Vantis Share Discussion Threads

[scumdog] 31/1/2008 21:28

Share placing in the offing?

[egoi] 31/1/2008 14:52

TBF, this is being slaughtered with all financials, exactly as I said might happen.

Almost back to float price from years ago despite profit growth of 100s of %; increased dividends (at this price over 6%) and strong growth.

With top management, proven successful trading track record and good overall financials, it will be in the van when the rebound happens.

[agreeable] 27/1/2008 12:23

Key issue here is still the net debt situation v cash flow generation capability, they have no room to spend and as capitalisation falls banks will become more concerned. Also as earn outs end on previous acquisitions so there will be a tendency for good people to leave where there is less pressure on delivering very short term performance.

[the big fella] 24/1/2008 17:04

EGOI

I don't see anything outstanding here. Yield is under 5% (can get higher elsewhere), growth is OK but nothing outstanding, PE 9? which compared to the wider market is not a steal.
I wouldn't short it , but I wouldn't buy it.

[amd7000] 24/1/2008 16:51

Looks like a shorting posibility, the graph looks pretty dire.

[egoi] 09/1/2008 11:06

Good strong set of results, which no amount of innuendo will discredit this time, exactly as I said they would be, leaving plenty scope for an obviously higher dividend with finals.

Chairman talks of continuing 'solid growth'.Clearly VTS is doing well despite tougher trading conditions, therefore I conclude must be taking business from its peer group.

Small uptick in share price early on, on an otherwise bleak day for market, is no surprise - the market clearly likes the value it sees here, even if the wider market has an influence later. If one was being hypercritical the debt level could be lower but if memory serves it is lower than at Finals, so looks like sound progress there too. Group is clearly self-confident with talk of acquisitions, and it has every right to be, as other less talented rivals suffer and become cheap.

My first target 225p by or soon after finals - as long as there is no market meltdown, which is a possibility, otherwise VTS is a rock solid defensive play, all imho of course.

And when you see 'Great British Institutions' like M+S down 20% on results and banks like Lloyds being trashed by the market, good to see little VTS delivering quality results yet one more time!! -:)

Key points

• Financial information has been prepared in accordance with International
Financial Reporting Standards. The comparative amounts have been restated.
• Turnover on continuing operations increased 11% to £46.9m (2006:
£42.2m);
• Operating Profit from continuing operations increased 10% to £7.7m (2006:
£7.0m);
• Basic earnings per share are 7.52 pence (2006: 8.09p) reflecting the
placing in 2007.
• Proposed interim dividend of 1.5 pence per share (2006: 1.5p);
• Cash inflow from operating activities £2.0m (2006: £1.9m);
• Bank interest cover 4.2 times (2006: 4.9 times);
• Strong organic growth in an increasingly challenging market place.
• Further recruitment of high calibre personnel particularly within Core
Practice and Tax.

Commenting on outlook, Paul Gourmand, Chairman said:

'The group has continued to perform in line with our expectations in the second
half. We remain confident of a successful and progressive outcome to the year.'

[agreeable] 09/1/2008 10:20

so much for egoi 'lower debt and good dividend'. The ship is still creaking,trade and other receivables now stand at nearly 8 months turnover, no company can support this. all the cash raised from placing has been sucked into working capital and net cash generation is enough to amortise debt over 18 years. talk of further acquisitions is fanciful with the shares at this level and debt this high plus further earn out payments due.

[egoi] 08/1/2008 12:33

VTS will reflect on another year of expansion and look forward to a confident future I believe when results are out tomorrow as well as I expect lower debt and a good dividend.

All very rosy imho.

Washbrook, some, imho, smug innuendos (deliberately vague though I think, you'll notice) by one poster about 'suspicious' accounting policies have come to zilch despite years of boring repetition. Some cheapo axe to grind against VTS perhaps?

[agreeable] 07/1/2008 18:11

washbrook
I am not doubting the past merits of any of these stocks, but they are now ex growth. VTS is carrying too much debt, has some suspicious accounting policies for recognition of income, thus very heavy wip and debtors numbers and has had some questionable business experiences...charities scam closed down by HMRC, Sports advisory etc etc. Lat year had qualified audit report on going concern

[egoi] 07/1/2008 15:47

Results on Wednesday. Looks like some shrewdies are expecting a positive outlook. With Shares Mag and Sunday Business tipping it, so close to results, (which is unusual timing for both these publications) shorters now understandably running scared.

