"Alent is a leading global supplier of advanced surface treatment plating chemicals and electronics assembly materials. The principal end-market is global electronics production which accounts for approximately three-quarters of net sales value with the automotive and industrial end-markets the balance."

Both Vesuvius Plc & Alent Plc are seperate companies created from the demerger of Cookson Plc in Dec 2012.

http://www.alent.com/

I try to invest in sectors which I understand and have some history. ALNT doesn't fit into either of those categories so I am winging it atm!!!

Think itl come good in fact wouldnt rule out one of the tip sheets tipping it either this weekend or next.

01 Feb Alent ALNT Oriel Securities Add 334.00 334.70 - - Initiates/Starts

Starts coverage with an ADD recommendation.

286k shares traded & sp up 7%, which probably means it won't last too long! Currently 366p.

Now 408p and way beyond any broker target price.

28 March 2013 - Announcement of 2012 full year results
April 2013 - Publication of 2012 annual report and account

Results for the year ended 31 December 2012

2012: A resilient year with a strong platform for growth

Highlights:

§ First set of reported results for Alent plc, formed on 19 December 2012

§ A focused leading supplier of specialty chemicals and engineered materials

§ Assembly Materials outperformed the market

§ Surface Chemistries impacted by weaker global electronics and European automotive demand

§ Recommended final dividend of 5.5 pence per share, in line with guidance

§ Continued investment in future growth of the business

§ Well placed to make further progress in 2013

http://www.moneyam.com/action/news/showArticle?id=4563609

INTERIM MANAGEMENT STATEMENT
For the period from 1 January 2013 to 17 May 2013

Alent plc today issues its Interim Management Statement for the period from 1 January 2013 to 17 May 2013.

TRADING AND FINANCIAL POSITION
Trading for the first four months of the year was broadly in line with our expectations and there is no change in our outlook for the remainder of 2013.

Net Sales Value (NSV) in the first quarter was £101.8 million (2012: £108.1 million), 5.8% lower than the previous year. Lower smartphone, personal computer and semiconductor wafer start volumes in Q1 2013, and inventory build in copper damascene in Q1 2012, impacted NSV comparison year-on-year. Automotive end-markets remained in a similar pattern to 2012, with increased demand for our performance coatings products in Asia and the Americas offset by some weakness in European automotive production. Underlying NSV margin, excluding the effect of the Q1 2012 copper damascene inventory build, has continued to progress.

Electronics end-markets appear to be returning to a more normal seasonal cycle with a relatively slow first quarter following the traditional Q4 2012 build-up and reflecting the effects of the Chinese Lunar New Year holiday season.

Looking ahead we are seeing end customers increase wafer starts. This bodes well for modest recovery in printed circuit board fabrication and printed circuit board assembly in subsequent quarters. Forecasts for global electronic equipment revenue growth have moderated since the start of the year but expectations remain for positive year-on-year growth.

In the Assembly Materials business segment, following the traditionally strong Q4 2012, the business experienced an expected seasonal Q1 2013 decline in product demand in the smartphone and personal computer end-markets, with customers preparing for new product launches in the upcoming months.

The Surface Chemistries business segment is experiencing increased demand for printed circuit board fabrication chemistries and is in early stages of the ramp in products feeding the semiconductor fabrication end-markets.

Our financial position remains strong. Working capital trends in the first four months of 2013 have reflected normal seasonality with a build-up of working capital expected in the first half of the year and a corresponding reduction in the second half.

OUTLOOK
Whilst some of our electronics markets have had a relatively slow start to the year, there is no change in our outlook for the remainder of 2013 from that stated in our 28 March 2013 full year results announcement. Whilst we expect our first half performance to be flat or slightly below H1 2012, we continue to expect a resumption of growth in the second half of the year.

Credit Suisse starts outperform on Alent, target 430p.

Missed this broker comment....

20 May 13 Alent Credit Suisse Outperform 355.05 - 430.00 Initiates/Starts

SP TARGET 430p.

MIDAS: Vanished stalwart Cookson is back and set to boom

By Joanne Hart, Investments Editor

PUBLISHED: 22:07, 1 June 2013 | UPDATED: 22:07, 1 June 2013


Cookson was one of the best-known names in British industry – until it disappeared from the stock market in December.


But unlike other stalwarts, it did not vanish because it collapsed or was sold to a foreign buyer.


Instead the group was split into two separately listed companies, engineering group Vesuvius and Alent.




In demand: Alent makes electronics for the iPad and other tablets

Alent makes complex products used in goods ranging from tablet computers to lipstick holders.


