Broadcastle Share Discussion Threads

[churchtower] 03/10/2003 13:27

Threatening to break out to higher ground for the third time since 5/8/03. 0.25p below previous resistance levels. CH.

[vector] 27/9/2003 00:05

Although a good share I think it will fall back with the market as there is nothing new to push it to new high ground. Have sold a slice of my holding on this assumption

[dumpling] 26/9/2003 15:47

I sold all my PHP on similar reasoning Vector. However, I am holding on to BCS as I can't see them dropping more than 1 or 2 P. I believe they are still undervalued. Anticipate breakthrough 70P early next year if not sooner.

[hamilkar] 15/9/2003 09:45

Breaking out - now 68.25 - 4 year high. Worth a look DYOR, as rise should take it to 78. H.

[hamilkar] 09/9/2003 15:06

Now challenging all time high of 68 - worth a look. See also my article on 31.7.03 and potential rise to 78. H.

[hamilkar] 03/9/2003 07:33

Goes Ex - Dividend today H.

[hamilkar] 21/8/2003 00:57

Good buying opportunity - moving upwards again - off the bottom support trendline of a standard error channel going back to 8/01/03. As a result I further increased my holding this morning. Remember goes ex-divd beginning of September - 1.6p.

[rivaldo] 19/8/2003 11:16

Well, it wasn't very interesting!

I sold yesterday morning, and I gather that Mr Frequenttrader did too. Just a bit bored with it really. No problems with it - I think it's a good company, and if it retraces I may be back in, but other companies look more attractive short-term at present, so I took a nice profit and ran.

Good luck washbrook et al.

[rivaldo] 10/8/2003 22:09

Robbie Burns gave BCS a big write-up in today's Sunday Times, with a target price of 80p. Tomorrow could be interesting.

[rivaldo] 07/8/2003 10:07

Sorry Vector, this was a rushed conversation so couldn't get into detail.

[vector] 07/8/2003 08:56

Rivaldo - Thanks for ringing to find out about this. Should have done that myself. Am I right in thinking that we are looking at the run off of existing contracts within their normal contarctual terms? Was there any indication of how much was overdue?

[rivaldo] 06/8/2003 14:37

Cool hand - nothing!

Vector - you inspired me to find out, as this issue had completely slipped my mind. I phoned BCS and was told that the the £2.6m is now only £2.2m, that this will continue to reduce as time goes by and that it should not be a problem.

So, more good news. Thanks for raising the point vector.

[cool hand kev] 06/8/2003 10:12

whats the afx got to do with broadcastle ?

[hamilkar] 06/8/2003 09:24

Vector - I presume you hold this stock. Can I suggest you ring Fiona Morris CE & CS at Broadcastle on 0161 266 1008 and ask her to clarify the situation.

[vector] 06/8/2003 09:16

In the Business Review of last year's annual report it was highlighted that BCS still had £2.6m of receivables to collect from the discontinued consumer car business and that " considerable efforts were being directed to minimise this run off". I find it strange that such a significant item was not mentioned in the interims. Anyone have any comments?

[rivaldo] 04/8/2003 11:42

Nicely moving up again, and only on a forecast P/E for 2004 of around 9.5.

There's still a supply of shares coming through, possibly from one of the sources named by Ben Franklin earlier in the thread, but it's not proving enough to stem the increase in interest in BCS, and must surely be about to abate as it doesn't seem to be coming from RNS'able holders.

The director buy post-results will have helped sentiment of course.

[cool hand kev] 01/8/2003 15:12

Hello just bought in Hopefully Robbie Burns will give these a bit of a write up in the Sunday Times.

[diogenesj] 01/8/2003 11:11

Dumpling: the results were actually slightly worse than expected. The CEO pointed out that sales had been slightly below budget, although he seemed hopeful that the shortfall could be made up in the full year. The 6.67% increase in the dividend (against 7.95% forecast for the full year) is a sign of caution, I think.

