pendil
29 Jan 2016
Re: Final results Yes, looks very cheap. the price is clearly still suffering from the losses and closure of the solar division, but that looks like a contained as well as an historic issue. Otherwise it's a relatively straightforward and low risk business which should grow modestly over time and meantime provides an exceptional yield.I would rate it a strong buy, but the tool isn't working.
lew mannheim
29 Jan 2016
Final results Reassuring update. £8m of ongoing profits; £27m order book; £1.4m of cash and no debt. Commitment to at least maintaining current dividend level of 5.34p so yielding nearly 10%. On around 10p of ongoing earnings, P/E is less than 6.Had a very bumpy ride since float but at these levels must be worth a look IMHO.
lew mannheim
14 Jan 2016
Update Management confirm results to be 'in line with expectations', so no profit warning with the update at the end of the month. Looks to have found a base so after a torrid period worth a look IMHO.
MrMeerkat
16 Sep 2015
Out My stop-loss - set after the profits warning! - triggered today at 59.1. Just 6 weeks after buying at 114.6 
( Perhaps they are now a bargain, but capital protection has now become the priority. If and when management do demonstrate that they are in control and can be trusted, that will be the time to look at the investment case again.Stop-losses are a controversial measure and there is a danger of being shaken out by price volatility rather than by changes in fundamentals. OTOH, it helps take emotion out of the selling decision - once the level is set at whatever one chooses, the broker takes execution of the sale out of ones hands. Triggering a stop-loss is, by definition, a disappointing event but, I hope, better than hanging on in forlorn hope. Been there, done that, lost loads.MM
Courtier1
11 Sep 2015
Re: Management fair enough - in my view if one does not trust management one should never be invested.I see things a bit differently though I do admit I am giving the mgmt some benefit of the doubt here though.1) the EU VAT decision was pretty arbitrary and unexpected - this is one of the reasons for the ditching of the solar business2) they did not try and chase the sales team that upped and left after being poached and so did not engage in a cost inflation war that would have resulted in a lot more in losses3) they jettisoned the business when they saw it was not going to turnHowever, I still find it difficult to reconcile the half year statement that basically said we're ok to meet y.e expectations irrespective of the issues and 5 weeks later issue a profits warning. At best that feels a bit naive to me from a forecasting perspective, which is where I need to make a call. Do I think the mgmt just got it wrong as they are relatively inexperienced to public company life or is the business visibility poor or worse, mismanaged?After some deliberation my view is the former and that the continuing operating business is worth around 90p or maybe a bit more. a £30m order book and a £10m p/a deal with a national DIY store give me some comfort.
casabanker
07 Sep 2015
Management ENTU has cost me a considerable wedge. The Company looks sound when the balance sheet is considered. There is no debt and earnings still look okay. The trimmed dividend is still generous at the current sp level. However, the management's record leaves much to be desired imo. Firstly, they neglected to inform the market that H1 was going to be "soft". Secondly, the sp fell sharply due to alleged insider dealing which then led to a hurried RNS. Thirdly, the management has not cut the solar operation but completely ditched it. Drastic actions of this sort look to be panic measures. I have sold out and will not return as I do not trust the management any more. ~Casa.
Greyinvestor
04 Sep 2015
Re: First look Yes, your numbers are similar to mine. I think 7p to 7.5p EPS is about right. Assets and liabilities are very similar, so not much in the way of tangible assets, and there is always a risk with stock valuations.It's a bit worrying that the half year numbers were down, and now the second half sounds worse. It all smells of a company being sold at the top.The good news is that directors have a lot of skin in the game.My feeling is that this deserves a low multiple for now. Maybe 8*EPS ie 56p to 60p. Then it's your judgement as to whether the home improvement market will strengthen. I'm still thinking, my smaller companies have been doing less well recently.
Courtier1
02 Sep 2015
Re: First look around 7p eps this year and 10-12p next year is my expectation with 10% of market cap in cash and no debt.Strip out cash and put on a 1yr fwd pe of 8 and you reach 87-103p range but suspect that only happens when management is considered more credible around their forecasting. order book of £30m+ and a £10m deal with DIY firm suggests reasonable visibility in the remaining business once the solar business is disposed of but who knows....
Greyinvestor
01 Sep 2015
First look Had a first look at this, but I think that some market commentators have misread the release.£8m profit from continuing businesses, but maybe a loss of £3m from solar = £5m?EPS maybe 6p this year, 8p next year?I value this at no more than 60p for now.I'm thinking........
II Editor
01 Sep 2015
NEW ARTICLE: Sun sets on Entu's solar division "It's been less than a year since LSE:ENTU:Entu (UK) floated on AIM, but it's already lost 60% of its market value and the promise of fat dividends has been somewhat deflated. It's all down to the struggling solar division, which the ..."[link]
Chis Lines
01 Sep 2015
Re: So long solar will takes several years confidence went some time ago.
Chis Lines
01 Sep 2015
Re: NED Resignation Today leaky boat?
Courtier1
01 Sep 2015
Re: So long solar The key now for management is restoring credibility.The remaining operating business has a £30m+ order book and expects operating profits of £8m this year. This business is also growing well it appears.The £2m loss on Solar will push eps down by around 3p I estimate so this years eps prob of around 7p with next year moving back around 10p.My sense is this is an extreme but understandable over reaction on relatively light volume in a market that is horrid today anyway.The key now is rebuilding trust in their forecasting and management of the business. Market hates mgmt saying they will meet expectations when everyone else is sceptical and a month or so later issuing a profits warning, hence the reaction.
casabanker
01 Sep 2015
Re: So long solar Yes, me too.Casa.
MrMeerkat
01 Sep 2015
So long solar Well, today's announcement certainly explains a lot. I dare say that this is a rational move in the circumstances. But it does reveal that the investment proposition in ENTU has changed. Can't believe I was so dumb barely a month ago.MM in need of some solar input right now
