Printing.Com Share Discussion Threads

[spaceparallax] 17/7/2008 20:56

Furthermore, if they introduce printing to the sheep community there, we could have many millions of customers!

[tyranosaurus] 17/7/2008 19:47

NZ has a hell of a lot more people and PDC outlets than Iceland and Iceland got a mention.

[topgallant] 16/7/2008 17:28

Thre is not much point mentioning NZ the market is tiny

[tyranosaurus] 16/7/2008 13:48

They can`t even get the facts right.
Why mention Australia ?
What about New Zealand ?

It will take more than this tip to send the share price up.
There are many forced sellers out there.

[spaceparallax] 15/7/2008 15:38

UK Analyst tip of the day:-

"Buy Printing.com at 33p

An exclusive tip from Scarlett Moore of Sharecrazy's Supermarket

There are not many companies out there that have net cash, strong growth prospects and pay a whopping dividend, but Printing.com ticks all of those boxes. The company is a specialist printer, which sells its services mainly to small and medium sized businesses. At the start of June, there were 261 Printing.com outlets in the UK and Ireland, which were mostly franchises.

The company operates in a slightly different way to other printing companies. Instead of having printing equipment in its stores it operates from a central hub located in Manchester, where work is completed and then delivered to the customer within a couple of days. Through a master franchise programme, the company has also expanded into France, Australia and Iceland.




The company's most recent results covered the year to 31st March 2007. Over the period total retail sales rose by 15.5% to £24.58 million as its number of outlets grew by 25.8% to 249 in the UK and Ireland. Over the period turnover, those sales due to the company rose by 11% to £13.48 million, with pre-tax profits increasing by 5.7% to £2.42 million and earnings per share rising by 2.5% to 3.64p. Pre-tax profits grew at a lower rate than turnover due to a higher depreciation charge and other costs associated with an expansion of the company's Manchester Hub. The total dividend for the year was 3p, up on the 2.5p paid in 2007. Cash generated from operations was very strong at £4.06 million and the company ended the period with net funds of £1.08 million compared to a net debt position of £0.23 million at the end of March 2007.

Printing.com added that trading has softened since the year-end but revenues are still ahead of the corresponding period last year. As over 90% of orders come from client promotional activities, the company has attributed the softening to a drop in confidence in the SME business community. However, the rate at which new Bolt-on Franchises are being granted in the UK and Ireland since March is said to be encouraging, with 14 granted since the year end.

With the extra capacity in place at Manchester, and minimal capital expenditure requirements expected this year, I think that pre-tax profits can rise significantly going forward if revenue growth can be maintained. The company remains financially strong and it is especially good to see the net funds position growing despite dividend payments of £1.3 million and capital equipment payments of £1.26 million over the year. Going forward, trading conditions in the UK remain uncertain but with the franchise model facilitating rapid expansion at home and creating opportunities for growth internationally the company has good prospects nonetheless. In the current year to 31st March 2009, Printing.com is expected to post revenues of £14.7 million, with pre-tax profits of £2.7 million and earnings of 4p per share.

*The value of investments can go down as well as up. Past performance is no guarantee of future success. Investing in equities can lose you part or all of your capital. The tips given here are of necessity, general. They cannot relate to the individual circumstances of investors. Anyone considering following the recommendations contained here should seek independent advice. Investments in smaller company shares, by their nature, can be relatively illiquid and thus hard to trade. And that makes such investments more of a high risk than larger company shares.

At the current price of 33p the shares trade on a current year multiple of 8.25 times earnings and have a historic yield of 9.1%. If the above forecasts are met we could see a dividend of 3.5p this year due to the company's progressive dividend policy, meaning that the shares have a highly attractive prospective yield of 10.6% at the current price. We must be wary of the thin interest cover of just 1.2 times earnings but with minimal capex needed going forward this is a company that has no need to retain cash when it already has net cash on the balance sheet, so the low dividend cover is acceptable. Overall, Printing.com looks fundamentally strong, cheap on an earnings basis and offers a decent income. It is a clear buy.

