Maintel Share Discussion Threads

[impvesta] 24/3/2015 07:40

RNS this morning:

"The Company announces that it posted its annual report and accounts for the year ended 31 December 2014, together with notice of the Company's Annual General Meeting ("AGM") and accompanying proxy form, to shareholders on 23 March 2015. A copy of the annual report and accounts has also been published on the Company's website, www.maintel.co.uk."

If the full year accounts are on the website I certainly can't find them. Has anybody else been able to find the appropriate web page?

[henryatkin] 09/3/2015 08:54

The lowish free float helps keep away the traders looking for a quick 5-10% and also shorters, so not all bad as far as investors are concerned.

[buffetteer] 09/3/2015 08:30

Agreed.
Management seem v confident of further growth and savings from acquisition.
On an historic earnings of 14x and forward earnings of under 12x. That is too cheap for a business growing fast with v high returns, v high repeat business (73%) and profit growth. There is clearly a small float for PIs which is probably holding the price back but I'm not bothered.

[impvesta] 09/3/2015 07:21

Results out this morning:



Strong increase in profits, eps and dividends:

"· Reported revenues up 35% to £41.9m (2013: £31.1m)

o Organic revenue[1] up 1%

· Adjusted profit before tax[2] up 16% to £6.1m (2013: £5.2m)

· Adjusted earnings per share[3] up 24% to 46.7p (2013: 37.6p)

· Proposed final dividend per share increased 29% to 11.6p, implying total full year dividend of 20.9p

· Significant improvement in cash generation; net cash flow from operating activities of £6.1m

· Recurring revenues of £30.5m at 73% of total Group revenue"

Hopefully the market will be impressed but you never can tell!

[buffetteer] 03/2/2015 17:31

I've been in 3 years now topped up on weakness .now have £250k invested .will not sell one penny of this excellent company .weve seen the profits multiply and I guess theyre quite optimistic since they've taken on debt to buy latest acquisition (not diluted existing shareholders with a rights issue or placing as per normal ).
With about 70% owned by directors and close associates Were well aligned to them . Mai has one of the highest rates of return of any listed company .since that's Buffetts key criteria I think we should do ok . It was valued at 750p before the latest acquisition so I reckon its worth 840p - 15 x this years earrings.

[impvesta] 03/2/2015 10:02

I've joined the small club this morning. Couldn't deal online so had to give an online fill or kill order for a broker to deal for me. It was filled anyway so I'm in now!

I like the rising turnover, dividend and reasonably low price sales ratio. I just hope debt doesn't spiral if they are on the acquisition trail.

[buffetteer] 13/1/2015 14:11

No news ,thin market in these so any moderately sized sales will exaggerate the price fall. Been there before start of 2014 580 down to 530.
56p earnings for 2015 ,high Roce of 64% .Earnings have grown 24% compound over 6 years -excellent .Bought in from 275p all the way up .
Buy when others are selling .

[penpont] 13/1/2015 13:50

A more modest add for me - 1000 @598p

[buffetteer] 13/1/2015 12:24

just topped up £20k at 600p.

[penpont] 13/1/2015 12:16

Cause for concern today or buying opp?

[leona306a] 12/1/2015 21:37

Hobie Amendment. Sorry I meant MAI.How stupid am I?.

[leona306a] 12/1/2015 21:26

Hobie.Have you considered investing in MIA?.Here are a few facts that may interest you.EARNINGS GROWTH for the year ending Dec31st 2009....46% Dec31st 2010....15% Dec31st 2011....36% Dec31st 2012....28% Dec31st 2013.....7%Earnings growth are the figures that really matter.Bearing in mind this growth was attained during the recent world reccession , that has got to be impressive. FORECASTS earnings growth year ending dec31st..2014..18.6% Dec31st .2015.25.5%These forecasts are before recent acqusitions. The sky is the Limet.Today's fall in price should be considered a buying opertunity.

