International Medical Devices Share Discussion Threads

[mitchy] 05/9/2003 13:07

I can't get in either...don't have a 'session password' apparently

[greystone] 05/9/2003 13:02

Ever get the impression you are talking to yourself...? Paul, Maybe you are the only one to figure out the instructions so far. :)

[the other kevin] 04/9/2003 14:52

B - Thanks for that. I'm holding both - and hoping for the jam tomorrow.

[boadicea] 04/9/2003 11:02

Hi TOK - I have not been following ASD so any comment from me is probably under-informed. However, from a brief glance at their results it appears to be precisely the sort of share I avoid, i.e. loss-making , negative cash flow and no div accompanied by cheerful talk from the chairman. Accumulated losses of £43M would tend to indicate that this has been its way of life for some years. The prospects may be glittering but there is far too much to take on trust. Can the leopard change its spots?
I haven't looked at the ASD bb yet, so wonder how this comment compares!
At least, given its price reaction this morning, I'm glad not to be in it.
Sorry to sound like a deramper of ASD - but enough digression on this thread.

Having looked at ASD I feel even more comfortable with INT!

[the other kevin] 04/9/2003 08:43

B - Keep talking, I'm listening. Get past 205/206 and then 250 looks achievable. I'm holding. Have you any comments on the ASD results today?

[boadicea] 04/9/2003 08:28

On fundamentals, sector, etc. I would expect this share to trade in the mid 200 range. I'm no chartist but, given that we appear to have cleared any minor resistance at 180p, at least see no serious impediment to a rise of 20% to circa 220p target.
Any chartist care to comment?
All imho and dyor.

[boadicea] 04/9/2003 08:11

The share value over the past 6 months has indicated that the market feared the worst, or at least something worse than these results which are reasonable in the current climate. There is plenty to go for in this company imho and I am happy to retain it as a long term holding - and in profit due to timely averaging.
As always dyor.
Good luck all holders.

Boad.

PS. Hope not to be talking to myself today!

[boadicea] 04/9/2003 07:37

Interim results -

RNS Number:3743P
Intercare Group PLC
04 September 2003

4 September 2003

The Intercare Group plc


The Intercare Group plc, the pharmaceutical manufacturer and distributor, today
announces its interim results for the six months ended 30 June 2003.

Key Financials H1 H1
2003 2002


Turnover #156.2m #129.3m
Operating profit* #10.2m #12.6m
Profit before tax* #7.3m #10.7m
Adjusted earnings per share* 6.3p 9.5p
Dividend per share 2.3p 2.2p
Cash inflow from operations #13.7m #1.4m

* Before goodwill and licence amortisation and exceptional items

Statutory Figures H1 H1
2003 2002


Operating profit+ #3.2m #7.0m
Profit before tax+ #0.3m #5.1m
Basic (loss)/earnings per share+ (2.1p) 2.5p

+ After goodwill and licence amortisation and exceptional items

Highlights

* Record turnover achieved during period, with sales up 21%
* Excellent results from core Manufacturing Division
o Sales up 73%
o Operating profits before amortisation up 39%
* LCO Sante, acquired in October 2002, successfully integrated
* Distribution Division significantly affected by strength of Euro
* Strong operating cash inflow of #13.7m (2002: #1.4m)
* Trading in line with expectations at commencement of second half

Mr Ken Harvey, Chairman, commented:

"The Group's core Manufacturing Division continues to perform strongly and we
are confident of its prospects for the second half. Despite the major setback
experienced by the Distribution Division in the first half, there are slow but
tentative signs of progress in the distribution market as we commence the second
half, with margins showing some improvement.

Historically, Group profitability has been higher in the second half than the
first. As indicated earlier this year, this effect is expected to be more
marked than in the past. Overall trading in the early part of the second half
of the year is in line with expectations."


For full text click on -



My comments: I'm not sure how market will react as there are good plus points and some negatives here.
I particularly like the increased turnover and strong operating cah flow. Companies that can maintain these factors are not going to get into serious trouble.
The chairman's outlook is less than euphoric, but perhaps he is only being cautious given the susceptibility of results to the uncontrollable exchange rate factor.
I'm sure the adjusted profit is a far truer indication of progress than the statutory one as any write-offs of licence values etc are a recognition of past over-valuations rather than current events.

[boadicea] 31/8/2003 21:12

My comment (236) was thinking of the distribution and parallel import aspects of INT. I assumed the 3rd world drug initiative was mainly concerned with AIDS related drugs and had not associated INT with them although they may be in this field or at least in a position to step into it. Clearly I need to clue up on this - or do you already have relevant info?
Certainly I agree that no negative effects are apparent.

[one for the money] 31/8/2003 16:39

Intercare is one of a group of similar (competing!) cos. that are in a position to take advantage of these changes. Maybe Intercare with its generic drug production facilities and distribution networks is in the a best position. It has to be a 'move in the right direction' even with restrictions imposed. I can't see it having a negative effect on Intercare.

1-4

[boadicea] 29/8/2003 18:29

Thanks for the suggestion 1-4.
It is said that the third-world drug deal is hedged around with restrictions to prevent cheap product getting back into the first-world market. How will Intercare and the like be able to make anything from this?

[one for the money] 29/8/2003 13:33

Rise could be on the recent agreement to allow generic drugs to be more freely available in 'third-world' countries. I don't know more details.

1-4

[boadicea] 28/8/2003 15:39

Published trades do not seem to explain today's jump.
Conclusion: The mm's know something we don't
or
they don't want to let short term traders make a profit out of the run up to next week's interims
or
they are filling a big buy to be announced later.

Take your pick - or does anyone have another suggestion?

[tonyb] 27/8/2003 08:15

just read the headline re because of virus's more internet security will be needed
cant find the article!!!!!!

[lord lukan] 27/8/2003 07:59

not read anything yet tony, what did it say?

[tonyb] 27/8/2003 07:56

LL
did you read the same article as me this morning??
looks like it

[lord lukan] 27/8/2003 07:42

Tony

u see that as a growth area after the recent viruses?

[tonyb] 27/8/2003 07:00

can anyone post the biggest or even the smallest internet security firms please
cheers
Tony

[njp] 23/7/2003 13:27

Much depends on how the interims pan out. INT ought to recover, but will the interims be better or worse than people expect? The company is on record as saying the profit phasing will be more than usually geared to H2, which emphasises the warning on H1.

[royaloak] 23/7/2003 08:41

I bought the morning of the profit warning as it was obvious it had been marked down too far by the flurry of buying. Who was doing the buying? Would not surprise me by the speed of the buying that day, that it was mainly institutional, and that they were buying as they already thought it good value or building a stake for takeover possibilities!

Time will tell!

[msallen9] 22/7/2003 22:58

I think it was marked down to far - and its buys that are driving it up....

I hold a small amount so hoping for hidden value to shine through....

Happy hunting...

[sammu] 22/7/2003 22:08

And up some more.
I was a bit miffed when I topped up a couple of days before the warning, but it seems to be going OK judging by the price action.

The opposite of buy the rumour sell the fact?

Sam

[the other kevin] 08/7/2003 09:19

And another modest rise this am

[njp] 07/7/2003 18:01

Well, INT has confounded the doubters by rising strongly since the p/w. No director buys and now, of course, in a close period. Enjoying the benefit to my modest holding but still too sceptical to risk fresh money.

No evidence for the rise on today's trades. Is there a large buyer in the background?

[njp] 04/7/2003 09:24

keyboard

Interesting piece and I very much share their view. Could be more slippage before the recovery, though, in run up to H1 results which INT have warned will be worse than H2.