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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Project Telecom | LSE:PJT | London | Ordinary Share | GB0009668905 | ORD 0.25P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
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|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.00 | - |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | 0 | GBX |
Project Telecom (PJT) Share Charts1 Year Project Telecom Chart |
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1 Month Project Telecom Chart |
Intraday Project Telecom Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 26/2/2007 | 20:14 | Project Telecom - Vod sniffing @ 70p per share? | 121 |
| 15/7/2003 | 17:09 | Project Telecom - Trust me is a gold share at 40p | 9 |
| 02/7/2003 | 18:32 | VODAFONE 70P SHARE BID | - |
| 11/6/2003 | 19:05 | Project Telecom - First post float results due Feb 28th | 228 |
| 01/6/2003 | 10:04 | pjt is going to shoot up to 60P to 70P | - |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
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Posted at 07/8/2003 11:15 by potentials i am also tempted to come out and get the money now to put elsewhere .... will first await timetable to see just how long i may have to wait if i wait around for the full 70p.... as even 1p off costs me more than 500 quid.(iampoor - worth a look is mmc - results out next monday but be careful as sales warning on 04/07/03 lead to drop to 30-31.5p at which shares have stayed since - IMHO best not to buy before results issued but depending on the actual interims on monday 11/08 and the resulting share price movement it is worth researching and keeping an eye on - DYOR.) |
Posted at 05/8/2003 22:02 by 37dolphin iampoor70p was too easy for VOD, i expected that they would have to fight a bit harder for PJT, the shareholders that own the 60% must have been keen for exit, clever tie in but why have the £1.6m payout to VOD (check the info on press releases) if there is another bid - perhaps its not quite as committed as we think..... US had a bad day, so may wait before re-investing. I'll watch for a day or 2 then sell upto 3/4 of my holding. We will only gain a further 2% return by holding on if really is a done deal, if loop holes, then maybe more interest. Would like to find another company that has had a profits warning/restructure but has a sound balance sheet (as PJT did). Enjoyed the banter. will post here again when i've made next decision on stock. |
Posted at 03/8/2003 16:46 by 37dolphin Hi guys, all keeping eye out this weekend!The £145m is the current market cap ie 65p. 70p a share imo is too cheap:- 2003 forecast of £155m turnover? 2003 forecast of £14m pre tax profit? 2003 forecast of £20m net cash? 2003 forecast of £21m EBITBA? A value of £155m would mean forward multiples of:- 1x turnover 11x pre tax profit 7.75x net cash 7.4x EBITDA A value of £222m would mean forward multiples of:- 1.4x turnover 15.9x pre tax profit 11.1x net cash 10.6x EBITDA Some EBITDA comparisons (based on last y/e info):- TEP 22x THUS 12x VOD 9x OOM 5x IMO, in the US, ave pre tax profit acquisition multiple is 15x. In all our minds though is the trading statement a few months back which stated that pre tax profits for the current year would be in line with last years for continuing business. Since then, the company has sold PTD (which enhances pre tax profit (as PTD made an operating loss), and bought IMS (with 9 month sales of £10m). These last 2 deals should increase pre tax profit from £12m to £14m if all else stays the same as 2002. With mobile customer acquisition becoming ever harder, purchase of other companies makes sense.......I don't think a price of 70p for PJT would secure a deal.... |
