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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Smc Grp | SMC | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 3.625 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 3.625 | 3.625 |
| Top Posts |
|---|
Posted at 27/6/2008 20:36 by lfdkmp WowI was expecting the Phoenix probe to find life before it would be reconfirmed here on SMC thread! :-) dave7, take me to your leader and, while you're at it, please explain from whence you get the figure of +3% |
Posted at 26/6/2008 07:32 by lfdkmp HmmmAs the world has gone away, and with continuing positive noises coming out of the restructured group, wonder if a k or two re-invested in SMC and tucked at the back of the portfolio drawer for a while might just be a smart move. Bid/offer spread's a killer though. Hmmmmm |
Posted at 27/3/2008 01:35 by njp Quite a few superficial similarities to WNG here. Buy and build spending spree, share price rattles up to near 200p before imploding off the back of a series of profit warnings, ultimately to single pence, both in the same broad sector, both say they have now cleared the decks for recovery.WNG has parachuted in a credible management team in Beart & Co (ex RAS, formerly XKO) but the business was a horrifyingly incompetent mishmash. New management appear to be acting swiftly to uncover the core to a future profitable business. They have the benefit of residual funds from the 170p share placing (how on earth were major instis persuaded to invest?) but there's a further loss to look forward to next half before the struggle back to breakeven and beyond. Beart reckons he's entered at a good price, snaffling 350k at 8.1p. SMC is a collection of good businesses welded uncertainly together by debt, with McColl's almost megalomanic ambition far outstripping central management's ability to control the rate of expansion and pushing debt to unsustainable limits. An object lesson in the perils of too-rapid 'buy and build', though at the time many of us (me included) paid too little heed to the rapidly building debt by over-focusing on projected profits and cash flows which indicated a modest valuation relative to growth. Inevitably, of course, the wheels were coming off, the share price plummeted and sorting out the debt gave rise to 500% dilution. Fundamentally the various businesses that remain look good (very much unlike WNG) and hitherto there has been plenty of work, but new management have much to prove and key staff retention has to be a major concern. SMC look to be the better business but the dilution is massive and must limit the upside. Will they manage to weld a credible whole out of the various disparate businesses that comprise it? Many in the architechtural universe expected them to fail. WNG meanwhile pretty well starts with a clean slate and a credible management team. They don't suffer from the dilution and have some funds at their disposal, but are pretty much starting from scratch. I note that following WNG's recent results announcement the price rose from 8p to 12p before falling back. Though SMC's trading update was encouraging, I wouldn't be surprised to see something similar happening here and I certainly don't see any spike beyond yesterday's close being sustainable, though wish current holders well. Both companies could be good recovery stories but there's just too much competition out there from sound, well funded and profitable growth companies on near similar forward profit multiples. Why take the risk right now? |
Posted at 26/3/2008 22:42 by cyberbub I bought on the way down... at 117p... can anyone beat that? ;-)I did say that SMC would rebound if you check my postings over the last few months. I did think that it would be likely to bounce back, when it reached under 10p but did not go bust. I was even tempted to bung some more cash in at 7p but didn't because I don't have any spare, ah well :-( SMC is still one of the UK's and Europe's biggest architectural practices, and assuming that the quality of their work remains high and they get the management/morale issues sorted out, then it should be a good long-term recovery stock. I see no reason it shouldn't be back at £1 in 2-3 years' time. I am still holding anyway, and if I get some cash free (come on JRVS!) then I might put some more in. |
