Morse Share Discussion Threads

[mrtakcheung] 04/3/2010 13:33

6m/e 31/12/09 PBT £4.1m (~double that 2008).
Net cash £13.6m (~£10m more than 2008).
So why is the market cap merely £48.4m and falling?

[darola] 04/3/2010 11:41

Either somehting is a foot, or this is now at oversold....

Hopefully a bounce is on the cards.

[mickieblue] 25/2/2010 23:14

seems like it, i sold my £4700 this morning, its like watching paint dry. If anyone interested check out PPA, its going to rocket in the next 2 weeks. Not a ramp as im not selling for atleast a year.

[tom.b] 25/2/2010 08:42

55 - 60p is the value but bid rumours seem to have died away and it looks like we are in the doldrums indefinetly - or does anyone have an update?

[chillwill] 10/2/2010 18:30

Hmm, generally companies with cash piles are good takeover targets and with MOR having around 25% of their market cap as cold hard cash it fits the bill.

But then again, I'd want a decent price for my shares as the company makes £4.1 million before adjustments at the interims with MCAP of 55m.

Agree with Robbie Burns (posted on his site today), 55-60p is fair value... maybe more with a bid rumour & strong markets, although we may have to wait a while to see the return of those... hopefully with the ftse 100 being volatile people will start looking down the chain at the value and not speculation.

wcjan... agreed on the margins, they could do with some work, although they're actually above the ftse sectore according to the times online (on previous results)

[wcjan26] 10/2/2010 09:00

looks like MOR has stabilised

if they can double their margins, it might look like a decent business

[mickieblue] 10/2/2010 08:54

Might get some more news this week. Looking back to their past history of results, more news appears after within a week.

[tom.b] 10/2/2010 08:16

Bid due anytime now......

[andyh21] 10/2/2010 08:04

yeh...I'm pretty pleased with these too! at least it shows the price isn't just being proped up by a potential bid!! It does in my opinion have to continue the organic growth to sustain an ongoing rise!

[mickieblue] 10/2/2010 07:10

awesome results.

[tom.b] 09/2/2010 08:40

Tomorrow, tomorrow I'll love ya tomorrow - you're only a day away..

[tom.b] 05/2/2010 15:51

I thought we were away with it earlier...drat! looks like next week should see some action anyway.. good luck to all who hold..

[mickieblue] 04/2/2010 13:58

DOH!

Further details will be provided in the interim results statement for the six
months to 31 December 2009 to be announced on 10 February 2009.

[andyh21] 04/2/2010 08:17

have you read the trading update under the chart?

[mickieblue] 04/2/2010 08:12

When are the results out?

[she-ra] 31/1/2010 12:43

ChillWill - Thats ignoring that it has around £14 million in cash and that it is on its way to a recovery.Back in 2007 the share hovered around 120p and that was before a share consolidation.

Of course Morse is expected to make a EBIT of £6.8 million for the year rather than the £12.5 million it achieved in 2007 but this is occuring during difficult economic times.I think most shareholders will want Morse to get back to those former times.Im just not so sure whether the directors interests are fully alligned with those of the investors who have been holding since 2007.IMO I think they are probably more interested in a cheap buyout where they can realise the value of their significant share options and be happy bunnies just as Gartmore will be.

On Thursday I saw just over 1 million shares sold which I suspect was from the same seller.I hope it wasnt by one of those directors who bought on the cheap when their silence was deafening during the massive share price collapse (im sure there should have been an RNS as to why there were such dramatic falls on a few occassions - I might be wrong?).If it was the case that a director sold it would confirm to me that their interests are no longer alligned with those that want to see a complete recovery in Morse's fortunes in its share price and as a listed company.

There's been a lot of rumour surrounding Morse and I wonder who has been feeding the journalists with information.

[chillwill] 30/1/2010 17:19

Plenty of support from the bottom of the trend and 50&100 day moving averages.

Forecast to be on a PE of 8.5 dropping to 7.5 the year after. Think the 55p rumour floating around would put the PE at 11.3 if they get expected EPS of 4.88p. Hardly an expensive purchase, i'd say that was fair value and adding a a premium for takeover of 20% would make 66p more sensible takeover price. That would mean paying £85m for a company expecting pretax of £10m+ to be met soon.

ofcourse if a bid came through very soon, they wouldn't pay 60% premium on the share price as it is, but it's just an idea toward my idea of possible valuations.

[darola] 26/1/2010 15:03

Could be good timing! : )

[darola] 25/1/2010 15:16

I'm in - promising statement, and with a buyer possibly hovering the potential upside v downside makes it worth the buy....

[she-ra] 14/1/2010 12:52

Why hasnt the housebroker commented on the trading statement?
They usually do.

[tom.b] 14/1/2010 09:34

I am advised that things are on track... good luck to all who hold..

[she-ra] 13/1/2010 14:55

Interesting that Investec havent commented on Morse's trading update.
Does that mean something is going on and the director's are selling the company off to secure their financial future having let Morse for what seems drop as far as possible so that they could buy on the cheap?

They never commented on the dramatic falls when im sure they were supposed to.Maybe someone can correct me on that.

[tom.b] 13/1/2010 13:50

I see Supporta (SOR) got their deal done today - so I expect Morse's 55p is imminient .. I'd heard 2nd week in Jan so I guess we'll have to be patient - but I do wish they'd go on with it. Good Luck to all who hold...

[mickieblue] 12/1/2010 11:13

Back in August Morse wanted atleast 50p, so hopefully offers will start rolling in