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
  +0.00p +0.00% 51.00p 50.00p 52.00p 51.00p 51.00p 51.00p 1,024 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 9.6 -0.5 -0.4 - 10.03

Dillistone Share Discussion Threads

Showing 76 to 99 of 275 messages
Chat Pages: 11  10  9  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
26/9/2013
10:40
Everyone can have their own way of dealing with the numbers, which is fine. The problem is he doesn't just do this, rather he implies that these software companies are misleading investors (profits are 'inflated' etc). He's saying the numbers are wrong or are suspicious (a red flag comes out at this point). That's quite a serious charge for him to make. Also does he have a go at pharmaceutical companies or media companies that put a load of intangibles on the balance sheet, or is it just software companies - in other words, is he being consistent?
valhamos
26/9/2013
10:19
I have sympathy for people applying their own rules to establish their value for a business. I doubt any successful entrepreneurs spreadsheet reflect IAS but does give them the information they value to run their business. More than one way to skin a cat / value a company. Just saying.. :-)
zoolook
26/9/2013
10:12
Sorry it's over your head. I guess that's the problem with Paul Scott making the comments he does - the average punter accepts what he says because he knows no better. But Paul Scott keeps repeating this mistake (this is the third software company I hold in recent weeks where this has happened). He is incorrectly suggesting that companies are being creative in their accounting - profits are "boosted" or the companies are "greatly inflating EBITDA" when they capitalise software development costs. This is disingenuous when they are merely following normal and well accepted accounting practice. Maybe he's a qualified accountant (so am I) but he's been "retired" a number of years - people easily forget things or become out of touch (for instance he refers to goodwill amortisation - something that hasn't happened in accounting for a few years). So no, Paul does not understand software companies - and I wouldn't class IND as a software company (though it does have a small amount of software costs included in intangibles).
valhamos
25/9/2013
22:44
Over my head. He's a Chartered Accountant and former FD and must have his reasons and as a longstanding and major investor in Indigovison he's no stranger to software companies.
zoolook
25/9/2013
21:56
I take issue with Paul Scott's comment: "They do capitalise development spending, £339k in H1, but my my calculations operating profit is stated after a £210k amortisation charge - i.e. profit is only boosted by £129k through capitalising development spend as opposed to expensing it fully as incurred (which is my preferred, more conservative accounting treatment)." Profit is not "boosted by £129k" at all. If Paul wants to pursue his own mickey mouse accounting adjustments that fine, but others should realise he is arguing against international accounting standards. If he prefers a "more conservative accounting treatment" then no doubt he likewise prefers to fully expense expenditure on plant and machinery as incurred - it's the same principle, so why pick out software companies? There's a fundamental accounting concept here that cannot be ignored - costs are matched in the same period as the benefits are received.
valhamos
25/9/2013
20:57
Write up from Paul Scott today: http://www.-.co.uk/content/small-cap-value-report-24-sep-hsp-dsg-tast-dpp-rgs-77517/ He's also bought some today.
zoolook
25/9/2013
17:35
Good day. As an investment whats not to like. Economy is on the up and consequently the recruitment sector's tail is up. Must be a few agencies due for a software upgrade
zoolook
25/9/2013
14:42
A good solid investment this. I like the "strong implementation pipeline" being carried into the second half in both divisions. With both organic and acquisition growth Dillistone is, well .... solid.
skyracer
25/9/2013
11:50
Over 100p with good follow through from yesterday's interim announcement. The emphasis on the earnings enhancing acquisition and its contribution to H2 in the webinar bodes well for expectations for the full year.
valhamos
24/9/2013
09:00
LISTEN: Dillistone Group (DSG) - Interim results 2013 Click the link below http://www.brrmedia.co.uk/event/116440/jason-starr-group-chief-executive--julie-pomeroy-finance-director
sammy_smith
24/9/2013
08:19
There's been a re-rating recently from a P/E of just below 10 to a P/E of 12 reflecting the excellent prospects with this company. With the benefit of the recent acquisition if they merely do in H2 what they did in H2 last year they will achieve 7.9p (before any one-off integration costs), so a with strong pipeline I'm expecting 8p+ eps for the full year.
valhamos
19/9/2013
22:02
Been a while but I was a previous purchaser of Filefinder (1996-2007) and always was impressed with the product. Now I'm on my own I have continued to use an old version unsupported for years and had no problems. Bombproof. My recruitment days are numbered but if I was properly back in the game I wouldn't use anyone else even though I'm sure there are cheaper alternatives.
zoolook
19/9/2013
17:31
Good breakout ahead of those interims.
valhamos
19/9/2013
16:03
Interims out next tuesday.
zoolook
11/9/2013
18:55
Showing a lot of strength leading up to the interims announcement. Historic PEG 0.83 with current forecasts looking a tad conservative and not reflecting the impact of the recent acquisition IMO.
valhamos
22/8/2013
16:55
Dillistone Group - half-year trading update, still decent value? http://bit.ly/1bWSQl6
phoenix1234
10/7/2013
09:13
Good interview on the yesterday's acquisition http://www.brrmedia.co.uk/event/113027/jason-starr-group-chief-executive--julie-pomeroy-finance-director
tentrader
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
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