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AMT Amstrad

149.50
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Amstrad LSE:AMT London Ordinary Share GB0000953850 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 149.50 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Amstrad Share Discussion Threads

Showing 3726 to 3748 of 4025 messages
Chat Pages: 161  160  159  158  157  156  155  154  153  152  151  150  Older
DateSubjectAuthorDiscuss
04/6/2007
10:17
Joined you all with 5k
cambium
04/6/2007
10:12
jt you have email
brown trousers
04/6/2007
08:28
News on profit upgrade and market forecast at PIC should be good for AMT.
weatherman
03/6/2007
22:15
I shall look out for the PIC trading update tomorrow darrin.
jtcod
03/6/2007
15:42
JTCod: I am happy to work together on AMT. I follow stbs and their customers as this is an exciting area to be in as the internet and television merge. There are a lot of big companies fighting to supply the technology and the content to consumers all over the world.
I hope you have the time to look deeper into AMT and maybe PIC in order to see the potential of both companies and why the difference in market cap can be justified and in my opinion, likely to grow.

"every financial fact says that AMT should be valued on a higher market cap than PIC" Based upon recent historical results, dividends and balance sheet. Yes AMT should have a higher mkt cap than PIC.
PIC's "fwd earnings are lower than AMT". That is what the brokers are saying, but their figures are wrong. PIC are issuing a year end trading statement tomorrow in which turnover will be revealed to be considerably above the £340m-£360m forecast. My guess is £425m but I would be happy with £400m and it could be over £450m. My figures would require a broker upgrade. If the brokers are correct then I will shut up and do better research next time.
PIC profits will not match turnover this year because of low gross margins on new high volume products. PIC expect to rectify this during the 7 month financial year ending Dec 2007 and reap the full benefits during 2008. Their target is gross margins above 20%. If PIC achieve this and maintain turnover above £400m then 2008 profits start at £30m and 22% on £450m would result in £50m profits. With the best customer portfolio for pay-TV stbs in the world PIC warrants a higher p/e ratio based on growth opportunities and as a potential takeover target.

Another few areas of concern I have for AMT, but have not looked into fully are:
Service revenues from the emailer appear to contribute around 30% of the profits to AMT through Amserve. These revenues dropped 20% in the last six months. This trend is likely to continue.
Amstrad international products appear to be all audio CD based. Surely this also has to be a shrinking business.

Possible import duties on advanced stbs could hit AMT harder and erode their enviable gross margins as Pace and Thomson both have EU manufacturing capacity unlike AMT.

darrin1471
03/6/2007
14:37
sue
I doubt it in the short term. Possibly in another 24 months perhaps, if the HD-PVR product goes well.

I do think that, business allowing, AMT will continue to pay reasonable dividends because it is so tax efficient for the Sugar family. Alan Sugar's shareholding in AMT is held via Amshold Ltd in Jersey. His holding company. The channel islands announced last year that corporation tax would reduce to zero. That means that AMT pay the automatic 10 % tax to the UK government on the dividends, the cash transfers to the Channel Islands and the rest is tax free.

jtcod
03/6/2007
12:00
Is there a chance of another big payout,like the last one
sue sexy
03/6/2007
11:02
JTCod - 1 Jun'07 - 16:31 - 444 of 445


Makes me laugh.

AMT
Last 4 years shareholders assets improvement +132.7 %
Reported Earnings (including exceptional items) for last 5 years £53.3m
Concensus earnings for 2008 £19m

Market Cap net of £28m Cash = £85m


PIC
Last 4 years shareholders assets depletion (-59 %)
Reported Earnings (including exceptional items) for last 5 years (£94m loss)
Concensus earnings for 2008 £15m

Market Cap net including add back of £6m debt = £218m

Even if we ignore the exceptional items, PIC still hasn't made 1 penny profit for their shareholders over the last 5 years.

lol


spob - 3 Jun'07 - 10:35 - 445 of 445


Amstrad Fundamentals

Year Ending Revenue (£m) Pre-tax (£m) EPS P/E PEG EPS Grth. Div Yield
30-Jun-02 a40.20 a(1.78) 3.70p 9.3 n/a -30% 2.30p 6.7%
30-Jun-03 a43.85 a3.79 3.70p 22.8 n/a n/a 3.00p 3.6%
30-Jun-04 a57.37 a15.64 14.60p 14.9 0.1 +295% 5.00p 2.3%
30-Jun-05 101.51 19.60 17.20p 8.1 0.5 +18% 4.50p 3.2%
30-Jun-06 91.65 20.21 18.40p 10.1 1.4 +7% 6.50p 3.5%

a. Based on UK GAAP presentation of accounts - includes discontinued activities

Amstrad Forecasts

Year Ending Revenue (£m) Pre-tax (£m) EPS P/E PEG EPS Grth. Div Yield
30-Jun-07 70.20 14.85 12.53p 11.0 n/a -32% 7.00p 5.2%
30-Jun-08 87.00 20.76 17.51p 7.9 0.2 +40% 7.50p 5.5%

thetworonnies
03/6/2007
09:42
Agree with you ref the financial standing of AMT JTCod, but how much better could it be for AMT [and the share price of course!] if he was NOT big egoing it on telly all the time?!?!?
thetworonnies
03/6/2007
09:35
Amstrad Fundamentals

Year Ending Revenue (£m) Pre-tax (£m) EPS P/E PEG EPS Grth. Div Yield
30-Jun-02 a40.20 a(1.78) 3.70p 9.3 n/a -30% 2.30p 6.7%
30-Jun-03 a43.85 a3.79 3.70p 22.8 n/a n/a 3.00p 3.6%
30-Jun-04 a57.37 a15.64 14.60p 14.9 0.1 +295% 5.00p 2.3%
30-Jun-05 101.51 19.60 17.20p 8.1 0.5 +18% 4.50p 3.2%
30-Jun-06 91.65 20.21 18.40p 10.1 1.4 +7% 6.50p 3.5%

a. Based on UK GAAP presentation of accounts - includes discontinued activities

Amstrad Forecasts

Year Ending Revenue (£m) Pre-tax (£m) EPS P/E PEG EPS Grth. Div Yield
30-Jun-07 70.20 14.85 12.53p 11.0 n/a -32% 7.00p 5.2%
30-Jun-08 87.00 20.76 17.51p 7.9 0.2 +40% 7.50p 5.5%

spob
03/6/2007
09:33
To be honest I would also prefer he was not on TV TTR but the financial standing of AMT is sound imo. He just paid out a special dividend equal to 23 % of the current share price and still has another 24 % of the share price in cash, which isn't bad.
jtcod
03/6/2007
09:25
Yes most probably, but Sugar with all his ego lead telly cr*p has not helped AMT JTCod. Indeed Sugar has hindered matters. Sugar should in future just stick to running the business IMHO!
thetworonnies
03/6/2007
09:19
TTR
Looking at what has been achieved particularly in the last 3 years with AMT, I would say it is not Mr Sugar who is in the wrong, it is the market that is behind the curve on valuation.

Darrin
Everyone is entitled to their opinion but it seems to me your last post is essentially saying "I know every financial fact says that AMT should be valued on a higher market cap than PIC and I know the fwd earnings are lower than AMT but sometime in the future PIC will make a decent profit". Each to their own but my approach is to invest on facts not market sentiment.

jtcod
02/6/2007
16:05
melfaraj - 2 Jun'07 - 11:52 - 3236 of 3238


amt,

has or about to bottom up. this stock can rise sky high given the right circumstances as it has demonstrated in the past!
support furhter down are at 120, 125 and 130

up over 2% on friday



Looks as though mel from the FAR6 thread has become bullish on AMT....

thetworonnies
02/6/2007
15:05
IMHO the AMT share price would be standing a lot higher if Sir Alan actually gave a toss, gave up his massive ego, got off the telly and professionally ran the PLC business in a focused way. End of rant!
thetworonnies
02/6/2007
14:36
I doubt Katie has much chance, given that she already commands a 90k salary.

