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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Getmobile | GETM | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 142.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 142.50 | 142.50 |
| Top Posts |
|---|
Posted at 16/3/2007 14:11 by benson Why are people so bullish when the last four RNSs have shown institutional investors reducing their holdings? |
Posted at 09/2/2006 09:18 by bennie buffett Get mobile - that's what investors want Thursday February 9th 2006 IT has been an interesting six months for Getmobile Europe, the online mobile phone reseller which was effectively floated on London's Alternative Investment Market (AIM) and the fledgling IEX in Dublin last year. Chaired by serial entrepreneur Pierce Casey, Getmobile was created after Fitzwilliam Capital changed its name following a 65m fund-raising. For shareholders who took an interest in the stock at close to the 95c level, Getmobile has been a bitter disappointment to date. An unexpected profit warning in October based on sluggish sales in the company's primary German market saw the shares collapse to 55c, and they later tumbled to 35c. From a high of 100c to a low of 35c in the space of a few months marked a pretty sharp downturn, even for an IT/telecoms company. Since the decline, there has been some positive news emanating from Getmobile culminating in a cautiously positive trading statement last week. Getmobile predicted a 20pc growth in 2005 EBIT on FY2004. It was encouraged by the satisfactory revenue achieved in Q4 and by the sustained increases in contracts sold throughout the quarter, despite contract delays, cancellations and the underperformance of some new sales channels. The company ended the year with cash balances of 6m and no debt. So where do we go from here? Getmobile intends to announce audited final results on March 29. Looking further out, the company seems to have put its plans to roll out its business model across Western Europe on hold. Certainly competition has increased in its home (German) market with multiple retailers like ALDI entering the frame, and this is where management needs to focus. Davy analyst Alan Daly feels that Getmobile performed well in the last quarter, demonstrating its ability to generate good earnings, following such a poor Q3. However, he notes that with "limited visibility, increased competition in the market, slower than expected channel build-out and additional investment at the operating level, it is prudent to revise downwards our 2006 and 2007 numbers". Getmobile has 'talked the talk' - the question now is whether it can 'walk the walk'. JIM AUGHNEY © Irish Independent & |
Posted at 31/1/2006 09:00 by bennie buffett Cash +, 20% growth at around 4.7m with more predicted. Germany economy on the rebound people more then willing to trade up their phones, expanding business model out. These results should give institutional investors great confidence in investing in the share (especially when a lot of them paid significantly more then the current share price in the placing). |
Posted at 08/1/2006 20:37 by glasshalfull Thanks for the BB scotswhaehae.Glad to see you in these also, seeing as you have good taste (holdings in FWY,WHI and SEA if I'm not mistaken). Don't know if you saw my post in paulypilots pub (posted a link on the FWY thread) but will reproduce here if you don't mind. Maybe give lurkers/potential investors an idea of the company and its prospects. -------------------- 3/1/06 Ever wonder what happened to Pierce Casey? After Pierce left Fayrewood in April 2005, he appears to have partly utilised the proceeds from his Fayrewood stake on his Fitzwilliam Capital investment vehicle which completed a reverse takeover of a German company named "Getmobile" in July 2005. Getmobile sells mobile phones and additional services to the German market with plans to expand the model across Europe. Does the plan sound familiar? This is a profitable business which claimed to have a low level of fixed costs, strong cash flow and low level capex and had captured 1.3% of the German post-paid mobile phone contract sales in 2004. The takeover involved a placing at 59.75p which rose £40.5M (net) and provided a market cap of £56.3M at the placing price with the company debt free. Getmobile had grown revenues from Euro 16.2M in 2003 to Euro 51.1M in 2004 with EBIT growing from Euro 0.1M to Euro 4.0M respectively. For more details, here's the link. The market seemed duly impressed and marked the share price up to the heady heights of 80p. Pierce succeeded in retaining the majority of the existing Getmobile Executive Team with another familiar name in David Kleeman - the newly appointed Fayrewood Chairman at the time - filling a non exec role in the renamed Getmobile Europe PLC. Since this time it has been all down hill for the share price. The main reason was a profit warning on 18th October 2005 Where the company said of the German market that "conditions appear to have been temporarily adversely affected by the impact on consumer spending of higher oil prices and the uncertainty over the direction of economic policy arising from the outcome of the recent election." and "There has also been some disruption of the post paid market arising from the recent entry of a number of MVNOs (Mobile Virtual Network Operators), and while these players concentrate on the prepaid phone sector of the market, (Getmobile only supplies post paid contract phones) their arrival has created some consumer confusion." They said that the factors were "likely to be short lived" and would impact on sales for the period from acquisition to 31 December but that the company "remains highly profitable and cash generative". A profits warning 2 months after institutions had subscribed to £40M worth of shares went down like a proverbial lead balloon and they subsequently reached a low of 23.5p on the 6th December 2005, when the story gets interesting. You see, the company released a further trading update on this date that said: "The expected seasonal increase in sales volume has materialised across all sales surfaces....Getmobile' maintaining or enhancing margins." More importantly they indicated that the full year results were too close to call (well my interpretation to the following extract): "Given the importance of the final quarter's results it remains too early to comment on the likely outcome for the Company's subsidiary Getmobile AG for the year to 31 December 2005. However, the Board reiterates its confidence in the profitable, robust and scaleable nature of its business model. The Board anticipates issuing a trading update by 31 January 2006" And here's the crux. Since this date David Kleeman bought 50,000 shares on the 7th December 2005 and this was followed up by the other 7 Directors purchasing 812,000 shares between them on the 19th December 2005 (of which Pierce Casey bought 500,000). At the bottom of the announcement it is also advised that a member of the supervisory board bought 200,000 shares. Now before one gets carried away the purchases totaling approx £300k should be brought into the context of the current market cap which at 28p is £26.39M, still a whopping 50%+ below the placing price. Nevertheless Directors hold approx 22% of the equity and the volume of buying prior to the year end of 31st December is the clearest indication for the market that the outcome has been successful, prior to the trading update they promise before 31st January 2006. Is this the time to follow the Directors lead and buy? As I admired Pierce Casey and David Kleeman and their enviable track record at Fayrewood (I was in between 30p-40p) I decided to trust my instincts and bought a few last week while the market was quiet. The spread was 25p-31p with 2 MM's and NMS 5,000. The business is profitable and they speak of improving margins. They have also intimated that they are moving the business model into The Netherlands and France. No pros and cons with this one as per my usual long winded posts as there is insufficient details other than the placing/acquisition document which I've posted a link to above. So if you fancy a punt, or simply wish to be reacquainted with Pierce Casey.... A Happy and Prosperous New Year to all. Please DYOR Regards GHF |
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