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entu (UK) plc



Admission to AIM and First Day of Dealings 30 October 2014



entu (UK) plc, the home improvement group providing energy efficiency products and services to homeowners in the UK, is pleased to announce that admission will take place and dealings in its ordinary shares, priced at 100p, will commence at 8.00am today on AIM under the ticker ENTU.




http://www.entu.co.uk/

Trading Update

RNS


RNS Number : 6982Z

entu (UK) plc

15 December 2014






entu (UK) plc



Trading Update





entu (UK) plc (the "Group" or "entu"), the home improvement group providing energy efficiency products and services to homeowners in the UK, provides the following trading update for the year ending 31 October 2014.



The Group has seen robust trading in the year across all its divisions, as consumer demand for home improvements continued to increase. Consequently, entu expects to deliver a full-year result in line with market expectations.



The Group will announce results for the year ended 31 October 2014 in February 2015.



Ian Blackhurst, Chief Executive, commented:



"This has been an exciting year, culminating in our admission to trading on AIM on 30 October 2014, which was a recognition of the Group's development to date and is helping to increase awareness of the entu brand.



"Public awareness of the economic and environmental benefits of energy efficient home improvements continues to increase and we are well positioned in this growing market. We look forward to providing a more detailed update on the year's performance in February."

AIM's biggest dividend payers for 2015

Entu

Home improvement products installer Entu (ENTU) has been on AIM for fewer than two months so it is yet to pay a dividend. No new money was raised at the time of the flotation because the business is cash generative enough to cover capital investment and dividends. An initial dividend of 1.5p a share is expected to be paid for 2014 but a 2015 dividend 8p a share is forecast.

Trading is in line with expectations, with demand for home improvement and energy efficiency products increasing. Edison forecasts a 2014 profit of £10 million on revenues of £119.4 million, rising to £11 million on revenues of £127.6 million in 2015. Net cash is expected to be £4.2 million at the end of 2014 and the cash pile will continue to increase unless Entu makes further acquisitions. A dividend of 8p a share would be covered 1.6 times by forecast earnings.

Prospective dividend yield: 7.7%
Market capitalisation: £67.9 million
Share price: 103.5p
% change year to date: +3.5% (based on flotation price)

Entu generates most of its revenues from windows, doors and solar panels, but the focus is increasingly on energy efficiency products. Manufacturing is outsourced and installed by the company's Job Worth Doing national installation business. Entu has grown by acquiring a number of regional brands, including Zenith, Weatherseal, Penicuik, Staybrite Solar, Europlas and Norwood. The group's market share of the home improvement sector is estimated at 2.6%.




http://www.iii.co.uk/articles/213074/aims-biggest-dividend-payers-2015

Notice of Results
RNS
RNS Number : 3205C
entu (UK) plc
16 January 2015



entu (UK) plc



Notice of Results



entu (UK) plc, the home improvement group providing energy efficiency products and services to homeowners in the UK, will announce results for the year ending 31 October 2014 on Tuesday 10 February 2015.



16 January 2015

Manchester’s entu forecasts revenues of £120 million


20 Jan 2015


Manchester’s entu, the home improvement group providing energy efficiency products and services to homeowners in the UK, forecast yearly revenues of £120 million and profits of £10.5 million.

The news comes after the company launched on London’s Alternative Investment Market (AIM).

The Manchester based company has 365 full time employees across the group and 1216 self-employed canvassers.

entu are the parent company for a number of regional brands who operate across the country, including Zenith, Penicuik and Job Worth Doing.

Through these companies, entu provide everything from home improvement installation to energy-saving guidance.

Managing Director of entu energy services, Andy Corless said: “Over recent years education around energy efficiency and the need to reduce energy costs has grown, clearly making the case for energy usage reduction

“The driver of the domestic energy efficiency market will be the capturing of individual property energy usage data currently the ability to do this is in its infancy.

“Our brand personality is passionate, focussed and driven by a small high powered team.

“entu energy services is committed to making energy work harder.”


https://bdaily.co.uk/environment/20-01-2015/manchesters-entu-is-forecasting-yearly-revenues-of-120-million/

Holding(s) in Company - PREMIER FUND MANAGERS LIMITED > 10%




http://www.moneyam.com/action/news/showArticle?id=4962377

MOU agreement with entu
RNS
RNS Number : 4659E
Flowgroup plc
10 February 2015



Flowgroup plc

("Flowgroup" or the "Company")



MOU agreement with entu



Flowgroup plc (AIM: FLOW), which develops and commercialises alternative and efficient energy technology products, announces that it has signed a Memorandum of Understanding ("MOU") with entu (UK) Plc ("entu"), the multi-product and service home improvement group, for entu to sell, install and maintain the Company's electricity-generating Flow boiler and to market the Company's home energy offer.



