ILX Share Discussion Threads

[spaceparallax] 08/8/2008 11:15

There we have it; Marlborough are the ones responsible for the recent share price falls by reducing from 3.9 to 2.4% holding.

[mudbath] 03/8/2008 19:25

Good to see the share price edging upwards, DESPITE there being a plentiful supply of stock remaining on offer.Posters have possibly already digested the recent article carried in Growth Investor.For those who missed it :-(sorry link not working-just Google "growth company ILX"-)to read this interesting artcle.

[deanroberthunt] 28/7/2008 20:14

I firmly believe this company has reached the turning point, the acquisitions look to be bedding down nicely, after a year or so of teething problems....strong cashflow and decent profitabilty, even in the face of an ecomonic downturn.....a doubling of the dividend is a strong indicator to further earnings strength going forward....looks likely that future payments for acquisitions will be covered by cashflow, and not dilutive placings, which is the usual scurge of the minnow.

moreover, the recent updates have been frequent (for a small cap), extremely positive and well presented...although the forward targets are modest, I prefer that to pie in the sky and then the inevitable profit warnings...lets have conservative forecasts that can be met...as long as we see continued eps growth, thats fine.

I agree with Mudbath, anyone buying at these levels for the mid-long term should see a decent return, with a nice dividend to keep one interested. I intend to attend the next AGM as this company moves from a start-up to a solid performer. If it can maintain the current trend in this economic environment, then when the worm turns we will be in a very strong position.

Looks like the thread is getting busier too, together with the volume...both a good sign the stock is attracting more interest.

[hari88] 28/7/2008 17:50

Thanks . Here's hoping.

[mudbath] 28/7/2008 12:12

Good luck Hari88 !! Like spaceparallax I too suspect that your investment will prove wealth generative.38 pence could look incredibly cheap if you hold the shares as an investment,taking say a two to five year view. Hopefully the stock will move to a more appropriate 40-60 trading range over coming weeks.

[dusseldorf] 28/7/2008 12:10

hari88 - you can also look forward to a divi in the region of £300 within the next few months

[spaceparallax] 28/7/2008 11:58

Good luck. Although you might experience an up and down ride in the short-term, I suspect that your investment will pay off in time.

[hari88] 28/7/2008 07:53

I've just bought £8000 worth at 38p!

[mudbath] 27/7/2008 09:07

Looking at the trading momentum of ILX and having regard to the latest,most bullish update,it looks,imo,as though PBT for the current year will emerge at,or above £2.4millon;whilst cash generation from trading should exceed £4million.This would place our company on a P/E of sub 3 and enable it to make the final earnout payment of £2.5million ,yet at the same time doubling its cash reserves.Ahead of schedule paydown of the Barclays facility might also be possible.The following year,in my view,is when investors (The Markets)might regard ILX more seriously,with the company's training product hopefully adding further significant market share and with free cash flow gaining more impressive momentum.As regards share price performance,I would be very surprised if the shares remain at sub 55 pence by the year end.In the more medium term ,I am holding the stock in the expectation of seeing the ILX Market Cap multiply sixfold.The spread on the shares,whilst best avoided,should not therefore,imo,preclude any potential investor from taking a stake in ILX at these levels.

It is well worth reading again Ken's comments in the folowing article-particularly those in the final paragraph under the heading "hidden gems".
It was via his discussions with Gary Carter-CEO of Flomerics(now taken over at a price 300% above quite recent lows)that the potential of ILX came to my attention.

[mudbath] 26/7/2008 16:09

I see that Andrew and Anne White no longer hold a 3% + stake in ILX according to the above list.Andrew White was M.D. of the ILX Mount Lane facility.Does anyone know if he is still in place?? Could be the Whites' shares which are presently on offer.
Firthy-If ILX shares do not move upwards,then the potential for buying stock at well below the asking quote will resurface.

[firth] 25/7/2008 16:11

well it looks like the 'overhang' has gone today. 38p to buy this afternoon.

[mudbath] 25/7/2008 10:52

According to the ILX website these are the current significant holders.

Barnard Noms........2,177,430
Investec............1,850,000


Brewin Dolphin......1,471,544
Park Row Group......1,030,652
Singer & Fried......1,009,438
Kate Blackall....... 843,190
Marlborough F.M..... 760,000
Singer F.Aim 3VCT... 591,600

Any RNS should alert us to the source of current sales.Over50% are in P.I. hands so it could of course be private sales.Doubt it though.

[spaceparallax] 25/7/2008 09:22

Mud,

I'm unsure as to KB's present holding. You might be right on the insti holding idea, but whatever the answer, ILX do seem to have been particularly badly afflicted by it over the years. I've held for a few years and have felt the share price pain - fortunately, my faith in the business model and Ken Scott have remained.

Hopefully, we will see rewards.

[mudbath] 25/7/2008 07:56

spaceparallax,

Don't think the "tap" can be Kate Blackall as she only retains 843,190 shares and has held this level,more or less, for the past 2 years.More likely, imo,is that it is one of the Insti's whose investment rules preclude them from ,"say",holding stock in a company valued at less than £7millon,or from maintaining a holding where the value drops below £500,000.Whoever IS dumping,they are relentless.Winterfloods meet any request to buy ILX stock with immediate agreement at or below middle price.My broker is of the opinion that should the tap dry up,then we should see a surge in the S.P. as fundementals re-exert themselves.Whatever,for ILX bulls,this does provide a fantastic opportunity to assemble a holding whilst avoiding the spread.

[mudbath] 24/7/2008 10:04

spaceparallax-As you observed at 886,there is a plentyfull tap of ILX stock.Firthy found this out when buying @ below middle price yesterday,whilst deanroberthunt often comments that the overhang keeps the ILX share price in the doldrums.As an agressive buyer of the stock,the tap, for me, is more than welcome.Possibly not on dealing screens yet,the trades @ 34 and 35pence,each for 25000 shares,are also BUYS.

[firth] 23/7/2008 14:25

I decided today to join Mudbath,and buy a few shares. I put a dummy trade in to see if I could get 37p. [showing 31p--38p] I thought I was seeing things it came up at 34p,so I snapped their hand off. The trade by the way is listed as a sell 10k at 13.22pm.

[spaceparallax] 23/7/2008 09:09

It would always be nice to have no debt, however, it is at least very much manageable nowadays.

[mudbath] 23/7/2008 08:17

Agreed deanroberthunt-yet ILX cash generation is impressive and could improve further.Were the Barclays debt repaid and were ILX to see progress continue at the current rate,then ,for me,the shares would be cheap at £1.00.

[deanroberthunt] 23/7/2008 06:12

the debts a tad higher than one would like, compared to MCAP...

[mudbath] 22/7/2008 20:02

A little balancing bearish observation would be welcomed.Any offers??

[mudbath] 18/7/2008 13:38

Quite possible;if a 22% increase in T/O can be maintained,or bettered,in the current year;that retained profit would leap by some 50% minimum,whilst cash generation should also surge.Whilst I have only become a holder this week,ILX looks most promising.

[deanroberthunt] 18/7/2008 12:53

trading spread is 36.75-39, not bad really, for ILX anyhow.

[deanroberthunt] 18/7/2008 12:01

could move up very quickly with only a modicum of buying....shame I'm fully invested here at 35p, 43p and 46p.