Porta Communications Share Discussion Threads

[mikemo2] 24/5/2016 11:04

needs more looking over but some glaring red flags. Mostly, why on earth are these unaudited nearly 5 months after the year end???!!!

UK revenue is 61% of Group total and the UK is going to slow down this year with loads more senior hire costs added on. given it had an operating loss of £4.7m this year that won't help.

banging on about being cash flow positive for first time ever. So why did they need yet another £250k loan for working cap just last month from the bank of Hawk??

they keep talking about double digit growth versus single digit for the rest of the industry. Wow. Comparing what they keep claiming is a start up against mature (and yes, profitable) companies is hardly apples for apples.

all smoke and mirrors yet again

[speedsgh] 24/5/2016 10:42

Relatively downbeat interview with CEO David Wright (who appears to have done away with the spectacles). Sounds like the hiatus caused by Brexit uncertainty is going to weigh on figures in the current FY, compounded by the recruitment cost of some 'big hitters'. One day, Rodney, one day...

Porta Communications chief looks to double the size of its Australia business -

David Wright, chief executive of Porta Communications PLC (LON:PTCM) says he is “pretty pleased” with the company’s preliminary results released on Tuesday morning. Underlying earnings [EBITDA] rose 27% in the year, while gross profit was almost 40% higher, with organic growth of 14% ahead of the low single figure sector average. Wright tells Proactive that the company integrated three acquisitions in the period, Redleaf Communications, Puclicasity and PPS Group, with all performing well and generating “quite a lot of cash”. Away from the UK, he says operations in Australia have had “another sensational year”, adding that Porta is looking to “double the size of the business going forward”.

[salpara111] 24/5/2016 09:35

That is one of the things that really annoys me....the way they cherry pick the figures they want to use as comparatives.
I guess the fact that they are now strongly cash generative it means the business is not in any danger so I guess with the share price so low there is little downside but equally what is going to cause it to rise?
The new management have a hell of a job on their hands to get to their vesting point of 13p!

[pelliot] 24/5/2016 09:29

How can you have 836 clients and still report dross figures like this? At least EBITDA less costs, lunch bills, post-it notes and paperclips is up 447% - classy reporting!!

[salpara111] 24/5/2016 08:36

Looks like I a will be exiting here.
It really has become a "jam tomorrow" company
I will give it a week or two before making a decision.

[jefftwo] 24/5/2016 07:59

Not perfect but the best set of results we have ever seen from Porta

[markie7] 24/5/2016 07:14

Loads of exceptionals, a slower 2016, and more costs in 2016 too. Debt rolled on. Looks very flat tone to me and pretty perfunctory

[pelliot] 24/5/2016 03:27

Looking for clean profit with none of the usual exceptionals!Will they try and pull the wool over our eyes again or produce some proper numbers after 5 years! Try a bit of honesty rather than reporting inane gross profit numbers and a nonsense summary on the front page which fools no-one. Usually we can understand more about Porta by what they no longer talk about rather than what they do.All eyes will be on the remuneration page of the annual report to see if this is a properly run business or jobs for the boys taking the p!ss out of shareholders.Expecting a small rise in price by buyers fooled by the statement followed by a raft of sellers who read it properly.

[guildedge] 23/5/2016 18:39

Been looking on ADVFN and it appears someone has written about Porta.

Opportunity 4 Material Gains 20/05/2016. You apparently have to subscribe to read it. Has anyone read this?? Very encouraged by todays trading. Looks like the article got a few people buying. Between LSE and ISDX there was nearly 250k worth of buys.

@ Salpara - Any share would of been hit hard by a smaller fund dumping 3-4M+ shares. A lot of that stock has now been cleared by other investors. Porta is securing a nice string of new contracts here. Including the one on Friday. They have made mistakes in the past. This is a start up which could be turning over 27-35M this year. Yet valued by the market at only 16-17M. I think the share is worth at least 9-10p here. It's unreasonable to expect a dividend on a growth company so early on that is yet to make a profit.

When Porta reaches economies of scales the profits will come. We just have to be patient. I personally think they are turning things around. Let's see what tomorrow brings.

[jefftwo] 23/5/2016 18:08

Reduction in debt and a positive ebitda will be good for starters.I do think a dividend is at least a year off but I am open to pleasant surprises

[salpara111] 23/5/2016 09:37

Sadly I guess that there are huge numbers of holders like myself who will sell into any rally given the serious underperformance of the share price over the last few years.
I am just hoping that the new management announce a halt to value destroying acquisitions which wont be difficult as they cant issue new equity and I seriously doubt that any bank will be willing to lend to them at present.
They need to announce an intention to start paying a divi as that will give investors an indication that they intend to run the company in a fiscally responsible manner going forward. The divi doesn't have to be much but its mere presence will change the way the market views the business.

