Share Name Share Symbol Market Type Share ISIN Share Description
Phsc Plc LSE:PHSC London Ordinary Share GB0033113456 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -3.50p -26.92% 9.50p 9.00p 10.00p 13.00p 9.50p 13.00p 271,827 16:06:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 7.2 -0.7 -4.9 - 1.39

PHSC Plc Share Discussion Threads

Showing 826 to 850 of 850 messages
Chat Pages: 34  33  32  31  30  29  28  27  26  25  24  23  Older
DateSubjectAuthorDiscuss
22/5/2018
21:23
Welcome aboard Dd. Well it did pop yesterday on very small volume, so I wasn't far off on Friday... But then this strange flurry of trading today. I hope the seller(s) just took advantage of the recent spike to get out, and it was as simple as that; but cheeky from the mms considering by the end of trading (reported volumes about equal buy/sells) the shares were still well down (hopefully no more waiting in the ether). Anyway it was good to see people snapping them up. I thought about it, but the cynic in me just got the upper hand. We know a trading update is likely to be soon, and I'm rather hoping it's not early tomorrow! :) However at 10p while we know the Adamson's part will be rough, barring any other serious gremlins, then in my view 10p is a cracking bargain! I'm guessing an H2 loss and around break even for the year, (ignoring depreciation etc); but it will depend on other divisions such as the gem that is QCS, doing well. It is as I say only a guess, and intended to be a conservative one... ....Once Adamson's is out of the way, hopefully in the next results, then I believe the shares have a very positive future
microscope
22/5/2018
16:24
Back in after 4 years
dd776
18/5/2018
14:37
Put in a dummy trade for buying just 5,000 shares... 'No firm market quote available'.... ....Could be about to pop! EDIT: And minutes later, I get a quote at 'touch'. 14p
microscope
17/5/2018
14:16
Not me, but good to see some movement
spursspurs
16/5/2018
17:58
Single trade, a late in the day buy reported on of 50k at full price. Any of you? ....The trading update was in this week last year, (though has been June sometimes in the past).
microscope
03/5/2018
09:56
I agree meijiman the spread is 'killing the goose', not to mention taking the pee.... (In reality nearer 2p but still your point is more than correct!) However I think you have to decide what you think is fair value, and where we might be in, say, 1-2 years time in terms of the company. Adamson's will be behind them and hopefully the rest, particularly the QCS division, purring along rather nicely. My idea of fair value, on these two measures, is well above 20p, (a market cap of under 4 million even at 25p remember, with a chance of a dividend at next interims) and therefore I still think that at this price the shares are well worth buying, despite as you rightly point out, the crass spread. Although I am loaded up fairly fully, I'm like battlebus, silently watching/waiting.... Suspect there could be a 'fastest finger first' were the share price to drop much from here!
microscope
02/5/2018
13:49
9-12p..who would buy/sell on that basis?
meijiman
23/4/2018
11:46
Does anyone know if they ever attend investor shows?
michaelx105
18/4/2018
19:11
Silently waiting/watching 👍
battlebus2
18/4/2018
18:57
Thanks chaps -very helpful posts.
meijiman
18/4/2018
15:51
Thanks Microscope for the detail etc. The long and short of it is that the shares should be more like 20p in a year's time (maybe!!!) when Adamson's problems are behind us, QCS is going well and the yield is rising. Then again .... :-) Fingers crossed.
value hound
18/4/2018
15:41
Good to know others are following - gets lonely round here! :) Meiji I summarized in the header the situation with Adamson's, as reported by the company. It is in effect the elephant in the room and the reason for the low valuation. However now carried at zero, i believe, and the finals will incorporate the final losses from the division, and leave them with a clear path ahead for the other subsidiaries. (see above for the details on Adamsons). One of the two plants will be sold. As I also mentioned in the header, the QCS subsidiary looks to be worth several times the company's entire market cap imho. If people have a medium term outlook here, i think they will be amply rewarded. You're right VH, the trading update was in May last year. I checked the last three years the other day, twice in lateish May, once in June. I would expect similar, though they might delay it until the Adamson's rationalisation is complete, which it should be in time for results.
microscope
18/4/2018
15:21
Finals will be early August but they'll probably update on trading in late May (this was the case last year). They tend to be a bit patchy and have warned, somewhat, now and again. But it's still materially undervalued IMO. They're way too small to be listed obviously - but the historic yield is 10%, so worth holding for that alone if they get back there. If it was sold too cheaply - it would still be over 20p IMO.
value hound
18/4/2018
14:54
This looks to be an interesting company but there is little news. When is the next set of figures due. If Adamson's gets sold will improve the bottom line?
meijiman
02/3/2018
18:27
We recently changed adviser to Strand Hanson. Not sure if they can act as brokers too
microscope
02/3/2018
12:12
We’re on the lookout for a new broker hTTps://www.investegate.co.uk/phsc-plc--phsc-/prn/statement-re-broker/20180302120208PE7D6/
battlebus2
23/2/2018
22:33
Understand fully where you're coming from. However the market cap in that it doesn't remotely reflect reality isn't completely the BOD's fault. They do have the Adamson's situation to finalize, which is very close to closure now, and we'll then see (in my view) a market cap that justifies the listing. It's not an overnighter and certainly not a trading stock, but I wouldn't hold/accumulate if I didn't believe that in the next 12-18 months this really will be properly rerated. I'd be amazed if nobody is looking at QCS, and were someone to make an offer, it would in my view be far in excess of the company's entire current market cap. I think the QCS subsidiary (see info in header if you are new to the company) is a little gem, a sitting duck for someone!. An offer of £5 million, given their current numbers, and outstanding projections for that division, would look mean to me, yet this entire company's market cap is less than £2 million.
