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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Xpertise Grp | XPG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 160.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 160.00 | 160.00 |
| Top Posts |
|---|
Posted at 26/8/2008 17:33 by qwazi Musings...Lynx used to hold 25% of XPG. I think the shares were distributed to the directors of Lynx as part of a reorganisation. (Richard Last, who is a director of Lynx, is the chairman of XPG). XPG had been trying to do a deal for ages and had finally agreed to buy Parity, which would have made them the second biggest IT trainer in the country. Then, QA-IQ come along and spoil the party at the eleventh hour. XPG can't be happy about this. But with over 40% of irrevocable acceptances, the directors have little choice but to recommend the offer..... unless.... Another offer comes along. From Lynx, or some newco connected to Lynx. Assuming they would have to acquire 75%, and it would need to be at least 165p for the other irrevocables to fall away = £7m + the acquisition of Parity @ £4.7m = £11.7 million. The company has already secured financing of £2.25 million from Barclays toward the acquisition of Parity, which leaves £9.45 million to find. I bet that Parity would be prepared to accept a vendor loan note for part of the consideration, say £2 million. Plus, XPG is sitting on £3 million cash. I would assume that only some of that could be used for acquisition of its own shares, say £1 million. That leaves £6.45 million to be found from other sources. How easy is it to find £6.45 million in the current market? Not easy, for sure. But you would be buying into a company with c.£2 million of pro-forma operating profit, the 2nd biggest company in the market, and an obvious trade buyer when you want to exit. It's a long shot, but worth keeping an eye on. As an aside, I note the offer values XPG at £8.7 million but Englefield Capital have agreed to provide QA-IQ Bidco with facilities of up to £10.62 million. I can't remember whether the cash confirmation has to include an estimate of costs, but even if it does, I can't believe that the costs for an £8.7 million transaction are nearly £2 million!!! £10.62 million would be equal to £1.88/share, or, allowing for, say, £1 million of costs, would be £1.71/share. If anyone here is more up to date with the Code requirements in respect of cash confirmations, perhaps they could comment. It just looks a bit strange to me. |
Posted at 12/5/2008 12:22 by qwazi Nice to have some company BR!Agree with your comments. I think what may be holding the price down is that training may be perceived to be one of the first costs to be cut in a cyclical downturn. However, I think that XPG are somewhat protected from these concerns for 2 reasons: (i) they have a good spread of clients are not over exposed to any one sector (unlike the financial training companies) and, more importantly, (ii) a decent proportion of revenue is secured under contract in their Managed Training services division, and so is not exposed to short term economic fluctuations. I really don't think that the market has realised that the visibility of its order book has improved substantially over the last two years. |
Posted at 13/12/2007 07:51 by saucepan Still in. The stock has not made quite the progress I hoped for yet (I expect as a result of general market weakness), but a very reassuring trading statement has been issued today - link in header - making the situation rather less speculative. I expect the uptrend to continue now.ShareScope now has XPG with a Projected P/E of just 8.54 and a Rolling PEG-1 of 0.24. |
Posted at 28/9/2007 09:37 by saucepan No posts, since I was here three weeks ago. A quiet thread is often a good sign. XPG ticking up nicely to new four-year highs this morning. |
Posted at 06/9/2007 19:38 by saucepan Hi to thread regularsXPG came through my ShareScope filtering exercise last night, looking for stocks with a Rolling PEG-1 of less than 0.75 making 52-week highs. The Rolling PEG-1 of XPG is just 0.20 Here are some additional fundamentals: Profit (£m) 2004 -0.55 2005 -1.36 2006 1.08 Turnover (£m) 2004 26.55 2005 43.86 2006 64.63 2007 (F) 144.10 2008 (F) 169.50 2009 (F) 184.80 EPS (p) 2004 -0.54 2005 4.28 2006 6.44 2007 (F) 9.00 2008 (F) 12.10 2009 (F) 14.90 Other: Projected P/E: 12.22 Beta: 0.16 Broker Consensus: Buy Investors Chronicle View: Buy After some further research, including taking note of the forecast growth detailed above, I went long today at 125p. The longer-term chart also provides an interesting "bigger picture" |
Posted at 14/8/2007 07:19 by dusseldorf Highlights> Results * Revenue up 35% to #10.6 million (June 2006: #7.8 million) * Operating profit before non-recurring items up 70% to #189,000 (June 2006: #111,000*) * Profit before tax up 53% to #191,000 (June 2006: #125,000*) * Cash and cash equivalents of #2.1 million (31 December 2006: #1.5 million) * Strong contribution from substantial new contracts ... Although no interim dividend is proposed, subject to continuing satisfactory trading in the second half of 2007 and subject to the working capital requirements of the group, we intend to pay a final dividend. Profit for the 6 months up 53% to £190k, if they could reduce their admin administration costs further it would really fly. |
Posted at 27/2/2006 20:02 by dusseldorf bossmanuk - nice site (good work - I guess ;))XPG won't find stability before its consolidation and subsequent institutional placings - the sole reason to consolidate is to attract further investment. I think they will be successful, but the process could draw out for several more months |
Posted at 22/2/2006 09:12 by bossmanuk Alistair,I have been keeping an eye on these for a little while. As you know I do work for xpertise but cannot divulge any info (So all other posters please do not ask any specifics). The Annual conference was very upbeat, continued growth etc especially in the Soft Skills sector. I am very happy with xpertise as an employer and can see a long term future for myself here. Despite the lack of confidence as reflected in the current share price, I believe that XPG are turning a corner. I can't say that we will see a price correction any time soon, but if next years results are as good as they are aiming for then we should see sustained northbound activity. (IMHO) Only. Let me just say this, If the offer drops I will be buying in. At the mo a 50% spread is ridiculous. Has anyone got the online Bid / offer? I can't be bothered to login to check for myself. Regards, BossmanUK |
Posted at 21/2/2006 02:16 by papalpower Now read two articles this evening saying sell or avoid XPG, will not be a nice Tuesday ahead for XPG holders I think. |
Posted at 14/12/2005 19:22 by alistair richmond BossmanukIts good to hear the vote of confidence for XPG. A few small buys today, hope thats you flying the flag now! I also hear RHPS has a buy on for XPG at the moment. Cheers A>R> |
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