ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for discussion Register to chat with like-minded investors on our interactive forums.

VBT Vebnet (Hldgs)

253.50
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Vebnet (Hldgs) LSE:VBT London Ordinary Share GB0032392986 ORD �1
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 253.50 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Vebnet Share Discussion Threads

Showing 101 to 125 of 150 messages
Chat Pages: 6  5  4  3  2  1
DateSubjectAuthorDiscuss
16/9/2007
18:56
Chairman increases his stake by 15% as well.
wjccghcc
14/9/2007
16:40
Penny Share comment for anyone interested
tuffbet
14/9/2007
10:32
wjccghcc

I don't pay any attention to what brokers say but with your decision to top up - have done the same - as I have said before this looks almost recession proof, its soundly run , the directors have large stakes and a couple of canny financial institutions are in.

Blue today in a sea of red tells us something

tuffbet
14/9/2007
09:02
Added more this morning. Upgraded forecast from Seymour Pierce has tripled PBT and EPS for this year with revised PBT of 850k and EPS of 9.1p. Puts them on a PE of 11 with a strong pipeline for 08 and 09. This could shape up rather nicely.
wjccghcc
13/9/2007
19:20
Agreed WJCCGHCC re small number of share sales needed to move the price but now that earnings are growing, income from renewals is on upward path,and cash position is quite stable a 10-20% fall would not bother me.

As a shareholder all I ever want is to be enlightened as to the true position of the company's trading and cash situation. If I know that I can make my own judgements about other factors which might affect the price short to medium term and what others think about the company as reflected in the share price fluctuations doesn't bother me.

I sold out earlier not because I was worried about VBT's progress as a business but simply because I could see it was dead money up until the next announcement - only the prospect of a bid coming in when I was temporarily out of the stock worried me.

Liquidity and often enormous spread in the price are the only two things that need sorted out and hopefully management realise that and can do something about it in the near future.

tuffbet
13/9/2007
16:55
True tuffbet although even VBT will be hit if that happens, mainly because of its low liquidity. A few spooked PIs sell a few 000 shares and the share price will be down 10% in no time. Still it works both ways as evidenced by today's move.
wjccghcc
13/9/2007
13:11
WJCCGHCC

I think this s one of the best examples I have seen of markets not being as efficient as some of the academics would have us believe.

Shares in companies which don't have a sound and sustainable business model negative cash flow and no sign of making a profit in the foreseeable future have sometimes rocketed up on the back of a rumour or a tip sheet mention. In contrast VBT has, as the graph clearly illustrates, been ignored completely by the stockmarket despite making very steady progress and being ahead of their own financial targets.

Like you I decided some time ago there was little sense watching value waste away while gains could be made elsewhere so I sold and am now back in again. I may be wrong but I don't think the market can ignore the potential here for much longer.

My guess is that on the balance of probabilities we are heading into a recession and possibly a bear market but I am not confident enough about that to bet on that outcome. What I do think makes sense however is to load up with stocks which have not, in the past few years enjoyed unjustified rises and where shareholders would be quick to sell to preserve gains in the event of a market slide.

The fundamentals also have to be good of course and in VBT's case I think they are. So it looks to me like quite a good way of staying in equities just in case the markets keep on climbing the wall of worry but in relative terms probably significantly outperforming if we do hit the economic and financial skids.

Should we get through this period without a bear market correction I will be very surprised if VBT is not very substantially higher than it's current l;evel even after today's good move.

tuffbet
13/9/2007
09:53
Can't believe I sold these at 220p. Looks like they've got over the Pru dependence and are growing the business nicely. Back in today.
wjccghcc
13/9/2007
08:19
As expected strong set of results - tempting fate I know but I do suspect we have seen the bottom for the share price (barring a general bear market) and with a bit of good coverage from the financial heavies in the media might enjoy a strong run up in the price.
tuffbet
12/9/2007
12:44
interesting light hearted read
tuffbet
22/4/2007
20:27
More positive news - exsiting client retains and expands Vebnet service
tuffbet
23/3/2007
12:47
the spread on these shares is just ridiculous most deals which go through are at or near the quoted prices so the spread is 11% - take into account dealing charges and you need to clear probably 12.5% just to break even - that's capitalism.

