Communisis Share Discussion Threads

[zho] 18/1/2017 18:08

The ADVFN trades page:

[masurenguy] 18/1/2017 18:01

MT/zho - what's the source of your information on those trades? Can you post a link?

[zho] 18/1/2017 16:46

Three large after hours negotiated trades of 1.5m, 1.6m and 1.6m at 45p and above

[mount teide] 18/1/2017 16:44

4.7m of NTrades @45p+ reported after the bell.

[essentialinvestor] 18/1/2017 16:25

Yes hopefully encouraging.

[gleach23] 18/1/2017 16:24

Looks like a bit of share price strength in anticipation of the trading update

[nick rubens] 18/1/2017 15:23

"Everytime I see one of those brown envelopes it's like being back at school thinking
you have done something wrong )."

Yes. I think we all get that feeling even though we know all is well! lol

Anyway CMS looks like it's on it's next leg up to 50p from today.

[essentialinvestor] 13/1/2017 16:36

The debt reduction trajectory is very welcome and should generate more support,
provided it continues.


HMRC will keep them busy, must have received 6 or 7 letters last year,
and a small refund cheque.

Everytime I see one of those brown envelopes it's like being back at school thinking
you have done something wrong ).

[jailbird] 13/1/2017 15:31

Ah thanks guys, I missed that

if these notes are payable, then we can expect net debt to closer to £25m by end of Q1

[sharw] 13/1/2017 14:19

jailbird - if you look at the interim results you will see that the net debt of 34.9m consists of:

Net bank debt (23.7)

Finance lease creditor (1.9)

Promissory loan notes (9.3)

so they are included in the calculations

[gleach23] 13/1/2017 14:19

jailbird...they are included in net debt...or have I misunderstood your point?

[jailbird] 13/1/2017 13:57

What about repayment of loan notes due in Q12017?

Net debt reduced by GBP4.5m in the period, and ended GBP8.5m lower than at the corresponding point in the prior year, reflecting the ongoing delivery of a significant reduction in the Group's borrowings from a targeted cash management approach. The two year promissory loan notes valued at GBP9.3m remain repayable in Q1 2017.

[brucie5] 13/1/2017 13:30

Looks like the first rung on a new staircase chart. Bought in. Already hold on someone else's behalf as an income stock, and had been kicking myself for some time, though it has remained a dividend payer. I hope now it will also provide some capital growth!

[essentialinvestor] 13/1/2017 11:12

Appreciate that, had a listen last night.

[masurenguy] 12/1/2017 18:52

Header updated including institutional shareholders and the November Capital Conference presentation.

[gleach23] 12/1/2017 18:31

thanks sharw...as you say target is stated as £30m for 31/12/16 and furthermore they will be debt free in 2-3 years if the 2016 free cash generation is maintained

great news and feels like a share just to be patient with

[sharw] 12/1/2017 17:13

In November (post 950) I posted this link to the presentation:



(Masurenguy - could you add it to your list in the header?)

This is worth watching or re-watching as it answers a number of recent questions on this board. In particular there is discussion of the net debt from about 15 minutes in and during this Andy Blundell clearly states that target net debt for 31/12/16 is £30m.

[mobtheplod] 12/1/2017 15:57

Sorry Serratia, but the accounts are the only accurate way I know - it is easier if you use the traffic lights when viewing them through ADVFN and highlight Cash, Debt or Borrowings, that usually gets to what you want.

[serratia] 12/1/2017 14:23

Of general interest to me. How do you all get to the net debt ? CMS give one figure on the ADVFN financials they have a much higher figure and Yahoo finance have 59m. Are they using different calculations and is any one site better than others to avoid having to go through the accounts ?

[gleach23] 12/1/2017 12:59

I'm sure it must have been mentioned here before but on the debt theme, there is a correlation between the fall from chart highs of 75p in early 2014 and the rise in net debt. It would be nice to think then that net debt reduction will be a continuing theme to precipitate a rise back to similar levels.

From the results of the last few years the trend is shown below. Closing net debt shown first, followed by average net debt (where available) for the period (all in £m) -

H1 2016 34.9, 34.7
H2 2015 39.4, 43.5
H1 2015 43.4, 44.5
H2 2014 35.9, 41.4
H1 2014 36.2, 45.1
H2 2013 25.7, 28.1
H1 2013 12.9
H2 2012 20.0
H1 2012 27.5

The reduction in average net debt in H1 2016 was very encouraging. The upcoming update is only likely to indicate closing net debt position for H2 2016 but it would be great if it could come in below H1 and ideally below £30m.

[essentialinvestor] 12/1/2017 12:54

My view often tends to the cautious side, usually look at possible downsides
before considering any potential upside, it does lead to missing
opportunities in some cases.

Missed that mini dip by a few seconds, had a small trade lined up,
price was gone as clicked to buy.

[joe say] 12/1/2017 08:00

With increased profitable trading the pension deficit becomes even less of an issue as both the profit and the cash contribution kick in - one feeding into the PE ratio of course, and the other enabling faster debt clear-down.

Thus even minimal margin work helps this company - so to me volumes are key

[masurenguy] 11/1/2017 23:47

ES - I think that is a good summary of the current situation. Obviously, the imminent trading update which is likely to be issued over the next couple of weeks, should be a key factor in determining the movement of the shareprice in the short term timeframe.

[edmundshaw] 11/1/2017 22:24

Net debt has reduced and is on a downward trajectory. The CEO has been quoted as saying he doesnt like debt (obviously with the opportunities available over the last couple of years he had to be flexible on that score). Earnings are very reliable, and growing along with good new contracts. And the pension situation is improving. There is no way this price is remotely right, but it happens on the stock market with small companies. Although to be honest it has been happening here for quite a long time... but in the meantime we have a good dividend to keep us modereately happy.

I remain patient and heavily invested... my timescale is years not weeks or months.

[essentialinvestor] 11/1/2017 20:01

The share price appears low on a PER basis, less so on other measures when you factor
in net debt and the pension deficit.
Bought a very small amount today.