This one as a market cap around 20 million and floated only a few months back but looks to have been overlooked by the small investor and could be a sound play as a defensive in these docile markets.

We all know about the number of people in debt and over burden with credit and also the huge increase in bankrupts. I picked out Debt Free Direct about 18 months ago as I could forsee the present market conditions taking place. Accuma is cheaper than Debt Free Direct after its large rise, and as far as I can see as larger number of areas it covers.

Heres a top fund manager commentating on it.................

Allsopp told Citywire: "Accuma is a perfect play on consumer debt and the softness of the high street. It will exhibit enormous growth going forward and is cheaper than bigger rivals like Debt Free Direct."

Heres what the company does..........................

The Group is a provider of tailored financial solutions and advice to
individuals who are experiencing debt problems. The Group's principal aim is to
help individuals regain control of their financial affairs by advising them on
the most appropriate course of action based on their individual circumstances.
The Group is highly regulated as its key product, an IVA, is a legally binding,
court-approved agreement and can only be administered by Insolvency
Practitioners (IPs) - individuals licensed under the Insolvency Act 1986 to
undertake insolvency appointments.

The Group's operations comprise a personal insolvency practice specialising in
IVAs, general debt advice and the referral of individuals to other solution
providers where appropriate. The Group does not lend money, nor does it take
clients' debt on to the balance sheet, thereby limiting its business risk. The
solutions offered to individuals depend upon personal circumstances and
principally comprise the following:

Individual Voluntary Arrangement (IVA)

IVAs were introduced as part of the Insolvency Act of 1986 as an alternative to
bankruptcy, enabling individuals who were struggling with unsecured debt
payments to reach a legally binding compromise with their creditors. Penetration
of IVAs has historically been low due to the limited number of providers, cost
to the consumer and perceived complexity.

The Directors believe that this gives the Group an opportunity to build critical
mass and create barriers to entry in a relatively short timescale.

An IVA is a legally binding, court-approved agreement between the individual and
his/her creditors, under which the individual agrees to make fixed monthly
payments, generally over a five-year period.

IVAs must be supervised by an IP and have many advantages for both the debtor
and creditors. The debtor avoids bankruptcy which can be of particular
importance for home owners or those employed in occupations where bankruptcy
would be highly disadvantageous. The IVA conveys a legal obligation on the
creditors to freeze all interest and charges and, subject to adherence of the
terms by the debtor, to write off any outstanding debts after expiration of the
fixed period. An IVA therefore provides both certainty to and reduced pressure
on the individual.

From the creditors' side, the attractiveness of an IVA is the ability to
forecast a higher return than in bankruptcy combined with lower administrative
costs compared to traditional debt collection. This is driven by a legal
obligation on the part of the debtor to make fixed monthly payments, or to
introduce other funds, which have been assessed by Accuma Insolvency
Practitioners (AIP), one of the Group's trading subsidiaries, as being
affordable and sustainable.

AIP does not directly charge the debtor a fee for its services; these are
received as a priority from the contributions made by the debtor into the IVA
and are agreed and funded by the creditors. AIP charges the creditor an initial
fee of 2,500 - 3,000 as well as an average 78 monthly supervisory fee which
over the five-year period gives good cash-flow visibility. Where AIP believes an
IVA is inappropriate the following solutions will be recommended:

Informal Arrangement

AIP advises on two types of informal arrangement, managed and self-managed,
under which creditors agree to extend the repayment period for the individual.
This is not a legally binding agreement and often interest and charges continue
to be applied until the individual has repaid the amount in full. Under the
managed scheme, AIP refers individuals to a non-connected company which manages
the scheme between individual and creditor.

Re-mortgage

This solution is usually suitable for homeowners with positive equity in their
property. This has until recently been a particularly strong area of activity in
the UK with individuals re-mortgaging to consolidate high interest credit,
taking advantage of lower mortgage interest rates and the high perceived value
of their property. AIP refers such individuals to professional finance brokers
and receives a percentage of any commission payable to the finance broker.

Consolidation Loans

This is a highly competitive area of the market where individuals take out a new
loan to repay existing unsecured debts. AIP recommends professional finance
brokers and would usually receive a percentage of any commission generated.

