Share Name Share Symbol Market Type Share ISIN Share Description
Mice Grp. LSE:MEG London Ordinary Share GB0006064751 ORD 4P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 6.00p 0.00p 0.00p - - - 0 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 185.0 -6.3 -2.5 - 10.63

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Date Time Title Posts
08/11/201308:50Merlin Entertainments - a rollercoaster ride...22
18/7/201206:54MICE GROUP SOON TO BE A QUARTER BILLION POUND COMPANY2,353
06/6/200713:39MICE GROUP > ROBBIE BURNS FILLS HIS BOOTS. 2.6.035
16/11/200621:13test-
23/10/200612:15MICE GROUP ABOUT - HEADING NORTH!9

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DateSubject
29/9/2016
09:20
Mice Group Daily Update: Mice Grp. is listed in the Support Services sector of the London Stock Exchange with ticker MEG. The last closing price for Mice Group was 6p.
Mice Grp. has a 4 week average price of - and a 12 week average price of -.
The 1 year high share price is - while the 1 year low share price is currently -.
There are currently 177,166,383 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Mice Grp. is £10,629,982.98.
01/6/2007
19:33
freaknomad: ProfessorSMSmith: Now perhaps you doubters will believe. This stock is either NIL or 20p. At a share price of 6p, that seems like really bad odds. At 50:1 or so, it might be worth a punt.
05/5/2007
20:53
pbracken: Be careful with MEG. Working capital needs have seen debt mushroom to around #55m, AFTER the recent sale and property lease-back. The silver lining is that business is booming - but is it profitable? That is what the Review will tell investors, and its findings will dictate the short term movement in the share price. In the medium term, if MEG can find a buyer for its UK division then one can envisage a recovery in the stock; if it can't, investors will need to buy some wool and knitting needles, because the long haul awaits....
26/4/2007
10:41
nilip: As far as I can see the company is doing what it said it would recently and is actively reducing debt (re: sale of leisure assets et al). It's looking to concentrate on its marketing services gp. There's no shortage of projects/contracts in the pipeline and it's just a matter of whether MEG can keep up, so to speak. Gross profit for the yr will be at least £6 Million – due to delays in project work. The share price is now less that half what it was just a few months ago - more than compensating for the project delays imo.
26/4/2007
08:09
stemis: where do you get £17m from Stemis? Last sale raised £10.4 not £17m. If you read the announcement you will see they announced the sale of leisure assets for £10.4M and a sale and leaseback for £7.5m. According to Motley Fool , MICE America has severe cash flow problems and its senior staff are leaving. Not according to Motley Fool at all, but according to a newly registered poster there whose only 2 posts make unsubstantiable allegations about MICE's US operations. Funnily enough I don't recall seeing you about these parts before either... We all know that debt is high (although recently cut by 40%) and that profits are down. That's why the share price is where it is. At 9 x taxed EBIT it certainly doesn't include much hope value. I wonder if there is some bear raid taking place here. Its fairly thinly traded and has well known problems. A few shorters could force a drop in the price and then spread rumours about the business causing loose holders to sell and the price to drop further. Look out for new posters...................
19/1/2007
10:45
stemis: jelfsie Instead of of consoling yourself with conspiracy theories about insider trading maybe you should learn to read the signs a bit better. I can assure you it's no consolation. However the fact is, the share price suddenly dropped by 10% in the week before this RNS having been pretty steady in the 6 weeks after the initial drop caused by the interims. Coincidence? Nonetheless, I hope your losses are manageable if you have been trading. I wouldn't worry about my losses, they are quite manageable. Even after MEG I am comfortably up just in January alone. However that is not really the point. No doubt it was all so obvious to you (as it always is to those who pop up after the event). Just like the 27% drop in the share price of Leadcom in October and November was obviously a sign that things were going disasterously wrong. Except the share price in that case recovered 25% leaving those who sold after the drop well out of pocket.
