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Ekay Share Discussion Threads
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|Ekay - BUY Price: 13p Target price: 18p
Initiate with bullish stance
· Ekay is a full-service advertising and marketing agency with a diverse client base and solid foundations from which to drive organic and acquisitive growth. We initiate with a Buy recommendation and 18p price target (38% upside).
· Ekay has a 13-year trading record and has established a broad range of clients into which it provides a diverse range of services across the advertising and marketing communications spectrum.
· The group is headquartered in Kent, but has also established a market-leading position in the Channel Islands following the acquisitions of Wallace Barnaby (November 2006) and CMA (June 2007).
· Ekay reported breakeven PBT in FY07A (pre-exceptionals) following a period of acquisition integration and challenging trading in its core Ekay. Group clean EPS was 0.00p.
· The reported loss before tax of £2.5m was principally due to the write-down of bad debts associated with a key historic client that went into receivership.
· We are forecasting a return to profitability in FY08E (£0.7m PBT, 1.57p EPS), based on a strong pipeline of visible revenue and potential client wins, as well as a leaner cost base and full-year contribution from Wallace Barnaby.
· Ekay is a cash generative business and is underpinned by net cash at FY07A of £1.7m. We forecast that this will rise in FY08E to £2.3m (£3.5m FY09E), based on FCF generation of £0.8m and a net cash inflow during the year of £0.6m.
· The net cash position underpins our bullish stance and provides investment and/or acquisition funding for the group. With the shares standing at 8.4x FY08E EPS (5.6x FY09E), we initiate with a Buy recommendation and 18p price target (12x FY08E earnings).|
|am i talking to myself.. any views on this co.|
|any news on this.. take it out mbo at 40p|
|Mr Powell holds 34,850,000 shares representing 94.1%.. i hold from 37p.., so will top at 20p..if it gets there|
|Definite ouch there. I bet Eddie is a little hot and sweaty over this.|
A potential £1.65m bad debt from APS Mortgages, an insolvent customer.
Their announcement does not make it clear whether this is covered by credit insurance to any extent. If it isn't then this will really be a big hit to a company that has just made a pretax profit of just under £1m and had cash of circa £900K in the bank at the end of December.|
Shore Capital 22nd Jan 07
2007 PTP 1.6m
2007 EPS 2.9p
2007 DIV 0.6p
2008 PTP 2.1m
2008 EPS 3.7p
2008 DIV 0.7p|
|MG, I was in in the 20's and out at 45p........although I keep an eye I have not been investigating to any level of depth so cannot help you on that one, I'll keep an eye out for any though and post here if I find any.|
|Originally looked at these after their IPO but did not buy in.
Historic PE around 18 in relation to 2006.
Price has drifted down by nearly 25% over the past 7 weeks although it has not been affected by last weeks market slide (so far !)
PP: Any broker forecasts for 2007 yet ?|
At today's AGM of Ekay plc ("Ekay"), the AIM-listed advertising and marketing
agency which specialises in advising clients on the use of television, national
and local press, magazines, the internet, direct mail and posters, for business
development purposes, the Chairman made the following statement:
"The results for the last year were extremely pleasing and I am happy to
confirm that this good progress has continued into the new financial year. Our
first half sales for the current year have been encouraging.
"The acquisition last November of Wallace Barnaby, a leading marketing company
in the Channel Islands, added a new dimension to the Group. Ekay has worked
closely with Wallace Barnaby over many years and the logic behind our union had
become clear months ago.
"The investment in infrastructure and the acquisition has strengthened our
marketing position and although at an early stage in the year, this is being
reflected in a strong pipeline of new business leads.
"Our sound footing bodes well for the future. The company's earnings base is
widely diversified over many different clients and a broad range of project
types and I look forward confidently to the year ahead".
28 February 2007
Ekay plc Tel: 01474 334343
Eddie Powell, Chief Executive|
|hence the fall in price now to 32p|
|eddie powell was on trading places today, he sounded like a complete retard|
|no interest at 38p?|
|all gains wiped out back to pre results price, can buy at 39p.., co making prfit and pays dividend, chairman owns 94%.. is this a good long term investment?|
|are results disappointing.. down 8%|
|What's your take on EKY chart, Wiganer?|
|what's your take on this PP ?|
Preliminary Announcement of Results for the year to 30 June 2006
Ekay plc ("Ekay" or the "Company") is an advertising and marketing agency which
specialises in advising clients on the use of television, national and local
press, magazines, the internet, direct mail and posters, for business
development purposes. Ekay has particular expertise in direct marketing.
* Strong results:
+ Turnover up 81.1% to £36.4 million (2005: £20.1m)
+ Gross margin up 24.6% to £2.28 million (2005: £1.83m)
+ Headline pre-tax profit up 18.0% to £1.18 million (2005: £1.00m)
+ Reported pre-tax profit of £0.97m (2005: £1.00m)
+ Final dividend of 0.3 pence per share making a total post AIM admission
dividend of £111,566 for the year
* Announced today: Acquisition of Wallace Barnaby & Associates Limited
+ Consideration: £1.75m
+ Leading Channel Islands based marketing/advertising company
+ Earnings enhancing and synergistic
Eddie Powell, Chief Executive, Commented:
"The Group has continued its progress and profitability since June 2006.
"With the completion of further complementary acquisitions and the continued
organic growth of the business in a dynamic and evolving market place, we view
the outlook for the Group to be extremely exciting and I look forward to the
challenges over the next 12 months and the further development of the enlarged
|Nice share price rise today and trades are increasing... something must be about to happen (imo0|
|on selftrade can sell 10k, but buy only 750 shares.. sumtin up?|
|still continuing to rise..looking good!
this from earlier in the year....
"Preliminary results, which will be announced in early September, will report an excellent year of trading"
Well, early Sept was 10 weeks ago now ... we must see results released released soon ? has to be something big happening !?
results must have been better than excellent and aquisition lined up ? (imho)|
|Slowly ticking up over the past few weeks...... any views on this pp?.... are interims maybe imminent?|
|Someone paid 50p for 25K.......confidence ? ;)|