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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Group Nbt | NBT | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 548.75 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 548.75 |
| Top Posts |
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Posted at 04/12/2011 02:32 by exotic 28/11/2011 07:00 UKREG Cancellation - Group NBT PlcPity really, I had rather enjoyed my time on this thread over the years posting large pictures tormenting Haystack. Bye bye NBT. |
Posted at 23/9/2011 12:22 by lucky_punter NBT takeover throws the spotlight on Top Level Domain HoldingsTLDH has been waiting and preparing intently for a fundamental shake-up of the internet announced earlier this year by ICANN, the industry body in charge of these things. Shares in Top Level Domain Holdings (LON:TLDH) were higher in early trade as internet rival NBT (LON:NBT) revealed it had received a takeover bid from the private equity firm HG Capital. The deal, which values NBT at 153 pence, throws the spotlight on the entire sector, according to broker Daniel Stewart. |
Posted at 20/6/2011 13:16 by serratia Assume this will benefit NBT. |
Posted at 24/9/2010 12:51 by serratia A good set of results so here are a few comments.The market tends to look forward a year and I find it useful to look at share prices on a multiple of the following years cash flow.Profit figures often do not show the whole truth so cash flow works for me.Having said that NBT always have a nice clean set of figures. In 2007 the share price had a high of 10* the 2008 cash flow and a low of 5.9*.In 2008 it was 9.3 and 6.2*.In 2009 it was 9.2 and 5.4*.The market seems to value the company in the range say 9 to 6* cash flow. In order to look forward I have to estimate 2011 cash flow.As a first pass I took the growth rates of the various parts and just extended them to 2011 and came up with £11.25m cash flow.I haven't checked if any cash items drop out next year that's for the fine tuning. On this basis the range for calender year 2010 would be low 262p high 394p.To estimate 2011 range I need 2012 cash flow and of course this is harder as I look that far forward.As the company is growing I looked back at the increase in cash flow in previous years.In 2009/10 it grew 2.2m,in 2010/11 my spread sheet would indicate 1.83m (a bit low ?),my estimate drops down as 2.15m for 2011/12.If I take growth as 2.4m for 2012/13 I get the following. Calender year 2011 high 465p low 300p,2012 high 535p low 355p all based on the 9*.6* ratio.These figures would suggest 15 - 20% growth in the share price each year for the next two years. Of course things can change but the management say sales are still going well and the new domain names should add further volume. I'm happy to hold and would add if it fell back to 300p. Feel happy to comment if I've missed anything. |
Posted at 10/8/2010 08:43 by philanderer Tipped again in the DTelegraph:"Questor share tip: Group NBT remains confident of growth" |
Posted at 25/5/2010 13:26 by exotic RNS Number : 5058M Group NBT PLC 25 May 2010 ? NBT.L Group NBT plc ("Group NBT" or "the Company") Director's Dealings Group NBT was notified yesterday that Keith Young MBE, Non-Executive Director and Deputy Chairman, sold 100,000 ordinary shares of 1 pence each ("Shares") in the Company on 24 May 2010 at a price of 275 pence per Share. Mr Young now has a beneficial holding of 887,432 Shares representing 3.43% of the Company's issued share capital. |
Posted at 11/3/2010 08:00 by shuisky Revs up 13%Underkying EPS up 31% Net Cash now around 11% of market cap 40% hike in the divi Acquisitions bedding in well. Highly cash generative, and all of this is the middle of a recession. These are very strong numbers, but you'd have to pinch yourself to believe it from the commentary! There are a number of cautious comments in it. The management clearly believe in telling it how it is. Will have to dig deeper and look into these numbers closer, but on first glance they look very good. With better economic growth forecast for 2010, I think they will trounce current full year estimates. Rolling underlying diluted EPS is 23.54p which is way ahead of the 21.87p consensus for 2010 full year. Simililarly underlying pre tax is at 4.03m for the first half. Full year consensus is at 7.65m. It is possible that the consensus numbers dont exclude amortisation, but IMHO they should, because the better judge of a company is sustainable cash flow generation. If you normalise the tax rate at 28% you still get 6.22m in FCF generated on a rolling basis, and that represents around 7.6% of the market cap. CF has benefitted from WC improvements due to try to push to collect receivables quicker. I suspect there are some bad debts in there, but they will likely be small customers so hardly likely to be material IMHO. As the economy improves I'd expect sales leads to start to complete and generate revenues as co's become less cautious over purchasing decisions. Managed hosting should get better, although they are saying growth in domain names will slow due to non-repeatable one-off transactions helping put H1. No matter, on balance, I think this is too cheap. |
