Synnovia Dividends - SYN

Synnovia Dividends - SYN

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Stock Name Stock Symbol Market Stock Type
Synnovia Plc SYN London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 130.00 01:00:00
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Synnovia SYN Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

Top Dividend Posts

charo: With poor cash flow how will it repay current due loans of £9million and has insufficient reserves to pay dividend. The chairman is being disingenuous in his statement re dividends.
chrissey: It is at least informative to understand that despite the fact that we are also shareholders, it is a 'done deal' as far as Syn & HP are concerned and no doubt linked to what the Syn. mgmt terms under the deal are! For this reason alone I would love to see a bigger counterbid and believe that this is possible given the value to other Co's. Of course the institutions will relish the gain at £1, effectively the value that the Co may or may not have 1-2 years hence but certainly not short term. It isn't a buying opportunity but it is certainly one to hold and also the reason why no price movement despite large selling, I assume, but would happily bow to those who probaly know a lot more than I.
maut too: Synstar rockets after cash bid Mon 09 Aug 2004 SYN - Synstar Latest Prices Name Price % Synstar 99.50p +27.16% FTSE All-Share 2,138 -0.71% FTSE Fledgling 2,741 0.00% FTSE Small Cap 2,438 -0.38% techMARK 978 -0.88% techMARK 100 993 -1.13% Software & Computer Services 366 -1.00% LONDON (SHARECAST) - Computer giant Hewlett-Packard has snapped up IT services provider Synstar with a recommended cash offer of £163m for the Bracknell-based group. The offer, which is being made by Hewlett-Packard's HP BV unit, will give Synstar's long-suffering shareholders 100p cash for each share, a premium of 28% to Friday's closing price and a level not seen since the first half of 2000. Synstar's chief executive Steve Vaughan said, "The board is pleased to recommend this offer because it recognises a premium to the value in our strategy." HP said it believed the acquisition of Synstar would give it additional expertise and capabilities within the HP Services Division in the UK and Synstar's European markets. Analysts agreed that the deal represented good value for both sides.
timtom2: They wouldn't have changed broker if the last lot were doing the business and getting the Syn story out to clients - would they? Probable Syn management were disappointed with stock price performance given the turn around they have achieved. This recent rally may not be temporary but the start of the recovery.
timtom2: Nice one isn't it ! But when will the market wake-up to the potential or a buyer appear. Can't waitto see Syn prove the strategy with results and the stock price move accordingly. Don't sell too soon !
timtom2: Virtually impossible to predict Syn price performance but, to be proven wrong, I would suggest >£1 within 18 months based on a # of factors for the future........ 1) New contrcats to kick-in, would expect further buying by institutions as it looks like increased revenue will kick-in. Why would they buy yet even given the good news when the good news will make little real difference for a couple more qtrs or more ? Why shold they risk it ? 2) Kiling of the lower marging business 3) Market waking-up to disaster recovery - predicted to grow faster than IT services in general 4) Market will wake-up to Syn's situation - read FT yesterday (European version as was over that way) and good article on IBM "buying seats" in Europe for recovery centres 5) Bidder will be sniffing around Forget Robbie Burns - following others might lead to gains but to make real money over the long term you have to do your own leg-work and have your own methods - you are responsible for your own money.
intco: maut too. Thanks. img have more shares than syn, turnover is about one tenth as much, no dividend, about a quarter of the cash that syn is holding, showing a loss on their interims, shareprice currently showing at 122p on the bid...???? It was a toss-up as to which one I bought, when they were both in the 60p/70p range. : ((
maut too: AFX-Focus) 2003-12-02 08:47 GMT: Synstar initiates divs with FY; selling French ops; plans 5 mln stg spend LONDON (AFX) - Synstar PLC initiated dividend payments today with a 0.5 pence payout declared alongside results for the year to Sept 30 2003. Chairman John Leighfield said: "This has been another good year of progress for the business with our existing business excluding France performing well in terms of gross margins, operating profits and cash generation." The company announced today that it is in advanced negotiations for the sale of its French operations to management. If completed successfully, this action will improve the operating profitability of the group, Leighfield said. Leighfield said there has been a recent acceleration of the pressure on margins in the group's traditional maintenance business but the strategy of offering integrated Managed Services to large companies is producing significant contracts with long-term revenue streams at good margins. "The progress made this year and the next phases of our strategy that we are planning will position Synstar well for the future and hence the board's decision to begin paying dividends to shareholders," he said. The group's next phase of its strategy includes a 5 mln stg investment in people and skills in the UK and Europe, which will be taken as an exceptional charge. Turning to the figures for the year under review, the group said total operating profit was up 6 pct to 8.5 mln stg from 8.0 mln and pretax profit rose to 8.7 mln stg from 6.5 mln. Net cash inflow before financing was up 17 pct to 9.8 mln stg from 8.4 mln. It said the mixed performance in Continental Europe was counterbalanced by the strong performance in the core UK business where operating profits were up 44 pct to 13.7 mln stg from 9.5 mln.
