Member Info for jollyspeculator

for the year ended 31 March 2013 International Greetings PLC ('International Greetings' or 'the Group'), one of the world's leading designers, innovators and manufacturers of gift packaging and greetings, stationery and creative play products, announces its audited Preliminary Results for the year ended 31 March 2013. Financial Highlights: · Revenue from continued operations increased by 2% to £225.2 million · Operating profit after exceptional items up 34% to £9.1 million (2012: £6.8 million) · Profit after tax and exceptional items up £2.7 million to £4.1 million (2012: £1.4 million) · Fully diluted earnings per share before exceptional items increased 16% to 7.8 pence (2012: 6.7 pence) · Net debt up just £0.2 million to £42.1 million (2012: £41.9 million) despite the effect of exchange rates (£0.6 million) and the investment in working capital to fund new everyday contracts and low season manufacturing opportunities Operational Highlights: · Continued double digit growth in sales and profits in USA · Completion of China factory relocation · Gift packaging and greetings product sales exceed £150 million · Major £6 million gift wrap capital investment project commenced in the UK · Pressure on margins fully mitigated through effective cost control Paul Fineman, CEO commented: "We are pleased to report another year of progress in which our manufacturing businesses continued to produce record volumes of product and importantly we achieved our key objective of double digit earnings per share growth. "It was a pivotal year in the Group's development as we commenced a compelling programme of investment in manufacturing in the USA and the UK having completed a major factory relocation in China and significant investments in Europe and Australia. We have secured increased funding on improved terms to facilitate this. "Our new three year plan is on track to delivery double digit cumulative average growth in earnings per share, whilst remaining committed to debt reduction and leverage below two times debt/EBITDA. We have identified new opportunities for incremental growth and shall continue to deploy our resources and energy in accelerating and enhancing this process."

p/e slippery measure...suggest look at EV/EBIT and/or EV/production compared with AAZ, say aaoo/dyor

2.50, PT imv.. ...achl, agta, nar, mwe etc...the list of nearly net nets is long

of course (I was in danger of getting all religious)

as ever a measured and sensible post... ...I agree with your view on AAU (interesting but)...and agree with yr concerns about further dilution (even after recent equity placing)...I sold down half at tiny profit and am in wait and see mode over there ...gold price could easily keep (even accelerate) decline because it is so sentiment driven; shutting down production or curtailing dev (so limiting supply) may even trigger further decline (rattle confidence)...it's all about investor confidence (so more supply could be released from ETF holdings) not industrial supply (because not used by industry) aaoo/gl

Jolly wise imv

since March

and EV/P2 of around US$1/bbl check my calcs, but seems worth punt (again lol)

fingers crossed lol

..

because of massive spec over-reach has been reversed (triggered by prospect of QE taper) imv...gold not dependent on physical markets but on paper gold, so savagely at whim of speculators (ETFs etc)

tks...with an EV (largely net debt) over £10m (is that right?)...I'd want visibility on op profit of at least £1.8m...and I don't have that ...yet ...watching lol

is indebted and has neg tnw, swinger lol ...what is yr forecast EV/EBIT here for this year?

from results...like the clear statements re competition

Enteq has been transformed in the last year from an investment shell into a leading supplier of MWD systems to a huge global market. Acquisitions have been completed and integrated and step-change progress achieved within the product range offered to existing and potential customers. The image of the company is that of an international supplier of high quality and professional solutions. Challenging market conditions led to disappointing financial results for the first period of ownership of the acquired businesses. However, the potential for medium term growth and financial performance has been enhanced during the year, with a great deal more still to do. Improved trading is anticipated in the current financial year. Enteq's consistent strategy remains to buy, integrate and build high quality technology and products businesses for the upstream oil & gas industry, which has substantial market potential.

The dominant third party supplier of MWD equipment to directional drilling companies is GE, whose product lines comprised the Tensor system and the Geolink and Bluestar products which it acquired with Sondex plc (the previous company operated by the founders of Enteq). GE has discontinued the Geolink product line, which was the standard in the Eastern Hemisphere. The Enteq MWD system is based around the technology developed by XXT, whose founders were also the key developers behind the Tensor system. Enteq's MWD system is therefore compatible with existing Tensor systems but allows a migration path to a number of the enhanced sensors and controls which are now integral to the Enteq solution. A further competitor is APS, based in Connecticut, USA. APS has developed an MWD solution which has filled a gap in the market outside North America, especially as the Geolink product is no longer available. It is believed that APS has recently won a $100m supply contract to Venezuela, via a Chinese led integrated services package. This demonstrates the scale of the opportunities in Enteq's addressable markets. Enteq believes that its evolving solution will have technically differentiated features which set it ahead of APS. Two other smaller USA based providers, both 'spin-offs' from GE, BenchTree and Tolteq, are present in the market as are various 'system integrators'.

..better?

I enjoy your forthrightness...gl

clearly not the definition of insanity...just one rather curious observation only loosely connected to insanity imv.. ...a quote from the school of Bismarck ("learn from others' mistakes"...good fun and true but unsatisfying, shallow and irritating lol) ...as a counter to the quote consider Robert the Bruce/spider story HUNDREDS of years ago there was a king of Scotland and his name was Robert the Bruce. It was a good thing that he was both brave and wise, because the times in which he lived were wild and dangerous. The King of England was at war with him, and had led a great army into Scotland to drive him out of the land and to make Scotland a part of England. Battle after battle he had fought with England. Six times Robert the Bruce had led his brave little army against his foes. Six times his men had been beaten, until finally they were driven into flight. At last the army of Scotland was entirely scattered, and the king was forced to hide in the woods and in lonely places among the mountains. One rainy day, Robert the Bruce lay in a cave, listening to the rainfall outside the cave entrance. He was tired and felt sick at heart, ready to give up all hope. It seemed to him that there was no use for him to try to do anything more. As he lay thinking, he noticed a spider over his head, getting ready to weave her web. He watched her as she worked slowly and with great care. Six times she tried to throw her thread from one edge of the cave wall to another. Six times her thread fell short. "Poor thing!" said Robert the Bruce. "You, too, know what it's like to fail six times in a row."

suspect av price of director purchase was c 1.15p not 1.5p????