Sivota Share Discussion Threads

[scottishfield] 03/10/2013 09:56

V happy holding both SIV & CMS

[tightfist] 03/10/2013 09:53

Thanks guys. I'll take a look at CMS; "Moats" appeal to me!

Regarding closed Final Salary schemes, I have recently left a multinational that continues to bung vast amounts of cash into an Final Salary scheme that was closed to new members about 19 years ago, but it is still well short of fully-funded..... So I an a very thoughtful investor on such topics! SIV must be doing something else right; I wonder where their pension fund is invested!

[waveneygnome] 02/10/2013 17:37

FYI - the Final Salary Scheme was closed some time ago (? 5 years?) to new members - and a new defined contribution scheme established.

To be very fair to mgt both past & present, they have always tried to bung chunks into the scheme fill the funding gap. This is the first time in ages they have been positive.

[edmundshaw] 02/10/2013 17:32

CMS is the other nice play in this sector imo. Very good credentials, management and some excellent recent long term contracts build in growth there. Also good "moats" with their financial business, due to the vital trust issue.

I hold both.

[tightfist] 02/10/2013 11:27

Yes, I noticed the Pension Fund commentary - (whilst I havn't dug deep)it's impressive that here is a Final Salary scheme that is fully funded at present. I do get the impression that management are very focussed, active, and hands-on at SIV.

What are peer-group companies to take a look at? A PPER of 10 looks a bit measley; do we expect get a forecast uplift after the latest results? The current 3% growth (ShareScope figures) doesn't feel right either.

[mikepompeyfan] 02/10/2013 06:41

Interesting comment about the pension scheme at the bottom. I also like the comment about concentrating on growth rather than restructuring now -

hxxp://www.printweek.com/Companies_and_suppliers/article/1214295/St-Ives-hails-successful-transition/

St Ives hails successful transition
Print profit margins are up at St Ives as the group says it has achieved a "fundamental realignment" of its overall business.

Results for the financial year ending 2 August were again complicated by the charges associated with acquisitions and restructuring at the business.

Underlying pre-tax profits increased by 10.7% to £26.8m, on group turnover down 3.2% to £317m. St Ives said that on a like-for-like basis sales were in line with the previous year.

Restructuring costs rose from £5.9m to £8.7m, including £2.4m related to the closure of the Leeds direct mail site. The group's bottom line profit was £5.6m.

Following a swathe of acquisitions in marketing services, and the sell-off and closure of non-core print operations, chief executive Patrick Martell said the fundamental realignment of the business had been achieved.

"Our transition has been a success," he stated, pointing to a 35% share of annualised profits from its £64m turnover marketing services wing, which was described as being "ahead of our repositioning target".

Marketing services achieved underlying operating margins of 11.8%. Its operating profit of £7.6m was "more than the operating profit of the entire group in 2009", noted St Ives.

However, 2009 was the group's 'annus horribilis' when it posted its first-ever loss.

St Ives' print operations are now focused on books wing Clays, which accounts for 28% of print revenue, point-of-sale specialist share price Group, and exhibitions and events business Service Graphics.

Yesterday St Ives announced the sale of its St Ives Direct business to Cogent B2B, which Martell said completed its exit from "failing" or "commoditised" print markets.

"We now have a strong marketing services business, three strong print business that are market leaders in their fields, and a strong balance sheet. I couldn't be more pleased," Martell said.

"The restructuring of print has now been properly completed and we can focus on growth, not restructuring. We have invested in all our print businesses and have spent about £4m-£5m of new equipment in the new financial year, and we are only a month into it," he added.

Martell said St Ives still had the financial headroom to make major acquisitions if the right opportunity arises.

Significantly, the group's results also show a small surplus in its pension scheme, which last year had a deficit of £20m, and Martell praised the work of finance director Matt Armitage and the fund's trustees in controlling the liability.

