Mice Group Share Discussion Threads

[thistimenextyear] 18/11/2006 14:18

Be interested to hear what others think the interim results will show:

Remember, the full year results released on 17th May 2006 showed:
- sharp rise in profit before tax and exceptionals for the year to February 28th to £8.8m from £4.9m after a strong second half performance.
- after exceptional charges, the group incurred a pretax loss for the year of £6.3m compared with a loss of £2.8m.
- revenue of £184.97m, up from £179.85m, were in line with expectations.
- positive cash inflow from operations compared to outflow in prior period
- Net debt reduced to £44.1m (FY2005: £56.7m)
- stated its consolidation and rationalisation programme is now largely complete and no further costs are expected.
- stated that its order book is strong and the outlook is encouraging for the new financial year.
- a final dividend of 0.75p was declared for a total payout of 1p, up from 0.75p in 2005.


Remember the consolidation and rationalisation programme that commenced post the fund raising at the start of the financial year is now largely complete and beginning to deliver results with improvements in cash flow, debt reduction and margins.

To me this is what is critical that we strong signs in improvement in
- cash flow (generate cash from operations) I am looking for cash flow to return to +ve at approx 4p per share for the full year after being -16p per share in 2005, and -0.3p per share in 2006.
- debt reduction (then use cash to reduce debt) I am looking for another 8m GBP to be paid off for the total year, leaving debt of approx 36m at year end in Feb 2007.
- margins (improving margins, with bottom line
profitability a more important measure of success than top line revenue growth). Looking for 9m GBP profit for full year.



On the 20 September 2006, MICE Group delivered a Pre Close Period Trading Update ahead of its close period in respect of the six months ended 31 August 2006. The Group plans to announce its interim results in late November 2006.
Overall trading in the first half, traditionally the Group's weaker half, has
been in line with expectations with good performances across the Group's three
divisions.
The order book continues to grow and the pipeline of opportunities continues to
strengthen, reflecting the benefits of a more focused business offering targeted at building on MICE's strengths in the experiential marketing sector.
During the period, the Group has been successful in building its business with
both new and existing customers in its domestic and international markets. In
particular, in the Middle East, a region of growing importance to MICE.
The outlook for the full year remains encouraging and the Board expects to make
steady and sustainable progress in line with its expectations at the time of the Preliminary Results in May 2007.


Should be an exciting week if the results are good. Looking to see evidence of the strategy coming good as this should be the first indicators now we have largely completed the consolidation & rationalisation programme and we should have no more exceptional costs in this regards. Fingers crossed. Chart looks very promising as well.

Hoping to see the share price pushing past 50p within the next week or two if recovery is firmly on track, and then on its way to 70p thereafter.

Good luck all.

TTNY

[rivaldo] 18/11/2006 10:17

More new news here. I'll have to investigate "experiential" marketing (terrible Americanised term!) to find out what on earth it is - sound slike MEG are in the forefront anyway.

I'm thinking more and more about that Dubai contract win. Sounds absolutely fantastic. I wonder if MEG will play on it in this week's results?



"PRESS RELEASE 17.11.06
EVENTS:review talks to MICE to find out if the experiential sector can make it count
Experiential is increasingly seen as one of the most important and effective marketing activities, according to the findings of a survey by marketing services company MICE Group. But the research also identifies that confusion and lack of training in the discipline are preventing it reaching its full potential.

Live marketing website and IPTV channel EVENTS:review has turned to MICE and
the rest of the live marketing industry to investigate this further.
The survey report, entitled 'Experiential Marketing; It Works', predicts that the discipline will be the biggest growth area within the marketing mix in the next five years, but respondents also highlight a number of areas where marketers are struggling.

Other areas of concern include experiential techniques being expensive to
implement and needing strong commitment in terms of resources, time, logistics and management. Experiential marketing is also seen by companies as difficult to control and measure and this is detracting from its wider use.
Through a video interview with MICE's creative director John Young and a series of revealing weekly articles, featuring other leading industry figures, EVENTS:review reveals how the live marketing industry is facing up to the challenge.

