Stanley Gibbons Share Discussion Threads

[shanklin] 05/5/2004 07:01

The link below is worth a look...



...PRVD was down 3.59% during the day, but up 8.05% in the after hours market once the results were announced. A link to the post results conference call is also provided.

Cheers, Martin

[barnetpeter] 04/5/2004 21:39

All you need to know about PRVD results!

Outlook

The Company announced that it is raising its guidance for the fiscal year ending June 30, 2004. Based on the current outlook, revenue is expected to be between $119 and $123 million, with a corresponding diluted earnings per share range attributable to common shareholders of $1.53 to $1.55. On a pro forma basis, per share diluted income before taxes is expected to be $0.77 to $0.79.

[kael] 04/5/2004 18:32

Yes Gengulphus, the price usually does drop when a relatively big seller is known about, lets hope PRVD's results can give it's shareprice some buoyancy

[gengulphus] 04/5/2004 18:01

"Not sure there's any SGI overhang yet - they can't start selling till June can they?"

However, the market is likely to anticipate it - the company has made its intentions plain enough...

Gengulphus

[nurdin] 04/5/2004 16:09

A useful addition to the Board specially as the Royal Mail are planning to float soon and probably will want to divest non-core activities....watch this space I say

[kael] 04/5/2004 16:01

Moving foward...


The Stanley Gibbons Group Limited

('Stanley Gibbons' or 'the Company')

Appointment of Non-Executive Director


Stanley Gibbons, the stamp dealers and publishers, is pleased to announce that
Peter John Wright, 60, has been appointed to the Board of the Company today as a
Non-Executive Director.

John recently retired as director of Royal Mail Stamps & Collectibles, which saw
a significant increase in both turnover and profitability during his time there.
Prior to that, he held a variety of roles within Royal Mail including
responsibility for systems, marketing, fulfilment and customer management at the
British Philatelic Bureau. During his 23 years in the stamp industry John has
built up a considerable network of contacts, including the major postal
administrations around the world.

Paul Fraser, Chairman of Stanley Gibbons, said,

'We are delighted that John has joined Stanley Gibbons. We believe that his
wealth of experience, skills and successful track record will assist the Company
in developing the business to achieve new levels of profitability. This makes
him an ideal addition to our Board.'

There are no further details to be disclosed under Schedule 2(f) of the AIM
Rules. John Wright does not hold any beneficial or non-beneficial interest in
the Ordinary shares of the Company.

[kael] 03/5/2004 22:33

mmm PRVD results out soon. 4th may methinks. Nope cant start selling yet.

[cockneyrebel] 03/5/2004 21:14

Not sure there's any SGI overhang yet - they can't start selling till June can they?

CR

[barnetpeter] 03/5/2004 21:13

Prvd is now below $20, perhaps because of the sgi overhang?

[kael] 03/5/2004 21:11

I would expect forecasts to remain the same, but will be beaten imo.

[rivaldo] 03/5/2004 12:32

Agreed, looks like the Morgan Stanley movement was a quick in and out, though for what reason I don't know.

In case anyone was unaware, the SGI Buy note from Seymour Pierce dated 16th March is on the SGI web site:



This shows EPS of 5.2p EPS this year and 7.2p EPS next year, with an upgrade from Buy on Weakness to Buy at a price of 83p (almost 10% above the current price!).

The EPS forecasts are slightly different on the Barclays web site, but in the same ballpark. Does anyone know if the forecasts have been changed/increased following the 15th April AGM?

[kael] 29/4/2004 16:59

no xdavid, that 200k went through a while ago - I did suspect that there was an instituitional sale - see previous post.

I imagine that they will keep the original 780K they purchased. the 200K I believe was purchased at the very lows we have seen. With regards to options periods, I believe if there was one at all (which I doubt), it would extend to buisness working days .

