Centurion Electronics CUC. Traded on the Aim Market.
Drat, Shares mag got in before me and had this one as one of their plays of the week and I feel they are justified in their tip.

Heres a recent article I have lifted from another site and it sums up the company and its prospects.


Nice one, Centurion
By Neil Thapar

- Is Steven Cunningham of Aim-quoted Centurion Electronics set to become the next Alan Sugar of consumer electronics?


The short answer is that it is far too early to tell. But Cunningham's Centurion is potentially as well placed in a rapidly growing segment of the electronics market as Amstrad was during the 1980s personal computer boom. If Cunningham comes anywhere near to replicating Amstrad's success, investors can look forward to outsize gains in the years ahead.

Few have heard of either Centurion or its founder and 41% shareholder. However, there are parallels between the two entrepreneurs. Aged 37, Cunningham went to school in Enfield - not far from Sir Alan's stamping ground in the East End. Both essentially found their calling in sales and marketing. Cunningham started out as a photocopier salesman in the City while Sugar cut his teeth selling car aerials in the market stalls of Petticoat Lane.

As chairman and chief executive, Cunningham has now positioned Centurion for the emerging market for in-car entertainment systems such as flat screens, DVD players, and portable connectivity devices that enable games consoles to be used while on the move. Its products are mainly aimed at backseat passengers and should be a godsend for harassed parents on long journeys with a carload of kids.

The company, floated on the stock market last Christmas, claims pole position in the UK in-car entertainment market, ahead of brands such as Alpine, Pioneer, Sony and Philips.

Centurion designs, markets and distributes products under its own brand, subcontracting manufacture to the Far East. Its products can be factory-fitted to order, or in the aftermarket at a dealer's showroom. A separate range of portable "plug and play" systems is also available that can be connected ti a cigarette lighter socket in a car, caravan or boat.

The market for in-car entertainment and navigation systems is expected to grow rapidly over the next decade as miniaturisation, new technology and carmakers' desire to introduce new optional accessories helps to drive up demand. According to industry estimates, the aftermarket in-car entertainment systems grew eight-fold to about 235m in the past three years.

Cunningham says one of the group's key strengths is its ability to integrate small, flat screens and other devices into headrests, the car roof or other parts of the interior. It also has the know-how to develop products that are compatible with a car's electronic systems, power supply and wiring.

"Many of our rivals are focusing on developing information systems for the driver but we are concentrating on leisure and entertainment products," he says.

As a result, Centurion has signed up some big names in the car industry including BMW, Toyota and Nissan to offer its products as optional accessories. The group is also in talks with other manufacturers.

Separately, its products are also sold through retailers Argos, Currys, Dixons and Halfords. Among motor dealers it boasts Pendragon and CD Bramalls as its partners. On average, its products cost about 350, making them affordable and competitive against rival systems that can cost as much as 1,500.

Given that Centurion is reaching consumers through many different channels, growth is likely to be explosive. Moreover, this segment of the electronics industry is still at an early stage in its cycle and should underpin several boom years for Centurion.

Although Centurion, with a 14m market value, is still small, its results are already beginning to demonstrate the scale of its market opportunity. [/b]Maiden interim profits, reported in May, surged ahead 211% to 398,000 on a 95% increase in turnover to 2.8m.[/b]

It puts the company in on course to at least double taxable profits to 1.4m for the year ended 30 June 2003 but not yet reported. Taxable profits of over 3m in 2004 also look achievable according to the sole published forecast by its house broker Daniel Stewart.

For now the group also has sufficient resources to fund its growth. It had more than 1m cash in the bank at the half-year and recently also moved into new premises of 25,000 sq ft in Welwyn Garden City, Hertfordshire.

The shares have doubled since they were floated at 30p last December but canny fund managers such as Katie Potts of Herald continue to mop up the shares. Pent-up demand has led Cunningham to sell some shares in recent weeks. But the shares still look good for the long term and are likely to attract further attention as it becomes better known in the City.

The shares are valued at less than ten times expected earnings for 2003 and offer a dividend yield of 1.3%. Although small companies can trip-up if they fail to control and manage their rapid growth, Centurion's rating is low enough to justify the risk. Climb aboard.ENDS.

Looks like an excelent growth story to me.

GF.

The chart looks fantastic.






gf.

Took a small banging tuesday as they all did. Well worth getting aboard now at this cheaper price.
GF.

fantastic Trading update from centurion.
Price has gione up at last count by 8p, a quality company with quality management.

Centurion Electronics PLC
29 September 2003


Strictly embargoed until: 07:00, Monday 29 September 2003


NOW SHOWING IN CARS ACROSS EUROPE

Centurion expands retail sales channels in Europe and the UK


Centurion Electronics plc ('Centurion'), a UK market leader in the field of
in-car audio-visual entertainment, has secured important new sales channels for
its retail range of products, Plug & Play(TM).

Plug & Play(TM) consists of a selection of portable DVD and video players, TV
tuners and playstation compatible systems, incorporating TFT LCD monitors, which
are designed to plug into a vehicle's power socket.

During the last six months, Centurion has created substantial market awareness
of Plug & Play(TM) in Europe, securing orders in Germany, Ireland, Belgium, France
and Spain through agreements with seven new distributors. Going forward, the
company is focussing on targeting further distributors in these countries and
expanding its reach to include Holland and Denmark.

In the UK, and following the launch of Centurion's next generation PP60 model
earlier this year, Arnold Clark, the UK's largest privately owned motor group,
has named the Company as its preferred supplier. Arnold Clark has 120
dealerships throughout Scotland and England.

In addition, Centurion continues to increase its exposure on the UK high street.
In response to strong demand, Halfords has increased the number of its stores
from which the Plug & Play(TM) range is available from 100 to 250. Centurion has
also been reselected for Argos's autumn/ winter catalogue.

Steven Cunningham, Chairman of Centurion, commented 'These developments play an
important part in our multi-channel strategy to reach customers in as many
different retail environments as possible and build the Plug & Play brand
throughout Europe. In the UK, Arnold Clark offers significant new opportunities
in the automotive aftermarket and through Halfords and Argos we continue to
increase our visibility on the high street.

'Plug & Play was only launched in November 1999 but has gone from strength to
strength with demand growing ten fold in the last two years.'


