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Real-Time news about Vantis (London Stock Exchange): 0 recent articles
|agreeable: I note from The Sunday papers that Vantis name is associated with mis-selling film based tax saving schemes that are now attracting Revenue attention. The reputation of VTS continues to sink as fast as its share price|
|egoi: I think all the news is 'out there' now, good and bad, notwithstanding there might be a funding to come at around this level, larger especially if they are looking at acquisitions for example.
As a general market rule, the market likes having the news, and that often leads to a short period of share price consolidation followed by a strong rally imho (look at Carpetright for example). That's what I expect here, with trading since May looking decent, unless wider markets totally tank of course.
Also the supposed threat of suspension, which I never took as other than fantasy myself, has gone anyway.
As for the idea that TNO could get this company for 25p, big lol imho, wishful thinking maybe from some people? 60-80p more like I think!|
|battlebus: Ready to add to my holding in the morning nothing at present to deserve the current share price.|
|nickcduk: I read about the story when it first broke. VTS created companies and floated them on ridiculous valuations. They put the investors in at a fraction of the share price and then they gifted those shares to charities in order to get tax relief. Charities couldn't find any buyers for those shares. Pretty clear case imho and I would be surprised if they didn't manage to nail them for a change.|
|agreeable: The fall in share price and going concern qualification were well ahead of a recession.
As for the 'rumours' ....|
|egoi: Another quality trading update I feel. Share price understandably held up far better than most financials. Could see a strong bounce from this level imho. Like the bit about cash generation, hinting too at just how very comfortably debt is managed despite years and years of utterly misplaced worries on that score from agreeable on this thread.
Well done Vantis!
Excellent flexible business model here imho and so very recession resistant.
'Vantis, the accounting, tax and business recovery group, issues the following update on current trading prior to entering its pre-close period in respect of the six months ended 31 October 2008 ('H1 2009').
Post our AGM update on 25 September, the Group has continued to perform in-line with management expectations during an increasingly difficult business environment. During H1 2009, the change in business mix has become more pronounced reflecting changing market conditions and the counter-cyclical nature of the Vantis business model.
Business Recovery has continued to prosper with an increasing proportion of Group activity especially in recent months.
Business Advisory performed satisfactorily.
Within Consultancy, Financial Management performed particularly well, whilst Corporate Finance weakened due to the turbulent financial markets. Given the shift in the economic landscape, our defensive and balanced business model has allowed us to transfer resource from Corporate Finance and other divisions into Business Recovery which should allow us to benefit from the market downturn.
Operating margins remain robust and in line with management expectations.
Cash generation is in line with management expectations and has enabled investment in the growing Business Recovery division.....'|
|egoi: I think you only need to read the persistent anti-Vantis (and in my view increasingly desperate and financially illiterate) maunderings imho of one poster on this thread targatarga to draw your own conclusions!
Vantis plc ('Vantis' or 'the Company')
6 May 2008Share price movement
The board of Vantis notes the recent rise in the Company's share price. It confirms that it has received an unsolicited,
very preliminary all share approach and which the board does not believe is in the best interest of shareholders and
will not be pursuing it.'
Obviously I assume undervalues the company. Wonder who was the chancer and what was the level? Well above here if the share price is anything to go by in recent days, I'd say, but still I assume not remotely enough. A chancer might risk 130-140p but they've no chance of getting away with that on any reality valuation I'd say.
If they'd wanted the share price 'puffed' they'd have said something along the lines of 'might lead to an offer', imho, to attract other bidders.
Up 30% or so in last week, not bad for a company one punter thought was on a 'death spiral'.
I forget who that was but suspect it was the same one who was a client of VTS in the past (for whom I wonder if things didn't go too well, and didn't have the balls to tell us lol?).|
|1nf3rn0: Vantis boys in bullish form
Published date:Thursday, May 1, 2008
Accountant's rock bottom share price sends main trio on buying spree
by Simon Keane
Paul Jackson, Paul Ashton and Trevor Applin the three main players at accountants Vantis have put their brokers on notice to pick up stock. Chief executive Jackson, finance director Applin, and the company's deal maker Ashton picked up a modest 13,334 shares a piece last week as the stock hit six-year lows.
But Ashton says the trio will keep on buying so long as prices remain at rock-bottom: 'The last note from Landsbanki [Vantis' house broker] had us on April 2008 earnings of 16.5p, with a share price of 90p and PE of 5.5 which, as far as we are concerned is too low. It is an opportunity.'
