Morse Share Discussion Threads

[togglebrush] 24/8/2006 17:16

Strong price uplift today ... results due on 30th August.

[liquidkid] 10/8/2006 14:59

MOR didn't release this as an RNS but lots of opportunity for growth here...


August 8 2006 Chessington, Surrey, UK; Distributor Bell Microproducts has aligned its strengths in the security market with leading technology integration and services company Morse to deliver an extensive range of security products and consultancy expertise to the UK market.

By focusing on specific vendors RSA Security and SecureComputing, the partnership will deliver comprehensive solutions covering perimeter, content security, authentication, consultancy and support, allowing Morse to provide its customers with leading technology which meet individual IT security needs.

"This is about Bell Microproducts and Morse combining their expertise to best service the Enterprise market with security products and services. As a major player in the security market Bell Microproducts is delighted to lend its expertise to this joint effort alongside such great companies as Morse, RSA Security and Secure Computing. Our efforts, combined with the forces of a major integrator like Morse and based on the reputations of RSA Security and Secure Computing mean that users can depend on us for the best products backed by total market and technology expertise. We have set ourselves ambitious targets and all parties are committed to the partnership and are determined to deliver significant growth over the next 12 months," said Duncan Hume, Manager, OpenPSL Security Practice, Bell Microproducts.

[togglebrush] 10/8/2006 08:27

Quite a spike yesterday ... up from 86.5p to 95. Results are due on the 30th of this month. Has anyone an idea why it spiked???

[haribo1] 25/7/2006 21:36

Good news - they've sold the German and Austrian operations. Should go up again from here

[pbracken] 24/5/2006 06:46

I'm not trying to fool anyone. I don't know why you view my comments as some kind of attack on MOR or you or both.

ITO was never in danger of going under, even though it has never made a profit since its flotation on AIM. It generates cash sufficient to service its debt whilst it moves into profitability. The market is disappointed that that hasn't happened earlier, but many young companies find themselves in similar positions.

ITO is a good business, and its managed services division has the growth potential to support a healthy forward p/e. Like I say, if ITO comfirms the progress it highlighted in the last market update, the share price will spike higher.

You are at liberty to disagree, of course, and if ITO advises caution on the current FY then you will have been right not to Buy the stock. On verra, as the French say.

[she-ra] 23/5/2006 23:00

No,Intechnology rose because they sold off a part of the business which meant they were less likely to go under.Take a good long look at the Intechnology three year chart.Its a company that hasnt made a profit for 5 years.

Investors do actually look at the past as a guide for the future.Ever heard of charting?Also would you think a dot com company with £5 million revenue could be worth £1 billion nowadays or would investors be more likely to favour a bricks and mortar operation where £1 billion revenues matched £1 billion Mkt Cap?

You stick confidently with Intechnology which only rose because investors thought they were being stalked for a full scale takeover when in reality they were only attractive for a cherry picker to come along when Intechnology was financially vulnerable.

Please,please dont try and fool us,of course investors look at the past, accompanied of course with future market expectations.

[pbracken] 23/5/2006 22:34

Look she-ra, just get back in your box for a moment.

You asked me the source of the consensus figures and I provided them, and added a bit of extra info. There was no sinister motive behind my post.

As for your remark about investments being about the past, I think you might reconsider your comment. As someone once said of an equally silly remark, 'sir, you've just eaten a cow.'

Valuations primarily reflect future income streams, discounted for risk. That's why stocks can fall on good results when outlook statements are cautious. And it's precisely why MOR has fallen 25% in a week.

It's also why ITO has risen 35% from its recent low. The market is pricing in improved future performance.

I have no problem with MOR. I think it is an interesting company with excellent prospects. I will very likely go Long at some point. But I prefer to see how the dust settles after a profits warning - because it normally settles lower than expected.

Anyway, we'll see how things pan out soon enough. ITO report in a few weeks. If Wilkinson confirms that the outlook for profitability is in line with current market expectations, ITO will rise substantially. And the market won't give a flying fig about last year, even if you do....

[she-ra] 23/5/2006 17:57

pbracken - Brokers usually have ulterior motives for recommending sells and buys.Did you not learn about what brokers were upto during the dotcom boom and bust?Putting out buy recommendations and getting on the phones to their mates and tell telling them its time to sell.

If you want an example of how wrong brokers get it take a look at M&S when there was a consensus from the brokers to sell at just over 150p.Now look at M&S.Or better still what about Somerfield when it hit 55p and brokers were saying sell.Went up 500%.

You say dont look at the past but surely that is what investing is about.ITO hasnt made an operating profit both at the full year or interim stage.Are we really supposed to take you seriously?Morse is a profitable company.Intechnology isnt and probably wont be in the next results.

You say you dont like Morse's last profit warning and that it puts you off.Now am I wrong in thinking that Intechnology has consistently been warning?Didnt revenues slump?Didnt they miss expectations on numerous occassions?Didnt Morse warn on an operation that accounts for less than 25% of group revenues and that hasnt been adding much to the profit that Morse has been making?

I think you need to take some of your own advice and dump ITO.

You have documented that you want to get in in the 60's.You maybe being greedy.A takeover is a distinct possibility.Well run companies such as Morse with an iron in the next big thing hardly sit around on their own for long

[pbracken] 23/5/2006 16:49

These are Broker forecasts and are summarised on Proquote, the LSE's on-line trading platform.

You might wish to know, too, that MOR is rated 'Hold' or 'Sell' by most brokers (except Investec), whereas ITO is rated a 'Buy' by everyone.