For further information please visit www.ceplc.net
or contact:

Steven Cunningham Lindsay Mair Rosie Brown
Chairman John Prior Melissa Hubbard
Centurion Electronics Corporate Synergy Tavistock Communications
Tel: 01707 330550 Tel: 020 7626 2244 Tel: 020 7920 3150
steven@ceplc.net lmair@corporatesynergy.co.uk rbrown@tavistock.co.uk

This information is provided by RNS
The company news service from the London Stock Exchange

gf

Up 2p already and ready to motor. Dont miss out on this growth story.

gf.

Up 12.5p today and looking very strong.

gf.

A little bit of profit taking so far, but nothing to worry about.

GF.

CUC tipped by Everyinvestor - Shareweekly newsletter...


Friday, October 03, 2003


Centurion rides in-car entertainment boom across UK and into Europe


Centurion Electronics
Business Summary
Automotive audio-visual entertainment.

Market: AIM
Website: www.centurionsystems.co.uk



Recently floated on Aim, Centurion Electronics, is enjoying explosive growth on the back of soaring demand for in-car audio-visual entertainment. On one estimate the market grew 10-fold between August 2001 and July 2002, admittedly from a tiny base. As a pioneer in the market Centurion is riding this growth wave and is already making inroads into continental Europe where the market is estimated to be two years behind the UK, i.e, virtually non-existent.


Market Data
EPIC Company Share Price Market Cap m PER Dividend Yield% 12-Month hi-lo Company Report
CUC Centurion Electronics 113 26 n/a n/a 30-113 --



A hint of the potential can be seen from looking at the experience of the US market which, as so often, is two years ahead of the UK. The US market for in-car audio-visual entertainment products is already worth over $250m and growing fast. Another pointer comes from the development of entertainment products for the house. In the 1930s and 1940s every house had a radio; in the 1950s TVs gradually began to penetrate. Now there are houses with a TV in virtually every room. The possibility is that a similar revolution will happen with mobile video- as the product category is known- but much more quickly.


Comparisons with the explosive early growth of Alan Sugars Amstrad
Among the few observers who have looked at Centurion, still a tiny company valued at just over 26m, comparisons have been made with the early growth of Amstrad. Under its abrasive boss, Alan Sugar, Amstrad pioneered cheap consumer electronic products ranging from hi-fi to personal computers. Many people had an Amstrad as their first computer and the company enjoyed years of dramatic growth making Sugar a multi-millionaire. There is an echo of this process in Centurions ability to design value-for-money screens and accessories for the car market with products sourced from low-cost factories in Taiwan and China.

The change in attitudes to the products is amazing. Two or three years ago I was at the motor show looking at a Range Rover being offered for an astounding 80,000 partly on the strength of flat screens mounted in the seats. The 36-year-old chairman and chief executive of Centurion, Steven Cunningham, says that when he first began talking to retailers about selling DVD players and monitors to go in mass-market cars the reaction was Right, and where do we put the jacuzzi!


DVD player and easily fitted monitor ready to go in five minutes for just 300
But with Centurion able to supply a DVD player and easily fitted monitor which the buyer can plug in to the car cigarette lighter and play five minutes after buying it, all for around 300, nobody is talking about jacuzzis any more.

Centurion has two principal ranges of products. The dominant range presently is branded as Plug and Play and sold through outlets such as Dixons, Argos, Halfords and motor distributors like Pendragon and CD Bramall. These products are based on small screens fitted to the headrests of the front passenger seats and aimed at the after-market. The other range is more expensive with bigger screens and requires professional installation. Car manufacturers like Toyota, Fiat, Lexus, Nissan and BMW on its hugely popular new minis are fitting these products as original equipment.

At the moment the sales split is roughly 70: 30 in favour of after-market products. But with new car manufacturers being signed up all the time, Cunningham expects the split to shift rapidly in favour of original equipment products. There are many other areas where the products can be used including bus stops, caravans, trains, buses and bus stations. Cunningham says the group is also developing products for sale into the home.

Professional products are more expensive. A system for the Nissan Micra costs 699. For the Toyota Avensis, which sells 170,000 annually in Europe, a twin- screen system (screens in both headrests) plus a DVD player in the boot and games-compatible sockets for Playstations and X-Boxes will cost 1600 euros (1000).

An obvious worry is that with the market growing so explosively and set to become huge, that powerful competition will arrive. Centurion is using its growing financial muscle to spend more on research and development and claims its ability to customise its products for each individual vehicle is a major competitive advantage. The groups engineers are organised in two groups, one working on product development, the other working to customise existing products for different vehicles.


Financial Data
Fiscal Year Proj Turnover m Pretax Profit Change % EPS Change % DPS Change
%
2002 4.14 0.68 NA n/a NA 0 NA
2003 * 10.03 1.48 117.6% 4.06 NA 0 NA
2004 * 19.97 3.45 133.1% 9.69 138.7% 0 NA

EPS - Earnings per Share
DPS - Dividend per Share


Like any spectacularly fast-growing company, Centurion, although profitable from the early days, has needed external funding. In October 2001 a venture capital group put in 500,000 followed by 2.3m when the shares were floated in December 2002. Most recently the group has raised a further 1.2m at 63p to speed expansion into continental Europe.


Growth took off after Stephen Cunningham became CEO in 1999
The companys growth rate has taken off since 1999 when Stephen Cunningham became chief executive and realised the potential of the new thin-screen liquid crystal display technology to revolutionise the in-car audio-visual entertainment market. Since then sales and profits have been growing explosively, keeping the shares on a modest forward PE ratio.

The group continues to sign new sales channels for its Plug & Play range with seven new distributors in Europe and orders won in Germany, Ireland, Belgium, France and Spain. It plans to sign up further distributors in these countries and expand its reach into Holland and Denmark. In the UK the group has just signed Arnold Clark, a large private group with 120 dealerships. Meanwhile, in response to strong demand, Halfords has increased the number of stores stocking the Plug and Play range from 100 to 250. As an investment in an exciting growth stock, addressing a market which is just taking off across Europe, Centurion looks hard to beat.

What spooked the price at midday ? fell out of bed, no apparent reason.

Jimmy Bond: More people might use your site if you didn't require quite so much personal information on registration. Until then, I'm sure you really don't mind a bit of free publicity. It acheives what you set out to do, after all!