19/1/2007
08:36
scburbs: jelfsie, LOL! Your wisdom after the fact impresses me hugely. Companies share prices slide sometimes with good reason and sometimes with no good reason. Perhaps you can explain the well telegraphed signs that would help distinguish the difference between the two situations. Unless it is possible to clearly distinguish these cases the danger of selling low for no reason (when you should be buying) is huge. nilip, could be a good move. Bear in mind 30% held by AXA and HSBC so their reaction is quite important to future move in share price. The size of their holdings makes dumping not really an option and if they do want to exit could increase the chances of a takeover, but that would be unlikely to be at a full price (although a nice gain for you).
19/5/2006
13:19
scburbs: Nice to see more director buying. There has been pretty consistent MEG director buying in non-closed periods. As for the results the adjusted eps number was excellent and with a good outlook statement this bodes well for next year. The new accounting policy has reduced the previous debtor days anomaly, reducing them from 108 to 76 days. I imagine under the old policy they may have been invoicing when the work was partly done with an agreement that payments will not be made until the end, hence the high debtor days. However, the stock days have increased from 22 to 45 as a result (i.e. costs stay longer in stock before being invoiced and moved to debtors). This gives a combined improvement in stock/debtors days of 8 days from 129 to 121. Further improvements can be made, but it is good to see them moving in the right direction. Overall working capital cash flow was £(3)m in each of H1 and H2. This number is comfortably covered by operating cash flow, but given low turnover growth it would be good to see working capital starting to reduce from the first half of next year. Overall the cash flow position looks manageable, but it would be nice to see them go cash flow positive, particularly if top line growth is going to be low. With things seemingly back on track and the directors clearly confident, the significant cash flow risk discount inherent in the MEG share price should start to unwind and we should hopefully see an increase to 60+p market conditions permitting.
29/4/2006
15:52
thistimenextyear: JUST A REMINDER FOR ANY NEW OR POTENTIAL INVESTORS (of an earlier post of mine) which summarises things at MICE just before the results on Wed 17th May. Be interested to hear what other investors on this site have to say about the MICE Group (epic code MEG). Here are my thoughts: So finally the MICE turnaround story has started with the share price taking off! I think actual turnaround in the company has been taking place for the last year through its rationalisation programme. Recently the share price has risen from its all-time low at 26p to 40p, and now retraced a little and stabilised at 36p. Institutions have been buying in aggressively with big buys most days, often 1p above the offer price driving up the share price Very Strong TA signals. Recently a EVO buy note, with a target price of 48p. My current short-term target is 50p, which I think will be achieved easily, with a medium term target of 70p. Long term £1. If you are looking for an excellent recovery play - look no further IMHO! What attracted me originally to the MICE group back in November last year was on fundamentals - when the companies rationalisation programme is completed in 6 months (18 month programme - 12 months in) - the company will be delivering revenues of approx £200m, with a net profit of say between £7-£9m. Considering the fact that market cap was only £44.7m back then, that equated to a P/E ratio of approx 5-6. At current share price of 36p, the P/E ratio is just under 10. Considering the average in the media/business services sectors are approx 15-20 I could see the potential. Then you have a guaranteed dividend on top of the growth story. A little info about the company - The MICE Group is an intergrated marketing services company with a truly global presence, with 150 of the Fortune 500 customers as clients. Looking forward .... the problem historically has been through many aquisitions over the previous years this company had created high levels of debt, which through interest payments was affecting the cashflow, and the company poorly controlled its working capital. A £24.7m fund raising was completed in March 2005 (34p share price open offer and placing), which has significantly reduced the debt levels. The financial years 2005/6 and 2006/7 are pivotal in refocusing the Group both operationally and financially after the fund raising in March 2005. The company has embarked on an 18 month period of consolidation, of which we are now 12 months into. In the first six months of this rationalisation programme, the company has made good progress with the first phase of the rationalisation process nearing completion. In this period, the company has reduced management and manpower where appropriate, consolidated, closed or integrated poor performing businesses, exited from disadvantageous contracts and focused on overall working capital management. This has led to a positive swing in cash flow in the first half and improvements in working capital. These initiatives will continue. This will allow the company to move forward as a cash generative and highly