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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Civica | CIV | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 269.25 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 269.25 | 269.25 |
| Top Posts |
|---|
Posted at 12/12/2006 11:13 by honiton superb result...no commentshould be recommended in share mag and investors chronicle.. |
Posted at 14/12/2004 14:46 by aly48 Good article on CitywirePlenty of Civica pride Published: December 2004 By Joanne Wallen, Associate Editor Civica's maiden annual results have come in slightly ahead of expectations as the profitable and mature software firm proves why so many shrewd investors backed its March placing. When Civica floated in March and Citywire identified no fewer than nine shrewd investors buying in to the initial placing. The company provides IT systems to local government and the police, and according to chief executive Simon Downing, business is booming. Figures for the year to September have been stated on a pro-forma basis due to the reorganisation of the group prior to flotation, but actually reflect true trading performance. Turnover grew 17% to £104.1 million, pre-tax profits increased by 24% to £8.3 million, earnings per share advanced 25% to 12.9p and the company will pay a final dividend of 1.2p, making a total of 1.8p for the year. Cash generated from operating activities was strong at 174% of operating profit and the company finished the year with cash in the bank of £6.8 million and net current liabilities of £6.3 million. Downing said he was 'very pleased' with the results, which show a considerable strengthening of the business both financially and operationally. 'We've made some important investments that are really starting to pay off,' he said. The group won 50 new customers during the year, and now boasts some 327 local authorities in the UK and 47 of the UK police forces. It is also the number one software provider to local authorities in Australia. Civica applications include finance, e-procurement, parking, revenues and benefits. On the police side applications include surveillance and number plate recognition. Following a review of public sector efficiency by Sir Peter Gershon CBE, the 2004 government spending review included a target for efficiency gains of over £20 billion by 2007/8, (£6.45 billion in local government alone). Downing reckons Civica is well placed to benefit from the recommendations in the review. He said Civica has broad knowledge of a range of the back-end systems used in local authority, and is therefore very well equipped to help drive efficiencies by linking these systems. The company provides both software and consultancy, and has a growing recurring revenue stream from managing these software systems on behalf of customers. Recent wins include 10-year deals at London Boroughs of Kingston and Southwark and a 10-year partnership with NCP to provide parking services for St Albans City and District Council. There is also a seven-year agreement with City of Lincoln to provide services for Revenues, Benefits, Environmental Health and ICT departments. The company does not yet offer full business process outsourcing, but Downing said this would be a logical next step. Civica has a small business in the US which is profitable, but Downing said the strategic focus for now is the UK and Australia. The shares are up 1p at 211p. We said in June at 193p that they were a good longer-term bet. Citywire Verdict: Civica is a pleasingly mature and profitable business for a recently floated company, and its prospects in the local authority and criminal justice arena are promising over the next few years. House broker Seymour Pierce has a buy rating and 250p price target on the stock. It points out that earnings per share growth of 25% and a further uplift forecast by the broker of 20% this year are at the top end of the peer group, while the shares are trading on a multiple at the low end of the group. At the price target the shares would be on 15 times earnings, and are currently on just 11.8 times the broker's 2006 estimates. |
Posted at 19/10/2004 14:18 by rogerl I have this as a long term hold, it seems a good solid business with lots of upside and little downside an investors stock not a speculators stock |
Posted at 16/6/2004 14:32 by johnroger Comment from the IndependentCivica stands out in tech sector and is worth buying Civica, the software business supplying local authorities and police forces, beat expectations with maiden interims yesterday and looks decent value for intrepid technology investors. Although it focuses on the public sector, it is not dependent on the public spending cycle for its turnover. Its software drives various initiatives for efficiency improvements in the public sector; a theme dear to the heart of Gordon Brown. It announced a new contract win yesterday with the Kent police force to supply car number plate recognition systems - a good example of the type of business it is involved in. It came to the market in March at 175p and the shares yesterday were 193p. For the six months to the end of March sales were up 19 per cent at £52.5m and profit before tax was up 12 per cent at £3.8m. Turnover rose across all three main areas of its operations. Software systems were ahead from £33.9m to £41.2m. Managed services, such as processingroad traffic penalty notices in the London borough of Southwark, was up from £5.3m to £5.6m, and Civica's consultancy business sales rose from £4.8m to £5.5m. Civica shares are on a price earnings ratio for the current year of about 14. In a technology sector where many valuations are looking stretched, this stands out for its fairness. Buy. 16 June 2004 14:30 |