View John Young's interview at:
Simon Burton, managing director of Exposure Event Creation, organiser of the
Exhibitor Show, comments: "I personally think the measurement issue is a red
herring. Live marketing is no more challenging to measure than any other type of marketing." Taking another agency perspective, RPM's Hugh Robertson says
measurement is not just a live marketing problem. "As traditional media fragments and the number of channels continue to proliferate, evaluation is now a key issue across the entire marketing industry not just the experiential sector," he says.

Meanwhile the Event Industry Alliance's Tom Treverton believes: "The industry
needs to continue to recognise and communicate that its marketing offering is
powerful, effective and, most importantly, unique.""

[scburbs] 17/11/2006 13:28

Nice contract news. Thanks Rivaldo. I think I will be topping up soon.

[eugene1234] 17/11/2006 10:57

rivaldo -Thanks for that, very good.

[rivaldo] 17/11/2006 10:24

MEG have £185m of annual turnover, so this new $5.5m win doesn't have to be announced under the class tests.

Mind you, if you include the linked $25.5m win from earlier in 2006 mentioned above you're getting pretty close to the 10% limit which necessitates an RNS. Or is the the value of the contract not what represents MEG's turnover for the deal?

The significance lies mainly in the kudos and the opportunities this business opens up in the region - but both these contracts together are prety significant financially. You'd have thought it might merit an RNS Reach service announcement at least?

Augurs well for the results next week anyway.

[eugene1234] 17/11/2006 09:10

Why was this not released via rns?

[rivaldo] 16/11/2006 21:55

Wow - this sounds prestigious and a bit of a coup for MEG. Could well lead to a lot more work in the region too - they say there's more in the pipeline:



"PRESS RELEASE 14.11.06
MICE Kraftwork to fit out Middle East's most exclusive resort suites

The two most exclusive hotel resort suites in the Middle East will be fitted out by MICE Kraftwork as part of a new $5.5 million contract awarded to the company last month. MICE Kraftwork, an investment of MICE Group Plc, will be fitting out a total of seven suites at Atlantis, The Palm - the largest resort development currently underway in the region.

The contract was awarded to the company and its joint venture partner, LCL
Interiors, by Kerzner International, which with 50:50 partner, Dubai Investment
house, Istithmar, is building Atlantis, The Palm on the Crescent of the largest manmade island in the world, The Palm Jumeirah.

Once completed, the $1.5 billion project will comprise the main hotel, an
entertainment village with several celebrity dining experiences and speciality
restaurants; a forty-two acre waterscape with water slides, rivers and rapids and a world class conference wing.

In addition to the resort's 10,000 square foot exclusive 'Bridge Suite', MICE
Kraftwork will be also be fitting out two 'Presidential Suites', two 'Royal Suites' and two 'Dig Suites'. US-based Wilson & Associates is the project designer.

This project is the second to have been won by Dubai-based MICE Kraftwork and
follows a $25.5 million contract awarded earlier in the year that comprises fitting out the remaining 1,532 hotel rooms at the Resort. The company will be completing both contracts by the end of 2007.

MICE Kraftwork has also tendered to fit out the clubs, lounges and restaurants at
Atlantis, The Palm, which includes the renowned Japanese restaurant 'Nobu'. A
decision on these contracts is expected later in the year.

Commenting on the contract wins, MICE Kraftwork business development director,
Laurent de Morelos, said: "Our work with Kerzner International on Atlantis, The
Palm is highly significant for our company, not just in terms of the scale and
complexity, but also the high standards of craftsmanship that will be demanded of us.

"These prestigious contracts, along with other projects in the pipeline, demonstrate
our company's determination to be one of the leading commercial interiors
designers and fit-out companies in the Middle East region.""

[chef] 16/11/2006 19:14

Verger some are buys and some sells. business has been done at this level in the stock

[rivaldo] 16/11/2006 18:13

Yep, the volume came through in a big way! Good to get the sellers out of the way now - when the results are out any subsequent rise will be that much easier.

