Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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Sorry. Repeating myself now!
and statement on 25 September.
and statement due 25th September.
Edison suggests fair value of 87p per share.
Since the well publicised collapse of Farepak Food & Gifts in 2006 and the suspension of shares in 2007, the company has come back fighting. Its annual profit grew 4.1% last year as both consumer and corporate business performed well, increasing billings even though revenue decreased. Park is a cash generative business with a strong, debt free balance sheet.
new high and still large buys coming.
humungous trades going through atm
acquisition today "for an undisclosed cash sum", hey hang on this is a public company, are they allowed to do that ?
movements here?
like major breakout here - 108/120p targets if she closes the week >81.50p ...
excellent results
trading statement was good in march. next week is results .two days of good rise in the share price.
UTRS!!!!
page 60 gives an update on this......>>>>>>>>>>>>>>>>............
The company's flexecash product, a pre-paid card launched two years ago, is being developed in a tightly controlled manner, while new applications for the platform are being introduced progressively. The company is now working with customers to build a similar solution that is adapted to their specific needs, which had delivered additonal sales volumes to the group. The value loaded onto the cards is more than double that seen at the same time last year (up 109%), with the value loaded since its launch totalling more than £83m across around 1.7m individual cards. "It is important to stress that the majority of flexecash business is incremental, as demand for our more traditional products is also remaining robust," the firm added. Elsewhere, the company's new e-money products launched since the year end include flexebens, an employee benefit scheme, and flexecodes, which allows users to make retail purchases online, both of which have been well received.
Gift voucher supplier Park Group held its annual general meeting on Thursday, where its Chairman, Peter Johnson, told investors that the strong performance since in the year to March 31st has continued in the months since. Speaking at the meeting the Chairman said the company's internet, social networking and Smartphone presence continues to "advance rapidly" and is investing in the latest technology to keep up-to-date with the latest developments in order to retain its market postion. "The current year has seen a continuation of last year's good progress with savings orders for Christmas 2012 currently at around 6% above the equivalent period last year," he said. "Corporate sales are also doing well, currently showing a 13% growth year-on-year while highstreetvouchers.com, our online business, has achieved an impressive 26% year-on-year increase in billings. These figures represent a sound achievement across the group, delivered against the backdrop of a weak economy and cautious consumer spending with customers understandably demanding increased value for money. "The next three months, running up to Christmas, will be the busiest period of the year and the order position is very encouraging. The board is confident that these positive indications should allow Park to deliver another year of growth, in-line with market expectations."
CONT "flexecash®, the prepaid card launched just over two years ago, has been transformational for Park and we are continuing to manage its development in a tightly controlled manner while new applications for the platform are being introduced progressively. Our development teams are building on the experience gained since launching flexecash® to work with customers in providing solutions tailored to meet their individual needs. This is creating new opportunities and delivering additional sales volumes for the Group. The value loaded on to flexecash® cards this year is currently 109% above the same time last year, demonstrating the exciting progress that is being made in the development of this product and the markets it serves. The total value loaded since launch is over £83 million across approximately 1.7 million individual cards. It is important to stress that the majority of flexecash® business is incremental, as demand for our more traditional products is also remaining robust. "New e-money products launched since the year end include flexebens®, an employee benefit scheme, and flexecodes®, which allows users to make retail purchases online. Both these innovative offerings have been well received. In August we announced that a leading consumer cashback website, TopCashBack, is to begin offering flexecash® cards to its 1.5 million members, making it the first cashback website to offer Park's platform. This is another example of how Park is capitalising on a new business opportunity created by flexecash®. Importantly it also further demonstrates the management's belief in the adaptability of the platform. "The next three months, running up to Christmas, will be the busiest period of the year and the order position is very encouraging. The board is confident that these positive indications should allow Park to deliver another year of growth, in-line with market expectations."
