Science Share Discussion Threads

[truffle] 19/7/2010 10:56

Hadn't noticed the point re. how quick the results are coming out, extraordinarily quick by any standards. Hopefully good news in this case, if you assume that results that come out on the last day of the requisite period are normally not good news.

[cockneyrebel] 19/7/2010 10:44

I notice this Martyn Radcliffe that put in the bid and is now the new Chairman was formerly Chairman of Microgen and senior vice president of Dell Corp.

No small fish then.

CR

[jonwig] 16/7/2010 10:42

Anyone know another company which gets its H1 results out within 3 weeks and FY in less than that?

[cockneyrebel] 16/7/2010 10:15

Results Weds

CR

[stegrego] 06/7/2010 22:09

Ah ok

At or very near all time AIM high.

;)

[elgordo] 06/7/2010 22:02

Only since they moved down to AIM from the main market. I bought some at 107p in August 2005, for example...

[stegrego] 06/7/2010 21:57

At or very near all time high.

[cockneyrebel] 06/7/2010 21:45

cheers - I see it's made a major breakout today.

CR

[jonwig] 06/7/2010 11:49

CR - the freehold is worth looking at, too.

Valued at £14m and generating rental income of £2.2m - ie. a yield of 15.7%, almost twice the typical rate for such a property. (Modern, state-of-art.)

Whatever they say in Note 13 about the value, it's an anomaly.

Also the recent performance options - a share price of 80p to trigger them.

[cockneyrebel] 06/7/2010 11:24

Looking rather good - joined you this am.

£6m net cash and a market cap of £18m is a bonus too.

These were losing £1.9m in H1 last year to over £900K in H1 this year - strong momentum and a lot of net cash.

CR

[ukinvestor220] 06/7/2010 09:08

Sagentia Group (SAG) shares gained 4.5p to 39.5p after the international technology consultancy said that profits will substantially ahead of market expectations for the half year to 30th June - with profit before tax for the period being ahead of the current market forecast for the year as a whole. This significant turnaround in performance, compared to the loss reported in the first half of 2009, is due to the restructuring undertaken in the second half of the last year and strong trading in the first half of 2010. Consequently, Arbuthnot issued a "STRONG BUY" recommendation based on its 70p target price.

[stegrego] 05/7/2010 19:13

Hoodless B

Sagentia Group (SAG, 35p, £14.60m). A very positive H1 trading update from the outsourced R&D consultancy which anticipates to be 'substantially' ahead of expectations with PBT for the period surpassing the markets FY estimate. The turnaround is due to restructuring undertaken in H2 2009 and strong H1 trading. After the £7.7m placing the company has net cash of £6.6m (Net debt £4.8m). Fidessa cite £0.5m PBT for the year and 2.3p of EPS, if we double this the rating becomes 7.6x 2010 EPS which looks good value. If we were to net out some of the cash the company would looks very reasonable at an EV/EBIT of around 7/8x. We upgrade our PT to 46p only 10x year 1 EPS (crudely assuming this year's earnings double) and upgrade our recommendation to BUY.

[jonwig] 05/7/2010 14:05

edcrane - alas, there's never been much BB interest ... I should know.

[edcrane] 05/7/2010 10:18

Thought there might be more followers here after today's news

[stegrego] 05/7/2010 07:44

Roughly half market cap in cash and then also a nice bit of freehold property.
Difficult to say what eps for year will be, but if they do nothing in second half then it will be around 2.5p, which gives p/e of 14.

Id expect it to be a fair bit more than 2.5p though.

All in all looking very cheap.

[jonwig] 05/7/2010 07:19

Sagentia Group plc is an international technology consulting company providing outsourced R&D consultancy services from market analysis, through product development to transfer-to-manufacturing for the medical, consumer and industrial sectors.

The Group's profit for the period ended 30 June 2010 is anticipated to be substantially ahead of market expectations with PBT for the 6 month period ahead of the current market forecast for the year as a whole*. This significant turnaround in performance, compared to the loss reported in the first half of 2009, is due to the restructuring undertaken in the second half of last year and strong trading in the first half of 2010.

As a result of the successful Placing, raising £7.7 million net of expenses, the first half operating performance and the cash flow seasonality, cash at 30 June 2010 was £12.5 million, with debt of £5.9 million, producing net funds of £6.6 million, compared to net debt at 30 June 2009 of £4.8 million.

The Interim Results for Sagentia Group plc are anticipated to be released in late July.



*That's PBT of £0.5m and eps of 2.3p.

[jonwig] 18/5/2010 07:16

Placing of 20m new shares at 40p (ie. a premium) already fully subscribed.

"To strengthen the balance sheet". Net debt only £2.7m so there must be more to it than that ... "Acquisition opportunities" ... RTO comes to mind?

[jonwig] 27/4/2010 07:51

"Sensohaler":

[jonwig] 16/4/2010 07:56

Offer has lapsed.

The Offeror announces that as at 1pm (London time) today, being the First Closing Date, valid acceptances of the Offer had been received from Sagentia Shareholders in respect of a total of 32,379 Sagentia Shares, ...



Amazing that holders of over 32,000 shares were too thick to sell in the market.

[jonwig] 15/4/2010 19:55

Hi, Stegrego.

I can see where they are coming from! The valuation of the freehold has been remarked upon here, and they seem to agree.

The tax-loss angle is a bit more problematic, as HMRC are pretty tight in their interpretation of how it can be used - you can't just buy a business and transfer the tax-loss any more.

The real problem will be squeezing profit from the consulting side. They employ some pretty bright people who go off and start their own outfits if they don't reap benefits. SAG itself has never really solved that one.

[stegrego] 15/4/2010 19:42

Jonwig,

Im not the origin of the link, i nicked it from elsewhere and cant even remember where now (another thread)

Id imagine its something you have to sub to.

Do you agree with the write up of SAG and can you see much more milage from here for the share price given that its more than doubled recently?

Cheers

[jonwig] 15/4/2010 19:08

Excellent stuff, thanks Stegrego!

By the way, I suppose I can't access these unless I'm registered with them or somehow know the code: "ECnwCKYd", etc?

[I've posted the pdf link on the SFR thread - hope that's OK with you.]

[jonwig] 29/3/2010 11:08

MR and the SAG board appear to be on the best of terms:

[jonwig] 26/3/2010 12:25

Full offer document can be downloaded from: