Sirvis It Share Discussion Threads

[tp100] 25/1/2006 16:36

thanks tiltonboy, I also get that impression that the shares are oversold.

[tiltonboy] 25/1/2006 15:25

tp100,

Figures due next Wednesday. The company have three days of institutional visits, which could be uncomfortable for our leader. I am tempted to average down, but will wait for the figures first. I'm told the situation is not as bad as the price is suggesting.

tiltonboy

[tp100] 25/1/2006 15:10

I think so ponty and have added again today. The price starting to rise....

[ponty] 12/1/2006 14:21

is this sufficient to stop the share sliding,

[tp100] 11/1/2006 16:42

SiRViS IT plc, which provides a range
of IT services including support,
consultancy and systems installation
across the UK, announces that further
to the RNS release of Dec. 7, 2005, the
Group has now completed a full review
of its cost base in response to the
slower than expected trading conditions
experienced in late 2005.
The review has led to a reduction in
headcount which will result in
significant cost savings.
This restructuring includes a
reduction in the size of the Group
board and the elimination of the
positions of Operations Director and
Service Director.
These roles will however be maintained
at the operating level. Consequently
the employment and directorships of
Colin Sales and Hugh Pollock have been
terminated with immediate effect.
Overall the Group has reduced its
headcount by five although staffing
levels remain sufficient to maintain
current and anticipated service levels.
The annualised cost savings
anticipated from this review are to be
in excess of #300,000 p.a.

ICV Edited News from Dow Jones
1353 GMT Jan 11 2006

[tp100] 10/1/2006 15:30

somebody picked up 250k today at 3p...come on SRV!

[tp100] 09/1/2006 13:29

added again at 2.9p......

[tp100] 05/1/2006 12:23

Added again at the mid price of 3p.

[tp100] 07/12/2005 15:33

Not great news today but the bad news now looks to be in the share price. We will have a better idea in February.

SiRViS IT PLC
07 December 2005
SiRViS IT plc

Trading Update
Date: 7 December 2005


SiRViS IT plc, which provides a range of IT services including support,
consultancy and systems installation across the UK, announces that whilst sales
are slightly ahead of the corresponding period last year, trading during the
first five months of the financial year has been slower than anticipated and
gross margins continue to be under pressure.


Overheads are under review and measures have been put in place to improve
margins: however, it is unlikely that the improvement will be sufficient to meet
the current market expectations for the full year.


The Company's Interim Results for the six months ended 30 November 2005 will be
announced in February 2006 and will give a more detailed analysis of this half's
trading conditions.

[ponty] 01/11/2005 11:05

thats looking better

[red ninja] 01/11/2005 10:04

Is this buying ?

SiRViS IT PLC
01 November 2005


SiRViS IT plc (the 'Company')

Holding in Company


Dated: 1 November 2005


The Company received notification on 31 October 2005 that Barnard Nominees
Limited currently holds 10,417,488 Ordinary Shares of 1p each in the capital of
the Company, representing 9.13% of the issued share capital of the Company.

[ponty] 26/10/2005 14:15

a tick up at last

[ponty] 25/10/2005 15:05

tp100 glad to see not only one left , figures looking good

[tp100] 25/10/2005 14:52

I like them, happily picking them up at this level. I suspect this is just being ignored due its small cap.

[ponty] 11/10/2005 16:30

have averaged down twice,still holding at over 12p 56%loss and this is a good company so they say .

[tp100] 11/10/2005 10:27

The low volume selling is creating an opportunity.

[mjcrockett] 16/8/2005 18:27

ponty, probably mostly sells. However, the offer price went back up to 7p just before the close, so there must be some buying interest.

mj

[ponty] 16/8/2005 16:48

? were they all sells to day

[affc21] 10/8/2005 21:53

SiRViS finals cheer
Wed 10 Aug 2005

LONDON (SHARECAST) - IT support services outfit SiRViS shrugged off a full year loss as turnover soared, while trading since the year end is in line with management's expectations, it said.

Operating profit before goodwill amortisation leapt to £1.3m during the 12 months to 31 May against £463,000 in 2004 on turnover up 150% to more than £8m.

The disposal of the education software business SIR Learning Systems to management in May resulted in a profit before goodwill of £177,000.

Following the sale of the educational software business and as a result of Financial Reporting Standard No. 10, the company is required to take goodwill originally written off to reserves in the balance sheet in the period to 31 May 1997 to the current profit and loss account.

The net loss before taxation for the year, as a result of the FRS10 requirement, was £2.4m against a £463,000 profit last year.

"The group has made further significant progress during the year," said non-executive chairman Peter Addison.

"Whilst we operate in a competitive market, trading since the year end is in line with management's expectations and demand for the group's IT support services remains positive with a good level of contracted revenues," he added.

SiRViS said it expects to grow its contracted revenues and develop its business organically, while actively seeking earnings enhancing acquisitions, although there are currently none in the pipeline.

[tp100] 10/8/2005 13:10

I have been buying more today. I like the results and the revenues were £500k more than Edison's BUY note targeted. I great little company to tuck away.

[muntle] 10/8/2005 11:15

OK, got it. I hadn't seen the P&O write-off under discontinued activities. Thanks mj

[ponty] 10/8/2005 11:01

looks like a good day at last. long time holder

[sandbank] 10/8/2005 10:28

Well done MJCROCKETT for untangling this announcement. All in all it's the best news out of this company since it changed its name. What was encouraging for me is that they are retaining - indeed expanding - their customer base and increasing turnover and profit.

[mjcrockett] 10/8/2005 10:06

muntle, The following para explains this all most clearly(?):-

'Following the sale of the educational software business and as a result of Financial Reporting standard No. 10, the Company is required to take goodwill originally written off to reserves in the balance sheet in the period ending 31 May 1997 to the current profit and loss account. The net loss before taxation for the year, as a result of the FRS10 requirement was #2,432,000 (2004: #463,000 profit).'

£300k was what the business was sold for and it was originally on as intangible assets of over £3m, but the write down had not gone through the profit and loss account - I think!!

mj

[muntle] 10/8/2005 09:25

Whats the £3.4m goodwill "realised" on disposal? I can only see one disposal grossing £300k. Have there been others?