Bankruptcy

If an individual is made bankrupt, a trustee is appointed to manage their
financial affairs and to sell any assets that may exist in order to repay their
debts. Accuma does not directly advertise or promote bankruptcy as a solution.
However, as the Group aims to provide a full range of solutions, if bankruptcy
is deemed the most appropriate option, the individual is provided with free
information detailing the actions to be undertaken. ENDS.

Well worth a punt in these markets as a defensive play.

DYOR.

cheers GF.

Sounds interesting GF, gonna keep an eye on this.

I hear Mark Slater as just gone in aswell Hawick. Might have further news from Citywire when a buddy sends it on.

Heres the chart.



cheers GF.

Looks like they have changed the charts here, previous method not working.

cheers GF.

Shrewd Tip: Accuma accumulates shrewd crowd

Citywire has discovered the March float of debt advice specialist Accuma group was backed by four top fund managers, three of whom have increased their holdings further since its float.

Rest of article for registered users! on Citywire....
Interesting!

Cheers Sid, well heres the chart from the other board.



cheers GF.

You can get them at 96p within the spread.

cheers GF.

Shrewd Tip: Accuma accumulates shrewd crowd

Published: 12:29 Wednesday 18 May 2005 By: Graeme Davies, Investment Correspondent

Citywire has discovered the March float of debt advice specialist Accuma group was backed by four top fund managers, three of whom have increased their holdings further since its float.

Accuma (ACG) is a 19.4 million Manchester-based outfit that assists borrowers who have overstretched themselves. It has a range of instruments with which to do this but specialises in Individual Voluntary Arrangements (IVAs).

An IVA is an alternative to bankruptcy in which borrowers come to a compromise with their lenders and agree a five year repayment scheme. An IVA can only be administered by an Insolvency Practitioner such as Accuma.

The IVA allows the debtor to avoid bankruptcy and the creditors freeze interest charges and write off any outstanding debts at the end of the fixed period. For the creditor there is more certainty of receiving at least a reasonable proportion of what it is owed compared with bankruptcy and at lower administrative costs. Accuma takes its fees from the payments made to the creditors.

On top of IVAs, Accuma also arranges informal agreements between debtors and creditors, refers individuals to finance brokers for remortgaging if they have value tied up in property or for consolidation loans or in the worst case scenario advises an individual on bankruptcy.

With the UK consumer racking up debt in unprecedented amounts over recent years, Accuma is looking to expand its operations at what appears a prescient time. It raised 3.67 million at its 82p a share float in order to increase marketing and advertising expenditure as well as provide working capital.

AAA-rated fund managers Guy de Blonay of New Star and Mark Slater on behalf of Marlborough backed the float as well as de Blonay's New Star stablemates Jamie Allsopp and James Ridgewell.

Allsopp told Citywire: 'Accuma is a perfect play on consumer debt and the softness of the high street. It will exhibit enormous growth going forward and is cheaper than bigger rivals like Debt Free Direct (DFD).' Rising star Allsopp took 119,000 shares in the float and bought more in March and April to give his New Star Hidden Value fund (New Star Hidden Value A) a total of 178,000 shares

Slater bought on behalf of the MFM Bowland fund (MFM Bowland) and Marlborough Slater Recovery fund (MFM Slater Recovery Acc) which have held on to their aggregate 366,000 shares since March.

De Blonay holds 230,000 shares in the New Star Global Financial fund (New Star Global Financial Ret) having bought 95,000 at float and added to it during March. His most recent purchase was 15,000 shares in early May.

Ridgewell took a more modest 33,000 at float for his 8 million New Star UK Special Situations fund (New Star UK Special Situations Ret) and added 18,000 shares at the beginning of this month to take his holding to 51,000 shares.

Meanwhile, elsewhere in this specialist financial sector New Star's AAA-rated Patrick Evershed has added to his New Star Select Opportunities fund's (New Star Select Opportunities) holding in Debt Free Direct, which offers similar services to Accuma. He holds 737,000 shares, having added 87,500 shares to his holding since the beginning of this month.

Evershed has been very vocal about his concerns over the level of consumer indebtedness in the UK for some time. With the prospect of tougher economic times ahead and the number of people who have over borrowed in recent years at a historically high level companies such as Accuma and Debt Free Direct could find their services in growing demand.

Accuma's share price rose as high as 125p after its float but the stock market has been an unkind place for a new company in the past couple of months and it dipped as low as 80p before recovering to 95p where it is unchanged today.