Jimmy Bond; If you want to advertise another website please feel free to contact our advertising dept:-)

sales@moneyam.com

Feel this one will move north on Monday.

GF.

Good call GF, up 9.5% as i type, smiling again!!!!

Booming along this morning and way undervalued. If you havent got these, you should have.

GF

planttec, I know you from somewhere else but I darent say, the bouncers on here are very sensitive. Good luck and regards. - that should give you a clue.

Nicely up today and we should have reports on this weeks Shares mag and Investors Chronicle. Well worth getting into before the updates.

GF.

GF
My roof needs fixing, know anyone good in that dept, a tiler for instance !!
:)

Hotest company on the market at the moment. Short term price target 149p based on both fundies and charts.

GF.

Planttec - I'll go up on your roof. Provided GF will hold the ladder.....

Anything for you are linzi.

GF.

Just been told this is another one lined up for Aim stock of the year. Anyone know results?????.

gf.

Dropped a few pence this morning and this represents a great bBuying opportunity, Ive added this morning. 200p by Jan next year.

gf.

A good day for this company but blimey are these shares volatile. Only one I can think of is worse is Psion. Own them and you never sleep, was I glad to get shut.

Not joking now but was on the computer a few months back owning Psion and they had risen 5p, i thought oh brilliant, anyway went for a quick slash,2 mins at most, and banged up the real time portfolio when I got back and the buggers had gone down 2.5p. Couldnt beleive it, but its true. Never buy those again. GF.

Does anyone know when results are due as they are likely to be very good. Help appreciated.

cheers gf.

Charles Stanley @ Co Ltd, placed a Buy note on these yesterday although the price has drifted down I feel due to instituion sells.

Worth sticking in there, has a very high Beta and when the pick up comes will certainly move northwards.

cheers GF.

Top bombing this afternoon on the back of a shareholder buying and the Buy note above.

cheers GF.

Another very good day for this one. Anyone know when results are, cant get into hemscott where I normally get them.

cheers GF.

GF

According to Hemscott

Next Prelim announcement 14 November 2003
Next Annual report due 21 November 2003

SH

Cheers Sharehappy, looking forward to these, should be corkers after the new deals signed in the last 6 months.

cheers GF.

Wow, up just under 12% as someone tipped them??????, looks very much like it from the number of trades gone through already.

gf.

Could be about to go north, level 2 is looking promising.

GF.

Results I think due Friday????. Can anyone confirm.

cheers gf.

Reorort results on the 10th, next wednesday, and we may get a good run up to them, but beware they are very volatile. Hoping for good ones and perhaps a new contract thrown in.
cheers Gf.

Any thoughts on the potential of CUC on the back of good results?

I've seen these fall 10% in half an hour before only to finish the day 5% up! I expect some MM games so sold half of mine a few weeks back at 127p They've held out well, so to be honest I haven't a clue what will happen from here. Good results will gain good press, so I'll add on either a dip or v.good results. Be careful, however, becuase expectations are quite high and this years results may be more about next years potential than the current year ending. It will be volatile, I believe, on results day!

Hmm, Centurion is highly risky in my books and its products ain't as hot as they are being made out. Its a difficult market and one that is dominated with bigger players with bigger pockets if they make any waves then they will face the wrath of bigger companies. I would parallel them to a small fishing vessel attempting to defeat ten battle crusiers. They may be small and nimble but then the firepower of weighty competition turns on them, they will sink without a trace.

Just my opinion of course!!

Or possibly get bought out!

If you are contracting to far eastern factories just about anybody can do that so there is no need to buy that sort of company. Just send some body over to Asia. Like err, Alba for example!! Who turnover hundreds of millions.

There is a lot of hyperbole and PR surrounding this stock, it's great when its shooting up and stock is short and if you can make money that way, that's great but there is nothing special or new here. Just be aware of that.

Well I for one beleive in the management of this company. Show me a good management and I will show you a good workforce and a good company. The company have signed some high profile contracts of late, and I expect more to be announced.

Results wednesday fingers crossed they will do the talking for this one.

cheers GF.

I would interested to know what terms they have signed with retailers and what rotation rights and stocking comitments they have made.

BTW Goldfinger I think finding good management is not the problem if even if you have a good management I can't see that they can turn around a business with back economics.

With Centurion they have no brand or loyalty from suppliers or stockists the marketplace is dominated by low cost producers and therefore what ever they do they will have to sink to the lowest common denominator.

With people like Alba and Medion muscling in on their territory they have one hell of a battle ahead of them.

I could take a plane out to Asia tomorrow and sign up similar products and sell them to retailers so I don't see what Centurions USP is.

Some valid points scripophilist, the results should make interesting reading, hopefully we'll get some more details on the contracts they have signed and some more idea about their unique selling points!...

BTW all, I'm not de-ramping this share or anything I just know this industry on both side very well. I have been following centurion with interest. I don't own any but will keep an active eye on them.

Some good points put there scripophilist. Lets wait for the results and look at the net margins and see if they are under attack.

cheers GF.

Results look good.....anybody else watching?

Results Excelent and no errosion of margins which is pleasing Vasey.

A fantastic set of results as outlined below by the CEO. Maiden dividend to be paid of 0.8p per share and a 60% increase in earnings per share from 2.8p to 4.45p.
The outlook is also excelent and Centurion are looking to take on the number 1 position in Europe for 'in car entertainment'.

The price has been up 3.5p to down now 7p which was to be expected for this volatile share. Ive taken advantage and added.

Centurion Electronics PLC
10 December 2003

Embargoed until: 07:00, Wednesday 10 December 2003

MAIDEN PRELIMINARY RESULTS

SIGNIFICANT GROWTH CONTINUES

Centurion Electronics plc ('Centurion' or the 'Company'), the UK market leader
in the field of in-car audio-visual entertainment, is pleased to announce its
preliminary results for the year ended 30 September 2003.

