Smc Share Discussion Threads

[8trader] 26/3/2008 22:51

cyberbub.

You and others are still refusing to accept that there's some 4 times+
as many shares in issue as the old days.

Even in SMC best times the most they were valued at were around 80 million
when they got close to 200p a share.

Now even a 40p shareprice is 96 million, it's crazy and people have to
stop ramping this with these numbers because of todays figures, this is
a market where well run quality profitable and cash generative business's
are trading on PER's of 5 and under so tell me why a company with a awful
track record should suddenly demand a per of 20+ !

It's not going to happen for a long time.

Auk is the better play.

[cyberbub] 26/3/2008 22:42

I bought on the way down... at 117p... can anyone beat that? ;-)

I did say that SMC would rebound if you check my postings over the last few months. I did think that it would be likely to bounce back, when it reached under 10p but did not go bust. I was even tempted to bung some more cash in at 7p but didn't because I don't have any spare, ah well :-(

SMC is still one of the UK's and Europe's biggest architectural practices, and assuming that the quality of their work remains high and they get the management/morale issues sorted out, then it should be a good long-term recovery stock. I see no reason it shouldn't be back at £1 in 2-3 years' time. I am still holding anyway, and if I get some cash free (come on JRVS!) then I might put some more in.

[njp] 26/3/2008 22:38

indalo

Having brought the company to near ruin, you'd hope that new management have firmly taken on board the lessons of the past. Still hope at this stage, but I think it's highly likely that they have. Would like to see those results - and exceptionals - first, though.

[indalo] 26/3/2008 20:58

What a horribly shoddy bit of business management this has been. I'm not a follower, but having looked through the old RNSs today, I am pretty shocked at the apparently wild "sh*t or bust" acquistion spree. Not at all surprised the open offer was only taken up by @ 8%....and they call that "successful". Great bit of spin.

From today's statement:

"... with stronger management in place, led by new MD Chris Littlemore, in place,
we can now continue...."

Do you think they can get someone else "in place" to write the next one!?

[leon11] 26/3/2008 19:14

I was tipped this recently by an architect mate but only put it on my monitor instead of buying, he reckons they're always busy and loaded up with work but the dodgy accounting in the past worried me. Looks like that may be behind them and they do look cheap.

Might have a dabble tomorrow.

[wtacraig3] 26/3/2008 19:10

50% up on the day, but 96% down on the year. It's all about timing I guess. Even Northern Rock faired better than this (comparing apples with or
oranges I know)

[njp] 26/3/2008 19:04

H1 was full of 'one-off' write downs, so it's the run rate that you should be looking at to tell you what the company's profitability might be, and that is £3.7m ebitda per half - i.e. £7.4m ebitda in a full year.

I'm not surprised by the rise. The trick will be to sustain it and not to drift back. The company's hardly a city darling, but I've always reckoned there's a valid business here provided the debt could be sorted.

I suspect the run-rate annual eps is around 1.8p a share, so I can't see these racing away just yet in the current market.

[theband] 26/3/2008 17:31

+ 50%, but when i just looked at todays rise on the long term chart it made me larf, not as much as phil2003 though.

[kumala] 26/3/2008 17:19

I wrote this one off some time ago, looks like there might still be some life in this old dog still, not happy to reinvest anymore hard earned cash at the moment though, watching and waiting.................
K

[lfdkmp] 26/3/2008 16:49

theband

"Not having studied a company i used to dive in with the momentum, the buying frenzy,"

...bit like joining the crowd on the high street, can't wait to get home to open the supadoopha whizzimagig, you just paid some street peddlar £40 for.

Oh, f..k! :-)

[phil2003] 26/3/2008 16:43

+50%.. I'm rich... rich... RICH as kings I tells yea all...

(checks average... weeps into keyboard)

[8trader] 26/3/2008 16:31

Yeah, just buy a share, post on a bulletin board it's worth at least
4 times as much and then say you are not ramping !

There's a lot of shameless rampers operating on this site !

[theband] 26/3/2008 16:29

lfdkmp, wolterix, thanks for that, much appreciated.
Not having studied a company i used to dive in with the momentum, the buying frenzy, so buy in @ 10p today, realise its going nowhere tomorrow sell @ 7p then watch it creep up over next couple of weeks to 15p and cry myself to restless sleep at night, so just for now i'm on the fence. If it consolidates on the 10p tomorrow i may buy some, especially after reading what jotohaha has to say :o)

[jotoha1] 26/3/2008 16:05

Its not ramping, just my view that this is grossly undervalued at the moment, am sure it will find its correct level in the near future.

[8trader] 26/3/2008 15:58

I just like to know how you can increase a value of a company
by upto 70 million when all it will make is 5 mil ebitda !

It's blatant ramping jotoha1

[jotoha1] 26/3/2008 15:36

£40 million turnover and growing , 40p min I would say, lets give it 3 months and see where it is!

[8trader] 26/3/2008 14:42

Is that why you've decided to add over 60 million to it's market cap
just like that !

lol

[jotoha1] 26/3/2008 14:32

Small tracker funds will be after this one, and to have turned it around so quickly, new CEO has what it takes ...brilliant!!!!!!!!!!!!!!!!!

[8trader] 26/3/2008 14:16

Had to be one !

Yes, lets give Smc a 90 million market cap on EBITDA of 5 mil !

lol

[jotoha1] 26/3/2008 14:09

Fair value at least 40pence with this positive statement!

[wolterix] 26/3/2008 14:00

everyone's been burnt by these bad boys

[8trader] 26/3/2008 12:02

Advfn need to update their small cap market caps a lot faster.

Market cap at 9p will be around 22 million, not such the hot
bargain it first appears and especially with this lot who swing
from great great great to bad bad bad in no time at all, who
knows what will happen next.

I got burnt in these a while back hence my caution/bitterness :-))