[guildedge] 19/5/2016 16:50

New contract for Newgate and 2012.

hxxp://www.gorkana.com/2016/05/parker-fitzgerald-appoints-newgate-communications/

Parker Fitzgerald appoints Newgate Communications - Marketing and Corporate Communications.

[jefftwo] 18/5/2016 16:26

YesPositive at last

[qs99] 18/5/2016 15:10

Interesting to see the small nudges up ahead of the results....

[guildedge] 11/5/2016 17:51

Investors page has been updated today.

Most of the changes relate to the issue of shares to Redleaf a month or so back. Which means HH still have 5.58%. Just to note Redleaf's owners are tied in for 2 years from April 24th and then a 12 month of orderly market period. 100% not Redleaf owners selling here. (Just reread 2014 RNS.)

So either another fund below 3% has been selling or maybe HH have simply not updated Porta? I suspect another unknown fund or large PI.

Overall Fidelity down 0.04%, HH no change, Stephen Blyfield -0.03%, Ruffers no change and Gary Wyatt -0.03%. None of these changes are related to investors over 3% selling.

'Other Shareholders

Fidelity 5.76%
Hargreave Hale 5.58%
Stephen Byfield 5.33%
Ruffer LLP 4.82%
Gary Wyatt 3.22%

Percentage of the Company’s issued share capital that is not in public hands.

In accordance with the AIM Rule 26, in so far as the Company is aware, the percentage of the Company’s issued share capital that is not in public hands is 25.46%.

Page updated 11 May 2016'

[guildedge] 10/5/2016 21:00

Well we don't know what the directors are doing. I see no reason why Porta should bring the results forward just because a fund/large invester starts selling? Pelliot suggested some of the funds had a 3 year tie in. So perhaps he is right about the VCT funds selling out. It could also be Redleaf?? Seems unlikely as they would have only 6m or so shares. I don't think Ruffers has any tie ins.

If Porta are still working on acquisitions? (Again unlikely now given 2 weeks to results.) they would be locked out anyway. So it might be a pointless exercise bringing the results forward.

If the firm is doing as well as last TU suggests why would the directors not buy at these prices?? They'll want to support the share price and grab themselves a bargain.

See what happens in next 2 weeks.

[oldie52] 10/5/2016 17:09

Just because they have always done it doesn't make it right. The share price is close to an all time low, according to you Directors want to buy at these levels, and they still cant be bothered to bring forward the results.

[guildedge] 10/5/2016 16:47

Oldie - They have always done that.

I would wait for a late trade here. may come 1-2 days later. I wonder if another 2.6M shares or so have been sold? 9-10% on 210k seems silly. One theory is HH want to clear their stock before the results.

[oldie52] 10/5/2016 16:24

Results 24 May. cant come soon enough. There will have to be some fantastic news to get this dog of a share price moving.
Amazed to see they are preliminary results not finals. What the hell do the accounts people do all day

[guildedge] 09/5/2016 17:34

Contract win for Publicasity.

hxxp://www.gorkana.com/2016/05/publicasity-promotes-luxury-glove-brand-gizelle-renee/

No real opinion on the results. They are always near end of May. Always buyers and seller here. HH still clearing seems most likely. share price is holding at present.

Still no sign of acquisitions. Acquisitions seems highly unlikely given share price See what the results bring.

[jefftwo] 04/5/2016 11:42

Pelliott I do believe it's late MayCould be interesting this time aroundI would like to see a debt reduction and positive ebitdaRevenue appears to be good but costs have also risenLet's hope that all the one off costs are finally put to bedI do believe this time around the news will be good and hopefully the share price will reflect

[pelliot] 04/5/2016 09:48

jeff - where there are big buyers there are obviously big sellers. when are results, it seems to be taking along time to do the maths?

[jefftwo] 04/5/2016 07:57

All looking very interesting in the build up to the results.Some big buyers taking whatever they can get hold of.Seems like company is trading well and only a matter of time before this is reflected in SPSurprised we havnt seen a holdings update

[markie7] 22/4/2016 19:58

I agree all this MIGHT happen, but you really need to start to look at what IS happening. Less than 1% volume is not that much.