Posted at 31/7/2003 06:20 by banj Project Telecom dialled higher as suitors prepare to callBy Michael Jivkov 30 July 2003 The main focus for market gossips yesterday was without doubt Project Telecom as talk circled City dealing rooms that a formal bid for the group is just around the corner. The company, which provides mobile and fixed-line telecom services to corporates, saw its share price respond to the speculation by putting on 2.5p to 61.5p. Earlier this month Project Telecom announced that it had received several bid approaches. Word has it the company is, in effect, being auctioned off to the highest bidder and its is believed that the blue blooded merchant bank Rothschild is managing the sale. There are said to be as many as six contenders looking to gain control of the company and leading the pack of suitors is Vodafone. Some in the market reckon the mobile phone giant is willing to pay up to 70p a share in order to win control of the group. The sale of Project Telecom would make Tim Radford, its founder and chief executive, a multi-millionaire given his 24 per cent stake in the group. However, it has been far from plain sailing for Mr Radford. In April, Project Telecom shares halved after a profit warning. At the time the company complained that it was facing tough competition in the business market from mobile phone operators such as T-Mobile and Orange. nice work potentials - article reproduced from independent (also available from link in header) HOLD for at least 20-25% to come IMO |
Posted at 30/7/2003 08:36 by 37dolphin agree, something going on behind the scenes, edging up today, but can't see why.The next numbers release was due on 29th Aug. If we separate 2 issues, IMO:- 1. Y/E forecast - analysing the expected y/e numbers forecast, the share price should be > 70p. 2. Bid approaches - the value of the business should be nearing £1 per share, depending on how many bidders there are. Even if there is no bid, I think the share price is returning to where it should be........... |
Posted at 15/7/2003 07:16 by 37dolphin iampoor,some comparative EBITDA multiples from telco sector, which I have calculated based on last y/e results:- OOM - 5.4x VOD - 8.7x TEP - 21.6x THUS - 11.2x I would have thought that PJT is more similar to TEP & THUS than OOM/VOD. Note - OOM, VOD, & THUS did not make profits last y/e, PJT and TEP did. |
Posted at 14/7/2003 22:11 by songtrader RNS says Fidelity topped up recently with 200k and now holds 3.9% of PJT shares. Are Fidelity good guys or are they looking to cause trouble? Could they be the ones talking to buy PJT? |
Posted at 14/7/2003 12:42 by banj Project Telecom leaps on bid approach Fri Jul 11 15:45:12 BST 2003 Project Telecom's downturn in fortunes looks like becoming someone else's opportunity after the mobile services provider admitted today that it has had a bid approach. The news sent shares (PJT) up 7p to 56p, well ahead of the 34p lows they found after the company issued a profits warning in April. The shares have been rising rapidly this week, prompting Project Telecom to admit that it has received a preliminary approach that may or may not lead to an offer for the company. The company would not say any more today, but it looks as though someone was looking to take advantage of the slump in the company's valuation. Until April, Project Telecom had appeared to be building a very successful business providing mobile voice and data services to business customers. Project Telecom offers advice, consultancy and support to both large and small businesses wanting to provide the right equipment to their workforce for both mobile voice and data services. The company does not own any of its own infrastructure, but buys airtime wholesale and it is Project Telecom that manages the relationship with the corporate customer. And this is precisely where the problems have come from. As competition between the mobile operators has got tougher, so they have begun to undercut each other, and consequently Project Telecom, which buys airtime from Vodafone and mmO2. Chief executive Tim Radford told Citywire in April that: 'There has always been a fear that we could get squeezed at some point, and after ten successful years of growth we've had a tough couple of months.' Radford said the 'squeeze' was coming from T-Mobile and Orange in particular, both of which are aggressively slashing prices to entice business customers away from the likes of Vodafone and O2, and in turn therefore Project Telecom. As part of the aggressive price wars, and in answer to the Competition Commission's ruling that the operators had to cut their cut their termination charges - the fees they levy on other operators