Debts.Co.Uk Share Discussion Threads

[masurenguy] 09/10/2007 07:45

Key comments from the CEO statement.

"The Group's insolvency subsidiaries, Neville Eckley and Synergi Partners, which
both deal primarily with IVAs, have both performed well. They saw good growth in
this area in the early half of the year, slowing down to a steady state in the
second half. The quality of proposals continued to improve as has the number of
acceptances and hence cases that continue into supervision........The acquisition of Adie Financial Solutions Limited ('AFS'), a provider of Trust Deeds and Sequestrations,which we announced on 25 May 2007, has performed well and we expect this to continue. The results to 31 July 2007 include trading from AFS for only 2 months. The Scottish market has been unaffected by all the issues that are currently being headlined within the rest of the UK and Group's fee levels remain steady and the percentage of acceptances of proposals high. The Group's debt management subsidiary, Debtcare, has had a good growth rate over the year and continues to be profitable.

Since the year end the Group has continued to make progress despite the
difficult market conditions. It has remained profitable but it would be rash to
make any predictions for the outcome of the current year. We are confident and
believe that this Group has a profitable future ahead of it. The challenges ahead continue to be those we have addressed already: to improve the efficiency and profitability of the Group's operations. The Group has already begun a managed process of streamlining operations to continue to generate improved profitability. A significant and ongoing review of costs and efficiencies, including a number of potential redundancies, has commenced. The reduction in marketing that started in the second half of the year led to fewer IVA proposals in the early part of the new year. More recently close monitoring of our marketing spend has enabled an increase the number of IVA and Trust Deed proposals and cases entering into debt management. There is also an increasing number of proposals being accepted. Finally, the market continuously changes and one of the keys to long-term success is one's willingness and ability to adapt to the changing circumstances. This is nothing new to the Group or its management. We have one of the most experienced teams in the industry. Market turmoil may cause pain for some but it also presents opportunities and we are well placed to take advantage of these".

[twentyoneeleven] 09/10/2007 07:15

Debts.co.uk PLC
09 October 2007

Debts.co.uk plc (or the Group)

Preliminary Results for the year to 31 July 2007

Debts.co.uk plc is a leading provider of a range of solutions, including IVAs,
debt management programmes, bankruptcy and secured loans or second mortgages, to
over-indebted individuals.

HIGHLIGHTS

• Turnover up 90.2% to £11.6m (Proforma 2006: £6.1m)

• Gross profit up 95.8% to £9.4m (Proforma 2006: £4.8m)

• Reported pre-tax profit up 61.9% to £3.4m (Proforma 2006: £2.1m)

• Earnings per share up 51.2% to 13.05p (Proforma 2006: 8.63p)

• Acquisition of Adie Financial Solutions Limited provides entry into the
Scottish Trust Deed market place which has been largely unaffected by the
recent changes in the IVA market

• Move to new 30,000 sq ft offices in Chesterfield was competed in December
2006

[masurenguy] 08/10/2007 18:18

Intrigued to see tomorrows results, particularly the comments on this years trading conditions to date and their broader expectations for the current financial year !

[diogenesj] 05/10/2007 16:34

It's the fat lady that counts, nurdin, and she's a soprano (of any colour).

[nurdin] 05/10/2007 16:08

Its what they say bout the IVA market which is going to be critical and the noises coming from industry dont encourage.I am on the sideline until I see the colour of their tenor

[masurenguy] 05/10/2007 12:27

Well Tuesdays results should prove to be seminal for DETS in the current climate !

[vapourtrail] 05/10/2007 12:10

Big fall today for dfd, debt is looking ripe for a takeover (or the bin), maybe now is the time for some consolidation. Dets may be well placed to take on an existing client base. Personal debt is not simply going to dissapear, if anything the situation for many will deteriorate.

[aatw5295] 03/10/2007 19:22

7kiwi,
Little news is not unusual with debts, its been a constant complaint from many holders,however on this occassion i agree with 'Masurenguy' results are so close there is little point.

Then again there probably busy looking out for Iceburgs?

The chart speaks for itself, its been hard to see a way forward for some time and now only the brave would even short, let alone buy.

50p would appear a better bet than 70p

IMHO
a

[buetowa] 03/10/2007 17:26

I'm surprised by the extent of the further drop today and bought my second similar size tranche following on from my first buys on 1st Oct. Now hold 15k.

This seems completely oversold given that the recent trading update on the 1st August stated:
- that trading for the year ended 31 July 2007 has been in line with both the Board's and analysts' expectations;
- trading for the period has been strong in all areas and despite the pressures on the IVA market;
- the Board believe that all the recent developments are positive in reaching a position with lenders and other stakeholders which ensure that the best interests of the individual client are served in all cases, which is the major ethos of the Group.

I will be interested to see their forward looking statement given the industry wide reduction in what can be charged for the IVA service, only part of their overall activities.

Time will tell if it was a good purchase and if they pay a dividend that will be an added bonus.

[masurenguy] 03/10/2007 17:18

Results due on Tuesday. I doubt that there will be any company comment before then.

[7kiwi] 03/10/2007 17:16

If there is nothing wrong isn't it time for a "We know of no reason for the recent share price fall..." sort of statement? Silence is a bit of a worry and is stopping me swooping in with a buy.

[dasv] 03/10/2007 16:58

The chart looks absolutely awful. I've signicantly reduced my holding. Only got £680 on this horse now. I put the money into SGM instead.

[vapourtrail] 03/10/2007 16:14

This is looking like it's in freefall. Sooner or later there has to be consolidation in this sector. Let's hope dets comes out the other side of this.

[dasv] 01/10/2007 09:29

16000 buys 27254 sells so far.

[currypasty] 01/10/2007 08:25

Shares in Debts.co.uk were dragged down 29-1/2 to 66-1/2 in sympathy, but
Seymour Pierce retained its 'buy' recommendation on the stock. The broker
believes the company structure and management will prove quite capable of
operating profitably in the new environment, although it is hoping there is some
resolution on fee levels sooner rather than later.

[tipsytoad] 01/10/2007 08:15

financial sector looking more and more like the dot com boom

[masurenguy] 01/10/2007 08:11

Why has this been marked down nearly 31% this morning ?
Haven't seen any news released or any collateral event which has prompted this !

[mrphil] 01/10/2007 08:09

Update from DEBT pulling the sector down.

[currypasty] 01/10/2007 08:05

not looking too good this morning

[dasv] 24/9/2007 12:47

NRK debacle is helping highlight UK debt crisis.

[jtcod] 13/9/2007 13:15

It's a far more sophisticated and diversified vehicle than just an IVA business vt.

Scotland was an excellent move imo, as was the insolvency practitioners development.

I think the cash pile will also allow them to go into another debt area that perhaps those without cash cannot. Seymour pierce forecast 18.7p for this year. Net of my estimated cash pile of £3m, that would put the PE on 4.5.

[vapourtrail] 13/9/2007 12:57

You are, of course, right JT. DETS seems better placed to weather the current storm than either DFD or DEBT, but time will tell.

[jtcod] 13/9/2007 10:10

It's all been positive news. Unfortunately we have a very thin market and some investors are just scared of their own shadow. I don't see what more the management can do really.

Most investors are like sheep. When it moves the other way they will buy rather than be the first one in.;-

[vapourtrail] 12/9/2007 22:16

What is going on with this? This looks like it's in free fall. Sooner or later we have to get some positive news on this company.