[verger] 16/11/2006 16:40

What a funny day. OK, I'll be the first to comment on the BUYS/SELLS today.To have this level of sells with only a small share price fall suggests that the mms knew that these were coming, and they have held the share price down to let them through. This could be a good sign.

[verger] 16/11/2006 15:26

And now a trade sell of 800,000 shares at 40.5p. Once more, huge amounts of shares move about without any effect on the sp, and with no clue as to what is going on. Will only results day will give us the answer?

[adorling] 16/11/2006 12:31

Not happy with this drift down just ahead of next weeks results.

[rivaldo] 16/11/2006 12:28

Verger, today's drop is on very low volumes so not a problem imo. The chart looks great to my amateur eyes, holding above previous highs having advanced very nicely indeed.

As you say, plenty of time for last-minute buying after the weekend and before next Wednesday. I believe half-decent results as per all the signals (including a series of director buys) should cause a decent re-rating.

[verger] 16/11/2006 10:17

Very quiet build up to results. Have we already had the pre-results rise? Are the mms and institutions keeping a lid on this for their own benefit? Is it that no-one knows what to expect? Will there be a rush of buying on Monday & Tuesday? Any ideas?

[thistimenextyear] 13/11/2006 23:42

Fingers - on holiday in Fuerteventura enjoying some hot sunshine and a welcome break away from work. Many thanks for your technical analysis. Your thoughts are similar to mine from both a TA and fundamentals on this one. Keep up the great work!

TTNY

[rivaldo] 13/11/2006 13:25

Results only nine days away now. Many thx for the chart info fingers - we know the results will be just fine, so hopefully a push above 45p will lead us into a new price range up to 65p as you say.

[norfolkdumpling2] 13/11/2006 09:57

Fingers - many thanks. It has been a long wait and has tried my patience over the last 2 years. Having mentally writen my whole investment off some time ago I am begining to believe it may yet come right.

[adorling] 12/11/2006 20:49

Nice one fingers - thank you. Results on 22nd Nov will hopefully give us some new optimism for a move through 50p. Interesting late T-trade on Friday at close for 250,000 shares at 42.0

[chef] 11/11/2006 11:50

I thought you would have wanted to chin me one mate ;)

[norfolkdumpling2] 11/11/2006 11:40

Have been away for a couple of months. Very pleasing to see the recovery and also the renewed intelligent postings from all of you.

Especially delighted to see my old friend Chef back in again.

[scburbs] 10/11/2006 15:15

Rivaldo, Thanks. Looks like a good percentage of institutional investment compared to other companies of a similar size.

[verger] 10/11/2006 14:48

WEDNESDAY NOV 22
First-half trading at Mice Group PLC, an international marketing services
group, is in line with expectations.
In the first half, traditionally the group's weaker half, it has seen good
performances across the group's three divisions.
The order book continues to grow and the pipeline of opportunities continues
to strengthen, the group said in its September update .
It added that the outlook for the full year remains encouraging and the board
expects to make steady and sustainable progress in line with its expectations at
the time of the full year results in May.
Evolution's Hector Forsythe forecasts interim pretax profits of 2.3 mln stg,
up from 1.9 mln.

[rivaldo] 10/11/2006 12:54

Nice to see the 15k buyer paying the full 43p offer.

Scburbs, as of this morning:

"HSBC Holdings PLC 26,574,957 15.12
AXA Investment Managers UK Ltd 24,573,644 13.98
GAM London Ltd 13,875,022 7.89
Platinum Investment Trust PLC 6,000,000 3.41

Other Directors Amount % Holding
James Richard Curley • N 3,140,295 1.790
James Richard Curley • 2,263,728 1.290
John William Moxon • 1,000,000 0.570
John Billington • 413,071 0.235
Geoffrey Geoff Howard-Spink • 377,000 0.210
George Dorr • 40,000 0.023
Alison Leyshon • 28,735 0.016
Tony Timberlake • 20,000 0.011
Trevor Wall • 19,000 0.011
Brian Shepherd • 19,000 0.011"