ILX Share Discussion Threads

[barn owl] 03/7/2008 15:09

Analysts are forecasting profits of £1.9 million from £14.1 million sales this financial year, ahead of £2.2 million from £15 million turnover for 2010. Estimated earnings of 6.8p and 7.8p with dividends of 1.5p and 2p, place the shares on a prospective multiple of just 5.1 and 4.5 with a growing divi yield.
The problem is that when the economy slows down, training budgets are cut. Although ILX shows no signs of slowdown in the recent results, this can change very quickly. The seller is perhaps, not surprisingly, worried about this. I notice that EDD shares have recently been sold down recently, but so as the whole bloody market! Hopefully this will come good over the long-term as i have taken advantage of the low rating and bought a few.
Good luck all!

[spaceparallax] 01/7/2008 12:50

let's hope we get the seller shifted soon - must be a pretty large chunk because Buys have been by far the declared majority in recent weeks.

[deanroberthunt] 23/6/2008 16:16

well, you've been able to buy at or below the mid price now for some time....thats a good indication that there's a large seller skulking about imho...

hopefully, they'll be done soon and we can let the fundamentals take charge...what we need is someone with deep pockets to realise the value here....anyyone, I'm just a mere pauper.

[dusseldorf] 23/6/2008 12:40

spaceparallax - I suspect MM's working out a price for the seller - share price has to move down to that level and we may see large trade squeezed through

[spaceparallax] 23/6/2008 12:34

Don't understand why the sp's dipping - I recall seeing the signigificant majority Buys recently. Perhaps someone like KB is disposing of a sizeable chunk?

[tole] 19/6/2008 17:03

Update out on GCI tonite.

[spaceparallax] 19/6/2008 11:28

I'm amazed to see that we still have some sellers - those results were significant in the tangible improvements demonstrated, the confidence demonstrated by the divi enhancement and optimism in outlook despite recognition of the difficult times. ILX have been through some tough times, but it now appears that the fundamentals are really strengthening - there would be no mileage in over-egging the outlook.

[deanroberthunt] 19/6/2008 06:43

to me a fwd pbt of £2.5m and an MCAP of £6.5m is just plain wrong.....if somehow we can just clear this overhang, then its chocks away.

[spaceparallax] 18/6/2008 14:00

It would be nice if the share price could edge up a little more to break the SMA45 graph.

[tole] 18/6/2008 11:10

18-Jun-08 ILX Group ILX Arbuthnot Strong buy 36.50p - - New Coverage

Reacting, Arbuthnot Securities initiated coverage on the group with a 'strong buy' rating and 60 pence price target.




ILX Group, an education and training company, closed 4p higher at 35p, despite warning that it expected 2008/9 to be a "challenging economic environment". Ken Scott, the chief executive of ILX Group - which provides vocational training to the private and public sectors through e-learning, courses and workshops - said he was confident about the company's prospects. "Our business is well placed to be able to thrive in such an environment and both operating divisions have started the year with a great deal of momentum," he said. "The decision to declare a recommended final dividend at double last year's underlines our confidence in the business."

Arbuthnot analysts initiated coverage of the company with a strong buy recommendation.

[deanroberthunt] 18/6/2008 08:56

looks like £2.5m pbt for fy 2008/09 looks more than achievable.....fwd eps of 10.3, giving a pe of 3.5....and a 5% yield.

[deanroberthunt] 17/6/2008 12:44

nearly 5% yield too....

[deanroberthunt] 17/6/2008 12:06

some decent Director buying would be in order now, to cement the statements...then some write-ups in the press.

[spaceparallax] 17/6/2008 08:17

Superb results.

Hopefully now, the ne'er do wells will stop the gloomy, baseless predictions and wait patiently.

Unfortunately, it could be a while before the share price really begins to see a recovery because of the overhang that has plagued us for a while. However, the business itself appears to be doing well, which should eventually yield reward for patient holders.

[deanroberthunt] 17/6/2008 06:14

payment of acquisitions in cash also.....doubling of dividend, must be confident of reasonable revenue increase going forward, and profits therein.

[dusseldorf] 17/6/2008 06:11

Much better than I suspected too:
Financial Highlights:
* Revenue up 28.7% to £13.3m (2007: £10.3m)
* Operating profit before non-recurring costs* up 36.7% to £2.29m (2007: £1.67m)
* Profit before tax and non-recurring costs* up 27.5% to £1.86m (2007: £1.46m)
* Adjusted fully diluted earnings per share up 12.4% to 6.61p (2007: 5.88p)
* Strong cash generation during the year - cash generated from operations up 59% to
£3.17m (2007: £1.98m)
* Recommended final dividend doubled to 1.5p (2007: 0.75p)
* Non-recurring costs of £253,000 relate to the restructuring of Best Practice and are
included in administrative expenses;
non-recurring costs of £111,000 relate to the refinancing with Barclays Bank and are included
in interest payable.
Corporate Highlights:
* Best Practice restructured at start of year into one consolidated division
* 13.1% revenue growth in Best Practice, with strong growth in Q4
* 12 months of Corporate Training Group included in 2008 (2007: 8 months)
* 15.3% underlying revenue growth in Corporate Training Group
* Targets for second CTG earn-out achieved
* Successful refinancing completed with Barclays Bank
* Strong visibility for both divisions into 2008/9

[deanroberthunt] 17/6/2008 06:10

I'm surprised, I was looking for something dire....but they look pretty ok to me...and doubling of dividend.

[deanroberthunt] 16/6/2008 18:52

looks like a share placing at a mega discount to me.....indubitably.

[dusseldorf] 16/6/2008 13:01

well, we should soon see the reason for decline when management issue the results - and source of funding for the outstanding £2m? payment for historic aquisitions. I suspect the e-mail I received from FD a while ago may well turn out to be a load of bull.....

Dear Dusseldorf

I hope I can put your mind at rest. A placing of new shares (for the CTG earn-out or indeed for any other purpose) has never been under consideration.

As stated in our recent announcement concerning new bank finance, the first installment of CTG earn-out has been fully paid in cash.

The second installment of CTG earn-out, which we expect to be fully earned, is £2.5 million. £1.0 million of our recently obtained £5.0 million term loan remains undrawn to part-fund this payment. The remaining £1.5 million we expect to pay out of our current cash and our operating cash flow. However, should this not be fully available at 30 June 08 for any reason, our agreement for the purchase of CTG provides that up to £1.5 million may be made in shares at the option of the company or, subject to both parties' consent, simply delayed with interest accruing at an agreed rate. A further placing of shares should not therefore be required.

I hope this is of help. Thank you for your email and for your support of ILX Group.

Best regards


Jon Pickles

[spaceparallax] 12/6/2008 12:26

Sadly, there's always been a large overhang.