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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Vebnet (Hldgs) | VBT | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 253.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 253.50 | 253.50 |
| Top Posts |
|---|
Posted at 14/9/2006 09:44 by rambutan2 beat those forecasts, making 2p. current year looks promising...Vebnet, the Edinburgh-based, AIM-listed, leading provider of technology for employee benefit solutions, confirms significant progress in its business in the year ended 30 June 2006, with sizable increases in customer numbers, both turnover and recurring revenues, EBITDA and pre-tax profit. Highlights Top line increased by 17% to £3.9m (£3.3m). The number of employees using FIX&FLEX(R), the Group's core product, as at 30 June 2006 was 171,994, an increase of 85% from 30 June 2005. Customer numbers increased from 50 to 86. Revenues from Vebnet's core business virtually doubled in this period to £2.9m (£1.5m) and recurring annual licence and renewal revenue increased from £1.1m to £1.8m, an increase of 64%. New direct clients included JP Morgan, Britannia Building Society, Tenon and Informa. Net cash at 30 June 2006 was £2.672m, double that at 30 June 2005. This includes £1.04m (gross) of new money raised in the successful placing announced on 22 December 2005. Founding shareholder, Cross Atlantic Capital Partners, placed 750,000 shares (8.8% of the share capital), but still retains an 18.4% shareholding. New institutional investors include JP Morgan with 8.1% of the enlarged share capital. The placing was oversubscribed. The senior management team was strengthened with three key appointments. Trading since the year end has also been encouraging: o The number of implementations currently scheduled for the year ending June 2007 is 20, adding at least 46,000 new employees. o New customers include AON, Resolution Life, Royal London and ING Direct. o Vebnet also engaged in preliminary discussions with two third parties in relation to possible transactions, which may or may not result in the acquisition of all or a majority of the outstanding ordinary shares of these companies. In the y/e 30 June 2006, the company adopted the requirements of Urgent Issues Task pronouncement 40 ('UITF40') in respect of accounting for the recognition of non-contingent income from the provision of professional services. In accordance with Financial Reporting Standard 3, the prior year figures have been adjusted to reflect this change in accounting policy. Derek Scott, Chairman, stated: 'Vebnet maintains its year-on-year record of growth in developing its core business, with sizeable increases in customer numbers, both turnover and recurring revenues, EBITDA and pre-tax profit.' Referring to current trading and prospects, Derek Scott added, 'Business in the first two months of the new financial year has also been encouraging. Already this year, we have gained a number of new and large customers using FIX&FLEX(R) and we remain confident about the Company's ability to sustain this growth. We continue to look for opportunities to add shareholder value through profitable sales growth, acquisitions and at the same time working more closely with our distribution partner network.' |
Posted at 08/5/2006 13:14 by tuffbet This link is worth reading. There is little doubt that the Revenue are closing down what were previously seen as tax planning rather than tax avoidance schemes and Trusts came in for a battering in the latest Budget as a aresult of which the wealthy will have to look for other legitimate Tax planning tools . AIM shares have both CGT and Inheritance Tax advantages and the likelyhood id that lots more of the type of funds mentioned in this article will be coming along . On the surface good neews for the AIM market but I suspect it won't be broadly based so I don't expect to see the money going into the hot sectors like mining, exploration, etc . They funds are going to be looking for the solid earners, the dividend payers and of course quality growth companies . I think VBT is very likely to be a major beneficiary of this new money both from the point of view of the wealthy AIM investor who wants the tax advantages but prefers to pick his own stocks and via the Funds which have been set uo to maximise on the AIM tax advantages. Only time will tell but there is almost certain to be a reaction soon in the super hot sectors and rotation into the best of the underperformers (in share terms ) and it will surprise me if VBT are not on that list. Below is a graph showing the performance of VBT over the last 6 months relative to the FTSE 350 Index which I feel is more representative of the UK market than the FTSE100. |
