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14-Jan-13 Goldman Sachs Strong buy 521.50p 800.00p 850.00p Reiteration 17-Jan-13 Panmure Gordon Hold 496.80p 538.00p 524.00p Reiteration 17-Jan-13 Investec Securities Buy 496.80p 580.00p 580.00p Reiteration
"SDL plc Trading Update Maidenhead, U.K. - Thursday 17 January 2013 - SDL plc, the leading provider of Global Information Management solutions, today announced revenues and profits for the year ended 31 December 2012. Revenue is expected to be in a range of £269.0m to £270.0m (2011: £229.0m) compared with consensus expectations of £270.1m. Profits before taxation and amortisation of intangible assets ("PBTA") for the period are expected to be in the range of £35.0m to £36.0m (2011: £39.7m), compared with consensus expectations of £36.1m. Net cash in the business at the end of the period was slightly in excess of £6m (2011: £70.4m), reflecting the acquisition of Alterian in January 2012. Gross cash at the end of the period was slightly in excess of £28m (2011: £70.4m). Commenting on today's announcement, Mark Lancaster said: "2012 saw another year of organic growth and significant strategic progress with the acquisition of Alterian, bringing marketing analytics, campaign management and social intelligence technologies to create a compelling Customer Experience Management solution." SDL expects to announce its results for the year ended 31 December 2012 on 12 March 2013 when further details will be provided." Share is down on the news, opportunity to top up!
Yes, though I could do with a dip below £5 to top up
@jollyspeculator It's looking pretty good at the moment, I expect all the brokers to re-rate the shares in next few weeks and remove any stigma that's attached to SDL. I think the return of Lancaster will certainly improve the running of the company!
On tiny volume hope management has grip...fingers crossed
Top Director Buys SDL (SDL) Director name: Mr Mark Lancaster Amount purchased: 170,532 @ 439.82p Value: £750,034
The Chairman and Chief Executive of troubled business, translation and communications software company SDL has added 170,532 shares to his stake in the company one day after it issued a profit warning. Mark Lancaster, who also founded the group in 1992, was clearly keen to show his faith in the group after a review of the business resulted in a reduction to its profit expectations for the financial year ending December 31st. He purchased the shares at 439.82p each, costing him a total of £750,034. In a statement made on Monday, Lancaster said: "Despite the short term shortfalls in the business, I feel more confident in SDL's technology stack and service solutions than I have ever been. In 2013 we will make additional investments in sales and marketing to drive long-term growth. We expect this additional investment to be between £3.0m to £4.0m in 2013." The group expects pre-tax profits before amortisation for the year to total between £36m and £37m on revenues of between £270m and £272m. The news caused the share price to fall around 70p on Monday. The stock has lost 32%, equal to 205p, in the past 12 months. Following the transaction, Lancaster's holding in the firm totals 668,946 shares, equal to 0.83% of the issued share capital.
SDL: Panmure Gordon downgrades from buy to hold, reiterating a target price of 538p.
Wrong board. SB BBY. Having a bad day at the office! lol GL Rich
TDI 246p to Buy!
I thought in similar way(s) at £5.40; naively, I read the earlier IMS as more positive than proved to be the case Now, I'm concerned that we are at the start of further downgrading of rev growth; profitability etc by a management that has been acquisitive and may have lost some of its grip..DYOR and best of luck Jolly nervous
TDI T5 447p!!
Forget the £ sign! lol
From TDI: T10 £446.60! T5 £442.50! T3 £434.60! So looks like they are anticiapting a bounce on this and want to keep any profit for themselves. Anyone else had this? Rich
Based on the Management Statement I feel that this is now in the oversold territory. SP has now come off 16%+ since then which looks like a bit of an overreaction. It`s a low risk Buy for me at this level as I feel a quick 5% return is very likely with limited downside from here. GLA Rich
Chief Executive Officer Mark Lancaster, who temporarily took on the role following John Hunter's departure, said: "Alongside our CFO Matthew Knight, I have undertaken a review of the business and the revenue and profit forecasts. The financial effect is to reduce our profit by about £3m to £4m in the current year." He added: "Despite the short term shortfalls in the business, I feel more confident in SDL's technology stack and service solutions than I have ever been. In 2013 we will make additional investments in sales and marketing to drive long-term growth. We expect this additional investment to be between £3million to £4 million in 2013." Looking to 2014 and beyond, SDL said it expects to see sustained growth in its technology revenues and improved profit contribution. Commenting on the results this is part of what analysts at Citi were saying: "This announcement confirms that the demand environment remains tough but the increased marketing costs to our mind highlights the challenges the company faces in transitioning to a technology company. We would expect consensus for 2012 and 2013 to fall by approximately 7-10% today in 2012 and 2013 [respectively] to reflect the revised guidance."
Business, translation and communications software company SDL said it expects a profits shortfall, following a review of the firm, as its struggles against poor sales and marketing execution, as well as the tough economic environment. "Management forecasts for the year are now considered to be too optimistic against market expectations," the group said in a company statement. SDL expects a profit shortfall of between £3m to £4m against current market expectations for the financial year ending December 31st 2012. The board expects to report revenues of around £270m to £272m and profits before tax and amortisation of £36m to £37m for the year SDL said the reduction came after taking a more cautious view of percentage-of-completion and cost-to-complete of certain services contracts in the second half of the financial year. "This will result in a profit shortfall in the current financial year of approximately £2m in the language services division," SDL explained.
SDL: Panmure Gordon reduces target price from 617p to 538p and downgrades from buy to hold. Peel Hunt reduces target price from 640p to 510p, hold rating reiterated. Investec reduces target price from 670p to 580p and upgrades to buy.
My stop loss hit - lost a bit more than you but not much. Considering bunging remainder in VOD (though prefer companies that pay their taxes).
just lost confidence in management - SDL products seem fine, but execution poor imo
(DYOR and not investment advice, of course) but seems from trading update that this year it is expected to come in just shy of 10; next year perhaps ?9 Well, Eco, we clearly made the wrong call. I have lost nearly £300 (ouch but luckily no more than that). Question is what to do now. I am still pondering..9 looks pretty cheap if SDL is still a growth stock, but I am (even) less confident of management. Certainly will not be loading up at these levels. Probably would sell some into any st bounce. May even sell some anyway...nervous not Jolly
The Board therefore expects SDL to be able to report revenues of approximately £270 million to £272 million and profits before tax and amortization of approximately £36 million to £37 million for the year end 31 December 2012. Mark Lancaster, Chief Executive Officer, commented: "Having stepped back into the role of CEO a month ago, I have, alongside our CFO Matthew Knight, undertaken a review of the business and the revenue and profit forecasts. The financial effect is to reduce our profit by about £3million to £4 million in the current year." He went on to say "Despite the short term shortfalls in the business, I feel more confident in SDL's technology stack and service solutions than I have ever been. I believe we have a unique combination of technology. In 2013 we will make additional investments in sales and marketing to drive long term growth. We expect this additional investment to be between £3million to £4 million in 2013. As we look further forward to 2014 and beyond, we expect to see sustained growth in our technology revenues and improved profit contribution."
v relaxing
Glad to see someone's still buying - decent late reported trade from this morning well above the ask. But otherwise, we close the week treading water again.
drift down Perfect loading up opportunity often comes with long tail off on loooow vol imo Jolly hopeful