Investors can take comfort in the fact the top investors who backed Accuma's float have stuck by it and even increased their exposure as its shares have slipped. It may be a slow burner but Accuma could have found itself in the right market at the right time. Long term buy.

Yes a very interesting read ST. Looks like this one could have legs over the comming summer months.

cheers GF.

Good find GF looks interesting--I'm tempted when funds permit. Have you noticed HBG this also should do very well in the current downturn-a pay as you go approach to the consumer lifestyle!

Ill have a look MP, many thanks.

Cheers GF.

Lifted from This Is Money....



Debt crunch will help the experts



Brian O'Connor, Daily Mail
16 May 2005

SELL in May and go away? Suddenly the market mood is fragile. The Footsie, which began the year at 4814 and hit 5060 in February, has fallen back to be barely 1% ahead this year. Retail gloom is deepening and so too are fears of a severe economic slowdown.


Speculative stocks, from mining to technology, have seen a sharp cull. A glut of new share issues is giving big investors indigestion.





Debt and derivative markets are worrying. Ordinary investors know little of credit default swaps and collateralised debt obligations. Whether regulators know more remains to be seen. When these markets go wrong, they trigger forced selling of bonds and shares.





Not all the signals are at red. Public spending is keeping some sectors buoyant. The next move in interest rates may be down, not up. The nation's debtors certainly hope so. Debt is one business that is booming. This is good news for specialist debt advisers.





Even MPs can go bust, as Neil Hamilton found when Harrods owner Mohamed Al Fayed sued him for 3m legal costs. Personal bankruptcies rose 26% to more than 13,000 in the quarter to March. Experts expect more than 50,000 this year. Individual voluntary arrangements (IVAs) with creditors are rising at 40% a year.





That is good news for Andrew Redmond, Paul Latham and John Reynard, who until four years ago were partners at Lancashire accounting firm Lathams. The firm was being sold, and the trio decided to buy out its debt management side. Eighteen months later they floated it on the Alternative Investment Market (Aim) as Debt Free Direct, which helps people to remortgage, consolidate their debt or negotiate an IVA.





This means debtors agree to pay a monthly sum for five years, based on a realistic assessment of what they can afford. A typical deal covers debts of 20,000. DFD gets a fee of at least 2,500 up front, plus monthly fees worth up to a further 4,500.





Canny fund managers like New Star's Patrick Evershed think firms such as DFD are well placed in a downturn. It is now processing close to 250 IVAs a month. Its broker, Teather & Greenwood, reckons this should generate operating profits of 8m a year.





But the shares have already been chased up to 157p, valuing DFD at 57m. That looks pricey against current profits, which Teather's Martin Cross expects to quadruple to 1.8m in the year just ended. DFD is selling at nearly 40 times these earnings. This high rating reflects the attractive prospects.





Rival Accuma looks cheap by comparison. Floated in March at 82p, it rose to 124p but is now 96p, valuing it at 19m. Chief executive Charles Howson, 38, used to run debt management firm Baines and Ernst. He owns more than 50% of the group.





Accuma's broker Daniel Stewart expects earnings per share to double from 5.7p in the year to July 2006 to 11.8p in 2006-2007. The shares sell at under eight times those earnings.


There are risks. Advertising for business is costly, and there is competition from the accounting giants. Profiting from human misery is tricky, though these firms claim to save you from a fate worse than debt. The biggest setback would be a sudden easing in borrowing problems. But with personal debt topping 1,000bn, that looks unlikely.

cheers GF.

PS, a swap from DFD to ACG could be well timed at the moment.

Invesco star Woodford points to consumer slowdown

Published: 11:18 Wednesday 18 May 2005 By: Laurence Fletcher, Funds Correspondent

Woodford, manager of the Invesco Perpetual Income (INVESCO PERPETUAL Income Inc) and High Income (INVESCO PERPETUAL High Income Inc) funds, has long been concerned about UK consumer spending, and now points out that the situation has deteriorated markedly in recent weeks.

He said: 'The past six weeks have been characterised by a notable deterioration in the consumer economy, suggesting, amongst other things, that higher interest rates are beginning to bite. At over 1 trillion, UK household debt is running at record levels, accounting for 75% of all consumer debt in Europe, and it now seems that consumers are beginning to moderate their appetite for borrowing.'

