Sivota Share Discussion Threads

[cockneyrebel] 12/3/2013 14:43

Singer target raised from 129p to 159p.

CR

[tubbenden] 12/3/2013 09:52

Yes, bound to lose money if trust them.

LAD/TW etc prices are higher than their targets but still getting higher. They give FXPO, OPHR etc huge targets but they keeps going down.

Never trust them.

[fargonorthdakota] 12/3/2013 09:36

Which is why you should never trust em! DYOR.....

[sasannach] 12/3/2013 09:27

Not very helpful statement from CSS Investments

"St Ives booked a two-thirds fall in its interim pre-tax profit, although its revenue for the period was broadly flat."

Looks like they are comparing HY2013 to FY2012 !!

[douglasallen] 12/3/2013 09:09

Dont think SIV needs o be regarded as a growth stock, just a company which isnt going to go bust in the next 3 years.

The increase in the divi says it all tbh...thy have gone for divi increase nit a buyback.

Confidence inspiring.

[bookbroker] 12/3/2013 08:59

Thing is the City still does not regard it as a growth stock, but things are changing nonetheless, on the face of it the management are doing a cracking job at re-inventing this co., but are still somewhat reliant on the pulling power of the earnings from publishing irrespective of the fact that they are consistent and fund a generous dividend, which theoretically investors should be jumping through hoops over in this low interest environment, management deserve to be given more credit for their efforts with a far higher rating!

[red army] 12/3/2013 08:53

This company requires a greater audience as I am sure it will get re-rated.

[owenski] 12/3/2013 08:39

LG, SRT needs patience that's for sure, but yes I think it will happen.

[pabster] 12/3/2013 08:25

am sure this should get some positive coverage from the investment press given the impressive turnaround that has been implemented

[cockneyrebel] 12/3/2013 08:14

Slow out of the traps but moving now :-)

CR

[aleman] 12/3/2013 08:01

Dividend up slightly more than forecasted and an acquisition which is expected to be earnings enhancing in the first year should see forecasts tweaked up slightly. The slight improvement to operating cashflows, wih more in prospect, suggests the shares are still not expensive.

[melody9999] 12/3/2013 07:46

interim dividend up 14% says it all really. you don't provide those sort of increases unless you are comfortable and confident about future prospects.

[lord gnome] 12/3/2013 07:32

If my reading of these results is correct, then this business is certainly generating cash. Over £14 millions in the last six months. Profits can be manipulated, but cash can't. I am impressed. Well done the management.


Edit: Owenski - do you think we'll ever live to see the day when SRT delivers a set of results as good as this?

[owenski] 12/3/2013 07:25

Marketing services is the star here, very good growth rates, agreed, SIV looking rather cheap here, would've thought this could stand a 180 - 200 price tag

[cockneyrebel] 12/3/2013 07:21

Thats ahead of Numis growth forecasts in yesterday's note.

Current forecasts for the year ahead from Numis is 18.7p, suspect that could get tweaked up a bit further. Fwd PE 6.9, getting on for a 4.5% yield and moving into the higher growth, higher margin marketing services should mean a re-rating imo as the growth potential picks up.

All in my opinion but these look very cheap on that rating imo.

CR

[bookbroker] 12/3/2013 07:18

Not just solid, very robust, every division performing strongly in what all and sundry call a tentative economic recovery, when momentum picks up, if it ever does, this co. will really start to perform, balance sheet remains strong leaving possibility of more bolt-on acquisitions.

[richtea1701] 12/3/2013 07:05

solid results, solid management, good acquisitions, great medium term hold.

[douglasallen] 11/3/2013 16:05

still yielding 4.40% at current levels. I would expect to see a moderate increase in the div level if all on track at some point this year.

still plenty of value in this from dividend perspective would expect yield to fall to ~3.3% and corresponding share price rise to 175p on current business prospects.

Raise the divi and 200p is the level I would expect SIV to find.

[cockneyrebel] 11/3/2013 15:07

Yep, mm's galloping to keep up imo.

CR

[pabster] 11/3/2013 15:03

Something just scared the MMs - went 139 offered!

[pabster] 11/3/2013 15:01

CJohn - what is the very decent opportunity you refer to? :-)

[cjohn] 11/3/2013 12:49

I've taken profits here.

I've been in SIV twice in the alst three years or so. Buying in the 40s and selling out in the 100's and more recently buying at 70 and selling out at just below 129 earlier today.

The most recent trading statement hinted at further write offs and/or exceptional costs for restructuring. It was "underlying" operating profit that was buoyant.

I hsve the impression they're having to run fast to keep in the same place, and at the current price wiht not much decent asset backing, in case things go awry with an acquisition, I've decided to take profits and move money into a very decent - clearer - opportunity that's come up. I should also explain that I have a huge holding of Trinity Mirror, so I wanted to diversify out of print. Trinity and St IVes share some similar risks.


Best of luck to all holders

[douglasallen] 11/3/2013 11:49

Management have so far done a great job at turning this comoany around.

So easy for printing businesses to fall in pto structural decline, but SIV appear to be doing a great job at refocussing the business towards marketing.

If integration is successful as it appears to be then I see no reason why SIV cannot be rated on similar levels to Creston, ITV and WPP and digital printing businesses such a 4imprint.

200p being my PT here.

[cockneyrebel] 11/3/2013 11:24

From the Numis note:

"We believe the low share price rating afforded to St. Ives (a 2014
EV/EBITA of c.5x and a P/E ratio of 6.4x) is backward looking and reflects
perceptions of a group as both cyclically and structurally challenged. We believe
the Marketing Services division will be responsible for around half of earnings in
two years and as the market appreciates the fundamental changes to the structure
and outlook for the group we see a re-rating in the shares"

[edmundshaw] 11/3/2013 11:00

Cheers for the Numis update. Nice.