Ms Share Discussion Threads

[davidosh] 18/11/2008 16:50

I think they should be fine....the defence contracts doing well and they will be doing the guns on the new aircraft carriers too AFAIU.

[xdavid] 18/11/2008 14:41

Interims should be out soon. 29th November last year.

[xdavid] 18/9/2008 17:42

RNS Number : 7914D
MS International PLC
18 September 2008

PURCHASE OF OWN SHARES
MS INTERNATIONAL plc announces that it has purchased 40,000 Ordinary Shares in the Company
at a price of 180
pence per share.

These shares will be cancelled

David Pyle
Director & Secretary

[wilmdav] 03/9/2008 18:59

myopia

At 03/05/08
Liabilities £23.4m
Assets £25.4m
So it's well funded but worth noting that the last triennial actuarial valuation was at 5 April 2005, so there is another in process now.

[myopia] 20/7/2008 08:12

The net cash pile doesn't look that large to me if you deduct current creditors. Also - does anyone know the size of their pension fund?

[xdavid] 24/6/2008 10:35

Very nice. And Michael Bell still effusive over outlook despite macro conditions.

Deducting the 55p net cash from share price = effective price of 146p =

effective PE of 6.8
effective PEG of 0.3

For anyone looking for more financial info than shown in RNS, get a copy of printed results from MSI as it contains lots more informative stuff.

I look forward to next interims as they should be able to really gear up on that capex. Goodness knows what the cash pile will look like in 6 months! They may well be casting their eye over any opportunities they get in current climate but generally they seem very risk-adverse re spending (Michael Bell says "cash is king") so I can only see it continue to grow. Suits me, sir!

[davidosh] 24/6/2008 08:53

Excellent results and more to come.

With that large cash pile I am sure they will be looking to buyback those shares again so this should start moving upwards as any seller is likely to be mopped up by either happy shareholders or the directors utilising their own or the company cash.

I feel very comfortable with MSI and with the capex heavily spent a year ago we should see lots of cash coming through. In these markets they are in pole position on the grid !!

[smiler1] 24/6/2008 07:38

Good results, bullish outlook and 25% increase in divi. What more can you ask

[xdavid] 23/6/2008 23:41

afpk53,
davidosh & carmensfella = not same person ;-)

[xdavid] 23/6/2008 20:20

Aaah! The Carmensfella effect! That explains the rise today :-)

[afpk53] 23/6/2008 20:19

Thanks for the link David. I used to follow your comments on BBC with great interest in the days when I was heavily invested in them. The profits I made back then have been spent on a piece of land in Ireland where I now live in a house Ben Bailey virtually paid for! It's great to know you appreciate what MSI are doing as I've owned shares in them for a couple of years and hope we can look forward to your company, and intelligent comment, once again.

[davidosh] 23/6/2008 18:06

This may be of interest and there is a similarity in your eps expectation and conclusions

[xdavid] 23/6/2008 16:33

I saw the share price lift today and presumed that it was more director buying - but forgot results are soon so in closed period.

Had a look at previous comments after interims...

========================
westcountryboy - 29 Nov'07 - 08:14 - 1116 of 1147

Look at the segmental info at the bottom - really large profit increases for forecourts and forgings. Meanwhile defence earnings have been reduced by investment to meet the substantial sales increases flagged up as due in H2 and next year. Go figure, as they say :-)

Cambium - 29 Nov'07 - 09:14 - 1117 of 1147

Nice move this am

xdavid - 29 Nov'07 - 13:31 - 1118 of 1147

Interesting to see the increase in information contained in the interims. Far more than previous years and more than is usually contained in the finals! Looks like they have taken onboard previous comments to them about lack of transparency regarding the different divisions, with this putting off some investors. Coupled with the audit statement from Ernst & Young (first time I have seen their hat in the mix), I'm wondering if all this adds up to an upcoming push for more investor exposure?

Unusually bullish statements from Michael Bell (backed up by pre-close director buying and the comment regarding retention of exercised options)with phrases like "good visibility" and "forthcoming surge". Even his typical, cautious, ending comment regarding short-term outlook contained the word "buoyant" - careful now, Michael, you'll be getting accused of exuberance!

From the comments, the capital spending signalled in 2006 looks like it is winding down. Despite the obvious large expenditure they still managed to increase cash in hand year on year so the next few years "record order book" earnings should benefit from the resultant leverage. That sizeable capital expenditure for defence division in combination with the H2 "surge" comment does look extremely tantalising, WCB!

2008 estimates (mine) with historic 2007 in brackets, @225p ...
E (fully diluted) ... 21.2 (17.5) - see note 1
PE ... 10.6 (12.9)
PEG ... 0.51 (0.57)
divi yld ... 1.8% (1.6%)
cash per share ... 60p (46p) - presumes net cash inflow continues for H2

Note 1. Earnings - MSI usually have about 25% uplift in H2. The comments suggest this is going to be sizeably increased this year but I have only chalked in a 35% (cautious) increase.

All in all, I like it. Finals should be really interesting. A big sign would be further buybacks or director buying in coming months.
========================

I'm going to stand by my predictions :-) but with share price at 190p, ratios work out at...

2008 estimates (mine) with 2007 in brackets, @190p ...
PE ... 8.95 (10.9)
PEG ... 0.42 (0.52)
divi yld ... 2.1% (1.9%)

[afpk53] 22/6/2008 16:11

Results should be out this coming week. Anyone any ideas about whether the price of petrol will affect the demand for new station forecourts?

[davidosh] 13/5/2008 15:40

I have not tried but all the trades are shown on PLUS

[onlyonestorm] 13/5/2008 15:02

Anyone else having problems buying this today?

Stormy

[davidosh] 01/5/2008 12:57

Investments cannot be measured in days and these markets are volatile but if you are a trader then I am sure you will be happy.

[darola] 01/5/2008 12:41

MSI down - SFR up (+ ex div date round the corner - so another 4.5%).

Ummmmmm - I must have been lucky

Or did I do my research ;-)....

[davidosh] 28/4/2008 09:46

Not clever me....just simple and I take it all in the first time.

[darola] 28/4/2008 09:39

LOL - your clever...

Read it again...

[davidosh] 27/4/2008 23:31

Must be a different SFR....In the recent results I saw the headlines were

• Following acquisition and capital expenditure, year end net borrowings of
£48.1m (2006: net funds £38.2m)

That means 'debt' I preferred the old SFR which was probably the one you thought you were invested in.

MSI are very much net cash and all those share buybacks is an indication of where the money is going. It is also very eps enhancing in future years

[darola] 27/4/2008 22:22

SFR are total quality - read the accounts, news releases and look at the director buy activity.

- Market leader
- No debt
- Strong order book
- Huge drop in share price for no good reason

Nuff said...

[davidosh] 27/4/2008 21:00

Well SFR has probably dropped since your act of boredom so be mindful that it may cost you...I certainly prefer MSI but you pays your money and....

[darola] 26/4/2008 11:03

Got bored!