Founded in 2008 and with annual revenues for the period ending 31 October 2013 of £95m, entu represents a portfolio of 10 successful energy efficiency brands and is engaged in the sale of a broad range of energy and home improvement products. It also offers a repairs and renewals service agreement programme. It supports this activity through 71 sales and marketing offices and 14 repair and installation service centres across England and Scotland. entu has a significant existing customer base to which to market Flowgroup's ground-breaking boiler and home energy offer. It is expected that entu will be able to provide an end-to-end sales process with regard to the Flow boiler and will provide referrals through to Flow for new home energy contracts.



Having already registered significant numbers of independent boiler installers to act as sales agents, signing an MOU with entu is the first agreement with a larger network and will, the Company believes, accelerate sales, both of the Company's boiler and its home energy offer.



Tony Stiff, CEO of Flowgroup, commented:"We're extremely pleased to be announcing this agreement today. entu has extensive experience of selling energy-related products through its national sales network as well as a large existing database of customers who are interested in these products. We believe this partnership has the potential to accelerate significant sales of both our ground-breaking Flow boiler and our home energy offer, supplementing our own direct sales campaign. The scope of this agreement includes our home energy offer, creating a new sales channel that could play an important role in any expansion of our energy business. In addition, under their well-known brand Job Worth Doing, entu offers a branded national installation service, which adds to our existing installation, service and repair capacity."



Ian Blackhurst, CEO of entu, added: "We are pleased to announce our partnership with Flowgroup, which will significantly enhance our fully integrated home improvements and energy efficiency offering. With an increased push from consumers for greater energy self-sufficiency, this partnership allows entu to benefit further from growth in the home improvement and energy efficiency market, as we continue our strategy of growth through the development of innovative product offerings and partnerships."

Entu reveals green home improvements are a source of financial self-improvement as profits soar 48%

By Ian Lyall

February 10 2015, 1:34pm
Entu has signed an outline agreement with Flowgroup that will allow Entu to install and maintain the former’s electricity generating domestic boiler

Entu (LON:ENTU), the home improvements group that sells energy efficient products, unveiled a 48% rise in annual profits as investors were told they would receive a dividend a full year ahead of plan.

The group said when it listed on AIM last autumn that it would make its first pay-out at the end of this financial year.

But investors learned this morning they would receive a 1.5p a share special interim divi in March.

The financial performance for the 12 months to October 31 was a strong one with pre-tax profits rising to £9.1mln from £6mln in the year earlier aided by a 25% jump in turnover to £119mln.

By far the biggest source of revenue was the home improvement division, weighing in with £84.3mln in sales.

The group finished the period with £5.8mln in net cash.

Entu said it was confident about the prospects for the coming year.

"Our primary strategy is to focus on driving organic growth from our diversified, fully integrated product portfolio, and also, over time, through the development of new product and service offerings, in particular, energy efficiency products and services,” added chief executive Ian Blackhurst.

"With our market leading positions, diversified product portfolio and deep customer knowledge, we are able to look forward to the future with confidence, and the board believes Entu is well positioned to deliver growth and shareholder value."

In a separate announcement the firm said it is signed an outline agreement with Flowgroup that will allow Entu to install and maintain the former’s electricity generating domestic boiler.

This will be done through Entu’s Job Worth Doing subsidiary.

Entu shares, listed at £1 each last October, were changing hands for 122p for a rise of 6.56% on the day.

"At this valuation, and considering our conservative forecasts, we see value in the stock at current levels," said broker Zeus Capital.

SMALL CAP SHARE IDEAS: Soaring sales of smart boilers and solar panels help newly floated Entu to a solid start

By Ian Lyall For Thisismoney.co.uk

Published: 16:47, 16 February 2015 | Updated: 16:47, 16 February 2015


Entu, the home improvements group that sells energy-efficient products such as smart boilers and solar panels, has enjoyed a solid start to life on AIM.



Investors who bought in at the IPO last October will be satisfied with the 21 per cent increase in the share price and will have been surprised by the early payment of a special interim dividend.

The annual results, meanwhile, revealed the group to be in rude financial health with sales up 25 per cent, profits ahead 48 per cent and cash in the bank of around £5.8million.



Energy efficiency: Entu sells products such as smart boilers and solar panels




As well as it has done to date, this is very much the start of the story for chief executive and serial entrepreneur Ian Blackhurst, who is keen to build a business of scale.