Woodford believes that consumer confidence is falling due to the effects of higher interest payments, utility bills, council tax payments and energy costs on disposable incomes. 'This is forcing many consumers to cut back on big-ticket items and non-essential purchases,' he said, pointing to recent negative trading statements from retailers.

'All of this is coming at a time when the Bank of England has just trimmed its own growth forecasts, and when the UK economy is facing other significant headwinds. The UK government, which has been a key driver of the economy in recent years due to strong growth in government spending, may well be unable to sustain present levels of expenditure without raising taxes. A slowdown in the global economy and sluggish growth in neighbouring Europe also add external pressure on top of these domestic challenges.

'It is too early to tell if the recent batch of weak economic data marks a change of fortunes for the overall UK economy, but it does seem to point to a much tougher environment for retailers and consumers alike.'

Woodford's funds continue to have a more defensive bias, with positions in stocks such as British American Tobacco, National Grid, Imperial Tobacco, BT Group and United Utilities.

Over the past five years the Invesco Perpetual High Income fund has risen 68.7%, beating an average 15.2% gain among funds in the UK Equity Income sector and a 7.2% decline in the FTSE All Share index.

cheers GF.

Price down on more buys than sells. Ah well Ive got a very bullish Broker note coming.

cheers GF.

From Daniel Stewart Brokers BUY...............


Morning Brief Accuma Group 11 May 2005 ACG BUY

Recent price weakness gives strong buying opportunity We view the recent share price decline driven by weakness in the wider equity markets and an absence of company-specific newsflow as a strong buying opportunity. We anticipate that strong growth in the underlying IVA sector is benefiting the business and would expect a re-rating of the stock in the short term. Accuma has a July year-end. Poor macro-economic indicators favour the business It would be hard to miss the widely reported reduction in consumer spending, driven by a slowdown in the housing market and higher interest rates, which are causing pain to numerous over-indebted consumers as well as higher levels of jobless claims. This is being witnessed not least in gloomy trading updates amongst retailers such as Matalan and HMV, with retail sales figures released yesterday showing the biggest decline for April in over a decade, but also in personal insolvencies, which rose in Q4 2004 by almost 35% y-o-y. Q1 of 2005 showed a 20% increase in court orders against people who were unable to fulfil their mortgage payments. Moreover, we expect further pain. A recent slowdown in UK manufacturing may lead to more job losses and 100bn of fixed rate mortgages agreed in 2003 are due for refinancing at presently higher interest rates. IVAs are a dual win solution IVAs offer the consumer a legally binding, finite and manageable repayment schedule with no risk (subject to adherence to payments) of losing ones home. Fees are borne by creditors. From Accumas viewpoint, IVAs offer good revenue and cash flow visibilityand are highly profitable. Accumas business model is low risk as it does not lend money nor expose its balance sheet to client debt. The success of IVAs can be seen in the 41% increase in case numbers in the UK during 2004. Valuation At the current price Accuma trades on a prospective P/e of 14x to July 2006, falling to 6.8x for July 2007. This is based on a weighted EPS of 5.7p to July 2006, rising to 11.8p (+108%) for 2007. By way of contrast, Debt Free Direct (DFD.L) trades on a prospective P/e of 24.3x to April 2006, falling to 20.3x to April 2007. This is based on a weighted EPS of 6.5p (+66%) to April 2006, rising to 8.0p (+24%) for 2007. Daniel Stewart & Co acts as Broker and Nominated Advisor to Accuma Group.

cheers GF.

Well the buys are certainly coming in now.

cheers GF.

Suprised more arent in this one as I expect it to take off all at once.

cheers GF.

Im following this with interest GF,, but im a bit jittery to go in to anything new at present..JB..

Been away from the markets for a while, and the situation doesnt look much brighter than when I left off. This one looks great GF but I cant see myself buying anything at the mo. It does seem to have been hit by the slump like everything else but as soon as things brighten up a bit I think I'll be in.

Quite a bit of interest on other boards. Way cheaper than Debt Free Direct.

cheers GF.

Well its certainly moving now and theres a lot more to come, better get in before the herd.

cheers GF.

With you all the way gf.
Another good call.
Regards

Cheers Porky, its taken a few days to move but it looks like somone must have tipped it this morning.

cheers GF.

And the Buys continue to come in. NICE.

cheers GF.

