St Ives Discussion Board http://www.iii.co.uk/investment/detail?code=cotn:SIV.L&display=discussion http://www.iii.co.uk/icons/logos/uk_logo.gif http://www.iii.co.uk tag:iii.co.uk,2003:tst.9468632 so assume this is a buyer rather than stock overhang
interesting times ahead i think


All IMHO, DYOR + BoL
SIV is in my top5 hldgs
By thirty fifty twenty ]]> http://www.iii.co.uk/investment/detail?code=cotn:SIV.L&display=discussion&id=9468632&action=detail Fri, 23 Mar 2012 11:32:00 GMT thirty fifty twenty tag:iii.co.uk,2003:tst.9460220
s.term would indicate that this wil lead to 95p
but if that is reached then it is also a l.term break out
that could mean a price up o 140p

interesting now to watch


All IMHO, DYOR + BoL
SIV is in my top5 hldgs By thirty fifty twenty ]]> http://www.iii.co.uk/investment/detail?code=cotn:SIV.L&display=discussion&id=9460220&action=detail Wed, 21 Mar 2012 14:55:00 GMT thirty fifty twenty tag:iii.co.uk,2003:tst.9411248 Today (2012-03-09 17:53:39)
http://bit.ly/xHhYQu By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:SIV.L&display=discussion&id=9411248&action=detail Fri, 09 Mar 2012 18:24:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.9410338 and although points out that making the right moves
also states that its old market printing and new market marketing services
are both in competitive situations
so depsite the p/e of 6, strong CASH flow and divi of 6.5%
ic concludes a hold


a disappointing write up from ic but can understand their lack of conviction
and obviously others do too thus the dull reaction to results
i still have faith that the CASH gernation of the business will lead to price c.120p
and decent yield in the meantime


All IMHO, DYOR + BoL
SIV is in my top5 hldgs
By thirty fifty twenty ]]> http://www.iii.co.uk/investment/detail?code=cotn:SIV.L&display=discussion&id=9410338&action=detail Fri, 09 Mar 2012 15:49:00 GMT thirty fifty twenty tag:iii.co.uk,2003:tst.9394192
market reaction down 2p not surprising given
- overall market down nealry 2% today
- no increase in divi

SIV is well iused to operating in tough markets
and to me the value is in the use of the excessive Cash flow
which more recently they have put into marketing services business......

on the positive......
- new acquisitions they state have been well intergated
- they have increase the earn out for acquisition (stated in notes) thus must be performing well
- they have a big increase in debtors b/c of large current orders

but disappoiting....
- although divi at 5p yields 6% i think some expectation for an increase which might cover with final
- events has not seen any uplift yet re olympics

- SIV has yet to prove its strategy is working before the price will gain any serious momentum
and in the meantime eps are forecast to be 16p with yield of 6%
so i value at c. 120p to give p/e of 8t and yiled of 4.5%
but might take 18 months to acheive
with potential to be c.150p if acquisitions proven to bed in.......

so not pleasant surpires to give an immediate lift
but still think that investment will give 15% return p.a. for next 2 years


All IMHO, DYOR + BoL
SIV is in my top5 hldgs
By thirty fifty twenty ]]> http://www.iii.co.uk/investment/detail?code=cotn:SIV.L&display=discussion&id=9394192&action=detail Tue, 06 Mar 2012 23:24:00 GMT thirty fifty twenty tag:iii.co.uk,2003:tst.9365518
given max price at 11.4m and an ebitda multiple with ebitda to feb 11 at 1.7m
i think it reasonable to assume that it is 6t ebitda on debt free basis
and profits expected to be a further increase on last year's 1.7m
they have been noted as one of the fastest growing in sector

also the further deal payment depending on future profits is relatively large at a max of 6m
so if again assume 6t ebitda then they believe profits might increase as much as 1m in next 2 years - i'm assuming the logic hear is that the highly talented team at incite gets hands on other SIV clients and thus able to increase profits so quickly. incite have already demonstrated they able to retain clients over a long period of time........

