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.

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