Posted at 22/11/2009 19:54 by serratia I've been running some analysis following the last set of results.NBT shares have traded between 6 and 10 times the following years cash flow.This has held for the last 4 years.This gave a target price of 292p for the figures published October 30th 2009 ie Oct 08.Peak price for 2008 was 266p so pretty well up with events.To get a figure for this years peak share price I have to estimate cash flow at the results to June 2010.My sales/EPS forward estimates luckily seem to be a mirror image of the broker estimates.Converting all this into share prices comes to 332p which is the present price. On this basis the shares are now fully valued at 10* next years cash flow. Or is there more upside in next years cash generation?Possibly, |
Posted at 24/9/2009 13:57 by dasv Numis Securities is making a small upgrade to its fiscal 2010 full year earnings estimates for Group NBT after the Internet domain name management firm published what the broker termed a strong set of results for fiscal 2009. Numis now reckons Group NBT will make an adjusted pre-tax profit of £7.6m in the year to June 2010, a slight improvement on its previous estimate of £7.5m. The earnings per share (EPS) forecast has been raised to 21.4p from 20.9p, while the broker now anticipates that net cash will rise to £8.8m (previous estimate: £7.3m). 'With a robust business model, strong management team, good cash generation, excellent growth, both historic and prospective, and scope for further acquisitions (although we understand there is nothing imminent) we continue to believe that NBT is undervalued,' Numis said. The broker rates the shares a 'buy' and has lifted its price target from 310p to 330p. FinnCap rates the shares no more than a 'hold', however, in view of the share price's strong run since mid-May which leaves the shares vulnerable to profit taking. |
Posted at 01/1/2008 17:33 by jonwig From UK-Analyst's AIM & PLUS Newsletter via e-mail.(I don't hold, never heard of NBT, just a messenger) Buy Group NBT at 203.5p A tip from The AIM & PLUS Newsletter THE BUSINESS Early in 2005 visitors to the Delyn Conservative Association's official website were surprised to find images of a most unwholesome nature. That is images even more unwholesome than William Hague in a baseball cap or David Cameron pretending to be working class. The organisation forgot to renew its ownership of the site's domain name, which was subsequently bought by another internet user who proceeded to plaster pornographic images all over the site. With many large business having literally thousands of registered domain names in registries around the world it can be hard work for them to keep track of when exactly their ownership is due for renewal and as such, mis-management could cause serious problems, as the Delyn Tories discovered. This is where Group NBT (NBT) comes in. The company was founded back in 1995, under the name netBenefit, in order to provide services involved with the management of domain names, including the registering and renewal of the names, as well as proving hosting services for websites. It has made a number of acquisitions since then and in 2004 changed its name to Group NBT after it acquired the web hosting business Easily.co.uk. After listing on the full list of the LSE in 1999 the company moved down to AIM in 2004. Further companies have been acquired since then and as of today NBT has five internet services related brands which each deal with a different part of the market. The company provides its services to companies across the UK, Europe and the US. The original netBenefit business still exists and continues to provide managed hosting services to customers worldwide. Easily.co.uk and speednames.com provide services for small business with customers typically taking a package which includes a domain name, e-mail services and web hosting. Netnames provides domain name management services and is an icAnn Accredited Registrar with the ability to register domain names in all available suffixes worldwide. Within Netnames the company has a branded "Platinum service" which specifically targets larger companies. Ascio is responsible for the provision of domain name services indirectly through more than 300 partnerships with telecom operators, web hosting companies, internet access providers and IP law firms. Finally, Envisional, provides online brand protection services. NBT currently has over 250 employees around the world with offices in London, Copenhagen, New York, Nice, Munich, Zurich, Oslo and Madrid. it has a range of customers using its services from small to medium sized organisations to multi-nationals. Around a third of companies in the FTSE 100 including Centrica and British Airways currently use NBT. CURRENT TRADING: The last set of results that the company released reported on the year to 30th June 2007. Over the 12 month period revenues were up by an impressive 63% to £22.54 million. While acquisitions accounted for the bulk of the growth the core businesses more than managed to hold their own, with organic growth standing at 19%. Operating profits grew by 50% to £4.07 million over the period with 26% of this coming from organic growth. Pre-tax profits adjusted for amortisation and costs associated with restructuring acquisitions grew by 33% to £3.78 million. This growth rate was slower than