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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Psion | PON | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 87.75 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 87.75 |
| Top Posts |
|---|
Posted at 03/9/2012 09:10 by wessie From the August interims:Dividends Under the terms of the current Offer from Motorola Solutions to acquire Psion, the Board of Directors is not proposing an interim dividend in 2012 (2011: 1.3 pence per share). |
Posted at 29/8/2012 16:30 by johnward1234 anyone know what has happened to our interim divi (i did'nt recieve mine ) i suppose motorola solutions will take it and the company on the cheap as well(just great.) |
Posted at 20/6/2012 12:08 by praipus Noticed First Eagle buying a few here with a CFDFor anyone intrerested I'm tracking the rest of their holdings here: |
Posted at 11/8/2011 21:19 by sat69 Oops! You're right Shauney! Having read the rns I believe they are an excellent buy at 65p. The bonus is they're still paying a 1p divi! I haven't held for a long time but may take a dip tomorrow. |
Posted at 06/8/2010 02:03 by trendfloor Tech stock Psion PON technically looks like it could be on for a rally.Could have got my double bottom a little more accurate on the chart. First share price target 95p resistance. |
Posted at 12/5/2010 22:55 by diku Broker recommendation from last week..07-May-10 Psion PON Seymour Pierce Buy 80.00p 116.00p - Reiteration 07-May-10 Psion PON FinnCap Buy 80.00p - - Reiteration |
Posted at 07/5/2010 21:15 by topvest I've bought some this week. PON look a good niche player and are very attractively valued. |
Posted at 28/4/2010 22:54 by diku Well there you have it...now anybody for PON?...Hewlett-Packard to Acquire Palm for About $1.2 Billion |
Posted at 16/4/2010 17:02 by cockneyrebel Believe what you like She-ra. I just happened to look in here seeing PON had come off. If you really think I run two handles you can get ADVFN to check.Fortunately I'm not as paranoid of you as you are of me :-) And I'm not Simon Gordon - he chats on my thread - sorry but I have enough trouble talking to all those that post there let alone talk to myself. CR |
Posted at 08/4/2010 13:02 by johnroger Buy Psion at 81pA tip from SmallCapShares.co.uk THE BUSINESS The economic crisis dealt a double blow to trading at mobile computing specialist Psion. Discounting activity and weak demand triggered a downward trend in gross margins while a high proportion of fixed costs meant it was difficult for the firm to scale back operating expenses. In order to return to profitability, the company launched a wide-ranging restructuring programme in the 2008 financial year that has massively reduced its cost base. New management have realigned the business's operations and while the firm remains loss-making, new product launches, its strong balance sheet and an incipient recovery in its markets make the shares worthy of a closer look. Psion specialises in the production of mobile hardware for businesses with employees who are constantly on the move and require realtime access to data. Besides the production of portable computers (including hand-held devices) the company also designs wireless data collection networks to enable the prompt flow of information between employees. In addition, the firm also provides support and maintenance programs to clients. Psion's products are designed to help improve the productivity of mobile workers and also deliver efficiency gains for the operation as a whole through improved communication and coordination. Products are sold via an array of channels such as a third party network of system integrators, value added resellers, distributors and its own direct sales force. In addition, the company has strategic relationships with technology partners such as Microsoft, Cisco Systems and SAP that help it provide the latest mobile applications to its own clients. CURRENT TRADING The key event of the 2009 financial year was the implementation of the 'Change Programme' which was designed to substantially reduce the firm's cost base in order to improve operating margins. Initiatives implemented under the scheme enabled the organisation to reduced operating expenses by GBP35 million and cost of sales by GBP11 million. Besides redundancies and a revision to remuneration policies, the company also put in place 70 supply chain improvement projects to reduce inventory levels, speed up product development and improve its sales strategy. These cost measures outweighed the 14.7% fall in revenues to GBP170 million and helped reduce pre-tax losses by 61% to GBP3 million. However, a deferred tax charge of GBP4.8 million coupled with a substantial noncash GBP20 million goodwill write-down on the value of its foreign offices (caused by the significant weakening of sterling against its trading currencies) meant losses per share declined by 25% to 5.52p. Despite the trading losses the firm declared a second interim dividend of 2.6p taking the full-year payout 2.7% higher to 3.8p. During the year the company generated GBP18.3 million in cash from operating activities compared with an outflow of GBP3.8 million in the previous year. This came as a result of a GBP16.7 million reduction in inventories in light of the overhaul of manufacturing processes. Thus despite paying GBP5.2 million in dividends and investing GBP2.4 million in capital equipment the business finished the year with net cash balances up by 10% to GBP45.3 million. However, a decline in receivables and inventory meant that net current assets stood at GBP59.6 million down from GBP81 million at the 2008 year-end. During the year Psion bagged an agreement with the world's largest technology distributor, Ingram Micro, significantly increasing the reach of its products. This is particularly important as the firm closed down a number of loss-making sales offices during the year. Post period end the business also secured a deal with BT Global Services under which the networking services arm of the telecoms firm will provide Psion's mobile computers to its own clients providing a potential "significant boost to future orders". BT will initially sell the company's devices in the UK, Germany and France but there is potential for the agreement to be extended into other markets. OPPORTUNITIES & RISKS Through its cost cutting programme Psion has created ample room for operational leverage. With trading conditions showing signs of stability and in light of improving operating margins we would expect year-on-year bottom line growth to match, if not outstrip, an improvement in revenues. Encouragingly, technology industry specialists VDC Research Group expect the mobile computing market as a whole to grow at a compounded annual growth rate of 4% to 5% between 2010 and 2013. Bearing in mind the group's diversified geographical operations, new product launches and its recent distribution deals we believe the firm is well-positioned to benefit from this forecast growth. Furthermore, the firm is implementing a new growth strategy known as Open Source Mobility. This system will enable tailored applications to be delivered to clients and for feedback to be more readily incorporated into upgrades. More customised packages remove the need for redundant components thus cutting Psion's design and procurement costs. The company has also launched an online community where its customers, resellers and development partners can discuss product improvements which should ensure customer retention. A "very positive" response has been reported to the offering so far. VALUATION An investment in Psion is essentially a play on two factors: management's ability to boost operating margins, which will accelerate the impact of operational gearing, and the commercial success of its upcoming products. The board has significant experience in turning around businesses and has both the funds and the ambition to drive future growth. For the 2010 financial year broker Charles Stanley forecasts underlying earnings of 7.25p, putting the firm on a current year multiple of 11.2, which falls to 9.4 the following year. Stripping out the net cash of 32p on the balance sheet sees the multiple fall to 6.7 and 5.5 respectively. Healthy income prospects are on offer too as if the 3.7p dividend is maintained the shares yield a healthy 4.6%. As an income and growth play Psion shares are a BUY. Key Data EPIC: PON Market: FULL Spread: 80.25p - 81.75p (1.83%) |
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