incite team alos seems ambitious so hope the cultural fit is good and given they have been so entrepeneurial can see them taking a bigger role within SIV over time.

ponder on the deal strucutre..... mostly CASH is good news for us SIV holders but wondered did it mean that incite did not want SIV shares which seems strtange as they such a bargin (IMHO) - though obviously i'm not keen for SIV to be issing shares at this discount price....
concluded that the 70:30 split is a reasonable balance in an relaisation route for incite team and involvment in SIV in future.

in total seems a great use of CASH for SIV.
CASH earning 1% and they buying business earning 16%
no wonder it is earnings enhancing!!

so it seems SIV back in favour with positive price reaction
on top of very steady price in recent weeks
and now breaking through the 200d and a chart resistance
if get lucky it might 'pop' soon and thus get back on more people's radar


All IMHO, DYOR + BoL
SIV is in my top 5 hldgs

By thirty fifty twenty ]]> http://www.iii.co.uk/investment/detail?code=cotn:SIV.L&display=discussion&id=9365518&action=detail Wed, 29 Feb 2012 09:44:00 GMT thirty fifty twenty tag:iii.co.uk,2003:tst.9220310 http://bit.ly/xRvJmb
By ROGER BAIRD
9:52 PM on 27th January 2012 By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:SIV.L&display=discussion&id=9220310&action=detail Sat, 28 Jan 2012 09:14:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.9217201 and confirms H1 will be better than LY
which should mean full year EPS of c.15p giving P/E of 5.5
and that divi is held thus giving yield of c.7%
so it is still above the ratio where yield greater than the PE
and the company has little debt and is hugely CASH generative
so still seems way undervalued to me
glad to have bought more on dip at 73p recently

i rate as weak buy as market does not seem interested at the moment
and dont think there will be any immediate re-rating of shares
i do think a reasonable value is 105p +
and form the chart any rise above 100p gives them good chance to reach 150p
but would expect this to be 2-3 years
though hope reality of olympic boast will give some mvt before then.

recent article in FT said that at the moment shares fall into 3 categories
1 - have some bad news and price collapses e.g. Tesco
2 - has some good news and gets big re-reating - e.g. TMMG (also a hldg)
3 - others (which on average are undervalued but market doesn't see reason for significan move either way)

so unless a late move this afternoon i see SIV firmly stuck in cat. 3
a bit diappointed but also realise that any investment can surprise and be a cat. 2 so grateful!


ALL IMHO, DYOR + BoL
SIV is in my top10 hldgs

3 -



By thirty fifty twenty ]]> http://www.iii.co.uk/investment/detail?code=cotn:SIV.L&display=discussion&id=9217201&action=detail Fri, 27 Jan 2012 11:42:00 GMT thirty fifty twenty tag:iii.co.uk,2003:tst.9159757
agree completely and have been buying today as well
the market feels as if it is trying to reach its base
which is good news as then investors might have some confidence for the longer term
SIV is used to tough markets
so will still be able to make profit
and more importantly throw off CASH at a greater rate than profit for next couple of years
so yes i agree a yield (up to 7% with a 5.5p fcst divi) marks a great top up poi

here's hoping

All IMHO, DYOR + BoL
SIV is in my top10 By thirty fifty twenty ]]> http://www.iii.co.uk/investment/detail?code=cotn:SIV.L&display=discussion&id=9159757&action=detail Fri, 13 Jan 2012 15:43:00 GMT thirty fifty twenty tag:iii.co.uk,2003:tst.9159431 http://www.iii.co.uk/investment/detail?code=cotn:SIV.L&display=discussion&id=9159431&action=detail Fri, 13 Jan 2012 14:53:00 GMT churjones tag:iii.co.uk,2003:tst.9011292 Investment Column:
http://www.independent.co.uk/news/business/sharewatch/investment-column-rising-revenues-and-healthy-yield-make-ig-a-good-bet-in-tough-times-6269778.html

NIKHIL KUMAR WEDNESDAY 30 NOVEMBER 2011

St Ives

Our view: Buy

Share price: 88p (+0.13p)

Yesterday's update from St Ives, the print and marketing services group, was reassuring. Sales in the 13 weeks to the end of October were up 10 per cent on the year before. The performance was driven by the marketing arm, while sales across the company's print business were in line with last year.

