Share Name Share Symbol Market Type Share ISIN Share Description
Bus.Sys.Grp LSE:BSG London Ordinary Share GB0008222043
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 18.75p 0.00p 0.00p - - - 0.00 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services - - - - 15.78

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Bus.Sys.Grp (BSG) Discussions and Chat

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Date Time Title Posts
08/5/200909:48BUSINESS SYSTEMS GROUP = Massive undervaluation?292.00
30/9/200400:56Why is BSG so unloved Ј7.6m cash = 9p per share130.00
04/9/200314:40***BUSINESS SYSTEMS GROUP*** year lows19.00
15/7/200315:57BSG -Results on 20th June94.00
10/6/200313:13Undervalued or just unloved?51.00

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DateSubject
26/9/2006
09:07
mctmct: "languishing at the tip price?". This is the tip I copied down (no date, unfortunately): "I find it difficult to believe that the great depths of experience and contact will not allow that contracted income to grow, nor that 30 million pounds of annual turnover is not worth much more than the 5 million pounds at which the company is valued - net of the cash. And that 5 million pounds would take five years to be generated at last year's pace. But these arguments are academic. What is more practical is the fact that if forward way is being achieved - and I think that it is - the City will eventually wake up to that fact and pay proper attention. (I also like the fact that if there is much downward potential, it is hard to discern). After all, risk is the name of the game. But there are no forecasts, so perhaps this conjecture is wide of the mark. But how much would it cost to buy the business? That's conjecture too, but here's my estimate - 25p, and all points north from that. So that is my target price, and tells you why I regard Business Systems Group as a good risk - and a definite buy. Share price: 17.25 - 18.75p" mct
04/4/2006
10:33
latifs100: more company purchase today.. but no movement in share price.. decisions, decisions
16/3/2006
16:19
hugepants: I expect share price to recover to around 15p in the next few months
29/7/2005
10:15
jessica5: Someone maybe looking to look in some gains.....dont shot the messenger please.;-) Buy Business Systems Group at 18p Suggests Bill Johnston of Watshot.com (Sign up for a two week free trial on Watshot.com. Offer ends today. For more details ring 02070339389) Business Systems Group (BSG) puts its occupation bluntly - it is about "increasing the efficiency and productivity of IT Departments". Let us be blunt in turn. If the recent record of the company is anything to go by, efficiency, like charity should begin at home, and, although a start has been made, there is a long way to go. Yet we have seen before that when companies move to AIM - which Business Systems Group did about this time last year - it can so often be an outward sign of inward dynamics, and heaven only knows, the market is big enough and ripe enough yet, especially at the service levels which only modestly-sized companies seem able to achieve. But that market is changing - indeed has been for some time. The value of investments can go down as well as up. Investing in equities can lose you part or all of your capital. Smaller company shares can be relatively illiquid and thus hard to trade. And that makes such investments more of a high risk than larger company shares. Watshot.com is owned by t1ps.com Ltd which is authorised and regulated by the FSA and can be contacted at 49 Rivington St, London EC2A 3QB or on 0207 033 9389. The Market Once the earth seemed covered with people and organisations engaged in some aspect or other of IT, all of them making money - but with hindsight, that situation peaked when, with breathless anticipation we waited to see if the additional funds which we had coughed up would prevent global catastrophe as the Millennium hour approached, and those computers, so smart in so many ways, coming to a puzzled halt in the face of all those zeros. Well nothing happened, but we couldn't help wondering if anything would have, anyway. It was in that year that I wrote this: "The problem of course, with the brutal wisdom of hindsight, was the management's failure to foresee the speed of the decline in the prices and margins attributable to computer hardware and pre-packaged software, and a consequential lack of celerity in moving on to establish itself in the much more stable and lucrative area of IT services, from consultation and installation, through training, internet and intranet needs, to the provision of outsourcing services proper." Compare that with this: "....turnover for the year reduced by 14%.... the principal reason for the reduction was a 23% year-on-year decline in hardware revenues." The point is, that it was the Chairman of Business Systems Group that penned the latter, and he did so in June last year. And the first quotation? That refers to ComputerLand (CPU) another AIM-quoted company. As it happens I have not written here about ComputerLand - successfully tipped at 100p on this site in January 2003 - for I have considered the latter fully valued of late. But the point is that it was a much changed business by then - but Business Systems Group, which lost 3 million pounds in the year to March 2003, looked to have hardly started the process. And the question is - can a similar transition take place? The Business Now By March 2004 the loss had been eliminated - just - but with recurring income of 5 million pounds out of a 22 million pounds total (and that total having fallen by 4 million pounds) it was clear that the desired and orthodox solution - transition of the bulk of the business to that of the provision of managed services - to put it at its kindest still had some way to go. In fact drawing in the horns seemed more like the name of the game, the move to AIM which followed publication of the figures being part of a general belt-tightening. But what of the 2005 figures published about this time last month? Sales, from continuing operations were 25 million pounds - but supplemented by an acquisition, totalled almost 30 million pounds. Gross profits were a touch over 6 million pounds - expenses a touch under - the outcome a near thing, just 200,000 pounds in the black. That acquisition, the Unix business of Global Networks Solutions not only extended the group competence so that all the main operating systems fall within the extended technology remit, but made about one-third of the profit, too. Contractual revenues were circa 8 million pounds, annualised. As always, the assignments have to be won (like last Christmas, a nice