She's to smart to be Sir Alan's App' imo.

I enjoy watching her on the box though. Her one on one summations, direct to camera make me split my sides. She's a true snob.

spob
02/6/2007
14:06
Brilliant comparison. I'm sticking with Sir Alan PROVIDING he doesn't hire Katie as the apprentice.
bonnard
02/6/2007
13:59
I do not hold shares or short AMT. I do hold PIC. I expect AMT to double within 12-24 months but it may fall further before recovery.
JTCod: You know better than most that investor value is not the only way to value a share. Twelve months ago Pace's market cap was £115m. An 80% rise in share price negates any concerns I have about asset depletion.
12 months ago AMT net market cap was close to what it is now yet this did not result in a positive revaluation. AMT's share price has been closely linked to its contracts with Sky and Sky Italia and this is likely to continue in the immediate future.
PIC's valuation and rising share price is based upon the new contracts it is winning with Pay-TV especially in the US. PIC has prioritised gross margins over the next few years and if they succeed then they will have a lower forward p/e than AMT.
AMT has very high gross margins on Sky stbs but has not got a history of producing cutting edge products like MPEG4 stbs. Can AMT continue to win business from Sky and achieve the same high gross margins?

darrin1471
02/6/2007
09:49
Just been looking at ALBA (ABA) also and their Concensus earnings for 2008 is just £11m and yet the Market Cap including add back of £80m debt = £170m, exactly twice that of Amstrad.

Seems to me that either PIC and ABA are way too high or AMT is way too low.

jtcod
02/6/2007
06:49
Hope the others don't mind but to avoid all those charts at the start of the other thread, I'm going to post here in future.

Comparison posted on other thread yesterday:

AMT
Last 4 years shareholders assets improvement +132.7 %
Reported Earnings (including exceptional items) for last 5 years £53.3m
Concensus earnings for 2008 £19m

Market Cap net of £28m Cash = £85m


PIC
Last 4 years shareholders assets depletion (-59 %)
Reported Earnings (including exceptional items) for last 5 years (£94m loss)
Concensus earnings for 2008 £15m

Market Cap net including add back of £6m debt = £218m

Even if we ignore the exceptional items, PIC still hasn't made 1 penny profit for their shareholders over the last 5 years.

jtcod
01/6/2007
15:31
Makes me laugh.

AMT
Last 4 years shareholders assets improvement +132.7 %
Reported Earnings (including exceptional items) for last 5 years £53.3m
Concensus earnings for 2008 £19m

Market Cap net of £28m Cash = £85m


PIC
Last 4 years shareholders assets depletion (-59 %)
Reported Earnings (including exceptional items) for last 5 years (£94m loss)
Concensus earnings for 2008 £15m

Market Cap net including add back of £6m debt = £218m

Even if we ignore the exceptional items, PIC still hasn't made 1 penny profit for their shareholders over the last 5 years.

lol

jtcod
01/6/2007
12:32
There are two product launches, not one.
HD sales are already significant but mainly due to falling prices and the aesthetics of a flat screen. I would not expect the Olympics to have significant effect on sales of HD.
The Chinese government will not want a Chinese caused stockmarket crash before the Olympics that is designed to show off the 'New China'. A bigger bubble will cause a bigger bang. This would affect all shares.
I have several friends who have bought HD ready TVs, yet none of them have an HD stb. If typical this leaves a nice big upgrade market for the stb suppliers.

darrin1471
01/6/2007
12:17
pe for 2007/8 is around 18p. The new fin. year starts in 4 weeks time.
weatherman
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