Omega Share Discussion Threads

[oranges] 30/1/2006 10:59

Kombimatic what do you mean?????

[kombimatec] 30/1/2006 09:06

Thanks for bringing to my attention by posting it on another thread. I Have decided to make this my first ever short.

[oranges] 29/1/2006 14:36

I too believe that there is an interesting development to be unfolded shortly. Increasing capacity and variant product range perhaps?

[omega] 28/1/2006 20:24

good news to come...watch and keep watching.

[nig295] 27/1/2006 11:49

It just seems to be following the graph trend, sharp rise followed by dribble down to new low, sharp rise followed by dribble down to new low. Hope to be wrong as I am still red from last year and had big hopes for these when I jumped in. It has to be one of the quietest shares as far as BB activity goes. Having said that so is SMC which has done 100% over the previous months.

[dirtysteve] 27/1/2006 11:35

Some nice movement but quiet on here and can't find any news.

[oranges] 16/12/2005 18:21

Dirtysteve, I think you have done quite well buying into Omega at this time, I would like to top up my holding, Maybe on Monday. Company is doing quite well I believe.

[dirtysteve] 09/12/2005 13:37

Just in at 142 mid price. Had to pay 145.75 tho. Still a cheap price to pay I hope. Very quiet thread tho. Any latest news? Figures? Gossip? Rumours?

[neefax] 15/9/2005 18:31

Nice set of figures today from Omega. Consistent growth in profit and useful dividend announced. I believe that this management team have got the formula right for the medium to longer term.

[neefax] 11/6/2005 14:01

nig295, you have far from bought a dud! Omega are certainly doing quite well in what I think are 'far from easy' trading conditions. The company have a fairly robust set of 'independent retailers' who are offering the Omega product range to a more discerning clientel, ( who I think are more affluent than the typical 'shed' customer ).

I am a holder of this stock and intend to add to my holding shortly.

[nig295] 18/5/2005 18:46

I just bought into this today on a recommendation, came to see what everyone is saying about the Co and the place has been empty for 2 months. Have I bought a dud?

[nig295] 18/5/2005 18:45

I just bought into this today on a recommendation, came to see what everyone is saying about the Co and the place has been empty for 2 months. Have I bought a dud?

[peladon] 24/3/2005 07:58

Omega International Group PLC
24 March 2005


For Immediate Release 24 March 2005


OMEGA INTERNATIONAL GROUP PLC

MAIDEN FINAL RESULTS

Omega International Group PLC, a leading UK manufacturer of branded kitchen
furniture, today announces its maiden final results for the year ended 31
December 2004.

Omega was successfully admitted to AIM in April 2004, raising £9.5 million.

KEY POINTS

Increase 2004 2003

• Turnover 20% £21.3m £17.8m

• Operating Profit 41% £4.1m £2.9m

• Pre tax profit 47% £3.9m £2.6m

• Basic earnings per share 8% 8.3p 7.7p

• Adjusted earnings per share* 32% 10.2p 7.7p

• Successful admission to AIM in April 2004 raising £2.25m of new money, used
primarily to redeem all of the Group's preference shares and to pay related
dividend liabilities

• Dividend of 1.5p per share proposed payable on 8 July 2005 to shareholders
recorded on the register on 10 June 2005

* Adjusted for an exceptional tax credit and preference dividend

Commenting on the results Chairman, Bob Murray, said:

'I am delighted to be reporting these strong results. The Directors are
confident that the product launches in 2005, together with improved
distribution, will lead to further growth in volumes, margins and profit.'


For further information, please contact:


Omega International Group plc: Tel: [phone]
Francis Galvin: Group Chief Executive
Martin Levitt: Finance Director
Buchanan Communications: Tel: [phone]
Mark Edwards e-mail:
[e-mail]
Nicola Cronk

Notes to editors:

The Group's core business is the design, manufacture and marketing of branded
kitchen furniture through three main brands: Sheraton, Omega and Chippendale.
These three brands are sold throughout the UK, mainly to independent retailers.

The Group's manufacturing, distribution and sales facilities are located in its
205,000 square ft. purpose built factory complex in Thorne, Doncaster, adjacent
to the M18 motorway.

