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Real-Time news about Ttg Eur (London Stock Exchange): 0 recent articles
|haystack iv: This does look interesting. I think a medium term recovery of the share price looks likely. I am not sure about the long term yet|
|caylee: Oh Dear the advisors have resigned ;-[[ Do you reckon this will affect the share price . Ha Ha hiya buddies you all ok xxx Exotic tut tut|
|exotic: RNS Number:4547K
Eckoh Technologies PLC
01 April 2005
For immediate release 1 April 2005
Eckoh Technologies plc
("Eckoh" or the "Company")
Acquisition of Anglia Telecom Centres Limited
Eckoh, one of Europe's leading speech application service providers, today
announces that its wholly-owned subsidiary Symphony Telecom Holdings plc ("STH")
has exchanged contracts for the purchase of Anglia Telecom Centres Limited ("
Anglia") from TTG Europe plc for cash consideration of up to #10.0 million. The
completion of this acquisition is conditional on STH securing senior bank debt
financing in the amount of #6.0 million within the next 30 days. The balance of
the purchase price is expected to be met from existing Eckoh cash reserves and
is subject to the closing net asset position of Anglia on completion.
Anglia was incorporated in 1987 and is a successful mobile distribution and
fixed line reseller to the SME market in the UK. Anglia supplies a range of
mobile network connection packages, mobile phone handsets and accessories
through a network of over 170 mobile phone dealers in the UK. The business
supports the dealer network through providing marketing expertise, sourcing the
hardware and arranging for the connection of the dealers' customers to the
desired network. To provide these connection services Anglia has direct
connection agreements with five mobile phone networks, being O2, Orange,
T-mobile, Hutchinson 3G and Vodafone. In addition, Anglia acts as a switchless
reseller of fixed line telecommunications services, providing such services to
over 1,000 business customers. Revenues for the last audited financial year
ended 31 March 2004 were #22.4 million and profit before taxation of #1.7
Following completion, Anglia will operate alongside STH's existing fixed line
and mobile services subsidiary Symphony Telecom Limited ("Symphony"). On a
combined basis Anglia and Symphony will generate unaudited annualised revenues
in excess of #48.0 million and unaudited profits before taxation of
approximately #2.4 million. The Board of Eckoh is of the opinion that by
acquiring Anglia efficiencies can be achieved and margins increased within the
two businesses, increasing profitability within STH. In addition, Symphony has
approximately #10.0 million of tax trading losses which it can carry forward to
offset against future taxable profits.
Together with its nominated advisor, Evolution Securities Limited, the Board of
Eckoh is also conducting a strategic review of the Company, with the objective
of demonstrating the value of Eckoh's constituent business activities, which it
believes may not be reflected in Eckoh's current share price. The Company
expects to make further announcements as appropriate.
Eckoh's current trading performance is in line with market expectations and
expects to report increased profits before tax (excluding goodwill amortisation)
of at least #600,000 for the six months ending 31 March 2005, despite suffering
a bad debt write off of #200,000 in respect of Auctionworld during this period.
For further enquiries, please contact
Eckoh Technologies plc Tel: 08701 100 700
Martin Turner, Chief Executive
Nik Philpot, Chief Operating Officer
Buchanan Communications Tel: 020 7466 5000
Mark Edwards/Jeremy Garcia
This information is provided by RNS
The company news service from the London Stock Exchange
|megsta: what effect would people expect to see on the share price if Gartmore are looking to sell their massive holding? Would the MM's drop the price to encourage buyers, and force a lower BID price on Gartmore?|
After the sale of Anglia there will be £2.4m in the bank. The Belgium and Netherlands businesses are performing behind expectations in a competetive environment, so trying to guess what they are worth is difficult. Hopefully we might see the VAT issue resolved in our favour, but all in all it will be a struggle to see the much above the current share price realised in cash.
Thanks for those comments of which I agree. I will take the opportunity to look at the JDT thread.