present in the shape of a 2 million pound job from a prominent City legal firm) but with hardware margins in seemingly secular fall, the strategic goal is that of gaining managed-service contracts. Like its peer group, the company argues that it can deliver reduced costs, increased service levels and enhanced capability. Mulling this over, many an organisation will consider too the flexibility that comes from not having to employ non-core staff, and the fact that you have more power over contractors than you ever will over employers. So the market is a growing one. But Business Systems Group itself says that the market is nevertheless competitive, even if it claims that the breadth of its expertise and the depths of its software development skills give it a distinct advantage. The Investment Case That last point, is it true? Well, time will tell, although many will think that the process should have commenced a bit earlier. To complete the statistics, adding interest earned meant almost 600,000 pounds at the pre-tax level. There was a tax repayment so that earnings were about 1p per share. At the present share price of 18p, the company is capitalised at 15 million pounds and sell at 17.5 times earnings of course. But there is 9 million pounds in cash there, 1 million pounds of which accrued in the last financial year, fruits of an established and successful enterprise, even if (some would argue) a characteristic of a non-dynamic one. The Chairman is not given to banging the drum, contenting himself with the observation that the business is growing and that he thinks that the group, as at present constituted has all the technical and commercial weaponry that it needs to prosper. I find it difficult to believe that the great depths of experience and contact will not allow that contracted income to grow, nor that 30 million pounds of annual turnover is not worth much more than the 5 million pounds at which the company is valued - net of the cash. And that 5 million pounds would take five years to be generated at last year's pace. But these arguments are academic. What is more practical is the fact that if forward way is being achieved - and I think that it is - the City will eventually wake up to that fact and pay proper attention. (I also like the fact that if there is much downward potential, it is hard to discern). After all, risk is the name of the game. But there are no forecasts, so perhaps this conjecture is wide of the mark. But how much would it cost to buy the business? That's conjecture too, but here's my estimate - 25p, and all points north from that. So that is my target price, and tells you why I regard Business Systems Group as a good risk - and a definite buy. Share price: 17.25 - 18.75p Stockmarket: AIM
17/6/2005
10:40
sheik yerbouti: 15p bid now. Should surely get a tip at some point. When investors see these are on a pe ratio of about 4.5 when you take off the 11p cash per share, it's obvious these deserve a rerating, they are so undervalued. A historic pe ratio of just 10 would give a share price of 20p, 15 would give 25p.
30/5/2005
09:36
cockneyrebel: not sure what BSG will come up with - most of the earnings seem to be coming from interest earned on the cash they have so I'm waiting to see what they say. I was hoping for a trading statement in advance of the results saying they were ahead but nothing so far so I assume the 1p eps or there abouts is what they have achieved. As far as other stuff I'm holding, AVG looks very cheap, directors buying too. In the software secror XNC, PGC, BVM and BDI all look cheap imo, and I hold. One interesting one is WDSW. Despite the company saying results will be at the top end they have been sold off by a big seller of late - I guess it's a foreced seller for some reason. If WDSW hit the top end as they say they will the forward PE is around 10 which is low for this stock and the sector - results in a couple of weeks. MPL is worth looking at too - forecast to do 10p+ eps next year, share price 28p - 500m sales pa from a company with a market cap of £16.5m ! They look like they might sell Bullock off to the management, this might fetch more than £16m on it's own imo. Has a chequered history but is now in profit and the management says things are going well. That's some of the interesting ones - holding about 20 stocks that all look exciting at the moment. CR
15/10/2004
11:11
yump: Considering the number of posts on some threads, I'm surprised there's so few people on this one. Seems to be more interest in guessing the bottom for bombed out shares and guessing when the companies will turn a profit and guessing how big the profit will be in x years, in the hope of a quick profit on the share price !
14/10/2004
15:42
yump: >CR Thanks for drawing attention to this stock. The first two paragraphs of the corporate profile look a bit like management waffle, but the 3rd. certainly isn't. I have been looking for a while for a quoted company that has Persistent digital protection as part of its offering. The best part of BSG is that its not a stand alone PDP product, they will already have the corporate contacts and customers to sell into. So far I haven't seen anything much in the press about PDP. Its not exactly the next big thing, but the applications are very wide-ranging. Everyone has heard of the problems that the music industry has had with 'illegal' downloading and copying of CD's. Well as I understand it, paid-for content and information from websites is becoming much more common. BSG's dotencrypt product appears to run to multimedia protection, so for instance it may be possible to protect downloaded paid-for video clips. As more people get onto broadband, downloaded all sorts will become more common and having persistent protection will help to protect sellers revenues. On the corporate side, internal protection of documents, emails etc. is not very common at the moment. Only this afternoon I was on the phone to a (senior) friend in a blue-chip who was phoning the receiver of his internal email before he sent it to make sure noone else got to read it. There are potential legal implications for companies not securing sensitive information (eg. share price sensitive), not to speak of digital data protection. I'm hoping this is the 'something special' about BSG.
04/12/2003
17:52
willowdog: Strangely silent here as the share price rises!
29/7/2003
13:50
dubbsie: While many companies in the sector are seeing significant increases in their share price BSG has been ignored. With £7.6m in the bank the current share price represents a 23% to cash. We need a PR campaign, any supporters?
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