||EPS - Basic
||Market Cap (m)
|Software & Computer Services
Real-Time news about Vega Grp. (London Stock Exchange): 0 recent articles
|cwa1: Morning Gentlemen
Just joined your merry band with a couple of trades through different brokers-neither of which are showing yet.
Looks an interesting punt ahead of 6/12 update, given that the trading update was generally positive and the share price has come well off the boil since highs.
Good luck with the holding to all.|
|skufos: Results out :-) and yesterday the share price was less than it was a year ago!
Have extracted these highlights:
'Key Points - Financial
Third successive year of double digit growth in revenues and profits
Revenue up 18% to £62.1m (2005: £52.6m)
- UK up 19% to £40.0m
- Germany up 13% to £17.0m
- Rest of Europe up 34% to £5.1m
Operating profit up by more that 20% for fourth successive year
Adjusted* profit before tax up 21% to £4.5m (2005: £3.7m)
Reported profit before tax up 22% to £3.9m (2005: £3.2m)
Adjusted* diluted EPS up 30% to 17.3p (2005: 13.3p), including the
impact of R&D tax credits
Proposed final dividend of 1.875p, giving a total for the year of 2.5p
(2005: 2.0p), up 25%
Net debt decreased to £1.6m (2005: £2.4m)'
Surely these results are not priced in at this share price level?|
|tole: The GCI note from last week worth a mention if nobody has seen it...
VEGA's star-studded appeal
Consultancy and software services play VEGA smashed forecasts last year after focusing hard to win increasingly valuable business in the aerospace, defence and government markets.
The group (which actually floated on the London market back in 1992 at 122p) is a pivotal programme and system assurance company to these industries. Operating in both Europe and the US, it helps clients manage major, mission-critical business programmes and system implementations.
Its speciality is its focus on slashing the risk of system failure, which naturally drives up the success rates on the various high-profile programmes it is engaged in.
In the space sector, VEGA supports scientific and military satellite programmes. It has been involved in 'almost every' European Space Agency mission over the past twenty-five years and its other clients include commercial satellite operators and manufacturers like Inmarsat and Alcatel.
In defence, it boasts a lengthy track record of support work with the likes of the Defence Procurement Agency, European MoDs and system manufacturers like BAE Systems. VEGA also provides support and project management to the UK government, such as the Department of Health, the Foreign & Commonwealth Office and the Inland Revenue.
Final figures to the end of April, reported in July, were exceptionally strong, with pre-tax profits vaulting 42 per cent north to £3.7 million on a 19 per cent sales rise to £52.6 million. The dividend doubled to 2p per share and chief executive Phil Cartmell (who is largely responsible for VEGA's reinvention as a serious growth stock) announced net debt of £2.4 million, half the level pencilled in by City analysts, thanks to handsome cash inflows.
The numbers were driven by a strong showing in the government and defence business, where sales soared 19 per cent higher to £30.4 million, while analysts warmed to an in-line performance at the space business.
One of the year's major highs was VEGA's selection as a prime contractor on procurement consultancy for the MoD. Its selection for a C70 million ground data systems programme for the European Space Agency was another significant event.
Recent encouraging wins include confirmation from the European Space Agency of VEGA's selection for a seventh consecutive contract providing operational support services to its space operations centre in Germany. Cartmell says this work will be worth about C6.5 million to VEGA in the first year alone. Another deal he highlighted was work worth over £4 million with the UK government; VEGA has responsibility for building 'a secure information system for the UK intelligence community'.
Forecasts for this year, upgraded on the 2005 figures but issued before recent contract wins, suggest profits of £4.6 million and earnings of 15.2p. For 2007, investors might expect a £5.3 million surplus and 17.5p of earnings. After a good run, VEGA has suffered a recent share price correction, which means the shares are changing hands for only 12.3 times 2006 earnings, a rating that falls to 10.7 the following year. Given contract wins, strong growth prospects and Cartmell's reassuring hand on the wheel, we feel there is plenty of upside for investors here.|
|jfmullins: Just looked at the share price for the last year and noted the rise from 120-200p from November -January. Could be that the same momevement will happen to this share very shortly, in the build up to the results.|
|gerrrard125: The hugely cash generative nature of the refocused business, is in particular,
being overlooked by the market.
However, following full year results announced tomorrow, Vega's powerful growth will begin to be factored in to the share price.
The last day to buy before re-rating IMHO.
|diamondal: Should be interesting what SHAREWATCH has to sayabout latest developments
on this company. It can only serve to boost the share price.|
I think this is a cracking little company which has been well and truly oversold. The forthcoming set of results which are due @ 2nd July are finals, and if it hasn't happened before I firmly believe the company will be completely re-rated. They are growing earnings by more than 20% a year and operate in a niche market. Whats more Veg is rather illiquid so any sustained bit of buying will send the share price flying.
Like the previous two years I fully expect Veg to issue a trading statement towards the latter part of April. Should this confirm things to be all go, it should act as a catylyst for the share price.
Furthermore I believe there was a broker note issued recently giving a target price of 250p. I don't know whether Veg is capable of that, however I firmly believe the shares are considerably undervalued.
|casino123: good news today about contract looks like the rise in share price we now start to happen|
|casino123: looking like an upturn anytime in share price if history repeats itself|
|sussexseagull: LOL!......Funnily enough i was going to post on the other thread that at this rate of share price increase it was time to re-open the "Vega Flying" thread. :-)|
Vega share price data is direct from the London Stock Exchange