Better informed is dangerous language, however, residing in Dubai in the winter months has given me visibility to the bulk trading activities of TTL. I take on board the "very low margins", however, it is very noticeable the recent increased activity highlighted in discussions with "partners" of the company in the UAE.
I remain mindful this only represents a small proportion of its trading activities, however, I continue to believe the "share price" does not reflect the turnaround that this company is currently experiencing on the ground.
Can you confirm you are a holder of this stock?
Excellent quality post.
To answer your question trading level(s) = share price.
I am not as optimisitc as yourself on capitalisation of the company, however, would suggest a share price of 3-3.5 pence is not unrealistic in the next 12-18 months.
I believe your final paragraph demonstrates the full potential of TTL and that very fact has been the basis of my modest ongoing investment.|
|megsta: eBomber - when you say trading levels, do you mean trading volume or share price?
Trading volume has been higher since May 2004:
The share price has been diluted with the extra shares issued in the share placement. But, I still think it likely that the share price will recover to pre-May 2004 levels over the next 12-18 months, if all goes well!
The company has 6 months figures of:
LONDON (AFX) - TTG Europe PLC six months to September 30 2004
Sales - 58.65 mln stg vs 26.63 mln
Pretax loss before exceptionals and goodwill - 1.53 mln stg
Pretax loss - 3.0 mln stg
Operating loss before exceptionals and goodwill - 1.27 mln stg
Operating loss - 2.73 mln stg
Loss per share before exceptionals - 0.2 pence
Loss per share 0.5 pence
Taking this forward for 2005 full year (which will be reported in late spring 2006), 12 month sales will be circa 100mln stg and the company ought to be returning to profit. Any news from the VAT issue ought to really help. But I am not sure if this issue is still ongoing or if the company have now dropped it.
As we all know TTG-Europe has resumed bulk trading and they have stated that they have returned to trading with profit.
IMO, if the company is turning over £100m a year and showing a profit, and has decent cash flow, and no major debts, then it ought to be worth more than its current market cap of £15m.
I reckon it should be worth £150m; which would equate to:
Market cap of 150m / 1,679m shares in issue = 8.93p per share
We should see a revaluation within the next 12-18 months. Anyone know of any other companies that are profitable, but are valued at only 10th of annual turnover? I can tell you several that are not profitable and are valued at 10 times their annual turnover!|
Firstly I wouldn't bet my house on the figures being in the next couple of days. I know that the company said they would report figures in the first half of December, but that was made a couple of months ago, and is subject to slippage.
I'm not so much interested in the figures, as to the statement. I would also like to see how the KBC note compares with their previous estimates, which I felt were a little optimistic.
If the company can come in line with the KBC forecasts then I see no reason why, in the fullness of time, that the share price can't get back to the 2p level.
Just be aware that this company is just a little accident prone, so the market will not give them the rating others believe they should trade on.
|chinakett: I'm looking with interest in what is happening with this company. Can't say I have done much research into TTL, I have only read the RNS's and the posts on this BB since the placement, but what I do see is an uncanny resemblance to a company I do know a lot about, Digital Classics (DTC)
Look into what has happened with DTC since it's placement and dilution back in March. The price was driven down to below the placement price and for those that bought in can now see profits of around 70% and with the strengthened company the growth potential is tremendous.
I'm not hear to ramp DTC but TTL is following a similar track, just 4 months behind DTC. Both company's have the institution Gartfield Investment on board. They don't play with their investers money lightly, so for them to be in signals a massive vote of confidence.
The only problem with dilution is it greatly reduces how high the share price will now reach. TTL has had 1.2 billion shares placed at 0.5p to raise £6M. ADVFN shows they have 757 million shares on the market. I assume this hasn't been updated. So that gives now a total of around 2 Billion shares on the open market.
Now if the share price made 5p that would give this company a Market Cap of 100 million pounds. Is it worth that?. I assume not so IMO you are heading for 1 - 2p by the end of the year. Good luck. I will certainly be watching and if get any spare cash will be buying, because I can't see this staying sub 1p for long.
Ttg Eur share price data is direct from the London Stock Exchange