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ACC Access Intelligence Plc

54.50
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Access Intelligence Plc LSE:ACC London Ordinary Share GB00BGQVB052 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 54.50 54.00 55.00 54.50 54.50 54.50 33,004 08:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Computer Related Svcs, Nec 65.71M -4.19M -0.0328 -16.62 69.6M
Access Intelligence Plc is listed in the Computer Related Svcs sector of the London Stock Exchange with ticker ACC. The last closing price for Access Intelligence was 54.50p. Over the last year, Access Intelligence shares have traded in a share price range of 54.50p to 79.50p.

Access Intelligence currently has 127,699,000 shares in issue. The market capitalisation of Access Intelligence is £69.60 million. Access Intelligence has a price to earnings ratio (PE ratio) of -16.62.

Access Intelligence Share Discussion Threads

Showing 1501 to 1523 of 1850 messages
Chat Pages: Latest  62  61  60  59  58  57  56  55  54  53  52  51  Older
DateSubjectAuthorDiscuss
07/3/2012
22:34
Now had time to look through results more thoroughly and stand by my initial thoughts contained in post 47. They have demonstrated that orders are coming in (deferred revenue £2.6m and contracted but yet invoiced amounting to £2.7m), recurring revenues at 66%, dividend yield of 6% and net cash amounting to 2p per share....oh,and Cobent "appears" to be finally turning around.

Also very impressed with AI Control Point and AI Procurement (Due North) which I think combined are worth more than the EV value of the business without consideration of any of the other subsidiaries.

I reckon that the initial markdown surrounded the fact that growth in profitability will be muted this year given R&D and investment in infrastructure, but on a closer look it is apparent that if management can get the businesses working more cohesively then there are considerable cross-selling opportunities.

We're 3 months into FY 2012 and valuation is clearly underpinned by cash with little value attributed to the 6 subsidiaries. These look an excellent medium term play IMHO and if/when Cobent is turned around, & investment phase completed we could see operational gearing kick in and sharp increase in profitability...well, I hope so ;-)

Regards,
GHF

glasshalfull
07/3/2012
18:46
Good article by sharecast sums it up if not a bit too negative:-



L.

lewis winthorpe
07/3/2012
18:29
Its been a funny old day for the sahre price. Down a bit at the start and up at the finnish. Just read through the results for the fourth time and i reckon they are sound. They look to have a set of businesses with great potential.

Chart also looks v. bullish and i will just add that often you find that the share price can recover ahead of the actual business.

cfro
07/3/2012
17:19
Have to say as in my posting no. 46...once again awaiting the "golden tomorrow" but far more promising in terms of future outlook than in the past!!
dgwinterbottom
07/3/2012
14:44
I would not be surprised if the VCTs put some pressure to pay a dividend as it is likely to take awhile for capital growth to come through.

I have shares in Elderstreet VCT and know from the reports that ACC's fall in share price over the last two years has affected Elderstreet's net asset value. The dividend will help towards the VCT being able to pay its dividend, always soothing when NAV is static.

Michael Jackson is a director of both companies.

greenpastures2
07/3/2012
14:26
I have had a chance to look more closely at the results.

It does show confidence to pay a maiden dividend of 0.2p, which to my mind means management are confident that Cobent's problems are behind them. They do say that Cobent have been self sufficient in cash terms since July 2011, and thay hope to return the business to profit in the first half of 2012.

Also management expect to see the full benefits of investments in products and marketing to come through in the latter part of 2012.

Cobent cost ACC £642,349 last year, £333,782 Re-organisation and £311,567 in losses. Which is equal to LPS of 0.255p. So this figure wiped out the profits from the other divisions.

It's hard to work out figures for this coming year, but looking at the other divisions thay would have made £0.967m or 0.37p if no tax was paid, which is likely to increase this year to appx 0.43p? Add a small profit on from Cobent of £150,000 or 0.05p EPS to the 0.43p = 0.48p and ACC does look cheap at 3.0p.

Highly speculative at this stage, but I believe it shows the potential here.

ic2...

interceptor2
07/3/2012
10:23
I echo IC2's thoughts above, i lot to tkae in on one go hence i went through the results three times. That wasnt helped by my computer playin up!

Even slightly better results than what i had thought they might be. The future looks exciting imo.

cfro
07/3/2012
09:31
Thanks Lewis, I had been looking at the website, not yet posted thereon!!
dgwinterbottom
07/3/2012
09:29
Not many companies on AIM giving a 6% dividend.
orado
07/3/2012
09:11
I have seen the announcement of the new Finance Director can we expect the publication of results today?
dgwinterbottom
07/3/2012
08:44
A lot to take in but happy with the sentiment of statement, and management seem to be taking the right action. As I understand it looks like Cobent are likely to breakeven/small profit in H1 and return to higher profit in H2.

ic2...

interceptor2
07/3/2012
07:55
Hi Orado

Yep, I liked them overall and even more apparent to me the inherent value in some of the businesses with 3-year contracts and deferred revenue looking good. My main concern was that Cobent would continue to haemorrhage cash and costs but the statement reassures that the "problem child" is now under control.

