Greatfleet Share Discussion Threads

[callumross] 27/4/2006 12:36

well we will know tomorrow toby as finals are published. No doubt they will show a £3m+ loss because of all the write offs associated with the Longbridge business. What will drive the price will be the accompanying statement for the new merged business. Brokers are forecasting profits of £1m this year which if they can be achieved would put the shares on a P/E of less than 5 for this year. It's all about building credibility from the wreckage of the old business and hopefully this process can start tomorrow.

[tobywilliamson] 27/4/2006 11:20

This is not looking too hot is it - a steady decline into the void

[callumross] 01/4/2006 10:54

the share price is depressed because of all the issues surrounding the old longbridge business - the first thing to aid a recovery wil be to get out of the way the 2005 accounts with all the write offs that will include. This is hanging over the market. All these write offs have been put into the 2005 accounts so none should run over into this year. We also need a positive forward looking statement with the rsults showing that they are on target to meet the £1m profit forecast for this year. Remember there are so much tax losses in the accounts that this company won't pay tax on profits for a few years. If they meet anywhere near the profit forecast for this year then the shares should be trading around the 22-25p mark, based on the average valuation for the sector. Longer term 40p is achievable if they further grow the business in 2007 and perhaps make a couple key acquisitions. The first stage in the recovery will be to get the 2005 results out of the way in mid April.

[tobywilliamson] 31/3/2006 19:23

so what do you think that will do to the share price immediately, short term and longer callum?

[callumross] 31/3/2006 16:06

I've just topped up with 50k more at this giveaway price. Hardman & Co have actually upgraded brokers forecasts this month from £800k to £1m pretax for the current year (EPS upgraded from 1.4p to 1.5p) so we are on a PE ratio of only 6 for the current year!!! The rsults to 31/12/05 will of course show huge losses from the old prestructured Longbridge business with lots of write offs so expect around a £3m loss. These results will be issued in mid-April according to the board

[callumross] 06/3/2006 13:18

nope -they just announced only last week that trading was in line with expectations!

[tobywilliamson] 06/3/2006 13:04

Just bombed to its lowest level since records began - is there some bad news about to be released?

[alexacj] 19/1/2006 13:28

Must admit I'm a bit puzzled by this share....there has been an awful lot of buying......and I can't see why.....sure there have been a few sellers but the buys way outweigh the sells since this began trading as gfg and even Hill has added a small amount to his considerable holding?????.....there must be something that we are not being told.....just got to wait to see what it is I guess!!!!!

[gardenboy] 19/1/2006 12:33

Greatfleet sells 75 pct of Parallax, starts 2006 with strong business

LONDON (AFX) - Greatfleet PLC has disposed of its 75 pct shareholding in
Parallax Consultancy Solutions Ltd to the company's minority shareholders for a
nominal consideration.
The company said the financial effect of this disposal will be reflected as
a non-recurring exceptional charge during the year ended Dec 31 2005.
Regarding future trading prospects, chairman Jonathan Hill said: "We start
2006 with a focused, and strong business which will take full advantage of the
considerable organic expansion opportunities available to it".
[e-mail]

[alexacj] 17/1/2006 14:36

I personally would just wait and see on this one.....with over 50 million shares in issue and the MMs offering 2k & 3k dealing limits then I wouldn't go near it yet....let those nice Market Makers keep their shares,and let them continue to mark it down until the financial position of the new company becomes clearer...aimho!

[gardenboy] 17/1/2006 13:04

alex,

thanks for info, doesn't look particularly good does it - nor does today's mark down :~(

[alexacj] 17/1/2006 12:53

16:37 (09/01) 12.88 30000 purchase 11 14
13:06 (09/01) 12.88 617667 purchase 11 13
16:40 (06/01) 12.88 16000 purchase 11 14
13:25 (06/01) 12.88 395332 purchase 11 13
16:39 (05/01) 12.88 595500 purchase 11 14
13:09 (05/01) 12.88 342500 purchase 11 13

The above is a list of the actual large purchases....as you can see a total of 1,996,999 was bought on 3 seperate days.....and they paid 12.88p.....now whilst Wills & Co. may be very nice chaps I'm not too sure why they are immediately selling them below cost....even if they were not the purchasers and they took some in the offer (at 15p!)....then in any scenario they are apparently offering this stock at a price below that paid!....interesting!

[gardenboy] 17/1/2006 00:09

Phil, you must try and keep up :~)

As I understand it though it's a bit confusing, Greatfleet, the London-based financial recruitment company trading as Fleet Search, has been acquired by Longbridge International in a reverse takeover.

[tobywilliamson] 16/1/2006 20:42

it has had a rocky road this stock - the question is whether now in its new guise it can recover and to what levals in what timescale?

[yam114] 16/1/2006 18:14

No Wills & Co.

[gardenboy] 16/1/2006 18:06

yam,

interesting - was it City Equities by any chance ?

[yam114] 16/1/2006 17:57

Purchase of approx 600,000 shares last week was by a broker. I received a phone call offering shares at 12.87p each, they made a good case for the company. I declined as this is not the way I normally buy share but I'm watching with interest. I also nrmally only deal in mining stocks.

[gardenboy] 16/1/2006 16:45

alex,

thanks for info, - the recent volume drew my attention to this share.

[alexacj] 16/1/2006 16:42

There was a fairly huge buy just over a week ago of 900,000 ish shares....seems that some people know more than we do......Hill most certainly has a massive vested interest in this one....not just his own shares and those held by General Capital....but also the money that General Capital has lent to the directors of Greatfleet to purchase shares at 15p in the placing....seems he at least has a great deal of confidence in the future....not a bad sign perhaps.

[gardenboy] 16/1/2006 16:33

Chairman buys a few today - every little helps

[callumross] 16/1/2006 16:03

hardman & co initiated coverage on this one with a profit foreacast of £800k for 2006, giving eps of 1.4p

[gardenboy] 16/1/2006 15:42

quick look on SScope shows massive rise in pre tax profits being forecast for 12/06 - £2m with eps of 3.2p - mk cap at present just over £8m

[liarspoker] 16/1/2006 15:33

At the first cursory look of about 10 seconds I see massive debt and negative equity. Future forecasts anyone ?