Next Fifteen Communicati... Share Discussion Threads

[anley] 10/4/2017 10:54

I have bought in after being told to do so by a very well informed broker and banker.

Its a tight stock so one has to be careful.............

[mfhmfh] 06/4/2017 12:31

solid results I thought.

rated as a buy by IC in article dated yesterday.

[jeff h] 05/4/2017 10:29

Proactive Investors . co . uk have an interview with Tim Dyson on their site.

/companies/news/175909/next-fifteen-communications-posts-full-year-profit-growth-driven-by-us-businesses-175909.html

[adilzaidi786] 21/3/2017 09:51

Forgot to mention that I went to the shares investors evening and heard from the CFO. He thinks that they will earn £3m alone from favourable currency fluctuations. You should be able to see the recording of the presentation on the shares website.

[james010] 27/2/2017 15:05

level 2 looks ok from my perspective decent amount of buyers and supply looks limited. a fair few around 400p + mark now but still demand looks good.

[adilzaidi786] 27/2/2017 14:52

I can't see any news either. Must be a tree shake. Thinking of buying in

[james010] 27/2/2017 14:44

down 6% - now news i Can see ??? treeshake ?

[mfhmfh] 20/2/2017 17:23

happy to hold as well.

this is one of the companies presenting at a Shares Magazine Investor Evening on 7th March if anyone is interested in attending:

[wjccghcc] 20/2/2017 14:16

Happy to hold mine. Managed to add a fair few in the dip towards 300p. At some point, they're going to be bought by one of the big guys.

[maltatrader] 20/2/2017 13:55

something must be brewing ...there is still buying interest over 400p.

[alphabeta4] 20/2/2017 12:57

Well that went well! Surprising amount of AT buying still. Well done to those who kept the faith - perhaps there will be a RNS soon on a new / added instituional position.

Looks even more toppy now IMO but you'd expect me to say that!

[alphabeta4] 17/2/2017 15:20

Out for now at 394, rerated to sector. RSI looking toppy IMO.

[1861andy] 10/2/2017 10:04

This is top of my watchlist hoping for bit of a pullback so i can get in seems just be flying everyday!

[jonboy9] 10/2/2017 03:19

Naked trader on 26 Jan: I picked up some more Next Fifteen (LON:NFC) - I like this one, a nice under the radar share no one is interested in apart from me! A decent trading statement this week - it is buying up rival companies and keeps adding decent contracts such as General Motors, Unilever and Deliveroo.

[mfhmfh] 09/2/2017 10:44

sp really motoring now. Anyone know any reason for this?

[mfhmfh] 24/1/2017 10:40

solid trading update. looking for 350 soon then a push towards 400 (if we're not taken over first). IMHO.

[leading] 09/11/2016 08:21

Sell any shares you hold in opinion pollsters!

Buckle up; it's going to be a bumpy ride.

[alphabeta4] 09/11/2016 07:29

No worries leading, easy mistake. Fair play for your post.

What about Trump?! Bloody hell!

[leading] 08/11/2016 12:51

Alphabeta4 - You are quite right about the organic revenue point. I am not sure how I missed that as it was quite clearly highlighted in the results statement, but I did. Apologies.

[alphabeta4] 07/11/2016 16:36

mfhmfh - Stale bulls maybe? Has happened here before.

Btw each to their own leading but I'm not sure where you're getting that organic growth is being manipulated by currency effects. From the half year statement:

Organic revenue growth


Organic revenue growth is defined as the revenue growth at constant currency excluding acquisitions made since the start of the prior reporting period.

On the statutory profits then yes I can see how you would get a fully diluted PE of around 50 (as half year eps 3.5p) but under the 'A reconciliation of segment adjusted operating profit to profit before income tax is provided as follows' section (I won't include the whole thing here as this would look untidy) you've got lines such as a £1.883m share based payment which seems reasonable as a non-recurring item as these will drop out, amortisation of acquired intangibles £2.378m which again would drop out (and of course is non-cash). I won't go through all the lines but they seem to relate to one off acquisition costs/adjustments which seem reasonable to me.

Finally, on the financing headroom concern you have from the statutory cash flow section net cash generated from operations is 15.430m, add back finance expense of 2.469m (for 17.869m EBITDA) gives interest cover of 7.24x (17.869/2.469). If net debt is 12.2m then if we double the EBITDA figure to turn into a full year then we have 35.738 for 2.93x. From my days in the banking sector we were quite happy down to 1.75x so this doesn't look a big deal to me.

Just my take of course, but I'm happy with the numbers here.

[mfhmfh] 07/11/2016 14:04

any reason for the fall today/recently?

[leading] 03/10/2016 10:43

I have held these shares for some years and had a great ride. However, I am starting to have a few doubts.

Things that concern me include directors remuneration. Tim Dyson (MD) received remuneration of £815,000 in y/e 31/01/2016 from a business that made £5,578,000 pre-tax. He is a substantial shareholder, so I would like to see a better alignment of his rewards with the interests of the other shareholders. This is a bit of a distraction though; the main thing I am struggling with is the market value of the company.

The company's growth is coming mainly through acquisitions. It's financing headroom must be getting limited now. Its organic growth in H1 2017 was 2.9% yoy in UK, 4.0% in Europe 6.6% in Europe and a claimed 17.2% in USA, but this appears to include the effects of currency depreciation which has not been split out as far as I can see, so perhaps the true organic growth is nearer 10% in USA here.

Meanwhile the company trades on a PE of around 50 on a fully diluted basis using statutory profits rather than the "headline" numbers that the company likes to bandy about. I don't see why a company showing organic growth of 5-7%pa or so should be on such a high rating. It is valued at 2 x turnover.

The interim statement outlook said that the Board is confident of meeting expectations for the year because of movements in foreign exchange. So I read that as saying that without a major one off depreciation of sterling, they would miss.

And another thing! No amortisation is charged against goodwill. This means that whenever a recession comes along, once every ten years or so, it all has to be written off in a kitchen sink exercise, where the directors cheerfully advise shareholders that it is a "non-cash" matter.

It's still a good company so far as I can see, but the share price seems to me to have become unrealistic, so I have sold my holding.

[mozart999uk] 28/9/2016 09:29

as expected, the share price always drops on good news :-)

[mfhmfh] 27/9/2016 11:23

great results today

[mfhmfh] 23/9/2016 09:47

received this email today from Capita Asset Services:

'We have been informed that the companies interim results are due next week.'