focused integrated marketing services business. In the first half results we saw an exception cost of £3m for the rationalisation programme. A further £3m is budgeted for in the second half (which ends 28th Feb 2006), but after this the company does not anticipate any further costs associated with this. The costs incurred during the half year comprise the initial repositioning of underperforming businesses in Germany, the reorganisation to create an integrated print offer within the UK Division, the streamlining of businesses under defined and accountable leadership teams and the costs associated with the reduction in corporate overheads. Costs to be incurred during the remainder of the year (to 28th Feb 2006) will fully cover the repositioning of the International Division, complete the programme within the UK Division and allow for the reorganisation of US businesses to maximise capacity utilisation. The recent launch of 'Fusion', the integrated selling model, will be an important driver of future organic growth. This new initiative has already gained momentum with some excellent new client project wins. The company expects further progress in the second half of the year as it seeks to strengthen and extend our services and relationships with current clients. Significant potential opportunities exist within our relationships with 150 of the Fortune 500 companies. Therefore,if the company through these actions can streamline the business, improve cashflow, working capital; continue to reduce debt, whilst still organically growing the business I believe this share will represent an excellent recovery play for 2006/2007. The most recent results (Nov 2005) showed - Positive operating cash flow and working capital improvements - Strong order book - Group turnover up 7.4% to £99.3m (2004: £92.4m) - Profit from operations (pre-exceptionals) at £4.7m (2004: £4.8m) - Profit before tax (pre-exceptionals) at £3.1m (2004: £3.3m) which wasn't bad considering the rationalisation programme taking place, with £3m exceptional cost & the fact that for the International division a significant Xerox project which falls bi-annually was delayed, now secured for April 2006 period. Growth in working capital has been minimised by the continuing improvements in underlying debtor and creditor management together with the renegotiation of contracts to provide better funding profiles. Stabilisation of cash flow has been a key priority and in this regard considerable progress has been made. In the period, cash generated by operations was £3.2m compared to an outflow of £6.0m last year. It is expected that this trend will continue, making further improvements. Net debt at the end of the first half was £38.2m compared to £49.0m at the end of the comparable period last year and £56.7m at the year end. It is expected to see the £38.2m current debt level further reduced going forward. The boards priorities in the second half (ending 28th Feb 2006) are on cash management, further debt reduction and organic growth. Next results due 17th May. Note, that EVO have a BUY note out now with a target price of 48p. In their note they stated : QUOTE Our key take away from our meeting with management yesterday (6th Feb) was of group that has in place a strategy to provide a coherent marketing services offering across the International and North American divisions. The UK division is now better focused on its core design and building offering for retail, exhibitions, conferences and education and health. The year just ending was a challenging year for the International division as action was taken to address underperforming businesses in the UK and Germany and from a revenue perspective with the delay to a major Xerox project; now to be delivered in April. The view ahead is more confident with a range of significant business prospects visible and confidence in the depth and strength of client relationships. In North America, the group is moving from a base in conferences and exhibitions to drive up the value chain with clients, assisted by cross selling from the International division's existing strong relationships. We speculate that the distinction between the International division's positioning and that of North America will blur as the business models converge. North America is having the usual strong seasonal delivery of conference and exhibition business. We expect the development of a broader marketing services offering, particularly in communications, to have the effect of reducing the seasonal skew. The division has matured considerably this year as new client wins have seen the start-up operations mature and capacity utilisation management improved. With the UK division now a better integrated unit and action being taken to improve the contract mix, we see the opportunity for some margin improvement in that unit in the year ahead. We are making no changes to numbers. The current ratings of P/E 7.4x and 6.5x for this year and next, suggest that the market has so far missed the progress being made and the opportunity ahead. We see significant upside from here. Buy. Strategy is progressing. Our meeting with MICE's management yesterday added to our confidence that management has in place a coherent strategy that will deliver improving margins. The mantra of cash management continues to resonant. UNQUOTE MICE have also recently won some excellent industry