Financial highlights for the year ended 30 September 2003

• 171% increase in profit on ordinary activities before taxation to
1.18 million (2002: 435,000)

• 50% increase in turnover to 6.25 million (2002: 4.14 million)

• 59% increase in basic earnings per share to 4.45p (2002: 2.80p)

• 102% increase in diluted earnings per share to 4.27p (2002: 2.11p)


Operational highlights for the year ended 30 September 2003

• Successful in securing new research and supply agreements with
leading motor manufacturers including Nissan and Kia

• Signed first major pan-European contract with Toyota Europe

• Since launch in June 2003, new generation Plug & PlayTM has
become the biggest selling in-car multimedia product in the UK. Distribution
agreements now in place in Europe

• Ongoing development of new products and post year end launch of
Plug & Play BlueTM and ViewTechTM, focused on usability and affordability


Steven Cunningham, Chairman of Centurion, commented 'The year to 30 September
2003 has been a time of major development, expansion, and innovation at
Centurion. We have consolidated our position as the UK's leading supplier of
in-car audio-visual entertainment systems, our professional range, CenturionTM,
has been extremely well received by some of the major names in the motor
manufacturing industry and we have signed our first major pan-European contract
with Toyota Europe. We have also made significant progress with our retail
offering and, in particular, our launch of Plug & Play BlueTM will potentially
give us access to a whole new customer base.'

For further information please visit: www.ceplc.net
or contact:

Steven Cunningham, Rosie Brown
Chairman Melissa Hubbard
Centurion Electronics Tavistock Communications
Tel: 01707 330550, Tel: 020 7920 3150
steven@ceplc.net rbrown@tavistock.co.uk
High resolution images are available for the media to view and download free of
charge from www.vismedia.co.uk


cheers GF.

Word is this one was tipped Thursday evening by Hemscott. Get ready for a mark up over the next week or so. I did say after the results that I thought there would be upgrades.

cheers GF.

GF,

You are correct, the Hemscott Analyst has tipped it.

Will post detail when I get home this evening.

HKF

Cheers hkfooey that would be much appreciated. Up 7p as I speak, hope you got some aimtrader. The big push starts from this AM.

cheers GF.

Up 8.5p on the day, good stuff. Hope you bought a few. Trading is going fantasticly well in the first two months of the new financial period.

Watch out for even further upgrades.

chers Gf.

looks good. i found on iii

11th December, 2003
>
>Centurion Electronics (CUC) - buy at 126.5p
>
>
>We make no apologies for putting what is by most standards a high-risk
>punt in front of Analyst readers today. Centurion is still in its
>fledgling phase, having floated on the Alternative Investment Market a
>year ago. The shares have had a good run since then, but we believe they
>have further to go, based on the increasing credibility of the company's
>in-car video products. These shares are not being given away, but if
>current projections are borne out, the price will more than justify the
>rating. Buy.
>
>Bull features:
>
>* increasingly established, profitable track record;
>
>* string of deals with blue-chip customers;
>
>* fast-growing niche in robust UK car market;
>
>* reasonable barriers to entry.
>
>* strong balance sheet
>
>Bear points:
>
>* rating is full after strong run;
>
>* potential competitors are much larger and better established;
>
>* still suffering massive cash outflows.
>
>Analysis by Magnus Grimond and Bill Adlard
>
>Key Statistics
>
>EPIC: CUC
>Mkt. Cap: 29.2m
>
>PER: 20
>EPS growth: 48%
>Prospective yield: 0.9%
>
>Rel. Strength:
>1m: +4.5%
>6m: +166%
>1y: +205%
>
>Next Results:
>interims in May
> _____
>
>Centurion Electronics is not a typical Analyst tip. For that reason, it
>will not appeal to everyone. However, for those who fancy a punt with
>money they are prepared to lose, this AIM-listed supplier of video
>players for cars looks quite exciting.
>
>The company was launched in 1993 originally as a supplier of electronic
>car security products. By 1999, it had become apparent there was a big
>opportunity in supplying DVD players operating on flat screens for use
>in cars - the sort of thing Tony Blair uses to keep the children happy
>in the back of his people mover. In May, the company launched its
>"Professional" range of Centurion-branded products fitted in the factory
>or the dealer's showroom. Six months later came the "Plug & Play" range,
>a retail version of the player which sells for between 250 and 350 and
>plugs straight into the cigarette lighter and is ready for use.
>
>The products includes 5-inch to 15-inch flat screens mounted either from
>the roof or in the back of the front headrests (for the "Professional"
>range) or free-standing screens which sit between the front seats. They
>also include DVD and video players and television tuners, all compatible
>with cordless headphones, remote controls and games consoles.
>
>The degree with which the equipment has been accepted by the market can
>be seen in the company's range of customers. These now include car
>manufacturers like Nissan, Toyota, Fiat and Alfa Romeo; retailers such
>as Halfords, Argos, Dixons, Costco and Makro; and dealers like CD
>Bramall, Pendragon, Arnold Clark and Hartwell. According to Centurion,
>Plug & Play is available from more than 400 car dealerships, while the
>"second generation" version, launched in January, has become the
>biggest-selling in-car multimedia product in the UK.
>
>Up until now, the retail side has really carried the rest of the
>business. The chairman and chief executive, Steven Cunningham, says the
>split of turnover was 70:30 in favour of retail in the last year to
>September. That equates to sales of around 4.4m - around 20,000 units -
>out of the group total of 6.25m reported in yesterday's maiden
>preliminary figures.
>
>However, that belies the value of the Professional business, where the
>unit value is much higher - the latest ViewTech model sells for 399 -
>and the margin is around five percentage points fatter. These so-called
>OEM (or original equipment manufacture) deals require from 12 to 24
>months of design and development before they begin to generate sales.
>However, they are starting to kick in.
>
>The system is now available on the Nissan Micra, Toyota's up-market
>Lexus RX300, the Kia multi-purpose vehicle range and the Toyota Avensis.
>As examples of what is possible, the company points to the 300 units
>sold with the Kia since August, and the numbers are rising by the month.
>There may be even more potential from the Toyota Avensis, of which
>167,000 are sold in Europe every year. The company is expecting to gain
>4% of those, suggesting a figure of close to 7,000 a year.
>
>Real sales now coming through
>The benefits of the Toyota deal started to come through in the final
>quarter, with around 2,000 units being shipped. That helped Centurion
>announce more than doubled pre-tax profits for last year. The reported
>figure jumped from 435,000 to 1.18m, although 160,000 related to an
>insurance claim from the theft of stock. Sales advanced 51%, while
>diluted earnings per share more than doubled to 4.27p.
>
>Cunningham admits that the dollar has been kind to the company. The
>depreciation of the US currency by around a fifth, while the pound has
>weakened against the euro, could hardly have been better for Centurion.
>Some 90% of its purchases, mostly in the Far East, are in dollars, while
>it sells in pounds and euros.
>
>However, there is no reason to think that the dollar's slide will not
>continue, while sales are going like a train. Orders taken in October
>and November, the first two months of the new financial year, stood at
>3.5m, of which about 2m related to the Toyota deal. If all that work
>comes through this year, it would represent more than a quarter of house
>broker Charles Stanley's projected sales for the whole group of 12.9m.
>
>That gives Centurion a pretty fair wind in what is still only the early
>stages of the current financial year. Cunningham says they are looking
>at a couple more OEM contracts in Europe which he expects to announce
>before the date of the interim results in May.
>
>Working capital worry
>There are, however, a couple of caveats to this rosy picture. Perhaps
>the most important is the surge in working capital evident at the year
>end in September. Stock and debtors jumped to 4.54m from 1.81m the
>September before, with each individual figure equivalent to over four
>months' sales. Add in capital expenditure of around 448,000, and it is
>little wonder that Centurion suffered a cash outflow before financing of
>1.74m during the year.
>
>Had the company not raised 2.3m at the float and a further 1.2m in
>August in a placing at 63p, it would have been deep in the red. As it
>is, the 3.5m of funds raised were reduced to a net figure of 768,000
>by the year end. Finance director Amanda Thorneycroft justified the
>large amount of money tied up in working capital by referring to the
>Toyota deal. She said they typically hold stocks to cover the following
>three- to four-months sales, while for monitors the lead time was more
>like six months. Add in the fact that inventories were building up in
>September to supply the Japanese contract, at a time when sales were
>picking up, and it is not hard to see why the company had to tie up so
>much of it funds.
>
>In any case, working capital ratios can be misleading in a fast-growing
>company, when the historic reported sales figures may be a long way
>behind the current level for which stocks are being accumulated. In
>addition, Centurion factors most of its debtor payments, a type of
>short-term finance where the bank takes the risk, which provides virtual
>certainty that they will ultimately convert into cash.
>
>Nonetheless, the company says it will aim to generate more cash in
>future and certainly "would hope" not to need to raise more cash from
>shareholders. Cunningham points out that, although development spending
>remains high, Centurion still has at its disposal 6m of undrawn
>borrowing facilities which should be more than enough to tide the
>company over.
>
>The more generalised risk for Centurion comes from competitors, who are
>likely to be deep-pocketed. Cunningham sees less threat from the giant
>Japanese electronics groups, which he thinks are more focused on
>developing and selling screens aimed at assisting the driver to navigate
>than for entertainment. More likely rivals include the consumer
>electronics group Alba, or the big US car parts groups Delphi and
>Visteon. Even so, he believes Centurion has around a two-year head start
>on these companies.
>
>Charles Stanley is looking for underlying pre-tax profits to double
>again to 2.1m this year, with underlying earnings per share rising by
>around three-quarters to 6.3p. That would still put the shares at 126.5p
>on a hefty forward price-earnings ratio of 20, where the yield would be
>a slim 0.9%. We freely admit that this is a full rating for a share
>which floated at just 30p only a year ago. Centurion is not something to
>put money into that you can't afford to lose, but as a punt it looks
>very interesting. (And remember, an investment in the company is likely
>to benefit from the very favourable tax treatment of shares traded on
>AIM.) Long-term buy.
>
>