And up she goes again. Really is a time to get on board before the advfn vultures.

cheers GF.

And we have more buyers.

cheers GF.

Another good call GF. Not in yet but watching.

MS

Yup MS, we got a late T seller and the buyers mopped up all his sell so I see no problems from the off tomorrow. Well worth having a look earlier in the thread re- to the valuation of this one and Debt Free Direct (its on the brokers note), its way cheaper and I think we have investors moving over from them.

cheers GF.

Just take their word that this is an excelent company.

We owed a fortune, over 22,000. Wed tried everything
and didnt know what else to do. Then we called Accuma.

They reduced our monthly payments from 900 to under
300, arranged for nearly 10,000 of our debt to be written
off. Stopped all interest and charges, and best of all, it
didnt cost us a penny. The service was free. Now weve
got our lives back!.


cheers GF

Go on take the plunge now or itl be you who needs this companys services.

cheers GF.

LOL, i might just do that.

A little bit of background re to this companys market...............

The Market

Historically AIP has attracted prospective clients primarily through direct
advertising in a range of media channels including press, directories, radio,
the internet and more recently television. Prospective clients call a free-phone
number that is answered by a team of experienced debt advisers who collect
personal and financial details in order to ensure that recommendations can be
made based on the most appropriate course of action considering the personal
circumstances of the individual concerned.

According to a report published by the University of Wales, commissioned by The
Insolvency Service:

'Unsecured consumer debt has risen at a compound rate of 12-15 per cent each
year since late 1997. This phenomenon is in large part a reflection of
favourable economic factors, national credit policy, social pressures to
demonstrate certain patterns of perceived material influence, and hard marketing
by lending institutions.'

The Bank of England's recent Financial Stability Review (December 2004), noted
that unsecured lending had been rising more rapidly than mortgage lending. In
November 2004 consumer debt passed the 1 trillion barrier; 182 billion of
which is outstanding on credit and store cards, personal loans and overdrafts.

According to the Financial Times, the average household now borrows 140 per cent
more than its combined income, up from 90 per cent in 1998 and from 100 per cent
at the peak of the last boom in the 1980s.

The Bank of England also believes that 'the growth rate of household
indebtedness is likely to remain strong over the next few years' and with 42 per
cent of individuals with unsecured debts experiencing repayment problems

Directors of Accuma believe that this increasing level of consumer indebtedness
creates a strong opportunity to rapidly increase market share and create
barriers to entry in a relatively short timescale.

cheers GF.

A quite day for this one and a bit of profit taking I see. The trend though is truly well and up. Certainly worth having in your portfolio as a hedge against volatile markets.

cheers GF.

Oh sorry wrong thread.

Another reason why people should be snapping up these shares..........

Bad debts stunt Barclays
MoneyAM

Barclays reported flat income growth in its core UK banking business over the first quarter.

The bank said bad debt provisions at its credit card division rose faster than expected, in a further sign that the UK consumer boom is running out of steam.

But the high street bank said overall profit growth was 'good,' with operating expenses rising in line with income. It added that it was sticking by its earlier forecast of double digit income growth for the year as a whole, with costs expected to rise in line with income.

'Barclays has delivered good profit growth in the first quarter of 2005. We have accelerated the implementation of our strategic agenda by organic investment and acquisition,' CEO, John Varley said in a statement.

The bank reiterated that it expected its acquisition of a 60% stake in South African retail bank Absa, agreed earlier this month, to contribute to group profits in the first full year following completion.

cheers GF.

Bad debt be talked about by the day.

This one as certainly a future.

cheers GF.

Looks readt to tick up.

cheers GF.

Hi GF, im in with a small holding should be enough to help it tick up. This company looks a good hedge against choppy markets......

Cheers for the info

HBoS warns on bad loans
MoneyAM
Banking group HBoS said trading over the first four months of the year was in line with expectations.

However, the banker warned that bad loans had continued to rise.

In a trading update, the bank said non-performing consumer loans rose 'in line with previous guidance' during the January to April period, with secured and non-secured lending both affected.

The rise in bad loans at HBoS tallies with recent trading updates from rivals Barclays and HSBC, who warned that higher interest rates and rising utility bills had contributed to a deterioration in UK credit quality.

HBoS said it still expected to hit its profit growth targets, helped by a steady increase in revenues and tight cost controls.

