Ms Share Discussion Threads

[cockneyrebel] 09/12/2005 10:05

Cheers Penpont - and the other good news is the Pension holds 10% of MSI shares so as the stock soars the pension deficit plummets! Their stake is worth nearly £3m so when these rise 100% the pension deficit nearly disappears!

The other point is that even at £2 the forward PE here is probably just 8 !

When this stock breaks out it motors and we're not far away from one - watch the buying pick up when it does break out. A swift 20% well on the cards imo.

CR

[xdavid] 09/12/2005 09:51

Glad they haven't changed the web site's "Welcome To The Wonderful World Of Fork Arms" :-)

I think we will also see some people re-buying into their ISAs after selling prior to the results on presumption that a move to AIM would be announced. No matter what has been said on this forum, there have been many small cap 'value' shares moving to AIM in last year and ALL that I am aware of have suffered temporarily in share price because of it. There would certainly have been people who sold on presumption that MSI share price would have dropped after announcing such a move. They will be buying back in now that the move is not going to happen and now that a post-results profit taking dip also looks unlikely. All IMHO of course :-)

[leopold555] 09/12/2005 08:34

Dipped toe again

[rivaldo] 09/12/2005 07:53

Even better news - MSI-Forks have a whizzo new web site :o))



Try to contain yourselves. I know I couldn't.

[rivaldo] 09/12/2005 07:23

Ta Penpont, good news. And they didn't even mention the director buying or share buybacks!

Should lead to more interest today.

[penpont] 09/12/2005 00:23

Updated as a buy in IC:

UPDATE: MS International (MSI)

A large naval order has sharply increased engineer MS International's order book and even before this, its first half figures showed strong improvement. The Ministry of Defence awarded MS a £15m contract to upgrade 24 of its 30mm naval gun systems in order to protect ships from smaller, faster craft. Deliveries start next year and will continue for a number of years. There is also potential for another phase of orders. All three divisions improved their performance in the first half and profits rose by nearly one-third to £2m.

The main impact of the new IFRS accounting standard is a fall in the company's asset value. This is because the pension liability of £4.3m is on the balance sheet. The liability has fallen over the past six months. The NAV is 38p a share. MS has dropped its plans to move to Aim but it is under-researched and there are no forecasts. However, trading continues to be strong and it is underpinned by the naval order. The shares, which have risen from our recommendation price of 106p (22 July 2005) to 144p, are trading on a rolling 12-month PE ratio of less than 10. That's not dear considering the improved order book. Continue to buy.

For charts and data on MS International, click here

[cockneyrebel] 08/12/2005 20:11

yep - just how I like to value a business - think forward 6-12 months and ask what the market will think of the valuation at the then expected earnings. If it looks cheap a year out, hold or buy imo.

I think 18p could prove too low.

When Nurdin spoke to them this week they agreed that £3m pbt was possible in H2 (possible, not necessary a definite). That would be over 19p eps and 22p next year would look way too low.

Even 18p diluted eps this year would be 70% earnings growth this year. That's huge growth for the PE this is trading on - PEG below 0.1. I think if they do 18p this year then 25p is on course next year. That would be growth slowing to 40% (slowing lol!).

This will re-rate at some point imo.

CR

[rivaldo] 08/12/2005 19:41

Yep CR :o))

Assuming, say, 18p EPS this year to 30th April, the market will then look forward to 30/4/07. Let's say a conservative forecast EPS of 22p given the pace of growth, director buying, share buybacks etc, we could get a price of 220p for a P/E of 10 by around July.

50% in the next 7 months sheltered and tax-free - fine by me.

[mykai] 08/12/2005 19:39

i am not a chartist but we have just seen lower low and lwer high not a good sign the lows are tiny but THERE might be an idea to watch them!

[cockneyrebel] 08/12/2005 17:44

creeping back up to its old high by stealth :-)

CR

[cockneyrebel] 08/12/2005 16:03

yep, but only a small holding in ACE now, I've had the best out of it growth can only slow from the current pace, margins a bit lower. Still good growth but better to have the fast steep bit imo. ACE are hold where they are now imo.

CR

[angora7] 08/12/2005 15:50

Yes, took advantage of it to top up. Makes a nice change from TLU! CR, are you still in ACE,they just issued great results and surprised not to see any comment from you on their board?

[cockneyrebel] 08/12/2005 14:31

it's rare, but nice :-)

CR

[mykai] 08/12/2005 13:08

Cant remember seeing a 1p spread before! any ideas

[cockneyrebel] 08/12/2005 12:03

Shares Rag really is hopeless - how do they decide on their tips - random hope? Oh. it probably is random hope - I see they have a review of a previous tip - "SDM - Stopped out" lol.

If they actually got off their butt and did a bit of research they might not keep getting stopped out.

CR

[mykai] 07/12/2005 22:28

hopefully new high on this push if the chart follows the usual pattern

[cockneyrebel] 07/12/2005 21:59

Yep, this is going to pick up its usual speed soom Rivaldo - wait till it makes a new high and the elephants charge!

All three divisions trading strongly :-)

CR

[rivaldo] 07/12/2005 18:45

Lovely stuff :o)) MSI have been buying in their shares since the price was 35p - another 300% from here would do me fine!

As I said before, this management knows how to maximise value and manages the company properly without a hint of exuberance. They don't waste a penny on a NOMAD, PR etc, they know their job and their niche markets and can see where the company's going.

A perfect "lock away in your ISA" stock imo (I don't bother with a pension anymore or it'd go in there too!).

[cockneyrebel] 07/12/2005 17:34

in my pension and ISA bigdave.

CR

[bigbigdave] 07/12/2005 16:36

CR Do you hold these outside an ISA also?

bbd

[johnrxx99] 07/12/2005 15:54

A big order to fill CR, mm's walkies must be right.

[janeann] 07/12/2005 15:41

just bought a few more after the buyback RNS ... on line max was less than 1000 - looking promising

[cockneyrebel] 07/12/2005 15:09

100k share buyback from the company just announced - the company think they are cheap still then - just increased the dilute eps a bit more too and lowered the PE further.

Did they get the mm's to walk it down so they could buy cheaper?

Who knows - just glad I hold lots :-)

CR