Posted at 22/2/2006 09:09 by rambutan2 all looking set fair...Vebnet, the Edinburgh-based, AIM-traded leading provider of internet-based technology for employee flexible benefit schemes, announces a near doubling of turnover in the half year to 31 December 2005. FINANCIAL HIGHLIGHTS * Turnover totalled #2.1m (2004: #1.1m). * The pre-tax profit of #0.1m compares with a loss of #0.3m, and earnings per share of 1p compares with a loss per share of 3p. * Net cash at 31 December 2005 of #1.35m represents an increase of 2% since 30 June 2005, and excludes #1.04m of new money raised in the placing announced on 22 December 2005 which was received after the balance sheet date. * The placing, which was over subscribed, increased Liontrust's holding to 10.4% and introduced three new institutional holders, including J P Morgan, which now owns 8.1%, materially strengthening the institutional register. Founding investor, Cross Atlantic, still retains an interest of 18.4%. COMMERCIAL HIGHLIGHTS * In the period, 18 new clients were added, bringing the number of clients using FIX&FLEX(R), the Group's core product, as at 31 December 2005 to 67, while the number of employees accessing FIX&FLEX(R) increased by 44% to 134,276 - roughly doubling in a year. * New client implementations included Britannia Building Society and Tenon. * Development revenue in this period on the Prudential Flexible Benefits Solution moderated as we concluded Phase B of the build. Discussions are ongoing with the Prudential on the next phase of development which may result in additional revenue later this calendar year. * Trading since the half year end has also been very encouraging. Seven new FIX&FLEX(R) clients have been won. In addition, 21 new implementations of FIX& FLEX(R) are scheduled for the second half, including a global investment bank with over 12,000 employees. Derek Scott, Chairman, commented: "We are pleased with the progress made in the last six months. Our core performance metrics - recurring revenues, new client wins and employee enrolment numbers - continue to exhibit strong growth. We have also strengthened the balance sheet and attracted three new institutional investors in the process. "Vebnet is enjoying good visibility of turnover and the Board is confident of meeting market expectations of increased turnover for the year to 30 June 2006. In addition, we expect the good commercial progress achieved in the first half and in subsequent weeks to continue through the second half and beyond." Gerry O'Neill, Chief Executive, added: "The progress Vebnet has made in the first half reinforces our position as the leading provider of employee benefit technology solutions. The quality of our client and partner base clearly differentiates us in the market." |
Posted at 19/9/2005 15:32 by tuffbet Another good set of results showing steady progression.Seymour Pierce have produced a new piece of post results research which can be read by going to the Vebnet selecting the Investors section, clicking on Analysts Coverage and downloading the latest research PDF "Storming ahead "is the heading on the Vebnet research and I think that sums thinks up very nicely at this stage - my guess is the initial profit,while very good news, will look small beer by this time next year and I suspect Seymour will once again be playing catch-up with their forecasts. |
Posted at 24/6/2005 16:38 by tuffbet Over the past 2 weeks the share price of VBT has performed very well ,so doubtless there will be those who are tempted to sell and take a profit .Years ago ,largely because of inexperience and an inability to separate share price movement from corporate performance I was not good at making the buy/hold decision so I cast around ie read widely to benefit from the wisdom of others ,cleverer,more experienced ,or both . In this respect someone whose words almost always impress me is Martin Barnes of "The Bank Credit Analyst" . He once warned that an increased focus on the short term had become one of the scourges of modern life ( you see it nowadays even in sport once seen as a way of relaxing ) and he cautioned investors to keep a look out for companies who are obsessed with propping up near term earnings as opposed to making the best long term strategic decisions . One of the reasons I believe investors will find that VBT turns out to be a much better investment than average can be found in it's shareholder list . The big players in VBT at this point in time are not the large aggressive institutions ,interested only in making a quick buck ,nor as far as I am aware do they have the likes of the large Merchant Bank Corporate departments urging them to make expensive earnings reducing acquisitions . The shares are tightly held and the pace of progress appears to be firmly under the control of the management and the directors - thats a big positive but not one you can quantify in accountancy terms so its not priced into a share value as it should be.(good news for current investors) A look at VBT's share price graph will demonstrate that marking the share price down from time to time has shaken out some of the more price sensitive holders and as I said above years ago I would probably have been one of those looking back with reget . As it might just be of benefit to others in the same way as it has been so often for me I have quoted below what Martin had to say about investing for the long term - it might not be new but I have found it worth rereading whenever the urge to sell good quality shares takes hold " Patience is a virtue when investing because even the best ideas sometimes take a while to play out . By all means abandon ship when fundamental conditions deteriorate . However if you are confident that you have purchased a good company then don't despair just because the price does not rise right away - as long as the fundamentals remain positive " |
