Share Name Share Symbol Market Type Share ISIN Share Description
Dillistone Group LSE:DSG London Ordinary Share GB00B13QQB40 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +6.50p +7.51% 93.00p 90.00p 96.00p 93.00p 84.50p 86.50p 19,335 15:28:28
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 10.0 0.4 2.7 34.7 18.29

Dillistone Share Discussion Threads

Showing 51 to 73 of 225 messages
Chat Pages: 9  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
09/7/2013
20:46
Dillistone Group - acquisition http://bit.ly/12jM726
phoenix1234
05/6/2013
11:34
Listen to Dillistone Group - AGM Trading Statement http://www.brrmedia.co.uk/event/112322/jason-starr-chief-executive-officer
sammy_smith
05/6/2013
07:56
Positive AGM statement. Both Filifinder and Infinity showing improving sales orders over prior year.
valhamos
29/4/2013
15:50
Val Yep i'm aware of that, it doesn't stop them manipulating it though. As i said it looks a very sound business. I'll have a deeper look but my feelings on biannual capitalised development upgrades needs further consideration, i'm not so sure i'm a buyer at the current share price using that criteria. Each to his own as they say. WC
woodcutter
29/4/2013
13:25
Woodcutter "For me it's about making that judgement." That's fine and we all need to do that. But you do realise that we are only talking about capitalisation for new or enhanced products? Dillistone has to comply with the relevant accounting standard which does not allow capitalisation without demonstrating that future economic benefits will be generated. Extract from DSG's accounting policy: "Costs incurred on product development relating to the design and development of new or enhanced products are capitalised as intangible assets when it is reasonably certain that the development will provide economic benefits, considering its commercial and technological feasibility and the resources available for the completion and marketing of the development, and where the costs can be measured reliably."
valhamos
29/4/2013
11:59
Val The subject of capitalised development for software companies always attracts debate and i always consider carefully the eps figures. As a general point it can be very misleading if a company delivers good eps figures but no cash. There is no right or wrong answer on capitalising software cost imv. You have to view the figures and make your own judgement. My own rules for capitalising software costs are if the development is ongoing year on year then i expect to see them written off to the P&L. If the product is developed and sold into the market with little further attention then i have no issues with capitalising the asset. Perhaps i need to have a closer look at the DSG product. In reality it is often a mix of both whereby some of the software cost should be capitalised and some written off. For example you develop the product and that's capitalised. You install it into the clients business making minor modifications and training him for his particular use so you write that off. For me it's about making that judgement. As i said there's no right or wrong answer. As an example i recently bought LRM whereby much of the software has been capitalised and it's delivering eps with little cash. However i believe completion of the companies suite of products is now finished and cash generation is imminent, the product will sell driven by legislation. So whilst this might seem at odds with my post 62 above it serves to demonstrate my flexibilty on this issue. I guess i take a view on the company and decide how i feel about write off verses capitalisation. Hope this helps to understand my thinking. Woody
woodcutter
29/4/2013
08:01
Woodcutter Why are you trying to work out an eps with software development costs written off instead of capitalised? How do you work out return on investment if you have deducted investment from your return? Do you do the same for fixed asset investment in a manufacturing company? A major item of plant might require a major overhaul every few years - maybe uprated features and electronics are added. The cost of such an overhaul would be capitalised and amortised over the period to the next overhaul. It's the same principle with a software products. Every few years a new version is required. The software is enhanced and maybe new modules are added. An economic benefit is created that goes beyond the current financial period.