[dlku] 27/12/2014 17:10

Thousands of recently highly paid workers have been laid off after the oil price plummeted

[oregano] 14/11/2014 12:23

Just ticking up each day. Long may it continue.

[penpont] 12/11/2014 08:30

Many thanks Buffetteer, but just go ahead and buy as and when you wish. I'm still freeing up funds for future additions to my holding here. Good luck and if you come across any other broker info etc feel free to share here.

[buffetteer] 12/11/2014 07:59

Penpont
I've been able to buy £15-20k per trade . You may need a broker to do it for you.
The research I read earlier in the year from their broker had a target value of 750p before the recent acquisition !
Do t think you will go wrong with such a large margin of safety.
Let me know when your done and I'll buy more.

[penpont] 11/11/2014 22:34

Greetings Buffetteer. Yes, a v quiet thread - only 100-odd posts since I started it 10 years ago! Unfortunately I haven't stayed the course and have only recently started buying in again. They seem v hard to acquire in any size -Selftrade can only seem to get me 500 at a time.
I had thought maybe 12x forward eps might be a suitable rating which still suggests a price up to the 700p mark. I'll keep adding on any weakness meantime.

[buffetteer] 11/11/2014 17:47

Penpoint
Glad to see a fellow fan ! They have obviously decided to go for it ,borrowing and buying growth . They haven't put a foot wrong and seem to be completely ignored by the market .They have excellent Roce ,growing earnings and high dividends and little/no debt until now. Only negative is unwillingness to speak to shareholders ,no outward effort to improve communications or liquidity .I can put up with that because they just get on and perform .
I value them at 15x earnings so about £8.40 -45% above todays price. Lots of catching up vto do when the market wakes up .

[penpont] 11/11/2014 13:34

Finncap seem to have raised their 2015 forecast by 10.7p to 56p following the recent acquisition, with a corresponding rise in the divi to give a 5% prosp yld.

Broker Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
(2014/15)

FinnCap 27/10/14 CORP 6.10 44.60 20.40 7.70 56.00 27.00

[buffetteer] 06/12/2013 14:02

Seems i was right -shares up over 50% in less than 3 months . If we get 10% growth next year why cant we get to over 600p ?

[buffetteer] 25/9/2013 16:29

think were starting to see benefits of acquisitions past and latest one announced recently. This should boost earnings as CEO stated . positive noises for rest of year should see rerating continue .analysts think they're worth 450 ish -I agree 12x forecast earnings of 38p is pretty low. could go much higher idf the market wakes up to the company's strengths rather than its tightly held shares.

[miata] 19/9/2013 10:09

RNS Numbers 17710 & 22130 show that major shareholders slightly increased their holdings this week, hence positive price movement and hopefully future support.

Actual Forecast
2012 2013 2014
Revenue £m 28 32 43
EBITDA £m 2 5 6
EBIT £m 1 5 6
Operating Profit £m 1 - -
Norm. Pre-Tax £m 1 5 6
Norm EPS p 3.40 36.50 44.00
DPS p 12.30 14.40 17.40
Dividend Yield % 3.42 4.00 4.83

[oregano] 19/9/2013 09:27

that is in the past. Fincap is forecasting 32% growth in turnover and 17% growth in profit next year from the deal. off a low multiple that should support a re-rating. their 500p target price would only put Maintel on a PE of 11x next year. The sector has been strong recently. catch up time.

[miata] 18/9/2013 12:33

I think you might have the wrong mode of travel analogy, to me the word is accelerate.

Adjusted profit before tax was £2.359m versus £2.354m in the corresponding period last year. Diluted adjusted EPS was 16.7p which compares with 16.4 (H1 2012) and 18.3 (H2 2012). Net cash fell to £0.7m from £1.941m at 31/12/12.

H1 2013 maintenance revenues were 2% down against the corresponding period last year.

H1 2013 mobile revenues were 16% down on the first half of last year.