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Ite Grp. Share Discussion Threads
Showing 876 to 900 of 900 messages
|The huge rise in the ruble against £, some 35% since Jan is going to help ITE along nicely considering it still derives most of its trade through Russia. IMO the share price still has a long way to climb despite its volatile recovery since March. If the Russian economy continues to improve we could see another 50% on the share price within a year from now.|
|I think the rise is due to 2 factors: general market strength and Russian economy has bottomed and showing signs of improvement.|
|ITE have always been undervalued even though they have proved themselves very cash generative through thick and thin in the market. Substantial uplift from currency one factor. Management always been good now significantly strengthened. In the past they generated so much cash they hardly knew what to do with it and regularly bought back their own shares. Looks like they now intend to get the share price back up!|
|So what's this sudden exhuberance and break out due to; 7% up on a market down day?|
|"The Company has confirmed that Andrew Beach has been appointed Chief Financial Officer. Andrew will join the Board of ITE and assume the role of CFO once he has served the notice period in his current role, which is expected to be by the beginning of January 2017 (Des McEwan will continue as Interim Group Finance Director until this time). With ITE waiting for new management to start (CEO September) the stock looks likely to continue to be volatile unless there is a new directional catalyst."
N+1 Singer note: Https://www.research-tree.com/Company/GB0002520509|
|Yes, think this has probably bottomed out. Currency is now a significant tailwind.|
|Q3 trading is indicated to be in-line with management expectations. LFL CER revenue decline was 13% (actual revenues £46m) reflecting the weakness in MosBuild. The Company indicates that it has contracted revenues of c£127m, equating to 96% of consensus full year estimate. For the year growth is tracking to -8% with Q4 expected to be match this. While consensus FY16 revenues and PBT are unlikely to change some timings and pattern changes imply lower FY17 revenue and profit expectations. Due to hedging the full FX benefit will not offset these changes. MIOGE has gone annual (previously biennial) and moved to Crocus and will be smaller in FY17 than normal (Q3 event).
N1 Singer's broker note Https://www.research-tree.com/Company/GB0002520509|
|interims are out this morning, looks like they are in line with expectations|
|Mark Shashoua profiled in The Times' "City People" section today. Described as one of the best known figures in the business, and as joining ITE with it "in reasonably good shape".
The sentence that stands out, however, is this one - "Peel Hunt... suggests the new appointment could be a prelude to ITE being taken private." Something starting with a 2 would be enough to persuade me...|
|Yes, the dividend cut was clearly disappointing. Nevertheless it's now out of the way and we can hopefully look forward to a bright future as overall the business is doing OK in difficult market conditions.|
|For long term holders, the (somewhat unexpected) appointment of Mark Shashoua as CEO will bring back memories of the early days of ITE as a plc. Back to the future? Whilst the dividend cut reflects reduced free cash, I do wonder whether this appointment will herald an acceleration of ITE's M&A activities to diversify away from ex-CIS geographies.
As for the analysts -
Analysts Investec said the dividend cut was unlikely to be taken well but that it was “more about cover build than a cash ‘crisis’. New CEO appointment looks a net positive.” The advice was to “buy for long-term value with good fundamentals/yield, but near term is still tough with oil price/domestic weakness hitting FX, GDP and Russia/CIS”.
Key risks underlined were Ukraine/Russia situation and GDP prospects feeding to ITE events.
Numis added in its analysis of the news that ITE Group remained good value at current levels, with a ‘buy’ recommendation.|
|ITE interims May 9th|
|Up over 10%|
|big bowl to 200p here|
|interesting trades today|
|Put the chart the other way up and everyone would be saying a breakout is imminent. Try it ;-)|
|I think this is heading for a significant drop. There, that should send it up.|
|I'll have a few but not yet. I think the combination of Russia, Central Asia and the oil price has yet to play out fully for ITE. The main issue is what rating can it command in the 'weak' year, with weak results and I think 140p is stretching it quite a bit.
Its a well run business and they've diversified their business geographically, but its a fight between growth in new areas and double hits in others.
The other issue is that they've cleverly been in growth markets previously, which because they were growing have made ITE grow. Diversification makes the business more secure, but also limits growth, except in a global growth phase.
Bit like having loads of different shares, rather than a few.|
|Results OK. Tough H1 in prospect, given we are into the normal two year cycle of weaker results for next financial year, but looks like H2 will hopefully be more stable with less onerous comparatives. Hopefully, the like for like deterioration has almost worked its way through. Business will inevitably bounce back at some point. Happy to hold (after doubling up) as this is a quality business and it looks like they are committed to holding the dividend.|
|Excellent move up today|
|Turkey shoots down jet|
|upwards and onwards|
|Added this week.|
heading for 200p|
|Doubled up too|