Watermark Share Discussion Threads

[simon14] 31/3/2006 11:37

Translation please ?????

Made. we all love you, dont go anywhere, I look forward to your posts.

[rivaldo] 31/3/2006 08:54

SVG Capital in particular, with 7% bought at around these prices, will be looking for an exit at a decent profit - after all, a take-out/offer is presumably why they bought in in the first place as a private equity firm.

[stemis] 31/3/2006 08:17

rivaldo,

12 x underlying earnings of 13.1p is 157p so can we see it going for under 160p? Would seem a bit of a steal to me.

My average purchase price is 137p so I won't be amused to have shown such faith in Watermark over the last 12-18 months and then have my shares taken off me for less than 15% return!

[stemis] 31/3/2006 08:10

Whilst the short term outlook is downbeat (although "broadly in line with the previous year" is hardly a disaster as this years underlying EPS is the same as, what was previously, next years forecast!) clearly Caulcutt sees tremendous long term opportunities. I think the comment about private equity and an offer for the company, recognises that these opportunities will require significant capital and that, at the current share price, the stock market is not an effective way of raising it.

[rivaldo] 31/3/2006 08:08

Thx for that SteMis - nice analysis. Now e should speculate on what the offer price might be :o))

The current 134p seems far too lightweight to me on a historic adjusted P/E of just 9.25 - surely there's scope for another 25% on top of that at least?

[stemis] 31/3/2006 08:04

It will be interesting to see how the market sees the results

In post 1100 I said I was looking for a PBT of £8,126,000 based on2005 £7,126,000
H1 growth £782,000
H2 growth £218,000
2006 £8,126,000what I missed was that 2005 included a profit on sale of investment of £676,00. Take that off and you get £7,450,000 or EPS of 11.1p

What we actually got was £7,580,000 (albeit after a number of add backs) and a diluted EPS of 13.1 (slightly fewer average shares than I assumed and lower tax charge). This represents underlying profit growth of 17.5%.

Conclusion: Strong trading performance in 2006 - certainly not the falling turnover, contracting margins of the doomsayers!

[njp] 31/3/2006 08:03

rivaldo

The 'for sale' sign seems to have done the trick. ;-)

Sorry, made, looks like you'll have to buy to make money out of this one.

[welsheagle] 31/3/2006 07:34

So, in the medium and longer term the board
believes that the outlook is good with significant overseas opportunities to
take our Encompass total cabin management programme and set up operations
similar to those at our Heathrow Encompass Centre; these operations would be
supported by long term contracts for group services.

Bearing in mind the range, size and geographic spread of these opportunities,
as well as their consequent funding requirements, the board has initiated
discussions with providers of private equity finance on a variety of structures.
Given the funding requirements and the operational impact that these
opportunities could have on the group as a whole, these structures might
potentially include an offer for the company. Discussions are at an early stage
and there is no certainty that they will result in an offer being made. A
further announcement will be made when appropriate.

[maksud] 31/3/2006 07:24

slightly dissapointing outlook.but next couple of months will be intresting .

[rivaldo] 31/3/2006 07:23

Interesting stuff :o))

14.48p adjusted EPS is miles above forecasts...
Trading conditions this year are more difficult, but going forward looks fine
And WMK is up for sale!

We could see quite a rise if people cotton on to the "for sale" sign.

[sarscars] 31/3/2006 07:11

maybe an offer for the company ?

[assagai] 31/3/2006 07:10

Made - sorry but you are the weakest link!

Read em and weep!

[spaceparallax] 30/3/2006 20:39

Oh well, tomorrow's results and the subsequent Market reception over the next fortnight will reveal all and hopefully resolve the ongoing battle of wits that plagues the thread.

[made1686] 30/3/2006 14:49

yes but wmks earning will be down on larst year you will see I will buy i n may at a pound lower highs lower lowes not good,,, WAR WITH IRAN IN MAY

[simon14] 30/3/2006 09:25

It will take some time to sift through but it doesnt look as if the airline support sector is in too bad shape.

[simon14] 30/3/2006 09:19

Yes , Here are the highlights..



RNS Number:6430A
Alpha Airports Group PLC
30 March 2006


30 March 2006 Unaudited


Alpha Airports Group Plc

Preliminary Results for Year Ended 31 January 2006


Alpha Airports Group Plc (Alpha) is one of the world's leading aviation support
services companies, providing retailing and catering services for airports and
airlines. Alpha's 6,900 staff service over 100 airlines worldwide and operate
from over 200 outlets at 77 airports in 15 countries.


Financial Highlights


2005/6 2004/5 % Change
Sales £550.9m £487.8m +12.9%
Profit before tax* £18.5m £17.4m +6.3%
Profit before tax £18.4m £13.1m +40.4%
Earnings per Share 5.74p 3.78p +51.8%
Proposed Final Dividend Per 3.2p 3.0p +6.6%
Share


*Stated before separately disclosable items and impairment charges, including
the post-tax results of associate and joint venture.

[maksud] 30/3/2006 09:10

any comment on alpha airports results today guys.

[rivaldo] 30/3/2006 08:16

Just to reiterate as an example, PGB issued a bland Notice of Results RNS recently with nothing other than the date of their finals. Today they announced, and as expected the results were great and bang in line with expectations. The shares are already up almost 5% today.

WMK has done exactly the same. We can therefore expect tomorrow's results to be broadly in line at worst imo, in which case the current price will look similarly cheap and ripe for re-rating.

[made1686] 30/3/2006 02:19

no as i have said we will all buy at a £1 pound in may because that is what its worth and i am not a dealer i am a PI i buy off dealers do not need to be a dealer

[simon14] 29/3/2006 11:23

Made, heres a deal for you, , can I buy 50000 WMK from you in May at £1 please.

[njp] 29/3/2006 10:49

If it's such a terrible company, made, why is it worth investing at 100p? With your apparent views on WMK you should either be shorting this or investing your 'hard earned' elsewhere.

[made1686] 29/3/2006 10:45

lower highes low,er low,,es not good lower earnes this year not good one pound in may

[spaceparallax] 28/3/2006 11:44

Refreshing to see it again - that together with the broker upgrades really should signal 'no alarms and no surprises' in the words of the great Radiohead.