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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Trafficmaster | TFC | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 46.75 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 46.75 | 46.75 |
| Top Posts |
|---|
Posted at 27/7/2010 12:34 by restassured This is the last day of trading before TFC delists. |
Posted at 26/7/2010 12:10 by restassured Well that was that.It is over.Just damn pleased I don't have to worry about Google giving all the technology away for free. Good luck and good riddance to the TFC management. More than a decade has passed since the shares traded over £11 and they sold it for 47p. |
Posted at 21/6/2010 12:13 by orange1 Another big punter in TFC shares shows its hand:Centaurus Capital has disclosed today that last Friday it increased its long position in TFC and now has a 1.55% holding. Centaurus Capital states that as part of its event driven approach, it makes investments in equity and credit securities of companies that are undergoing significant corporate events or are experiencing other major changes, as well as "deep value investments" in securities that we believe are undervalued relative to their fundamental or intrinsic value, or which they expect to appreciate, should a particular event take place. |
Posted at 17/6/2010 10:42 by gerdmuller restassured, good article. Amazing how little private investors are told. Wonder how they decided who won the auction. Was it the one that gave the best deal for shareholders or the one that gave the best deal for management?If competitors have let this go to Vector then they might be in for a shock. With capital at their disposal then this won't be the same old sleepy TFC as in the past but a new very aggressive animal. Not sure what guarantees management have but if they don't deliver rapido then then will soon be sidelined and disposed of within months. Competitors will then have the option to compete or buy this one at a hugely inflated price in 3 or 4 years. Competing with TFC management is one thing but competing with a highly motivated and aggressive PE firm changes everything. |
Posted at 16/6/2010 16:02 by gerdmuller Does anyone have any idea why a secretive New York hedge fund should be interested in TFC.Who are they acting for? Vector or someone else? I just think it has gone very quiet and TFC shareholders are about to be stitched up by institutions after a quick buck. I have seen no negative institutional comment on this so that worries me. |
Posted at 06/6/2010 09:16 by tom306 Surely that is the case in all businesses? TFC's business sector has continued to grow both sides of the Atlantic despite the recession. Many independent studies show that fleet managers, with effective scheduling, can increase the number of deliveries per day and also save cost. Fleet management systems are now generally accepted to do that. Why should fleet managers not continue to pay if they save more money by doing so? The systems are not expensive per unit somewhere around $50 per month. On the mileages they travel, repaying that is almost a no-brainer.As a long term investor in TFC, you will have shared in the frustrations of up and down profits, missed market forecasts and the like. TFC has been much more stable in the last few years and profit growth has been steady but sure. That is why I think 47p is too low, it reflects past attitudes not current realities. |
Posted at 06/6/2010 08:44 by ls lowry I bought in years ago when I thought sat navs would be in every vehicle but Tom Toms cheap for sale put paid to TFCs rental model. At the time I thought the business model was flawed and at TFC then the founder dumped his shares.I appreciate what you say on the other side of the business but its questionable how long customers want to pay for the other side the business. Thats why I say its risky. |
Posted at 21/5/2010 12:19 by restassured TFC paid two times turnover for FMS.Last years turnover for TFC was £57 million.On the basis of 150 million shares in issue,it would be hard for them to justify anything less than 76p a share. I reckoned that if the deal was off,TFC would have announced that alongside the trading statement.Bearing in mind they have been in possible takeover talks for a month. So I think it is on and they are trying to agree a price. TFC have assets of £32 million and very attractive carried forward tax losses of almost £25 million,which any acquirer could use against the costs of a takeover. |
Posted at 26/2/2010 14:55 by tom306 The only thing MPS has is problems. It has been losing market share for years and has not been able to reverse it. It is claimed widely that the quality of the system is poor so I doubt TFC would want to take that on with all the risks entailed. The due diligence would be horrendous!MPS had a hard sell/poor service reputation and went through a disasterous expansion phase particularly in the States and Spain and have never recovered. Of course, TFC has been there also but were savvy enough to cut it all loose before it brought them to their knees also - although there was a huge hit a few years ago. TFC's recent international expansion through Eurowatch and Fleet Management Solutions are low risk because the two acquisitions have built up a low cost global network through local partners rather than building up their own organisations abroad. Most analysts in the sector believe vehicle tracking, particularly fleets, will show rapid growth once economic confidence and activity returns. At that time, I believe the value of that network will grow. That is why I don't believe the TFC board will want to sell under present conditions. But make up your own mind! |
Posted at 27/1/2010 14:41 by tom306 The other positive is that TFC recently changed their revenue recognition policy to reduce the amount of profit taken at the start of a contract smoothing it a little more over its life. By increasing the amount of profit taken in year 2 of the contract and beyond, it increases the cumulative effect of new subscriber acquisition giving it more of a subscription dynamic. Whilst I am positive about their future earnings, I am less convinced that they are likely to be taken out anytime soon. TFC have been undervalued against fundamentals for years (having also been substantially overvalued during the late 90s and early 00s!) and are still independent. I think the share price is still more dependent in the foreseeable future on (1) net debt falling. ISR forecasts net debt of £9.1m at 12/09 and £4.8m at 12/10 before going into funds of £4.4m at 12/11. (2) the directors raising their extremely small holdings in the company. (3) them starting to pay a dividend. TFC has been profitable in each of the last 6 years and restructured its balance sheet in 2005 to enable it to pay a dividend when the directors saw fit. No dividend has been paid yet because of the level of net debt. |
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