abdab: Synstar PLC 29 September 2003 29 September 2003 Synstar Plc £200m seven-year contract with Fujitsu Services signed & Year-end trading update Synstar plc, ('Synstar' or 'the Company') the pan-European IT services provider, today announces the signing of a £200 million contract with Fujitsu Services and provides an update on trading for the year ended 30 September 2003. Trading update for the year ending 30 September 2003 The second half of the financial year has been characterised by good profit growth in the company's core UK operations. The majority of Synstar's European businesses have performed in line with our expectations, with the exception of France. Our operations in Holland have been performing well and our Spanish operation has made significant progress in terms of contract wins on which we expect to build next year. Our businesses in Belgium and Germany have performed in line with our expectations Our operations in France - where, as highlighted in our interim results, our business is under performing - are the subject of a further operational review and Synstar will report on the outcome of this review at the time of its preliminary results in early December 2003. Cash generation for the year is expected to be strong, adding to the £19.2 million in net cash reported as at 31 March 2003. Synstar expects to be able to report a small year-on-year increase in both full-year operating profit and earnings. However, the preliminary results for the year ended 30 September 2003 are expected to be around the low end of market expectations. Steve Vaughan, CEO of Synstar said today: 'Our European operations are beginning to respond well to the roll out of the Group's strategy to sell multiple services to larger clients. In combination with solid profit growth in our core UK business, this has underpinned a solid performance for the financial year that is expected to show like-for-like profit growth. Cash generation remains a strong feature of the Group and the signing of this very significant, pan-European contract with Fujitsu Services validates the company's strategy and is expected to be margin enhancing as these revenues come on stream. Clearly more robust action is required within our French operations and we will report on the scope and progress of this in the announcement of our preliminary results in December.' £200 million Fujitsu Services contract signed On 17 June 2003, Synstar announced that it was in advanced negotiations with Fujitsu Services concerning a material contract. This contract has now been signed and will be worth approximately £200 million over the course of seven years. Synstar will be providing Fujitsu Services with a logistics service to support the maintenance contracts of Fujitsu's operations in the UK and mainland Europe. The arrangement encompasses the delivery of computer parts, and the associated capital purchases, strategic planning, bid support, warehousing and distribution. Synstar currently provides logistics services to its own network of UK and European operations and both companies have established that there are clear benefits in combining the investment and sharing economies of scale involved in this activity. The agreement will see Fujitsu Services enhancing its logistics capability significantly. The contract will run in two phases. The first 'interim' phase is expected to run from now until April 2005, which is the conclusion of the contract with the incumbent supplier. Revenues to Synstar during this phase are not expected to have any material financial impact on projections for the financial years ended September 2003 and 2004. The second 'active' phase of the contract is due to commence in April 2005, and is initially expected to be worth approximately £30 million to £40 million per annum. Synstar expects the contract to be margin enhancing. The business was won in a competitive tender with 12 other firms. Synstar CEO, Steve Vaughan, said: 'This is our first logistics deal and the largest contract Synstar has ever won. It clearly demonstrates again the success in winning larger contracts, one of the corner stones of our business' strategy. This deal will provide significant cost savings for Fujitsu Services and provides Synstar with the foundation to build one of the most significant IT services-based logistics operations in Europe. In addition, this contract will produce a significant improvement in our long term growth and profitability. We very much hope that in time, we will be able to develop other opportunities that arise from this increase in our logistics footprint and capability.' Fujitsu Services Group Commercial Director, Andy MacNaughton said: 'We have been piloting Synstar's service since January and have been impressed by the dynamic and flexible service delivery that we have received. This, coupled with the innovative nature of the commercial deal, made the Synstar offer compelling.' Ends For more information, please contact: Steve Vaughan / Stephen Gleadle / Christine Jones Tel: 01344 662744 Synstar Plc Ed Bridges / James Melville-Ross / Juliet Clarke Tel: 020 7831 3113 Financial Dynamics About Synstar: Synstar International is a pan-European, independent provider of Business Availability services. Business Availability is a full range of integrated services and solutions in five principal areas: business continuity, data management, networking, lifecycle management and computer services. Synstar has customers in the defence, telecommunications, utilities, banking, retail, aerospace, public sector, and automotive industries. Synstar has over 3000 employees with operations