Wow just look at this one fly.

cheers GF.

Another good day for this one . Next hurdle is getting over 150p.

cheers GF.

Backed by one Broker as one of its tips for 2004.......

Sky Capital's UK head of research, Kevin Fogarty, lists 11 stocks for 2004; they are Royal Bank of Scotland, Vodafone, WPP Group, easyJet, AstraZeneca, Cambridge Antibody, BOC Group, Persimmon, Centurion Electronics, Invox and Connaught.

cheers GF.

Well we are through the 150p hurdle. Where next?. Some say 200p very quickly, but its a volatile little devil, so Ill take what we can get as long as its north.

cheers GF.

Looking forward to an excelent year from this little gem.

cheers GF.

There is no doubt that golddust is valuable but when it gets in your eyes it obscures your vision.

Forgot to mention that in the last presented results the company informed that it was well ahead of budget in the first two months of the new period.

cheers GF.

Very strong looking TA.



Has risen 336% since the bottom on 2 Dec 2002 at 35.00. Is within a rising trend. Continued positive development within the trend channel is indicated. The stock has support at p 125.


Period Vol.bal. Volatility Liquidity +/- %
1 day - 1.61% 8.42 +0.66%
5 days 84.19 5.91% 10.95 +7.77%
22 days -21.73 18.84% 17.56 +18.68%
66 days 10.10 58.79% 18.76 +56.41%

cheers GF.

This one gone on a roll now just moved up 3p.

cheers GF.

GF

When are the reporting periods?

Scrip, they last reported on the 10th December so I would take it 6 months on from there for next reports. I know your not a fan and theres always two sides to a coin. But if I remember rightly you said their margins would be under attack before the last set of results. In fact the margins increased. Ok I accept the likes of Alba will be competing in this market but like analysts have pointed out Centurion have a 2 year start.

Anyway always prepared to listen to reasoned debate.

cheers GF

5P DROP MID AFTERNOON - MAYBE A GOOD CHANCE TO TOP UP YOUR HOLDINGS FOLKS

Yup already have done as this one always breaks back the following trading day.

cheers GF.

GF,

RSI and momentum look a tad negative.

Interesting chart though!

Wouldnt worry about this one Andy. Last results speak for themselves. Not only that but the first two months of the new period are well ahead of budget.

Piled in Friday and bought myself a load at a cheaper price.

cheers GF.

ps, do you want a copy of the cardpoint brokers note ?????. Sending them out Sunday.

Heres one for you.

Saturday Paper Round: other news
Published: 12:19 Sat 10 Jan 2004
By Richard Lander, Editorial Director
Email to a friend

Wall Street closes lower after disappointing US employment news; the Dow ended 133 points lower while the Nasdaq closed 13 down.