microscope
23/2/2018
20:55
I have a few shares here because I think it's dirt cheap on a sum of the parts basis. I also think it's too small to be listed and ought to be sold off and the cash returned to shareholders. Unfortunately the BOD appear to have enough of a stake to stop any shareholder activism in its tracks which has put me off buying more.
arthur_lame_stocks
23/2/2018
13:38
One good thing about a company this size, which rarely gets mentioned on these boards, is that it gives some PIs the chance to build a 'meaningful' stake. For example 0.5% of the company at 12.5p would cost under £7,500. Fully respect that we all have our personal investment amounts and that for many that would be too much. Even 0.1% though would 'only' cost £1500 - or 1% £15,000. Obviously 3% is the declarable threshold and the voting rights are still rarely likely to be decisive, but a sense of being 'part of the action' I think can be an enjoyable part of the whole buzz of investing.
microscope
19/2/2018
21:26
👍 microscopes
battlebus2
19/2/2018
19:36
Well I was bidding for a few at 11.4p FWIW but no dice.
value hound
19/2/2018
18:52
Nice to see some flickers of life today. Perhaps most interesting was the additional late tick up with (so far) no sign of a trade around that time.
microscope
10/1/2018
11:02
Thanks Micro :)
spursspurs
10/1/2018
10:49
I was unable to redo the header (just change article option) so I hope you guys don't mind, have re-done the thread with a new header and will close this one. New one here https://uk.advfn.com/cmn/fbb/thread.php3?id=42159291
microscope
10/1/2018
10:47
Thread re-written due to issue with previous header. It's been over 12 years on the current active thread.. So i think PHSC is a deserving candidate for a new makeover! The company is involved in Health and Safety, and the parent company has grown by acquisitions over a period of about 30 years. One of them (all will be revealed later in this post...) is a hidden gem imho, and the key reason for my investment here. There are eight sub-divisions, and a summary of each can be found in last month's interim results here: hTTps://uk.advfn.com/stock-market/london/phsc-plc-PHSC/share-news/PHSC-Plc-Half-year-Report/76226577 which showed an ebitda profit of just under 200k overall, and a dividend of 0.5p a share, with cash at period end of £129,000. With just under 14.7 million shares in issue, and a share price of a mere 12.25p at the time of scribbling this, the market cap is a miniscule £1.9 million, so the dividend is unusual for a company of this size. Pro forma nav was no less than 38.7p per share at these interims. So you're looking at these numbers and wondering why the market cap is quite so low.. Something doesn't add up.... .....You're right of course. The catch is Adamson's laboratory, one of their divisions, specializing in asbestos management. It imports materials and the falling pound has hammered them. Despite hefty cuts and lay offs, parent management concluded that 'they are unable to come up with a successful turnaround plan, and as a result, one of the two plants will be closed, with disposal of the factory. Costs will be in the second half of the year, including redundancy payments.' The first half loss in that division was £71,500 including redundancy cost, and it's clear there's more to come. The other plant will move to an intermediary business with a skeleton staff. The 2016 finals included around a 500,000 writedown of the Adamson's business. However a note to the 2016 accounts said that it from then would have "zero carrying value" ie no further goodwill writedowns. So it will just be costs. Of course it will hurt the second half and therefore year end results. The spread can be brutal, anything recently from 0.5p to 3p, depending on which market maker is on the bid/offer etc at any given time. That's the bad news. The Better news is that six of the other seven other divisions are trading profitably (a couple of them marginally, the other four healthily), with strong growth in the B2B field. The only other losing division was a tiny 19k loss because of the costs of adopting updated accounting standards. It will be borderline I think whether they make an overall profit for this year given the Adamson's situation, but in six months time that will be behind them, and they will be able to sell the closed plant at some stage. Even so yield is 4% (xd currently) if they don't pay a year end divvy. One division really stands out for me. And this is where I would argue, very strongly, that PHSC's 'hidden value' is actually pretty special at the current share price, even accepting the short term difficulty of the Adamson's situation. Here it is: (Remember this is just for SIX months!) QCS International Limited Invoiced sales of £372,100 yielding a profit of £145,900 (the figures for the same period last year were £258,600 and £67,300). And then you read the statement "There are high expectations that QCS will continue to exceed targets for sales and profits in the delivery of quality management consultancy and training services. Sales are already looking promising with high levels of training already secured, and additional income expected from new consultancy projects recently won" I can assure you, Stephen King (CEO of overall company PHSC, and very experienced, also owns about 22% of the equity) is a born pessimist, I followed this company back in Ofex days some 15 or so years ago. it's the most bullish statement I've ever heard from him. Were QCS ever to be floated off, it would imho on these numbers float comfortably for a whole lot more than the entire £2 million market cap of the whole company (and that is why goodwill and nav is actually valuable in PHSC's case). For anyone able to take a longer view, the market cap looks to have discounted far too much. net assets are in the region of 25p a share and although cash is £129,000 at the report date, the fact they felt able to pay a healthy divvy suggests it is not a concern. They have a guaranteed but uncalled up loan of £300,000 from HSBC too. If they ever took the business private (a stick posters have used against them for ten years) shareholders would imho certainly get more than 12.25p. Won't happen in my view anyway, they could have done it years ago and have never shown any interest in doing so. You almost invariably get a warning sign of these situations, a company will start moaning about listing costs. Has never happened here. I could see them making £250,000 when they announce the interims in a year's time, with a decent second half ahead. As always, dyor, caveat emptor and all imvho. All info in this post is in good faith, but I am an amateur investor, so please verify for yourselves and am happy to correct or update any errors/omissions that you spot.
microscope
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