Entu, which owns Weatherseal, Staybright Solar and Zenith, was put together by Blackhurst, finance director Darren Cornwall and Brian Kennedy, the Sale Sharks owner.


Kennedy reduced his shareholding following the AIM listing and no longer has day-to-day involvement with the firm.

Set up in 2008, Entu bought a number of its businesses at knock-down prices from the administrator, businesses which had foundered because of the recession and because they were burdened by onerous cost base-bases but were essentially decent businesses.

Moving them onto a single shared and flexible platform has significantly lowered those overheads. This should ensure Entu is recession-proof.



Up: Shares in Endu soared by 21 per cent since it floated last October


Blackhurst realised a number of years ago that rising gas and electricity prices would eventually prompt home owners to look at ways of cutting bills by becoming more energy efficient.

His own attempts to ring the changes at home convinced there was a significant unmet need.

‘I had a thoroughly unpleasant experience with a number of contractors and thought there was an opportunity in the marketplace,’ he explained.

‘Generally people’s experience with local tradespeople – which is who we compete with – tends to be patchy at best. You don’t know whether it is going to be good or bad – all you know is it going to be inconsistent and the follow-up is poor.

‘This is what drew me to this marketplace.’

The recent results revealed full-year pre-tax profits were in line with expectations at £9million on sales of £119million.

The operating margin increased even though the gross margin fell slightly, reflecting the economies of scale that emanate from having a single shared platform for administrative functions such as human resources and compliance.


ENTU AT A GLANCE


AIM ticker: ENTU

Valuation: £79million

Listed at: 100p

Current price: 120p
.
Zeus Capital is predicting turnover will grow to £131.5million this year and £140.3million in 2016, giving pre-tax profits of £11.5million and £13.2million respectively.

The broker’s forecasts reflect only the organic growth potential of Entu and take no account of potential acquisitions.

‘We have traditionally done one deal a year,’ said Blackhurst.

‘Quality people and opportunities make acquisitions. People assume because you are on the stock market you are going to overpay. We won’t; we will make sure any deal we do is earnings enhancing.’

The listing provides the company with acquisition currency in the form of equity, but the Entu chief executive said the business has the financial headroom to take on debt. ‘We wouldn’t stretch ourselves more than two times earnings,’ he revealed.

There are also opportunities to cross-sell products to the 1.2million who have bought from the company or the 14,000 people its sales team meet every month.

None of this latent potential is factored into the current share price of 120p, which values Entu at around eight times prospective earnings, a significant discount to the sector average of over 16 times.

Of course, this valuation gap will narrow if the company hits its forecasts in the manner it did with the prelims.

However, Entu is not just a growth stock. Broker Zeus is predicting the total pay-out will be 9.5p this year, giving a dividend yield of 8 per cent, which puts it at the head of its peer group, where yields are anywhere from 0.7 per cent to 6.4 per cent.

‘At this valuation, and considering our conservative forecasts, we see value in the stock at current levels,’ said Zeus analyst Dr Tom McColm in a note to clients.






http://www.dailymail.co.uk/money/investing/article-2955828/SMALL-CAP-SHARE-IDEAS-Soaring-sales-solar-panels-help-Entu-solid-start.html?ITO=1490&ns_mchannel=rss&ns_campaign=1490

Entu: A good start, but much more to come, says boss

By Ian Lyall

February 19 2015, 11:09am
The home improvements group sells energy-efficient products such as smart boilers and solar panels.
The home improvements group sells energy-efficient products such as smart boilers and solar panels.


Entu (LON:ENTU), the home improvements group that sells energy-efficient products such as smart boilers and solar panels, has enjoyed a solid start to life on AIM.

Investors who bought in at the IPO last October will be satisfied with the 21% increase in the share price and will have been surprised by the early payment of a special interim dividend.

The annual results, meanwhile, revealed the group to be in rude financial health with sales up 25%, profits ahead 48% and cash in the bank of around £5.8mln.

As well as it has done to date, this is very much the start of the story for chief executive and serial entrepreneur Ian Blackhurst, who is keen to build a business of scale.

Entu, which owns Weatherseal, Staybright Solar and Zenith, was put together by Blackhurst, finance director Darren Cornwall and Brian Kennedy, the Sale Sharks owner.

Kennedy reduced his shareholding following the AIM listing and no longer has day-to-day involvement with the firm.

Set up in 2008, Entu bought a number of its businesses at knock-down prices from the administrator, businesses which had foundered because of the recession and because they were burdened by onerous cost base-bases but were essentially decent businesses.