The latter division is the more problematic one, given the tough trading conditions. Indeed, the fact that St Ives has managed to maintain sales is commendable. It has also moved to streamline its activities, revealing yesterday that it had proposed the closure of its Westerham and Blackburn manufacturing sites, which print company reports and inserts for CDs and DVDs.

On the upside, the book printing sub division continues to do well. And as mentioned above, the marketing arm is going strong, driven by a combination of organic and acquisitive growth. The action to trim the printing arm makes this a more attractive proposition, as it reduces the risk attached to the business. In fact, it is enough to make us abandon our hold stance. By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:SIV.L&display=discussion&id=9011292&action=detail Wed, 30 Nov 2011 05:44:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.9011232
the company operates in difficult markets - that has been the case for several years
the positive is that they operate in those markets very well
they are lowest cost producers after years of heavy investment
thus are gaining market share in flat / falling merkets
and although margins are low they are able to rationalise costs
and throw off lots of CASH.

that said i think there was more positive in here than might have been expected
books (you would think might get destroyed by e-book) is 'very strong'
and they are pleased with their e-book strategy

they continuing on positives they have taken great action - selling one business for big money and in the IMS they confirm that new acquisitions have been well integrated and still see good potential for them - so good news

and then as a little icing their exhibits business will increasingly benefit from the 2012 olympics

in summaryt hey expect higher profits than 2011
so that is eps of c15p and divi of 5.5p
and as mentioned before the CASH flow will be stronger than EPS with currently no debt

so at 88p and increasing yield of 6.5% from CASH generating no detb company it all seems cheap but given the current economy and market volatility i think caution is needed as i expect the market to be lower in the future and thus at the moment would only rate a 'weak buy'. that said if the price can get above 90p especially after the ex divi drop tomorrow it will look very strong on the charts and might then be pulled up to its old highs of 110p.



All IMHO, DYOR + BoL
SIV is still in my top 10
and am in profit over last 12 months By thirty fifty twenty ]]> http://www.iii.co.uk/investment/detail?code=cotn:SIV.L&display=discussion&id=9011232&action=detail Wed, 30 Nov 2011 01:54:00 GMT thirty fifty twenty tag:iii.co.uk,2003:tst.8915510 Lets all get real this is an out of favour share that needs just what it is receiveing from management TLC a bigger boost to the divi and it will move upwards. By churjones ]]> http://www.iii.co.uk/investment/detail?code=cotn:SIV.L&display=discussion&id=8915510&action=detail Fri, 04 Nov 2011 19:46:00 GMT churjones tag:iii.co.uk,2003:tst.8915466
i like SIV at 94p b/c:

- new mgt team have tackled costs and strategic direction
- eps next year fcst to be 15p giving p/e of 6p
- Cap Ex is 9m less than depreciation giving enormous surplus CASH flow
- dividend increased more than 50% this year and likely to be 6.5p next year for yield of 6%
- share price found significant support at historic levels of 75p and currently has momentum
- if share price breaks resistance at 100p further upside likely to be towards 150p


All IMHO, DYOR + BoL
SIV is in my top 10 hldgs By thirty fifty twenty ]]> http://www.iii.co.uk/investment/detail?code=cotn:SIV.L&display=discussion&id=8915466&action=detail Fri, 04 Nov 2011 19:22:00 GMT thirty fifty twenty tag:iii.co.uk,2003:tst.8866868
i think that all restrucuring costs have been paid for already. the CASH they have has no other earmarked uses ther than the current divi of 5.5p.

for me the large CASH flow great than profits is most unrealised factor for this company

hope this answers your question.


All IMHO, DYOR + BoL
SIV is in my top 10hldgs By thirty fifty twenty ]]> http://www.iii.co.uk/investment/detail?code=cotn:SIV.L&display=discussion&id=8866868&action=detail Fri, 21 Oct 2011 10:05:00 GMT thirty fifty twenty