A decade ago the deficit in the scheme under FRS17 was almost £62m and St Ives has paid tens of millions into the scheme since to right it.

Armitage said: "We take our pension commitment seriously, unlike lots of businesses."

[hawaly] 01/10/2013 17:05

Thanks for this :)

[sammy_smith] 01/10/2013 16:49

LISTEN: St. Ives (SIV) - Preliminary results for the 53 weeks ended 2 August 2013

Click the link below to listen

[mikepompeyfan] 01/10/2013 13:08

I would expect positive press comment to push this up over the next week barring the USA putting a total kibosh on things ;-)

[petersinthemarket] 01/10/2013 12:11

USA problems expected and counted in. SIV progress expected and counted in.
SIV is resting on bottom support. As long as it doesn't break downwards we have no problems. Patience should pay.

[gswredland] 01/10/2013 08:01

Yes shame results come out today despite the picture looking rosy

[mr_bluesky] 01/10/2013 07:35

Market could well surprise with a rise on SIV today.

Charts are looking bullish for SIV IMO but with the probs in the U.S who knows what the markets will do today.

[lord gnome] 01/10/2013 07:25

Nice set of figures. A welcome increase in the dividend, confident outlook statement, strong balance sheet, cash generative businesses. Historic PE of just 10 gives plenty of room for further advance.
The market will probably drop the share price this morning (usual for most shares on results day). A nice buying opportunity for anyone who wants a few.

[mikepompeyfan] 30/9/2013 08:47

Could be a good deal. Siv have kept ownership of the site which looks to be quite large on google maps ;-)

[waveneygnome] 30/9/2013 07:27

I hope Pat has done his due diligence on the purchaser:

hxxp://www.thetelegraphandargus.co.uk/news/10621855.Worker_stages_rooftop_protest_over_pay_delay_at_Wyke_firm/

Companies house doesn't look pretty for the sole director of Cogent either.

[richtea1701] 25/9/2013 17:21

Looks like next leg up - 185 soon

[mikepompeyfan] 25/9/2013 04:40

hxxp://www.msmconferences.com/event/igi051113/?view=Event+Details

Event date: Tuesday 5th November 2013

Angle, Globo, St Ives and Tracsis

The Innovation & Growth Investor Evening will showcase up to 4 leading innovative and imaginative growth companies bringing them together in one room for one evening only!

Date: Tuesday 5th November 2013

Venue: Novotel Tower Bridge, 10 Pepys Street, London EC3N 2NR

Evening timings:

18:00 - 18:30 Registration and coffee
18:30 - 20:30 Presentations
20:30 - 21:30 Drinks reception and canapés

St Ives is a group of market-leading companies that combines capabilities to deliver the UK's most diverse range of marketing solutions and book publishing services.

Our combination of insight and consultancy services, combined with cross-media execution and printing capabilities, ensure that we deliver high-value solutions for our marketing clients.

By focusing on customer service, and by working together, St Ives Group offers unique marketing solutions and publishing services delivered from a single point of contact.

Speaker TBC

[mikepompeyfan] 23/9/2013 12:44

We need £1.80 or more to form the next step on our staircase chart. Looks like it could be coming soon. ;-)

[lord gnome] 20/9/2013 17:25

You can dream. :-)

[edmundshaw] 20/9/2013 16:34

We'll all be trillionaires then in a decade or two. Good-oh.

[drewz] 20/9/2013 16:08

Yes, I think these small cap stocks will keep going up indefinitely too.

SIV is not alone.

There's absolutely no reason why these small cap companies should not double in value every year when sprinkled with Gidiot Osborne's fairy dust.

[lord gnome] 20/9/2013 07:16

The last 12 months on that chart have turned into a thing of real beauty. A good run-up to results and a positive outlook statement could see us taking a look at £2 before too long. Which would be nice.

[mikepompeyfan] 20/9/2013 06:31

Results 1st Oct, only 10 days away :-)