Ms Share Discussion Threads

[pobby2] 27/11/2006 17:24

the boy is back!!!!

[sidebar] 27/11/2006 17:23

xdavid. When I sold this afternoon the nms was 1000 to sell.

[barn owl] 27/11/2006 15:37

Possible director's buying in at these levels.Long-term, chart still looks good.
Good Luck all.

[xdavid] 27/11/2006 15:29

For what it's worth, i earlier sold back the ones I bought a few weeks back but I've kept the same core holding I have had for last two years. Maybe I've gotten too attached but I'll look on it as MSI taking a breather after two 'easy' turnaround years. I'll give them the benefit of the doubt until next results anyway. Meanwhile, tucked further back into ISA pension sock drawer.

One thing though that I have noticed... The online volumes on offer all day have not dropped below the 1500 level. This is very high for MSI, compared to drops in the past. Indeed, at the moment you can actually sell 7500 online but BUY ONLY 1500!!! Someone seems keen on these at this price...

[cockneyrebel] 27/11/2006 15:11

It's okay Angora, I could have posted that an hour sooner I guess, just thought there wasn't much positive in doing it for the existing holders as it doesn't add much

CR

[goatman] 27/11/2006 14:50

£150 to sell, now. Think I will just hold on to mine. No point in selling with the sheep!
G

[rivaldo] 27/11/2006 14:27

Yep. Must admit I also sold my last lot since my last post, in the early/mid-160p's. Same as others here - unlikely to be any saving grace RNS's till the next results etc etc. Might as well wait for the price to drift till then. Even if MSI start doing more buybacks, why buy in now?

Good luck all, especially with Robbie's lot exiting.

[angora7] 27/11/2006 14:25

CR, No criticism implied by my post. Thanks for posting your rationale Good luck in your other holdings.

[spiritbear] 27/11/2006 14:03

Robbie Burns has decided to sell as well on the basis of an only OK report:

"...there just isn't any obvious upside for probably at least four months....So while I don't think they will head south much more I also don't think they will go north much either and will end up in the 165-180 area and staying there....there is no point tying up capital here I sold....Disappointing all round!"

His followers will probably sell now as well.

[dayjob] 27/11/2006 13:47

diogenes, apologies for not responding to your last post (friday before last), been in tokyo until yesterday, and couldn't seem to get the uk site to open (my japanese is rubbish)

all - sorry to see today's repitition of the last set of results - gl to holders

[dayjob] 27/11/2006 13:47

diogenes, apologies for not responding to your last post (friday before last), been in tokyo until yesterday, and couldn't seem to get the uk site to open (my japanese is rubbish)

all - sorry to see today's repitition of the last set of results - gl to holders

[cockneyrebel] 27/11/2006 13:28

I just sold out actually Angora, taken me the morning to decide exactly what I should do and what I think.

Wasn't sure what to do on these results, and what to make of them. Having studied them, debated the cash they have they look pretty decent value assuming H2 is as good as H1 the PE isn't that high if you strip out the cash and the divi is secure and they are ISAable. But sadly, thinking about the lack of newsflow here over the next 6 months (and I can't see MSI changing) then I think I can use the money better elsewhere for the return that's likely.

That's life, love affairs end :-) Luckily I never had the large amount I was holding 9 months ago. I think if I'd held many more I'd have definitely lobbed a chunk at the open.

Shame. Can't say much else really, most been said above. I do think they look a bit target for VTG somehow and won't be surprised to see that happen now I've sold.

CR

[angora7] 27/11/2006 12:10

Hmm...someone is conspicuous by their absence so far today...sounds like he's sold up.

[smiler1] 27/11/2006 11:29

On the face of it, the results are disappointing. However, true to form, the information disclosed is less than helpful in understanding the half year performance. In the first half of last year, the JV business provided £464k of total operating profit of £1,959k; in the 2nd half the JV made a loss of £27k out of an overall op profit of £1,912k. Therefore the other two legs of the business showed good growth at the operating profit level of £3,434k for the full year compared to the previous year £2,843k.
With the change in the accounting policy, the split now is totally obscured. I think I remember reading a post some time ago from CR saying that they were developing a further business line. It is possible that this may explain partially the increase in cap ex and the profit only standing still (and why the change in accounting policy is now been actioned). It is frustrating that this company seems determined to hide its light under a bushel. I suppose a worrying aspect is turnover, but this can be impacted by timing on contracts. Although told the order book is good, we are not told how much it is or any comparatives that would make such information worthwhile. Holding on if only in hope.

[narindg] 27/11/2006 10:51

barn owl - its called milking the PIs

[barn owl] 27/11/2006 10:48

So having a cautious optimism in a company's outlook, now denotes a profit warning for the future, the way the share price has been marked down! It's a funny old game in the market these days.
Good Luck.

[narindg] 27/11/2006 10:44

overdone - will recover to 1.70 odd

[njp] 27/11/2006 10:38

riv

We're thinking on much the same lines. This remains a sound company and order book is good. But unless they completely change their spots they're going to remain completely unimpressed by PR / IR. They do the business and then report it. Trouble is, that means the price is going to remain suppressed until the next set of results showing good growth.

[a3477681] 27/11/2006 10:34

Rivaldo, definately needs to let the dust settle and I agree the underlying business is sound. Maybe they will learn to present the reports with just a tad more enthusiasm to reflect their economic health. We need to see some growth.

[sidebar] 27/11/2006 10:25

Panic selling kicking in now. MM's are happy to keep marking it down. Best to wait until the dust settles if you want to sell.

[rivaldo] 27/11/2006 10:21

A3etc, there are a number of other trades which have gone through at similar levels on PLUS...

Short-term these results are a disappointment. But (and call me naive) the narrative in these results (if brief) is more optimistic than ever before - a simple statement of "cautious optimism", no vague threats of "challenges" etc, strong order books, progress in all three divisions...and we know about the secure orders stretching far into the future.

When the dust has settled this should be a buying opportunity imo. For now it just depends on when the dust actually settles!

EDIT - there's also £110k of intangible amortisation. Add that back and you probably get around 8.9p EPS for H1 - doubled up that's almost 18p EPS for the year.

[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.