Makes drill bits etc for oil and mineral mining. Manufacturers in 5 countries.
Based in Ireland on the Irish exchange and aim UK.
Dividend 4.8%.
€0.021 same for last 5 years. According to Hargreaves Lansdown the dividend is covered 167 times?
Also from Hargreaves p/e 0.12. Both I expect are wrong.
50% fall in profits 2024
Sell:
34.00p
Buy:
38.00p

From there site
"Mincon Group plc is a global engineering business specialising in the design, development, manufacture, and service of rock drilling tools for a variety of applications. Originally founded in 1977 in Shannon, Ireland, it now has a worldwide presence, with customer service centres and factories across the Americas; Europe and Middle East; Africa, and Asia Pacific."

At a guess easily worth a £1 a share to private equity.

56% owned by family which explains the price!

But

"Mincon Group PLC (AIM:MCON), the Irish engineering group specialising in rock drilling tools and associated products, is in demand.

Its shares are up 4.79% to 98.5p after it reported a 25% rise in nine month revenues, helped by currency tailwinds, price increases and some contribution from acquisitions.

It said the construction industry experienced the highest level of growth, although there was also double digit growth in mining revenue, its largest industry.

Despite price increases being offset to some extent by higher energy prices in its factories, it is optimistic it can improve margins in the second half.

It recently started commercial drilling of its new Greenhammer system with a customer in a large gold mine in Western Australia.

Chief executive Joe Purcell said: "Mincon has managed to negotiate a challenging market environment and achieve further growth in the third quarter. In addition, the first commercial drilling with our Greenhammer system with a customer in Australia marks another significant milestone, and I look forward to the system demonstrating its superior capabilities in the months ahead. We are confident that the Greenhammer system will be a step change in terms of technology and efficiency in the hard rock mining environment."

The above from June 2022

https://www.proactiveinv...ling-system-996956.html

I suspect a more accurate view of dividend coverage from fidelity.

% of earnings paid to shareholders data table
Year Payout ratio (%)
2024 280.00
2023 34.20
2022 31.02
2021 47.58
2020 12.04
2019 61.04
2018 39.12
2017 40.98
2016 52.74
2015 45.50