CHAIRMAN'S STATEMENT

I am pleased to report that the year ended 31 December 2004 reflected a period
of significant achievement and importance for the Group.

The Company was successfully admitted to the Alternative Investment Market of
the London Stock Exchange on 13 April 2004. This achieved a key objective and
allowed the Company to redeem all remaining preference shares and to pay in full
the associated dividend liabilities. The increase in our share price since
flotation reflects how well the listing was received.

The financial performance of the Group has been robust with turnover at a record
£21.3m (2003:£17.8m). We recorded a 47% gross margin (2003:44%) and an
operating margin of 19% (2003:16%). Operating profit has grown by 41% to £4.1m
which reflects economies of scale and improved efficiencies on incremental
volumes. Cash flow has been strong, allowing the early repayment of some £1.3m
of long term debt.

The Directors are proposing a maiden dividend of 1.5p per ordinary share payable
on 8 July 2005.

The Group's strategy continues to focus strongly on increased development of its
kitchen brands and expanded distribution through independent retail outlets
nationwide in the replacement and new build markets.

Current trading is in line with expectations and the Directors are confident
that the product launches in 2005, together with improved distribution, will
lead to further growth in volumes, margins and profit.

On behalf of the Group, I would like to thank all of our customers and suppliers
as well as our own skilled and dedicated staff, who now number over 200, for
their support, commitment and energy throughout the year.

R S MURRAY CBE FCCA
CHAIRMAN

23 March 2005


CHIEF EXECUTIVE'S REPORT

Omega's three brands Sheraton, Omega Kitchens and Chippendale Kitchens are
distributed and sold through a national network of specialist kitchen outlets,
the majority of which are independent retailers.

Omega had a very good year with progress being made in all areas of the
business.

The Group continued with its investment in expanding and strengthening its
display base on all three brands by taking on new displaying dealers as well as
adding displays of new kitchen ranges within existing outlets.

During 2004 Omega also increased its focus on sales activity in the South where
historically its distribution has not been as concentrated. This ongoing
initiative is expected to gain momentum throughout 2005 and make an increased
contribution to the business.

New product development continues to be a key area for the Group. Twenty new
kitchens were launched during 2004 across all three brands helping to improve
yields per outlet as well as refreshing the mix of kitchens on display
nationally.

Omega continues to work closely with its displaying outlets, utilising its
national sales force to motivate dealers and their staff as well as constructing
tailored marketing packages including showroom layouts, staff training, CAD
planning and quotations, product promotions and support materials. Our modest
market share should allow us to continue with our growth plans even if market
conditions ease.

The operational side of the business also made significant progress. Production
volumes increased by around 20% in line with sales growth and manufacturing
volumes per operative improved by over 18% in the year.

Service levels remained consistently high, averaging 96 % of all kitchens being
despatched complete and on time to our dealers or their customers' home
addresses.

The Group continues with its successful formula into 2005, targeting additional
new display outlets and further strengthening the existing display network.
Four new kitchens have been launched into Sheraton this month and a new product
development programme for Omega Kitchens and Chippendale Kitchens is now
underway with launches planned for September 2005.


FRANCIS GALVIN
CHIEF EXECUTIVE

23 March 2005


FINANCIAL REVIEW

Trading

Turnover grew by 20% to £21.3m from £17.8m in 2003. Increased volumes and
improved cost controls allowed gross margins to reach 47% up from 44% in 2003.
Further, operational efficiencies allowed operating margins to reach 19 % for
the year compared with 16% in 2003.

Unusual items

The consolidated profit and loss account includes a tax charge that is much
lower than the statutory rate of 30%. This arose from statutory deductions of
£3 million available to the Group through the exercise of EMI share options by
the Executive Directors on the flotation of the Company.

On flotation, all the Company's previously issued preference shares were
redeemed together with deferred dividend payments of £1.4 million arising on
redemption.

In view of the significance of these unusual items, an adjusted earnings per
share calculation has been presented that excludes their impact on reported
results.

Cashflow

The placing of new shares on flotation and the exercise of options raised £2.06
million net of expenses which was used mainly to redeem the remaining preference
shares and to pay the deferred dividend referred to above.