the operating profit growth due to interest inflows turning into outflows over the year as a result of increased debt used to fund acquisitions and due to accounting for share option costs. Diluted earnings adjusted in the same as pre-tax profits grew by 12% to 12.54p. Earnings growth was dampened by share issues over the year used to pay for acquisitions and the company's effective tax charge rising from 17.6% in the previous year to 24.1%. A total dividend for the year of 1.8p was paid, a 50% increase over 2006. To the balance sheet and over the period the company's cash in the bank halved from £6 million at the end of 2006 to £3 million mainly due to spending on acquisitions. At the end of the period net debt stood at £1.95 million compared to net cash of just over £6 million at the end of 2006. However, the company is cash generative and over the year net inflow from operations was up by 24% to £4 million. Presuming no further acquisitions are made NBT should have net cash by the end of the current year to 30th June 2008 at the very latest. Two acquisitions were made during the year which expanded the company's product offerings. In August 2006 NBT bought UK managed hosting provider, Exalia, for £3 million in cash. Exalia has been fully integrated and last year made a useful first time contribution to operating profits of £0.56 million. More significantly, in January 2007 the company acquired Danish company Ascio technology Holdings for £18 million in a mixture of cash, shares and options. At the end of the year the company said that the integration process was on track and that savings and benefits from economies of scale are expected in the second half of the current year. The integration process is expected to last until mid 2008. In July 2007 NBT acquired Envisional for up to £4 million in cash and shares. The deal added new brand protection services to the company's offerings. Using its artificial intelligence technology Envisional can search the internet for illegal activities concerned with its clients brands', such as fraud, piracy and counterfeiting, which when identified customers can put the means in place to stop them. This deal also provides an excellent opportunity to cross sell these services to NBT's existing clients. OPPORTUNITIES & THREATS: NBT is ambitious and has stated that it intends to grow its revenues to over £50 million a year and we think that this is an entirely achievable goal. While there are around 130 million domain names registered around the world at present the market is still in the early stages of its development. The number of internet users worldwide continues to grow with the greater availability and lower prices of broadband services. NBT has a good range of products that can capitalise on this growth. Microsoft estimates that the web hosting market will also continue to grow substantially over the next few years. A new opportunity for the company arose recently as the new .asia domain name has now been opened for registrations. With many companies looking to do and currently doing business in Asian countries this provides the Netnames business with a huge opportunity to manage further websites for its clients. Applications for the new suffix are currently being taken with the first domain names expected to go live in March 2008. As NBT has a strong history of acquisition-driven growth we would not be surprised to see more bolt-on acquisitions in the future. However, since the company has been busy on the M&A front over the past year or so we would like to see all the recently acquired companies fully bedded down before any more are made. These acquisitions are expected to provide significant additions to earnings in the coming years so integrating them smoothly and on target is a key target for NBT. Of course there is a risk that something may go wrong in this respect but considering that everything looks to be going well so far and that NBT has a good history of integrating acquisitions into the company we are confident of a successful outcome. RECOMMENDATION: Over the past five years NBT has grown its revenues at a compounded annual rate of 38% and since 2004 pre-tax profits have grown at a compounded annual rate of 78%. Although the company is forecast to continue to grow this year its rate of earnings growth will be reduced by the impact of the acquisitions made and by an increase in the number of shares in issue used in part payment for the deals. In the current year to 30th June 2008 NBT should post revenues in the region of £33.2 million with adjusted pre-tax profits of £4.9 million and adjusted earnings of 13.8p. That is only 10% growth at the earnings level but once the acquired companies have been fully integrated in the year to 30th June 2009, as we expect them to be, earnings growth should be given a boost. In 2009 revenues are expected to reach £37.5 million, with adjusted pre-tax profits of £7 million and adjusted earnings of 19.4p. That's forecast earnings growth of 41% more than expected 2008 earnings and puts the company on a 2009 PEG of just 0.28, which in our book is way too low for a cash generative, rapidly growing company like NBT. BUY. Key Data EPIC: NBT Market: AIM Spread: 200p - 207p (3.4%) |
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