AI Claims Solutions Share Discussion Threads

[scotswhaehae] 01/11/2006 13:59

I get the feeling that a 'step change' upwards is upon us...

Directors have their cheap share options granted now so nothing stands in the way!

Watch this space!

[elmfield] 13/10/2006 15:47

Value will out, it is just that you have to sometimes wait a while.

[tole] 13/10/2006 14:41

Looks like its the 10k @ 18.5p - nice to see another 10k @ 19p to add to the fire as well.

Perhaps some more buying going on in the background - another tick up now 4v4 - with online limits only allowing buyers a measly 3750 @ 19.25 whereas the MM's are looking for stock bidding 37.5k @ 18p ( a half penny premium to the advertised bid price)

[elmfield] 13/10/2006 12:25

Not sure what I got but think cleaned up at 18.5p.

[tole] 13/10/2006 11:22

Well it is on my radar now - definately looks as if it is breaking that 3 year downtrend. :)

Seems like your buy elmfield moved the market - L2 improving now 3v1.

[scotswhaehae] 13/10/2006 11:17

Not much volume yet but a few small buyers appearing...

Above 20p and we will get on momentum buyers' radars imho...just like at GETM...

[elmfield] 13/10/2006 11:02

Going to add.

[scotswhaehae] 11/10/2006 08:42

I suspect a rerating is getting underway...

We could well see a smartish move up imho...

Keep an eye on the (delayed) volumes...if they pick up we should see action ?!

[alexacj] 10/10/2006 19:13

Agree Scots........the story is a good one here and after positioning the company on the side of the insurers we are finally seeing (and this is agreed by all CHO co's!) that insurers are going to outsource their mobility requirements.....couple that with the pilot with a top 5 insurer together with an enlarged distribution platform then it appears all is falling in to place here.....no wonder the directors have added!....interesting news from Aquilo.....I think that you may be more right than you think Scots on "takeover potential"......let's see what happens!

[scotswhaehae] 10/10/2006 07:34

Now the Directors have made their share purchases we will no doubt be allowed to rise to a more sensible share rating...!

Substantial progress deserved imho...

Should be fun!

[theredadmiral] 29/9/2006 21:01

Alexacj

Just wondered LOL....

They certainly are an interesting set of results.

I gather that they "parted ways" with a major insurer (Highway) in early 2006 and that this apparently resulted in a downsizing. This would probably explain the reduction of borrowings to £2.6m (2005: £6.4m).

Does anyone know who the 2 major insurers are?

[alexacj] 29/9/2006 07:57

LOL RedAdmiral.......no I don't work at ACS! "We" being the shareholders of which I am one!
dcomd99......just tried the website and the links seem to work for me.....however do agree that it is not the most "impressive" site in the world!.......Not really too sure how many customers they will actually "sign up" via the website but it does seem to be one of the first stops for PIs......to answer your other questions it may be worth reading back over this site as most of your points for discussion have been raised.

[dcomd99] 28/9/2006 21:38

Some random comments/questions.

The web site



is awful. The left hand links simply don't work. Not a good first impression!

Is it fair to compare ACS with ACE?

ACE:
Turnover £53m
Op Profit £17m
Cash Flow £6.7m
Cap £225m

ACS
Turnover £38m
Op Profit £1.8m
Cash Flow £4.8m
Cap £10m

ACE is clearly much better run, but is on an extremely high rating. ACE have a very slick website.



Is there any real possibility of ACS becoming as slick as ACE? (in terms of profitability?)

Who are ACS's real competitors? There appear to be loads of Accident Management companies.

[theredadmiral] 28/9/2006 21:16

Alexacj

You state "We" - Do you work at ACS?

[alexacj] 28/9/2006 11:42

Interesting thoughts....can quite clearly see the benefits to some other quoted CHOs but ACS would never sell at these levels........the company is well protected with over 75% of it's shares in safe hands all of whom would not accept any offers anywhere near todays price imho!!!!!!.....but as you say food for thought!!
If you apply a reasonable p/e of 15 to todays results we should be at about 30p and then forget where we have been and look to next year and apply the same p/e we should be on about 40p!....That does not take into account the 2 pilots we are going to undertake....one with a top 5 insurer and 1 with a broker with significant potential.....mmmmmmmm.....where to in 2008?

[scotswhaehae] 28/9/2006 11:26

Could attract takeover or (cheeky!) MBO interest imho...

Watch this space!

[alexacj] 28/9/2006 10:25

Well some highlights worth mentioning I think!

Forward p/e now of 6!

Adjusted PBT (before goodwill amortisation and exceptional administrative costs) increased by £1.2m to £1.45m (2005: £249,000).this has beaten the consensus estimate of £1.4 million.

Gross margin increased to 24.8% (2005: 21.0%).

Operating cash flow of £4.8m (2005: £(3.7)m).

Borrowings reduced by £2.6m(after payment of £1.2 million for IT) to £3.8m (2005: £6.4m).Leaving £6.2 million
available!

2 new relationships with leading insurers came on stream.

A pilot with a top 5 insurer due to commence.(Remember the business model is based on low margin high volume and the majority of new business profits should now go to the bottom line)

"Our cash position improved considerably during the year and particularly during the second half year. Cash generated from operations of £4.8m was particularly strong. Our debtor days average 75 days (2005: 88 days) which compares favourably to the sector. This is a testament to the relationship we have with the large insurance companies and the strategic focus we have placed on this activity during the year."

"We have broadened our distribution strategy moving forward and have launched initiatives in the areas of brokers, repairers, fleets and manufacturers/dealerships which I expect to be earnings enhancing during the
year.".....AT LAST!!!!!!we are now broadening the customer base......and already "have developed a new
product suite for the insurance broker market and are about to commence a pilot
with significant potential."

"I look forward WITH CONFIDENCE to delivering a successful 2007. I expect that profits will be weighted towards the second half of the 2006/07 financial year reflecting the development of commercial relations and seasonality in the business."

[scotswhaehae] 28/9/2006 10:05

...all buys so far imho allowing for the delay in reporting...

...bodes well!

[alexacj] 28/9/2006 08:13

With a forward p/e of just over 6 and an optimistic outlook then I think that your purchase should reward you Wiganer!

[wiganer] 28/9/2006 08:11

scots- I admire your optimism, but feel that 28p will be a big ask. 20p+ should be a doddle though, so I'm back in.

[trixter] 28/9/2006 08:09

Good balanced statement giving confidence for now and the future. They look to have an increasingly interesting proposition for insurers.

[alexacj] 28/9/2006 08:07

Nice to see you back Scots......couldn't agree more with your comments....well done to David and his team!

[scotswhaehae] 28/9/2006 08:07

Buying behind the scenes going on imho...watch for delayed buy trades!

[scotswhaehae] 28/9/2006 08:06

Better than sound I should say...excellent second half and the most optimistic forward statement for years...

We should see a move into the mid/high 20s...say to around 28p as the fundamentals hit home at last!

Great stuff...and a great opportunity at these prices imho!

[alexacj] 28/9/2006 07:53

Looks like a "sound" set of results to me with a good outlook statement that includes new business trials with the broker market ( a new product) and a top 5 insurer (which could potentially lead to profit upgrades!)....looks like we are now on a forward p/e of about 6 for 2007!!!!