1ST Dental Laboratories Share Discussion Threads

[adam7] 03/2/2006 08:50

Too much speculation. FDT is the largest lab. now I believe and the impact if any on the proposed changes in NHS funding should not impact substantially on their profitability; especially as it would seem more and more dentists are going into private practice, and that is where any growth will be. Regarding dentists selecting suppliers I would suggest the usual criteria applies, i.e. price quality and service; not necessarily in that order.

[pugugly] 03/2/2006 07:00

kc:> Interesting. Is this because of uncertainty over the impact of the new NHS regime or possibly specific to our company -

The recent rns's have have spoken about "the longer than expected time to integrate" Does your friend know if this Is this sorthand for customers of Benchmark or other recent purchases taking their business elsewhere by any chance?

[kilo class] 02/2/2006 21:53

I can tell you an employees view and he says wait!!!!


KC

[pugugly] 02/2/2006 19:32

Surely the assets of this company are substantially GOODWILL (listed in the accounts as intangibles

From May 05 Interims
Fixed assets:
Intangible assets 7,728K
Tangible assets 2,170K
Total 9,898K

Question:- How much is the goodwill worth?

What I do not know is what makes a dentist change his supplier. How many different labs does a dentist use and why should he use one of ours when there are a lot of competitors out there? Anyone know the Dentists views on our company?

OK I know there have been considerable corporate actions since May but if anything I suspect that the amount of Goodwill on the balance sheet has increased.

Any views?

[adam7] 02/2/2006 17:19

pleased to see resistance at 18p. Ridiculously low at that level.

[pleased2meetyou] 02/2/2006 17:08

Good value now, but a few more pennys to go, I think 15p would be a strong buy

[kilo class] 02/2/2006 16:39

hyb

Wait in my view and as soon as the industry sorts itself out they are worth buying imo

KC

[bengal1] 02/2/2006 14:40

some good buying but not showing on ADVFN.

[kilo class] 02/2/2006 10:01

Dentists are getting out of NHS agreements and going private. This is because the proposed new funding of NHS dentists is based on a points system. They have a target for the year and if they don't reach the target the Government will claw back the cash. Dentists view is thatv they can earn as much by doing half the work load as a private dental practice. Hence the knock on to dental labs.

I think with the uncertainty over the dentist industry the share price may fall further. Only my opinion but as always dyor.

KC

[hybrasil] 02/2/2006 09:48

what do you regard as the right price?
I have been drawn to these as they continually hit all time lows

[kilo class] 02/2/2006 08:17

Having bought well and sold well in the early part of last year I have tracked this share over the last 12 months. There is a huge amount of uncertainty in the dental laboratory sector as the Government shanges the basis upon which dentists operate. A lot of dentists will have no choice but to go private and it then becomes a cost issue people will go to the dentist less frequently and therfore the expenditure on crowns etc will go down. In some areas where the significant amount of patients are private and have subscibed to a dental plan then they will continue to pay for treatment. I agree with Adam7 we need to get the split between NHS and Private to form a balanced opinion.

I also have a friend who works for one one of the companies taken over in thast 2 years and his view is that it will be tight in the short term whilst the Government changes the way Dentists do business. Apparently in the short term NHS dentists will be paid by the Government based on their workload 2 years ago even though they won't be seeing any patients and hence won't use dental labs.

I am not in these again yet but will be at the right price.

KC

[bbbb] 01/2/2006 22:18

the expectation is that in the longer term much dental work involving lab charges
currently done in the nhs may migrate to the private sector.

however, as people currently taking full advantage of the nhs are
likely to be cost sensitive, their spending may become more dicretionary,
subject to competition from other consumer items, and more sensitive to general economic conditions.

[adam7] 01/2/2006 18:47

why not e-mail andrew garner to get answers? He should at least be able/willing to give an indication of how turnover is split between NHS/Private practices

[bbbb] 01/2/2006 16:27

pugu: the mechanism may not be quite as you say, but the end result could well be.

[pugugly] 01/2/2006 16:15

bbbb;> No split in the Finals via rns:>
Does not appear to be any Final Report available via the terrible web site.
No breakdown in latest Brokers research note.
Will have to get a hard copy - Which could take ages.

The implication from your note is that the nhs may be screwing down lab prices and hence margins in a similar way to the the squeze on fees allowed to dentists for nhs work.

Have I taken the correct message.

[bbbb] 01/2/2006 15:58

pugu: the annual report should give a breakdown of the percentage contribution
to t/o and profits of nhs and private work.

the dental professional publications report concerns within the profession
for the changed funding arrangements for nhs dental laboratory work after april.

there seems to be general consensus that there may not necessarily be a government funded bonanza ahead for that sector over the short to medium term.

[pugugly] 01/2/2006 15:16

bbbb:> Had not spotted the nhs side. Can you amplify or give me a lead as to where to find details.

[adam7] 01/2/2006 15:14

You can't win em' all. I'm in these rightly or wrongly for the long term.

[bbbb] 01/2/2006 15:10

with april 1st 2 months away, the unknown outlook for the nhs side may well
be what's holding these back.

[pleased2meetyou] 01/2/2006 15:04

You've got a tough choice to make mate, and there is only you who can make it. I didn't realise you'd bought at such a high price, Long term 5 years you'll probably be okay, short term to cover your loses, get the time correct and get back in at the bottom, again all this is only my opinion.

[adam7] 01/2/2006 14:55

27.5K @ 38p. Better news in the rest of my portfolio though. This one putting a drag on the rest

[pleased2meetyou] 01/2/2006 14:47

Personally I think you should be okay mate, if you dont mind me asking how many do you hold and at what price??

[adam7] 01/2/2006 14:42

Last 5 trades each with a value of less than £500. Seems small investors are jumping ship. Hope I'm right in holding!

[pleased2meetyou] 01/2/2006 09:39

Interesting too see there moveing down again today, Hope everyones still holding on, not much further to go, a few more pennys and you should be okay.

[adam7] 01/2/2006 09:32

Rumours are just that and can do damage to the share price In the absence of any evidence to the contrary I am prepared to give the co. the benefit of doubt. Andrew Garner e-mailed me yesterday and referred me to the latest trading statement and restated that view - to summarise he is looking forward to 2006!
Like other investors I have some concerns about the falling share price Regarding the profit warning this also is not something peculiar to FDT alone. The company remains profitable but with a downside of reduced profitability from previous estimates. The fact that the FD is leaving has also not helped. I'm hoping that this is all the bad news in one hit. I'd be interested to know other punters views.