Been beaten down to artificially and unsustainably low level along with most AIM stocks and excellent value imho, though the cautious will probably want to see the numbers, even if it means they have to pay a rather higher price.

Outlook statement will be key, as ever.

[washbrook] 07/1/2008 15:44

agreeable.
I made a lot of money out of Lupus sold all my holdings in October-December 2003.
I had holdings in Creston warrants in 1994.

[washbrook] 07/1/2008 15:38

omalaha.

You are correct isn't anything to do with that jump on friday.

[agreeable] 07/1/2008 15:13

So 2008 starts all over and the truth fairy at Vantis is hard at work.....so they have come 157th in a listing of fastest growth job creation companies in Europe, share price rises on good news....but as with all things worthwhile looking at the list and see who else appears
No 7 is Lupus Capital, where the share price has halved
No 15 is Erinaceous....need i say more
others who precede VTS on the list include
Carter and Carter
Creston
Get the idea....it is a list of the most acquisitive companies,not the best!
I predict that 2008 will be a tough one for VTS

[omalaha] 06/1/2008 19:07

washbrook - your post isn't anything to do with that jump on friday?! also VTS has been tipped in Sunday Business...considering the hammering it's taken since last results it looks a buy for tuesday.

[washbrook] 06/1/2008 14:59

In these uncertain times.
Whether we are going to get a bought of Inflation.
Sterling is weak.
I have been in cash for over 12 months and deposit rates are of no value if Inflation is 4.5% or higher.Index linked gilts are having a good run.
I will be happy over 12 months with a net 8%.
I have data mined 19 stocks and this little known company appears to me for the first time.
I have read all 410 posts the stock to me looks over done on the fall.
Looking at this date of the year going back to 2003 and comparing the share price at that about 6th Jan and the April year end and this years forecast.
2003. 92p ..... pe =10.23 ... yield = 3.82%
2004. 119.5p... pe = 13.45.....yield = 3.24%
2005. 130p ... pe = 13.93.....yield = 2.97%
2006. 214.5p....pe = 31.73......yield = 2.22%
2007 231.p.....pe = 14.19......yield = 2.29%
2008 134p .....pe = 7.16.......yield = 4.3%

[mpilot] 05/1/2008 09:51

This made one of the "Plays of the Week" in S hares this week.

Solid argument that the insolvancy arm may be much more in use in the next couple of years!!

Its on my radar now, and with a 10p odd rise in last few days, it seems I'm not alone!

[agreeable] 17/12/2007 10:46

Beginning to look terminal, when equity value gets lower than debt the banks get nervous since they now become funder of last resort. All those institutions that took the Charles Stanley placing will want to see something happen, need to radically cut costs....then the big fee earners will start to look for safer havens...next stop 100p and lower

[spaceparallax] 05/10/2007 17:29

Was that the bottom - certainly looking healthier.

[agreeable] 01/10/2007 08:59

with bad news this morning from Debtmatters the big white hope of IVA counselling looks dead in the water for vts, another sign that now acquisitions are off the agenda due to high debt levels growth gets harder. What next...they have just won Northern Rock as an audit client?

[spaceparallax] 27/9/2007 09:25

AGM statement doesn't say much except that they are in line with expectations. Time will tell.

[agreeable] 17/9/2007 11:29

new advisers on board, now watch as all the charles stanley placees sell their stock so expensively acquired at 220p

[agreeable] 11/9/2007 09:45

Now wait for the rats to start leaving the sinking ship, all the partners who have had their payout in shares will start looking round to jump ship. Bankers will start to get concerned as equity values fall nearer to debt levels and so will start to turn the screw. Only one way to go, next stop 100p

[spaceparallax] 11/9/2007 09:12

Dave,

It's a while since that matter last reared its ugly head - I was hoping that it had been resolved.

[agreeable] 14/8/2007 09:23

well down now through support levels, next stop 150p,