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SVO Serviced Off.

107.50
0.00 (0.00%)
03 May 2024 - Closed
Delayed by 15 minutes
Serviced Office Group Investors - SVO

Serviced Office Group Investors - SVO

Share Name Share Symbol Market Stock Type
Serviced Off. SVO London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 107.50 01:00:00
Open Price Low Price High Price Close Price Previous Close
107.50 107.50
more quote information »

Top Investor Posts

Top Posts
Posted at 23/8/2013 12:07 by fillipe
Very much off the radars at the moment but the share consolidation has gone well and future newsflow is likely to be positive.

Next interim announcement due 18/09/2013

Look at MAR to see how a parallel company's share price can fly when it captures the wider investor imagination!

f
Posted at 05/2/2013 16:42 by mount teide
Seventy five million options granted to Directors at a 25% discount to the then share price. Nice.

This is unlikely come as a surprise to investors who had the misfortune to invest in Michael Kingshott's previous quoted company Jacobs Holdings Ltd.

While MD at Jacobs, investors saw a huge loss of shareholder value, before the bombed out company was taken over by Bidvest SA at a small fraction of the share price most investors and institutions had bought in at.

He talked a good game, but consistently failed to deliver on the bottom line.

IMHO DYOR
Posted at 11/7/2006 09:50 by hybrasil
Liars
If you are a serious investor you will find you cant live without it.
Posted at 10/7/2006 12:55 by cockneyrebel
Cheers Hybrasil.

Had my eye on these for an age. I had to buy now because the AGM is very soon and I couldn't afford not holding if they put out an AGM statement.

Personally I don't think there will be an AGM statement looking at last year but you never know. I at least wanted in before the Aug results.

Tom Farmer is a very nice investor to have on board, as is Peter O'Rielly imo.

From the finals:

"The current year has started well, occupancy levels are predicted to continue to rise and we expect to benefit from the increased size of our portfolio during the coming year. We now have the infrastructure in place to manage the group in its present form, but also to handle the rapid and efficient integration of further property acquisitions. "

CR
Posted at 10/7/2006 10:03 by cockneyrebel
Serviced Office Group Plc (SVO)

Serviced Office Group is the reincarnation of KBC Holdings Ltd, a former software company. A bit of a failure as KBC, new management has taken control, has put the foreign loss making businesses into voluntary liquidation and has created a serviced office business from KBC's existing properties. The new management has said the days of software are over and that they believe they can make a significant and profitable business from serviced offices of which they seem to have experience.

The new management seem to have been doing a good job. Losses of 3.24p a share in 2003 were reduced to just 0.48p a share in 2004 while the year to Dec 2005 has seen an eps of 0.59p per share while 0.54p of that came in H2.

SOG own some properties and lease others. The ten strong SOG business centre portfolio now comprises five leased premises at Blackfriars, Uxbridge (2), Marlow and Richmond and five freehold centres, at Harrow, Hayes, Kingston, Crawley and Bournemouth.

At the last set of results the company said:
'The current year has started well, occupancy levels are predicted to continue rising and we expect to benefit from the increased size of our portfolio during the coming year.'

Looking at the pace the company has been growing earnings at under the new management it is running at a rise of 1p pa over the past year. In view of them doing 0.55p in H2 that also makes the stock look cheap on a price of 9p when 1p+ eps for the current year looks very achievable based on H2's eps.

Since those results SOG have also acquired the second Crawley business. They have paid £1.5m for the 11,200 freehold business centre which generates £24K per month license fees. That seems good business to me, the interest on a mortgage for that would be £80K pa and it already brings in £288K. A few synergies and cost savings and that's going to make a substantial additional income. They have also acquired Hill House in Richmond which has 170 Workstations and generating £720K pa in license fees.

Late last September the company made it's first acquisition under the new management acquiring Willowbank Office Centres for just £200K. These had losses of £5.5K and turnover of nearly £1m. Kingshot, the Chairman said then '"I am confident that there are a number of ways we can increase the 1 million of income per annum currently being generated by the three Willowbank centres.'

Net asset value was 7p per share at the year end. No shortage of cash either with £1.7m on the balance sheet.

If some or all of these acquisitions start to show through along with organic growth it's pretty easy to see well in excess of 1p eps this year imo and 2p in the year ahead. What sort of PE would that growth trade on? I think a forward PE of 15 is quite possible with the 7p+ NAV there too. If they can do 2p eps next year then 30p might be an achievable target imo.

Trading at just 9p to buy, two pence over their all time low they look potentially very cheap imo. There's some shrewd investors in here too. Sir Tom Farmer holds 24.4% while Peter O'Reilly holds 5%. Kingshot, the Chairman also holds 24.4%.

Lastly, I've looked on ADVFN - just one thread with a dozen posts and nothing since Sep last year - always a good clue that there is no hype in the share price.

All the office property businesses I look at are doing cracking business or being taken over - Bizspace, Basepoiint, YourSpace, Workspace etc

Interims are due around Aug 18th.

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