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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Punch Graphix | PGX | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 122.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 122.00 | 122.00 |
| Top Posts |
|---|
Posted at 09/1/2007 11:32 by sivadnoj Punch Graphix repeats view that Punch Intl's 128p/shr offer undervalues co 121 words 9 January 2007 11:23 AFX UK Focus English Copyright AFX News, 2007 All reproduction and presentation rights reserved. LONDON (AFX) - Punch Graphix PLC reiterated its view that Punch International NV's 128 pence a share mandatory offer for the company would allow Punch International to acquire control of the group 'without paying appropriate value'. Punch Graphix said it 'strongly' advises shareholders to take no action regarding their shares in the company. This is all fine but at some stage they are going to have to start explaining why they consider that the offer undervalues the company and respond to the suggestion that the business has not been managed effectively or efficiently. Although the share price continues to trade around the offer price, a question mark remains over management's credibility in light of the comments made by PI. Presumably PGX will need to respond to this. |
Posted at 30/12/2006 06:27 by kluk069 The market had provided a clear verdict this autumn on the future for pgx and that was unequivocally positive. The actions of PI are not only opportunistic but also without merit and the comments of shuisky are spot on - I trust such heavyweight institutions as those mentioned will have the decency to do the right thing and treat the offer with the contempt it undoubtedly deserves. |
Posted at 16/11/2006 15:38 by shuisky A hunch tells me that the current bout of selling is in response to the disapponting q3 results from Agfa. The headline numbers are misleading......the reality is that... 'The continuous double-digit growth of digital printing plates and the increasing impact of the pricing initiatives were offset by adverse currency effects and the discontinuation of some unprofitable business of analog printing consumables.' Double digit growth is fine. Furthermore... 'A number of important contracts confirmed Graphics' market leader position for newspaper CtP technology and software. In North America and Latin America, Agfa is playing a major part in the shift to digital CtP technology, as numerous newspapers have recently purchased the company's popular :Advantage violet-laser platesetter and :Arkitex software. At IfraExpo, an annual event for the newspaper industry held in Amsterdam, Graphics signed contracts for 20 complete digital violet CtP lines with major European newspaper publishers, such as WAZ (Germany), Wegener Groep (the Netherlands) and La Nueva España (Editorial Prensa Iberica) (Spain).' Of course, PGX makes the Advantage & Polaris for Agfa. |
Posted at 05/11/2006 12:24 by tole Nice part on the 750 - 1000 new leads for PGX :)Graphic Arts Show Company claims success at Graph Expo Reston, VA; November 3, 2006 The Graphic Arts Show Company (GASC) claims that with more than 630 exhibitors filling 440,000 square feet of booth space, the recent Graph Expo was the largest U.S. printing show since 2000. Its education program of nearly 70 sessions reportedly drew a record number of ticket sales, notably the largest registration since 1995, with participants choosing to attend more sessions than in the past. According to GASC, positive experiences of exhibitors confirmed a major resurgence of technology investment throughout the industry. The show also highlighted an industry rapidly progressing to expand its services, capabilities, and value to communicators of all kinds. "We were optimistic; but this is beyond anything that I expected," says James Dunn, president of Heidelberg USA. "As the largest exhibitor at the show and the first that visitors see when they enter the hall, Heidelberg has gained great benefits from the industry recovery. The firm exceeded its show sales goals by the second day." Echoing the positive sentiments, Peter Schmidt, chairman of the board and CEO of Pitman Company says, "We've been to other trade shows, but this is probably the best show I can really remember. The numbers are dramatic and people are in a buying mood." Graph Expo and Converting Expo presented a comprehensive exhibition of technologies for digital prepublishing, prepress, printing, digital output, wide-format imaging, mailing, fulfillment, bindery, and other functions. It offered special display pavilions devoted to Mailing & Fulfillment and Wide-Format Inkjet technologies, along with a program of specialized seminars organized in cooperation with the Mailing & Fulfillment Service Association (MFSA). Sales leads were also plentiful at Punch Graphix, parent company of Xeikon and basysprint. "This is the biggest show of its kind in North America," says Andy Dwivedi, marketing research and communications manager. "We're expecting to come out of this show with 750 to 1000 leads to follow up on." "The caliber of people who attend this show is very high," says Steve Urmano, marketing manager at Mimaki USA, Inc. "This business is all about the closing ratio, and we've generated a strong number of leads that we feel are qualified contacts." At Bowe Bell & Howell, marketing communications specialist Jenny Duke reports that "Graph Expo and Converting Expo has been really busy for us. In two days, we've put together about 600 qualified leads. We're very selective about the shows we attend and this one is the show to see." Next year, the event takes place September 9-12 at McCormick Place in Chicago. Electronic Publishing |
