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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Fin.Objects | FIO | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 59.25 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 59.25 | 59.25 |
| Top Posts |
|---|
Posted at 27/7/2008 19:58 by yangou Sounds like Good advice to me as I believe this company would still do well on its own in the long term. Investors Chronicle recomends to accept the offer. Glad that there are some hopes of a better deal out there . So fingers crossed. |
Posted at 03/7/2008 22:28 by diku So now we know why the Chairman and the Directors bought a handful of shares just few months ago...I think since the profits warning just few weeks ago the company was probably put up for sale...this is where the board members protecting their best interest and sell the company whilst they can make a decent profit as they were probably aware that trading would worsen in the second half and the share price would take a dive further...anybody noticed the two trades on Tuesday and wednesday...looks very suspicious and the price lately was also holding up...those in the know!!...good luck to those private investors who held and made a bit of profit... |
Posted at 27/6/2008 15:12 by rivaldo I still hold here (at a loss obviously!).FIO remain interesting to me. At 34p on a £15m m/cap, Edison forecast 6p EPS this year having downgraded, and EVO still go for 6.9p EPS! There's also a 5% divi as forecast for this year. There was £4.8m net cash at 31/12/07 against that m/cap, and Edison forecast over £6m at this year end. The gamble is whether the banking has fallen off a cliff or simply reduced temporarily. With increased regulation (MIFID etc) the need for FIO's software is surely only increasing? And with the risk management division and everything else, an EV of around £10m for £20m of turnover and a load of IP is surely tempting to someone. An interesting nugget re FIO in the FT today too: "Private equity gaze likely to turn to Aim By Martin Arnold, Private Equity Correspondent Published: June 27 2008 03:00 | Last updated: June 27 2008 03:00 Companies listed on Aim, especially those with high levels of cash and a large strategic shareholder, could provide tempting targets for private equity, according to research published today. Likely targets include: Panmure Gordon, the mid-market brokerage; Character Group, the maker of Dr Who toys; and WH Ireland Group, the Manchester stockbroker, according to Noble Group, the investment bank. The research, produced by Absolute Strategy Research, a consultancy, says credit market turmoil will prompt private equity groups to seek targets with healthy cash balances and strong growth potential, as shown by some Aim companies. To compile a "private equity watch list" for Aim, it used a filter including only companies with a market capitalisation between £15m and £100m, net cash positions, an institutional investor with a holding of at least 10 per cent and staff with at least 5 per cent. John Llewellyn-Lloyd, chief executive of investment banking at Noble, said: "In a post-crunch world, conservative financing structures will be the norm. Aim-listed companies, which have on average the lowest net debt-to-equity ratios in the UK equity market space, will look very attractive to private equity buyers." Other companies thrown up by the watch list included Gulf Keystone Petroleum, an oil exploration company; Financial Objects, a software developer for the financial services sector; and Arden Partners, the stockbroker. While figures this week from the Centre for Management Buy-out Research showed a steep drop in the value of buy-outs in the first six months of this year, many of the biggest deals were public-to-private buy-outs of listed companies. These included Emap, the publishing company; Abbot Group, the oilfield services company; and Biffa, the waste management group. "There has been a continuing interest in private equity-backed public-to-privates but this may be set to accelerate, which is undoubtedly positive for the [Aim] market," said Mr Llewellyn-Lloyd." |
Posted at 23/4/2008 10:12 by rivaldo FYI here's the summary of FIO from SCSW a couple of weeks ago - note that the conclusion is "dirt cheap":"Financial Objects (Sharewatch) Financial Objects has reported solid results for the year to 31 December, with no sign of weakness in its core financial services markets. This was the third year of growth with revenue up 7% to £21.2m and pretax profit up by 40% to £2.8m. Adjusted earnings were up 27% to 7p. All three software divisions performed strongly and were profitable: banking, wealth management and risk management. The key driver to these strong results was a turnaround at the risk management division, which was established after the group acquired Raft in '06. The division supplies software products for managing operational risk (mostly sold to international banks) and credit risk (mostly sold to energy clients) and has been successfully restructured since '06 when it was losing £1m. Raft, a former quoted PLC, now relocated to Financial Objects' low cost facility in Bangalore, reported a profit of almost £1m before central costs on sales of £4.3m that were boosted by major new contracts from Shell, E.On and Calpine (a Texas power utility). That turnaround was quite a nice surprise for us when we spoke to management last month. A further key misconception amongst investors and explaining the present low rating is that Financial Objects is heavily reliant on new software licences in the banking arm. Indeed, that division is a big swing factor to performance with sales and profits going backwards due to fewer licence wins. But the group's dependency on new wins is low, shown by the divisional sales of £9.5m, of which only £935,000 was from software licences whilst the bulk (£5m) is from contracted maintenance revenues from the installed base of IBIS wholesale and Activebank retail banking products. Elsewhere, the final division, Wealth Management, remains healthy and well. Like Raft, the business has performed better since Financial Objects took it under its wing. Becoming part of a larger organisation added credibility in the eyes of customers. Last year, the division, which supplies portfolio management systems, reported a profit of £0.3m on sales of £3.4m. It's probably fair to say that Financial Objects' modus operandi has shifted from selling software to instead acquiring other quoted rivals, eliminating duplicated overheads and thus seeking non economic drivers to profit growth. With net cash at the period end of £4.8m and a significant derating in the quoted software sector, the company looks well placed to conclude further deals. Broker Evolution forecasts sales of £22.7m, pretax profit of £3.6m and eps of 7.5p this year. Recurring revenues represent 75% of total sales, making the shares a defensive prospect on a PE of 5. Dirt cheap." |
