Work Group Share Discussion Threads

[deswalker] 14/6/2011 14:45

Yes, happy with that seeing as full year expectations are to nearly double last year's PBT.

They are clearly wanting to keep everything very low key, but on the strength of that statement I might be encouraged to up my forecast for 2012 slightly, perhaps to 840k PBT instead of 800k PBT.

Also, glad I didn't go too out of my way for the AGM. As I said above, it feels like a very tightly run ship both operationally and also in terms of shareholder interaction, so I'm not sure I'd have learned too much.

Back to waiting for the interims as the next data point.

[battlebus2] 14/6/2011 14:19

Yes SteMIS confidence for the full year will do me.

[stemis] 14/6/2011 13:59

AGM statement

Simon Howard, Chairman of Work Group, commented:

"While current economic conditions make it difficult to forecast too far ahead, the trading performance in the first half of the current financial year coupled with our extensive range of solutions for our mostly blue-chip, corporate client base gives us confidence for the full year."

Seems okay to me.

[deswalker] 08/6/2011 18:13

Don't think so. Was considering it but might not bother as it isn't particularly convenient. Also it feels like the sort of outfit that might not be that small-shareholder friendly as it's driven by a few big hitters.

Consequently I might leave it this year with the intention of making it next year but really hoping that we've been taken out by then. Not 100% made up my mind though.

[battlebus2] 08/6/2011 17:56

Yes and what a spread now 3p they sure don't want anymore buyers. AGM on 14th can't attend but it should be interesting. Are you going Des?

[deswalker] 08/6/2011 09:15

Well someone got out of bed this morning and bought 41k at 19p.

[battlebus2] 01/6/2011 20:58

Yes we are looking good Des and that was on no volume even on plus.

[deswalker] 01/6/2011 20:55

Tick up today

[battlebus2] 03/5/2011 18:47

The spread narrowing again today to a penny. Seen the days it was 2.5p so all to the good.

[battlebus2] 27/4/2011 09:12

That's what i thought lol!

[deswalker] 27/4/2011 09:03

maybe. maybe not :o)

[battlebus2] 27/4/2011 08:59

New advisor appointed today Merchant Securities. Any significence in this?

[battlebus2] 26/4/2011 22:00

Another likely pair of trades today for 40.04k

[battlebus2] 14/4/2011 10:11

Yes i tried a few dummies right down to under 5k before i could buy so did.

[deswalker] 14/4/2011 09:36

A dummy buy says there's only 2.5k available at the full 18.5p. Rare as hens' teeth again.

[deswalker] 14/4/2011 09:27

Odd they are for the same number so perhaps they are linked albeit 20 mins apart.

As per my post 202 I can't help feeling that there's either a tip out there or maybe even something more substantive. One lives in hope ...

[battlebus2] 14/4/2011 08:45

Couple of buys today who's guilty?

[battlebus2] 11/4/2011 17:23

Yes looks like you can sell at 17p now all very good.

[deswalker] 11/4/2011 09:00

Surprised to see the price marked up before the open this morning and wonder if there was some news or more likely a tip over the weekend. This share doesn't normally move on a market-maker whim ...

[battlebus2] 26/3/2011 23:08

Des i think if the shares rise substansially they will find plenty of sellers to match. I could buy and sell 25k on Friday for 16/18p so it's not that illiquid at the moment so wouldn't be put of buying. If you take the long term view you should have no problems imv.

[deswalker] 26/3/2011 18:04

I hope so SteMiS. The trouble is the illiquidity. What happens if they meet or exceed all forecasts and yet because there are virtually no shares available nobody decides to buy in ? Does the share price move up anyway looking for sellers or does it just sit there ? Right now there is 7.5k available at the full 18p so understandably nobody is rushing to buy.

I'm sat with decent positions in a few like this but for some reason don't feel too relaxed. What's the point in something being on an EV / EBITDA ratio of three or less if there isn't a market for the shares because it's so illiquid and hence hardly anybody is bothered. Shares valued at double this ratio seem to be doing fine solely because there is a market for them.

It's essentially Private Equity investing where one is positioning for either a takeover at a huge premium or big fat dividends due to the cash being generated but both of these may not come for years and in the long run we're all dead.

Sorry for the rant but I'm finding the market very frustrating. Stuff I regard as little better than dross get's bid up for the most tenuous of reasons but because nobody can buy very many of the shares in which I've built sizeable stakes over 12 months and hence the spreads are wide, my portfolio under performs. I guess I'll just have to stay patient for a while longer but it's time one of these hidden gems got the recognition it deserves from somewhere.

[stemis] 26/3/2011 17:26

Yes, nice to see the analyst forecasts moving up as I'd hoped. As Des says the 2012 forecast is just a marker giving them the room to move it up as WORK hit their 2011 numbers. Remember, its quite conceivable that WORK could be looking at 9-10p a share of cash if things work out well. I'd guess by then we'd be looking at a minimum share price of 30p.

[battlebus2] 18/3/2011 18:49

Sorry if i sounded a little pushy GHF but my enthusiam for WORK boils over from time to time. Liquidity is a problem in these micro caps which i'm a sucker for but i intend holding these for the long term i'm already holding these for two years now. Good luck what ever you do.

[glasshalfull] 18/3/2011 18:19

Hi battlebus - Get off the fence GHF and purchase some now....
LOL - "Yes, Sir!"

I agree that these look great value. I've kept an eye since Stemis flagged a year ago and I'm also interested in Des's stock picks (good update Des) as well as your own.

My only issue is one of liquidity. I'm already invested in a few micro-caps and illiquid AIM stocks as I'm sure you're well aware. I also happen to think those investments will perform well over the next couple of years so the options for me coming off the fence is freeing up one of those positions or buying into yet another illiquid share.

We'll see.

Kind regards,
GHF

[battlebus2] 18/3/2011 17:41

Get off the fence GHF and purchase some now as this won't be getting any cheaper soon. I see these trading at 50p in a couple of years.