AGM Statement At the Company's Annual General Meeting to be held today at 12 noon, at The Vice Presidents Room, Tranmere Rovers Football Club Limited, Birkenhead CH42 9PN, Peter Johnson, Chairman of Park Group plc, will make the following statement: "Park achieved an excellent set of results in the year to 31 March 2012, demonstrating good progress across the entire Group from both traditional and new business activities. This performance has continued in the current year as we capitalise on our leading market positions and strong customer relationships, all backed by exciting new products. "In the results for the last financial year, which we announced on 12 June 2012, we outlined the impressive series of new product developments which have been introduced using the flexecash® card platform; the web; and new mobile phone applications. Park's internet, social networking and Smartphone presence continues to advance rapidly and the Company is continuing to invest in the latest technology, systems and know-how in order to stay abreast of developments and maintain our market leading position. "The current year has seen a continuation of last year's good progress with savings orders for Christmas 2012 currently at circa 6% above the equivalent period last year. Corporate sales are also doing well, currently showing a 13% growth year-on-year while highstreetvouchers.com, our online business, has achieved an impressive 26% year-on-year increase in billings. These figures represent a sound achievement across the Group, delivered against the backdrop of a weak economy and cautious consumer spending with customers understandably demanding increased value for money.
http://www.investegate.co.uk/Article.aspx?id=201209270700142718N
Valuation: Growth prospects undervalued Our DCF valuation is 58p per share and we consider a 12.6x calendar 2012 P/E ratio to be fair, equivalent to 54p per share. The average of these is 56p. Our earnings estimates would benefit from any increase in interest rates
It also said its Christmas savings business also performed well, with 2011 sales volumes 5% up on the year before. "Indications for Christmas 2012 are similarly encouraging with an increase in orders of approximately 6%," the firm added.
Park added that it was sitting on record cash balances, currently 21% - £11m - greater than a year ago. "During the year we have also launched mobile applications to improve customer service and will shortly be launching mobile and email delivery of our prepaid products," the company said. "This will open new markets which have, until now, been difficult to penetrate.
Gift voucher supplier Park Group gave a positive update on Wednesday, saying it expected a strong financial performance in its full year figures. The firm said investment in its prepaid card system, flexecash, and the ongoing development of its web-based business had created substantial opportunities. The results of this were now beginning to be reflected in sales volume, it said, with 47 large retailers now accepting or having agreed to accept it's pre-pay cards.
Park (AIM: PKG.L), the UK's leading gift voucher and prepaid gift card provider, today announces a trading update for its financial year ended 31 March 2012. The Company will announce its Preliminary results on 12 June 2012. The Company has maintained the significant progress reported in the first half. The investment in flexecash® our prepaid card system and the ongoing development of our web based business have created substantial opportunities, the results of which are now being reflected in sales volume. Since launching the prepaid card in June 2010 we have issued more than £75 million of value, most of which has been incremental. We now have 47 leading retailers who already accept or have agreed to accept flexecash® cards. These include (among others): Argos, Boots, Debenhams, Iceland, Matalan and Marks & Spencer. During the year we have also launched mobile applications to improve customer service and will shortly be launching mobile and email delivery of our prepaid products. This will open new markets which have, until now, been difficult to penetrate. The Christmas savings business also performed well. Christmas 2011 delivered sales volumes which were ahead by over 5% when compared with the prior year. Indications for Christmas 2012 are similarly encouraging with an increase in orders of approximately 6%. We successfully completed our first Christmas in Ireland, following the successful integration of the acquisition of October 2010, and our new Euro voucher has been well received there. Innovation and product development have resulted in increased volume in our corporate markets. Love2reward, the corporate division, has increased billings volume by 15%, compared with the same period last year, demonstrating the success and opportunity presented by our new developments. The Euro voucher has also enabled us to market to corporate businesses in Ireland. The strong performance of our businesses has resulted in record cash balances, which are currently some 21% (£11 million) ahead of the level a year ago. This will increase finance income and presents further potential for profit growth should interest rates return to more normal historic levels. The board expects to report a strong financial performance for the year ended 31 March 2012. Further to the recent announcement that Peter Johnson has become Non-Executive Chairman of the Company, Park also announces that Chris Houghton, currently Group Managing Director, will become Chief Executive Officer of the Group, effective immediately.