It's time Vebnet put pressure on the MM's to encourage a wider spread of shareholders at the moment it doesn't trade like a public company

tuffbet
30/1/2007
13:15
Not sure when Vebnet updated it's website but I think the new one is a great improvement - lots of information there for prospective shareholders all very accessible .

Should anyone want a quick look click on this link

tuffbet
30/11/2006
11:12
VEBNET (HOLDINGS) PLC - AGM STATEMENT

At the AGM in Edinburgh this morning, of Vebnet, the AIM-traded leading provider of technology for flexible employee benefit schemes, the Chairman, Derek Scott, will report continuing strong growth in new client numbers.

'Since 1 July 2006, the commencement of the current financial year, FIX&FLEX(R), the Group's core product, has been implemented by 18 new clients covering 39,736 employees. These new clients include AON, ICI, ING Direct and Royal London. A further 13 new client implementations are already scheduled for the remainder of the current financial year.

The total number of employees using FIX&FLEX(R), as at 1 November 2006, was
211,730 - a 23% increase in the four months since the year end. Additionally,
the integration of 4th Contact, which Vebnet acquired on 2 October 2006,
progresses well. Their employees have relocated to our London office. We are at
an early stage of reviewing our platform strategy, with a view to convergence on a single application (for both sets of clients) and will update the market in the new year.

The sales pipeline for both self-generated direct clients and indirect business
through our several licence partners is healthy and growing and we remain
confident of meeting market forecasts for this and the next financial year.'

rambutan2
03/11/2006
15:57
Await another takeover any day
sageofclapham
14/9/2006
08:44
beat those forecasts, making 2p. current year looks promising...

Vebnet, the Edinburgh-based, AIM-listed, leading provider of technology for
employee benefit solutions, confirms significant progress in its business in the year ended 30 June 2006, with sizable increases in customer numbers, both
turnover and recurring revenues, EBITDA and pre-tax profit.

Highlights

• Top line increased by 17% to £3.9m (£3.3m).

• The number of employees using FIX&FLEX(R), the Group's core product, as at
30 June 2006 was 171,994, an increase of 85% from 30 June 2005. Customer
numbers increased from 50 to 86.

• Revenues from Vebnet's core business virtually doubled in this period to £2.9m (£1.5m) and recurring annual licence and renewal revenue increased from £1.1m to £1.8m, an increase of 64%.

• New direct clients included JP Morgan, Britannia Building Society, Tenon and
Informa.

• Net cash at 30 June 2006 was £2.672m, double that at 30 June 2005. This
includes £1.04m (gross) of new money raised in the successful placing
announced on 22 December 2005.

• Founding shareholder, Cross Atlantic Capital Partners, placed 750,000 shares
(8.8% of the share capital), but still retains an 18.4% shareholding. New
institutional investors include JP Morgan with 8.1% of the enlarged share
capital. The placing was oversubscribed.

• The senior management team was strengthened with three key appointments.

• Trading since the year end has also been encouraging:

o The number of implementations currently scheduled for the year ending
June 2007 is 20, adding at least 46,000 new employees.

o New customers include AON, Resolution Life, Royal London and ING Direct.

o Vebnet also engaged in preliminary discussions with two third parties in
relation to possible transactions, which may or may not result in the
acquisition of all or a majority of the outstanding ordinary shares of
these companies.

• In the y/e 30 June 2006, the company adopted the requirements of Urgent
Issues Task pronouncement 40 ('UITF40') in respect of accounting for the
recognition of non-contingent income from the provision of professional
services. In accordance with Financial Reporting Standard 3, the prior year
figures have been adjusted to reflect this change in accounting policy.

Derek Scott, Chairman, stated: 'Vebnet maintains its year-on-year record of
growth in developing its core business, with sizeable increases in customer
numbers, both turnover and recurring revenues, EBITDA and pre-tax profit.'