The bank, Britain's biggest mortgage provider, said net mortgage lending was 'robust' during the first four months, while sales of insurance and investment products were 'meaninfully' higher compared with the same period last year.

HBoS added that corporate banking had continued to perform well, helped by a 'vigilant' approach to lending.

The bank said it had so far bought 230m of shares under a 2005 share buyback programme budgeted at 750m.

AND...................

May 28, 2005

Defaults on credit cards and loans will top 4.5bn
By Caroline Merrell and Patrick Hosking



PERSONAL borrowers in Britain are expected to default on a record 4.5 billion of bank loans and credit card debt this year as hundreds of thousands of households struggle to meet repayments.
The soaring rise in arrears is likely to mean a sharp increase in the number of people facing county court judgments, bailiffs, confiscated earnings, bankruptcy proceedings and even home repossessions.



City analysts were yesterday revising upwards their estimates of the scale of the problem after Barclays Bank admitted on Thursday that the number of cardholders in arrears had risen sharply in recent months. It said that those already in arrears were paying back less than in the past.

Rising mortgage bills and the volume of outstanding personal debt in Britain, now more than 1 trillion (one thousand million), are blamed for the growing numbers of people in difficulties. Credit card companies have been abandoning interest-free offers which enabled borrowers to stave off the day of reckoning.

Jonathan Pierce, a leading analyst with Credit Suisse First Boston, said that the large British banks were preparing for their customers to default on a total of 3.7 billion of unsecured personal debts this year, a rise of a fifth on last year.Adding defaulting customers of American lenders such as MBNA and Capital One, and of building societies, takes the total level of personal unsecured defaults this year to about 4.5 billion.

Mr Pierce said: Most indicators suggest a further increase in defaulters during the year, and not just confined to credit cards. There could also be further issues with personal loans and overdrafts.

His analysis is based on the assumption of relatively benign economic conditions low unemployment and comparatively low interest rates continuing. A sharper slowdown could lead to job losses and a more serious level of arrears.

Personal bankruptcies are up 30 per cent, to 37,900, in the year to March. New rules allow bankrupts to escape their debts after a year and wipe their credit record clean six years later.

A bank-backed charity that helps people getting into difficulty with debt is expecting a flood of fresh clients. The Consumer Credit Counselling Service, which fielded 180,000 calls from distressed borrowers in 2004, is increasing staff to handle 300,000 calls by 2006.

Malcolm Hurlston, its chairman, said that it was hiring extra staff to be in place by summer, when he expects calls for help to intensify: Its a bit like the Battle of Britain: will we have the pilots ready in time?

Banks yesterday were accused of using increasingly aggressive tactics to collect debts from defaulters. A debt advice charity has written to the Office of Fair Trading raising concerns over high street banks increasing use of private debt collection companies. AdviceUK has sent the consumer watchdog the results of a survey carried out at 73 of its advice centres which found that debt collectors were flouting OFT rules on collecting payment.

Nick Pearson, national debt co-ordinator of adviceUK, said: The debt collection firms used by the banks have a vested interest in recovering debts as quickly as possible and they do have a tendency to cut corners. The activities of debt collectors are the biggest cause of complaint among our advisers.

Norman Lamb, the Lib Dem MP and a member of the Treasury Select Committee in the last Parliament, said: The news is evidence of a worrying trend. The Goverment needs to at least show an interest in the level of private debt.

cheers GF.

From the latest Daniel Stewart note...................

Valuation At the current price Accuma trades on a prospective P/e of 16x to July 2006, falling to 6.8x for July 2007. This is based on a weighted EPS of 5.7p to July 2006, rising to 11.8p (+108%) for 2007. By way of contrast, Debt Free Direct (DFD.L) trades on a prospective P/e of 24.3x to April 2006, falling to 20.3x to April 2007. This is based on a weighted EPS of 6.5p (+66%) to April 2006, rising to 8.0p (+24%) for 2007. Daniel Stewart.

cheers GF.

All buys so far today.

cheers GF.

Just ticked up . NICE.

Due another tick up soon

Seems to be a lot of volume going into this one now BB. Can only be good for the stock.

cheers GF

Looks ready to tick up.

What do you think of the new entrant aim mentioned in shares, debtmasters? do you think there will be a negative effect on accuma? The debt mountain is big enough for all three companies but am wondering how this will react......?

