Phsc Share Discussion Threads

[ntv] 20/11/2024 07:45

Pleased I sold out.
AGM statement gave the clues

[lehibou] 16/10/2024 13:45

The 64 thousand dollar question is;
Will he retain his shareholding?
or agree for the Company to buy them back?
or be approached by a third party(existing board member or predator)?
Interesting times as I hope the security division continues to improve as we look forward to the next results.

[russman] 16/10/2024 03:58

It is time for a change of strategy. Old CEO had run out of ideas.

[bisiboy] 15/10/2024 07:27

I wonder whether we might see some corporate action here.

[zangdook] 15/10/2024 06:48

Indeed.

Stephen King has 19.15%.

They have just appointed a "corporate financier" who has "successfully advised growth-focused companies on financial structuring, equity and debt capital raisings and M&A transactions" to the board earlier this month.

I assume the two board changes are related.

[russman] 31/8/2024 05:30

It's too small & there does not appear to be an acquisition strategy.
More like CEO retirement mission.

[lehibou] 30/8/2024 08:03

Marlowe plc turned themselves from a smallish company to a much larger one by buying many small companies in the service sector.They paid generous prices and the market liked the concept by awarding a high p/e ratio. They are currently being bid for themselves! PHSC were doing the same but got scarred by the switch from physical shopping to online when the security section made large losses. Hopefully it is now making consistent profits. They then repositioned to share buybacks and increased dividends to increase the share price to close to net assets. They could now do either a cash acquisition,issue shares with no asset dilution or agree to a takeover themselves. All to play for!

[russman] 30/8/2024 06:01

according to ADVFN, mcap is £3.5mn.
MBO would save all the listing fees & management time / expense of being quoted.
PHSC is too small, HQ overhead too large.
Appears to a nice group of small business with good cashflow.

[russman] 29/8/2024 05:36

management would pay more & save the listing fees

[arthur_lame_stocks] 19/8/2024 09:30

I'm not sure a trade buyer would necessarily want the whole group. As far as I can see it's basically a small collection of mostly tiny, unrelated consultancy businesses generally producing excellent margins. The real winners are the two founders.

[lehibou] 15/8/2024 18:43

I have been a shareholder for many years and have not sold any on the many recent buybacks. I like the cash generative nature of the business model and the consistent (and now dramatically increasing) dividend policy. Now that the security division has turned the corner I foresee possibly a 25% increase for the current year,remember it's goodwill was written down to zero. For a company with these characteristics I believe it should be trading in excess of its net assets. On my assumptions, 2.5p dividend, positive cash flow, increasing profits, I believe that a price of 35p (7% yield) is achievable.
Breaking up might yield more ,but a trade buyer could pay more.

[arthur_lame_stocks] 15/8/2024 11:07

I would guess that the only two notifiable shareholders other than the Directors have given up their shares in the buyback.

I reckon these shares are potentially worth far more if the group was broken up and sold off. It's a hotch potch of small consultancy businesses that would be better off in private hands.

Anyone else agree?

[russman] 03/8/2024 05:55

divi has been increased. trading appears stable.

[zangdook] 02/4/2024 08:02

173,617 is the number of shares bought from directors on 28 March, however the RNS states "the Buyback Shares above therefore include Ordinary Shares acquired by the Company from Stephen King and Nicola Coote".

They've forgotten to add them in to the total. Correction awaited.

[zangdook] 02/4/2024 07:43

The share count has decreased by 753,384 from 11,034,237 pre-bb to 10,280,853 now, so there must have been an unannounced buyback of 173,617.

[zangdook] 02/4/2024 06:51

Today's announcement makes no sense.

- The buyback was for £200,000.
- On 27 March they bought 353,384 shares ave 26.59p = £93,964.81.
- On 28 March they bought 226,383 shares ave 26.5p = £59,991.50.

Total £153,956.31.

How have they "effectively reached the authorised amount for the Buyback Programme"? Costs cannot be £46k.

[ntv] 26/3/2024 11:27

Some volume coming through today so presume it is the start

[ntv] 20/3/2024 17:13

Nice to see the buyback start again

[zangdook] 19/3/2024 07:55

"Any shareholders wishing to sell Ordinary Shares pursuant to the Buyback Programme should contact Novum on 020 7399 9427."

[lehibou] 19/3/2024 07:23

Good to see further buybacks. Another £200000. Still cash flow positive after all the increased costs mentioned in previous announcements.

[lehibou] 22/2/2024 14:57

Marlowe (MRL) disposal.Is this of any significance to PHSC ?

[ntv] 04/12/2023 20:55

lehibou
Let us hope this is the beginning of a sustained recovery for the business

[lehibou] 02/12/2023 23:26

Also the security division, that was a drag on profits, now looks to have turned the corner.If the cash flow continues to increase then I would not be surprised for a combination of increased final dividend and further buy back. Perhaps too optimistic, but the directors have a large percentage of their holdings in tax efficient rappers and the IR have dramatically reduced normal tax free dividends. A yield of 8% as well.Solid,high income,small companies are difficult to find.An earnings enhancing purchase would also help.

[ntv] 01/12/2023 17:13

THE COMPANY HAS RECENTLY INCREASED IT'S INTERIM DIVIDEND BY 50%
LAST YEARS FINAL WAS INCREASED BY 100%
NETT ROLLING DIVIDEND IS 1.75p
SMALL BUYBACKS APPEAR TO BE CONTINUING WHEN THE NETT CASH BUILDS UP AND THEY THEY HAVE NO OTHER USE FOR IT
TWO DIRECTORS HAVE PLENTY OF SKIN IN THE GAME

[russman] 17/11/2023 06:50

nice divi.