for a call made to their networks the operators cut the connection commissions they were paying to Project Telecom 'significantly,' in some cases by more than ?50 per customer the company said. Last year Project Telecom turned in profits for the year to December of ?14 million before goodwill and exceptionals on its continuing businesses, and had been expected to grow that to around ?18.7 million this year before warning in April that profits for this year would be flat on last year. So who might be interested in buying the company? Well the most obvious candidates would be one of the mobile operators themselves. Since there is an ever decreasing amount of new business to be won, mobile operators are looking to increase the amount that existing customers spend with them, and attempt to prevent customers defecting to the competition. To do that, they really need to 'own' the relationship with the customer. Project Telecom's business users would be of great interest to any of the operators. Vodafone might boast a huge market share, but the majority of its customers are private customers. The business market is the one that ultimately will have more use for the precious data services that make optimum use of the new 3G networks. Vodafone and O2 already have a relationship with Project Telecom, so either might be a candidate. Equally Orange and T-Mobile are getting aggressive in their quest for market share, and then there's 3, the new entrant from Hutchison, which might want a ready-made business audience for its 3G services. As the company said, it is early days. Citywire Verdict: In April, Citywire advised investors to let the dust settle and see how things looked in a few months. Shares were then 41.5p. Clearly, if the bid, or any other bid, comes to nothing, the company will have a fight on its hands this year. But at this early stage, it looks worth hanging on for further news. continue to hold IMO ;-) |
Posted at 08/7/2003 10:24 by 37dolphin Check this out:-Sales 2002 - 315m 2003 - 152m (latest analyst forecast) Note - sales reduction due to closure of retail business (high turnover but low margin), now concentrating on higher margin corporate services business. Pre Tax Profit 2002 - 12.5m 2003 - 15.2m (22% increase latest analyst forecast) EPS 2002 - 3.29p 2003 - 4.3p (31% increase latest analyst forecast) Share Price March 2003 - 70p March 2004 - ???p |
Posted at 01/7/2003 21:44 by banj .Arawak Energy. 2Q06 results strong, production risingArawak Energy reported 2Q06 Canadian GAAP results yesterday, which showed very strong revenue and cash flow growth, both y-o-y and q-o-q, and underscored Arawak's ability to profit from rapidly growing output and high oil prices. Production averaged 7.54mbpd in 2Q06, up 19% q-o-q. It was 2.5% lower than earlier reported by the energy ministries of Russia and Kazakhstan, although slight differences between energy ministry and company data are very common. Arawak production strong, in line with official data In bbl mn 2Q05 1Q06 2Q06 (Ministry of Energy of RF, KZ) 2Q06F % chg. q-o-q % chg. y-o-y Actual vs. reported by MoE Pechoraneftegaz 5.8 6.8 7.0 Altius Petroleum 2.0 3.0 4.2 Arawak Energy 4.9 6.4 7.6 7.75 19% 32% -2.5% Source: Company data, Aton estimates Revenue increased 23% q-o-q and 143% y-o-y to $34.2mn. Due to the discretionary nature of crude deliveries sales volumes were 4% lower than production, hence the slight shortfall in revenue (and an inventory build), which is likely to be reversed in subsequent upcoming quarters. Operating expenses rose 34% q-o-q and 82% y-o-y to $17.1mn, exceeding our estimate by 7% due to high non-income tax expenses, which in turn were caused by the higher than expected export/domestic sales ratio in Russian crude deliveries (40%, compared to our estimate of 20%). EBITDA rose 13% q-o-q and more than tripled y-o-y to $17.1mn. Operating cash flows were surprisingly strong at $16.4mn, exceeding our expectations. Options issued to management in April resulted in a $1.1mn paper loss, and net income was reported at $5mn, slightly lower than 1Q06 but a nine-fold increase y-o-y. Adjusted net income was $6.1mn, 13% lower than our estimate. Strong q-o-q, y-o-y growth in revenues, cash flows