Posted at 28/9/2006 19:05 by tole Also noticed Altium reiterating today.28-Sep-06 Punch Graphix PGX Altium Capital Buy 105.00p 160.00p - Reiteration |
Posted at 28/9/2006 18:39 by tole Punch Graphix - STRONG BUYCompanies: PGX 28/09/2006 Punch says its full year results will be ahead of forecasts, after a strong half-year turn in tricky markets. Spun out of Euronext-listed Punch International last year, Punch Graphix designs digital colour printers under the Xeikon brand (selling related consumables and accessories that offer a good source of recurring sales). It also develops imaging systems for off-set pre-press commercial markets. The results to June demonstrated a 14% up tick in pre-tax profits to 13.3m (£9m), though top line growth was a more modest 7% to 84m (£56.8m). However the revenue result was good going against a record first half of '05, and operating profits were maintained after hefty spending on sales, management and R&D. 'We've shown we can make good margins, and live with the pressure in our markets', explained new chief executive Ben van Assche, who pointed to good performances from the digital printing and pre-press businesses. He also flagged up an encouraging increase in the proportion of consumables sales, from 40% in 2005 to 44%. Analysts at house Altium Securities view Punch as 'significantly undervalued' and rate the shares a strong buy on the basis of underlying market growth, top-line growth from Punch and the benefits to come from new product launches. For the year, expect pre-tax profits to move north from £12.8m to £15.7m, delivering earnings of 10.2p and placing the shares on a budget forward p/e of 10.3. Prospective yields of 3% this year and next also underpin the investment case, as does burgeoning global use of digital printing. Erstwhile parent Punch International still controls 49%, but if you can get your hands on the shares, do so. James Crux Market cap: £108.23m PE Forecast: 10.3 Share price: 105.25p |
Posted at 28/9/2006 07:49 by glasshalfull MorningInterims out. Solid performance from PGX. Last years 1st half was very strong so always the possibility that the figures may mask the progress the company is making. Without going into great detail at the moment (still waking up) it would appear the sales expansion and development of the new Xeikon model have had a bearing on the muted top line growth although pleasing to see the strength of consumable sales and also the statement concluding, 'Performance in the second half to date has continued to be satisfactory and we are confident that trading for the full financial year will be marginally ahead of current market expectations. We remain excited about Punch Graphix's prospects.' I'm unsure of the markets view short term but looking 12-18 months ahead they seem to have laid the foundations for sustainable growth. My take FWIW. Regards GHF |
Posted at 26/9/2006 16:59 by tole Something I didnt notice - PGX was previously covered by iii as a BUY - maybe since it was originally covered at the time of the float Bill Johnston at Watchot might well again be covering this one...just a thought, especially as they they do usually back cover their old recommednations? Anyway - thought i'd re-post it, as it has some usefull information for anyone casting an eye over this one. Buy Punch Graphix at 119.5p Suggests Bill Johnston of Watshot.com One glimpses from time to time the travails which are the outcome of technical change, and of overcapacity in the printing industry, and the imaginative methods which are used to try to deal with - or feed off - this situation. But it is rare for one of the agents of such change to make an appearance in the small-cap market - and Punch Graphix (PGX) is one of them. The real world is complex, and the digital printing systems which are core to the group are not only more efficient than the old ways of doing, but allow shorter run lengths, increased personalisation and the use of colour - at prices which don't scare the customers away. Technically-minded people will be interested I feel in the three principal segments of group activity - Xeikon, specialists in high-end web-fed systems; Strobbe, laser-based computer-to-plate systems used in offset printing systems (newspapers for example); and basysPrint, computer-to-conventi Xeikon presses utilise electrophotographic imaging technology - since the launch of its current 5000 range just one year ago, 82 have been sold or leased - and the total installed base is over 1,110. The products are aimed at customers requiring high-quality printing, but flexibility in operations, and Xeikon claims that its productivity and cost-effectiveness, when allied to the foregoing gives it a general edge in operations, especially in, packaging, labels and other speciality applications. The other two subsidiaries are engaged