Nevertheless, the shares still seem good value, even if they don't quite make the forecast, and the yield is pretty good, even if it may turn out to be a little less than we were hoping for. The fact that a director bought after the results was also mildly encouraging, I thought. I hear that Robbie Burns ('Frequent Trader') has also bought some, although we shouldn't attach too much significance to that. :-)

[rivaldo] 01/8/2003 09:19

Up again today - 2.5p to 67p.

And more news - Robbie Burns from the Sunday Times has bought in to BCS. That should guarantee more interest. Here's what he says:



"I bought Broadcastle (BCS) - 8,000 shares for 62p. SL 56p Tar 74p. I'd made a few quid on this one before and it had not moved for two months but I simply kept watching it.

I noticed yesterday lunchtime that it was starting to move up and I remembered it often produces results in August and I figures the price might move up more in the run-up to results. So I bought 8,000 for the ISA and 6,500 for the pension at 62p.

Low and behold, the company released an excellent set of results this morning and the shares are moving up, so really, I was quite lucky in my timing.

The news is pretty good about this specialty finance company and the shares look like they have a good chance of another 20% rise - there is also a nice dividend which gets paid out in September.

The other thing I like about it is the company's business looks secure so it's not a share that's going to go down much."

[dumpling] 01/8/2003 00:41

The results and future prospects are no better or worse than expected. As such I think the shares will struggle to reach 70P but well worth holding at present for the divi. If the country slides into recession as a delayed result of this government's prolificacy then this company will be badly affected. I agree with you Washbrook that the FTSE could fall steeply again - I have a short on SGE.

[rivaldo] 31/7/2003 15:23

RNS just out - the directors have faith.

Paul Vaight (non-exec) has bought 35,022 shares at 64.5p, taking his total to 119,455.

I'd say £22,589 is a fair amount to commit - enough to persuade me this share may be about to go for a bit of a jog.

[hamilkar] 31/7/2003 11:17

Thank you Rivaldo - a total surprise to me as well to see the interims announced today. Nevertheless a very satsfactory result and I now consider this to be a strong hold and a strong buy on any weakness. I would expect the price to hesitate at around the 62/64 level until those who recall the high of 63 on 30th August last year and now wish to sell are removed from the scene. As it is the price at 1115 today is an all time high and thus this breakout from the trading range of 42 low and 60 high has the potential to rise to 78 in the medium term.

[washbrook] 31/7/2003 09:23

Rivaldo .I agree with your comments they have a second half bias.

since 1995 results inc that year
first half- second half [eps]

1.28-1.78
1.79-1.94
2.06-1.5
1.85-2.22
2.02-3.05
2.82-3.31
1.92-2.14
2.63-3.28 [2002 results]
I have cut back my Portfolio I do not trust the market I expect some downturn in FTSE to 3300 or thereabouts my view.
I have not reduced BCS it is the major holding in my portfolio with Mc Alpine next who had excellent results today

[washbrook] 31/7/2003 09:23

Rivaldo .erased thro duplication.

[rivaldo] 31/7/2003 09:10

Here's my quick take on the results from the other thread - any comments to add, washbrook?

There's a distinct second half bias to BCS' results in 2001 and 2002 - the second half seems to produce around 15% more EPS than the first half. Given the same this year, the EPS forecasts for the year of 6.4p should be achievable, leaving BCS on a current year P/E of just less than 10.

And there's a 2.5% divi going ex-div in a month.

Not the most exciting share, but could be good for a quick 25% since it remains cheap (7.1p EPS forecast for next year) and still has potential for much growth via the NHS. Highlights:

"Broadcastle plc ('Broadcastle'), the specialised bank and finance Group,
announces its unaudited interim results for the six months ended 30 June 2003.

Key points :

• Net operating income increased 13% to £4.49m (2002: £3.97m).

• Profit before tax and amortisation increased 16% to £1.57m (2002:
£1.36m).

• Earnings per share increased 10% to 2.89p (2002: 2.63p).

• Interim dividend raised by 7% to 1.60p (2002: 1.50p).

On outlook, Chairman, David Stewart stated:

'A good performance by all of the Group's operating divisions underlies the rise in first half profits. Although sales have been a little slower than expected we remain satisfied that our full year income targets are achievable.'"