Posted at 26/3/2008 07:45 by theophilus 26 March 2008SMC Group Plc Trading Update and Notice of Results Following the successful restructuring, refinancing and strengthening of the management team which has taken place since June 2007, SMC Group Plc is pleased to announce the following trading update ahead of its preliminary results due for publication on 3rd April 2008: *H2 07 revenues are expected to be approximately £23.0m vs H1 07 revenues of £21.1m - an increase of circa 9% from the first half, giving full year 07 revenues of circa £44.1m; and *H2 07 EBITDA* is expected to range between £3.7m and £4.0m vs H1 07 EBITDA* of £1.2m - an increase of at least 300% from the first half, giving expected full year 07 EBITDA* of between £4.9m and £5.2m. * EBITDA stated before exceptional items Whilst recognising the one off charges associated with the restructuring, refinancing and write downs incurred in the year, the Board believes that the steps taken during 2007 have been effective, resulting in cost savings and increased revenues as demonstrated by the expected increases in H2 07 revenues and EBITDA (before exceptional items) over those reported in the first half. From this new base, trading in 2008 continues to be robust and the Board believes further opportunities for efficiencies and growth via integration of the businesses can be realised. Executive Chairman, Sir Rodney Walker said," I am pleased with the progress the business has made since last summer. With the debts of the business, including contingent consideration, significantly reduced as a result of the open offer and with stronger management in place, led by new MD Chris Littlemore, in place, we can now continue to build on the opportunities open to us as one of the UK's leading architectural services businesses." - ends - -------------------- Beginning to look promising again? Cheers TH. |
Posted at 15/10/2007 07:39 by pbracken Small Talk: Auckeet looks up as SMC ponders lonely future By Andrew Dewson Published: 15 October 2007 Despite the fact that both companies are very much at the smaller end of the UK market, the proposed mergerbetween SMC and Auckett Fitzroy Robinson would have created the UK's largest architecture practice. But the talks were called off on Friday and, although Auckett investors may be relieved, the outlook for SMC remains bleak even if it is still in talks with a private equity buyer. SMC has had an awful year, culminating in a grim profit warning in May that has sent the shares into freefall. The merger with Auckett could have offered it a way out of its difficulties but with more than £18m of debt on the books and the equity valued at less than half of its debt pile, the company is going to have to work miracles if it is to remain independent. The word in the markets is that the potential buyer is none other than Stuart McColl, the founder of SMC and still its largest shareholder with 17 per cent of the stock. However, hewas ousted on the back ofMay's warning and given that the stock has fallen 80 per cent since then the chances of an offer at a significant premium to Friday's closing 15p per share price look very slim. Auckett has a stronger balance sheet and although a successful merger between the two would have required an awful of work it appeared to offer SMC shareholders the chance to recoup a larger proportion of their losses than would taking the company private. The chances are that the talks ended because it would have turned into a merger in name only with SMC teetering on the brink Auckett was undoubtedly the party in possession of all the aces. For investors, the choice is fairly straightforward Auckett is in good shape and will likely outperform as a standalone entity now that is not sorting out SMC's woes. Sensible investors are already out of SMC, and for anyone left in, the future looks precarious to say the least. |
Posted at 12/10/2007 07:28 by floppyjoe SMC Group Plc12 October 2007 12 October 2007 SMC Group Plc ('SMC' or the 'Group') Offer update On 8 August 2007, the boards of SMC and Aukett Fitzroy Robinson Group plc ('AFR') announced that they had entered into non binding heads of agreement relating to a proposed merger of the two companies. Today, the Board of SMC announces that it has been unable to agree satisfactory terms with AFR for a merger and those discussions with AFR have ceased. The Board of SMC confirms that discussions are ongoing with a private equity backed third party for a potential offer for the Group. Shareholders are advised that discussions are at a preliminary stage and that no offer terms, including an indicative offer price, have yet been provided. There can therefore be no guarantee of a formal offer being made for the Company. Further announcements will be made as appropriate. Further to SMC's interim results announcement on 27 September 2007, the Group continues to trade in line with management's expectations following the successful implementation of the recommendations of the internal review committee. -ends- For further information please contact: SMC Group Plc Tel: +44 (0)20 7495 5335 Robert Boardman Numis Securities Tel: +44 (0)20 7260 1000 Stuart Skinner/James Serjeant Bell Pottinger Corporate & Financial Tel: +44 (0)207 861 3867 Chris Hamilton |
