Phoenix It Share Discussion Threads

[ged5] 16/1/2006 16:48

A new one starts coverage.

1032 GMT [Dow Jones]--Altium Securities initiates Phoenix IT (PNX.LN) at buy, with a 360p target. Says with a favorable renegotiation of the department of work & pensions contract behind it, now it can focus on winning new business. Expects a further re-rating of shares and sees significant further upside. Says stock wrrants a premium due to business model, not a 20%-25% discount. Flat at 283.75p. (NPF)

[ged5] 12/1/2006 17:29

I prefer Shore Capitals version

0917 GMT [Dow Jones] Phoenix IT (PNX.LN) has finally renewed its UK Department of Work & Pensions contract after concluding negotiations with EDS (EDS). Shore's George O'Connor says, as expected, the contract is for a lower value - he also expects margins to be lower. Significantly, the contract is part of a framework agreement which strengthens the relationship between the two companies. Shore looks to upgrade following company meeting, with a GBP2M revenue upgrade and GBP300,000 profit uptick likely in the current year. Says significant uncertainty is removed. Rates at buy. Trades +3.4% at 275p. (NPF)

[ged5] 12/1/2006 17:24

1144 GMT [Dow Jones] Phoenix IT (PNX.LN) renegotiates EDS (EDS) contract to supply department of work & pensions in UK. Housebroker UBS says this removes a significant overhang on the shares and the renegotiation is consistent with its assumptions. Maintains estimates but sees upside risk to forecasts. Expects sentiment to improve. Rates neutral. Shares trade +5.3% at 284p. (NPF)

[ged5] 12/1/2006 14:24

Happy days are here again.

2.9025-2.95

[ged5] 12/1/2006 14:04

What a difference a day makes! Singing again.

[ged5] 12/1/2006 09:38

Oh! There it is.

"UK Government Department desktop support contract



Phoenix IT Group is pleased to announce that it has successfully concluded its
contract negotiations with EDS Global Field Services for the provision of
desktop maintenance, deskside support and implementation services for a major UK Government Department.



The contract runs from 1 January 2006 until 31 August 2010 and, whilst the
revenues will depend on volumes of activities, the experience gained to date
indicates revenues in 2006 of around £8m. The contract includes some phased unit price reductions against certain activities in future years. This, together with an anticipated technology refresh programme within the Department, is likely to result in a further reduction of revenue from this contract in 2007.



The contract forms part of a new Framework Agreement that has been signed by
Phoenix and EDS Global Field Services to facilitate additional business and it
represents a significant strengthening of the partnership that has existed
between the companies for more than five years in the delivery of services to
customers such as BP and Aon."

From the share price this morning it looks like this was all that was holding the rise up. Let's hope we make up lost ground now.

[ged5] 11/1/2006 12:06

Obviously in the Christmas spirit last time I posted.

The drop in share price reminds me of last year before the ex-dividend date. Hopefully the rise after the dividend will also be forthcoming. I was wondering whether I should be panicking and kicking myself for not selling all my shares between 3.20 and 3.40 so I decided to look back at the results. I find optimism and a good outlook going forward. The only problem seemed to be the BT contract for the Dept of Work & Pensions.

Perhaps there'll be an announcement very shortly.

[ged5] 23/12/2005 21:13

Oh my God! I've been talking to myself. If you don't mind I'll go back and delete the last 2 posts.

Anybody who reads this thread have a very Merry Christmas. Good luck and be prosperous.

Diogenes, you Greek philosopher, where are you. You should be buying at these prices and ramping like mad.

[ged5] 08/12/2005 09:47

Well wrong again - at least in the short term.

Am I right in thinking that we're at the bottom of a rising channel on the chart? Maybe some confirmation is needed so come on Phoenix let's have that contract news.

[ged5] 28/11/2005 10:30

Starting to take off by the looks of things.

[ged5] 24/11/2005 17:15

Another institution joining the 3% and above holders.

Also a 600K buy this afternoon.

Maybe we'll have further announcements over the next few days.

[ged5] 24/11/2005 15:00

Report in the FT this morning was good.

Mentioned that adoption of VOiP telephone service was creating work.

Also reported that NR was keen to buy a managed hosting business which runs and maintains IT services for companies remotely over the internet as demand for these services rose.

[ged5] 23/11/2005 19:08

Newsflow to come.