Moving them onto a single shared and flexible platform has significantly lowered those overheads. This should ensure Entu is recession-proof.

Blackhurst realised a number of years ago that rising gas and electricity prices would eventually prompt home owners to look at ways of cutting bills by becoming more energy efficient.

His own attempts to ring the changes at home convinced there was a significant unmet need.

“I had a thoroughly unpleasant experience with a number of contractors and thought there was an opportunity in the marketplace,” he explained.

“Generally people’s experience with local tradespeople – which is who we compete with – tends to be patchy at best. You don’t know whether it is going to be good or bad – all you know is it going to be inconsistent and the follow-up is poor.

“This is what drew me to this marketplace.”

The recent results revealed full-year pre-tax profits were in line with expectations at £9mln on sales of £119mln.

The operating margin increased even though the gross margin fell slightly, reflecting the economies of scale that emanate from having a single shared platform for administrative functions such as human resources and compliance.

Zeus Capital is predicting turnover will grow to £131.5mln this year and £140.3mln in 2016, giving pre-tax profits of £11.5mln and £13.2mln respectively.

The broker’s forecasts reflect only the organic growth potential of Entu and take no account of potential acquisitions.

“We have traditionally done one deal a year,” said Blackhurst.

“Quality people and opportunities make acquisitions. People assume because you are on the stock market you are going to overpay. We won’t; we will make sure any deal we do is earnings enhancing.”

The listing provides the company with acquisition currency in the form of equity, but the Entu chief executive said the business has the financial headroom to take on debt. “We wouldn’t stretch ourselves more than two times earnings,” he revealed.

There are also opportunities to cross-sell products to the 1.2mln who have bought from the company or the 14,000 people its sales team meet every month.

None of this latent potential is factored into the current share price of 120p, which values Entu at around eight times prospective earnings, a significant discount to the sector average of over 16 times.

Of course, this valuation gap will narrow if the company hits its forecasts in the manner it did with the prelims.

However, Entu is not just a growth stock. Broker Zeus is predicting the total pay-out will be 9.5p this year, giving a dividend yield of 8%, which puts it at the head of its peer group, where yields are anywhere from 0.7% to 6.4%.

“At this valuation, and considering our conservative forecasts, we see value in the stock at current levels,” said Zeus analyst Dr Tom McColm in a note to clients.

Acquisition of Astley Facades
RNS
RNS Number : 6608I
entu (UK) plc
27 March 2015



Entu (UK) plc




Acquisition of Astley Facades



Entu (UK) plc ("entu" or the "Company") (AIM: ENTU), the home improvement group providing energy efficiency products and services to homeowners in the UK, is pleased to announce that it has completed the acquisition of the entire issued share capital of Astley Facades Limited and its wholly owned subsidiaries (together the "Astley Companies") from Gentoo Group Limited. The total consideration is £0.2 million in cash, which will be paid out of the Company's existing cash reserves, representing the net assets to be acquired on completion,



The Astley Companies have expertise and a market-leading reputation in energy efficient exterior wall insulation, render and specialist cladding for new-build construction and the refurbishment of existing building stock. The acquired business operates from a head office in Wigan servicing primarily commercial customers around the UK and will join entu's growing energy services division.



This acquisition is in line with entu's stated strategy to broaden its product portfolio and the range of customers it serves. It will enable entu to develop a platform to scale up the products offered by the Astley Companies nationally across high and low-rise properties for both commercial and domestic buildings. In addition it will continue to develop entu's skill base in energy efficient products.



For the year ended 31 March 2014 the trading subsidiaries of the Astley Companies had a combined turnover of approximately £12.2 million and pre-tax losses of approximately £1.4 million. The Astley Companies are currently trading on a break-even basis and it is expected that this acquisition will make a positive contribution towards entu's earnings for the year ending 31 October 2016.





Ian Blackhurst, CEO of entu, commented:



"We have previously identified energy efficient products as an important area in which we want to grow, so this acquisition is an important step forward for us.



"We are delighted to welcome the Astley Companies to entu: they will enable us to build our presence and our reputation in the facades solutions market, and also create a national platform and skill base from which to deliver other energy efficiency and ECO products."

Hello dreamcatcher - I've added this in the last week, good write up in IC as well recently.

Looks good Greyhound, a nice and steady sp climb. Happy easter to you. :-))

Thanks, some more gains starting to come through...