Operating cash flows at £4.9 m against £1.8 million in 2003 reflected both the
improved profitability and control of working capital, especially stock levels
which reduced slightly year on year. Capital expenditure totalled £0.7m,
leaving the remainder of cash flows, after the payment of £0.6m in Corporation
Tax, to service and reduce net debt.

Capital structure

The Group is now funded by equity and medium term borrowings from Lloyds TSB
Bank plc. Early repayments of the ten year loan from the bank have resulted in
a year end balance of £2.1 million (2003 - £3.8 million). Other borrowings at
the beginning of the year of £1.3 million were repaid in full, leaving net
gearing of 15% at year end.

Both medium and short term facilities are payable in sterling and carry interest
linked to base rate.

Treasury

The Group's current policy is to use floating interest rates on its debt and any
surplus funds are placed on deposit daily. However, when commitments allow,
early repayments will continue to be made on the medium term debt rather than
placing funds on deposit.

About one third of the Group's purchases of material are made in Euros. It is
the Group's policy to purchase Euros using forward options when rates are
favourable. This though is usually for less than the next half year's purchases
and the purchase of forward currency, if any, is delegated to the Finance and
Operations Directors, acting together.

MARTIN LEVITT FCA
FINANCE DIRECTOR

23 March 2005


CONSOLIDATED PROFIT & LOSS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2004

Notes Audited Audited
2004 2003
£'000 £'000


Turnover 2 21,326 17,845

Cost of sales (11,232) (9,922)
Gross profit 10,094 7,923
Other operating expenses (6,007) (5,018)
Operating profit 4,087 2,905
Net interest payable (230) (277)
Profit before tax 3,857 2,628
Tax on profit on ordinary activities 3 (266) (792)
Profit for the financial year 3,591 1,836

Dividends 4 (1,827) (94)

Retained profit for the year 1,764 1,742


Basic and diluted earnings per share (pence) 5 8.3 7.7

Basic and diluted adjusted earnings per share (pence) 5 10.2 7.7


All activities of the Group are continuing.

There is no material difference between reported and historical cost profits and
losses.

There were no recognised gains and losses for both of the years ended 31
December 2003 and 2004 other than the profit for the year.

CONSOLIDATED BALANCE SHEET AT 31 DECEMBER 2004

Notes Audited Audited
2004 2003
£'000 £ '000

Fixed assets
Intangible assets 22 29
Tangible assets 11,832 11,897
11,854 11,926

Current assets
Stocks 3,125 3,386
Debtors 3,363 3,176
Cash 327 -
6,815 6,562
Creditors: amounts falling
due within one year (4,468) (5,640)

Net current assets 2,347 922
Total assets less current liabilities 14,201 12,848

Creditors: amounts falling due
after more than one year (1,806) (3,658)
Provision for liabilities and charges (535) (459)

Net assets 11,860 8,731

Capital and reserves
Called-up share capital 2,776 2,977
Share premium account 1,563 -
Capital redemption reserve 3,096 2,746
Revaluation reserve 4,440 4,462
Profit and loss account (15) (1,454)
Shareholders' funds 6 11,860 8,731

Attributable to:
Equity interests 11,860 6,641
Non-equity interests - 2,090
Shareholders' funds 11,860 8,731


CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2004

Notes Audited Audited
2004 2003
£'000 £'000

Net cash inflow from operating activities 7 4,878 1,816

Returns on investments and servicing
of finance
Interest paid (234) (277)
Preference dividends paid (1,426) (122)
Net cash outflow from returns on
investments and servicing of finance (1,660) (399)

Taxation (620) -

Capital expenditure and financial investment
Purchase of tangible fixed assets (669) (1,011)
Sale of tangible fixed assets 30 62
Grants received for capital expenditure 23 -
Net cash used for capital expenditure and
financial investment (616) (949)

Net cash inflow before use of liquid
resources and financing 1,982 468

Financing
Issue of shares 2,550 -
Costs of share issue (488) -
Redemption of preference shares (700) (1,300)
Bank loans - 4,275
Repayment of bank loans (1,929) (3,914)
Repayment of other loan (50) (100)
Net cash outflow from financing (617) (1,039)

Increase/(decrease) in cash in the year 8 1,365 (571)


NOTES TO THE PRELIMINARY ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2004


1. BASIS OF PREPARATION

The audited consolidated financial information for the year ended
31 December 2004 has been prepared in accordance with applicable UK
accounting standards and the accounting policies disclosed in the Group's
accounts for the year ended 31 December 2003. The financial information
included in this announcement has been extracted from the audited financial
statements for the years ended 31 December 2004 and 2003. The content of
this announcement has been agreed with the Company's auditors.

