Chloride presses the right buttons
Midas, Mail on Sunday
17 October 2004

ALK of power cuts this winter and ageing electricity infrastructure is music to the ears of Keith Hodgkinson, chief executive of Chloride Group.

Though its name is still synonymous with its former battery manufacturing business, Chloride now focuses on technology-to protect electrical equipment from power failures.

Its principal business is uninterruptible power supplies (UPS), in effect large batteries or generators that maintain a flow of electricity in the event of a mains failure.

Tomorrow, the group will announce it has won a major UPS contract at Milan airport. A catastrophic power failure two weeks ago led to the cancellation of 389 flights at the airport.

The company's top-of-the-range system, LIFE.net*, monitors the performance of UPS systems from a remote communications centre, diagnosing and repairing faults without a site visit.

Chloride is recovering after its profits slumped in 2002, when high-spending telecoms customers tightened their purse strings in the face of a market slowdown.

Profits have risen in the past two years and the annual dividend* was increased this year for the first time since 2001.

In a trading statement last month ahead of interim results on 28 October, the company said there were continuing signs of recovery with its performance well ahead of last year.

Analysts forecast profits this year of about 9.45m, with earnings per share* of 2.7p.

With the shares at 44 1/ 2p, the group is valued at 111m llion and trading at almost 17 times expected earnings, which we do not think is too pricey.

Midas verdict: Chloride has been out of the spotlight for some time, rebuilding its business and hoping for more favourable markets, but it is emerging from the shadows. The UPS market is forecast to show good growth and Chloride, with its global reach, should benefit. Buy.

http://www.thisismoney.com/20041017/nm83587.html

What the Brokers say.................

Strong Buy 1
Buy 2
Neutral 1
Sell 0
Strong Sell 1
Total 5

cheers GF.

From UK analyst................

Shares in electronic over-ride group Chloride were charged after it was tipped in the weekend press. The Mail on Sunday noted that it had seen 2 years of rising profits and would benefit from its global reach. The shares were recommended as a "buy" at 44.5p. The article said that there would be announcement today of a new contract win at Milan Airport - this failed to materialise (well done the Mail) but the shares still added 3p to 47.5p.

cheers GF. Wonder if the announcement will be made and how much will it put on the price?????????????????????????.

Holding steady. I think we need that Milan deal to get things moving.

It'l come Azhar, and when it does we could have a nive move upwards. Buys far higher than sells so far today.

cheers GF.

on bloomberg news lsat night/they said the deal had been done/
(tich -tape)

definately worth a good punt -results out on 28th October 2004 -with the major contract win I reckon -should see 55p by then imho!

Good point made there hondaman, yes they are likely to announce the new contract on results day.

Some nice big buying today.

cheers GF

bristlelad if the deals been done it should have been reported on RNS so it could be out either weds or thursday.

cheers GF.

I agree/ gf/ i have aiso looked confirmation/ could not find any on RNS etc of deal / still in and hoping/

Still waiting to get in....

Slipped a bit today. Maybe ppl think that there maybe no Milan deal.

Looks like all small caps taking an hit. Certainly more buys than sells with this one.

cheers GF.

MMs messed about with the spread and price yesterday. Get in now before they price you out.

cheers GF.

Will rise in the morning.

GF.

Has done and looking good.

cheers GF.

Risen again not much but looking for further gains as we go up to results.

cheers GF.

Chloride Group PLC
28 October 2004


CHLORIDE GROUP PLC


UNAUDITED INTERIM RESULTS

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2004



28 October 2004





Through rigorous focus on innovation, flexibility and reliability, Chloride is
the supplier of choice for power protection solutions. Its strengths derive
from applying innovative technologies and industry-leading customer service to
the protection of critical applications worldwide.



HIGHLIGHTS





Sales up 3% to 77.7 million (2003: 75.1 million) - 9% growth at
constant exchange rates


Total Solutions approach leads to further good growth in service
revenues in excess of 12%


Operating profit before goodwill amortisation up 30% to 4.4 million
(2003: 3.4 million)


Adjusted earnings per share before goodwill amortisation up 30% at
1.23p (2003: 0.95p). Basic EPS up 89% at 0.72p (2003: 0.38p)


Order intake up 9% at 83.6 million (2003: 76.8 million) compared to
an estimated global growth rate of c. 5%


Interim dividend up 6.25% at 0.85p (2003: 0.80p), reflecting the
Board's continued confidence in future performance


http://www.moneyam.com/InvestorsRoom/ShowPostList?fID=1&tID=826

Chloride raises H1 pretax in 'extremely competitive' mkts
AFX


LONDON (AFX) - Chloride Group PLC raised pretax profit in the six months to Sept 30 2004 to 2.65 mln stg from 1.67 mln a year earlier but it said markets remain 'extremely competitive'.

Overall, however, the board said it has continued confidence in its future performance and it raised the interim dividend to 0.85 pence from 0.8 pence to reflect this.

The power protection solutions supplier said sales edged up 3 pct in the first half to 77.7 mln stg from 75.1 mln. At constant exchange rates, growth was 9 pct.

The board noted particularly good growth in the oil and gas, energy, health, retail, government and telecom-related sectors. Increased investment in the oil and gas and energy sectors continues to open up opportunities, with important projects in the North Sea and Middle East countries.

The company said the telecom-related sector is also displaying encouraging signs of growth particularly in the call centre- and data centre-related areas.

At constant exchange rates Chloride said it achieved double digit sales growth in its largest market, Europe, reflecting improved market conditions and indicating an increase in market share. Sales were also up in the US.

Chairman Norman Broadhurst said: 'We believe that our continuing initiatives to increase competitive advantage are allowing us to respond effectively to the opportunities in our key sectors. We enter the second half with a stronger order book and greater confidence that we can deliver further improvements in performance as our markets recover.'

newsdesk@afxnews.com

slm/

Come out with some excelent recovery results..................

Chloride H1 pretax 2.65 mln stg vs 1.67 mln
AFX


LONDON (AFX) - Chloride Group PLC six months to September 30 2004

Sales - 77.70 mln stg vs 75.11 mln

Pretax profit - 2.65 mln stg vs 1.67 mln

Operating profit before goodwill - 4.37 mln stg vs 3.37 mln

Operating profit - 3.15 mln stg vs 2.03 mln

Adjusted EPS before goodwill - 1.23 pence vs 0.95

EPS - 0.72 pence vs 0.38

Interim div - 0.85 pence vs 0.80



vjt/




cheers GF.

Moving up nicely now.

cheers GF.