Videndum Share Discussion Threads

[swalker] 15/8/2005 12:04

Still moving on up.

300p to 378.5p since end of May.

Some decent buying interest (for VTC anyway) today.

Still feel something is up.

[swalker] 28/7/2005 08:16

Oh there is some interest uk. We just dont like to trumpet our presence.

Interesting move up yesterday (5%) on little volume. I still feel VTC is a sitter for an MBO/Private Equity takeover but with the Dollar rising, especially against the Euro, this does ease the old problem we have had int he past on currencies.

[uk013645] 27/6/2005 04:32

Looking good and starting to go in the right direction, but little interest on this BB ?

[gorse] 20/5/2005 17:03

A director's purchase:

10,000 at 313p by Michael Harper. Brings his holding to 25,000. Better than nothing!



Gorse

[swalker] 12/4/2005 16:55

Yep agree there Gorse.

Harris are steadily increasing their position and they must have plans there. Im happy to continue holding and holding and holding......

[gorse] 12/4/2005 14:53

I always feel a warm glow when Harris add to their holdings in one of "my" companies.

Gorse

[swalker] 12/4/2005 10:29

Ah well - some action on the holdings front.



Harris Associates continue to accumulate. Now hold 9% up from 8.308% at 30/12 following various purchases.



Lloyds TSB and associates no longer hold a disclosable interest. Was 4.005% at 23/12.

So Harris Associates continue to build their position. Interesting.

[swalker] 21/3/2005 11:51

Hi Gorse

That move was an odd one. Mind you, there's no telling what goes through the minds of the life companies these days.

Good to see the price picking up a bit and I would guess that the big trades are part of the Pru holding being passed around.

I have to agree with you in that I cant see the Dollar staying weak, not so much since I think it is undervalued, just that the Euro inparticular looks overvalued. I dont have any direct US exposure at the moment, or even Europe (well, "core" Europe anyway).

Thinking of goign markedly into cash in the near future to build some defensive element into our portfolios. After this they will be mainly commodity related, cash, Eastern Europe and Asia with some soldi low rated, cashflow rich companies in the UK.

Darron

[gorse] 15/3/2005 11:33

D. - I noticed that, and I am simply presuming that Pru are masters of mistiming. Glad to have your interpretation of the results. I think it's good to buy where firms have been hit by the weak dollar (TOMK). I have been buying a few US shares recently - no stamp duty. My reasoning is: I don't have time to go to US, so why not take advantage of cheap dollar .... £ will surely slip significantly against the dollar within the medium term.

Gorse

[swalker] 15/3/2005 11:04

So Pru have cut back by an unspecified amount (RNS) to 5.51% from 10.41% (as at 25/1/05). Thats some cut 4,271,992 to 2,261,589 shares.

[swalker] 08/3/2005 12:24

A very good set of results considering the Euro/Dollar problems.

Still feel it woudl be an excellent MBO/PE play.

Oh, UBS have upped their price target to 360p from 330p but keep a neutral rating.

[swalker] 08/3/2005 12:24

A very good set of results considering the Euro/Dollar problems.

Still feel it woudl be an excellent MBO/PE play.

Oh, UBS have upped their price target to 360p from 330p but keep a neutral rating.

[swalker] 08/3/2005 12:23

Suppose I better put the final results in:



7 March 2005



The Vitec Group plc
2004 Full Year Results


The Vitec Group plc, the international supplier of products, services and
solutions to the Broadcast, Entertainment and Media industries, announces its
results for the year ended 31 December 2004.

2004 2003

Turnover from continuing operations £185.4m £170.4m

Adjusted, before exceptional items, goodwill amortisation
and impairment
Operating profit from continuing operations £17.8m £17.8m
Pre-tax profit £16.2m £16.1m
Basic earnings per share 22.9p 23.9p

After exceptional items, goodwill amortisation and impairment
Pre-tax profit £12.3m £7.8m
Basic earnings per share 15.6p 13.6p

Total dividend for the year 15.0p 22.7p



KEY POINTS



• Strong sales growth; 18% in constant currency, 8.8% in £ sterling
terms

• Profit before tax, exceptional items, goodwill amortisation and
impairment increased by 30% in constant currency, 0.6% in £ sterling terms

• Two businesses acquired during the year, both fully integrated

• Continued strong cash generation

• Enhanced financing arrangements in place

• Recommended final dividend of 8.9p per share, making a total of 15p
per share, in line with expectations.

Commenting on the results, Gareth Rhys Williams, Chief Executive, said:

'The year saw strong turnover growth as a result of a number of new products
being introduced into growing markets. Photographic continues to benefit from
an increase in demand for digital cameras, whilst the Broadcast market is slowly
improving.

'We started 2005 in a much stronger position than at the same time last year,
with higher order books and rising volumes. Going forward, Vitec remains exposed
to fluctuations in the US dollar, but, as a result of restructuring actions
taken over recent years, the Group is now in better shape. Overall the Board
views the outlook for 2005 with cautious optimism.'

[swalker] 14/2/2005 13:51

Nothing much seems to be happening. Its gone awfully quiet once more. Apart, of course, for the 100ks going round on 10th.

Guess its just a waiting game.

[swalker] 04/2/2005 11:03

What a dull day yesterday.

Anyway. RNS today - Nottinghamshire County Council stake at 5.01%

Previously not listed as a significant shareholder. No trade info in the RNS.

An odd one for someone to buy. I wonder who runs their pension scheme?

[swalker] 02/2/2005 17:01

Again nothing much today other than the late posting of a 78,197 at 335 for yesterday and 21,803 at 334.

[swalker] 01/2/2005 16:56

ONly thing really noticeable a 125k D at 335.67.

[swalker] 01/2/2005 11:50

A late cross yday of 37.5k shares?

No change really today. ARBT dropping off to 332 bid and UBS back into the pack at 332.

[swalker] 31/1/2005 13:43

So nothing much happening today. ARBT still bidding 335, UBSn 332 and the rest 330.

Spread has stuck at 335 - 350.

[swalker] 28/1/2005 17:14

Rounded off the day:

33k @341
33,167 @ 341
35k @ 339.83

Nothing else all day really - in terms of "normal" trades.

Stock is certainly being shifted around.

[swalker] 28/1/2005 14:12

So much for a quiet Friday.

10:20 and the D trades roll in, all at 340p:

100k, 40k, 60k, 52,376 and 150k.

A further 140k at 10:39.

[swalker] 28/1/2005 07:58

So I missed yesterday but again a range of reasonably large 25K trades and a 50k trade. These levels are not typical of VTC.

Looks like today it will open slightly firmer, reversing the small decline yesterday with ARbt and UBSn starting at 333 and 4 on the ask at 350p.

EDIT:

Correct that MLSB have just come in at 347 ask like last night.

[swalker] 26/1/2005 16:07

So, after eveyone moved to 330 - 350 we now have a move by UBSn and our old friends ARBT to 333 - 353. So the spread is back out to 17p after being as little as 5p this morning.

Another order being worked? I would guess so since there hasnt been a trade disclosed since 12:53 and they moved at 15:07 (Arbt) and 15:44 (UBSn)

The moves up are pretty aggressive givent he lack of trading in VTC.

Sorry if this all sounds like a journal. Im just putting my thoughts down so that I can keep track of what is happening.

[swalker] 26/1/2005 12:46

Well now, all change.

6 now bidding at 330p. INVn left on the ask at 345p with the rest at 350p. Some more smallish buys going through.