Direct Line Insurance Share Discussion Threads

[pomp circumstance] 31/8/2005 08:27

Seymour Pierce on 7 june were saying...

2005 Dec year end

Sales 10.5m
Op Prof 1.5m
pre tax prof 1.45m
EPS 2.0
P/e 10

2006 Dec year end

Sales 15.5m
Op Prof 2.5m
pre tax prof 2.5m
EPS 2.7
P/e 7.4

[james t kirk] 30/8/2005 19:11

Thanks Glasshalfull, I've e-mailed them a couple of times too and always had a pleasant response, very good investor PR.

This is a company that just hasn't been noticed, but the next results should make a difference as they should show the transformation to a profitable business.

[glasshalfull] 30/8/2005 17:29

Hi JTK

Just to let you know I'm still here.
Couldn't resist picking up a few more last week.

I also contacted the company last week in an attempt to clarify a few aspects of the 2004 figures and to acertain why the "late" release of these figures, also why are the interims only going to be released at the end of September?

Aksel Bratvedt informed me that the figures will be released more timeously next year and that the delay this year were down to the fact that they operate a number of companies in 3 different countries and also due to the fact that the group was only established late last year (much as I expected).
The Finance Director took up his position at the beginning of June this year and obviously requires to get up to speed.

He also agreed that the web site should be updated ..... certainly annoys me every time I go into view it.


It was very apparent that the directors welcome contact from shareholders at any time, should anybody else be interested in talking to them.


Overall, I remain extremely bullish.



Regards

Glasshalfull

[james t kirk] 30/8/2005 16:33

Well several small buys over the last few days have eventually seen the bid being raised today. I think there's still a bit of an overhang but this could start to plod back to 25p if they keep the spread tight.

[rivaldo] 23/8/2005 12:26

Here's that RNS James :o))



Basically a Board reshuffle with a new Swdish non-exec. More important are the Chairman's comments which are very positive:

"'At a time when the company is experiencing considerable change and accelerating growth, I believe this re-shaping and strengthening will leave us well placed to capitalise on the changes in our markets where our strong ambition is to be the driving force .

'I know that we have a Board and staff that is sufficiently talented and
ambitious to achieve our goals. Furthermore, I strongly believe that our
organisation has the necessary understanding of the challenges ahead for the
successful combination of growth and the task of building a coherent business,
to create the necessary value for our customers and shareholders.'"

[james t kirk] 19/8/2005 11:44

They must be awash with stock, one sell knocks the price when several similar buys have no affect. Next RNS could make this fly..

[james t kirk] 17/8/2005 14:08

This price is just silly, had to add at 19.25p - long term bargain!!

[glasshalfull] 15/8/2005 09:23

Hi

I received the monthly update this morning form Growth Equities & Company Research whith their stance on Delling remaining BUY.

The wording of the research is more bullish than I can remember, indications for results in September:- "...everything is on track to, AT LEAST, meet current market expectations."

Full article below.


Regards

Glasshalfull

EDIT:- Rivaldo beat me to the full posting....article edited out.
--------------------------------------------------------------------------------

[rivaldo] 15/8/2005 09:17

Growth Equities have just e-mailed out their July monthly view, including this:

"Delling Group

We initiated coverage of AIM listed Delling at 23.5p in April and though the shares have slipped back to 19.25p the company has actually beaten both our forecasts and also those of its house broker (Seymour Pierce) and at a trading level it continues to prosper. Scandinavian based and with a Scandinavian management team, Delling was established (as Depicta) in 1998 but changed its name to Delling and embarked on its current strategy of aggressive bolt-on acquisitions to complement its strong organic growth in March 2004. It listed on AIM in the Autumn of that year.

Delling is a market support services company - it provides out sourced services to the marketing department "back offices" of companies predominantly operating in Scandinavia. It is a pioneer in the application of the latest IT technology in the creation and efficient management of new and developing marketing channels. It has an impressive client list of over 300 companies including such giants as Statoil, Norsk Hydro and SAS. It has used AIM wisely, raising 2.2 million pounds and making three, largely paper funded bolt-on acquisitions.

