Office2office Share Discussion Threads

[jeff h] 29/7/2011 10:53

Wonder if something corporate is brewing?

No usual H1 Trading Update published and now the actual results are going to be issued next week approx 3 weeks earlier than usual.

Stock to buy drying up though I just managed to add some.

[ignoble] 21/7/2011 17:02

Behaving rather well of late ...

[jeff h] 06/7/2011 10:39

Better Capital have paid £40m for a stationery/office products supplier.

I wonder if todays rise has got anything to do with that?

[nurdin] 06/7/2011 08:41

100k buy 1 penny above offer gone through.Ticked up now..;o)

[thamestrader] 20/6/2011 14:01

These flat bits are rather frustrating - but much better than what's happening to the rest of the market.

[nurdin] 16/5/2011 08:12

We are off again..despite the market conditions...bodes well..;o)

[jeff h] 13/5/2011 15:13

A managed services business has landed a contract which will bring in at least £100m before 2016 and could create new jobs at its Norwich headquarters.

Office2office has signed a new contract with buying consortium Advantia which will run for a minimum of four years from January 1. 2012.

Advantia is a non-profit organisation established to buy products and services on behalf of its 55 members, all of which are independent dealers in office products.

The firm will supply its range of 8,000 products to the consortium, for resale by its members.

The move is part of a plan by Office2office to gain market share in the small to medium enterprise market.

It estimates that the UK office product market is currently worth £3.8bn annually.

It is thought that the contract will be worth at least £25m a year, but could increase if Advantia recruits new members within that time.

The new business will see Office2office employ 100 new workers over the next year, although most of these will be in warehousing and distribution and therefore not based in Norfolk, the firm said.

However, the firm said that increases in administration overheads could lead to new jobs in the city. In the year ending 2009 the firm saw turnover of £188m, which rose to £208m last year.

That is expected to rise a further 11pc in 2012 due to the Advantia contract.

Chief executive Simon Moate said: "In the current climate we're pretty pleased. We've been working on this for over a year now.

"In considering our decision to expand in this market sector, we recognised the importance and influence of dealer groups and engaged early in our planning with Advantia to develop this new proposition.

"We warmly welcome all Advantia members and look forward to supporting them in the years to come," he added.

Office2office has its roots in Her Majesty's Stationery Office, which was privatised in 1996.

Now the firm has 1,000 staff, 180 of whom are based in its city base in St Crispins House on Duke Street where the financial, IT and back office operations are located.

The company also has stock warehouses in Manchester and Basingstoke and a production facility based in Guildford.

[jeff h] 13/5/2011 15:10

I added a few on the new contract news.

Trading still challenging and I'm a bit concerned that additional staff will have to be recruited and investment take place before we see the benefits of this large contract award....that's the nature of the beast I suppose.

Panmures view:-

Panmure Gordon maintained its "buy" rating on office2office (OFF), the provider of office solutions, with a 190p target price. Commenting on the contract win with Advantia, the broker said this significantly underpins current expectations and removes a substantial risk-element to current contract renewals expected over the summer. What's more, with a significant pipeline of opportunities, Panmure added that it believes this could be the start of a number of contract wins which could materially improve short-term prospects. The shares pushed ahead 2.5p to 126p.

[nurdin] 13/5/2011 08:21

keen buying this morrning..Directors buy leading to some confidence again...

[ignoble] 12/5/2011 17:16

Vote of confidence IMHO ...

[nurdin] 12/5/2011 16:35

CEO buys 20k:

For immediate release 12 May 2011

Notification of Director's Interest in Shares

office2office ("o2o" or "the Company") has been advised that Simon Moate, Chief Executive, has increased his beneficial interest in o2o following the purchase today of 20,000 ordinary shares of lp each in the Company (the "Shares") at a price of 126p per Share into his self invested personal pension (SIPP).

Following this transaction, Simon Moate's total beneficial interest is 139,811 Shares representing 0.39 per cent. of the Company's issued share capital and options over 497,885 Shares awarded under o2o's performance share plan and SAYE scheme.

This notification is made in accordance with DTR Rule 3.1.4.

For further details contact Debbie Rodwell

Company Secretary

[thamestrader] 12/5/2011 11:53

In at 126.7p

[ignoble] 12/5/2011 10:00

Here's hoping ...

[nurdin] 12/5/2011 09:58

Dont think the market has quite appreciated the significance of the Advantia contract announced today.Its worth £100m over 4 yrs which is huge in itself but the potential to grow this side of the business looks enormous.As the announcement says:

'' The UK office products market is estimated to be worth GBP3.8bn of which GBP2.6bn is served by 3,000 independent dealers many of whom are members of dealer co-operatives similar to Advantia. Approximately GBP1.2bn is channelled through the large contract office product providers of which o2o's Banner Business Services ranks number 3 in the UK.

The Advantia contract has the potential to increase significantly as other dealers may also choose to become members, looking to enjoy the benefits from the growing scale, competitive procurement abilities and cost efficiencies of o2o.''

Mouth watering indeed...expect a lot of media coverage for the company in the coming weeks !!

[ignoble] 12/5/2011 08:23

Can't disagree ...

[nurdin] 12/5/2011 08:21

I am back in here.9% yield and PE of less than 4.5...thats cheap in anyones book.The new contract will go a long way towards compensating any shortfalls in the public sector contracts imo...

[bogotatrader] 11/4/2011 07:36

Could be over 140p over next week in move up to xd date and bumper 8p final dividend.. a near 6% yield from final dividend alone payable in May.....

[bogotatrader] 04/4/2011 16:27

would not surprise me if this is over 150p or 160p over a short period of time

[bogotatrader] 04/4/2011 16:27

would not surprise me if this is over 150p or 160p over a short period of time

[ignoble] 04/4/2011 11:45

Behaving rather well ....& that divi to come !

[bogotatrader] 31/3/2011 09:42

xd date 20th April for 7.8p dividend

[bogotatrader] 29/3/2011 19:39

nice tick up toward close augers well and this one will re-rate ahead of the xd date for those wh wish to strip out a very juicy dividend which will be paid in May...

[bogotatrader] 25/3/2011 08:33

xd date 26th April for nice juicy dividend...

[bogotatrader] 25/3/2011 08:07

Thanks okosling...looks really cheap....

[okosling] 25/3/2011 07:54

From the investment column in The Independent newspaper today:

(quote)

Office2Office certainly cheered investors with its full-year figures yesterday. The update on the first quarter was key to the market's response, revealing in line trading despite the pressures posed by the office products supplier's exposure to the public sector.

As analysts noted, the fact that the dividend was held was a show of confidence. Hopes were reinforced by a strong pipeline of opportunities, and by the comments that the private sector was showing resilience and now made up "almost two thirds of group revenue". Though the economic backdrop remains changeable, this, coupled with an undemanding valuation, gives us confidence in the stock.

(end quote)