Civica Share Discussion Threads

[honiton] 16/12/2006 18:30

good write up in ic.

[honiton] 15/12/2006 18:00

Ah..buy on rumour, sell on fact. Strikes once again.

I think this is a solid hold for now.

[sivadnoj] 12/12/2006 12:09

Civica software rides public sector efficiency drive
604 words
12 December 2006
Citywire
English
(c) 2006 Citywire.co.uk. All Rights Reserved.

S & P code for assoc. stock..: E:CIV

Public sector software provider Civica has benefited from recent government initiatives to improve efficiency, build better schools and tackle persistent grime and crime.

Sir Peter Gershon's 2004 review of public sector efficiency, the Blair governments Building Schools for the Future programme and the post-9/11 atmosphere of intensified security are just some of the background stimulus helping Civica expand its market share and buy other companies.

Civica (CIV), which supplies software and other management services to some 700 local governments and 47 out of 53 UK police forces, is also delving into postal sector review and social housing improvements. It has expanded to Australia, New Zealand and Singapore.

The company hiked its full year adjusted pre-tax profit by 58% in line with market expectations after an earlier trading statement.

Adjusted pre-tax profit on ordinary activities for the year to 30 September increased to £16.1 million from last years £10.2 million on revenue of £125 million against £106 million, an 18% jump.

Diluted earnings per share reached 19.5p compared with 14.7p last year. The order book increased 67% to £91 million from £54.5 million in 2005.

Part of the success could be attributed to the growth in sales of Civicas proprietary software and the first half acquisition of Comino, which specialised in local government efficiency, and social care-focused Flare last year.

Proprietary software revenue rose 52% to £73.7 million from £48.6 million last year. Consulting revenue was up 58% to £26.2 million; software application revenue grew 28% to £21.5 million; and managed services revenue jumped 70% to £26.0 million.

Chief executive Simon Downing said the company won new business with existing customers while successfully expanding into related markets. The Comino purchase strengthened its public sector offering to front and back office solutions, he added.

The integration of recent acquisitions and expansion in existing and related public sector markets continues to strengthen the group's market position. With customers expected to continue investment in process improvement, integrated services and of course efficiency, the outlook for the Group remains positive, Downing said.

Dividends are to be 1.45p per share for a full year total of 2.18p, a 10% increase on 2005.

Jonathan Imlah at Altium Securities maintained a buy recommendation on the stock, noting the Comino acquisition was completed ahead of expectations and with strong benefits. Perhaps more importantly, the order book grew 67% to stand at £91 million, suggesting that growth is likely to continue in the business in spite of several comments from local government solutions providers that growth in the public sector market has slowed over the past few months, Imlah said.

He placed a 300p target price on the shares with a price to earnings ratio based on 13 times 2007 full year earnings. He said revenue forecasts might decline, reflecting a reduced base in third party licenses, but that it would have little impact on profits because of their low margins.

The shares were at 275.125p, up a fraction in light trading. Market capitalisation stood at £171.48 million.

Civicas new business in the local government and housing markets included more than 50 software contracts and expansion into social care with projects for Liverpool and Hackney. The company also added five contracts in Australia.

Civica was selected as the preferred technology partner in the consortium for Sheffield's Building Schools for the Future programme, and it won the £1.5 million South East library management shared service contract.

[honiton] 12/12/2006 11:13

superb result...no comment

should be recommended in share mag and investors chronicle..

[honiton] 10/12/2006 19:42

results on tuesday

[tole] 08/12/2006 13:21

Alts reiterating their 300p target today.

Mentioned in their latest write up that they believe estimates for 2007 and beyond could prove conservative - with therefore forecast risk to the upside. Especially imo with upbeat results expected after their positive pre-close statement.

[rampmeister] 22/11/2006 00:12

with the results due 12/12 can eps forecast of 18.1 be beaten? what's the consensus do they historically surprise on the upside?

RM

[shaunstreak] 20/11/2006 18:03

Aquisition in the pipeline I would think maybe. This company has bought out several companies and probably has a strategy to purchase more.

[shaunstreak] 20/11/2006 18:01

sorry meant 5M share transaction (AXA I think)

[honiton] 13/11/2006 21:54

I wouldn't think that a transcation of this size would push the price up.

surely somebody thinks its undervalued viz. other computer cos.??

[shaunstreak] 13/11/2006 18:22

10% gain............good news

[shaunstreak] 13/11/2006 18:22

A 50,000 share purchase went through on the Friday, the largest buy for some time. I would assume this is the reason plus the announcment on 8th about preffered bidder status for the south east libruary software.

[honiton] 13/11/2006 12:16

nearly 10% gain in 2 days and not a word on the bulletin board??

any comments???

[honiton] 10/11/2006 17:17

What happened today??

[shaunstreak] 31/10/2006 18:00

With the intergration of Comino, is this company looking to expand further? Another acquisition maybe......

[shaunstreak] 31/10/2006 17:58

Good prospects for the year to come, and price moving upwards recently make this share very interesting.

[honiton] 18/10/2006 07:06

could be interesting..

[sivadnoj] 13/10/2006 12:11

According to Citywire, Altium has issued a buy note with a price target of 300p.

[tole] 06/10/2006 15:19

Could be about to break its rectangle - trading update due out this month.

[johnroger] 12/6/2006 20:27

Comino acquisition lifts Civica
M o n e y AM
Public sector software specialist Civica reported a 40% rise in first-half operating profit.

The company said this was thanks to the acquisition of a rival and a raft of contract wins.

The Bath-headquartered company, which makes software and provides support services for local authorities, police forces and schools, said operating profit for the six months to March 31st rose to £7.8m from £5.5m a year earlier.

Revenue rose 14% to £56.5m from £49.6m.

Civica profits were boosted by 22 contract wins in local government, including a £3.3m housing project at Manchester City Council, and also the £50m acquisition of Comino Group, which also makes software for the public sector.

'I am pleased with performance in the first half, during which time we have achieved a significant increase in operating profit and gross margins,' Civica CEo, Simon Downing, said in a statement. 'The acquisition of Comino has further strengthened our product portfolio and market position and we are ahead of schedule in realising the revenue and cost synergies from integrating the business.'

The UK public sector IT market remains buoyant as organisations invest in technology in an effort to cut costs and improve efficiency, Civica said.

'We remain confident about our prospects for the remainder of the current year,' Civica said

[tole] 25/4/2006 20:35

Civica CIV 25-Apr Altium Capital Buy 251.00p 300.00p - Reiteration
Civica CIV 25-Apr Seymour Pierce Outperform 251.00p - - Reiteration

[mctmct] 21/2/2006 12:35

The fundamentals still look good (IMHO), but volatility has greatly increased. Any views about that?

[fellowes] 05/12/2005 20:35

CC

Agreed. I think we are at the start of a strong re-rating.

Civica is already at a 12 month high and about to establish a new higher
trading range.

[cravencottage] 05/12/2005 16:28

Not long to wait now for these results (13/12). Once the market has digested the numbers the re-rating should ensue PDQ.

Good luck all

CC