across Western Europe and is quoted on the London Stock Exchange (Symbol: SYN). About Fujitsu Services: Fujitsu Services is one of the leading IT services companies in Europe, Middle East and Africa. It has an annual turnover of £1.86 billion (?2.8 billion), employs 13,100 people and operates in over 20 countries. It designs, builds and operates IT systems and services for customers in the financial services, telecom, retail, utilities and government markets. Its core strength is the delivery of IT infrastructure management and outsourcing across desktop, networking and data centre environments, together with a full range of related services, from infrastructure consulting through integrated and deployment. Headquartered in London, Fujitsu Services is the European-centred IT services arm of the Fujitsu Group. The Fujitsu Group is US$38 billion (?35 billion) leader in customer-focused IT systems and services for the global marketplace. Fujitsu Services website: This information is provided by RNS The company news service from the London Stock Exchange
ainsoph: 09:28, Thur 7 March 2002 Company Focus: Synstar could shine (Citywire research report) Synstar is to drop its long-running dispute with ICL and work with the company instead; Joanne Wallen believes this typifies the chief's determination to push the group forward. Synstar, which provides computer maintenance, support and business continuity, this week announced a five-year deal with UK computer firm ICL under which Synstar will provide selective sub-contract services to ICL's UK customers. The deal is a 'framework' deal with no exact value attached. Suffice it to say chief executive Steve Vaughan thinks ICL will become one of Synstar's top ten customers within a year, and to qualify for that customers have to be spending between £3 million and £4 million a year with the company. Not only is this an important deal for Synstar, but it also marks the end of a costly court case the company has been bringing against ICL since 1997, regarding some alleged restrictive practices over maintenance of ICL mainframe computers. Vaughan inherited the court case when he joined Synstar last January from US IT services giant EDS. He told Citywire: 'No one particularly cares about maintaining ICL mainframes any more, and the company was losing out on a potentially huge customer.' This is not the first thing Vaughan has 'fixed' since joining Synstar. He offloaded its loss-making Italian operation last year, and last week completed the sale of the Swiss business, which was 'bad and getting worse'. The company's French division had been losing £1 million a year, but is now recovering fast after Vaughan vowed to sort out its sales team and strategy. Yesterday the company announced new deals in France worth a combined £2 million a year, including a £900,000 hardware maintenance contract with NCR and a network contract with Sony. Germany and Belgium have been very successful, Vaughan said. The company also operates in the UK, Holland, Spain and Ireland, all of which have been trading satisfactorily Vaughan also restructured the company last year, cutting costs and chopping 125 jobs, in readiness for a tough period of trading. Vaughan's mission is to exploit Synstar's blue chip customer base more fully. Instead of selling one service to one company in one location, Synstar is now selling services to customers across geographies. For example Fortis bank, which was a customer in Belgium, is now doing business with Synstar in France and Ireland. has also sold more than one service into a customer. BMW, for instance, now takes maintenance services in addition to Synstar's storage systems. Hardware maintenance still represents 40% of Synstar's business, but Vaughan said it provides an excellent door-opener into a company, allowing Synstar to get in and sell other services. Growth areas for the group include business continuity, networking services and managed services. Outsourcing contract values in Synstar's pipeline are 'considerably higher than a year ago'. House broker Old Mutual's forecasts for this year are for £230 million turnover and pre-tax profits of £8.5 million or 3.3p per share. Next year's estimates rise to £240 million and £10.1 million or 3.9p per share. The shares (SYN) are currently unchanged at 64p valuing the business at £104 million, and putting it on a price/earnings ratio for 2003 of a pretty reasonable 18.1. There are several shrewd investors with stakes in Synstar. Aberforth Smaller Companies investment trust (ASL), run by a team led by Richard Newbury, holds 1.73% or 2.8 million shares, and (Aberforth UK Small Companies) unit trust holds a further 0.93%. Giles Hargreave's (Marlborough Special Situations) unit trust holds 400,000 shares. Martin Hudson has recently sold down some of Fleming Mercantile investment trust's (FMN) holding, shedding 125,000 shares since mid-February to leave it with 4.9 million. However, Brian Watson is a recent buyer, adding 325,000 shares to his holding for Framlington Innovative Growth investment trust (FIT) in the last week, taking the holding to 2.8 million shares. Citywire Verdict: Services is not a bad industry to be in right now and if Vaughan can get new business from existing customers, cost of sales should fall considerably and margins strengthen. So far he has delivered very well on his strategy. There is probably more work to do, and the economic climate won't help much at the moment. The difficult work of executing the new strategy has just begun, but Synstar could have a bright future. ©2002
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