* A deal to jail Andrew and Lea Fastow, Enron’s former chief financial officer and his wife, over the group’s collapse, fell apart yesterday
* Broker tips in the papers:
Cardpoint - Evolution says buy; Auto Indemnity and Next – Teather & Greenwood says buy; Topps Tiles – Panmure says buy; MFI Furniture – Arbuthnot says buy; RM Group – Altium Capital says buy; Homestyle – Arbuthnot says sell; Computacenter – ING says sell; Alliance & Leicester – Citigroup Smith Barney says sell
* British Airways plans a cost-cutting route to recovery, says Merrill Lynch
* Edward Miliband is returning to the Treasury as chair of The Council of Economic Advisers, after a stint at Harvard Investigators raided Bank of America’s offices in Milan as the probe into the Parmalat scandal widened
* The full content of Lord Penrose’s report into the Equitable Life disaster must be made available to the Treasury Select Committee, insists Shadow Financial Secretary Andrew Tyrie
* UK independent financial advisers face a sharp rise in firms about sales of precipice bonds which is likely to push up compensation bills and put some firm out of business.

cheers GF.

Centurion came back with a bang today and through the 150 resistance level.

Cheers GF.

This one a volatile devil. Up one day down the next. Friday should be an up day.

cheers GF.

And friday is an up day. Was up 4p last look.

cheers GF.

Needs to stay above 150p on two cosecutive days to start the next upleg.

cheers gf.

Bounced back with a 3p rise today.

cheers GF.

STATEMENT ISSUED BY COMPANY TODAY

The Board of Centurion announces with regret that Chairman and Chief Executive
Steven Cunningham was killed in a road accident on Friday 23 January.

The Board has met over the weekend and will meet again later today to confirm
the appointment of an interim Chairman.

A further statement will be issued following that meeting.

Think this one will have a bounce after the tradgedy of yesterday losing a brilliant young man in a car accident.

regards goldfinger.

Looks like the rebound as already started.


Centurion Electronics PLC
27 January 2004

Embargoed until: Tuesday, 27 January 2004


Centurion Electronics plc ('Centurion' or the 'Company')

Re Directorate


Following the announcement made yesterday regarding the tragic death of the
Chairman and Chief Executive, Steven Cunningham, the Board announces the
following board changes with immediate effect.

Brian Hendon, who was non-executive director now becomes interim Company
Chairman. Mr Hendon, a chartered accountant, has extensive corporate experience
of trading with UK retailers and within the fast moving goods sector.

Amanda Thorneycroft, who joined Centurion in January 2002, will continue as
Finance Director and assume the role of Managing Director.

The Board also announces the appointment of Mr John Bell as Operations Director.
Mr Bell joined the Company in April 2003 from one of the UK's leading automotive
accessory retailers where he was Director of Business Development. Prior to
this, he had headed up the in-car entertainment division of that company. Since
joining Centurion, Mr Bell has directed operations with overall responsibility
for purchasing and logistics.

Under the guidance of Steven Cunningham, the Board had strengthened
significantly its executive management team in recent months in particular, in
the areas of operations, marketing and sales. The Board believes that the
Company is well-positioned to continue to build on the success of its products
with both major motor manufacturers and retail customers.

There are no details required to be disclosed pursuant to schedule two,
paragraph (f) (i) to (viii) of the AIM Rules.


Enquiries:

Amanda Thorneycroft
Centurion Electronics plc
01707 330550

Russell Cook
Charles Stanley & Co. Limited
020 7739 8200

cheers GF.

CROC

Do you think the new lot have the flair of the late Mr C - I wonder? What will happen to the 41% of company he owned. Won't this hit the price when it goes up for sale?

Have you thought we might get a take over deal?????, watch it really go if that happens.

From Hemscott Analyst,...........

Centurion Electronics (CUC) death of the chairman - Hold at 130.5p

By Magnus Grimond.

Investors in Centurion Electronics were hit with a bolt from the blue today when it was announced that chairman and chief executive Steven Cunningham had been killed in a road accident on Friday, 23rd January. Naturally, this tragic event has thrown the board into a state of some confusion and we are still awaiting news of who will step into Cunningham's shoes. The shares have tumbled 19p to 130.5p so far today. That may be a premature reaction until we know more about the future direction of the company, although Cunningham was clearly a large part of it. We suggest the shares should be held until more news is forthcoming.


That Steven Cunningham played a key role at Centurion goes without saying. He picked up the former car security company and saw the greater potential from in-car DVD players, using them to push the growth that the company has enjoyed for the past few years. He will be sorely missed at a business not deep in management talent. The remaining three board members may struggle to fill his shoes.

Almost as crucial in the weeks ahead will be the 46% holding controlled by Cunningham and interests connected to him. The fate of that stake will play a major part in deciding the future of the company.

The board is currently deep in discussion over who might take the helm on a temporary basis until that future is determined. We suspect that finding another entrepreneur like Cunningham will be hard in the short term. We stress that we are as much in the dark about the future as everyone else, but one clear option for the board is now to seek a buyer for the whole business.

The shares are currently trading on a forward price-earnings multiple of 21, assuming current forecasts are met. That is high, but Centurion is building itself an increasingly-credible franchise in the in-car entertainment market. It has many deep-pocketed rivals for whom its acquisition would be mere petty cash. Given the presence of such a large stake in one place, stitching up a deal would be relatively straightforward, assuming agreement could be reached quickly.

Nervous investors should probably sell the shares now, but we believe that, on balance, the best stance at the moment for shareholders is to sit tight and await developments.


cheers GF.

The problem with small companies is that they are overreliant on the senior staff. In the early stages companies are very much driven by these types of personalities and rely upon the relationships that are in place to hold the ship steady. Without the lead figure it will be difficult to keep momentum going. As for a buy out, that's a bit of a dream you will have to pay a lot of goodwill for something that is quite immature. Most of the value is in the future and with the management gone that reduceds value. I would never consider buying a company without it's key management that has to be part of the deal.

Supplier and reseller relationships can be bought and most incumbants will have those in place already. So why pay money to get that??

I was waiting for a comment from you, shame on you, shame, yes shame.

Everyone has their own way of selecting shares. Some home in on fundamentals, others TA and some believe in moon cycles. I put a great deal of store by the management and I like to meet them where possible. Hence I shall be attending the CUC AGM tomorrow and will therefore not be reliant on the financial press for their take on what was/wasn't said and I can talk to all the directors face-to-face after the formal business. (I've found this to be well worthwhile in the past!)

