Management Consulting Share Discussion Threads

[rochdae] 02/4/2007 18:03

Quite like the look of these. Bought in today anyway.

[iandippie] 02/4/2007 16:23

i'm out. chart looks 'orrid. will keep an eye on them for the trading statement. might be worth buying back in later (and higher?!), but at least i won't be swearing at the screen for then next few weeks.

[penpont] 30/3/2007 13:58

Yes, this has been a frustrating one to hold and my stop loss with IG isn't far away. However I'm determined to stick with the core holding until the April 26 AGM and trading statement. I can't honestly see it being anything other than satisfactory.

[martinc] 30/3/2007 13:57

I've been looking at buying these.. results look a bit patchy over the last few years though... are things likley to be looking up?

[kneath] 30/3/2007 13:37

Yawn...again!

[iandippie] 30/3/2007 12:26

I'm about to be stopped out here.....

[pobpob] 29/3/2007 11:19

this has become a right boring share... am so tempted to sell.. but its so undervalued!!

[kneath] 22/3/2007 21:48

Do we know what those trifling 1m trades were?

[iandippie] 22/3/2007 15:35

starting to look interesting again. each low is higher than the last. another tick up and we could be testing 51 again, and if it gets through 51, then 57 is the next target....

[kneath] 22/3/2007 13:45

wha,,,,uh...mm......ooooaawwwwh, streeetch! Ah that's better, now where were we. Oh yes, Verger, 500,000 just traded. Level 2 anyone? Buy or sell?

[verger] 22/3/2007 10:32

Wake up, Kneath! 500,000 shares just traded!

[kneath] 22/3/2007 09:31

Zzzzzzzzzzzzzz!

[iandippie] 19/3/2007 09:45

Thanks for the info penpont.

Low margins are good! Means there is much room for improvement and if the management get it right, much room for a rerating. I'd rather invest in a company like that, than one that is top of it's game, with very little room for margin improvement.

[welsheagle] 18/3/2007 21:17

Thanks, Penpont.

[penpont] 18/3/2007 13:14

Summary of main points of FT article:

'MCg appears neglected by the market. Similar rivals in the US trade on double the lowly 8.3 times accorded to MCG by Evolution. This reflects lower margins but does not account for all of the discount.. MCG cotrols a series of brands that are performing relatively well and has the potential to outperform estimates for 07.

The recovery of margins, regional diversification and Ineum aquisition have combined to lift MCG accross the board.'

[welsheagle] 18/3/2007 11:47

Can you post the jist of the FT article, Penpont.

[iandippie] 18/3/2007 09:20

Cheers penpont. I thought it was the underlying eps (6.1) too, but seeing as they seemed to be so far ahead of the forecasts, and the price has not responded positively, I was begining to have doubts! The highest forecast for 2006 was ABN with 5.03. On the face of it, MMC beat that by 20%! If that's the case, then I'm wondering how come MMC did not issue a statement saying they would beat anayst's forecasts (I thought more than 10% above forecasts, and a company is obliged to inform the market).

As for basic eps, I believe several investors including ADVFN report basic eps, which as you say, is misleading. Perhaps other investors have yet to cotton on the true value because of this.

I will sit on my hands with this one. I hold over 16,000 of these in the ISA, and was tempted to sell in order to fund the acquisition of other shares, but you are probably right. Patience is the key. I have made stellar gains on AIM stocks this year, partly because I intend to hold for 12 or 24 months to make the most of the tax breaks. However, it's easier to give into impatience in ISA held stocks, as there is no tax to consider. For that reason, I have missed out some big gains in the ISA in the last year, and I have no intention of adding MMC to that list of near misses!

My one caveat is that if this drops below 45/46, chartwise, it may not bode well.

[penpont] 17/3/2007 20:12

It might be worth checking the FT today - have just read on Citywire that they have an article on MMC headed:

'COMPANIES UK: Neglected recovery story in world of consultants'

[iandippie] 17/3/2007 08:30

Hi

Could someone more knowledgable in accounting procedures help me out here!

Rivaldo's post (428) details brokers forecasts as follows:

2006 2007
Broker Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Bridgewell Limited 19-01-07 OWGT 15.70 4.97 0.80 24.20 6.23 0.88
Panmure Gordon 19-01-07 BUY 15.10 4.88 0.85 22.80 5.53 0.96
Evolution Securities 18-12-06 BUY 14.63 4.44 0.90 21.60 5.15 0.95
ABN AMRO 18-12-06 BUY 15.65 5.03 0.84 23.78 6.04 0.88
Collins Stewart 07-08-06 BUY 4.80 5.90


And....

The results give eps for 2006 as follows:

Earnings per share - pence
From continuing operations
Basic 4.1
Diluted 4.1
Basic - excluding amortisation of
acquired intangible assets 4.6
Basic - excluding amortisation,
non-recurring and non-cash tax items 6.1


The question I have is when the brokers made those forecasts, which eps were they talking about for 2006? i.e. 4.1, 4.6 or 6.1?

Cheers
I.

[welsheagle] 12/3/2007 20:35

Evolution securities have reiterated their 'buy' recommendation, with a target price of 57p.

[scotswhaehae] 12/3/2007 12:44

These excellent underlying results and the positive forward statement should ensure strong earnings growth this year...

A share price north of 75p is fuly deserved imo...

Directors should certainly buy...they have done so at around current share prices before...

dyor but a great opporunity imo!

Good luck all!