Workplace Systems Share Discussion Threads

[zinco] 02/3/2004 13:45

in for some more 9725@12.25 now holding 62k :-)

[cockneyrebel] 02/3/2004 12:57

Anyone else here?

I like it when I'm pretty much on my own, usually signifies the pumper/rampers have yet to arrive with the 'this baby's gonna fly' posts.

Director buys always a good lead to me.

CR

[cockneyrebel] 02/3/2004 10:48

Moving up more after yesterday's director buys - might be missing a nice one here nurdin imo :-)

CR

[cockneyrebel] 01/3/2004 15:17

Don't the interim results say 0.455p eps post exceptionals and a/gw? That's 'after' exceptions and amort/good will.

They then say:

"Outlook

Following the sale of TeleWare all management efforts are now fully focused on
Workplace. The business remains financially sound with a strong cash position
and a significant proportion of recurring revenues. I expect to see a
continuation of the first half performance during the coming months with the
opportunity of further progress as business investment decisions return to more
normal levels."

To me that suggests 0.455p at least for H2 - 0.9p+ eps after amort'gw/exceptional I'd have thought. That big bundle of cash should be earning more interest in H2 and if sales have picked up then better than 0.9p might well be on the cards is my guess.

Oh well, I'll go with the director on this one. Post exceptional of just the 0.45p eps they have done in H1 would be a 2p eps improvement over last year - that's a huge improvement in an 11p share and suggests some earnings growth momentum. There's the cash in the business and the promise of a year end divi in June too.

Seems cheap to me - we'll see eventually I guess.

CR

[nurdin] 01/3/2004 14:46

CR..looked at these soon after their interims.Got carried away in my full year projections not realising that the ineterims included some exceptional gains.The Prophet put me right and heres is his reply:

''-nurdin, I agree these look interesting, but can't quite agree with your forward p/e predictions?
-the eps figure that WSI are quoting , nanmely the 0.624p eps pre-exceptional items and amortisation of goodwill does, as far as I can see, include the £909K profit on the sale of the subsidary company
-on-going profits of the actual business are £277K, add in interest on the cash pile and you get £369K which, on the average number of shares in issue of 164m and no tax charge equates to 0.225p eps.
-let's say they do a bit better in the second half, plus, for the second half, there are only 143m shares in issue
-so, for the year we are probably looking at 0.6p eps
-on a share price of 12.25p, thats a forward p/e of 20 odd
-or, strip out the 5p of cash (once the deferred payment is received), then we're looking at something like a forwward p/e of 12?

-don't get me wrong, think WSI look an interesting proposition , and with that cash, there is a limited down-side. There is plenty of scope for them to move up, depending on what their growth prospects are, but they are not on an underlying p/e of 7 as per your post 31, as far as I can tell, but something in the region of double that?''

Hope this helps

[cockneyrebel] 01/3/2004 14:27

I've had a bit of time to do some calcs on these now - does anyone have anyone have any broker estimates for these?

Looking at it WSI it looks like they could do 1p eps after exceptional and amort/goodwill and 1.3p or possibly more eps pre-exceptionalsamort/goodwill.

Single digit historic PE, starting to pay a divi and a forward PE in the low single digits perhaps - and very strong growth - is that the picture?

Director buying has got my juices flowing a bit here.

CR

[cockneyrebel] 01/3/2004 13:20

Looks like a director has just doubled his holding at the year end.

Very good and highly improved H1 results and the promise of a divi at year end too. Seems to be making quite a turnaround - might be worth watching.

CR

[rarther] 26/2/2004 12:51

Humm, 2.5m of that 3m looked like sells to me, but no way of telling how long they were delayed for.

Should be the sells that caused the gap down the other day.

[sandbank] 26/2/2004 10:21

Good solid buying late yesterday brings the price up nicely today

[sandbank] 24/2/2004 14:54

Fingers on the FAR3 Thread has done a useful update on his analysis of WSI for anyone who's interested. Here's the link:-

[davejan] 22/2/2004 23:35

All very quiet again....news source has dried up.

[rarther] 17/2/2004 22:48

None from me...

Very big sells going through onto the open market, so not encouraged to top up just yet.

Still 4 months until results. Should see some speculation before then though.

[sandbank] 17/2/2004 21:42

Well what's up with WSI then? Anyone any news or gossip?@:

[geeforce] 11/2/2004 07:37

and just to keep you happy I'll give you a 2% markup pre open this morning.
Well, would you look at that!!
errrrrr..........

[davejan] 02/2/2004 23:40

Geeforce and I met again at the barbers today, having some highlites in our hair, and agreed that Fingers is on the ball - will it be a leg break or a googlie ??

[rarther] 02/2/2004 09:31

Fantastic stuff fingers, I agree entirely.

I'm hoping for an explosion & breakout on results rather than a steady rise over months, because I haven't got a proper position established (far too stagnant here).

I should point out that there was a 4m cross trade last week which distorts the signals by showing extra resistance (X obviously doesn't affect price) and gives a false volume breakout signal, but still VERY bullish imo that someone wants that much stock above midprice.

16:41 (30/01) 11.75 22921 sale 11 13
15:07 (29/01) 11.75 1500 sale 11.75 12.75
12:22 (29/01) 11.75 689 sale 11.75 12.75
14:24 (28/01) 11.87 35000 sale 11.75 12.75
14:02 (28/01) 11.85 10000 sale 11.75 12.75
11:43 (28/01) 11.9 16914 sale 11.75 13
16:00 (27/01) 11.75 1931 sale 11.75 13
14:53 (27/01) 12.68 4000 purchase 11.75 13
09:10 (27/01) 12.38 2000000 ? 11.75 13
09:10 (27/01) 12.38 2000000 ? 11.75 13
14:50 (26/01) 12.9 3845 purchase 11.75 13
13:33 (26/01) 12.68 39432 purchase 11.75 13
13:11 (26/01) 12.68 15000 purchase 11.75 13

I will be looking for a spike in the number of trades, as there are people in the know on this share. Most of the people on this board have been referred to this company by someone in the 'financial industry' telling them its a sure thing.

Good to know that this share does actually register on traders/investors' radars! Keep up the great work.

[m5artin] 27/1/2004 11:21

Two very large X trades at 9:10 have brought me to look at this.
Anyone know what the company is doing at the moment.
The X trades must be genuine, they didn't move the price

[geeforce] 23/1/2004 21:33

Ra
I have a current portfolio of about 12 shares, of which 9 are a result of reading the bb and a bit of research.
The other three(wsi included)are from a friend in the business. It's not insider
information persay, just tells me what her firm are excited about at a given time.
Every now and then timescales are a bit out but we're not losing money -are we?
I'll leave ramping to the professionals thanks very much! :)
Suffice to say she gave me cne about 3 weeks ago and I'm still in!

AND - I cut my own hair! (Just like Dave.Actually we cut each others sometimes.)

[davejan] 23/1/2004 19:40

Well having reviewed your profile of 6 August 2003 perhaps it's the same analyst. Have faith it would be unprofessional to say more on an open forum !!

[rarther] 23/1/2004 12:02

Dave & Geeforce,

Are your sources in the finance industry?

Or do you both have the same barber? :)

[davejan] 23/1/2004 11:54

It would appear that my source is similar to that expressed by Geeforce - just seems to confirm that we need to sit tight and be ready.