This preliminary announcement does not constitute the Group's financial
statements. The Group's 2004 Annual Report and Financial Statements, on
which the Company's auditors, PricewaterhouseCoopers LLP, have given an
unqualified opinion in accordance with Section 235 of the Companies Act
1985, are to be delivered to the Registrar of Companies. The Group's 2003
accounts, which contain an unqualified audit report, have been filed with
the Registrar of Companies. Copies of the Group's 2004 Annual Report and
Financial Statements will be posted to all shareholders during April 2005.

2. TURNOVER

Turnover, operating profits and net assets are derived from within the
United Kingdom and are from the Group's principal activity of the
manufacture and marketing of branded consumer products.

3. TAX ON PROFIT ON ORDINARY ACTIVITIES

a) Analysis of charge in year


Audited Audited
2004 2003
£'000 £'000
Current tax
UK Corporation tax on profit for the year 188 618
Adjustment for prior years 2 -
190 618

Deferred tax
Deferred tax at 30% 71 183
Adjustment for prior years 5 (9)
76 174
Tax on profit on ordinary activities 266 792


NOTES TO THE PRELIMINARY ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2004


3. TAX ON PROFIT ON ORDINARY ACTIVITIES (continued)

b) Factors affecting tax charge for the year

The taxation assessed for the year is lower than the standard rate of
30% as set out below-


Audited Audited
2004 2003
£'000 £'000

Profit on ordinary activities before taxation 3,857 2,628
Profit on ordinary activities multiplied by the
standard rate of corporation tax in the

UK of 30% (2003 - 30%) 1,157 788
Expenses not deductible for tax purposes 25 13
Capital allowances in excess of depreciation (65) (106)
Short term timing differences (6) (1)
Utilisation of tax losses brought forward - (76)
Statutory deduction for exercise of share options (900) -
Effect of small companies and marginal tax rates (23) -
Adjustment in respect of prior years 2 -
190 618

c) Factors that may affect future current tax charges

Future tax charges are expected to increase as all brought forward
losses have been utilised, the significant statutory deduction on the
exercise of share options is not expected to recur, and the excess of
capital allowances over depreciation is expected to fall over the next
few years.

4. DIVIDENDS
Audited Audited
2004 2003
£'000 £'000
Equity
Proposed final dividend of 1.5p per share 416 -

Non-Equity
Regular dividends paid 26 122
Appropriation of profit
in respect of preference shares (15) (28)
Deferred dividend paid 1,400 -
1,411 94
Total dividends 1,827 94

5. EARNINGS PER SHARE

Basic earnings per share of 8.3p (2003:7.7p) is calculated by dividing the
earnings attributable to ordinary shareholders by the weighted average
number of ordinary shares in issue during the year.

Diluted earnings per share reflect the adjustment of the weighted average
number of ordinary shares in issue to assume conversion of all dilutive
potential ordinary shares, being outstanding share options.


NOTES TO THE PRELIMINARY ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2004


5. EARNINGS PER SHARE (continued)

The number of shares has been adjusted to calculate earnings per share as
though the 10 for 1 share split on 13 April 2004 had been in effect
throughout both 2003 and 2004.

Weighted average number of shares:
Audited Audited
2004 2003

For basic earnings per share 26,356,537 22,770,000
Share options 48,510 -
For diluted earnings per share 26,405,047 22,770,000

The share options outstanding at 31 December 2003 were not dilutive under
the provisions of FRS14. The dilution above at 31 December 2004 does not
give rise to a difference between basic and diluted earnings per share.

The earnings attributable to ordinary shareholders used in the calculation
of basic and diluted earnings per share reflect:

Audited Audited
2004 2003
£'000 £'000

Profit for the period 3,591 1,836
Dividends - non equity (1,411) (94)
2,180 1,742

Adjusted earnings used in the calculation of basic and diluted earnings per
share reconciles to basic earnings as follows:

Audited Audited
2004 2003
£'000 £'000

Basic earnings (as above) 2,180 1,742
Exceptional tax credit generated by the
exercise of Directors' share options
immediately prior to flotation (900) -
Deferred preference dividend payable on flotation 1,400 -
Adjusted earnings 2,680 1,742

Adjusted earnings per share is provided in order that the effect of these
one-off items can be fully appreciated.