Posted at 15/6/2004 22:03 by aly48 Good set of results, you get the feel right from the start that this is a strong company, not always the case with companies coming to AIMGood article on City wire ............. Civica maiden figures vindicate shrewd backing Published: 11:42 Tue 15 June 2004 IT software and services company Civica today showed the sort of form and prospects that encouraged so many shrewd investors to pile in at its AIM flotation in March. Civica (CIV) specialises in consulting and IT systems for local authorities and the criminal justice system. As Citywire highlighted, we found no less than nine shrewd investors taking a stake at the placing in March, at which time Alchemy Partners, the investment company of maverick entrepreneur Jon Moulton, sold down its stake to 38.8%.Today the company reported turnover for the six months to March of £52.5 million, up 19% on the previous year. Gross profit rose 14% to £16.3 million and pre-tax profits were up 12% to £3.8 million. Diluted earnings per share before amortisaion and exceptional charges were 5.4p, up from 4.9p. The company generated net cash at 156% of operating profit, leaving it with some £6.1 million in the bank at the end of March. Civica has bank borrowings of £20.5 million.Chief executive Simon Downing told Citywire that Civica has strong domain expertise in areas such as revenues and benefits, parking services, life-long learning, and it uses this in its consulting business to help local authorities improve efficiency and often to secure central government funding for system improvements.If it does its job right it should then be able to 'pull through' its own software to provide the systems required to run these local authority functions.What would have interested the shrewd investors, who include the likes of AAA-rated fund manager Giles Hargreave, AA-rated John Dodd of Artemis, A-rated Bob Brown, Carl Stick at Rathbone, Framlington's George Luckraft and Brian Watson and former fund manager Leonard Licht, is both Civica's track record and its prospects.The company has been going since 1987. Alchemy bought 1104 in when the management bought the business out from its parent Sanderson Group in January 2000.Apart from being profitable and cash generative when it came to market this year, Civica's prospects look better than ever as one of the handful of major IT suppliers to the local authority sector. Competitors include Anite, Northgate Information Systems and ITNET, and each of these is benefiting from increased government spending on joined up government as well as the drive to improve efficiency and cut costs within local councils.To date, all of Civica's growth has been organic, but it has identified some 'gaps' in its portfolio, such as for example housing and social care, and it intends to fill those gaps in order to have a complete offering for local government. To that end it is looking for appropriate acquisitions, and Downing said there are still a large number of specialist niche players, ripe for consolidation As well as growth through acquisition the company is increasingly providing its software as a managed service, thus building contracted and recurring revenues. Two recent wins include a three-year, £1.7 million deal with Transport for London and a five-year, £1.3 million deal with Apcoa parking to provide services to Southwark Council. Civica is also looking at bidding for larger, central government projects, and believes its new profile as a public company will help with this. House broker Seymour Pierce is looking for sales of £100 million, (boosted by some exceptional sales of Microsoft software) profits before write-offs of £9.6 million and earnings per share of 13.2p this year. For next year it expects turnover of £96.6 million, £10.7 million profit at 15p per share of earnings. Shares are up 2.5p at 193p. The broker says that at 14.8 times this year's earnings and 13.1 times next year's the shares are at the low end of the peer group, which is at an average of 17 times. Citywire Verdict: There does seem to be enough on the horizon - organic growth through managed services and central government and acquisitions to make this an interesting growth story. The price does still look reasonable in the current market, but since flotation the shares have bounced around a bit having been issued at 175p and gone as high as 200p. Still, the shrewd money is in there and for the longer term Civica looks a fair bet. |
Posted at 27/2/2004 18:05 by wole Who is CIVICA?Civica has been delivering software and services for over 18 years to local authorities, criminal justice organisations, healthcare and education establishments as well as key markets in the private sector. We supply many organisations in the UK, Australia and the USA, including over 700 local authorities. INVESTORS CHRONICLE VIEW: [Civica's] float is a chunky fund-raising, particularly considering the dearth of software-related flotations over the past couple of years. With the government intent on delivering all its services electronically by 2005, the outlook for Civica is positive. One to watch. Total number of Ordinary Shares being placed: 25,714,286 Issue price per Ordinary Share: 175p Number of Ordinary Shares in issue immediately following Admission: 45,255,690 Percentage of the Enlarged Share Capital being placed: 56.82 per cent Market capitalisation at the Issue Price: £79,197,457 |
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