Not really bothered BB, Debtmasters is already out there so its not as if its new competition.

Im sticking with Accuma and its excelent management team.

cheers GF.

A nice rise up this morning.

cheers GF.

Seems its been an excelent day for these.

Cheers GF.

Nice tick up this morning

Yes looking rather strong at the moment.

cheers GF.

This one is one of favourite in the portfolio, its not gonna shoot ahead and give you grey hair along the way its gonna be a steady ascent back to the initial placing place......hopefuly

Good news for the stock bad news for cosumers..............

Individual bankruptcies up 24.5%
MoneyAM

The latest Government figures, published for May, show that individual bankruptcies were up 24.5% on last year, at 10,091.

Several lenders, including Barclaycard, HSBC, HBOS and the Royal Bank of Scotland, have recently warned about bad consumer debts.

According to Britain's leading debt charity, Consumer Credit Counselling Service (CCCS), debt is beginning to affect a wider spectrum of people, including the better-off. The number of clients estimated to be earning 50,000 a year or more being helped by the CCCS to come to special arrangements with lenders has almost doubled since the first quarter of 2004.

cheers GF.

Nice tick up today.....up 2.5p! Its only a matter of time with this one i think this one is definately a long term winner.

Its strange that this has not been picked up on more radars, the debt market is one of the only markets that guaranteed to increase

Up another 4% today, this looks like it has the potential to emulate DFD

Yup BB looks like we are seeing a breakout here.

cheers GF.

Another tick up today, are we the only ones capitalising on this gem gf?

Looks like it, but who cares we dont want that lot from advfn getting wind of this.

cheers GF.

PS, found it pays to keep quiet on certain stocks.

Breaking out, Im in. Felt like I missed the boat on DFD.

Welcome aboard Paul, this is motoring this morning a full breakout in progress! DFD quadrupled due the Individual Voluntary Agreements im sitting on this one for the next year when it hopes to make a major brake into the black........

Going nicely guys.

cheers GF.

Sorry to post off topic,

Take a look at recenly listed on AIM (22/06/05) "Debtmatters (DEBT)",
(in same sector as DebtFreeDirect(DFD) and Accuma(ACG)).




Came out with excellent news today (just a snippet of the best parts below):

RNS Number:5225O
Debtmatters Group PLC
06 July 2005


Debtmatters Group plc

(the "Group" or the "Company")

Key Appointments

IVA caseload continues to grow as key appointments are made

The Board of Debtmatters Group plc is pleased to announce that it has appointed
two Insolvency Practitioners (IPs) to underpin the rapid growth of the Company's
Individual Voluntary Arrangement (IVA) business.

These appointments are significant for the Group, which will now employ four
IPs, and exceeds the Company's expectation at the time of its recent flotation
of employing just one additional IP during the current financial year.

(below is the best part):

"the Company is pleased to announce continued growth in its IVA caseload. During the quarter ending 30 June 2005, IVAs approved by creditors averaged 151 per month, representing an 84% increase on the first quarter of 2005. This result has been achieved without any material increase in the cost associated with IVA case acquisition."

And also (note- "dramatic growth"):

"Our recent flotation and fund raising on AIM now provide the business with the resources to roll out our targeted marketing of Debtmatters' services and build upon the dramatic growth of our IVA business."



Full article can be found here:

http://moneyam.uk-wire.com/cgi-bin/articles/200507060700015225O.html

Must be about 25% up now on accuma in very quick time. Not bad going at all and far much more to come.

cheers GF.

Nice rise also for Debtmatters.

Nicely marked up this morning after the carnage looks like we can push onto new highs

Yup a defiant V sign from this one and the whole market to those murdering bastards yesterday.

cheers GF.

up nearly 10%

i agree gf

Going very nicely north again.

cheers GF.

Nice trading update yesterday, glad to see it didnt dip at all after good news which suggests that investors have taken positions in this one and not speculators! Its always a bit safer when your in growth stocks like this a one way bet!

Whats your price target on this one for the next 12months GF?

Hi BB,

I never ever put a price on a stock myself. Just keep watching and hoping to be honest and never use stop losses.

Just use the experience upstairs and keep an eye on the P/E which in this case is very reasonable.

