MWB Business Exchange Share Discussion Threads

[johnv] 12/6/2009 09:01

They must be making hella lot of cash, why else would they give £10m of their £16m cash pile as divis, not to mention the £1.4m buying shares back. I know they are not happy with the share price, is this some way of getting noticed?

[silverfern] 12/6/2009 08:15

THe company bought back 2m shares last week - cheap now at 70p; the div will cost £10m almost to the penny. They had £16m in cash at Dec 2008 and have made more since

[aishah] 11/6/2009 16:54

preTax10 doesn't seem to have changed form previous fcst. Tried phoning the company as well to confirm divi RNS but no luck.

[johnv] 11/6/2009 16:46

Aishah,
pretax09 estimate must be upgrade whilst have they left pretax10 at original est perhaps?

[yump] 11/6/2009 16:42

Well Peel Hunt have the same dividend statement.
I've just tried to phone the company - no luck - will try tommorrow.

I think there's been time to issue a correction if it wasn't right.

If there are not a lot of small shareholders, then perhaps its viewed as a way of paying various stakeholders the immediate results of the business throwing off cash at a stonking rate ?

Bit unusual though.

[aishah] 11/6/2009 15:49

They seem to be on the ball at present - good acquisition recently, share buyback and now cash spend on divi. Must be confident.

KBC Peel Hunt Ltd: 09-06-09 BUY
preTax09=14.00,eps=20.35
preTax10=11.50,eps=16.72

Tried to top-up first thing, but moved too fast. Happy to hold.

[silverfern] 11/6/2009 15:15

Yes but £22m in cash and this released in May: AIM-quoted MWB Business Exchange Plc ("Business Exchange"), the UK's second largest provider of flexible office space, continues to deliver above its budgeted income and EBITDA as better than anticipated enquiry levels have been maintained over the first four months of the year. Business Exchange's increasingly successful meeting and conference room division has also grown over the same period.

[martincc] 11/6/2009 14:08

Just reading up on this, have I got this right?

From the fins 26/03/09-

Although performance has been strong in the year under review, the directors are not proposing a dividend at this point in time preferring to monitor developments in the economy over the short to medium term.

RNS today -

RNS Number : 7148T
MWB Business Exchange Plc
11 June 2009

?
MWB BUSINESS EXCHANGE PLC
(the "Company")


Interim Dividend Payment
The Company today announces an interim dividend payment of 15.00 pence per
share. The dates relating to this interim dividend payment are as follows:
Ex-dividend date: 17 June 2009
Record date: 19 June 2009
Payment date: 30 June 2009

[johnv] 11/6/2009 09:04

I also own shares in mwb which has 70% of this company. What % do they need to take this company private? as there has been talk in one of the tipsheets about this and more importantly will we be able to get out in time

[yump] 11/6/2009 09:02

Just read through that acquisition again.

Hoping this is a classic case of having cash available in a recession to buy up distressed 'stock' to build a business for the better times. Certainly looks that way.

[yump] 11/6/2009 08:49

Well 10m in dividend payout would seem a little excessive !

Still very interesting and cheap. Shame I didn't spot this at the bottom, but it moved very quickly - I got some around 60-70p in bits.

Given time, the last few months would have been a very good time to spend ages looking at every set of small company results that came out, to see which businesses are actually sound, because they all got trashed earlier and now one by one the ones that reassure are all moving up rapidly (or have already done so).

[johnv] 11/6/2009 08:30

have they forgotten to add the decimal point to the number?

[aishah] 11/6/2009 08:11

MWB BUSINESS EXCHANGE PLC
(the 'Company')

Interim Dividend Payment

The Company today announces an interim dividend payment of 15.00 pence per share. The dates relating to this interim dividend payment are as follows:

Ex-dividend date: 17 June 2009

Record date: 19 June 2009

Payment date: 30 June 2009

They have plenty of cash - price up more than 9%. Still cheap IMO, DYOR

[aishah] 04/6/2009 21:59

This extract from write-up of MWB by TMI in their last issue:

"Meanwhile, it might seem counter intuitive that MWB Business Exchange (MBE), which was set up to provide flexible, serviced office space actually increased pretax profit 10% to £14m in 2008 while eps rose 8% to 20.4p. However, it has found itself in the right place at the time, helping customers who in this tough environment don't wish to be locked into onerous long-term leases, with high exit penalties. Considering MBE has net cash of £16.3m, its shares also look cheap and there may be a case for MWB taking them private if they don't re-rate further."

[yump] 04/6/2009 11:03

This company is quite interesting - I bought in a bit recently.
They have launched an affiliate scheme, which, if you're not familiar with them, is basically a way of getting sales at a known cost.
ie. you only pay commission when you get a sale (or in this case lead).

That allows you to effectively have known ROI on your marketing.

The fact that they are running an affiliate scheme says to me that they are very much on the ball. Plenty of larger companies won't even know what an affiliate scheme is.

It is also being run by one of the best outfits in town.

Just google MWB affiliate scheme.

[aishah] 04/6/2009 09:56

Bought back 1,930,750 @70p - they have a big cash pile. Still pretty cheap IMHO.

[lochgarman] 02/6/2009 18:05

very nice aquisitions today..looks like they got the 15 centres at a song.

good savy company this.

[aishah] 14/5/2009 19:05

Good strong rise recently - more than doubled on purchase post results. Still pretty cheap. DYOR

[aishah] 16/4/2009 10:13

Fcst:
2009 2010
Date Rec Pre-tax (£)EPS (p)DPS (p)Pre-tax (£)EPS (p)DPS (p)
KBC Peel Hunt Ltd
15-04-09 BUY 14.00 20.35 11.50 16.72

[aishah] 16/4/2009 08:33

Finally some interest. From the results:

MWB Business Exchange Plc is the UK's second largest provider of flexible office space and meeting rooms. The organisation currently operates a total of 56 centres focused on Central London and key regional business centres.

HIGHLIGHTS

Revenue grew 19% to £118.7m over the previous 12 month period.
EBITDA rose by 4% to £18.1m compared to year to 31 December 2007.
Profit before tax grew 5% to £14.0m against £13.2m for the comparable 12 month period.
Revenue Per Available Workstation (REVPAW) advanced 3% to £8,700 at 31 December 2008 from £8,435 at 31 December 2007.
Revenue Per Occupied Workstation (REVPOW) also up 3% to £9,650 at 31 December 2008 compared to £9,355 at 31 December 2007.
Meeting and Conference Room revenue up by 7% to £11.3m.
Occupancy maintained at 90% at 31 December 2008.
Another new Business Exchange centre successfully opened during the year.


'We have a strong cash-generative business with a sound balance sheet and the Board remains positive about the medium term future for the Company, both in terms of profit and shareholder value.'

Richard Balfour-Lynn, Chairman, MWB Business Exchange Plc.

Net Cash of £16.4m ; eps of 20.4

[lochgarman] 21/1/2009 15:56

maybe the poor chap has just come out of a coma???

[johnrxx99] 19/1/2009 05:52

Lol, where have you been?

[empirestate] 16/1/2009 14:02

why has this one been hammered so much?