Greatfleet Share Discussion Threads

[tobywilliamson] 24/10/2006 11:53

Real edge of your seat stuff over here eh!

[gardenboy] 26/9/2006 17:10

callum,

thanks, but I've still to register and read it though - do you have a link to Equity Developments website?

interesting recent trades - they appear as sells but doing nicely for the share price

[callumross] 18/9/2006 15:19

no problem gardenboy- if you hold your shares in a nominee account I guess you won't have got the research report with the results - it extends to 19 pages. However, you can access it at Equity Developments website. You must register first, but registration is free.
Cheers
Callum

[gardenboy] 18/9/2006 13:14

callum,

thanks for info

[callumross] 16/9/2006 14:21

Interestingly, I got the interim results in post today accompanied by a letter from the FD in which he states that "I am confident that this is the start of a prosperous journey and hope to be able to continue to deliver good news" and also a research report dated yesterday from the well known scribe Edmond Jackson of Equity Development in which he rates the shares as a buy and sets a short term price target of 20p "with further substantial upside potential as the earnings multiple expands". He goes for EPS of 1.8p for 2006 (0.9p after goodwill amortisation) and £2m profit next year for EPS of 3.5p per share next year as the goodwill will be added back. Describes the shares as a "classic recovery to growth" play.

[callumross] 14/9/2006 16:53

yes toby but much larger profits hidden by the integration costs surrounding the merger of greatfleet and longbridge which all accrued in the first half - still on target for £1m this year and 1.5p EPS

[tobywilliamson] 14/9/2006 16:46

Ah well - i guess £26k of profit is not that exciting and down she comes............

[gardenboy] 14/9/2006 08:21

yes, very nice results - company seems to be performing very well and confident about substantially enlarging the group possibly very soon.

[callumross] 14/9/2006 07:43

yes, excellent - a big turnaround and with even better to come in the second half - dont forget also that the goodwill amortisation will be reversed next year under IFRS - hint of a major acquisition to come later this year too.

[bigbigdave] 14/9/2006 07:08

Nice results!

[gardenboy] 13/9/2006 21:37

thanks, callum - up early tomorrow!

[callumross] 13/9/2006 21:23

gardenboy - i've seen the hardman report - it is forecasting £1m for this year (eps 1.5p) and you are right about next year with £2m - I expect eps of 0.5p pre exceptionals for the first half will be reported tomorrow with the balance of 1p coming in the July to December half given the turnaround and seasonality of the business - still an impressive turnaround from the disasters of previous years!

[gardenboy] 13/9/2006 20:05

callum,

I'm was just repeating ShareScope which shows eps of 2.99p for full year to 1/12/06 with £2m pre tax profit. I think the broker forecast was Hardman's. Let's hope tomorrow brings good news.
Fingers crossed.

[callumross] 13/9/2006 17:31

1.5p for this year and 3.2p for 07, I think, so we are on a current year p/e of 9 and prospective of 4.5 at today's price although it would be nice if we could exceed the 1.5p for this year - get a good idea tomorrow if they are going to meet these expectations

[gardenboy] 13/9/2006 17:18

agm statement said company was confident that it would meet market expectations and the only forecast available is for eps of 3p for current year rising to 3.2p for 07. If all divisions are doing well, current price is still way too cheap.

[tobywilliamson] 13/9/2006 16:24

Thanks Callum - are the results expected to tell us anything significant and to get the price back to anything like good levels what profit figures are they going to have to produce? Where do you expect the results to push the price?

[callumross] 13/9/2006 14:03

results tomorrow toby - a good sign, hopefully - MM's will take as much as you want to sell them online but will only sell you 7500 at 14p

[tobywilliamson] 13/9/2006 13:57

Cripes - what IS happening?

[gardenboy] 09/9/2006 22:21

this article from April suggests that things could be improving for Greatfleet - next week we should know more and hopefully it's positive.

Greatfleet witnesses employment boom

28/04/2006

Private player Greatfleet completed the reverse takeover of struggling legal recruiter Longbridge International in December, alongside a £1.75m funding. The reversal and name change followed a period of struggle for loss-making Longbridge, which culminated in the departure of chief executive Frank Varela and a strategic re-focus led by new chairman Jonathan Hill.

Greatfleet has now dramatically broadened its exposure to a swathe of booming sectors, and following the deal, all non-core, non-recruiting operations have been ditched, leaving the group focused on the audit, compliance, IT, and banking sectors, as well as the traditional core legal market.

One of Greatfleet's unique selling points is the 'research-led methodology' adopted regarding candidate search, which new chief executive Stuart Blake insists helps clients find staff more efficiently than traditional recruitment techniques, and yields a far better net fee income per consultant compared with sector rivals.

Blake argues all sectors are enjoying strong demand. 'Legal is buoyant, as is investment banking, audit and governance, and also IT', he enthused. Amid recent highlights, the legal search business has expanded in Europe, the law and finance international business, proving support staff to law and financial services firms, has also grown. A new team has come on stream delivering IT professionals for large outsourcing projects.

Legacy results for the six months to December (compared with restated figures for the six months to June) were fairly meaningless. 'Everything in the numbers is pre the deal happening', explained Blake. Sales were £1.49m (£1.57m) and pre-tax losses came in at £1.8m (£1m). We are unable to recommend the shares until the financial smoke clears, but Blake is an astute recruitment operator and Greatfleet has a compelling model. Watch this space for now.

[callumross] 08/9/2006 11:25

well, not long to wait now to see if this company is turning round under the new management from the disastrous longbridge days - interims to 30th june will be published next thursday - hopefully a return to profits combined with a buoyant outlook could see this share head to 20p+ in short order - fingers crossed

[callumross] 17/8/2006 11:27

The Board of Greatfleet announces that it received notification on 15 August
2006, pursuant to the issue of a Section 212 of the Companies Act notice, that
State Street Nominees Limited are the registered holder, as at 14 August 2006,
of a total of 5,219,560 ordinary shares of 2p each in the Company representing
9.32% of the current issued share capital of the Company.



Pursuant to the Section 212 notice, these shares to which the notification
relates are beneficially held as follows:



Name Ordinary Shares



The Liontrust Intellectual Capital Trust 1,926,508

Liontrust Investment Funds Limited 2,990,334

Stagecoach Group Pension Scheme 302,718

[gardenboy] 31/7/2006 10:00

nice rise :~)

eps of 3.2p for 1/12/07 - maybe this figure is conservative

[shanklin] 28/7/2006 07:01

FWIW, according to REFS, the forecast EPS for the current year is 1.5p. This increases to over 3p for 07.

[Abuse team] 27/7/2006 17:34

Post removed by ADVFN

[gardenboy] 27/7/2006 17:14

yes indeed, positive statement and I'm happy to hold those I acquired at 7.5p