Does anyone have any feelings for Yule Catto?

I sold short on CFD a few weeks back but now they seem to be on the way back up.
They seem to be building support at 240 and are testing the 270.

If any has any opinions on which way they're heading, I greatly appreciate.

Graham

Rumour of Dow Chemicals considering offer of 360p.

Bullish set of broker figures and such a cheap stock. Way too cheap in fact imo. Forward P/E of just over 9 to 2012.!!!!!

Yule Catto & Co PLC

FORECASTS 2011 2012
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

The Royal Bank of Scotland NV
14-07-11 HOLD 82.28 18.33 3.00 110.58 23.11 3.43
Brewin Dolphin
08-07-11 BUY 81.60 17.40 2.60 113.60 24.00 3.00
Altium Securities
10-06-11 BUY 90.80 20.00 3.00 113.40 25.00 4.00
Numis Securities Ltd
12-05-11 ADD 85.60 18.30 2.75 113.40 24.40 2.90

2011 2012
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 84.44 18.40 2.84 112.50 23.98 3.31
1 Month Change 5.87 1.65 0.01 -0.18 -0.04 -0.01
3 Month Change 7.06 0.17 -0.78 12.26 0.71 -0.95


GROWTH
2010 (A) 2011 (E) 2012 (E)
Norm. EPS 18.14% 0.68% 30.28%
DPS % 118.77% 16.46%

INVESTMENT RATIOS
2010 (A) 2011 (E) 2012 (E)

EBITDA 64.82m 124.26m 157.90m
EBIT 50.20m m m
Dividend Yield 0.58% 1.27% 1.48%
Dividend Cover 14.06x 6.47x 7.24x
PER 12.29x 12.20x 9.37x
PEG 0.68f 17.88f 0.31f
Net Asset Value PS -5.32p 103.24p 122.44p

but looks like a solid resistance at just above 230

YULC tipped this morning.........

http://www.telegraph.co.uk/finance/markets/questor/8650566/Questor-share-tip-Beware-Yule-Catto-bid-talk.html

Yule Catto & Co plc is pleased to announce its interim results for the six months ended 30 June 2011.
HIGHLIGHTS
Very successful first half; strong increase in sales and profits, benefiting from good growth in Asia and the acquisition of PolymerLatex

Underlying Profit before tax of 43.5m - up 81%

Underlying earnings per share of 10.0p - up 23%

Interim dividend of 1.2p per ordinary share; commitment to at least 3.0p for full year

Total sales of 547.7m - up 65%

Over 40% of Polymer sales in Asia and other high growth markets

PolymerLatex integration on track - good progress on synergy delivery

Adrian Whitfield, Chief Executive, commented:
"The Group had an excellent first half, delivering strong growth in underlying earnings. We have benefited from our position in Asia, where we experienced strong demand for our products, and the PolymerLatex acquisition is delivering synergies in line with our original plans.

We remain cautious regarding the wider economic outlook given the recent turmoil in the equity markets, and the expectations of weakening global demand which we have seen some evidence of during July and August. However, Yule Catto's strong portfolio of market leading products, our high percentage of sales into Asia and other developing economies, and our near term synergy benefits from the PolymerLatex acquisition underpin the Board's confidence in the Group's prospects for the medium term.

Whilst the Board anticipates performance in the second half will likely be affected by current macro-economic difficulties, and the usual seasonal effects, in aggregate, with the benefit of the synergies from the PolymerLatex acquisition, full year earnings are expected to be modestly ahead of previous expectations."

Acquisition
Yule Catto is pleased to announce the acquisition of Quality Polymer Sdn Bhd ("QP"), a Malaysian aqueous polymer producer, for a consideration of 10M (cash and debt free).

This acquisition will allow Yule Catto to expand its South East Asian production and sales of acrylic and vinylic polymer dispersions for the adhesives, building products and coating sectors. QP employs 30 staff at its factory located close to Yule Catto's existing plant in Pasir Gudang. The vendor is Nippon Paint Malaysia.

Quality Polymer has historic annual sales of some 10M. It is expected that the acquisition will be earnings enhancing in financial year 2012.

Following the acquisition, QP will operate as a subsidiary of Yule Catto, directly owned by the Group's 70% subsidiary, Revertex Malaysia SB.

StockMarketWire.com
Yule Catto & Co has performed well in what has been a period of considerable economic uncertainty, and earnings for the third quarter were slightly ahead of the Board's expectations at the date of the interim results.

The Polymers business saw generally softer demand across all regions compared to the first half of the year, as the customer destocking which started in July and August at the time of the Group's interim statement continued through the period resulting in a modest reduction in volumes.

Monomer prices fell back through the period following the steep increases experienced through 2010 and the first half of 2011, with substantial falls in September and October.

The benefit of weakening input prices and product price management ensured that third quarter pro-forma profitability continued to be comfortably ahead of prior year.

The delivery of synergies from the PolymerLatex acquisition continues to progress well and to plan. After six months of ownership, synergies had reached an annualised run rate of 8M at the end of the third quarter.

The Board remains highly confident of achieving the planned annual synergies from the acquisition of at least 20m in the second 12 months post acquisition.

The company's net debt reduced to 226M at the end of September from 240M at the end of June.