Regards,
GHF

glasshalfull
07/3/2012
07:48
Good morning Glasshalfull

I must say I am pleased with the results and the 6% divi.

orado
06/3/2012
19:55
Hi all - I have been in for some years having originally bought at 8p and that was before Michael Jackson was involved. They certainly seem a lot more organised and focused now than they have ever been notwithstanding Cobent, in my experince it has always been a case of the "golden tomorrow" that has always seemed to be elusive, lets hope we will see some solid progress from here on. Given the experience and background of Michael Jackson I was most surprised with the Cobent debacle, fingers crossed for tomorrow!!
dgwinterbottom
06/3/2012
19:21
I did buy an initial position yesterday, thanks for the heads up cfro and the detailed research GHF. Still learning about the business, and will await tomorrows results with interest.

I echo cfro thoughts, that with Michael Jackson at the helm, this is a company not to be traded for short term gains. So I would like to slowly build a decent stake and hold for a long time.

ic2...

interceptor2
06/3/2012
18:22
Main thing that worries me here is the involvement of T1ps.com and GECR. They really do buy and peddle some terrible stuff.
Flip side is that Octopus are involved and I rate them quite highly.

I'll be watching with interest tomorrow.

stegrego
06/3/2012
18:15
Just awaiting tommorrows results now, then we will see what we have.

If you want a penny for my thoughts here, im just currently thinking along the lines of valuation being as thus: Market cap of £7M - cash £4M - so value of all the businesses just £3M. As a rough rule of thumb i reckon the businesses are worth alteast £10M as a whole so add on net cash £4M and you get a potential value of £14M (£10M + £4M). Thats double where we are and assumes no growth in the various businesses plus no use of the cash.

cfro
06/3/2012
17:46
cfro - I agree with your comment about management NOT squandering cash. They were badly bitten with the Cobent acquisition as we all know and the AimZine article confirmed my thoughts that they will only buy if terms are right & they certainly dont appear to be in any rush. Management would lose all credibility if the buy another "pig in a poke".

Hopefully in due course they'll buy another Solcara ;-)

Regards
GHF

glasshalfull
06/3/2012
17:30
Well done Lewis. Let's hope it proves to be profitable for you.

Ive noticed that there's plenty of investors visiting the thread and it would be good to generate some more discussion. I appear to have a monopoly of detailed posts on the DOTD thread and hoping that ACC doesn't follow suit....so come on, a few comments on results or prospects following tomorrows results please!

Kind regards
GHF

glasshalfull
06/3/2012
09:43
3.34 trades are buys

:-)

lewis winthorpe
05/3/2012
18:20
Blimey!..i never thought i would be immediately in profit here!! :0))

Glasshalfull, Yes, the 'hidden' value is plain to see when one digs a little deeper. £4M in cash too, which is nice to have in this enviroment. Dont think the management would squander it. And thanks for pointing out about the R&D. In my experience it is rare for software co's to NOT capitalise their R&D to some extent.

This is one im going to very patient with. No diving in and out for me. we are going to have to give management plenty of time here to deliver imo. It could be a multi-bagger if they do.

cfro
05/3/2012
17:48
cfro - Glad that you also see value. I'm in good company ;-)

Once you look through their subsidiaries and get an idea of the breadth of their offering they really do look excellent value at the current price, especially with almost 60% of market cap net cash.

Also worth noting that they expensed £318k for R&D in H1....therefore profits not flattered like many other software businesses who capitalize R&D.

Regards,
GHF

glasshalfull
05/3/2012
17:42
That's my take as well Lewis and the reason that I thought it worthy to flag the various businesses and reasonable assumption of the underlying value in each.

I mentioned the acquisition cost of a number of businesses and clearly ACC did something right and achieved an excellent profit in selling off the non-core part of Solcara for 3.3 times multiple of sales....so is there further hidden value in any of the 6 subsidiaries???

Also, that problem child Cobent delivered EBITDA of approximately £553k in the year ending 31st December 2009. Clearly the wheels thereafter came off but with costs removed and new management in the AimZine article which indicated improved performance: -

"A key factor in meeting forecasts for 2012 will be the performance of Cobent. The Chairman is pleased with progress here in recent months and the business pipeline is growing. Although he indicated that it may take some time to build sales in this business. The 2012 forecast for pre-tax profit of £1.2 million includes no contribution (negative or positive) from Cobent."

So, if Wednesday's statement backs up this positive development then there is every opportunity that Cobent may begin to contribue to the bottom line. If only it could get back to 2009's performance!

Regards,
GHF

glasshalfull
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