Access Intelligence Share Discussion Threads

[dgwinterbottom] 29/10/2012 08:51

I had the opportunity to chat to someone close to the Company recently who stated that Cobent was now fully established in the right track notwithstanding the fact it had been a far from satisfactory acquisition redeemed somewhat by the fact £2m had been returned. Once Cobent starts to make money rather than be a drain it should enhance the overall figures considerably I would have thought.

[greenpastures2] 07/10/2012 13:14

It does not matter if PIs are ignored at this stage. There is more than one VCT invested in ACC including Eldersteet. They will be wanting the Company to perform well so you can stop worrying about that side of things.

[lewis winthorpe] 05/10/2012 14:25

Patience, just forget about it.

Slowly but surely, end of year close

some decent buying which we've not seen in a while and i have heard some really positive things in the last few months.

L.

[orado] 05/10/2012 12:53

God this is a boring Stock. Now wish I never invested in it.
Management , imho, don't give a fig about loyal long term PIs.

[orado] 07/9/2012 14:01

LW

They just don't give a damn.

[lewis winthorpe] 04/9/2012 08:21

ACCESS INTELLIGENCE....

UPDATE THE NEWS ON YOUR WEBSITE. NEWS FROM 2010 is not good enough

L.

[orado] 31/8/2012 17:02

LW

I get the impression that ACC don't really give a sxxt about PIs.

I am long time holder with a substantial holding. Quite frankly getting very peeved off with their attitude.

[lewis winthorpe] 31/8/2012 14:16

One of the problems is the non rns news flow.

I know of at least 4 deals, individually smallish but add together quite substantially.

We just never get to hear of them

L.

[orado] 21/8/2012 10:25

zzzzzzzzzzzzzzzzzzzzz
wake me up when Acc do any good.
Thanks..................

[lewis winthorpe] 06/8/2012 10:14

I believe so.

[orado] 06/8/2012 09:19

Golden I Trust.!!!!!!!

[lewis winthorpe] 06/8/2012 08:55

I've heard the lame duck acquisition has at long last landed an egg

L.

:-)

[lewis winthorpe] 30/7/2012 11:33

GHF,

Your comments are welcome. I haven't much time explain today but I like both companies for different reasons.

I am happy with my ACC investment and as you say it is taking longer to realise. I am in this at a very low price average which eases my pain I guess.

All the best,
L.

[glasshalfull] 29/7/2012 22:21

Lewis,

I'm certainly not being disrespectful to you but I found ACC's recent H1 results quite poor. Especially in comparison to the results issued by peer Ideagen (IDEA) last week & which I'll comment further on via the appropriate thread.

In relation to ACC I think it's still very much jam tomorrow.

I received certain criticism from some posters on selling out following publication of the FY11 results in March when Northland slashed forecasts and indicated that Cobent had yet to turn the corner. Funnily enough the posters that offered up criticism when I sold are nowhere to be found now. Funny that....

Anyway, for balance I'll mention the positives IMHO.

Recurring revenues +12% and now represent 68& of total revenue and AI Media & Due North appear to be delivering good contract wins. Contracted revenue also jumping 63%. The main positive however remains the 6%+ dividend yield IMHO.

Unfortunately the negatives continue to impact ACC. AI Talent taking longer to turnaround; further restructuring; poor cashflow (more later); Public Sector will continue to prove difficult market for the foreseeable; capex continuing during 2012 & 2013 to fit out their York Centre & only breakeven for remainder of this year.

Nortland have reduced their price target from 4.2p to 3.6p but continue to maintain a buy rating.

Here are Northlands "Old" versus "New" forecasts for 2012 & 2013.

Mid 3.375p
Market cap of £7.7m

2012E Old (Northland March 2012 Forecast)

Turnover £8.2m
Adj. EBITDA £0.6m
Adj. PBT Tax £0.3m
Adj. Div EPS 0.10p

2012E New

Turnover £8.1m
Adj. EBITDA £0.2m
Adj. PBT Tax £0.0m
Adj. Div EPS 0.01p

2013E Old (Northland March 2012 Forecast)

Turnover £10.0m
Adj. EBITDA £1.5m
Adj. PBT Tax £1.3m
Adj. Div EPS 0.39p

2013E New

Turnover £9.3m
Adj. EBITDA £0.8m
Adj. PBT Tax £0.5m
Adj. Div EPS 0.15p PER 22.5


The other negative from Northland is the fact that net cash is also forecast to drop back rather than the significant rise we were led to believe.

At end of 2011 net cash sat at £4.16m. In March 2012 Northland forecast this figure would dip marginally during 2012 to £3.98m and then rise to £5.03m at end of 2013.

Clearly the additional investment, continuing Cobent restructuring & dividend have had quite an affect as evidenced by H1 2012 net cash reducing by £1m in just 6 months to £3.2m. Northland now indicate that it will reduce further during H2 2012 with year end forecasts indicating £2.6m.

However it looks like 2013 will now also see a further drop to just £2m at 2013 year end...net cash now some £3m lower than Northland forecast in March 2012!!!

Lewis, I wish you luck with your investment but I clearly think that IDEA is considerably better value on all counts and cannot see ACC making much headway for another 6/12 months until they demonstrate profitability, improve cash generation & hopefully turn AI Talent around.

Regards,
GHF

[lewis winthorpe] 20/7/2012 15:51

3.7p paid last trade.

[lewis winthorpe] 20/7/2012 13:25

Having to pay over the offer.. tick up soon

:-)

[lewis winthorpe] 20/7/2012 10:49

Good start to a Friday

:-)

[lewis winthorpe] 18/7/2012 15:15

Interesting trades so far. Directors perhaps/likely.

[lewis winthorpe] 18/7/2012 08:39

BTW the early shake didn't work. I would also expect director buying this week.

No mention of a dividend but I guess this will come at full year.

L.

[lewis winthorpe] 18/7/2012 08:38

As expected, nothing shocking.

"My prediction sales up and profit on target for 300k this year, good start to second half with lots happening"

still stands.

I can understand people not being blown away however personally think its a perfect time to add and I will be today.

L.

[orado] 17/7/2012 07:36

Am rather surprised and a tad concerned that there has not been any buying before interim results tomorrow.

[lewis winthorpe] 09/7/2012 13:59

My prediction sales up and profit on target for 300k this year, good start to second half with lots happening

L.

[orado] 06/7/2012 09:36

Interim results out 18 July.

Will they be - Good or bad??

Any thoughts.

[glasshalfull] 02/7/2012 08:56

O/T

I've created a new thread to mark Ideagen's move to AIM today and new ticker IDEA, via the link below.



Regards,
GHF