Posted at 01/4/2008 12:16 by diku Just before the results day there were a lot of small buys going through...since then the price has drifted lower...it could be that private investors are bailing out slowly as the 10% or 20% stop losses come into play...also those who bought on the T20 without any gains...so no point in hanging around...just my thoughts!!...or those bailing out do they know something...must say the last support of 40p has been broken.... |
Posted at 28/3/2008 16:55 by skyship Wrote to the company last week & the FD phoned me yesterday. Two Queries: Q. Why not a larger dividend? A. Much discussion amongst the Board on this issue as they wish to proceed with a "Progressive" dividend policy. However they decided that 1.5p was a serious step-up from 1.0p; and obviously makes it easier to continue at that pace. Q. Why not make share buybacks at these low levels A. (As always!!) - We prefer to use our cash resources to grow the business through acquisitions Unfortunately he caught me unprepared and just leaving for our weekly market visit (v. important here in France!) so I rather missed the opportunity to quiz on other aspects of the share price decline. However I did ask whether there had been a non-competition clause with the departing Fosters. He answered that he couldn't discuss individual contracts, but that all such arrangements are time limited in any event; and that they welcome and are not worried by competitors. He also said that the share price was disappointing for all holders, including the Board who had made serious share purchases quite recently. All in all a positive and helpful piece of investor relations. As for today's continued decline; it was yet again on small volume. MMs have no option but to lower the price in the face of the consistent PI dribble. It's a problem with AIM stocks generally. |
Posted at 14/3/2008 20:02 by liquid assets cheers glass...hmm. buy advice in investors chronicle today - cheap basically and lots of staff now in india ?! |
Posted at 10/3/2008 12:14 by techmark If you take the view that company is worth £40 million then why wouldn't you buy back your stock when the company trades at half that valuation. I wouldn't dig into the cash pile, but some of the free cash generated by the business could be used for a buyback. To be honest it would probably be a better route than raising the dividend. With dividends of 8-9% available on certain blue chips FTSE 100 stock, I very much doubt that income investors will be looking here. |
Posted at 10/3/2008 07:29 by skyship Commenting on the results, Paul Fullagar, Chairman said:'I am pleased to report that 2007 returned a third successive year of growth for your company. Operating margins across the Group have continued to rise and operating cash flow remains strong. We have significantly strengthened our management team during the year, laying the foundation to continue growing both organically and by acquisition.' Outlook The result for 2007 was excellent, and the outlook for 2008 is for a further year of progress. While we are mindful of market uncertainties, for the reasons stated above we believe that over the full year we can limit the impact of any slowdown. This confidence in the future and the strength of the balance sheet is reflected in the decision to recommend a significant increase in the dividend. A number of organisational changes were made in 2007 to strengthen the quality of the management team, and we will continue to invest both in sales resource and in product development. Following the successful integration of recent acquisitions, we are looking to acquire further complementary businesses that are synergistic and earnings enhancing. ==================== Personally I think they've missed a trick by not being more progressive with that dividend. The figures are very good without being excellent. We'll need the Press to pick up and report positively as the undervaluation will continue without new investors. |
Posted at 05/9/2007 09:37 by mctmct paulie1: The way I read it is this. There are several sorts of investors in small-cap companies 1 Their management. If they want to buy, then the company broker will do their very best to accumulate stock for them at the lowest price. One way to do that is for the market-makers to shake out nervous or short-term investors by dropping the price gradually. 2 Small-cap professional investors. They will wait for the analyst briefing and run their analysis software over the company before making any big investment. Again, their brokers will accumulate slowly at good prices if possible. 3 Private investors. Many of these won't be following FIO, or won't have access to the RNS or time to study the results until this evening or the weekend. Others will get alerted by comment in tomorrow's FT, or Friday's IC, or the weekend Money columns. So the early movement of small-cap shares is more a reflection of how the market makers want the price to move, because of large orders on their books, or their current positions in the stock, or their feelings about the results, than it is a reflection of the overall market response to the results. That's my take - what do others think? |
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