Conduit Share Discussion Threads

[smithie6] 09/2/2014 16:11

how to buy Creston shares for 0p !

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if Creston shares are going to go up...
then one way to have exposure to them is via Western selection

NAV of 91-93p (but really 101-103p due to accounting), 58p to buy (reported trades, limit deals) with 52p in Northbridge shares

and 3M shares in Creston

Western has 18M shares.

so, around 3M in Creston, 18 M shares, so 17p per Western share in Creston

with the large discount between NAV and share price for Western....one could argue that the Creston shares are ....

free !

[rivaldo] 09/2/2014 08:16

Good to see t1ps.com now upgrade their stance to Buy from Hold:



"Creston - Interim Management Statement & Stance Upgrade
3 Days ago (2014-02-06 11:39:03)

In an interim management statement for the period 1st October 2013to date, marketing services company Creston (CRE) reported an increase in both revenue and profitability compared to the first two quarters of this financial year and the prior year period. Growth in profitability was driven by a "good improvement" in operating margins, along with a 1% increase in revenue compared to the prior year period. However, like-for-like revenue (which excludes the impact of acquisitions) fell by 1%, although this represents an improvement when compared to the first half of the financial year.

There were several important new business wins during the period including the digital and CRM account for Virgin Trains and the social media account for Unilever's Stork, Bertolli and ice cream brands. There were also some notable synergy wins and referrals as a result of the recent co-location strategy. These included a contract for the Federation of Small Businesses and the British Chambers of Commerce (for market research, PR and digital advertising), and for Canon (market research and digital advertising).

In terms of outlook, the firm said it remains cautious with regard to the ongoing impact of the volatility in some of its clients' marketing budgets but is reassured by the successful pitching for new business in the period. It also pointed to yet another positive recent IPA Bellwether report in terms of increased marketing spend. Management remain comfortable that full-year results will be inline with market expectations.

Assessment & valuation...

The improving performance at Creston is in tune with the latest IPA Bellwether Report, which showed that marketing budgets were revised up for the fifth consecutive quarter in Q4 2013. The report revealed a net balance of +11% of companies registering an increase in budgets during Q4 2013, down slightly on the series record of+12.3% in Q3. The fact that marketing & advertising spend is one of the last areas of economic activity to pick up in a recovery suggests that firms like Creston should do well should the UK economic recovery continue to assert itself. Of course, a fall back in the economy remains one of the key risks to the investment case, as are the loss of major clients and the volatility in marketing budgets.

The shares have rebounded since the disappointing performance at the interims, and at the current 96p Creston is capitalised at just under £58 million. The markets are now looking for pre-tax profits of around £9.4 million for the full year, which implies an earnings multiple of around 8.3 times. The implied yield is 4% given that the firm is now looking to move towards a one-third/two-thirds dividend split. On balance, we believe that Creston remains one of the more solid firms operating within the industry and one of the cheapest in valuation terms. With the trading statement indicating the firm should meet full-year expectations, we move our stance back up to "buy", at 96p."

[madengland] 07/2/2014 19:56

Good luck, I hope this proves a start of a jump for holders. I am also a cynic of BB being the silver bullet but maybe something else is afoot.

[smithie6] 07/2/2014 16:27

new blood ?

eh, the new MD has been there for a few years as 2nd in charge !

Personally I dont expect any changes to how the co. operates

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volume
some around 95p area
7th Jan there was high volume...
and 600k yesterday ....high for Creston....

otherwise not much...

jury still out imo as to whether the 95p buyers will be looking to sell and take profit
or buy more at higher price

[rivaldo] 07/2/2014 16:17

Indeed Harry - the large volumes over the last week or so indicate that although the Havas news yesterday is encouraging, the rise is for the most part due to (a) the positive trading statement and possibly (b) the retirement of DE and the "new blood" taking the company forward.

[smithie6] 07/2/2014 16:07

...well, miniscule volume today....

so imo today's move up is just a few PIs buying a few after seeing the Havas news item....

[harry the haddock] 07/2/2014 16:05

Thanks riv - have been in cre for a couple of years now. just thought it was interesting, and maybe significant, that someone might be building up a stake immediately after Don has 'left the building'

[smithie6] 07/2/2014 16:05

bloom'in eck....

after what I had thought was a dull recent news for Creston...the share price is going up for last few days...

ah
Havas
"we are focused on buying some expertise," particularly by acquiring companies specializing in data analytics and solutions, the executive said."

perhaps that is the reason

well done Riv. for the info supply...

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I havent been impressed by Creston's past years of history or pay levels of the departed MD (or the amount he took out of Creston (over 6M pnds 'renumeration') as a % of what shareholders put in, too high % imo)

but
on the plus side for Don.....he made the right decision to put a lot of effort in to being involved in the digital sector...and Creston has done well there ...

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although perhaps Creston share price will just oscillate up and down ...sideways ...as it has in the past...80-120p

[rivaldo] 07/2/2014 15:53

Harry, CRE is certainly extremely cheap on fundamentals imho - with a good dividend yield to boot.