Posted at 24/6/2005 12:44 by tuffbet Typical I go on holiday - when the share price is around 165p -stick to my resolve to relax which means no British newspapers or TV and what does Vebnet do - takes the opportunity to sneak in some of the good news I have been expecting - back this morning to find the shares standing at 245 offer ! Will now take some time to re read the news items but won't get too excited because as far as I am concerned (and you will see I have been consistent on this ) VBT still languishes as an undiscovered gem . The Pru link is nice to see but what has always attracted me as a shareholder is still there in great abundance ie the huge potential market they are growing into . My view is that the stockmarket isn't the perfect pricing machine some believe it to be especially for stocks of this type ie misunderstood or simply overlooked companies. Its pretty well perfect for pricing the larger and well known companies but you can't price anything you know little about . Today's price simply reflects the range achieved between the few individual investors and smallish institutions who know something about this company and therefore want to buy the shares and the founders who know what they are on to and have never been in any hurry to sell. Because the company is just starting to grow and not yet reached its main growth phase the supply /demand balance is likely ,IMHO to make it difficult to pick up stock so there might be some pressure on directors to release some more . This company has the potential to be huge in the financial market place I wouldn't be silly enough to make any price predictions but I believe we are only at ground floor level at this point . |
Posted at 18/2/2005 10:59 by tuffbet Having asked few months ago for some assistance from chartists on ADVFN in reading the VBT chart and receiving none I have spent some considerable time on the subject since then.Obviously with what one could term "limited experience" in serious chart reading I am not going to make too many claims about my ability for some considerable time yet, if indeed I ever do. What however I and I suspect anyone else who can see the chart on the screen can detect is that VBT is poised for a Breakout Up and should therefore be appearing soon on ADVFN's Toplists under that heading. Because the shares are hard to get a hold of in any size at all ( that should tell you something) it seems unlikely that it will be buying volume that is the catalyst for the move . I am only guessing here but I suspect VBT could get some good press over the next few weeks and once the price gets through 200p it should be off and running again (the MM will have to either move the price up to get weak holders to sell or move it sharply down to frighten out the same group ) I think it was the man generally regarded as one of the worlds greatest investors ie Jessie Livermore ,who said ... ' when a stock crosses 200 or 300 for the first time the price does not stop at the even figure but goes a good deal higher,so, if you buy it as soon as it crosses the line it is almost certain to show you a profit " Now I know he could just as easily have used 100 as 200 so the figure itself is not relevant just the fact that a round hundred is a psychological threshold . I ask myself what credentials do I a lowly ADVFN user have to question anything the great man said but in the interests of fairness and realism I might be tempted to take the words " almost certain" out and replace them with something such as "likely" ( is that too mild?) . On the subject of Livermore he also once said .... "millions upon millions have been lost by men who bought stocks because they looked cheap or, sold them because they looked dear " Keep that in mind when you look at the chart and read and analyse the fundamentals - how often did we read that Cairn Energy looked expensive at £3 , £5 , £7 and so on words written by those who simply didn't know enough to make such comments (although probably done with the west of intentions ) -what counted for Livermore was always what the tape and the supply/demand balance or as he used to call it " line of least resistance " was telling him . He made his fortune by correctly assuming that if shares were easy to buy ,which means of course they would usually look cheap , he didn't want to pick up what others were happy to be rid of basic lgic which people seem to understand when it comes to buying cars ie they still won't buy a Rover when prices are slashed because although it looks cheap AT THAT POINT IN TIME , they have enough nous to appreciate that they will get a very vey poor price when it comes to selling it . The fact is of course there is a better argument in respect of buying and selling a Rover than there is for buying the average punters type of share (no dividends) because at least with the Rover before the bad news comes you have the daily utility value of the transport try going to ASDA on your share certificate ( if you can do it get in touch with me right away ) Sorry to be hard on Rover ,for the sake of their employees I do wish them well they were simply I thought, a reasonable analogy to use to get my point accross As usual its only a wild guess but I think if Livermore was operating in todays UK market he might read the fact that it is very difficult to find VBT stock as a sure sign that he should be looking to buy. Anyway as I wrote the other day on the DRS post as Elvis said to me recently 'do your own research man " - if its good enough for Elvis it should be good enough for you and me - thats the only advice I will ever give - listen to the man and make up your own mind. Tempus edax rerum |
