Ibs Opensystems Share Discussion Threads

[tole] 03/5/2006 17:02

Think it was in relation to the holding announcment the other day -

The Company has been informed, in accordance with Part VI of the Companies Act
1985 (as amended), that on 25/04/06 Standard Life Investments acquired 382,817
shares on behalf of Standard Life Group. This increased the total held as a
material interest to 2,132,817 shares being approximately 5.332% of the issued
stock of that class.

Looks to have been passed accross through Canada Life imo-

The Company has been informed in accordance with Part VI of the Companies Act
1985 (as amended) that following a sale of stock on the 26/4/06, the Canada Life
Group of companies no longer has a declarable interest in the Company.

Anyway - xd today as mentioned and nice to see it holding its 1.5p....

[trader2] 02/5/2006 15:26

Big X trade just posted. Wonder if it precedes some price action?? or is it to do with it being XD tomorrow?

[tole] 28/4/2006 10:05

Yes XD next wednesday - maiden dividend 1.5p

See Altium gave an update at the time of AGM and as per previous post - it seems they have kept forecasts unchanged sofar - since it is currently at the early stage of the year, though they highlight confidence in their forecasts for the year - and therefore gives the chances of upgrades to come imo.

"The company reports that, supported by market share gains in both of its
key markets [housing and revenues & benefits], trading in the three months to 31
March has been very positive and ahead of internal management expectations. As a
result, management remains confident of continuing growth in FY 2006E."

Revenue growth 14% and margins at 29%

Altium reiterate BUY - based on the stocks valuation and possible takeout target. Stick with current price target of 195p.

Unsure if NUMIS have given an update since the AGM - but they last had an ADD recommendation at circa 190 taget where they stated the valuation continued to look attractive.. But did note that in their last note they did state that they will look to review their forecasts further as they moved through the year.

[trader2] 26/4/2006 14:08

Delayed reaction better than no reaction. Shame about that ugly candle yesterday. Be pleased to clear it to the upside. XD 3rd May if I recall.

[sharegod] 25/4/2006 18:34

thats the pennant broken could be a steady 10% rise from here.

[tole] 25/4/2006 14:01

Yep agree off the radar from the masses at the moment but only takes a tip to change all that. (The one thing that had been lacking here)

Personally feel that trading is gonna be substantially ahead come the interims going by the contracts they seem to be pulling in. Reckon there is lots of potential to come from their new products which were recently launched. Note the last sentance imo

Off their recent results

"A number of new software solutions have been developed and launched during the
latter part of the year, which have opened up new markets for the Company and
produced additional revenue streams. These include OPENQuery, OPENMobile and
Workflow, all of which have been well received by both new and existing
customers with over 50 orders taken in the latter part of the year. These
solutions can be used in both the Local Government and Social Housing markets
and are not limited to just IBS OPENSystem's sites. Orders to date only
represent a small percentage of the possible future market potential."


Also still trading cum-divi.

"The Board has considered its dividend policy and is recommending a final
dividend of 1.5p per ordinary share. This dividend, if approved, will be paid on
1st June 2006 to shareholders on the register at the close of business on 5th
May 2006."

[glasshalfull] 25/4/2006 13:45

As you say, maybe too early in the year to upgrade the price target.

Only thing that makes me hesitate is the illiquidity in this one, similar to TSE in respect that the trading volume simply isn't there.

Noticed that the majority of trades appear to be rollovers and felt that the trading update should have generated more interest.
Seems to be off the radar to the wider market.

Good company though.

Watching at the moment.


Regards
GHF

[tole] 25/4/2006 13:35

Yes quite suprised myself - might add a few more too. Regards Altium, dont think they've upgraded as yet - maybe a bit early in the year for them...but advantage is it leaves room for upgrades later in the year... still close to 20% upside in the price to a target of circa 200p

Looking ahead must be trading at circa 13x 2007E and must appeal as an attractive asset in a consolidating sector.

[glasshalfull] 25/4/2006 13:16

Surely Altiums target price should have been scaled up ?

Didn't expect this to retrace so far.....might add some after all !


Regards
GHF

[tole] 25/4/2006 09:48

Numis has a buy rating for IBS Opensystem.

IBS Opensystems OPN 25-Apr Altium Capital Buy 176.50p 195.00p - Reiteration

[tole] 25/4/2006 08:00

Morning & thanks GHF - nice to be welcomed back today with this rise.
(Just wish I had picked a few TSE up last week after reading that trading statement yesterday)

[glasshalfull] 25/4/2006 07:55

Good statement and well flagged by Tole with regards to his posts on the string of recently announced contracts.


Regards
GHF

[tole] 25/4/2006 07:54

Looks that way so far pre-open :)

[trader2] 25/4/2006 07:40

Nice - fingers x'd for a strong open.