valhamos
28/4/2013
21:53
this came up on my search criteria filter over the weekend so i decided to take a closer look. Have to agree with general comments from other contributors. However, it's interesting that £803K was capitalised over the year for software development etc. If this had been written off to the P&L rather than capitalised and amortised over it's life then the eps would have been just under 4p (3.8p) so i figure it's probably reasonable value with the divi thrown in. Always difficult with software companies evaluating the eps and the capitalised software R&D costs. I like the business it seesm to be very solid and the chart pattern is beginning to show some positive indicators (not yet confirmed imv) so i'll leave for now but it's on my watch list. Woody
woodcutter
24/4/2013
14:16
A lot of good comments. Sammy - thanks for the link Adam - YoY revenue growth rates can be difficult to track/predict. This is because historically DSG has released a new version of FileFinder every other year. The latest release FileFinder10 was a major re-write and was launched in March 2011 which explains the 12% revenue growth in that year. (In this regard the comment in the announcement today that Q1 2013 was the best in terms of order intake since Q2 2011 is interesting). I don't know if there will be a new release this year, clearly the major focus is on Voyager which has the greater growth propects. As Voyager orders in Q1 2013 is ahead of Q1 last year and the benefit of the new release in September has only just started to come through, I would be looking for a decent increase in turnover for FY13. Also worth bearing in mind, in terms of downside protectio, the significant proportion of recurring revenue.
valhamos
24/4/2013
13:10
Just having a look at these for the first time. At first glance it looks like your getting a fast growing business for not much more than 10x historic however if you strip out the acquisition which took place in H2 FY11 then organic revenue growth was 12% in Fy11 and -2% in FY12 What are poster's expectations for turnover in FY13? Thanks
adamb1978
24/4/2013
08:56
Final results interview with Jason Starr, Group Chief Executive & Julie Pomeroy, Finance Director, Dillistone Group. Click the link to listen. http://www.brrmedia.co.uk/event/111423/jason-starr-group-chief-executive--julie-pomeroy-finance-director
sammy_smith
24/4/2013
08:22
I have to acknowledge, too, cfro: it looks quite a nice buying point on the chart. Good luck holders.
saucepan
24/4/2013
08:18
Think thats a fair enough POV saucy. Nice medium term hold describes DSG right imo. This company's got a wonderfull earnings track record and does come through the zulu criteria.
cfro
24/4/2013
08:14
I did look at results today. "Solid" seems a fair assessment - but not enough to tempt me back in, when I think there are better opportunities elsewhere.
saucepan
24/4/2013
08:04
"Yes, ahead but but not by 10% - possibly 6.8 eps? " - #53 Post exceptionals eps comes in at 6.79p so in line with my understanding of the last update. DSG is a solid zulu with a good dividend yield; with the Voyager acquisition making a valuable contribution to the results. A long-term hold for me.
valhamos
14/3/2013
14:53
saucepan got his timing right. Now down to 76p and looking cheap. holding but topping up- awaiting results in late April.
puku
07/2/2013
23:00
Yes, ahead but but not by 10% - possibly 6.8 eps? (2jamdog, why "trying unsuccessfully to say"? You got it and I'm sure others did as well) After a great run had to be really special to avoid the impulse to "sell on news", though volume today no more than the recent averaqe. Encouraging about prospects for 2013 with a "strong start" and client orders "well up" on 2012. The existing current year forecast of 7.65p gives a P/E of 11.2 and a PEG of 0.7 so I happy to sit tight. As regards the comment on dividends, last year the update merely said that "The board of Dillistone intends to maintain its current dividend policy". Perhaps the use of the word "progressive" is giving a hint that the dividend after being 3.5p for a number of years will increase to more than the forecast 3.6p?
valhamos
07/2/2013
11:42
It's a stupid announcement. It's either in line, or ahead What they are trying unsuccessfully to say is that it's ahead but by Less than 10% Also the part about progressive dividend growth omits The usual phrase "in line with earnings". Whoever advised Them on the statement needs to think more clearly About reaction to what's not there
2jamdog
07/2/2013
10:42
I am out today. I had hoped for more than "in line", with Voyager software just taking off.
saucepan
30/1/2013
13:16
Another little nudge up today.
hastings
29/1/2013
15:34
@equity_research: DSG.L impressive presentation at investor do by CEO Jason Starr. Co looking for more acquisitions...meanwhile 4 per cent yield.
cambium
29/1/2013
07:20
Yes, looking good. 2012 projected P/E only 9.6 and PEG 0.5, so plenty of value still on offer it would seem.
saucepan
10/1/2013
15:01
Directors Sale & Purchase announced today. Rather scuppers the idea that there will be a trading update in January, or they would have waited/been barred from trading while they had unpublished price sensitive information.
2jamdog
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