I don't agree that MOR is a 'Sell'; indeed, I like the company but the recent profits warning is another kick in the teeth, and contrasts with the rather more bullish outlook from ITO.

I say again - I am not looking backwards (as you appear to be), but anticipating a major reversal of fortunes at ITO (as the mkt appears to endorse).

[she-ra] 23/5/2006 15:42

ITO hasnt made a full year or interim operating profit for the last 5 years.
Who are giving these figures, are they ITO brokers, are they shareholders?

Morse made an operating profit.When was the last time ITO made an operating profit?
Morse have joint partnered with Link for Monilink which is about to become a cash cow.

Didnt ITO recently have to sell off a part of the business to survive?

[pbracken] 23/5/2006 14:42

Consensus forecasts for 2007: ITO £11m pre tax, mkt cap c£55m; MOR £11.5m pre tax, mkt cap c£120m. Even allowing for the cash (and ITO's debt of £6m), MOR is trading on an 80% premium to ITO's forward p/e.

That's why I think ITO is better value.

Incidentally, I'm assuming we're basing our assessments on future - not past -earnings.

[she-ra] 23/5/2006 12:59

ITO has debt and never manages to make a profit.
Morse on the otherhand is a profitable company,cash rich and is a joint venture partner in a product that is highly attractive to bank customer in the UK and all over the world.

You get LloydsTSB or RBS taking up Monilink and I think you will miss out.Ive just got in and cant believe at such a low price or that the market isnt aware of its past performance or hidden value.

[pbracken] 23/5/2006 08:38

The site is wrong - MOR is cash rich. Also, the market reaction is not a little overdone, which perhaps is understandable given the wider equity picture.

I'm not a holder but would fancy a dabble if MOR dropped to the mid 60ps, which it might do over the next month or so.

ITO will publish its FY results in early/mid June - and I think it offers better value just now.

[bracke] 21/5/2006 11:42

haribol - I do not understand the 'zero debt' According to the information on this site Net Debt is £136.14 Million?????

[togglebrush] 10/4/2006 13:23

Product was live, but marketing is down to individual banks as per Preliminary Results. This is the banks first marketing ploy.

[liquidkid] 10/4/2006 11:40

Does this mean it is delayed? They were talking of going live March/this spring

[togglebrush] 10/4/2006 11:27

mobileATM Announcement Morse PLC 10 April 2006

10 April 2006

Morse welcomes HSBC announcement regarding mobileATMTM's MoniLink network

Morse plc ("Morse" or "the Group"), the consulting, technology and support
company, welcomes the announcement today from HSBC Bank plc that HSBC and First
Direct will be the first banks to offer customers the next generation of mobile
phone banking later this year, when their services go live on the MoniLink
network. MoniLink is the secure mobile banking network developed by mobileATM
TM, Morse's joint venture with LINK Interchange Network.

Commenting on the announcement, Duncan McIntyre, Chief Executive of Morse, said:

"mobileATMTM continues to develop well and we are very pleased to see this
announcement from HSBC, one of the worlds largest banks, which is bringing the
MoniLink service to its customers. Our business model is an inclusive one which
involves the service being used by multiple banks and we are delighted by not
only HSBC's exciting announcement, but also by the increasing levels of activity
and interest from other banks.

We are also encouraged by the progress of our international franchise model and
have a number of partners interested in developing equivalent networks to
MoniLink in their local territory, as well as the increasing interest in using
second factor authentication over the mobile device in the broader commercial

[mryesyes] 08/4/2006 18:39

PHILIP COLL DIRECTOR IS EITHER WRONG TO BUY 150 GRAND WORTH OR HE ISN'T
TEMPTS ME

[togglebrush] 01/3/2006 08:58

Morse results out 1st March ... Profit up Divi Up and notes on mobileATM below

"mobileATM(TM) is a joint venture with LINK Interchange Network and continues to develop well. It is being integrated into the first wave of UK banks and building societies, which will provide it as a service under their own brands. The first user group was held in February and was well supported. The first version of the system which will allow banking transactions, balance enquiries, mini-statements and mobile top-ups, to be performed direct from the user's mobile telephone is on track to be available to our banking customers this Spring. The consumer launch will then be conducted by the banks.

mobileATM(TM) is the culmination of two-and-a-half years of intensive
development and represents an excellent example of successful intellectual
property development, broadening the range of services we offer and ensuring we are well-placed to take advantage of the opportunities presented by the emerging mobile commerce market.

We believe there is a substantial overseas opportunity and we agreed with LINK
in October that the development structure for overseas opportunities should be
owned 85% by Morse and 15% by LINK. Morse will also own all intellectual
property and development resources. We have developed a franchise model for the
international operations and are excited by the pipeline of opportunities that
have already been created.

The market is developing rapidly and we are moving to respond appropriately."

Looking Good

[togglebrush] 14/2/2006 09:56

My notes show results due 23rd February which should enlighten us!

Now 1st March 2006

[the shuffle man] 31/1/2006 15:20

There was an article in the Sunday Times talking about the potential of Mobile ATM. Does anyone know what terms the joint venture agreement is between Morse and Mobile ATM.

The potential here seems to be huge.

Comments please

[togglebrush] 31/1/2006 09:30

North again today... anyone have an insight as to why ... or news of the mobile phone banking ???

[liquidkid] 20/1/2006 15:43

Computercenter making positive noises this week about trading in December particuarly in enterprise. This could explain the additional working capital requirement Morse announced in November. They normally release a trading statement late Jan.