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INP Inspicio

226.00
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Inspicio LSE:INP London Ordinary Share GB00B07BZ776 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 226.00 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Inspicio Share Discussion Threads

Showing 26 to 47 of 250 messages
Chat Pages: 10  9  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
11/5/2006
07:57
Good sector, good mangement, good busines model.

Could double and get taken over by GE.

honiton
10/5/2006
15:26
why don't you post on the other thread?
robsy2
10/5/2006
10:49
Continuing to rise.
tday
02/5/2006
20:54
This ones a winner. Excellent management and business sector
honiton
29/4/2006
09:54
Thanks Simon.
Here it is; need to cross-check the profit projections.

This former cash shell was set up by the people at the British Standards Institution - behind the famous kite mark symbol - in the 1990s, with the express purpose of buying up testing agencies.

Its first purchase was the inspectorate business of BSI for £52m last year, which tests oil for Shell and Texaco. Earlier this week it bought the environmental testing business from Mowlem.

Analysts at Bridgewell reckon this acquisition will allow the company to increase profits from an expected £4.5m this year to £9m next year, putting the shares on a forward rating of under 15. This is not expensive and at 122½p they are worth buying.

jonwig
29/4/2006
09:47
Tipped in the Telegraph today.
simon gordon
26/4/2006
16:54
With Intertek you get the security of knowing administratively they are ok, but I'm a bit concerned strategically with how their business in the Far East might by affected by EU anti-dumoing measures for things like shoes.

With Inspicio, it's all about whether the managhement can bring the business up to the kind of margins that they aim for. If so, it's very attractive, and I'd expect the shareprice to have positive reactions to news flow that confirms they ar on schedule.

shuisky
26/4/2006
07:54
Hi Jonwig

I am attracted by the potential of INP yet I think the valuation is pretty full in relation to other growth stocks I am investigating.

If the share price was £1.00 I would be more likely to be a buyer.

Good fortune!

*They are carrying 20m in debt and if the turnaround hits a bump it could knock the shares.

simon gordon
25/4/2006
11:10
Simon,
I always use a tax rate of 30% when doing this sort of calculation.
In that case, the P/E becomes about 10.5x (undiscounted).

Intertek [ITRK] is on an historic P/E of 22x.

Putting INP on a similar rating two years down the line, and discounting back at a 20%pa rate:

PBT = £9.7m minus 30% tax = £6.8m.
Divide by 58.75m shares = eps of 11.5p.
Discount for two years @ 20%pa = 7.4p.
Apply a P/E of 22x gives fair share price of 163p.

NB:
Discounting at 20% is a bit high, and I'm a bit cautious!

jonwig
25/4/2006
08:01
simon - I must admit I didn't check them.
Is the header now as you were expecting?

jonwig
25/4/2006
07:55
My figures above are totally off base.

I think the forward P/E for 2007 is probably around 15.

simon gordon
24/4/2006
15:22
Hi Jonwig

Could you put the links to the new two companies in the header?

Thank you

simon gordon
24/4/2006
09:14
2007 Forecast prior to ESGL

T/O - 119m
PBT - 7.15m
EPS - 6.94

2007 ESGL potential forecast

T/O - 46m was 43m in '05
PBT - 3.2m was 2.6m in '06

2007 combined

T/O - 162m
PBT - 10.3m
Tax - 25%

Interest on ESGL PBT is 0.6m

Leaving 9.7m minus 25% tax = 7.27m divided by 58.75m shares = 12.37 EPS.

£1.22 divided by 12.37 = 9.9 P/E

These are just rough calculations we will have to wait until the house broker releases the new figures.

*I think I may have got the tax rate wrong and it could be 35% which would give a P/E of 11.37

simon gordon
24/4/2006
08:04
Hi simon.
Yes, looks good.
Also they don't seem to have any problems raising new money by placing shares at current prices.

jonwig
24/4/2006
08:02
This looks a very good deal. I'm surprised the share price has not gone up much further. My first number crunch puts INP on a P/E of 9 for 2007.
simon gordon
19/4/2006
16:46
Looks like a great area of business. I have done very well of late investing in the environmental sector so I am really happy with this move, if it comes off, see below.
Environmental testing looks like a perfect business fit. I am very confident of the future of this company.
Robsy


13 April 2006

Inspicio looks over environmental offer


Inspicio is preparing to add to its inspection and testing business with the acquisition of Environmental Monitoring Services from Mowlem. The deal would give Inspicio substantial environmental testing resources, and follows its acquisition of commodities inspection specialist Inspectorate for £52m in October. Inspicio won't reveal the value of the deal, but is raising £4.5m from investors.



Inspicio promises to build a significant inspection and testing business, but this deal is not done yet. At 125p, the shares are fairly priced.

robsy2
08/4/2006
13:34
Probable new division:
simon gordon
07/4/2006
09:31
Potential Acquisition - Inspicio plc





RNS Number:1735B
Inspicio plc
07 April 2006

7 April 2006

Inspicio plc ("the Company")

Potential acquisition

Inspicio plc (INP.L), the UK and international inspection and testing business,
is currently in discussions which may or may not lead to the acquisition of
Environmental Services Group Limited (the "Business"). If the transaction
proceeds, it is expected that the Company will conduct a small placing at market
price within its current shareholder authorities of approximately £4.5 million
in order to satisfy part of the consideration.

The Business commenced Transfer of Undertakings (Protection of Employment)
(TUPE) discussions with its employees today. A further announcement will be
made in due course.
Ends

robsy2
28/3/2006
16:13
Thank you jonwig for the words of encouragement.
In the spirit of sharing ideas I add the following;
I picked up on this company through an artcicle in IC about cash shells. This one was promoted by a company called Marwyn (see below) . Thye have a good philosophy and a good track record,so I had a dig around and ended up here.Had a closer look at the company and the management involved and got quite excited.
If anyone is interested another couple of Marwyn promoted companies that look solid propositions are LNG and AUG.
LOL Robsy

Marwyn Capital

Marwyn's record has been particularly strong over the past two years, with shells such as Zetar and Talarius coming to the market and making a series of deals. Of the six shells it has brought to the market over the past year, all raised more than £3m at float and five have already done deals.

The quality of Marwyn's approach is illustrated by the share price performance of the likes of Zetar, up from 120p to 335p and Talarius, up from 97p to 185p since the beginning of last year.

The Marwyn shells usually float once they have a potential deal lined up, as managing partner Mark Watts explains: "We won't put a vehicle up unless there are strong enough opportunities. Our deals are set up on the back of the management, who will then sell their business into the vehicle and we retain a stake."

robsy2
27/3/2006
17:54
Hi Robsy.
A good move, I think.
Alas - I sold mine a short while ago as I needed some cash.
Stupid of me. May buy back if there's a dip.
Best of luck!

jonwig
27/3/2006
16:50
Looks like everything is running smoothly. I jumped in prior to the results and like what I see.
Looks like the kind of stock that will make progress without too many fits and starts.
Robsy

robsy2
03/3/2006
09:39
FY results 27 March
jonwig
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