Posted at 26/10/2004 17:35 by tuffbet I have reason to believe that this could be one of the growth stocks of the next 5 years . That belief is largely based on fundamentals and business potential on which I hope to expand tomorrow ( sport takes over this evening).I am asking for help from chartists because it is not an area in which I have any expertise but my experience and more importantly the experience of investors much more successful than I strongly suggests that good fundamental analysis combined with intelligent reading of charts is the most successful way of trading stocks. If anyone with chart reading expertise is interested could I have your views on how the stock looks from a chartist point of view and why |
Posted at 16/2/2004 15:18 by tuffbet Well has a wee nip and an hour ot two to read some words of wisdom from the Masters helped me to shake of that desire for the price to drop back so I can buy some more ?I see there have been one or two sales ,hardly surprising given todays start ,perhaps I should join them . Or what about not waitng for the price to drop back (which is the decision I took on Friday to my regret ,) and just buying more so I have a decent stake before the herd arrive . Warren Buffett, widely regarded as the world's most successful investor, wrote ... "I sought out Phil Fisher after reading his COMMON STOCKS AND UNCOMMON PROFITS AND OTHER WRITINGS. When I met him, I was as impressed by the man as by his ideas. A thorough understanding of the business, obtained by using Phil's techniques ....... enables one to make intelligent commitments." The forward to the same book says ...... "Widely respected and admired, Philip Fisher is amongst the most influential investors of all time. His investment philosophies introduced almost 40 years ago, are not only studied and applied by today's finance professionals, but are also regarded by many as gospel. 'COMMON STOCKS AND UNCOMMON PROFITS AND OTHER WRITINGS' reveals these timeless philosophies. Ok that seems to me to be a rather decent set of credentials , worth listening to ? make up your own mind but here is what Phil Fisher had to say in this book about when to sell growth stocks:- "There is still one other argument investors sometimes use to separate themselves from the profits they would otherwise make. This one is the most ridiculous of all. It is that the stock they own has had a huge advance. Therefore, just because it has gone up, it has probably used up most of its potential. Consequently they should sell it and buy something that hasn't gone up yet. Outstanding companies, the only type which I believe the investor should buy, just don't function this way. How they do function might best be understood by considering the following somewhat fanciful analogy: Suppose it is the day you were graduated from college. If you did not go to college, consider it to be the day of your high school graduation; from the standpoint of our example it will make no difference whatsoever. Now suppose that on this day each of your male classmates had an urgent need of immediate cash. Each offered you the same deal. If you would give them a sum of money equivalent to ten times whatever they might earn during the first twelve months after they had gone to work, that classmate would for the balance of his life turn over to you one quarter of each year's earnings! Finally let us suppose that, while you thought this was an excellent proposition, you only had spare cash on hand sufficient to make such a deal with three of your classmates. At this point, your reasoning would closely resemble that of the investor using sound investment principles in selecting common stocks. You would immediately start analysing your classmates, not from the standpoint of how pleasant they might be or even how talented they might be in other ways, but solely to determine how much money they might make. If you were part of a large class, you would probably eliminate quite a number solely on the ground of not knowing them sufficiently well to be able to pass worthwhile judgement on just how financially proficient they actually would get to be. Here again, the analogy with intelligent common stock buying runs very close. Eventually you would pick the three classmates you felt would have the greatest future earning power. You would make your deal with them. Ten years have passed. One of your three has done sensationally. Going to work for a large corporation, he has won promotion after promotion. Already insiders in the company are saying that the president has his eye on him and that in another ten years he will probably take the top job. He will be in line for the large compensation, stock options and