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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Phoenix It | PNX | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 158.50 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 158.50 | 158.50 |
| Top Posts |
|---|
Posted at 28/11/2013 08:22 by mpilot The recovery looks like it's on track after the glitch 18 months ago. It must be that all results underwhelm the market, and with a reduction in the mid-year divi; I suppose the response is not so wild.Oh well. Will it recover in the coming days??? |
Posted at 05/6/2013 17:38 by aleman Woodcutter - nothing to scare me off. Might have even picked some up if I had spotted the results first thing. Would still consider around current prices as seems to be pretty good value.I was curious about the pension assumptions. In the last year, female life expectancies crept up 0.1 year. Men's life expectancies fell 0.6 years for 65 year-olds and 0.9 years for 40 year-olds. Why are men in PNX pension schemes bucking the trend everywhere else and dying sooner. |
Posted at 03/6/2013 17:06 by major clanger PNX upgraded by Investec:http://www.brokerfor |
Posted at 26/4/2013 08:38 by aleman Hi, Woodcutter. I bought FIF at 3.8, I think. Cashflows look too weak at interims. (See note 17). EBITDA of £15m suggests maybe just shy of £20m for full year. THere is clearly some promise of a recovery judging by higher orders but that is probably not enough cash to maintain the dividend if it doesn't come. I would wait for full-year results to see if stronger orders lead to recovering cashflows. THere is every chance it will but I wouldn't give them the benefit of the doubt after the accounting irregularities. |
Posted at 25/4/2013 17:03 by woodcutter Aleman/WJCCThis cropped up on one of my TA filters on MACD. Could this be another turnaround like FIF for the patient? The FIF management team had previous highly rated performance something i need to investigate more for PNX. Despite the potential dividend cut the cash flow looks very interesting at £14.2m with £1.8m interest (excluding pension interest.) The depreciation/capex spend is only £6.6m/£5.2m not that bad. Previous years depreciation/capex almost balanced too so not a common feature. The forward order book is £284m at end sept, now £322m The annual contract value is £188m at end Sept, now £194m This years revenue prediction (digital look) £247m. So far this years revenue £124m so not impossible. Going forward this looks pretty decent, annual contract value 76% of this year possible revenue (Am i reading that correctly?) EV £201 (includes all debt) EBITDA £28m roughly (ptax £15m, I,D&A £13m) EV/EBITDA 7.2 DEBT £93 (all debt less cash) EBITDA £28m DEBT/EBITDA 3.3 debt to ebitda looks high but my estimate of ebitda was conservative (i think). The order book and annual contract values coupled with the cash generated makes it look a reasonable investment to me. As the cashflow pays off the debt as with FIF we'll begin to see improved eps. The risks are new management team needed in parts of business including additional directors, time spent reorganising accounting functions after restatement/impairme On the upside there is a lot of work available and with a bit of restructuring to turn the mid market sector around it could be very profitable going forward. Appreciate your comments guys. Aleman can you remember the early FIF DEBT/EBITDA ratio when you first bought in? I think it was about 2.7. Woody |
Posted at 13/2/2013 09:48 by wjccghcc 2 brokers are predicting a dividend cut. Also the balance sheet is quite weak with debt over 8x FCF so I wouldn't buy these solely on the dividend being maintained. |
Posted at 13/2/2013 08:16 by aleman Sounds like eps will be around 15-16p this year and then pick up next year according to the IMS. (Forecasts are around 22p.) Has the gloom been overdone slightly? I'd even guess at a token increase in the final dividend just to emphasise that things are not so bad. Is a 7% yield a bit harsh for a company that looks set to grow again and have a twice covered dividend next year? Maybe. It may need a clean set of accounts and a promising outlook to make any progress so I wouldn't expect much until after the finals.Edit - Yield up to nearly 8% after the opening dip. Looks more like a possible good buying opportunity than a time to jump ship at 140p. |