Having gained its independence just before Christmas, the business, based in Woking, Surrey, is expected to grow considerably over the next few years and the stock, currently 370½p, should gain ground too.


Half of Alent’s revenue derives from electronics, where it contributes to the inner workings of a wide range of devices, including deluxe fridges, TVs, tablets, mobile phones and personal computers.


Alent’s customers include some of the biggest names in consumer electronics, such as Apple and Samsung. The group makes copper wiring for computer chips, chemicals that protect circuit boards from corrosion and solder to meld the components of these circuit boards together. The business is highly specialised and Alent is one of the few global players in the industry.

Its products form a tiny proportion of the cost of making electronic goods, but they make the assembly process much more reliable. This is critical for manufacturers of electronics, who are making thousands of items a day and need to keep production levels as high as possible.


Alent is not the cheapest supplier in the market but it is one of the best so customers are prepared to pay a few pennies more for quality and reliability. As such, the group enjoys strong profit margins and long-lasting relationships with customers.


Alent also produces chemicals that protect metal and make it look shiny. Its coatings are used for chrome parts in top-of-the-range cars, as well as the metal parts of glasses frames, handbag handles and make-up containers.


Customers range from BMW to Hermes, but most are large, international and high-end. The Royal Mint even uses Alent coatings for coins.


At the other end of the scale, Alent makes Fernox, used to descale boilers and a well-known brand in plumbers’ merchants nationwide.


Alent’s chief executive is Steve Corbett, an American who spent 23 years with Cookson and who relishes the chance to run Alent as an independent company.


Last year, the business was affected by a general slowdown in the consumer electronics industry and weakness in the automotive sector, so turnover fell 3.8 per cent to £417 million. However, pre-tax profit rose by 2.2 per cent to £89 million and the group paid a maiden dividend of 5.5p.


Brokers expect turnover to increase to £444 million this year with profits rising to £98 million and a dividend of more than 8.5p.


Corbett is ambitious for Alent, hoping to expand it by selective acquisitions and organic growth. As the half-year approaches, conditions in the electronic sector look better than last year and there are high hopes for continued recovery in the second half, particularly as momentum tends to pick up in the approach to Christmas.


Looking further ahead, computerised equipment will play an increasing role in daily life and forecasts suggest the electronics sector is likely to grow at a healthy pace for many years. Alent should benefit from this and the group is also keen to increase its coating presence in the fast-growing Asian car sector.


Midas verdict: Alent is a newly independent business and Corbett is determined to make a success of it. At 370½p, the shares offer good, long-term growth prospects. Buy.

From the ft -


Consensus recommendation


As of May 28, 2013, the consensus forecast amongst 6 polled investment analysts covering Alent PLC advises that the company will outperform the market. This has been the consensus forecast since the sentiment of investment analysts improved on Feb 01, 2013. The previous consensus forecast advised investors to hold their position in Alent PLC.



On Friday, Alent PLC (ALNT:LSE) closed at 370.60, 10.37 % below its post-IPO high of 413.50, set on Mar 15, 2013.

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StockMarketWire.com
Alent posts adjusted pre-tax profits of £41.4m for the six months to the end of June - down from £42.4m last time.

The group described the first half performance as 'solid' in challenging end-markets and announced an interim dividend of 2.89p per shre - up from 2.75p last time.

Chief executive Steve Corbett said: "We are pleased to report a solid set of results in the context of end-markets that proved to be more challenging than were expected.

"The second quarter was better than the first, but underlying growth across the total electronics supply chain was more subdued. Declines in high margin copper damascene due to de-stocking were largely anticipated and should normalise in the second half, however lower sales to a single customer at the larger feature nodes compounded the impact on our NSV margin during the period.

"Against this backdrop we have outperformed a number of key end-market segments. We have maintained price and cost discipline whilst continuing to invest in our OEM marketing and selling initiative, and we are encouraged that our NSV margin, excluding the impact of copper damascene, remained flat despite lower volumes in the period.

"Our financial position has remained strong and free cash flow improved significantly against the prior year. Meanwhile our research and development team continues to deliver the new products required to meet the ever increasing demands of our customers. "We believe Alent has a strong foundation from which to grow. The long term drivers for this business are unchanged. We are confident of delivering further sustainable NSV and margin improvement from underlying market growth, improved product mix, focus on our OEM strategy and new product pipeline."

StockMarketWire.com
Alent's trading for the third quarter was slightly below its expectations due to the softer than anticipated demand in consumer electronics end-markets. Net sales value (NSV) in Q3 2013 was £105.6m (Q3 2012: £101.7m), an increase of 3.8% (flat on a constant currency basis), and broadly in line with Q2 2013.