Posted at 03/10/2007 11:00 by paulcaine2003a Hi Gary,Haven't spoken in a while. Im not in SMC at the moment and took a pretty big hit on this one earlier in the year. IMO, its hard to judge where the share price will go. I thought that there was some kind of support around 18p but that has been breached. With the possibility of the merger, who knows where this will go. Am tempted to get in at these prices although to be honest with you the debt is extensive, and if the merger isn't properly managed, SMC could end up bringing AUK down with them. I think underneath it all, there is long term value in SMC (I know they are winning contracts left right and centre but have no idea of the profit being made). Another thing is that Kier Chiefr Exec recons the construction boom will continue for at least another 3 years. If thats the case, then that gives potential for SMC to get things together and set up a profitable business which could lead to a buyout (should the current merger fall thorugh). One final thing is that SMC bosses may need to merge the company to stop it from going under. I know AUK don't have any debt so in that case the debt that SMC have would be shared. As a result of sharing debt with AUK, you have to question what bargaining power SMC will actually have with the merger and the terms that are likely to be given are more than likely to be in AUK's favour. IMO, AUK is looking like more of a buy than SMC because if the merger fails, their share price is likely to increase and if the merger happens then their shareholders are likely to get better terms than SMC's. |
Posted at 12/6/2007 11:51 by njp RNS Number:2006YSMC Group Plc 12 June 2007 SMC Group Plc ("SMC or the Company") Result of Annual General Meeting SMC announces that at today's Annual General Meeting of the Company all of the resolutions, save for Resolution numbered 5 in relation to the declaration of the final dividend, were duly passed. Further to the Company's announcements of 25 May 2007 and 31 May 2007, the Board of SMC believed it was prudent to withdraw the resolution regarding the proposed the final dividend and not to propose the resolution to the meeting. Executive Chairman, Sir Rodney Walker, said: "The Board believes that a dividend at this time would not have been in the long term interests of the Company. The Company remains confident of the prospects of the Group and is committed to returning to a progressive dividend policy as and when appropriate. "Trading remains in line with the Board's expectations. We continue to win new contracts across a wide range of sectors throughout the Group. Once the restructuring aligns the cost base, we expect profitability to improve month on month. Contrary to media comment, staff turnover remains within normal levels, although headcount has already begun to reduce as part of our planned restructuring. We remain the second largest architectural group in the UK by some considerable margin." |
Posted at 01/6/2007 12:06 by devere Also in The Telegraph.SMC hopes rise after founder departs Shares in SMC, the troubled Aim-listed architecture group, rose by 8pc yesterday after founder and deputy chairman Stewart McColl left the company and the firm said some of its businesses are continuing to trade well. SMC has been hit by three profit warnings this year, causing its share price to fall from 193p in January to as low as 41.5p before today's news, valuing the company at around £20m. Mr McColl, who still holds 20pc of SMC's shares, relinquished his duties as chief executive in February and was appointed deputy chairman following the first profits warning. SMC's problems came after Mr McColl, in his then capacity as chief executive, embarked on an ambitious series of acquisitions over the last two years, buying up practices including that of Will Alsop, the leading architect behind the award-winning Peckham library. SMC is one of just a handful of publicly-listed architecture firms and Mr McColl's M&A spree raised eyebrows in an industry where artistic qualities are often valued much more highly than business nous. But, in a letter to Building Design magazine sent between the first and second profits warnings, Mr Alsop wrote: "The perceived problem related to share price is a market adjustment and has nothing to do with the excellent and buoyant work being undertaken. I would also like to state clearly that Stewart enjoys the full support of everyone within the group." SMC said that it will cut costs and may close certain offices. Sir Rodney Walker, the company's chairman, took over the day-to-day running of the business in February from Mr McColl. After a further profits warning in March, Sir Rodney, who is also the chairman of World Snooker, sought to reassure investors in April that: "the business is more soundly based for 2007, and beyond, which should enable it to meet its targets going forward." These comments sent the shares soaring back up again only for shareholders to be hit again last week by a third profits warning, which left the stock trading at the lowest level since it floated on Aim in 2005. Once he had taken charge of the company, Sir Rodney launched an "internal business review" to get to the bottom of SMC's difficulties and, after a board meeting yesterday, the company announced this morning that: "Whilst some businesses within the Group continue to trade well, others have overheads which are out of line with revised revenue projections." SMC added: "The Group's bankers have confirmed they continue to be supportive of the Group in order to facilitate the changes required by the review." |
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