||EPS - Basic
||Market Cap (m)
|Software & Computer Services
Real-Time news about Ascribe (London Stock Exchange): 0 recent articles
Cenkos have been on the offer for ages, and almost certainly had the seller, which has been holding the price back.
I was tempted to buy some more yesterday when the price nudged better on little volume.
When a share price breaks into new high ground, it is difficult to know when to get off, especially as the historic rating looks full. But what is the prospective rating?
There is obviously a story going round, unless a few momentum traders/chartists have picked up on it.
I've got a nice profit, but want to maximise it, so I think I will hold for the time being.
|currypasty: Buy Ascribe at 36p
A tip from Techinvest Newsletter
Back in 2001, The Audit Commission published a report entitled "A Spoonful of Sugar". In this it said there was potentially up to 1,200 lives and 500 million pounds a year that could be saved by UK hospitals if they used clinical information systems to reduce patient medication errors. Similar such reports in the US showed that the problem certainly wasn't localised in the UK . In 2004, another study issued by Liverpool University said that UK citizens were more likely to die from a "medical misadventure" than from a road traffic accident. Fairly sobering reading which the Government took to heart. It has since issued hospitals with targets to reduce the number of medication errors that occur.
As a result, demand for clinical management systems has boomed. This is an area that Ascribe has focused on since it was established back 1984 (then called ASC Computer Software) by Chairman and Pharmacist Stephen Critchlow and Dr Chris Jones. They originally developed software to overcome the difficulties they were having handling clinical information while working for the NHS.
The Company was floated on AIM in December 2004 in order to raise funds to acquire Protechnic Exeter, a health IT Company which supplied primary care trusts and GPs with community and child health systems. Since then, Ascribe has gone from strength to strength, which hasn't been adequately reflected in the share price - 32p compared with an IPO price of 18p. Recent weakness in the stock market has given subscribers a chance to get on board.
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A January 2002 Silicon Bridge Research report estimated that over 40% of the UK Secondary Care market used an Ascribe system, making it the then largest supplier of pharmacy software. Since then, Ascribe has won over 90% of the public tenders it has competed for in the UK . It has also sold systems in Australia , New Zealand , Malaysia and Hong Kong . Originally there were four main Ascribe products, which could be used alone or in combination to provide an appropriate medicines management solution: Pharmacy, used to assist hospital pharmacies to dispense medicine and includes stock control, labelling, drug level monitoring and drug utilisation reporting; Electronic Prescribing, used by doctors to send prescriptions directly to dispensing pharmacies; Clinical Decision Support, used by medical staff to check prescriptions with reference to the condition of a particular patient; Integrated Clinical Workstation, a system capable of integrating legacy systems to offer clinicians a single clinical view, a solution suggested in The Audit Commission report.
Ascribe floated on AIM to finance its first acquisition, but it certainly hasn't stopped there. In the intervening period it has completed a further six, taking it into complementary areas while at the same time enhancing earnings. In May 2005 it moved into A&E when it acquired Footman Walker, a leading supplier of A&E information systems in the UK with a 30% market share. A month later, Ascribe took over Park Systems, the largest independent supplier of retail pharmacy computer systems in the UK . At the same time it bought Archive, a supplier of software to Protechnic Exeter. Barwick Systems was added in March this year. It supplies Patient Administration Systems (PAS) to NHS hospitals. Many also use Ascribe's Pharmacy or A&E systems.
In May, Ascribe broadened its geographic reach acquiring the health division of private New Zealand-company Jade Software. This gave it greater expertise in mental health and more Australasian sales: Jade provides IT solutions to 24 hospitals and health organisations. A month later Ascribe acquired HE Information Systems (HEIS), another supplier of PAS to 21 NHS hospitals for up to 6.5 million pounds. As with Barwick Systems, many of HEIS's clients also use Ascribe's Pharmacy or A&E systems. In the year ended 31 March 2005 , HEIS made a pre-tax profit of 0.52 million pounds from turnover of 2.5 million pounds and will enhance earnings in its first year of ownership.
A record result was achieved for the year ended June 30 as sales surged 85% to 9.9 million pounds. The three recent acquisitions contributed 0.93 million pounds. Recurring maintenance revenue accounted for 62% of sales. Profit before tax and goodwill amortisation was 2 million pounds, compared with 0.8 million pounds last time. This gave earnings per share of 1.59p (0.64p). Cash inflow from operations was 2.4 million pounds, which easily covering reported operating profit. Net debt after the acquisitions was 0.52 million pounds. With sales underpinned by the high proportion of recurring revenue, Ascribe is a high growth stock with little downside risk. Two directors gave a vote of confidence in June when they added to their holdings. Follow their lead. Buy.
Techinvest is the one of the few investment newsletters with years of experience in successfully helping investors make money from the tech sector of the London Stockmarket.|
|double6: IMHO Wouldnt be surprised to see sharp movement in share price even though a lower bid has been offered - it ain;t over yet....|
|hugepants: Somethings cooking chaps. Either that or someones jsut bought 200 pounds worth of stock. Maybe we'll get a statement re: share price movement.|
|hugepants: 2M sold so far today. Usually this would knock 40% off the share price. I wonder if the MMs are happy to accumulate stock at 0.1p now?|
|bungeetrader: Not much time left now. Not expecting any earth-shattering news there but their cash balance could prove interesting. The interims 0n 27/9 stated they expected to have £1m cash after all had been done and dusted which equates to 0.34p with 292m shares in issue, against a current share price of 0.105p???????|
|nutsyboy: I don't flatter myself that my purchase had any effect on the share price, although I have seen the snowball effect before. One person buys and someone else buys because the previous person bought and so on. This inevitably pushes the price up for no real reason and MMs are happy enough to go along with it. CARE NEEDED IMHO.|
|simonevans: Good fun this one. I've just bought £500 worth or over 350,000 shares and the share price shoots-up to the top of the leader board! I think that Corporate Synergy and Daniel Stewart are probably working on a Reverse Takeover. Given that Daniel Stewart were appointed in October there may not be long to wait; within a month? The chart also looks ok with support at .1p and as communicated above the cash pile is probably way in excess of the current share price. The commission income also covers their costs and so, all in all, could be interesting. High risk though so please DYOR!|
|hugepants: Just bought 500K and put 10% on the share price. Someone buy another 500K just to see what happens. Spread some festive cheer.|
|alecjm: barts, .034p is the cash value , asset value is @ £2.25 Million, that gives us a share price of @ 1p....so is this price a tad low..?????|
Ascribe share price data is direct from the London Stock Exchange