[tole] 25/4/2006 07:32

Tim Curtis, Chairman of IBS OPENSystems plc, the software and services company
focused on providing solutions to Local Government and Social Housing, will make
the following statement at today's Annual General Meeting:

"Supported by further market share gains in both of our key markets, the first
quarter's trading has provided a very positive start to the year and is ahead of
internal management expectations. The Board remains confident of continuing
growth in 2006."

[tole] 11/4/2006 08:11

Looks like that upward break has finally come :)

[tole] 04/4/2006 14:35

Still quiet here - but a quick heads up that the Investors Section on their website is now up and running though unfortunately they wont be able to put up the house broker coverage for whatever reason I forget.

AGM penciled in for the 25th April - so maybe will hear a little more on current trading - which going by the above contracts seems to be going along nicely.

[tole] 28/3/2006 09:52

Business looks booming - another new contract announced on their website.

Stratford-upon-Avon District Council signs contract with IBS OPENSystems
27th March 2006

IBS OPENSystems, a leading provider of software and services to Local Authorities and housing providers, has announced a new contract with Stratford-upon-Avon to implement its OPENRevenues software. The Council is investing £278,000 in an IT solution to support the management and administration of its revenues, benefits and council tax payments.
Stratford-upon-Avon required an IT solution which would allow it to share resources with other local authorities including Warwick, Rugby and Nuneaton and Bedworth. The solution will enable the council to generate efficiency savings by taking a combined approach to the provision of its revenues and benefit services.

An important factor in selecting the IBS OPENRevenues system was that it was being used by other nearby district councils. IBS OPENSystems has a proven reputation in the marketplace and the functionality of the system would enhance the needs of the council. The solution will support 70 users and will go live in early August 2006.

Dave Webb, Head of Revenues and Housing, Stratford-upon-Avon District Council comments:
"A key driver for us in choosing to work with IBS OPENSystems was that we could deliver economies of scale by sharing an IT system with other local authorities. IBS had a strong reputation with Warwick District Council so it made sense for us to pool our resources and move onto the OPENRevenues system. It will allow us improve customer service and generate efficiencies by sharing training, expertise, information and resources".

Bill Loughrey, Sales Director, IBS OPENSystems, comments:
"The contract with Stratford-upon-Avon is significant because it illustrates the benefits of sharing IT systems and resources between local authorities. It reiterates our commitment and expertise in the local government sector. IBS worked diligently with the council to understand its long term goals and how it could generate savings. It is a credit to all involved that we were the first choice for Stratford-upon-Avon District Council".

[sharegod] 20/3/2006 08:38

Think i deleted it.200p could be taken out this month.

[tole] 20/3/2006 08:35

Moving up - 3v1 and about to break the pennant.

What happened to the above chart?

[tole] 14/3/2006 08:07

Nice chart Sharegod - exactly what I was thinking :)
Completely missed that Holding Announcement last night - and it looks as if you are right with TEAM leading the way....

(GHF - couldnt keep quiet for long. LOL)

[sharegod] 13/3/2006 22:08

rising pennant. could the news of standard life buying cause a breakout?

[tole] 13/3/2006 21:18

GHF - No worries hope it was okay, was rather busy when I wrote it so hope it was all understandable.

Will keep quiet here for the time being now - doesnt look like anyone else is listening anyway lol :)

Am sure they will appear when it breaks its symmetrical triangle.

OT. Went back through all my files - Couldnt find anything else on ATUK other than what I had - if you have any further joy let us know. Ta.

[glasshalfull] 13/3/2006 16:46

Hi Tole

Thanks for the mail.

Just got round to looking at these again......would appreciate if you could keep quiet about the various contract wins for a week or so !!! LOL !



Kind Regards
GHF

[tole] 13/3/2006 14:33

And is this another one not mentioned? Another nice sum - £320k for the LONDON BOROUGH OF RICHMOND UPON THAMES, TWICKENHAM.

UK-Twickenham: software supply services
2280 - Contract award




SECTION V: AWARD OF CONTRACT
CONTRACT NO: 1
TITLE: UK-Twickenham: housing needs ICT systems, services and supplies
V.1) DATE OF CONTRACT AWARD: 27.2.2006.
V.2) NUMBER OF OFFERS RECEIVED: 2.
V.3) NAME AND ADDRESS OF ECONOMIC OPERATOR TO WHOM THE CONTRACT HAS BEEN
AWARDED: IBS OPEN Systems, 2 West Mills, UK-Newbury RG14 5HG. E-mail:
[e-mail]. Tel. [phone].
V.4) INFORMATION ON VALUE OF CONTRACT Total final value of the contract:
Value: 320 000 GBP.
Excluding VAT.
V.5) THE CONTRACT IS LIKELY TO BE SUB-CONTRACTED: No.
SECTION VI: COMPLEMENTARY INFORMATION
VI.1) CONTRACT RELATED TO A PROJECT AND/OR PROGRAMME FINANCED BY
COMMUNITY FUNDS: No.
VI.2) ADDITIONAL INFORMATION: GO reference: GO 06030903.
VI.4) DATE OF DISPATCH OF THIS NOTICE: 9.3.2006.