Nord Anglia Education Share Discussion Threads

[rod aries] 19/9/2008 19:57

Any more inside info sean?

[mryesyes] 10/6/2008 12:44

Too quick a no means and the unusual statement by the PE co they would pay more means this will go hostile.
Should spike again. I think selling or mm markdown is because for some holders this is the only profit they have seen flash up for some time
But look at all the buy activity yesterday. Vitrtually no sellers except small private sellers desperate to take a profit on something for a change.
To be honest the company could have stucj with nurseries, but the overseas expansion has made them interesting in the current climate.
The PE co may need to keep the directors on the payroll to get this for under £5 but they are good at making their lives a misery afterwards and constructively dismissing them or threatening to ruin their future standings; but the current board won't be aware of this?

[sruk77] 10/6/2008 09:31

A 10% premium on 450 may temp the board to reconsider the take-over.

[u813061] 09/6/2008 09:28

I think 450p is a fair price. If it isn't the company should raise more funds and be more aggressive with its overseas scholl expansion.

[u813061] 29/4/2008 10:23

Interim Results out today which were pretty good. Share price up. Lots of potential to develop more inernational schools in China, Malaysia and the Middle East. Active instutiotions on the shareholder register to ensure that the company delivers.

[topvest] 06/1/2008 17:08

Remember holding these about 10 years ago and they haven't really progressed in all that time. With net assets of about £5m and Adjusted EPS last year of 9p more downside than upside given their mixed record of making at least as many mistakes as successes.

[amedin] 14/11/2007 16:33

No, the market already knew about the profits but expected the cash proceeds to remain in China. Repatriating the funds incurs an additional tax charge.

[martinc] 14/11/2007 16:21

I read that bit but don't really understand it. Is it saying that there's an extra 17% tax to be paid on Chinese profits that nobody had hitherto been aware of?

[amedin] 14/11/2007 14:45

Apparently the problem is to do with the unexpected repatriation of cash from China.

The company is to be taxed on this and impact passed through the P&L (effective tax charge increases from c23% to c33%). As this was unexpected there have been quite large downgrades for this year and next (c-20% both years).

I attach the relevant paragraph form the results:

"The tax charge for continuing activities before exceptional items in 2006/7 was
£2.3m representing an effective rate of 37% compared with a rate of 16% for the
prior year. The principal reason for the increased tax rate was the utilisation
of UK tax losses to help minimise the cash tax payment to £1.0m for the year.
During the year the Company repatriated all earnings from the Chinese schools
business from the start of trading in September 2002 to December 2006.
Additional UK corporation tax would normally be payable on this dividend at a
rate of 17%. The Group utilised its deferred tax asset to shelter this UK
corporation tax liability. The deferred tax asset was in respect of losses
suffering a 30% tax rate and therefore has been released at the same rate. The
Company decided that the cash benefit in reducing its tax payment outweighed the
benefit of carrying the deferred tax asset forward."

[martinc] 14/11/2007 12:30

Strip out all the exceptionals and I don't think it's too bad.. though still pricing in quite a bit of growth I think.

[gorilla36] 14/11/2007 10:04

Mmmmm - results went down well then.

[chester] 05/6/2007 11:39

Excellent news this morning . Breakout can't be far away.

[martinc] 21/5/2007 14:05

There's a pdf presentation on their website:

[mryesyes] 21/4/2007 23:39

Worried the investments in China fuelled the rise

[hectorp] 07/3/2007 09:51

NAE seems a reasonable core holding in a diversified portfolio. Not badly hit by the recent share fallout . Considerable growth going forward.
On close watch. !

[oniabsta] 15/1/2007 08:55

I understand what you say about the p/e but it seems to me that a p/e for 2007 of 17.3 dropping dramatically to 12.5 for 2008 shows substantial growth if earnings are met.I personally don't think it to heady at all.

My intention is to keep these and build up my stake over the long term.Companies with these prospects are hard to find.

I don't normally go to AGM's but this time i will, i'm hoping to get a better feel for the company and its future.If i like what i see & hear that will give me further confidence.

[martinc] 14/1/2007 19:48

I bought back in May.. How far do you see it going, oniabsta?
The forecasts are good, but the PE is getting a bit heady. I don't see any particular reason to sell, but I might sell some of my holding in a while.

[oniabsta] 13/1/2007 11:56

LOL - Thanks martinc :-)

[martinc] 12/1/2007 22:19

I'm reading it!

[oniabsta] 12/1/2007 20:12

It's obvious to me that i am flogging a dead horse on this thread.
What a fantastic company and no following!

[oniabsta] 12/1/2007 10:54

I'm now definately going to the AGM. I've booked into a hotel in Manchester for a couple of nights, might as well have a look around and take the wife shopping.
Anyone any suggestions of "must see/don't miss...." ?