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Share Name | Share Symbol | Market | Stock Type |
---|---|---|---|
Ssp Hold | SSPH | London | Ordinary Share |
Open Price | Low Price | High Price | Close Price | Previous Close |
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188.50 | 188.50 |
Top Posts |
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Posted at 28/7/2008 14:06 by engineer66 Thanks mud for drawing my attention to SSPH. A good company and a rewarding investment. I'm almost inclined to buy some more with an offer price of 187p and a bid of 190p. Its a very modest but adequate return. Say at least 1.5% over 3 months at worst, may be over 2 months so a return 6 to 10.5%. I am looking at Tenon TNO just now. |
Posted at 27/9/2007 11:44 by nick of the north SSP (SSPH) Competitor acquisition EST: no change, REC: CorporateTowergate, the insurance intermediary, has acquired Open International Group for £276m. The transaction has very favourable ramifications for the comparable valuation case for SSP. We are reiterating our positive stance on the stock following yesterday's AGM statement. Open International supplies broking and underwriting systems to Towergate and has c.40% share of the UK broker market. The acquisition price Towergate has paid £276m cash which represents a valuation of over 7x current year revenues and over 14x operating profit. This roughly equates to an exit P/E of 22x. This acquisition is notable because it reflects a growing trend of insurance intermediaries in-sourcing their IT platforms. This comes in light of rising data volumes and the necessity to improve platform efficiency levels. We believe this acquisition could yield an excellent opportunity for SSP to pick up additional market share. The acquisition also has favourable implications for the valuation of SSP. If we apply the Open International's exit P/E to SSP we arrive at a comparable valuation of 240p per share, 65% above the current share. |
Posted at 08/7/2007 09:48 by stegrego SSP Holdings PLC, a provider of business critical IT systems and services tothe UK general insurance industry, will be a changed animal following the 43.4 mln stg acquisition of Sirius Financial Solutions PLC - a deal that recently got the green light from the UK Office of Fair Trading. In the meantime, results for the year to March 2007 are anticipated to be in line with market expectations, with strong performances in particular from the group's Distribution and Insurer Systems divisions. Cash generation remains strong. During the course of the year, SSP won a number of new contracts, which are substantial in size, and several major existing contracts were renewed as expected. The Group's recent Insure+ and Sectornet acquisitions were successfully integrated during the year, and earlier this month the board announced the further extension of SSP's international capabilities through the acquisition of the African based INSURE/90 business, systems and assets. KBC Peel Hunt analyst Alex Jarvis looks for year to March 2007 pretax profits of 7.7 mln stg, up from 4.7 mln, for EPS of 13.9 pence. A 0.1 pence dividend is expected. With Sirius chipping in for 2007-08, Jarvis expects pretax to rise to 10.5 mln on the back of 61.7 mln stg of sales. |
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