Pressac Share Discussion Threads

[dubbsie] 18/10/2004 10:15

If they can sort out the tax issue that would significantly improve cash flow and enable them to start reducing the debt. They are very profitably at an EBITDA level.

[jack.f] 18/10/2004 10:09

More red this morning ,down another 0.125p with very little volume. I would have expected the share price to stabilize after the drop when the interim were announced. With the company's statement at the interims and Webb's statement just before that you would think that there are better times to come? And lets not forget Webb has his own man on the board. If Webb thought there was no change of recovery I would expect he would have off loaded some of his stock or would have tried to do a deal with TT. There must be some value some were in Pressac even if it is the 18p NAV.
Come on lets hear some opinions on Pressac.

[the knowing] 17/10/2004 20:28

Wonder if we will see the end of the T+ selling out this week.

[boll] 16/10/2004 00:37

Does anyone know the split by quarter of the first two quarters profits making up the half year.

The high tax charge implies some parts of the group are trading very well with other parts making substantial losses

[jelfsie] 12/10/2004 18:46

Jack.f (post 217): Is that a serious question or are you haveing a dig?. In case it is the former: Rough guide is Operating Cash FLow = EBIT + Dep + / changes in WC. Safe to say WC changes will be minimal this year (got to run a tight ship) and Dep currently running at same as last year (no new CAPEX because there is no money).

[jack.f] 12/10/2004 18:19

Well we seem to have more buyers than sellers but they still mark the stock down a 0.25p.

Hooley, I hope you have got this one right and we see some positive action soon. The directors and Webb seem to be singing from the same hymn sheet, I would expect some sort of positive interest soon or will we have to wait until next year?

[jack.f] 11/10/2004 18:40

According to my stockbroker the 800,000@5p on a WV trade was not done today. He said it was done last week some time and has just been reported today.

[partner] 11/10/2004 16:07

Would be nice to think that 800k going through was the last of any overhang being cleared next few days may reveal more !!.

[the knowing] 10/10/2004 22:36

Oversold ?

[wal footrot] 08/10/2004 18:30

Dubbsie

sorry, how about putting a chart in the header, makes it easier for those of us with lazy fingers.

Ta

wal

[hooley] 08/10/2004 18:02

See my note 195 of 29/9, this group looks likely to be generating free cash flow next year. After financing capital spend and payment of interest they can start to shrink the debt pile. Bankers won't let company pay dividend yet, though if share price gets above net worth - say 20p - then a modest resumption of divis, on the back of a rights issue, is logical. My guess is this will be next year, after the next annual report is published. Meanwhile, the directors need to buy a few to show confidence in their interim statement of better things ahead. There's an outside chance that TTE will make a bid for the business once the threat of receiver going in disappears.

[jack.f] 08/10/2004 17:31

Thanks for that jelfsie, can I ask you how you know that?

[mcfctrader] 08/10/2004 14:36

T10's from the 28th September being closed today.

May be a few more sells this afternoon.

I'm holding my buy from the 28th. Target 13p - got to be happy to double your money.

[jelfsie] 08/10/2004 13:38

Big depreciation charge circa £9M.

[jack.f] 08/10/2004 12:57

Broker forecast, interesting to note cash flow per share for 2003 is 3.21p and 2004 is forecast at 8.81p per share, more than double the 2003 amount but eps -0.41p go's to -1.96p for 2004. Can some one explain these figures.


Broker forecasts
Broker consensus No. of brokers Total %


Buy Recommendations * 0 0.00%


Weak Buy/Overweight Recommendations * 0 0.00%


Neutral Recommendations * 1 100.00%


Weak Sell/Underweight Recommendations * 0 0.00%


Sell Recommendations * 0 0.00%






Consensus estimate data........ 2003 2004 2005


Sales median (ml) ...........132.52 133.50


EPS..........................-0.41 -1.96


EPS growth..................... 0.00 0.00


Net dividend....................0.00 0.00


Total Earnings.................-1.76 -1.70


Cash Flow per share.............3.21 8.81


p/e ratio.......................0.00 0.00


Dividend Yield..................0.00 0.00

[the knowing] 07/10/2004 14:13

jack agree with you and if they can turn it around then the upside will be pretty good.

[jack.f] 07/10/2004 14:00

Short term, the only thing that will more Pressac is a bid from TT or good news coming out of Pressac. Medium term we may even see both. It is high risk put @6.5p there is a great deal of potential up side if what Woodwark has said comes true. imho.

[the knowing] 07/10/2004 13:39

Small buys comming in. Will be interesting to watch online prices to see how they move this.

[the knowing] 07/10/2004 11:44

PRESSAC FIGHTS FOR CUSTOMERS
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BY RICHARD BAKER

16:00 - 29 September 2004
Pressac's Nottingham-based communications division is looking for new business after suffering at the hands of Far East imports.

The division, which employs 140 people in Bilborough, is being repositioned to tackle higher growth sectors, group chief executive Chris Woodwark said today.

Its factory in Glaisdale Drive West manufactures communications hard points and control systems.

But sales have fallen by more than 20%, hit by cheaper imports from the Far East and by one of the areas it had hoped to win business from being "less robust than previously anticipated", Mr Woodwark said.

"What we are finding is that people in the Far East are going through our product range and seeing if they can make it more cheaply," he told Business Post. "It erodes our margins because we have to face this competition with a UK cost-base.

"We are fighting to demonstrate to our customers that we have got the right quality in our products and that if anything ever does go wrong they have got someone locally they can come to rather than it being someone far away. We have a good manufacturing base in the UK and it is our long-term intention to maintain that."

Pressac Comms had been hoping to win new business "with a new product in a new field", said Mr Woodwark, but this had not progressed as fast as he had hoped.

But he said the firm's Nottingham division was continuing to make progress targeting new high-growth areas.

He said: "What we are doing is looking at the whole area of demotics and domestic requirements as people put more and more electronics into their homes. This covers new build offices but there is also refitting as people rewire.

"Communications ebbs and flows, but I am basically optimistic about it and we are maintaining employment levels."

The news came as parent company Pressac plc, a stock exchange listed company, revealed a standstill in turnover and a drop in profits for the six months to June this year.

Year-on-year sales fell £200,000 to £67.5m, while operating profits dropped from £3.4m to £2.7m.

The communications division is one of the smaller parts of Pressac's overall operations, which are largely centred on the supply of electronics and decorative products to the automotive industry from plants it owns overseas.

Mr Woodwark said: "Sales are up in local currencies in automotive electronics and decorative products, so we are moving the right way, although exchange rates don't help us. We are expecting to meet our internal forecasts for the year."

[dubbsie] 07/10/2004 10:59

I would have put charts in my thread if you had asked.

[the knowing] 07/10/2004 09:00

WF could be one to buy and tuck away waiting for a bid I suppose. Let the vultures circle and see what comes out of it.

[the knowing] 07/10/2004 08:15

There has been one tick up already and I think another will confirm this is going to move. Let's see what happens.

[wal footrot] 07/10/2004 08:11

yes,

decent volume on the drops too.

TT have been interested for ages though, and nothing has ever come of it.

Not denying its a decent chance, but i want to see an end to the downtrend before i jump in.

[the knowing] 06/10/2004 23:04

If you were a chartist you would see this as a buy on the oversold position. Less than 100M shares in issue as well.