NSV for the first nine months of the year was £314.8m, (first nine months of 2012: £312.4m) an increase of 0.8% (down 2.3% on a constant currency basis). NSV margin progressed in Q3 2013 versus H1 2013.

Looking ahead, the group says: "Visibility remains limited with end-markets showing more muted seasonal pick-up in consumer electronics demand. Assuming current foreign exchange rates, we now expect our full year NSV to be around the same levels as 2012 with slightly unfavourable product mix.

"The fundamental drivers for the business are unchanged. We have a strong foundation, including robust pricing discipline and cost and efficiency improvements, from which to deliver sustainableNSV and margin improvement from our four pillars of underlying market growth, improving product mix, focus on our OEM strategy and the development of our new product pipeline."

http://www.moneyam.com/action/news/showArticle?id=4700289

StockMarketWire.com
Alent posts adjusted operating profits of £94.1m for the year to the end of December - down from £97.2m last time.

Net sales value rose to £420.1m from £416.7m but margings fell to 22.4% from 23.3%.

Statutory pre-tax profits rose to £77.7m from £73.2n and the full year dividend of 8.60p per share is up from 8.25p.

Chief executive Steve Corbett said: "This is a solid performance in a challenging trading environment for Alent in its first year as a standalone company. We have largely maintained or increased our market share in most product lines, with NSV broadly flat, demonstrating our ability to outperform the majority of our end-markets which saw a general decline in 2013.

"This resilience has been underpinned by our focus on high unit count applications which drive demand for our products. Our strong relationships with OEMs, continued R&D investment to support innovation and the production of higher margin products remain key to our strategy. This coupled with our global footprint, strong cost control, price stability and financial strength will continue to drive the future performance of our business."

INTERIM MANAGEMENT STATEMENT
Ahead of its Annual General Meeting later today, Alent plc, a leading supplier of highly engineered and customised specialty chemicals and materials, issues its Interim Management Statement for the period since 1 January 2014.

TRADING
Trading since the start of the year has been in line with our expectations. We have seen a slight increase in demand across our principle electronics and automotive end-markets, driven by growth in automotive unit volumes and improving global consumer confidence, assisting electronics demand.

On a constant currency basis, Net Sales Value (NSV) increased 3.7% to £98.9 million. Adverse currency translation of 6.5% meant that on a reported basis, NSV was 3% lower than the prior year (Q1 2013: £101.8 million). NSV margin has improved slightly over Q1 2013, primarily due to favourable mix.

In Assembly Materials, NSV increased to £48.1 million, up 3.7% on a constant currency basis. Our core solder paste business performed well with further growth in both volumes and margins. Our recycling business continued to be affected by lower metal prices and tighter supplies of scrap feed stocks.

In Surface Chemistries, NSV increased to £50.8 million, up 3.7% on a constant currency basis. Copper damascene NSV increased by 3.8% on a constant currency basis, as production at the 28nm and 20nm advanced nodes ramps up. The Q2 copper damascene order book shows encouraging trends.

FINANCIAL POSITION
Our financial position remains strong. Working capital trends have reflected normal seasonality with a build-up of working capital expected in the first half of the year and a corresponding reduction in the second half. Net debt at 31 March 2014 was £111.0 million, compared to £96.5 million at 31 December 2013. We remain on track with our previously announced restructuring initiatives.

OUTLOOK
Our expectations for 2014 remain unchanged from our full year results announcement in March. While foreign exchange translation will continue to be a headwind at current rates, we expect our normal seasonal improvement in the second half of the year. Whilst visibility is limited, we anticipate growth in the automotive end-market to continue. The electronics end-market has had a good start to the year, and although it is harder to predict how the industry will develop, the steadily improving economic environment is expected to lead to a modest increase in demand for consumer electronics.

Alent will host a Capital Markets Day on 21st May 2014 and announce its Interim Results on 4th August 2014.

INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2014

§ Modest improvement in key markets, underpinned by early signs of improved global consumer confidence

§ Growth in NSV (at constant currency rates), reflecting continued outperformance against principal markets

§ Strong growth in adjusted operating profit and NSV margin

§ Continued solid cash generation with net debt/EBITDA ratio of 1x

§ Interim dividend of 3.0 pence per share; equivalent to 35% of 2013 full year dividend

§ Special dividend of 15.0 pence per share; equivalent to c£42m

Commenting on the Group's results, Steve Corbett, Chief Executive said:
"These results demonstrate our ability to consistently outperform our principal markets. We have seen a modest pickup in the electronics, automotive and industrial markets. The semiconductor market has strengthened, driving demand for copper damascene and wafer start related products whilst demand for assembly materials and printed circuit board fabrication was modest, albeit stronger than in 2013. A combination of top line growth, further progress in improving our mix to higher margin products and an improved copper damascene contribution, have enabled us to grow adjusted operating profit by 8.1% and increase NSV margin by 1.0pts, at constant currency rates.