in the pre-press market, allowing printers to transfer images directly from digital files to printing plate. Strobbe's range (there are three main lines) is targeted mostly at newspapers with some commercial printing and its installed base is 900 strong. The boot is on the other foot with basysPrint with 85% of its 500 machines employed in commercial print shops, and only 15% by newspaper publishers. The company as at present constituted previously represented the graphics division of Punch International; it has been assembled by recent acquisition, and right now looks to be a masterpiece of timing and judgement. Despite the statistics Punch Graphics reckons that all it has really achieved to date are niche positions within two of its chosen sub-sectors in the vast markets addressed and intends to muscle into form and packaging printing markets too. The figures are pretty punchy too as sales of ?65 million in 2002 which became ?87 million in 2003 and ?107 million in 2004 boiled down to net profits of ?750,000, ?5.5 million and ?8 million in the same periods. Current trading is going well - basysPrint did not really figure in the foregoing but has been profitable since its December 2004 acquisition. The strengthened balance sheet is meant to support the international sales and marketing effort of the discrete entity, and to allow the continuance of the core R&D activities. The company is a manufacturer, and points out that there is plenty of mileage left yet in terms of exerting price pressure on suppliers, and of designing and sourcing common parts on a more economic basis. Risks? Generally a global reach is a two edged sword, and any cooling of world trade levels, along with changing currency values adds an unwanted dimension of volatility. Strobbe has a key trading relationship with Agfa. No machines are built for stock, but we all know what happens to manufacturing plants when the phones stop ringing. And the group per se has little history, and has not faced a hostile environment. There is competition in abundance. Risk is unavoidable anyway; to have an international business is better than not having an international business and I would be ten-times more likely to back this management team than the those of the AIM vessels launched with this object in mind, stocked to the gunwales with investors money which you know you will never see again. The risks of having manufacturing capacity are unavoidable but if your installed base is big enough you have a stream of locked-in high-margin business from the supply of consumables (toner in this case) spare parts and service agreements. (A minor but quite significant theme of the flotation exercise was the mopping up of minority interests so that it is the company controls, where economic, its own operations in toto). Some will think too that the former parent's pocketing of 30 million pounds is a danger signal, but I find the arguments for independence quite cogent; besides which Punch International still holds 49%. Punch Graphix is capitalised at 123 million pounds, which means an historic price earnings ratio at present sterling euro exchange rates of over 20. But I expect that the current-year contribution from a growing existing business, supplemented by basysPrint and garnished by the material absence of financing costs, to bite deeply into that multiple. The company stands out a class act, head and shoulders above the vast mass of the strongly-flowing new-issues hordes - and, at 119.5p, the shares should be bought forthwith. Key Data EPIC: PGX Price: 117 - 122p Market : AIM |
Posted at 05/9/2006 13:11 by glasshalfull Thanks shuisky.It certainly appears from all available info that markets are buoyant, both partners and competition experiencing a strong market place - see previous few posts - with PGX themselves reiterating that things are going well via a pre close statement and their house broker yesterday. For some of the smaller AIM companies then a rating of 10 would be fine but PGX's peers command higher ratings but cannot offer the growth/potential evidenced here. The strength of recurring revenue streams here will hopefully be demonstrated at the interim stage and an appropriate valuation afforded the company. Regards GHF |
Posted at 05/9/2006 09:50 by tole Just to let you know I received the Altium write up today - just a brief summary reiterating the 160p price target.They expect the interims scheduled for 28th Sept to both reassure and impress investors - believing that following on from the positive AGM statement and trading update earlier this year PGX is making progress in all areas of its business and on target for expectations for the full year. Also expecting the new CEO to give more detail on his view of the potential for Punch - and is anticipated that as his first opportunity the outcome will be positive. The note also reiterates that the shares continue to be SIGNIFICANTLY UNDERRATED - and that the results and presentations from the CEO on strategies and objectives should be the catalyst to a strong share price performance for PGX. Share Price 106p. 2006E T/0 120.3 Adj PBT 14.7 Adj EPS 10.3 PER 10.2 DIV 3.0 2007E T/O 131.2 Adj PBT 16.3 Adj EPS 11.0 PER 9.6 DIV 3.2 |
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