ST of IC today - Target prices smashed

So with Entu’s cash flow robust, earnings rising at a decent lick, and the board paying out dividends earlier than expected, it’s hardly surprising that investors have been warming to the investment case. In fact, the share price has taken out my initial target price of 130p, and after factoring in dividends the holding has returned 38 per cent since I initiated coverage in mid-November. But I feel there should be more upside to come as Entu’s shares are still only rated on 11 times adjusted earnings estimates for the 12 months to end October 2015 (or 10 times on a cash adjusted basis) and are well supported by a healthy 5.5 per cent dividend yield. And with bolt-on acquisitions set to lift earnings even higher, then there is even the prospect of Entu entering into an earnings upgrade cycle as the year progresses.

In the circumstances, and taking all the above factors in consideration, I am raising my target price to 165p, a price level valuing Entu’s equity on 12 times cash adjusted earnings and implying a forward dividend yield of 4.8 per cent. Buy.

Another one badly hit by the removal of Government subsidies.

Half yearly report

ST of IC today - If Entu hits market estimates, then its high yielding shares will surely re-rate sharply in my view. And that’s an execution risk I am more than comfortable taking on which is why I continue to rate the shares a decent income buy and maintain a fair value target price of 165p.

IC - Entu says it will not be materially affected by last months EU ruling against the VAT subsidies for energy efficient products in the UK. Entu's shares fell sharply on the news that Flowgroup - whose boilers Entu installs - was reliant on a lower VAT rate , although entu already applies the full 20% chargeto the ''large majority'' of its products.
Entu has some catching up to do to hit market expectations for 2015, but management is confident.

Trading Update
RNS
RNS Number : 6229X
entu (UK) plc
01 September 2015



entu (UK) plc



Trading Update



Entu (UK) Plc ("Entu" or the "Company" or the "Group"), the home improvement group providing energy efficiency products and services to homeowners in the UK, has the following update on trading.



Discontinuance of Solar division



In the announcement of its results for the six months ended 30 April 2015, Entu highlighted the difficulties that it had faced in its Solar division during the first half of the year. The improvement in activity levels expected in the historically stronger months of July and August have not materialised. Furthermore, the Board expects the market environment for Solar to become increasingly difficult as a result of speculation about a possible increase in VAT for its solar products from 5% to 20% and uncertainties concerning the future level of feed-in tariffs, in particular a recent Government proposal for a substantial reduction in feed-in tariffs with effect from January 2016.



The Company now estimates that it will lose in excess of £2.0 million during the current year from its Solar activities against a budgeted contribution of £1.6 million. The Board does not believe that its Solar business is likely to make an acceptable return on investment in the medium term and therefore, after fulfilling all current obligations, Entu will discontinue its retail Solar activities in a controlled manner, and re-train and re-deploy as many staff as possible into its other activities.



Outlook



Following the developments in Solar, Entu now anticipates that its full year results will be below market expectations. The Company expects that its continuing activities will report an operating profit of approximately £8.0 million for the year ending 31st October 2015.



Difficulties in its Solar business notwithstanding, the Board remains confident of the future prospects of the Company's continuing activities, comprising home improvement products, insulation products, boilers and repairs and renewals cover plans, which continue to trade in line with management's expectations. As previously announced these activities have the benefit of a substantial forward order book in excess of £30 million.



Dividend



The Company paid an interim dividend of 2.67 pence per share on 28 August 2015 and, in announcing its half year results, the Board reconfirmed its intention to recommend a final dividend of 5.33 pence per share, to bring the total dividend for the year ending 31 October 2015 to 8 pence per share.



In light of today's update, the Company will reconsider the final dividend at the time of the preliminary announcement of its results for the year, expected to be in February 2016. The Board expect that this will not be less than 2.67p, being the same as the interim payment, giving a total for the year of not less than 5.34p.



Core Strategy Unchanged



Entu's core strategy remains unchanged: to focus on driving organic growth from the Group's integrated product portfolio, supplemented by the agreement of corporate contracts both through the existing Group and through complementary acquisitions, with the aim of broadening the Group's ultimate customer base. The Group will maintain its focus on ensuring that the right resources are deployed to drive growth in those areas where there exist the most compelling opportunities. Entu continues to benefit from its market leading positions in key geographies. Carefully selected acquisitions will continue to be pursued where they meet the Group's criteria to complement and broaden its offering in the energy efficiency market as well as materially enhancing earnings per share.



Ian Blackhurst, Chief Executive of Entu said:



"The prospects for our Solar business have deteriorated dramatically over the last six months, and we have taken a decision which I have no doubt will be seen to be correct. However we have disappointed our shareholders and I can only assure them that we are entirely focused on restoring earnings, dividends and shareholder value."