UK Parliament will suppress this and everything else for a good while yet in their ludicrous attempts at governance. In hindsight I feel really sorry for Guy Fawkes and his family, he was right all along. Games

In_the_dark_yet_again 06 Mar 2019

Results LSE:ABC Yes, pretty poor given the context of the SP and previous years results. That’s two disappointing sets of results on the trot now as the finals last Oct were far from spectacular. Not surprised the market spanked it. Regards, ITDYA, currently sitting tight but it’s not far above my stop (it’s always been a generous stop as this puppy can always be volatile)

Gamesinvestor1 04 Mar 2019

Results [link] Games

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