Printing.Com Share Discussion Threads

[richjp] 08/6/2012 16:06

The IC report published here a couple of days ago is in today's magazine together with a buy recommendation.

I thought the results were pretty good in the circumstances and I am impreseed by the various initiatives they have taken over the last eighteen months. Rafferty to me seems like a very capable bloke.

I am tempted to add a few more.

[spaceparallax] 08/6/2012 12:14

Nice response this morning

[sammy_smith] 07/6/2012 12:52

Hey guys,

I came across this audio interview with Tony Rafferty, Chief Executive at Printing.com

Its pretty interesting, its worth a listen:

[spaceparallax] 07/6/2012 09:54

Just seen the results - well done PDC

[puffintickler] 07/6/2012 05:00

tyranosaurus 6 Jun'12 - 08:07 - 1761 of 1763
...Will be interested to hear any views on the capital reorganisation.
It looks like the share premium account will be transferred to distributable funds.

You are right, it is just a technical issue to allow dividends to be paid.

[eburne1960] 06/6/2012 14:10

IC's view:

Printing.com goes online for growthBy Nigel Bolitho, 06 June 2012

The profit slide at design and printing specialist, Printing.com , shouldn't worry investors too much. After all, that fall was substantially less than the 19 per cent slide at the half-year stage and largely reflected increased depreciation and amortisation charge. Cash profit actually rose 19.9 per cent in the year to £3.43m and, even though the dividend was cut back, the payout still beat analysts' expectations and the yield remains impressive - leaving the shares attractive.

Still, Printing.com does face challenges. Sales of straightforward UK and European printing services, mainly through franchisees, were static in the year at £13.3m as competition from small rivals increased. That explains why management has spent the past 18 months introducing artwork products online. That growing online focus is paying-off, though, and online sales rose sharply, from £2.64m last year to £7.4m, helped by a full-year contribution from Dutch-based MFG - which was acquired in November 2010. What's more, two new on-line services contributed small but significantly higher revenues - as did franchised businesses in both France and Ireland.

Broker N+1Brewin expects pre-tax profit to rebound by more than 40 per cent in 2013 to £1.8m, giving EPS of 3p.

IC VIEW
Printing.com's shares have slumped since last July and now trade on a hardly pricey 8.5 times forecast earnings. There's also an impressive dividend yield, plenty of cash, and earnings are forecast to grow solidly this year. Buy.

[pugugly] 06/6/2012 08:26

Agreed more positive that expected but clearly indicating a contracting industry - Possilby OK for income but (imo) at the expense of capital erosion,

[tyranosaurus] 06/6/2012 08:07

Pleased with the dividend as I was expecting 1.05p final.
Will be interested to hear any views on the capital reorganisation.
It looks like the share premium account will be transferred to distributable funds.

[dd776] 06/6/2012 07:45

Rather Happy with it. Glad that the dividend was not halved. Only downside is the uk economy. Looks like a busy year ahead with more product launches. A big loss George Hardy but maybe a bigger name in the printing industry going to join the board. Hope for a bit of a bounce in the share price.

"Although the Group's Balance Sheet and cash flow from operations were strong and would have supported a maintained dividend the distributable reserves would not do so for this or appropriate future dividends and it is the Board's intention to take the necessary steps to undergo a capital reorganisation to address this issue. It is our intention to send a circular to shareholders to seek approval for the aforementioned capital reorganisation in due course."

Question: capital reorganisation WHY ?

[theophilus] 06/6/2012 07:08

Final results. More positive points than I had expected.

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[dd776] 30/5/2012 03:54

possible surprise, no cut at all, as costs on programme developement are reducing as are machine repayment costs. The bosses want a large payout as well rather than increase there base salary? A bounce back in the share price as " trading is as management expectation"

[cw2000] 29/5/2012 20:01

That's exactly where I guess the dividend will be set.
A 2.1p div for the full year still leaves a yield of 8.7% at 24p.

However, a div cut is likely to unnerve investors, despite this having been discussed several times in the accounts. Therefore, a fall to 20p is well within bounds.

All said and done, I'll not trade this one as the spread is always too large.

[tyranosaurus] 29/5/2012 19:03

I can see the final dividend being set at 1.05p compared to 2.1p thereby saving almost half a million pounds.

We haven`t got long to wait now.
I think the rest of the results will be much as before.

[dd776] 08/5/2012 14:09

more
Printing.com
Stand F13
Must-see W3P
Technology Cloud-based W2P platform
Why How many printing companies are exhibiting at Drupa, rather than visiting? At least one – Printing.com, which has the bold aim of reinventing the way print companies approach W2P. Its software seeks to address the main limiting factors of take-up of W2P – the cost and complexity of creating templates for variable print jobs. Chief executive Tony Rafferty is talking big, saying the system will "give all commercial printers a W2P system that works". The base of this confidence comes from the fact W3P is based on InDesign Server and so all templates can be built by a graphic designer using familiar tools, rather than having to employ some programming know how. Printing.com claims that anyone with knowledge of InDesign can create a W2P template using W3P inside 10 minutes with a minimum of training. It may be fun to go to the stand and see if that challenge can be met.

Can they turn it into making money ?

[dd776] 06/4/2012 12:56

and then the directors up there pay and the shareholders are left with .......

[richjp] 05/4/2012 18:35

The most important thing is will they still be able to maintain the dividend in future years. If there are clear indications that they can then I feel the share price will move forward.

This is a well run company operating in difficult markets, however if the share price continues to flounder I can see the directors taking the company private.

[dd776] 05/4/2012 14:24

same as last 10 years..... jam tomor....
big deal 100k on new .... always more of the same
can`t quite get there !!!!

[spaceparallax] 04/4/2012 09:39

Looks pretty steady

[knigel] 04/4/2012 07:33

Sorry it was a trading update not result..d'oh! Still fairly positive so the share price at least should be near/at the bottom?

[dd776] 04/4/2012 07:30

but then again !

[knigel] 03/4/2012 20:24

Maybe some excitement tomorrow when results are published??

[dd776] 03/4/2012 12:02

so much excitement

[theglade] 08/2/2012 15:08

Quite right - some would say print is dead not dying though, however look at sites like VistaPrint, Moo, PrintExpress this is the area printing.com is moving into, albeit a bit late in the day, I just bought PDC a few days back, not a lot at 28p. They have huge spare capacity, I would not write them off just yet.

[pugugly] 08/2/2012 14:13

Print is dying - electronic media is cheaper and some think more effective (I have my doubts) but not good for PDC. Possibly goin the way of the old litho repro houses. (imo & dyor) but in summary I guess while they may gain share they are in a declining market (intensified by the recession/depression)

May be able to give yield but at the cost of declining capital value.

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