Possible renewal of the Department of Work and Pensions contract. If it is renewed it will be before year end.

Ex-dividend date 13th January.

News of further contracts possible.

Phoenix website:-

[ged5] 23/11/2005 19:01

Also:-

LONDON, November 23 (newratings.com) - Analyst Simon Strong of Panmure Gordon & Co maintains his "buy" rating on Phoenix IT Group Ltd (ticker: PNX-GBX), while raising his estimates for the company. The target price has been raised from 350p to 370p.

In a research note published this morning, the analyst mentions that the company has posted robust interim results, with y/y organic revenue growth of 14%. Phoenix IT's stock is undervalued at present, the analyst says. The EPS estimate for 2006 has been raised from 23.2p to 25p to reflect the robust interim results.

[ged5] 23/11/2005 18:59

Nick Robinson, chief executive at Phoenix, said it had been an encouraging start to the year and the company had widened services it offered over the period, especially in disaster recovery through the acquistion of NDR.

[ged5] 23/11/2005 18:56

0738 GMT [Dow Jones] Phoenix IT Group's (PNX.LN) 1H results are broadly in line with Shore Capital's estimates, says analyst George O'Connor. Says it's a steady performance, which is encouraging. Notes lack of news on its crucial Department of Work & Pensions contract renegotiation, which is a big risk factor and has pressured shares, but none was expected. Has buy rating. Shares closed at 286.75p. (NPF

[ged5] 23/11/2005 08:29

Highlights



• Revenue up 32% to £54.8m (2004: £41.5m)
- increase of 14% excluding acquisition of NDR

• Profit from operations before share option charges and amortisation of
acquired intangibles up 37% to £11.3m (2004: £8.2m)
- increase of 12% excluding acquisition of NDR

• Profit from operations increased by 17% to £9.6m (2004: £8.2m)

• Profit before tax up 25% to £8.9m (2004: £7.1m)

• Diluted earnings per share of 10.1p (2004: 11.0p)
- 12.0p excluding share option charges and amortisation of acquired
intangibles

• Interim dividend of 1.38p per share

• Order book £143.3m (2004: £108.2m)

• Net cash from operating activities of £13.7m (2004: £2.0m)

Highlights look good.

[ged5] 15/11/2005 16:33

No. Oh well.

Results out a week tomorrow which should be interesting.

From the results in May of this year.

"THE FUTURE

In this financial year we will continue to work closely with our customers
providing excellent service to end users. We will continue to develop
relationships with the offshore service providers and business process
outsourcing companies.

A particular objective is to offer the new disaster recovery and business
continuity services to our existing partner customers. We will also seek to
selectively expand the portfolio of services and facilities currently provided
by NDR.

Later in the year, our largest contract, with BT into the Department of Work and Pensions worth around £12m per annum comes up for renewal and is a key focus.

The outlook for our business is very positive and we are confident of our
ability to perform well again in the coming year."

Then from the trading statement on 27th September

"The trading results for the first six months to 30 September 2005 are in line
with management's expectations and the Directors remain confident in the
Company's performance for the financial year as a whole."

So we should have a good set of results. Whether or not we have news of the BT contract renewal awaits to be seen.

Good luck to anyone still in this.

[ged5] 17/10/2005 11:14

Little bit of buying interest today. Anyone heard anything?

[ged5] 27/9/2005 18:21

Slightly different wording to the trading statement.

Phoenix IT Group told the Stock Exchange that trading for the first six months to 30 September 2005 was in line with expectations. The firm's directors remain confident that trading for the year will be in line with expectations.

Negotiations with BT and the Department of Work and Pensions over renewing a contract worth £12m a year are still ongoing and the firm said it would make a further announcement as soon as a conclusion is reached. The contract expires 31 December 2005.

Interim results will be announced 23 November and will be the first posted under International Financial Reporting Standards.

[ged5] 27/9/2005 07:36

Favourable response to the trading update. Good to see the BT contract may still be alive.

Noticed Numis Securities have been added to the list of brokers giving a recommendation even if it is hold. No figures from them yet.
Shore Capital recently raised their recommendation to a Buy.

[ged5] 23/9/2005 09:05

Don't know but I thought it might have been to do with the BT announcements yesterday.

[olivepeel] 23/9/2005 07:52

anyone know why these have tumbled