Key Data
EPIC: PDC
Market: AIM
Spread: 32p-34p (5.9%) "

[pugugly] 10/7/2008 14:39

T:> I sold at 48p in Feb as managemetn were rumoured to be considering a buyback. Glad I did. I was looking to get back in but in view of managements very short term action (imo and you are of course welcome to yoru own views) I will not reconsider until they are significantly south of todays price.

[tyranosaurus] 09/7/2008 20:27

PUGUGLY

If you think they are fools then sell your shares and invest someone where the directors think like you.

[dd776] 09/7/2008 16:36

a well invested 180k. good for the future of the shareholders.

[spaceparallax] 09/7/2008 13:53

If it works and mops up the slack then it was the right decision, if not then perhaps it was ill-conceived. In the current Mkt anything is possible.

[tyranosaurus] 09/7/2008 10:23

They obviously had to mop up the seller of 471632 shares to prevent the share price sinking.

[spaceparallax] 09/7/2008 10:20

PDC are obviously very happy with their cash position to have spent £180K on yesterday's buyback. Hopefully might trigger a mini revival.

[tyranosaurus] 08/7/2008 18:19

Interesting trades at 2.57pm today totalling 1027404 shares.
Unsure what it means but will look out for an RNS soon.

At 33p these are on a yield of over 10% based on forecast dividend of 3.5p.
They have the money to pay the dividend, unlike some high yield stocks.

Will wait for the AGM statement to see what the current trading is like.

[slapdash] 06/7/2008 16:53

tyranosourus - sure companies usually have options but not usually at a low exercise price... it looks like the excise price here was low... which is very damanging as there was no incentive and it was really just a hidden salary....... if anyone can find the excise prices in the annual reports I would be most interested...

Slap

[tyranosaurus] 04/7/2008 12:11

There are several mentions of options. It amounts to several million shares.

Time for PDC to have another buyback as they`ve only got 75000 shares left as treasury stock.

[pugugly] 30/6/2008 16:44

re options - Suggest they may be related to

Share based payments
The share option schemes allow employees and certain franchisees to acquire shares of the Company. The fair value of options granted after 7
November 2002 and those not yet vested by 1 April 2006 are recognised as an employee expense and for franchisees as an operating expense
with a corresponding increase in equity. The fair value is measured at grant date and spread over the period during which the employees
become unconditionally entitled to the options. The fair value of the options granted is measured using an option pricing model, taking into
account the terms and conditions upon which the options were granted. The amount recognised as an expense is adjusted to refl ect the actual
number of share options that vest except where variations are due only to share prices performance not achieving the threshold for vesting.

See accounts page 40



though I ahve been unable to find out total overhang of options in this catagory, though it would appear that they are being supplied through purchases in the market and then issued ex treasury rather than the issue of NEW fully paid shares.

Interesting - Any accountant care to comment.

[slapdash] 28/6/2008 00:13

tyranosaurus - indeed... i.e. they are saying we bought back 400,000 shares but just gave 300,000 away to someone else.... third party agreement.. ur what is going on there... slap

[tyranosaurus] 27/6/2008 17:45

I didn`t know they had any third party option agreements.
Hope they haven`t got any more.

[spaceparallax] 25/6/2008 18:30

Wash,

You could be right, although it's probably a little short-sighted (excuse the pun).

[spaceparallax] 25/6/2008 11:28

Surprised to see this morning's dip - certainly not a true reflection of the business and its prospects.

[tyranosaurus] 21/6/2008 12:46

How come there were 2 trades of 200k at 38.75p within one minute of each other on 18 June when the RNS says 200k share buyback ?
Surely they are connected, so was the other 200k a sell ?

[dd776] 19/6/2008 14:57

can anybody please tell me the date of the a.g.m Thanks

[theophilus] 19/6/2008 07:46

A really good analysis of the companies results for the past year and well argued analysis of the future progress at:-



Cheers

Th

PS Press control when clicking on link.

[spaceparallax] 18/6/2008 15:47

Presumably the 2 x 200K @ 38.75p, 1510hrs are share buybacks?