In $mn 2Q05 1Q06 2Q06 2Q06F % chg. q-o-q % chg. y-o-y Actual vs. Aton Dated Brent, $/bbl 48.11 61.96 70.63 14% 47% Revenue 14.08 27.87 34.18 35.05 23% 143% -2% Operating expenses -9.36 -12.76 -17.08 -15.95 34% 82% 7% EBITDA 4.72 15.12 17.10 19.10 13% 262% -10% EBITDA margin 34% 54% 50% 54% -4pp 16pp -4% DD&A -2.84 -5.31 -5.74 -5.86 8% 102% -2% Stock option expenses N.A, N.A, -1.11 N.A, N.A, N.A, N.A, EBIT 1.88 9.81 10.25 13.24 4% 444% -23% Pretax profit 1.23 9.65 9.61 12.63 0% 683% -24% Income tax -0.66 -4.36 -4.58 -5.59 5% 593% -18% Net income 0.57 5.29 5.03 7.04 -5% 788% -29% Net margin 4% 19% 15% 20% -4pp 11pp -5% Adjusted net income N.A, N.A, 6.14 7.04 N.A, N.A, -13% Source: company data, Aton estimates Overall the results were generally in line with our expectations, with the exception of the crude inventory growth and slightly higher than expected paper loss, and show that the company is on track to meet our forecasts. This is also supported by the company's statement that current production exceeds 9mbpd, 18% above the 2Q06 average, with the bulk of the increase in Kazakhstan, which bodes well for production and profitability in the third quarter. Arawak Energy remains our top peak in the Caspian region, with a target price of $4.54 implying 80% upside form the current level. We reiterate our Buy recommendation. novicedave - 25 Aug'06 - 17:16 - 2254 of 2301 Chip's method is more accurate, but for predicting future earnings, and so for any NAV calculations: For each year you need the following variables: P- Processing Rate (tpa) Zg- Average Zinc grade of ore (g/t) Gg- Average Gold grade of ore (g/t) Zp- Zinc price ($/t) Sp- Silver price ($/oz) Gp- Gold price ($/oz) C- Costs per tonne of ore processed (likely to be more accurate in the face of a variable zinc grade than cost per tonne of zinc produced). To calculate income for a year you then perform the following equation: 0.66 * P * Zg * (Zp + Sp * 5.95) + Gg * P * (Gp / 31.1) Costs are then obviously C * P So you have profits for each year from now on (income costs), although from halfway through 2008 you have to allow for the 60:40 JV split and from 2009 you have to allow for taxes (which are 10% for 2009-11, 16.5% to 2016, 18% thereafter). So from then on its a standard NAV model: i.e '06 earnings + 0.9 * E'07 + 0.9*0.9*E'08 + 0.9*0.9*0.9E'09 and so on (assuming a 10% discount rate) Sorry this post is so short and condensed, bit short of time. If you have any queries one of me or chip will try to answer them later on i'm sure. ND Ps: costs in 2005 were $35 per tonne of ore processed. The currently defined mining resource (although not the area currently being mined, which is lower grade) is "Probable 2.57 million tonnes of ore at 12.59% zinc (7% cut off), 0.42 g/t gold and 445.63 g/t silver." pps: both grades need to allow for recovery losses (for zinc this is around 8-10%, for gold we dont know yet) and you need to allow for the fact that the new plan is to recover gold in concentrate, which will probably lead to say a 30-40% discount to the spot price. TheManWithNoName - 25 Aug'06 - 17:24 - 2255 of 2301 Dave , I think I will stick with proved and tested PE extrapolation . JV consequences in 2008 .I willl worry about then .But could be offest by possibly $150m in the bank depending on timing of JV , smeltering plant addition ,gold production , silver production , possible acquistions in China , resource finds ,40% increase in zinc prices etc , tax consequences are pretty low . Far to many variables to predict more than one year .Which means PE is more suitable basis . £2 two year target . Thanks .Alot easier . Hectorp - 25 Aug'06 - 18:59 - 2256 of 2301 I have to say both chip and dave provided the most erudite and logical posts on Griffin's material dynamics I've seen and in two adjacent posts! Apply them to any oil or mineral company . No wonder this is such a significant and important thread on ADVFN. I must add I could not have done what either of you have, not to the degree you did. NO reply neccessary to this one. PS been buying the minnow THOR worth a look based on the excellent ss smythe's involvement and my interest in the peripheral metals. |
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