pension benefits that go with that job. Under these circumstances, what would even the writers of stock market reports who urge taking profits on superb stocks that "have gotten ahead of the market" think of your selling out your contract with this former classmate, just because someone has offered you 600 per cent on your original investment? You would think that anyone would need to have his head examined if he were to advise you to sell this contract and replace it with one with another former classmate whose annual earnings still were about the same as when he left school ten years before. The argument that your successful classmate had had his advance while the advance of your (financially) unsuccessful classmate still lay ahead of him would probably sound rather silly. If you know your common stocks equally well, many of the arguments commonly heard for selling the good one sound equally silly. You may be thinking all this sounds fine, but actually classmates are not common stocks. To be sure, there is one major difference. That difference increases rather than decreases the reason for never selling the outstanding common stock just because it has had a huge rise and may be temporarily overpriced. This difference is that the classmate is finite, may die soon and is sure to die eventually. There is not similar life span for the common stock. The company behind the common stock can have a practice of selecting management talent in depth and training such talent in company policies, methods, and techniques in a way which will retain and pass on the corporate vigour for generations. Look at Du Pont in its second century of corporate existence. Look at Dow years after the death of its brilliant founder. In this era of unlimited human wants and incredible markets, there is no limitation to corporate growth such as the life span places upon the individual. Perhaps the thoughts behind this chapter might be put into a single sentence: If the job has been correctly done when a common stock is purchased, the time to sell it is almost never. " Guess what I have decided to do |
Posted at 16/2/2004 11:04 by tuffbet This mornings action in the share price suggests to me that a recommendation from IC or one of the tip sheets is imminent . I am old enough and cynical enough not to believe in the existence of Chinese walls so I think thre might just be some "knowledgeable " buying in advance - only my humble opinion no more .Whatever the reason its not half knackered my carefully planned strategy to buy a day or so after the results when I had hoped the short term speculators would have sold and increased the free float of shares thereby reducing the share price . So its back on with the thinking cap. I know the theory ie if you are lucky enough to identify a real long term growth story at an early stage ,which is what I really believe we have here you should be happy to average up as more evidence appears that you are right and as I said in earlier posts a few pence at the front reallly doesn't matter further down the line . However I have to admit its not so easy to do the right thing - thats why of course so few investors win in the long term . I am off for an hour or two to see what the great investors of the past would and did do in the same situation - I suspect its what I said above ie average up the long term winners but I just need some confirmation, some reassurance. I guess we are already all sitting there this morning saying "why didn't I top up below 100p when I had the chance ,how many of us will be saying just the same thing as it passes through 200p - my guess is too many . At least Liontrust will be pleased with their placing -they don't make too many mistakes but their problem now is how do they get more stock I don't think the placing itself is meaningfull enough - my guess is one of the big holders possibly Cross Atlantic Technology Fund will be "encouraged " to sell some of their stake in order to allow other institutions on board . The managemnt of Vebnet will want a wider more diversified list of shareholders and it might even be suggested to them that "we would be happier to give you the contract if we had a financial interest in your company" - you know how business works. Its futile to guess how Vebnet will make it easier for institutional shareholders especially potential clients to get shares but watch out for some action in this respect. The fact that the stock is in the Financial sector and DR Nairn is so well known in that world will mean that this is not a small AIM company which will me missed on their radars because of its size - they will be watching and wondering how do we get the stock so expect to see a big change in the list of institutional shareholders by the time the next set of results come round . I am beginning to feel like an institutional shareholder myself ie "how do I get a bigger stake ? " I know I am just going to have to bite the bullet and go with the wisdom of the sages but a wee read at the pearls of wisdom and a few whiskies will probably help. If my next post is more garbled than usual you will I hope forgive me - I am sure it was Burns who said "a wee nip clears the heed" |
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