"Continued solid cash generation has underpinned the Board's decision to return an additional c£42m to shareholders through a special dividend. This is in line with our commitment to maintain a capital structure that is both efficient and balanced between investment for growth and returns to shareholders. We will continue to look for and evaluate acquisitions in line with our strategy.

"Looking ahead, we are confident that our global market leadership, strong OEM relationships, global technical service presence and fast cycle R&D will enable us to deliver long-term growth and sustainable margin improvement."

OUTLOOK
Trading for the first half of the year has been in line with our expectations. Foreign exchange translation remains a headwind. If 30 June 2014 spot rates were to continue through the remainder of 2014, we would expect a negative currency impact of c£28m on 2013 NSV and c£8m on 2013 adjusted operating profit. We expect our normal seasonal improvement in the second half of the year. Whilst visibility is limited, we anticipate growth in the automotive market to continue. Although the electronics market is harder to predict, the improving economic environment and anticipated new OEM product launches are expected to lead to a modest full year increase in demand for consumer electronics. Our expectations for 2014 remain unchanged from our Q1 IMS announced on 19 May.

http://www.moneyam.com/action/news/showArticle?id=4861742

Ex-divi (incl special) mon 29th Sept (15p)

INTERIM MANAGEMENT STATEMENT
Alent plc, a global supplier of highly engineered and customised specialty chemicals and materials, today issues its Interim Management Statement for the period from 1 July 2014 to 5 November 2014.

TRADING
Trading in the period has been broadly in line with our expectations. We have seen a sequential increase in demand across our principal electronics and automotive end-markets.

At Group level, Net Sales Value (NSV) at constant currency increased 5.5% in Q3 2014. Adverse currency translation of 6.7% meant that NSV was 1.2% lower on a reported basis at £104.3m (Q3 2013: £105.6m). NSV margin increased in Q3 2014 versus H1 2014. These solid results demonstrate our ongoing ability to consistently outperform our principal end-markets. Across the majority of our market segments, pricing remained stable with our market share largely maintained or increased as we continued to benefit from our OEM marketing and selling strategy.

On a divisional basis, Assembly Materials NSV increased 5.0% on a constant currency basis, with a decrease of 0.4% on a reported basis, to £51.8m (Q3 2013: £52.0m). In line with our expectations, this was supported by a modest pickup in the electronics market as a result of new OEM product launches as we progressed through the period. Year-on-year solid margin growth in Surface Mount Assembly, particularly in solder paste, more than offset continued bar volume decline, a lower contribution from our recycling business due to lower metal prices and a general economic slowdown in South America.

In Surface Chemistries, NSV increased 6.0% on a constant currency basis, with a decrease of 2.1% on a reported basis, to £52.5m (Q3 2013: £53.6m). We continued to make solid progress in our Performance Coatings segment as automotive and industrial markets experienced a modest pickup in the period. Copper damascene performed in line with our expectations driven by the continued ramp up at the leading edge nodes.

FINANCIAL POSITION
Our financial position remains strong. Net debt at 30 September 2014 was £97.2m, compared to £102.3m at 30 June 2014. Working capital increased as planned during the period as we continued to support manufacturing relocation and plant start-ups, principally within Europe and Asia. We expect the majority of the working capital build from supporting manufacturing relocation and plant start-ups to unwind by the end of the year.

In line with our commitment to maintain a capital structure that is both efficient and balanced between investment for growth and returns to shareholders, we returned £42m to shareholders in the form of a special dividend, in addition to the interim dividend of £8.4m, with both paid on 17 October 2014.

In order to maintain our financial flexibility, we successfully completed the re-financing of our existing syndicated bank facility with a group of eight relationship banks. The size of the facility remains unchanged at £300m, with the term of the facility being extended by a further two years to 21 September 2019.

We remain on track with our previously announced restructuring initiatives in Europe, Asia and Brazil.

OUTLOOK
Electronics market industry forecasters are predicting global electronics growth of 2.4% for the full year 2014. Similarly, the automotive market is expected to show modest global growth, both in units and electronic content.

Consequently, our expectations for 2014 remain unchanged from our Interim Results announcement in August. Looking ahead, we are confident that our global market leadership, strong OEM relationships, global technical service presence and fast cycle R&D will enable us to deliver long-term growth and sustainable margin improvement through continued outperformance of our principal end-markets.