The recent trading update showed positive noises all round, particularly the certainty regarding meeting market forecasts.

However, I also just noticed this article from just yesterday confirming that Havas are looking at making a number of acquisitions. Havas of course already own 6% of CRE.

The most relevant part is the focus on data analytics, which points particularly to CRE's digital expertise and research ability:



Extracts:

"These opportunities include organic expansion and acquisitions in emerging Asian and South American economies, as well as in Havas's mainstay European and U.S. markets"

"In Europe and the U.S., which together contribute more than 80% of revenues but where growth prospects are weaker, "we are focused on buying some expertise," particularly by acquiring companies specializing in data analytics and solutions, the executive said."

[harry the haddock] 07/2/2014 14:47

Any thoughts as to what's going on Rivaldo?

[rivaldo] 07/2/2014 13:55

Good to see three small buys causing a 1.5p rise (unless there are more large buys still to be reported).

[rivaldo] 06/2/2014 14:32

Another 275,000 at 99.3p just reported - could be another 275k buy from earlier causing the price rise, or could be a cross with the prior 275k at 99p.

Either way there's some intriguing trading going on at present.

[madengland] 06/2/2014 12:31

Looks like a good run for cre holders could be on way Riv

[rivaldo] 06/2/2014 12:26

..and a 275,000 share buy at 99p has just caused a further share price rise.

[rivaldo] 06/2/2014 08:20

A further 100,000 buy at 98.5p - 0.5p above the 98p offer price - just reported late this morning from yesterday.

Interesting, following the 250,000 buy similarly reported late yesterday.

[smithie6] 05/2/2014 17:35

hxxp://www.firsthourtrading.com/

'...just need to place one or two trades per day....from their suggested list sent in the morning...to make sizzling gains..'.

wow, couldnt be easier to get rich.....so, I've sent my order off...
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yeah right !

[smithie6] 05/2/2014 17:24

"Like-for-like(3) revenue declined by 1% during the Period against the equivalent period in the prior year."

electric ! ;-)

[rivaldo] 05/2/2014 08:04

A 276,839 share buy at 98p just reported late from yesterday...the MMs certainly tried to keep that one under the radar :o)) Hopefully accumulating stock for someone.

[rivaldo] 04/2/2014 07:31

Singer's say Buy with a 119p target:



"Creston plc Receives Buy Rating from N+1 Singer (CRE)

Posted by Nolan Pearson on Feb 3rd, 2014 // No Comments

Creston plc (LON:CRE)'s stock had its "buy" rating reiterated by stock analysts at N+1 Singer in a report issued on Monday, American Banking & Market News reports. They currently have a GBX 119 ($1.96) price target on the stock. N+1 Singer's price objective indicates a potential upside of 26.26% from the company's current price....

...A number of other analysts have also recently weighed in on CRE. Analysts at Nplus1 Brewin upgraded shares of Creston plc to a "buy" rating in a research note to investors on Friday, January 10th. They now have a GBX 119 ($1.96) price target on the stock. Separately, analysts at Liberum Capital reiterated a "buy" rating on shares of Creston plc in a research note to investors on Friday, January 10th. They now have a GBX 125 ($2.05) price target on the stock. Finally, analysts at Liberum Capital reiterated a "buy" rating on shares of Creston plc in a research note to investors on Tuesday, December 3rd. They now have a GBX 125 ($2.05) price target on the stock."

[madengland] 03/2/2014 19:18

Successful business do not reassure themselves on mediocre results by grasping at straws in the way this flim flam does. Couple it with the stuff about the colocation has really created synergy and it is the usual tripe. Riv is BB a new broom or a triggers broom?Blah blah blah from Don Ego jnr.....Like-for-like(3) revenue declined by 1% during the Period against the equivalent period in the prior year. This is an improvement when compared to the first half of the financial year, and was helped by the new business wins in the Period together with those in the first half of the financial year.We remain cautious with regard to the ongoing impact of the volatility in some of our clients' marketing budgets but are reassured by the successful pitching for new business in the Period and by the outlook captured in yet another positive recent IPA Bellwether report in terms of increased marketing spend. Revenue and Headline PBIT growth against the Period is expected in the last quarter. The Board is comfortable that the full year results will be in line with market expectations.

[markie7] 03/2/2014 16:51

It is paid for research. So, is by definition not any more or less independent that it ever has been. It is basically the voice of the company to the market.

[kemche] 03/2/2014 13:55

Riv, Re 2) I'll get my coat!

[rivaldo] 03/2/2014 13:51

:o))

As regards (1), the new CEO has the chance to put things right and establish his credibility by starting to deliver. This RNS appears to show that CRE are on the right track.

As regards (2), Edison are striking me as more and more professional and independent over time. Their negative turnaround on SID turned out to be spot on, and I have seen a number of other such negative or "balanced" reviews from them. IMO it's highly superficial to make such gross generalisations.