The AGM will be tougher than I realised. Obviously the Agenda was prepared and sent out before the reorganisation, so the re-election of Steven Cunningham as a director is still part of the formal business.

Vasey - would you mind posting with your take on the AGM when you get back? I for one would very much appreciate that

I will have my PDA with me....so might file a quick resume 'live'!

goldfinger, Why shame? If you read my post I was purely commenting on the impact I felt the unfortunate death of Cunningham would have, what's shameful about that?

I've actually wrote to Centurion expressing my sadness and suggestng likely candidates for his replacement.

Don't label me the black sheep because your stance on this stock has been undermined. I wish Centurion the best of luck but think Cunningham will be a hard act to follow.

Nice one Sc, but I have read your pre posts. Your not kidding me in any way. GF.

Will be interested to hear what news comes out of there today.

Centurion Electronics PLC
10 February 2004


For immediate release: 10 February 2004


Centurion Electronics plc
('Centurion' or the 'Company')
AGM Statement and Trading Update

At the Annual General Meeting held in Welwyn Garden City at 10 a.m. today,
Chairman Brian Hendon commented:

'It was with very great sadness that we heard of the death of Steven Cunningham
in a car crash at the end of January. Steven was the Chairman and Chief
Executive of Centurion and it has been through his leadership that Centurion has
grown into the UK's leading designer and supplier of in-car audio-visual
entertainment systems. I would like to take this opportunity to extend, on
behalf of the Shareholders, our sincerest sympathy to Steven's widow and family.

'Following this tragedy, and as announced on 27 January, I have taken over as
interim Chairman and Amanda Thorneycroft, Finance Director, has become Managing
Director. In addition, the Board is currently seeking to appoint a non-executive
Director with experience in the motor manufacturing sector.

'Together with the other members of the Board, we are confident of taking
Centurion forward, particularly with the strong support we have received from
all areas of the staff here at the Company.

'During 2003 the Company had already undergone a period of major development
which included an associated strengthening of the management team. In
particular, the Board announced that John Bell joined the Board as Operations
Director on 27 January 2004 with overall responsibility for purchasing and
logistics, having originally been appointed as Head of Operations in April 2003.
Previously, John was with one of the UK's leading automotive accessory retailers
where he was Director of Business Development and had headed up the in-car
entertainment division of that company.

'Centurion's OEM business model is now firmly established. The Company's success
in expanding its existing relationships with motor manufacturers, as well as
developing relationships with new manufacturers, has continued into the new
financial year.

'On the retail side of the business, indications are that several of the
Company's retail customers had a quieter than expected Christmas trading period
which has impacted on re-order levels in January. Sales of Plug & Play Blue,
however, which was launched before Christmas, exceeded expectations. Sales
overall remain in line with management forecasts.

'The results for the six months to 31 March 2004 are expected to be in line with
market expectations and with the support and commitment of the whole team, we
believe we are well-positioned to continue to build on Centurion's success.'

All resolutions proposed at the Annual General Meeting were duly passed.


For further information please visit
www.ceplc.net
or contact:

Brian Hendon Russell Cook Rosie Brown/ Melissa Richards
Centurion Electronics Charles Stanley & Co.Ltd Tavistock Communications
Tel: 01707 330550 Tel: 020 7739 8200 Tel: 020 7920 3150


This information is provided by RNS
The company news service from the London Stock Exchange


Share price down 8% so not received well - statement didn't seem too bad to me, what do folks think?

I am going to stick with them.I know there loss is extremly high but the company and product are still the same.Often in these cases the staff will work harder and better to prove a point.I think they deserve the backing of there shareholders and I will carry on with my little holding doing what I can. Graeme.

I think the statement sums up my thoughts much further up the thread.

Looking at the current market cap now and the historic earnings they are not on a hugely demanding PE ratio if the growth story is intact.

I may post this in several chunks, out of respect for those who don't have Broadband!

I arrived at the company's offices just after 9.30. Enough time to peruse the 'toys' in reception and read the Lever Arch file of recent press coverage on the product. Very impressive. Reception staff were delightful and expected me! A big screen in reception trumpeted the fact that today was the AGM. Well done to all concerned. Everything was spotless and fresh flowers around.

A name badge appeared seconds later...but so did some person who had clearly found the coffee machine that I couldn't see. A quick quiz later elicited the information that it was another poster from this thread.....so you should end up with the opinions of two people as the week progresses. Turns out he had already been invited beyond the security coded door and grabbed a coffee from the Hospitality Suite!

At 9.50 those assembled in reception were invited upstairs to register, have a coffee and take our seats in the 'Boardroom'. A normal meeting room with a sign 'Boardroom' for the day!

The Meeting started promptly and was efficiently and professionally executed, with both your two representatives chipping in to propose or second various items on the agenda. Everything was unanimous, so don't expect any surprises.

After the formal business, the Chairman read the statement, which was then issued as an RNS. Hence the slightly odd timing of the release. All the directors then processed into the 'coffee room and Toy Room' where shareholders could test the products/coffee/management.

Bear in mind at this point this was the first AGM this company had faced since listing. Prior to that point they only had about 30 shareholders and could just ring 'em up! What a baptism of fire and they coped remarkably well.

Amanda Thorneycroft is not only the new MD, but the Finance Director and Company Secretary as well. Luckily multi-tasking comes naturally to us girls as she eased between a local share-club representative, us two and the usual professional representatives there just to make sure everything goes OK and they are guaranteed their fees for the following year....!

Your two representatives 'worked' the room tirelessly, playing with the products and talking to ALL the directors of the company about aspects from sales, marketing, financing the sales, future prospects, personnel, communication with shareholders of our size and anything and everything we could think of.

They did a brilliant job, considering this was their first go at at a public AGM. They had clearly prepared for the questions they might face and Amanda, doing 3 jobs, never referred us to somebody else, for fear of saying the wrong thing.

She is not a fluffy girlie. This is a Finance Director with a substantial personal holding in the company and someone who can talk tough as and when required. She knows the company and is irritatingly discreet.....but we did try on your behalf. Really!

Two things to stress is that while Steven Cunningham was the 'face' of the company as far as the City was concerned, he was at most meetings with his Finance Director, Amanda Thorneycroft, so she is known to the institutions.