IMO the books have been pretty much even stevens

And as another addition to this post - there are only 2 mm's on this stock now. It appears scap has left too (including CS). now we only have wins and KBC.

edit nope Scap are back on today :) looks like yesterday was a day off!

[clocktower] 29/4/2004 16:52

Maybe they just had a client !

[xdavid] 29/4/2004 16:26

Strange RNS regarding Morgan Stanley "disposing of an interest" in 200,000 shares on 8th April after "acquiring" them on 7th April...?


and the previous one where they acquired them...


If it was for a quick buck I think they would have notified before now, 21 days after the original acquisition.

Could they have had a 21 day option period and decided not to take it up? Does that now mean that there is a 200,000 share overhang? Might explain the sluggish movement on quite good volumes...

[xdavid] 28/4/2004 02:54

Mmmm... Heap biggum smoke signals...
Inverse head & shoulders pattern in formation...
Confirmation at 77p, with objective 87p...

Personally, I think it's all burning blankets and a case of self fullfilling prophecy, cause with a 50% earnings growth and a peg of 0.3, every month that goes by the price needs to add 5% just to maintain a 14 PE !

[rivaldo] 27/4/2004 12:37

Well put Shanklin - limited downside now and substantial upside. Just waiting for the first buybacks, as that news should give the price a bit of a start on the road back to 90p and beyond.

A 20,000 buy at the ask of 77p has just gone through, so peeps are now having to pay full price.

[shanklin] 27/4/2004 07:06

To me, the benefits of the overall tangible value eing close to the current share price, even if its not currently reflected in the balance sheet, is that it provides downside protection if the business goes t?ts in other respects. With current management I don't see this happening, but to get a decent portfolio return overall, I feels its essential to minimise the likelihood of the share prices going down significantly. With the reference collection, the trading portfolio and the PRVD holding, I suspects there's at least a TBV/share, after tax, of £0.62, perhaps more.

[dbcnotts] 26/4/2004 22:51

Not sure how significant any revaluation rreally is. If the reference collection has to be maintained intact in order for the business to operate (i.e. different from trading stock)it is a purely paper exercise. Increasing the value of the assets may even have the detrimental effect of reducing Return on Capital Employed.

[daza75] 26/4/2004 19:25

Glad we bounced of the MA, in my eyes this is a bullish sign.

[xdavid] 26/4/2004 17:34

In response to whether the internal revaluation of the reference collection would be reflected in accounts, Mr Purkis has answered...

"In answer to your questions, if the change in value based on our internal
valuation was material, we would reflect this in the accounts. The gain
forms part of STRGL and not part of the operating profit for the year.

The external valuation due in year 5 would also be reflected in the
accounts, if the change was material."

I have no idea what STRGL stands for... But the answer is yes, there would be a benefit shown to the tangible fixed assets if the change (gain) was material.

The reference collection is shown in the Balance Sheet as part of the £1.3M Tangible Assets alongside such items as Freehold Land & Buildings (112K) & Vehicles & plant (331K). Net book value of ref collection at Dec 03 is 479K. Another couple of 100K onto this would prop up the TNAV but remember that the PRVD holding of 223K on balance sheet will be lost to TNAV so it may basically stay the same... I would guess.

[smow1] 26/4/2004 12:51

rivaldo - think your "further to go" comment is a real understatement. We are lower now than after the fantastic results recently. Expect us to push back through the 90p+ region soon and then move upwards, hopefully to around the 120p region. High growth, low P/E, massive profits, huge market to expand into.

[rivaldo] 26/4/2004 12:44

Nice to see another tick up, but still further to go IMO based on fundamentals - and the chart bounce looks promising too. Good posts yesterday by the way - any doubters should have been won over by now. Perhaps continued coverage in this week's share rags if they take turns in coverage...

[kael] 25/4/2004 22:39

They could do a 50% divi 50% buyback, either way they are autorised to cancel 15% of the shares in issue. With the amount of cash SGI is generating I would expect that full amount to be bought back by next years interims