This is the first time the three directors have purchased shares in at least a year and comes after the company's shares collapsed from their high of 291.6p in December 2006. The directors picked up their stock at 87.8p, which is lower than the float price of 90p in May 2002.
Ashton, 58 and Jackson, 59, go back 30 years. The two met at City accountants Morgan, Brown and Spofforth (MBS). MBS was later to take the lead in a merger with three other accountants, which happened consecutively with the flotation, creating Vantis. Jackson joined MBS in 1970 from school and qualified as an accountant in 1974.
Ashton joined MBS in 1977, already qualified, and the following year he joined Jackson as a partner. Applin came on board following the pair's first acquisition, of R D Neville & Co, in 1985. In charge of mergers and acquisitions, Ashton has been the driving force behind Vantis' buy-and-build strategy taken since the float. A string of smaller deals culminated in the purchase of insolvency specialist Numerica in 2005 which was a reverse acquisition.
'We have adopted a growth strategy over the years and we think over the six years we have done that very well,' says Ashton. 'We have paid a dividend every six months for the last six years. There was a block of shares there on the market, three of us took them up, we would probably do so again.'
Strength in weakness
By themselves, the deals are small beer for the men who collectively own about 20% of Vantis' 51 million shares. Ben Archer, from independent broker Charles Stanley, says: 'The shares are pretty weak and I think this signifies that management is happy with where things are.' Archer says the market is looking for evidence of improved cash flow.
The shares have de-rated on concerns about cash flow, which has taken a hit as the company rapidly expanded its insolvency business. Insolvency work has long lead times as the administrator only gets paid at the end of the job, so debtor levels have accelerated as insolvency revenues became a larger part of the pie.
Sitting on a net debt of £37.9 million (excluding finance leases and loan stock) the market is looking for improved cash flows to allow these borrowings to be paid down especially so given the current credit environment.
The other side of the coin is that Vantis' acquisitions leave it well positioned for an expected upturn in corporate insolvencies as credit conditions remain challenging.
Investors are due a year-end trading update in May for the financial year just ended on 30 April 2008. Will this update signal an improvement in cash flow? The market will have to wait and see.|
|egoi: Good strong set of results, which no amount of innuendo will discredit this time, exactly as I said they would be, leaving plenty scope for an obviously higher dividend with finals.
Chairman talks of continuing 'solid growth'.Clearly VTS is doing well despite tougher trading conditions, therefore I conclude must be taking business from its peer group.
Small uptick in share price early on, on an otherwise bleak day for market, is no surprise - the market clearly likes the value it sees here, even if the wider market has an influence later. If one was being hypercritical the debt level could be lower but if memory serves it is lower than at Finals, so looks like sound progress there too. Group is clearly self-confident with talk of acquisitions, and it has every right to be, as other less talented rivals suffer and become cheap.
My first target 225p by or soon after finals - as long as there is no market meltdown, which is a possibility, otherwise VTS is a rock solid defensive play, all imho of course.
And when you see 'Great British Institutions' like M+S down 20% on results and banks like Lloyds being trashed by the market, good to see little VTS delivering quality results yet one more time!! -:)
Financial information has been prepared in accordance with International
Financial Reporting Standards. The comparative amounts have been restated.
Turnover on continuing operations increased 11% to £46.9m (2006:
Operating Profit from continuing operations increased 10% to £7.7m (2006:
Basic earnings per share are 7.52 pence (2006: 8.09p) reflecting the
placing in 2007.
Proposed interim dividend of 1.5 pence per share (2006: 1.5p);
Cash inflow from operating activities £2.0m (2006: £1.9m);
Bank interest cover 4.2 times (2006: 4.9 times);
Strong organic growth in an increasingly challenging market place.
Further recruitment of high calibre personnel particularly within Core
Practice and Tax.
Commenting on outlook, Paul Gourmand, Chairman said:
'The group has continued to perform in line with our expectations in the second
half. We remain confident of a successful and progressive outcome to the year.'|
|agreeable: So 2008 starts all over and the truth fairy at Vantis is hard at work.....so they have come 157th in a listing of fastest growth job creation companies in Europe, share price rises on good news....but as with all things worthwhile looking at the list and see who else appears
No 7 is Lupus Capital, where the share price has halved
No 15 is Erinaceous....need i say more
others who precede VTS on the list include
Carter and Carter
Get the idea....it is a list of the most acquisitive companies,not the best!
I predict that 2008 will be a tough one for VTS|
Vantis share price data is direct from the London Stock Exchange