Secondly, the customers had very little contact with Steven, so their lives go on as usual. There has been little impact with regard to day-to-day business.

(Sorry this is a bit disjointed....have to break off and answer phones, work etc...stick with it.....I'll get there eventually!)

We quizzed the directors about cash flow and they are well on top of the finances, using factoring, Letters of Credit and astute planning to prevent unwelcome surprises. I also asked about the situation with the shares now owned by Steven Cunningham's family.

Obviously nobody can give a definitive answer on this one but it is something they are accutely aware of. Steven's estate will have to meet tax and his family will need to provide for the future, but his widow worked in the company, is fully supportive and is aware of the need to resolve this point.

vasey- your report of AGM much appreciated-thank you.

Vasey - many thanks for that posting - shares dived to -11% today and bounced back up to a mere -1.8% - interesting to see tomorrow

Very good update Vasey,
TY

Thanks for that, Vasey. Do not know this company, but will henceforth take an interest.

How many other people were present and where were they from?

Excelent post vasey. Just taken this from the growth company investor board, sorry not a subscriber............

10/02/2004
Centurion Electronics - HOLD
Centurion Electronics, the in-car audio-visual entertainment business, expects interim results to March to be in line with market expectations. At an AGM meeting, interim chairman Brian Hendon confirmed that, following the tragic death of chief executive .......

cheers GF.

Centurion marches ahead to meet targets
AFX
Interims expected to be in-line; business model 'firmly established'

Centurion Electronics PLC said results for the first six months to March 31 are expected to be in line with market expectations, adding that sales overrall also continue to match management forecasts.

Chairman Brian Hendon said Centurion's OEM business model is now firmly established.

In addition, the company's 'success in expanding its existing relationships with motor manufacturers, as well as developing relationships with new manufacturers, has continued into the new financial year'.

On the retail side of the business, indications are that several of the Company's retail customers had a quieter than expected Christmas trading period which has impacted on re-order levels in January, he said.

'Sales of Plug & Play Blue, however, which was launched before Christmas, exceeded expectations.

'Sales overall remain in line with management forecasts.'

Its shares eased 2.3% to 104p.

cheers gf.

are these shares still on a downward trend due to sad news or is it time to get in as they are up today p.s. why do I get an edit sign when I post

I asked the same question a while back on the edit sign - it appears you're the only one who can see it on in case you want to edit!!

Ouch!

For holders of this share just remember to not get too emotional about your holding and if it has breached your original reason for buying or holding don't hesitate to sell.

I'm not recommending you all dump your holdings (because I don't know why you bought) but just wanted to remind some that while taking a loss hurts sometimes it hurts less than a bigger one.

cuc has been on the up for the last 2 days .It looks as though it's making a recovery

Against the trend also, always encouraging for holders. Most other speculative stocks have been falling in the general sell off.

Text from IC:

Like rival Armour Trust, Centurion is booming, thanks to the craze for in-car DVD players, which keep kids and in-laws entertained during car journeys. But the company's spectacular 2002-03 results and this year's bumper expectations have been clouded by the sudden death in late January of founder, chairman, chief executive and 46 per cent shareholder Steven Cunningham, aged 36, in a road crash.

Up until now, some 80 per cent of Centurion's turnover has come from its 'Plug & Play' boxed kits, which have velcrose or suction-backed screens. In the 12 months to end-July 2003, the number of in-car vision units sold via retail outlets such as Halfords, Argos and over 400 car dealerships, almost doubled. Since September, Centurion has introduced a cheaper Plug & Play product and a thin roof-mounted screen. So, not surprisingly, motor manufacturers are now starting to fit DVD screens as optional extras.

By far the most significant customer to date for such products is Toyota, which signed a pan-European deal that could see in-car vision units fitted in eight new models over the next three years. The first contract for the Toyota Avensis consists of a twin-screen system (with screens in both headrests), a DVD player in the car boot and games-compatible sockets for a PlayStation.

Last April, Centurion signed a contract to supply the 2003 Nissan Micra with an in-car DVD system available via its 229 UK dealerships. Similar agreements have been signed with Mazda, Kia and Fiat. Not surprisingly, Centurion believes that original equipment sales could rise from 20 to 30 per cent this year. As a result, its share price has been climbing.

Company broker Charles Stanley reckons that turnover this year will more than double to 12.92m as profits jump to 2.08m and earnings to 6.3p. A dividend of 1.1p is also forecast.

NB shares up 9% today upon share placing at 110p, premium to yesterday's price

A positive outlook from the Chairman to accompany the placing.

Commenting on the Placing, Brian Hendon, Chairman, said:


"The Placing is a positive development for Centurion as it improves both the
liquidity of the shares and builds upon our existing institutional shareholder
base. Ongoing investment is key to our business and the funds raised will, in
particular, be used for our product development programme and continued
expansion into Europe."

Hopefully those of us who held the shares will be rewarded

Shares suspended!

http://www.companyannouncements.net/cgi-bin/articles/200511301600079339U.html

anyone heard anything about what's happening since suspention

I wouldn't hold you breath if they haven't been able to arrange financing in the last two weeks. Write it off and if they do come out of suspension it will be a bonus. If they don't you can forget about it.

hi Scrip, you doing challenge Lawro this year? (SORRY THREAD READERS)

oh well look's like no chrisy preasents this year

here are you mate, enjoy.

what a comeback??

Amazing... These were sub 1p on friday....

Down 40% today though - looks like folks are running for the hills.
I think this is one to watch and learn.....yes I know in-car is great - but falling prices, in a market with many competing outlets....doesn't look good to me.
/
Those that hold/love CUC - can you give me any info on what is their USP?... or anything which might give them ...an edge?

i lost out big time on these with my second batch of shares (nice profit the first time), they gave out 2 positive rns's then BANG out came a profit warning, hightlighted by shares mag of carefully worded financial reports/statements. Lost trust in them and wouldnt touch them with a barge pole. Thats not to say they havent straightened themselves out, but i personally will stay away.

Chance of a re run of recent events?...

DYOR

So what have we here?
Was their problem the untimely death of the man at the centre?
Or was there some other effect unwinding?
/
We're over the suspension and presumably they still have sales outlets, do they have replacement products- ones that folks are falling-over to buy?

CONTRACT WIN !!!

Shame about the number of units though! I note they didn't mention that on the RNS.