The financials for calendar 2004 were pretty irrelevant since they largely related to stockmarket pre-history. But for what it is worth, sales of 2.2 million pounds were head of forecasts and the loss of 2.5 million was in line. What that pre-tax loss masks is that the company actually made a gross profit of 1.37 million pounds implying that it does not need that dramatic a ramp-up in sales to cover the high central overhead and take the company into profitability. All the indications are that Delling (which still has net cash of almost three quarters of a million pounds) is already delivering on that potential. The company served up an upbeat and confident AGM statement on July 15th in which it talked of winning more contracts in Scandinavia and in Eastern Europe with "respected companies." Interim results at the end of September should confirm that everything is on track to, at least, meet current market expectations.

We estimate that in the current year sales will race ahead to 10.5 million pounds which should translate into a pre-tax profit of 1.45 million pounds and earnings per share of 2p. In 2006 sales should hit 15.5 million pounds, pre-tax profits should increase to 2.5 million pounds and - despite a rising tax charge - earnings should hit 2.7p. At the current share price Delling trades on 9.6 times 2005 earnings falling to just 7 times 2006 earnings which for a growth stock with net cash is too low a rating. Our stance remains "buy.""

[james t kirk] 12/8/2005 19:56

pH1Ts, it's probably one to hold if you can. Any news will see this marked up 15% and the MM's will make you pay full offer on what's a big spread. At the moment you can buy near mid-price, so the difference between buying now and after a good RNS may be considerable.

Having said that I only hold a few currently as there's other shares I'm holding which I see as a better short term future. When funds are available I'll be adding here, but I may miss the boat.

[ph1ts] 12/8/2005 19:39

I couldn't agree more JT! Thing is, is it one to hold or to monitor ready to pounce?

[james t kirk] 12/8/2005 19:09

It's just a matter of time before this hits 30p It's an unloved, but fundamentally cheap share. I've got another couple in portfolio AP. and PGB.

Strange how some utter rubbish gets silly values but companies who achieve exactly what they set out to do, are ignored and bob around at very low share prices. Look what happened when this was tipped, a speedy rise, then boredom and they sell and we're back to square one.

You want to be holding when next results are out, that's for sure..

[glasshalfull] 12/8/2005 05:47

Hi

I've posted a lengthy summary of Delling as an investment idea over at TMF





Following further extensive research I remain convinced that Delling offers fantastic value at the current price.

Lets hope the market agrees (at some point anyway !)



Regards

Glasshalfull

[ph1ts] 11/8/2005 11:55

I am really surprised this is still so low. Any further drop will get me reaching for the cheque book. Any contract/ earnings news will send it skyward IMHO.

[sheik yerbouti] 29/7/2005 11:47

Perhaps that's why it has gone so quiet on here! Needs news or another tip.

[ph1ts] 29/7/2005 11:12

Have you heard about the new dance the MM's are learning, it's called the T10 shuffle. Basically you wait for a tip and then see how many T10 gamblers you can screw!

[ph1ts] 27/7/2005 10:06

This is a bit old, but it breaks the deafening silence here.

[scotty1] 16/7/2005 12:52

Rivaldo must admit didn,t think I,d given that much away either, I know
the likes of subscription sites have stamped down a lot just of late.
Anyway as I said before I don,t own any shares in DLG so I,ll leave
you lot to it good luck and probably catch you on some other thread :-)

[rivaldo] 16/7/2005 09:44

Scotty1, I for one want to thank you for letting DLG holders know why there was suddenly an upsurge of activity. I've never known ADVFN to react like this before - you didn't give anything away at all. Seems like overkill to me (unless the tip site asked them to act?).

A mention in the Grauniad today:


"Shares in marketing support services group Delling added 0.25p to 21p as chairman David Krucik told shareholders at its annual meeting that the company, which listed last October, "is set for continued growth". "

[silverfern] 16/7/2005 09:29

Yes Scotty I really am think aren't I? Thanks for explainng your reasoning to me so articuately at the time

[scotty1] 16/7/2005 07:53

And that silverfern is why I was trying to be careful how I worded my
post, comprehend now !!!!!!!!!!!! doh

[ph1ts] 15/7/2005 17:22

scotty confirmed your guess was right, that's when they removed them all