awards, which can't be a bad thing. Please note, that as year end was on 28th Feb. Currently in closed period to prelims which will be delivered in just under 3 weeks on 17th May. One needs to ensure that the recovery that we believe is now firmly in place is actually verified in this statement. I obviously believe it will be through my investment actions, and so does EVO and the institutions currently agressively buying. However, always more reassuring to see it in black & white. Also, from a TA perspective, you can see on the chart that we may get a little resistance around the 43-44p level. If it breaks that, IMHO I think it will move very quickly up to 55p and beyond. Current Market cap £63m, Revenue £190m, No of shares 175m Current SP=36p. Year ends on 28th Feb. Next results - the prelims expected 21 May. I can see share price between 50-70p by the time of the next results in May. 2006 2007 Broker Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p) KBC Peel Hunt Ltd 25-04-06 BUY 8.70 3.67 0.75 9.70 3.88 0.85 Evolution Securities Ltd 07-04-06 BUY 8.80 3.70 1.00 9.80 4.10 1.10 Please note that I have a number of open positions on MEG at 29p, 33p and 35p. Be interested to hear others views and personal share price targets for this share. All the best & have a great bank holiday weekend, TTNY
25/2/2006
14:12
thistimenextyear: Good afternoon all, For any newbies to the MICE Group I thought I would post a summary. Apologies to the regulars who I am sure know all this, although they may have their own thoughts in terms of the share price prospects, and may not necessarily agree with my targets. So finally the MICE turnaround story has started with the share price taking off! I think actual turnaround in the company has been taking place for the last year through its rationalisation programme. Just in a couple of weeks the share price has risen from its all-time low at 26p to 40p. Institutions buying in aggressively with big buys most days, often 1p above the offer price driving up the share price Very Strong TA signals. Recently a EVO buy note, with a target price of 48p. My current short-term target is 50p, which I think will be achieved easily, with a medium term target of 70p. Long term £1. If you are looking for an excellent recovery play - look no further IMHO! What attracted me originally to the MICE group back in November last years was on fundamentals - when the companies rationalisation programme is completed in 6 months (18 month programme - 12 months in) - the company will be delivering revenues of approx £200m, with a net profit of say between £7-£9m. Considering the fact that market cap was only £44.7m back then, that equated to a P/E ratio of approx 5-6. Considering the average in the media/business services sectors are approx 15 I could see the potential. Then you have a guaranteed dividend on top of the growth story. A little info about the company - The MICE Group is an intergrated marketing services company with a truly global presence, with 150 of the Fortune 500 customers as clients. Looking forward .... the problem historically has been through many aquisitions over the previous years this company had created high levels of debt, which through interest payments was affecting the cashflow, and the company poorly controlled its working capital. A £24.7m fund raising was completed in March 2005 (34p share price open offer and placing), which has significantly reduced the debt levels. The financial years 2005/6 and 2006/7 are pivotal in refocusing the Group both operationally and financially after the fund raising in March 2005. The company has embarked on an 18 month period of consolidation, of which we are now 12 months into. In the first six months of this rationalisation programme, the company has made good progress with the first phase of the rationalisation process nearing completion. In this period, the company has reduced management and manpower where appropriate, consolidated, closed or integrated poor performing businesses, exited from disadvantageous contracts and focused on overall working capital management. This has led to a positive swing in cash flow in the first half and improvements in working capital. These initiatives will continue. This will allow the company to move forward as a cash generative and highly focused integrated marketing services business. In the first half results we saw an exception cost of £3m for the rationalisation programme. A further £3m is budgeted for in the second half (which ends 28th Feb 2006), but after this the company does not anticipate any further costs associated with this. The costs incurred during the half year comprise the initial repositioning of underperforming businesses in Germany, the reorganisation to create an integrated print offer within the UK Division, the streamlining of businesses under defined and accountable leadership teams and the costs associated with the reduction in corporate overheads. Costs to be incurred during the remainder of the year (to 28th Feb 2006) will fully cover the repositioning of the International Division, complete the programme within the UK Division and allow for the reorganisation of US businesses to maximise capacity utilisation. The recent launch of 'Fusion', the integrated selling model, will be an important driver of future organic growth. This new initiative has already gained momentum with some