Posted at 03/9/2012 14:30 by liam1om Large sell just went through at 130p. With the dividend about to be cut, I cant see the attraction here, especially with the risk that further issues maybe uncovered. |
Posted at 03/9/2012 11:05 by pugugly my guesses:* Dividend will be cancelled to preserve cash * Good chance more iregularities will be found (where one rat is seen there are usually more) * Clients may be upset by irregularities and also have doubts about the bank facilities in spite of the Boards confidence (Board believes that the Group is and will remain in compliance with the covenants in its banking facilities and that its net debt and working capital requirements can continue to be provided by the current facilities) * Managment time may well be used up on dealing with this problem rather than developing the rest of the business. anyone any share price and yield targets ? I suppose "with hindsight" warning flags might have been deduced from the IMS of 26th July. |
Posted at 14/2/2011 17:25 by s2lowner Interim Management StatementDate : 14/02/2011 @ 07:00 Source : UK Regulatory (RNS & others) Stock : Phoenix It (PNX) Quote : 248.0 -41.0 (-14.19%) @ 16:53 Quote Chart Trades Level2 Interim Management Statement Share this article TIDMPNX RNS Number : 1430B Phoenix IT Group PLC 14 February 2011 14 February 2011 Phoenix IT Group plc Interim Management Statement and Appointment of Finance Director Phoenix IT Group plc releases its IMS relating to the period from 1 October 2010 up to the latest practicable date prior to the publication of this statement 14 February 2011. Financial Data is for the Group's third quarter (1 October 2010 to 31 December 2010) unless otherwise stated. Financial Position Revenues and Underlying profit before tax for the third quarter were in line with the Board's expectations. Servo had a strong third quarter and we continue to see good growth in both hosting and other "cloud" services. The Group's annual contract value ("ACV") has remained stable. At 31 December 2010 group ACV was GBP198.4 million (31 December 2009: GBP193.5 million) compared to GBP198.4 million at 30 September 2010 (30 September 2009: GBP178.7 million). The Group order book has reduced from GBP360.7 million at 30 September 2010 (30 September 2009: GBP266.7 million) to GBP335 million at 31 December 2010 (31 December 2009: GBP323.9 million). ICM / Servo Integration As previously announced we are in the process of combining our two end user businesses which will be functioning as one company from 1 April 2011. We will enter the new financial year with a more powerful mid market focused organisation with a wide breadth of services with a particular focus on managed hosting and other cloud services. As a result of this reorganisation we will incur some one-off restructuring charges in the final quarter of the current year. Outlook The outlook for the current year remains unchanged. We continue to face price pressure in the partner division, some of which is attributable to the Government's cost cutting measures. The pipeline for larger contracts in the partner business has some good early prospects, however it is unlikely that any of these will be commenced in the next 6 months. Overall, the board's expectations for the group next year are similar to those for the current year. Appointment of Finance Director We are delighted to announce the appointment of Steve Clutton as Group Finance Director who will be joining the company on 1 March 2011. Steve was most recently Group Finance Director of IG Group Holdings plc between October 2006 and August 2010. Previously he has served as Chief Financial Officer at the UK Retail Banking division of Barclays Bank, Interoute Telecommunications Limited and British Telecom's international business. A chartered accountant, Steve has also held senior roles within corporate finance at BZW and Bt. He will bring extensive financial and commercial experience from operating within a range of companies. There is no other information required to be disclosed in accordance by LR 9.6.13 Enquiries: Phoenix Tel: +44 (0)1604 769000 Peter Bertram Executive Chairman Nick Robinson Chief Executive Officer Financial Dynamics Tel: +44 (0)20 7831 3113 Charles Palmer Haya Herbert-Burns Nicola Biles This information is provided by RNS The company news service from the London Stock Exchange END IMSGGUUUPUPGGBW Phoenix It (LSE:PNX) Historical Stock Chart 1 Year : February 2010 to February 2011 Phoenix It (LSE:PNX) |
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