Referring to current trading and prospects, Derek Scott added, 'Business in the
first two months of the new financial year has also been encouraging. Already
this year, we have gained a number of new and large customers using FIX&FLEX(R)
and we remain confident about the Company's ability to sustain this growth. We
continue to look for opportunities to add shareholder value through profitable
sales growth, acquisitions and at the same time working more closely with our
distribution partner network.'

rambutan2
27/6/2006
11:49
Revised forecasts 1.75p for the year ending this month with 2.4p for the year ahead. Puts them on a prospective PE of 68 for the year ahead at 165p. Still a bit rich for me but will definitely be keeping an eye on them.
wjccghcc
27/6/2006
09:55
WJCCGHCC

No argument with what you say about market overvaluing potential and undervaluing cashflow agree entirely.

Like you I sold a chunk of my VBT last year above 200p but kept the rest as a core holding -. I sold for a different reason- I simply anticipated the shares would underperform in relative terms until the newsflow improved and the opportunity cost was therefore too high . That decision turned out to be correct but I wasn't going to be out of VBT in full because its difficult to acquire and a number of factors could cause the price to rise quickly.

Know what you mean about sometimes missing the boat - the market has a habit of making one feel foolish.

tuffbet
24/6/2006
10:50
tuffbet,

I'm no short-term trader. The transition from jam tomorrow potential to real cashflow valuation is a blurred area, but I tend to find the market overvalues potential and undervalues cashflow in many circumstances.

I sold most of my VBT at around 230p last year because the operating leverage was not as large as I thought leading to profits taking a lot longer to come through. So far it's been the right decision. I would attach a higher than market rating to VBT because of the potential but not one over 50. It's not as if they have completely unique technology or huge operating leverage although growing recurring revenues are a big plus. Also their move into the consulting area may eventually threaten some of the actuaries who provide them with a large chunk of their business - something that needs to be carefully managed.

As I said, I still hold a few and am happy to keep an eye on them. At some point I will ramp up my holding again, but not yet. Maybe I'll miss the boat - it's happened several times before :-)

wjccghcc
23/6/2006
21:55
WJCCGHCC

Would normally agree with you on valuation but I think VBT deserves a premium rating for a number of reasons some of which I have referred to before.

Personally I think we are in a Bear market and I want to be largely in cash with a few stocks which will see me throught that because their earnings will continue to grow even if we hit recessionary conditions . VBT stock is quite tightly held - thats bad if you are a short term trader but good if you buy on dips and hold very long term - you may have noticed apart from a mark down yesterday on one small deal the price never moved during the recent mini collapse and because its not traded every day or a hot stock chased after by the punters it won't be sold off in huge amounts when the next wave of selling hits the market.

I was happy to buy and hold when they weren't making profits because I could plainly see the potential -I am even happier now that earnings are coming through and cash is being maintained during the early growth phase.

I respect your opinion but you may just hold off too long and find they have suddenly gone away from you on the back of some institutional interest - we shall see.

tuffbet
23/6/2006
07:16
Perhaps. Doubled EBITDA is only 300k with PBT of maybe 150k (assuming same deductions as last year) and EPS of perhaps 1.5p rising to 2.5p next year. Still puts them on a PE of 105 dropping to 60ish.

I have a lot of respect for this company but their development programme means they're unlikely to provide a compelling valuation scenario for at least a couple of years IMHO.

I hold.

wjccghcc
23/6/2006
06:52
Stunning trading statement and doubtless upgrades to follow. Given the recent weakness this has some catching up to do


VEBNET (HOLDINGS) PLC


PRE-FULL YEAR CLOSE TRADING UPDATE

Outcome expected to exceed market expectations


Vebnet, the AIM-traded UK market leader in employee benefit technology
solutions, announces that the strong trading trend reported in the Interim
Announcement of 22 February 2006 has continued through the second half of the
financial year, which ends on 30 June 2006.


Unaudited turnover for the ten months to 30 April 2006 increased by 28% against
the comparable period of the prior year, and EBITDA doubled, despite a much
reduced contribution from the Prudential (UK). Net cash balances at 30 April
2006 stood at £2.1m (including £1.0m net proceeds of the December 2005 placing),
which compares with £0.9m at 30 April 2005.


Since the half year-end, Vebnet has:


• successfully implemented 21 new schemes, covering over 37,000 employees.
New clients include AA, JP Morgan and Rio Tinto; and
• strengthened the management team with appointments in both a senior
consulting and a senior operational role.


