Ite Share Discussion Threads

[snap23] 29/12/2008 09:28

Anybody in this i've bought twice today looks as though its hit the bottom.

[handycam] 19/12/2008 17:17

End markets going down the pan, though. And a marginal business to boot.

[volsung] 19/12/2008 15:17

These look very low in price. Thinks...I will buy some at 61.4p

[darola] 11/12/2008 12:56

And another 500,000 in to the trust....

[darola] 09/12/2008 12:01

Directors buying 150,000 shares looks pretty good to me..

Quite on here - with plenty of cash in the bank perhaps this one if flying under the radar.

[whiterussians] 14/11/2008 15:35

By Claudia Assis
Of DOW JONES NEWSWIRES

NEW YORK (Dow Jones)--As Russian stocks sink deeper into the red, fund managers specializing in the country's stocks are still keeping their cool.
Russia's massive natural resources and huge cash reserves should keep the economy afloat near term. But the sailing will be extremely rough.
The dives in crude oil and metals prices, along with renewed concerns about state intervention in private companies, have sent Russian equities plumbing the depths.
Russia's two stock exchanges shut down Wednesday following share prices plunges. The bourses reopened Thursday, but in fits and starts. The largest stock exchange, the MICEX, was reopened on the regulator's orders.
The stock sales intensified following hefty central bank currency market intervention, a slightly devalued ruble, and an interest rate increase. Rather than reassuring them, the actions spooked investors further. The RTS stock index has fallen 24% this week.
The country's stocks are down 19% in dollar terms this month, and down 72% so far this year, according to the MSCI Barra Russia index.
Despite the losses, dedicated Russia investors are sticking to their guns, focusing mainly on companies benefitting from Russia's growing middle class.
"Russia is being punished right now," but will still grow 3% to 5% next year, said John T. Connor, manager of the Third Millennium Russia Fund, which has about $100 million in mostly Russian equities. "I'm happy with the hand I'm holding now," he said. "Consumer demand is still pretty good in Russia."
The economy should still grow about 7% this year.
Connor's hand largely consists of domestic-oriented companies such as cell phone companies Mobile TeleSystems (MBT) and Vimpel Communications (VIP), and Russia's largest food retailer, X5 Retail Group NV (FIVE.LN).
In addition to focusing on domestic-oriented stocks, managers at Los Angeles' Metzler/Payden, a $180 million fund dedicated mainly to Russian equities, have been concentrating their resources on large-capitalization companies. "(They) are less likely to run into liquidity issues," analyst Vladimir Milev said.
Third Millennium's Connor returned Monday from a trip to Moscow and Ukraine's capital, Kiev. In Moscow, people didn't seem afraid for their jobs and were not in a "panic mode," he said. "I didn't get a sense it was 1998 all over again," Connor added, referring to Russia's currency crisis and debt default a decade ago. "Stocks have been punished, but it doesn't mean the economy itself will collapse."
Russian authorities are moving aggressively to prevent just that.
The central bank said Thursday its foreign reserves fell $9.2 billion to $475.4 billion in the week to Nov. 7, down from almost $$600 billion in early August. The government can also draw on a Reserve Fund worth an estimated $130 billion to sustain public spending now that oil prices have fallen way below the budget assumptions.
"They still have quite a treasure chest there, which they can use to protect themselves," said Citi emerging Europe, Middle East and Africa analyst Andrew Howell. "But still, fear has set in."
Russia has been dipping into its savings at a break-neck pace that concerns investors, but the central bank said capital outflows peaked in September and October, so the need to use reserves to support the ruble is likely to decrease significantly in the coming weeks.
Perhaps, but investors also worry about the country's bloated banking sector and foreign currency debts weighing on many companies' balance sheets.
Political risk remains an issue as well, which has been demonstrated by government threats against firms and their owners.
Earlier this year, Prime Minister Vladimir Putin issued veiled warnings against coal and steel giant OAO Mechel (MTL), reviving fears of another Yukos - the once-giant oil company destroyed by allegations it owed back taxes.
OAO Uralkali (URKA.RS), Russia's second-largest potash producer, also fell earlier this month when the government reopened a two-year old environmental case against the company, which also re-ignited investors fears over a Kremlin move against a company.
To calm worries, Russian President Dmitry Medvedev said Thursday the government has no intention to nationalize companies.
Despite all the negatives, redemptions from Connor's fund have been "moderate," as most of its investors understand they'll have to weather the storm, he said.
Most clients of Harold Warren, head of sales trading at Russian brokerage Uralsib in New York, are sidelined, waiting for the dust to settle. "Things are quite difficult," he said, "but Russia is going to survive. It's not going to stop operating."
Others agree. While energy and commodities prices have fallen hard, Russia remains a top producer by volume of oil, natural gas and metals, global consumption of which won't disappear altogether. That means Russia's commodities will continue to generate income, albeit at lower levels.
The market is already pricing in much of that decline in earnings, Citi's Howell said. Valuations are now cheap - the average Russian company is trading at price-to-book ratios around seven times, versus their peak in 2006 P/E ratios stood at 16 times.
The market swoons and political risk concerns may have made Russia a tougher sale, but Warren sees stabilization in the first quarter of next year.
By most accounts, the country still has enough money saved and coming in to get from here to there.

