Ms Share Discussion Threads

[diogenesj] 26/6/2006 18:30

Oops, sorry, quite right, xd.

[cambium] 26/6/2006 17:10

unlucky Aussies!!

[rivaldo] 26/6/2006 16:58

Bloody lucky Italians!

OT : Ian, I'm also into MEG and PKW in my ISAs (and of course MSI!), but have a look at BOI - like PKW and MEG it's on a single-figure P/E going forward, just 8.8, it's been making acquisitions and winning contracts and it's been tipped by an FT columnist and elsewhere, so should get decent coverage. Much upside and little downside imo.

[xdavid] 26/6/2006 16:57

Not ISA'ble DiogenesJ

[xdavid] 26/6/2006 16:49

bjs38 - "I have looked back at companies results going back ten years, and revenues are almost at historical highs. The company has usually had two or three good years and then big falls in revenue.

My question is what makes this run up different from all the gyrations the company has experienced before? Is this a company that can grow nicely at 20%-50% or just a cyclical in which case perhaps there is little benefit left?"

Fair question I guess although I didn't find any need to go back further than 2002 results report myself since this is not the 'same' company as 10 years ago. I got the impression that MSI became a 'restructured' company in 2002 (others should read the reports from thereon to get the story) and were impressively maintaining that turnaround. It's been a steady increase in all figures since. That, along with the accompanying 'storyline' sold it for me some time back.

By 'storyline' I mean that I create a timeline going back several years (but not as much as 10!), put on it things like director buys etc, and then read a whole sequence of annual reports and interims in one go, refering back to the timeline as I go for the 'fillers' in between the reports. That and a colder look at the figures make up my mind for me - MSI was one of those "once in a blue-moon", hit you on the head ones for me.

Obviously, as each year goes by, the answer to your question will be more apparent. That was what I alluded to in my earlier post about needing another couple of years before the 'big boys' have the faith to come on board. Until then, we PIs have the upper hand.

[diogenesj] 26/6/2006 16:31

DEBT looks a good bet to me too, Ian.

[iandippie] 26/6/2006 15:55

MACF look a safe bet for modest growth (director dealings alerted me to them). Good dividend too. PKW look exciting. Could enhance margins dramatically (then again, they may not!), but risk/reward looks good. Beyond that, nothing leaps out. Anyone into MEG??

[iandippie] 26/6/2006 15:31

Cheers CR. Been in CHTR since early 400ish, when the directors were filling boots. Still holding for more. :-)

[bjs38] 26/6/2006 15:23

I have looked back at companies results going back ten years, and revenues are almost at historical highs. The company has usualy had two or three good years and then big falls in revenue.

My question is what makes this run up different from all the gyrations the company has experienced before? Is this a company that can grow nicely at 20%-50% or just a cyclical in which case perhaps there is little benefit left?

[cockneyrebel] 26/6/2006 15:22

CHTR - the number 2 isable stock perhaps?

Very cheap, trading ahead of expectations, can't be on a forward PE of more than 12, the lowest of a FTSE250 stock I can think of. No debt and 6 brokers with a buy rec, one with an add. Could be a belter still imo - and very liquid.

CR

[xdavid] 26/6/2006 14:51

Anyone know where that BB is he's talking about? Sounds good! ;-)

[iandippie] 26/6/2006 14:49

A big thankyou to CR, et al, for bringing MSI to my attention via the SMC board. I posted a cheeky request on the SMC board many moons ago, asking if there was an equally undervalued stock that was ISAble. I think at least about four of you mentioned MSI!

Once again, cheers. :-)

P.S. So, if MSI is the best ISAble stock, what's the no. 2 best ISAble stock?

[xdavid] 26/6/2006 14:48

My first reaction was, "Oh NO! There goes the neighbourhood!" - I really liked this nice quiet backwater ;-)

"I would expect a statement any day now..." ...that'll be the Final Results, then? To all new visitors, probably sometime this week, my bets on Friday.

[gswredland] 26/6/2006 14:32

Been tipped by frequenttrader this afternoon.

[iandippie] 26/6/2006 13:29

Oi, stop going up! I was looking to top up after results!

[rivaldo] 26/6/2006 12:49

Now even hornier! Nice buy of 2.5k shares at 190p, 2p over the offer price...

[gswredland] 26/6/2006 12:14

That chart is looking horny!

[xdavid] 26/6/2006 10:56

After reflection, Rivaldo, yes, I think you are correct - the various forward statements in the results do comprise trading notifications and so would need revised if unduly now in error (however, that has never stopped some companies from not doing so!)

I particularly enjoyed rereading the Chairman's Statement in the interims. After putting in a 54% growth on previous years same period, he states, "The board remain cautiously optimistic that the levels of trading will continue through the remainder of the year."

EDIT: damn, that's just what you said, Rivaldo! Never mind, it was so good we quoted it twice :-)

[onlyonestorm] 26/6/2006 10:04

Wish I had some more free cash for some more!!

Stormy

[rivaldo] 26/6/2006 09:42

Xdavid, you're absolutely right in that there are no "market expectations" to be beaten or missed. But MSI did say in the interims in their characteristically modest way "The Board remains cautiously optimistic that the levels of trading will continue through the remainder of the year." I think therefore that if anything had changed materially from that statement that MSI would have been obliged to say something to the market.

Given that since the interim date there's been nowt except a company share buy-back I'd hope that the "escalating levels of activity" they previously talked about have continued.

[xdavid] 26/6/2006 09:25

Come on now, lads, lets not turn this into a Portugal-Sweden game :-)

"Is MSI this years screaming buy?"

Well it certainly was in 2004.

And 2005...

And...

[cockneyrebel] 26/6/2006 09:22

criticism is fine imo.

I'd prefer more info from the company myself but it's not an ideal world and would I prefer an extra 1p eps than the info? I'd have to say yes. Noting wasted on trival RNS statements telling us the CEO has scratched his Rs, or fancy web sites telling us other triva that require design and maintenance.

If MSI were delivering mediocre performance under those conditions then I think I'd be less than happy with little news but when they deliver 100% growth pa, year on year then it ain't broken, so don't fix it imo.

CR