On 17 October, the Group announced the acquisition of Quality Polymer, a Malaysian aqueous polymer producer, expanding the Group's South East Asian production and sales of acrylic and vinylic polymer dispersions and adding a facility located close to Yule Catto's existing plant in Pasir Gudang.

30 Nov: UBS says: Buy - Target: 235.00p

StockMarketWire.com
Yule Catto & Co has announce the sale of its non-core Pharma Chemicals division, Uquifa, to Vivimed Labs for a total consideration of 35m.

The proceeds comprise 28.6 million paid in cash and an unconditional payment of 6.4 million deferred for three years, covered by an irrevocable UK bank guarantee. The proceeds will be used to pay down Group indebtedness.

Dec 6: YULC - Bank of America: Buy - TP: 255.00p

StockMarketWire.com
Yule Catto & Co has seen further reductions in demand in the fourth quarter.

Following the modest volume reductions reported for the third quarter, percentage volume declines in the fourth quarter have been in the mid teens. These volume declines have been largely offset by continued margin management.

The speciality chemical producer's latest trading update shows net debt has fallen substantially with lower working capital requirements and proceeds from the sale of the Pharma division. Year end net debt is expected to be comfortably below £200m.

Synergy delivery from the acquisition of PolymerLatex continues to progress well and to plan. The Group exited the year with an annualised run rate of £15m, and remains on track to deliver the planned annual synergies of at least £20m in the second 12 months post acquisition.

The Board expects the impact of these synergies to add some £14m of profit in 2012 compared to 2011.

Not quite sure why this one is surging ahead. Not in a recovery sector yet.

Gone long again bouncing off supp/res

Forward P/E to 2012 just 8.5

Derd Cheap.

Think results are next week aswel.

YULC YULE CATTO

Strong Broker following....

Forward P/E 8.5 to end 2012

Way too cheap.

Yule Catto & Co PLC

FORECASTS 2011 2012
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

N+1 Brewin
05-03-12 BUY 87.10 18.40 3.00 109.80 23.20 3.30
Peel Hunt
05-03-12 BUY 92.21 19.70 3.00 116.05 24.50 3.30
Broker Name Withheld 3
22-02-12 BUY 87.70 18.70 3.50 104.70 22.10 4.50
Numis Securities Ltd
11-01-12 BUY 89.60 19.80 3.00 103.40 22.60 3.90
The Royal Bank of Scotland NV
28-11-11 HOLD 84.88 20.56 3.15 94.50 19.59 3.15
Altium Securities
10-11-11 BUY 88.00 19.40 3.00 117.60 25.90 4.00

2011 2012
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Consensus 88.82 19.24 3.11 109.09 23.23 3.68
1 Month Change 1.21 -0.01 -0.03 2.80 0.50 -0.13
3 Month Change 1.45 -0.16 0.02 0.32 -0.09 -0.04


GROWTH
2010 (A) 2011 (E) 2012 (E)

Norm. EPS 18.14% 5.25% 20.74%
DPS % 138.92% 18.45%

INVESTMENT RATIOS
2010 (A) 2011 (E) 2012 (E)

EBITDA £64.82m £110.60m £143.49m
EBIT £50.20m £98.70m £118.10m
Dividend Yield 0.65% 1.56% 1.85%
Dividend Cover 14.06x 6.19x 6.31x
PER 10.89x 10.34x 8.57x
PEG 0.60f 1.97f 0.41f
Net Asset Value PS -5.32p 95.70p 111.48p


hemscott Premium

YULC

Bouncing off support...

Broker Ratings

Strong Buy 8
Buy 3
Hold 0
Sell 0
Strong Sell 0

YULC Yule Catto.

TA position looking extremely bullish
for YULC. A bounce up from a long
established support line going back
to 2011.

goldy you seem to have got this one right.

.

StockMarketWire.com
Yule Catto & Co reports underlying Group sales up 92% to £1,117 million, mainly due to the PolymerLatex acquisition.

Underlying profit before tax was up 99% to £84.8 million up 25% to £96.0 million on an underlying pro-forma basis.

Underlying earnings per share were up 30% at 18.8p and net borrowings of £164.3 million, reduced by over £70 million since PolymerLatex acquisition.

Net cash inflow from operating activities (IFRS) up 85% to £45.0 million. The board announced a final dividend of 2.3p per share giving a full year dividend of 3.5p, up 35%.

The PolymerLatex acquisition completed in March, effectively doubled the size of the business.

Integration is well on track, with synergy run rate of £15 million at the year end; synergy run rate now expected to reach £25 million by March 2013

Disposal of non-core Pharma business in November marked the last stage in the Group's transformation to a focused speciality Polymer business

Adrian Whitfield, Chief Executive, comments: "2011 was a pivotal year in the development of the Yule Catto Group. With the increased scale created by the PolymerLatex acquisition, and the subsequent sale of our Pharma business, Yule Catto has now become a substantial focused speciality Polymer business with a strong and diversified portfolio of products and well invested facilities in Europe and Asia.

"Whilst the general economic environment requires a degree of caution, I am pleased that the business has made a solid start to the year, and the Board remains confident about the prospects for the Group in 2012 and beyond."