-By Claudia Assis, Dow Jones Newswires; 201 938 4385; [e-mail]

[geko5trade] 18/9/2008 14:40

Yes I was looking through the loan stock and I think someone had a ahort. Still that will have to be bought back. They look to have very strong cash flow and institutional buying support. Could easily bounce from these levels and deserve to with ebidta where it is

[yump] 18/9/2008 08:46

Crikey I haven't looked at these for a while, but doesn't seem much wrong.
Back to a p/e of around 12 ish ?

[geko5trade] 18/9/2008 07:23

Anyone still following these. See they are very cash generative and very happy to buy back their own stock on a regular basis.

[davidosh] 15/7/2008 16:21

Any thoughts on the director selling 2m at £1.72 ? I think I will follow him as calling a top in these markets ...

[tole] 13/6/2008 09:49

Had a nibble today to keep me interested.

12-Jun-08 ITE Group ITE Altium Capital Buy 167.75p - 200.00p New Coverage

[elgordo] 14/5/2008 17:05

From today's Telegraph -

Exhibition organiser ITE Group added 8¾ to 164p after ABN Amro upgraded it to buy from add on the expectation of strong half-year results next week. "ITE is a strategically attractive asset, given strong market positions in dynamic markets with high visibility and high barriers to entry," said analyst Simon Davies.

[ggekkko] 14/1/2008 17:08

oh dear, not good news

[ggekkko] 14/1/2008 09:59

looks like a target for shorters
i notice barclays have been reducing as well
there are also some heavy duty orders on the sell side of the order book in the mid 150's

[elgordo] 15/12/2007 17:25

Taken a while to notice this (not exactly a regular reader of The Mail), but ITE was tipped by Midas on 9 December, following the prelims -



"Midas verdict: ITE shares are trading at 166½p, but City brokers like the company and believe that the stock should rise to at least 210p. Buy."

[company] 02/12/2007 17:03

Business section Sunday Telegraph
ITE group, the trade exhibition and conference organiser, is expected to
post full profits before tax of £34.6m a 40% per cent increase on the previous years £24.8m. Time for more discussions on this B.B

[typo56] 15/6/2007 17:49

I'm fairly sure that the fall this afternoon was due to ITE leaving the FTSE Small Cap index and joining the FTSE250 on Monday. There are two stocks doing this - DGG and ITE. Have a look at what happened to DGG this afternoon - much the same. I think it's the effect of tracker funds adjusting their weightings. Perhaps a stock at the top of the Small Cap index has more of a tracker following than a stock at the bottom of the FTSE250.

My guess is that we will see a firm recovery next week. A buying opportunity IMO.

[elgordo] 07/6/2007 18:49

Huh? Why would promotion to the 250 cause such a drop? I suppose any Small Cap tracker funds would have to sell - perhaps that's what's happening now, and there will be a concomitant uplift when the 250 trackers start buying?

Interestingly, Domestic & General (DGG), the other company similarly promoted, dropped 7% today.

[elgordo] 07/6/2007 07:34

Blimey - into the FTSE250; I hadn't realised just how big ITE has grown over the years. I wonder whether the need for index trackers to have a stake will help demand for the shares (I also wonder how many are not already held by institutions?).

[elgordo] 21/5/2007 09:30

Profits up 60%, dividend up to 1.3p, forcasting continued strong growth. New all-time high share price. As ever, glad I decided to keep holding.

[elgordo] 18/2/2007 13:52

Article in this week's Shares magazine, as a result of Edward Strachan's share sale. I only skim-read it (too mean to actually buy the magazine), but key points were that it was encouraging that his sale had not impacted the price, and that whilst next year's revenue growth is expected to be 2.5%, the company has a track record of exceeding estimates, and that if it does continue to do so then the shares would be "undoubtably undervalued" (or words to that effect).

Meanwhile, if previous years' pattern is repeated, we should see a trading statement in the next day or two...

[elgordo] 09/2/2007 10:30

All I can suggest is that, as I mentioned in post 90, ITE typically issues a trading update in advance in advance of the AGM (now only 9 trading days away), and perhaps people are expecting the news to be good.

As a long shot, I wouldn't be too surprised if one day ITE gets bought out by a larger global media group, or by a private equity fund (potentially appealing as a cash generating machine).

[chameli] 09/2/2007 09:58

I really don't understand the spike in ITE. Yesterday a director and Tan Consultants sold 2,00,000 shares at 167p, yet the spike is continuing. Can anyone find what the reason for the rise. is a rns expected? Please enlighten.