NOTES TO THE PRELIMINARY ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2004


6. RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS

Audited Audited
2004 2003
£'000 £'000

Profit for the year 3,591 1,836
Preference dividends (1,411) (94)
Preference share redemptions (700) (1,300)
Ordinary dividends (416) -
Share option expense 3 -
Issue of ordinary shares 2,550 -
Cost of share issue (488) -
Net addition to shareholders' funds 3,129 442
As at 1 January 8,731 8,289
As at 31 December 11,860 8,731

7. RECONCILIATION OF OPERATING PROFIT TO NET CASH INFLOW FROM OPERATING
ACTIVITIES

Audited Audited
2004 2003
£'000 £'000

Operating profit 4,087 2,905
Depreciation and amortisation 518 444
(Profit)/loss on disposal of fixed assets 14 (1)
Share option expense 3 -
Grant released from deferred income (39) (35)
(Increase)/decrease in stocks 261 (1,045)
Increase in debtors (210) (431)
Increase/(decrease) in creditors 244 (21)
Net cash inflow from operating activities 4,878 1,816


8. RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET DEBT

Audited Audited
2004 2003
£'000 £'000

Increase/(decrease) in cash 1,365 (571)
Net decrease/(increase) in debt 1,979 (262)
3,344 (833)
Net debt at 1 January (5,117) (4,284)
Net debt at 31 December (1,773) (5,117)

[neefax] 12/3/2005 09:40

I bought early yesterday, figures are out 24th March, I anticipate a good set of accounts, more interesting though will be any news of expansion plans. I believe that the management are highly motivated, not just by money, but the achievement of growing a company organically must be really fulfilling.

[omega] 11/3/2005 20:53

£2.00 on the way, damn and blast, i wish i picked up more.. oh well be content with what i have.. looking good.

[neefax] 05/3/2005 11:24

Interesting observations, I too have knowledge of their trading by simply visiting a couple of retailers and looking at the range. Speaking to the sales staff and assuming that their comments are genuine, it would appear that the Omega range is very well respected and sales are bouyant. Figures are out March 24th, very excited about them, will they announce a dividend, my betting is YES, this will along with report and accounts could well propel the price beyond the £2 mark, I'm a holder and I'm in for the next few years.

[omega] 04/3/2005 20:58

pardon the coincedence on my name, without giving too much info away the company will report a massive profit in first year unfortunately i did not buy in,wish i had, i have a colleague who sells their products and they are definately going to be a big player in the kitchen market with good money being plowed back in and staffing levels already to the bone,ripe for a good return, i missed the boat, or have i, may still get in.

[neefax] 01/3/2005 10:03

Shares are so tightly held its almost impossible to buy any significant quantity. I guess a share split is in the offing, one for one is my bet. Company is performing remarkably in mediocre trading conditions. Expect a trading update soon.

[peladon] 28/2/2005 18:19

Nice rise - anyone know why?

[neefax] 31/12/2004 06:55

Beware, directors embargo on selling shares ends today, there may well be a lot of stock becoming available. I guess that the stock will be placed rather than flooding the market. We will wait and see.

[easytimes] 30/12/2004 20:00

It means nothing I just edited out a comment. The share price is doing very well looks like the MMs are short of stock, what stock is available appears to be tightly held and nobody is selling by the looks of it. The only problem with this share is the huge spread, the positive is the market they're in is growing rapidly and the potential capacity to feed that demand is already in place. I do not know of any news but I do know the charts are very positive for those that trade stocks (my point & figure chart showed up a buy signal on 22.12.04 @160p which could mean the party has just started).

[neefax] 30/12/2004 15:34

easytimes, what does this mean .

Omega shareprice is doing rather well!

[neefax] 12/11/2004 10:03

The key component of this outfit, is its extremely competent management team and structure. Clearly a wealth of experience in their chosen sector would indicate that they have a clear business plan for the next three or four years, which should prove to be good for investors.