Metnor Share Discussion Threads

[whipround] 09/1/2007 14:12

Those are figures look very conservative. And market makers are short of stock.

[qs9] 09/1/2007 13:37

What are direct sector comparable companies please? It would be useful to know if MTG is market rated or at a discount (on the growth in the forecasts above it looks cracking value, but always useful to get some benchmarks from peer group).

Thanks

[allstar4eva] 09/1/2007 12:29

OK still dirt cheap - and don't forget the cash!

[sheik yerbouti] 09/1/2007 11:43

Upgraded forecasts showing on Digital Look. PE of only 11 for this year, and look at the eps growth:

Forecasts
Year Ending Revenue (£m) Pre-tax (£m) EPS P/E PEG EPS Grth. Div Yield
31-Dec-06 82.30 6.70 31p 12.0 0.2 +52% 10.50p 2.8%
31-Dec-07 85.50 7.30 34p 11.0 0.2 +67% 11.50p 3.1%
31-Dec-08 130.00 9.00 41p 9.1 0.4 +21% 12.50p 3.4%

[allstar4eva] 09/1/2007 11:24

And still very cheap!

[chester] 09/1/2007 11:18

Up she goes...

[sheik yerbouti] 09/1/2007 10:48

Bit of a delayed reaction to the trading statement, but taking off nicely now.

[whipround] 04/1/2007 15:49

Sorry don't know, my broker just mentioned it in passing, Metnor just switched to Tethers as house broker so nice of them to give them a leg up, more to come I suspect in the next couple of weeks.

[mctmct] 04/1/2007 15:15

Whip: did Tethers give a target?

mct

[sheik yerbouti] 04/1/2007 10:45

Also some stock got cleared yesterday - looks like the overhang has gone, it hasn't taken much buying to move it up today.

[whipround] 04/1/2007 10:03

Buy reccomendation by Tethers may have helped

[allstar4eva] 21/12/2006 11:47

QS9,

Do you have the date of the forecast that put's this on a PE of 12.6? Was it before the recent trading update?

The other good thing is the profit figure that will be boosted by exceptionals - I know these should be ignored but any way you look at it PBT of £10m on a £52m market cap company is impressive!

[qs9] 21/12/2006 11:37

Looks very interesting: net cash to me is the key, protects the 3.3% yield and on p/e of 12.6 according to research I can see while showing double digit growth. I am in for New Year updates.

[whipround] 13/12/2006 09:12

As I understand it, the shares are still unbelievably cheap

[sheik yerbouti] 12/12/2006 08:21

Yep, I think there is a seller about at the moment, but once cleared these should move up pretty quick to about 450p. The trading statement was very bullish, and not just for this year: "the Board remains very confident of
continued strong growth over the next few years."

[allstar4eva] 12/12/2006 07:57

Either MTG is unbelievably cheap or I'm missing something.
Current year PE under 11, Strong growth and a over 25% of market cap in cash!

[whipround] 07/12/2006 10:11

Is this the new mtg site now? Certainly better with the charts. All pointing in the right direction. A ststement from Volvo would be nice.

[chester] 07/12/2006 09:19

SY - I'm only recently in here, got in mid November around 315p but certainly very happy with this mornings statement. Welcome Gorse.

[gorse] 07/12/2006 09:10

I bought on those results. Held these a few years ago ... now they are looking very strong.

[sheik yerbouti] 07/12/2006 09:06

Seems to be just you and me chester - which is hard to believe since profits are going to be over 30% above expectations!

[chester] 07/12/2006 09:02

Thanks for starting a new thread.

[sheik yerbouti] 07/12/2006 08:27

Forecasts are going to get smashed.

Year Ending Revenue (£m) Pre-tax (£m) EPS P/E PEG EPS Grth. Div Yield

31-Dec-05 78.87 4.44 20.40p 10.7 0.3 +32% 9.40p 4.3%
31-Dec-06 74.00 5.00 24.62p 13.1 0.6 +21% 10.25p 3.2%
31-Dec-07 79.50 5.70 26.27p 12.3 1.8 +7% 10.93p 3.4%

[sheik yerbouti] 07/12/2006 08:12

Started new thread as there aren't any charts:

[sheik yerbouti] 07/12/2006 08:11

RNS Number:4101N
Metnor Group PLC
07 December 2006



For Immediate Release 7 December 2006


Metnor Group plc
("Metnor" or "the Group")

Trading Update/Disposal of Poole Development



Disposal of Poole Development

Metnor, the property development and construction company, is pleased to
announce that it has completed the sale of its residential property development
site in Poole, Dorset, for a cash consideration of #19 million.

The site was acquired in June 2003 and has been sold to a specialist residential
developer to enable the Group to focus its resources on its expanding portfolio
of developments within the healthcare and education sectors where good progress
is being made. The transaction realised a net profit of #1.8 million, which was
approximately #500,000 higher than management expectations and, after settlement
of related bank loans and sales costs, has resulted in a net cash inflow of #5.6
million.

The disposal, together with the recent sale of Metnor Galvanizing for #9.7
million, increases Metnor's net cash position on its balance sheet to #14
million which will fund further acquisitions of development sites. This cash
position is stated after investing approximately #9 million in five freehold
properties/ development sites.


Trading Update

In addition to the disposals, all of Metnor's other business divisions are
trading significantly above management expectations. Consequently, the Board
believes that the Group will deliver pre-tax profits for the current financial
year of not less than #6.6m*, significantly exceeding the consensus market
forecast. After accounting for the exceptional profit made on the sale of
Metnor Galvanizing, the Group anticipates a profit before tax for the year in
excess of #10 million.

Commenting on the disposal of the Poole residential development and the trading
update, Stephen Rankin, Chief Executive Officer, stated:

"The disposals achieved this year give Metnor and its shareholders a
significantly strengthened balance sheet and a strong foundation to rapidly grow
its healthcare and education businesses. The current year's financial
performance is pleasing, particularly in view of the transition we have been
through in creating a highly focused property business.

"We now have a very strong pipeline of developments for 2007 and beyond and,
with this visibility of future earnings, the Board remains very confident of
continued strong growth over the next few years."

* Pre-goodwill