The Board anticipates that the increased turnover and significantly increased
EBITDA for the year to 30 June 2006 are likely to be ahead of current market
expectations. The Board also expects Vebnet to continue its record of progress
in the coming financial year, based on a strong implementation pipeline and
through the addition of consultancy and communications services which will
enhance revenue opportunities with both existing and new clients.


Vebnet proposes to make its preliminary announcement of results for the year to
30 June 2006 in mid-September 2006.

oregano
08/5/2006
12:14
This link is worth reading.

There is little doubt that the Revenue are closing down what were previously seen as tax planning rather than tax avoidance schemes and Trusts came in for a battering in the latest Budget as a aresult of which the wealthy will have to look for other legitimate Tax planning tools .

AIM shares have both CGT and Inheritance Tax advantages and the likelyhood id that lots more of the type of funds mentioned in this article will be coming along .

On the surface good neews for the AIM market but I suspect it won't be broadly based so I don't expect to see the money going into the hot sectors like mining, exploration, etc . They funds are going to be looking for the solid earners, the dividend payers and of course quality growth companies .

I think VBT is very likely to be a major beneficiary of this new money both from the point of view of the wealthy AIM investor who wants the tax advantages but prefers to pick his own stocks and via the Funds which have been set uo to maximise on the AIM tax advantages.

Only time will tell but there is almost certain to be a reaction soon in the super hot sectors and rotation into the best of the underperformers (in share terms ) and it will surprise me if VBT are not on that list.
Below is a graph showing the performance of VBT over the last 6 months relative to the FTSE 350 Index which I feel is more representative of the UK market than the FTSE100.

tuffbet
01/5/2006
23:47
they keep the best press cuttings page of any co iv'e come across. i like the march 06 nationwide piece...
rambutan2
22/2/2006
09:09
all looking set fair...

Vebnet, the Edinburgh-based, AIM-traded leading provider of internet-based
technology for employee flexible benefit schemes, announces a near doubling of
turnover in the half year to 31 December 2005.


FINANCIAL HIGHLIGHTS

* Turnover totalled #2.1m (2004: #1.1m).

* The pre-tax profit of #0.1m compares with a loss of #0.3m, and
earnings per share of 1p compares with a loss per share of 3p.

* Net cash at 31 December 2005 of #1.35m represents an increase of 2%
since 30 June 2005, and excludes #1.04m of new money raised in the placing
announced on 22 December 2005 which was received after the balance sheet date.

* The placing, which was over subscribed, increased Liontrust's holding
to 10.4% and introduced three new institutional holders, including J P Morgan,
which now owns 8.1%, materially strengthening the institutional register.
Founding investor, Cross Atlantic, still retains an interest of 18.4%.


COMMERCIAL HIGHLIGHTS

* In the period, 18 new clients were added, bringing the number of
clients using FIX&FLEX(R), the Group's core product, as at 31 December 2005 to 67, while the number of employees accessing FIX&FLEX(R) increased by 44% to 134,276 - roughly doubling in a year.

* New client implementations included Britannia Building Society and
Tenon.

* Development revenue in this period on the Prudential Flexible Benefits
Solution moderated as we concluded Phase B of the build. Discussions are ongoing with the Prudential on the next phase of development which may result in additional revenue later this calendar year.

* Trading since the half year end has also been very encouraging. Seven
new FIX&FLEX(R) clients have been won. In addition, 21 new implementations of FIX& FLEX(R) are scheduled for the second half, including a global investment bank with over 12,000 employees.

Derek Scott, Chairman, commented: "We are pleased with the progress made in the
last six months. Our core performance metrics - recurring revenues, new client
wins and employee enrolment numbers - continue to exhibit strong growth. We have also strengthened the balance sheet and attracted three new institutional
investors in the process.

"Vebnet is enjoying good visibility of turnover and the Board is confident of
meeting market expectations of increased turnover for the year to 30 June 2006.
In addition, we expect the good commercial progress achieved in the first half
and in subsequent weeks to continue through the second half and beyond."

Gerry O'Neill, Chief Executive, added: "The progress Vebnet has made in the
first half reinforces our position as the leading provider of employee benefit
technology solutions. The quality of our client and partner base clearly
differentiates us in the market."

rambutan2
Chat Pages: 6  5  4  3  2  1

Your Recent History

Delayed Upgrade Clock