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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Office2Off. | OFF | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 50.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 50.00 | 50.00 |
| Top Posts |
|---|
Posted at 21/8/2014 07:48 by mathewawood 51p offer recommended by the board. Done deal. Yippee! |
Posted at 29/5/2014 13:44 by dangersimpson2 They issued a trading statement just 13 days ago! and they've never issued an agm statement before just a agm results notice so I think you are reading too much into this. Not much can change in 13 days - the main business is trading in line and we don't need another rns just to tell us that. The key to further rises is making sure Gerber doesn't get to reverse what I consider poor quality businesses with no synergies into off. |
Posted at 28/5/2014 16:38 by boonkoh Good to see some volume yesterday and today driving up the price before the AGM tomorrow. Better than high volume and dip.Even if the board fights off Gerber tomorrow, how far can the shares rerate? It was already sub 30p before the Gerber approach, and the latest IMS indicated trading only in line with expectations. |
Posted at 28/4/2014 12:09 by empirestate The Americans do tend to over price the value of their assets imo. Gerber's valuation of OFF did amount to 39p which is rather ridiculous despite being a decent premium to todays share price I would prefer things to get hostile, which could well be the way it goes considering it's not going to take much money for him to reach 30% at current prices. A nice trading statement from the management showing improved performance and forward guidance would certainly get the share price going. I am convinced that 565k last week was Gerber acquiring more stock. The market is paying a decent premium for stock today which as said earlier gives me the impression that he has another buy order on the table. It's all getting rather interesting and certainly worth voting against Gerber's proposal. |
Posted at 08/4/2014 08:31 by boonkoh Cheaper this way coming in reverse. Dilute the hell out of existing shareholders. Will be interesting to see how much support he gets from existing shareholder base of OFF |
Posted at 02/4/2014 20:11 by simon gordon FT - 2/4/14:Office2Office says a dividend unlikely Office2Office has warned that an expected fall in profits will make a resumption of dividend payments unlikely giving fresh impetus to attempts by a US investor to shake up the stationery supplier's board. The company an offshoot of the privatised Her Majesty's Stationery Office, and listed on the London Stock Exchange in 2004 is under attack by Nicholas Gerber, entrepreneur and founder of Ameristock Funds, a California-based investment group. Since selling out of Ameristock last year, Mr Gerber has amassed a 9 per cent stake in Office2Office, into which he intends to reverse two of his other US businesses. Mr Gerber is the latest, albeit the least ambitious, of a series of powerful US activist investors who have crossed the Atlantic with the intention of shaking up UK and European companies. Among these activists are the hedge fund Elliott Associates, pushing struggling grocer Wm Morrison to release value from its property portfolio, and Sandell Asset Management, pressing FirstGroup to sell its Greyhound bus business in the US. By contrast, Office2Office is a very small company with a market capitalisation of £8m and debt of £22m. It has struggled since 2007, when the Ministry of Defence then its biggest customer put its stationery contract out to tender. Office2Office has cut costs and debt, diversifying into areas such as shredding and recycling paper; storing documents and data; and managing online communications. Core business profit margins remain pressed by a general shift to paperless offices, and digital competition. Last week, the company said Mr Gerber had applied to add six resolutions to the agenda at the company's annual shareholder meeting on 29 May: to replace the chairman, and two non-executive directors with himself and two other candidates. It is not the first time that Mr Gerber has thought of reversing his companies into a UK company. Last year, he says he looked at approaching Thorntons, the confectioner, but he did not buy shares in the group and the idea came to nothing. On Wednesday, Office2Office reported revenues of £232m for 2013, against £227m a year earlier and unchanged underlying pre-tax profits of £4.2m. It again passed on paying a dividend. Stated pre-tax profits were £1.8m against a loss of £1.63m in 2012, after they were restated to reflect changes in accounting and revenue recognition Jim Cohen, the chairman whom Mr Gerber hopes to replace, said: "We are concerned that the office supplies market as a whole will not improve in 2014, so we remain of the view that underlying profit in 2014 is likely to fall short of 2013." He noted that customers' buying habits have "changed over the past two years, with a focus on lower cost products, buying little and often". |
Posted at 02/4/2014 07:51 by empirestate so no divi and not a rosey outlook. market will punish this at the open, so it should be worth buying a few on the discount imo. |
Posted at 22/1/2014 08:20 by drunken monkey I think Mark Twain put it best - "The reports of my death have been greatly exaggerated."OFF isn't dead & its still managing to make some money and pay down debt. No doubt, business practices are evolving and certain records remain digital thoughout their lifetime. However, the "paper free" office hasn't (and in my opinion won't in my lifetime) materialised - rather like the office block being made redundant as home working took over the world. I would suggest taking a little time to check out empty office space compared to 2 years ago. So, whilst I partially agree that certain products will has a less significant role to play in the workplace, the actual total workplace size is growing and this will more than cancel out moves to digitise records. I suppose that I take some additional comfort that the actual trigger for my entry was price movements indicating that there were some large delayed buys occuring. Always nice to side with someone who has deep pockets made so by being right about investment decisions... |
Posted at 24/11/2013 16:39 by simon gordon Any thoughts on how much the Office Supplies (Managed Procurment) division would be worth if they sold it off:2010 T/O - 145.7m EBITA - 16.4m 2011 T/O - 131m EBITA - 13.5m 2012 T/O - 147.7m EBITA - 11.2m 2013 must be down on 2012, have to wait until March 2014 to find by how much. 2014 could be stable with the cost cuts, maybe at 9m? Banner Division (Business Critical Services): 2010 T/O - 62m EBITA - 5.4m 2011 T/O - 62.5m EBITA - 6.6m 2012 T/O - 79.6m EBITA - 6.98m 2013 will see profit held back by contract set up costs, 2014 should show a good improvement. How much would this division be worth as a separate entity with no/low debt? Central costs for OFF were 9.5m in 2012, how much would they be for a separate Banner division? |
Posted at 15/11/2013 13:49 by aishah Office supplies company Office2office (LON:OFF) has issued an IMS which says they are trading in line with expectations. - shows very attractive valuation figures - a forward PER of just 3.2, and a dividend yield of 17%. So obviously I had to check that out! As always, such figures are too good to be true, and in this case the interim dividend was passed, with no decision yet made on whether there will be any final dividend.However, that pales into insignificance when you see how bad the Balance Sheet is here - it's one of the worst I've seen in a while. Net assets are £17.3m, but that includes £57.4m in intangibles. Write those off, and the net tangible asset value is negative to the tune of £40m! Sorry, but that's just horrendous. Net debt was reduced to £23.3m at the last reported Balance Sheet date of 30 Jun 2013. Bear in mind that the company only made £2.7m operating profit last year, and interest on debt consumed most of that, at £2.1m. So really this company is completely at the mercy of their Bank, and should therefore be regarded as very high risk. It looks to me as if they are stretching their trade creditors quite hard too, so all in all this is a company in a highly precarious situation. There is no getting away from the simple fact that they need to do an equity fundraising to fix their Balance Sheet. - See more at: |
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