Ms Share Discussion Threads

[spiritbear] 27/11/2006 10:19

If Robbie Burns decides to sell (part), his followers may sell as well. So share price may still fall.

[a3477681] 27/11/2006 10:14

Now my trade comes in showed as a buy on an .m.o.n.e.y.a.m. I expect Rivaldo's to be the 3600@190 07::58:04. So they delayed showing them until they look like buys. hmmm!

[gswredland] 27/11/2006 10:01

Yes must admit growth is disappointing and i sold mine abut half an hour ago.Don't like the 'cautious optimism' in the statement either.

[uncleoswald] 27/11/2006 09:46

These results are disappointing.
For several years the profits and shares grew at 100% per year.
Three consecutive 6 month periods where earnings are flat around 7.5p.
End of the growth story.
Time to get out.

[a3477681] 27/11/2006 09:19

You certainly need patience with this one. Like the company though I decided to be cautious and sold my holding of 4k@178 but I am interested to see the sale has not been recorded at 8:06:46. I have been caught too often. I hope to buy back when the time seems right.

[rivaldo] 27/11/2006 08:18

A little disappointing. I was fortunate enough to top-slice some on the open at the high. But the markdown now is savage - at 174p the P/E is only 10.7 assuming MSI only double up H1 earnings, and MSI still have plenty of cash.

The cash pile is being spent on capital investment - which knowing MSI management's cautious stance is unlikely to be being spent for no reason. At present I'm happy to hold the balance for what could still be serious growth.

If the price slips further we might get more share buy-backs - the last one was at 146.5p.

[onlyonestorm] 27/11/2006 08:17

Well, I as you all know I was hopefull of £2 by Friday, we may have to wait quite a few Fridays time now!! As for the £2.20, well!!!!!!

Stormy

A bit oversold at present though!! IMO.

[njp] 27/11/2006 08:13

Stormy

When have they ever been less than cautious!

Yes, results were less than we were hoping for and, of course there'll be an overreaction. Can't sell 'em for decent money, though, so might as well hang on. After all, 160p's a current year p/e of only 10 and the order book's strong.

Dead money for the short term but these'll come good again. The business is very sound.

[sidebar] 27/11/2006 08:13

What's happened to the growth?

[onlyonestorm] 27/11/2006 08:10

Well price down, dont like it when you read statements that contain 'cautious optimism' Growl.

Stormy

[sidebar] 27/11/2006 08:07

On first sight - very disappointing

[onlyonestorm] 27/11/2006 07:42

See above for full report, dont want to clutter the thread!!

Stormy

Chairman's Statement


I am pleased to report that we have continued to make good progress in the first
half of the current year. The Group achieved a marked upgrading in performance
across a range of measures during the previous year and I am delighted that we
have consolidated that elevated status in the six months to 28 October 2006.

A profit before taxation of #1.98m (2005 - #2.00m) was achieved on revenue of
#22.88m (2005 - #23.22). Earnings per share were 8.1p (2005 - 8.1p)

The three operating divisions - defence, forgings and petrol station
superstructures sustained a good and stable level of performance, subject only
to programme variations and the timing of their respective market demands.

The balance sheet remains robust, with net cash of #3.24m albeit our policy of
propitious and unrelenting capital investment in advancing the technological
expertise of the businesses proceeds at a high level.

The order book is strong and of good quality and we are positioning ourselves to
make further progress, supported in the belief that there are some interesting
opportunities for the Group in the markets we serve.

The Board continues to view the outlook with cautious optimism. Taking these
matters into account the Board has declared an interim dividend of 0.60p per
share (2005 - 0.58p)


Michael Bell

24 November 2006.

[onlyonestorm] 27/11/2006 07:34

Well the results are out, looks OK to me at first glance!!

Enjoy

Stormy

[onlyonestorm] 26/11/2006 18:52

spiritbear - 1st of Dec me thinks, followed by a rise to £2.20 by the 12th!!!

How's that?

Stormy

PS - I have been wrong before!!!!!!!

[reeshar] 26/11/2006 14:15

TDW has interims on 29th.

[cockneyrebel] 26/11/2006 11:36

yep, definitely not a negative anyway.

CR

[rivaldo] 25/11/2006 15:06

Yep. The interims for both 2005 and 2005 were both announced on a Tuesday - I'd say this Tuesday was a good bet for the results.

You're probably right about the conflict of interest. And he's quite an active bloke - a director of JJB for a start. Still, considering MSI are so mouse-like on the investor relations front it's comforting to know that they've got input from someone who's obviously clued up on and wired in to the City.

[cockneyrebel] 24/11/2006 17:25

good find Rivaldo, nice theory too :-)

Only question would be is it ethical to have a director as a director on the board of the house broker? Conflict of interest?

Anyway, results can't be far off.

CR

[spiritbear] 24/11/2006 17:19

Stormy - £2 by Friday! Which Friday were you thinking about?

[rivaldo] 24/11/2006 11:46

I see one of MSI's directors has today become a non-exec at WH Ireland:



Bit of a longshot, but it couldn't be that WHI will soon be appointed as MSI's first City broker - could it?

Interesting timing just prior to the results too. Maybe combine good results with news of a debut advisory appointment?

Well I thought it was a quality longshot anyway!

[rivaldo] 23/11/2006 08:34

Well, it doesn't look like there is much stock around! Marked up 2p already, presumably there's one or two buy trades waiting to be reported.

Millimetres away from a new high too.

[rivaldo] 22/11/2006 20:41

Yep, last year's were 29th November. Probably worth a phone call this week to get the exact date. I see the late buy today was at the full offer price, up from the 192p earlier in the day. Hopefully not much stock around.

[cockneyrebel] 22/11/2006 20:06

results can't be far off.

CR