excellent new client project wins. The company expects further progress in the second half of the year as it seeks to strengthen and extend our services and relationships with current clients. Significant potential opportunities exist within our relationships with 150 of the Fortune 500 companies. Therefore,if the company through these actions can streamline the business, improve cashflow, working capital; continue to reduce debt, whilst still organically growing the business I believe this share will represent an excellent recovery play for 2006/2007. The most recent results (Nov 2005) showed - Positive operating cash flow and working capital improvements - Strong order book - Group turnover up 7.4% to £99.3m (2004: £92.4m) - Profit from operations (pre-exceptionals) at £4.7m (2004: £4.8m) - Profit before tax (pre-exceptionals) at £3.1m (2004: £3.3m) which wasn't bad considering the rationalisation programme taking place, with £3m exceptional cost & the fact that for the International division a significant Xerox project which falls bi-annually was delayed, now secured for April 2006 period. Growth in working capital has been minimised by the continuing improvements in underlying debtor and creditor management together with the renegotiation of contracts to provide better funding profiles. Stabilisation of cash flow has been a key priority and in this regard considerable progress has been made. In the period, cash generated by operations was £3.2m compared to an outflow of £6.0m last year. It is expected that this trend will continue, making further improvements. Net debt at the end of the first half was £38.2m compared to £49.0m at the end of the comparable period last year and £56.7m at the year end. It is expected to see the £38.2m current debt level further reduced going forward. The boards priorities in the second half (ending 28th Feb 2006) are on cash management, further debt reduction and organic growth. Next results due 21st May. Note, that EVO have a BUY note out now with a target price of 48p. In their note they stated : QUOTE Our key take away from our meeting with management yesterday (6th Feb) was of group that has in place a strategy to provide a coherent marketing services offering across the International and North American divisions. The UK division is now better focused on its core design and building offering for retail, exhibitions, conferences and education and health. The year just ending was a challenging year for the International division as action was taken to address underperforming businesses in the UK and Germany and from a revenue perspective with the delay to a major Xerox project; now to be delivered in April. The view ahead is more confident with a range of significant business prospects visible and confidence in the depth and strength of client relationships. In North America, the group is moving from a base in conferences and exhibitions to drive up the value chain with clients, assisted by cross selling from the International division's existing strong relationships. We speculate that the distinction between the International division's positioning and that of North America will blur as the business models converge. North America is having the usual strong seasonal delivery of conference and exhibition business. We expect the development of a broader marketing services offering, particularly in communications, to have the effect of reducing the seasonal skew. The division has matured considerably this year as new client wins have seen the start-up operations mature and capacity utilisation management improved. With the UK division now a better integrated unit and action being taken to improve the contract mix, we see the opportunity for some margin improvement in that unit in the year ahead. We are making no changes to numbers. The current ratings of P/E 7.4x and 6.5x for this year and next, suggest that the market has so far missed the progress being made and the opportunity ahead. We see significant upside from here. Buy. Strategy is progressing. Our meeting with MICE's management yesterday added to our confidence that management has in place a coherent strategy that will deliver improving margins. The mantra of cash management continues to resonant. UNQUOTE Current Market cap £69m, Revenue £190m, No of shares 175m Current SP=40p. Year ends on 28th Feb. Next results - the prelims expected mid-May. I can see share price between 50-70p by the time of the next results in May. Please note that I have a number of open positions on MEG at 29p, 33p and 35p. Be interested to hear others views and personal share price targets for this share. All the best & have a great weekend, TTNY
13/7/2005
16:41
diamante: fjgooner - 13 Jul'05 - 00:40 - 578 of 594 ... hmmm. Definitely an overhang to finish clearing. FJ, Why have you changed this post from this morning? Then, it said that Paul Investor had sold out and you asked him if he was going to short it to 10p. So why does it say the above now? Chef, MEG price 80p, I've just bought loads, buy buy buy MEG price 70p, I've just bought loads, buy buy buy MEG price 60p, I've just bought loads, buy buy buy .... Meg price 22p 'I've just sold out'. sell sell sell Four hours later MEG price gains 12%. No wonder you drive a Skoda (I'm assuming you are keeping up the payments and it hasn't been repoed yet).
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