Electronic Data Processing Share Discussion Threads

[feedthegoat] 10/2/2005 14:47

At last shares heading to £1.Might try and get to AGM this year(not been for 3).
Need to ask when the next step to be taken ie.actually revalue the portfolio and reflect it in the b/s.

[adam] 07/2/2005 19:08

would suggest it has doubled or more as valued in 1988 and full taper relief. Hence cash + fixed = m/cap with business for free. Subsequent to special dividend and ordinary dividend should out some value.

[the shuffle man] 07/2/2005 16:52

I joined in last week. The company seems to be doing well and I am looking forward to receiving the special dividend.

Interesting part is the freehold properties they have on the balance sheet at cost which are probably worth substantially more.

[feedthegoat] 07/2/2005 15:01

has now..should have bt some instead of talking to myself on here.

[feedthegoat] 03/2/2005 14:57

unusual volume over last couple of weeks,mostly buying yet the price hasn't moved.

[wilshaw] 09/12/2004 10:29

Its good that the company is returning some funds to the shareholders at last by the way of a special dividend. Don't forget however that the business is still in decline. New products are always being developed but do not have much effect on the T/O and profit. A safe share, but only because of the balance sheet not because of the business. Remember Hellar and Jowitt own over 20% of the company and they benifit enormously from the special dividend.DYOR

[hugepants] 07/12/2004 12:48

According to 2003 annual report the freehold property has book value of 9.2M. This comprises:

3.2M at 1988 valuation.
6M at cost.

The company made a couple of acquisitions in 2000 and 2001 which included property worth 2M. So that comes out the 6M. I dont know about the other 4M. Property in 2000/2001 has gone up by 30-40% in value according to a table I found on the Internet. Lets say 30%

As regards the 3.2M valued in 1988 well this could easily have tripled if this graph is to be believed.


There is a photo of the Sheffield headquarters here and it looks very salubrious.


Off the top of my head then, the 1988 property is now worth 9M and the remainder (6M) worth at least 8M. So thats an 8M uplift, 17M in total. Capital gains tax (40%?) will knock 3.2M off that. So property valued at around 14M net of tax?

[hugepants] 07/12/2004 11:37

Any ideas as to the value of the property portfolio? I dont have the AR handy but they purchased one property in 2001 at approx 1M and another in 2001 at approx 9M. Does that mean the remaining 7M worth of property was last valued in 1988? (as indicated in the results)

[feedthegoat] 07/12/2004 09:22

This is a very interesting development.As i said many posts ago Jowitt told me once that the property portfolio was signif. undervalued.This is the first time they have declared this publicly although dont think they have quantified it.Also special dividend.Definitely a shift in thinking behind the scenes.

[pommey1] 11/10/2004 09:06

I can't see any real reason for this rise, welcome though it is. Some stroing buys last week. I hope that this is not going to burn out before results. Anybody any ideas?

[feedthegoat] 30/9/2004 17:20

Pommey believe me i'm as irratated as you about this co. and you are correct in everything you say.I am looking from an assetbacking angle as security for my investment.Jowitt said once that the freehold/cash alone is worth more than the co mv.I rang Wassel immediately he sold those shares,"it's a small sum which suited my situation at the time"...so read in that what you will.Having met him he is a youngish accountant not getting paid big sums of money.Jowett+Heller have other priv.interests in the city so this co is set up more as a safe investment for their cash as well.If they ever do manage to produce something then i expect big gains but it may never happen.Good luck.

[pommey1] 29/9/2004 14:21

Feedthegoat

You are very protective of this organisation. I think that you just might be closer to it than you let on. Twice a year I hear about new product development, hugh expense on R&D but never any real news about new product sales. Or at least, no evidence to suggest that these new products are having an impact on T/O and profit.

After many acquisitions there seems to be no real growth. It is documented in the annual results about lost court cases or cases one but costs not been awarded.

There is never any news between results, other than MD and Chairman no other directors have bought shares recently. Infact in the last two years both Jowitt and Wassal have sold some.

That is what I wanted to speak with them about. Will shareholders ever get a return on their investment? Just breaking even would be nice. Indeed it was u who suggested that I try and speak with them.

DYOR Just my opinion of course

[feedthegoat] 28/9/2004 14:55

what did you want to ask them specifically?

[pommey1] 28/9/2004 14:27

Tried to call both Jowitt and Wassell FD I think. Left Messages and no response. So like normal we will have to wait for results. I suspect same again. +/- 5% on T/O. Lots of new products in development, slightly increased Div and R=D spend c2mill.Share has been more steady of late but starting to drop again.

[call-logger] 25/8/2004 19:51

I've got a pretty similar attitude to this share though it has to reach 92p before I cash.

I hope that this latest rise is based on either revenue figures or corporate action rather than just news of a new product. I wasn't convinced by the rise due to the announcement of the XML stuff a while back but, hey, if it's translated into sales I'm happy to be proved wrong.

This company reminds me of where I work in that its first consideration is survival and maintaining dividends rather than growth - in my company's case that means that even if it has a wonderproduct then not enough clout is put behind it because that risks too much expenditure.

Hope to be proved wrong - and it has been the best share for dividends I own

[nick rubens] 25/8/2004 16:07

This company is very asset Rich as you know , could attract a real good asset stripper .... I own these , but it does spend most of its time 'Undervalued ' though ... meanwhile collect a useful safe dividend .... That day will come for the 'takeover' !! I reckon its properties will get a good re evaluation upwards in future , which might attract interest ... Good Hold , although I'd sell on anymore strong quick rises at past the 85p mark unless theres 'justifiable news for it' , hoping to but back lower again .....

[feedthegoat] 23/8/2004 18:31

up again large trades

[brightness] 11/8/2004 15:57

Hi toedipper - can you recommend anyone else for merchant systems?

[toedipper05] 06/8/2004 09:18

Was in a plumbing wholesaler in the northwest the other day who use's EDP MErchant. I know the owner and he let me look at the system. Boy does it look old and ancient. Supposedly based on techonology around from the 60's. Was totally un user friendly in places. He said he is thinking of installing another package.

When is this company going to move with the times? If they are serious about Merchant then they would need to put at least a nice front end on their apps instead of dinosuar character based apps.

[feedthegoat] 29/6/2004 16:58

cant see either happening.Firstly the managers ie.jowitt/heller own about a third of the stock and they dont seem the buyout type.If you're that wound up why not write/phone or email Jowitt or even the fd Wassal to see whats goin on.
Then let us know.

[pommey1] 28/6/2004 08:55

Nobody thats why the share price continues to slide. I did here that they were trying to develope a windows version. Maybe too late. For those of us who hold at high stock value, we can only hope for a change of management or buy out. DYOR

[toedipper03] 22/6/2004 13:55

this share and company sucks

who wants to invest in a company that bases it products around a legacy software platform that dates from the 60's?

[pommey1] 24/5/2004 18:29

As I suspected. Results as exepected. No real impact on share price. For holders at higher value, either cut losses or hope for management change.

With no more news for 6 months and a warning of tough trading conditions, this may slide further! IMO DYOR