Sorry to be rather negative in that area but beleive we have some to go yet and a P/E on this stock of around 20+ unless we have bolt ons would get me 'fishing a little'.

cheers GF.

Morning GF,

This is flying along again after a small dip yesterday up 10% on all buys this morning! What did you mean about 'unless we have bolt ons would get me fishing a little? excuse my ignorance........

I think your right about targets and stop losses. Im a bit risk averse these days after getting battered this year so I tend to bank profits a bit early. I banked profits in SEO and NET recently just to be on the safe side. This one has really got the wind behind it its hard to justify getting rid of these with the growth potential it has.

cheers

Hi BB,

what I really mean is that if the P/E was to go above 20/25 and there were no signs of earnings aqcusitions to bring the P/E down I would feel it was a bit topy and might sell until the stock moved cheaper.

Anyway were well ok at the moment.

cheers Gf.

Cheers GF,

Im happy with this one, the trading update was very good reading last week. Nice to see VANE moving as well

Nice buy before the bell, was given a mention in Saturdays Telegraph ticking up nicely to a new high today

Yup looks like we are the only two in this one , shame as its risen about 50% since I first posted it here. Still theres time for more.

cheers Gf.

Well what do you know, up again. 'Loads a Money' blackbelt.

cheers GF.

They say ignorance is bliss, but I dont understand how you could be happy over looking this!! By the time people wake up to this one we will have a double bagger on our hands.

SSSSSSSSHHHHHHHHHH dont tell anybody about this one

I have'nt told anyone...wish I had taken your advice...lolololololo

Wish I had too Ethel! No spare cash and now it seems too late.

If you review the performance of DFD then there is still time to make some money on this one. Its a growth market with plenty of potential for organic and M&A growth. Ive been wanting to top up when I liquidate some cash but its never nice to buy at the top. The problem is it just keeps on rising.

Mental note, always watch any new threads set up by GF its normally a won way bet to riches DYOR of course

Tick up again today

I'm in now! expecting the markets to drop though with the latest nasty news from London no words fit these people.

welcome aboard MP, the incident wll probably just be a hoax but you cant take any chances with these guys sick bastards........getting back to Accuma, plenty of buys went through but the MMs will hold it down today until things pan out today but I hope for a good mark up tomorrow ideally through the milestone 1.50p

Going nicely again today.

SSSSSSSSSSHHHHHHHHHHH!!

Yes Paulo2 just as i suspected its sailed through the 150p mark, I knew the MMs were holding it back yesterday! I love this sleeping beauty ZZZZZ

What more can you say up 12p (8%) on the day now 157p finishing at the highest level of the day. The way its going 2 is not out of the question in the not to distant future. The MMs are happy to let this fly............fine by me

Write up in todays Financial Mail saying the city id braceding itself for bad news on consumer debt over the next two weeks as banks report half-year results. Several have already warned that bad debts among retail customers have grown in the first half of 2005. Rising unemplyment and a sluggish housing market have led to fears that the consumer borrowing boom could leave banks with major problems as customers default on debts......

This can only be good for Accuma with debt rising relentlessly they are in primes position to reap the rewards.......

Up again all buys this morning

Now were up about circa of 60% and still going strong.

Looks like were the only two in this one BB. Must be the crowd over on the site over the road who have twigged.

Think Ive found another little gem aswell AGCERT AGC. If you have time take a gander at it. A play on green house gasses etc.

cheers GF.

Sorry got that wrong nearlly 70% up now.

cheers GF.

Certainly will GF, its an extremely lucrative growth market with the Kyoto agreement guidlines to be met

cheers

Up another 4p, now 163.5p........unbelievable

How long have you been in ACG, it looks another gold mine but im scared that ive missed the boat due to rise lately!

bouncing around a bit this morning but recovering well--glad I joined this wagon!

Hi BB, been in ACG from 91p. Seems to be a profit taking day in general on the market today. Still think theres plenty left in this one though.

Nice to have you on board MP.

cheers GF.

Lets not forget what one of the top leading fund managers had to say for the company back in late May.................


Heres a top fund manager commentating on it.................

Allsopp told Citywire: "Accuma is a perfect play on consumer debt and the softness of the high street. It will exhibit enormous growth going forward and is cheaper than bigger rivals like Debt Free Direct."

cheers GF.

I agree looks like a bit of profit taking all round. DFD and debtmatters are both down today as well in the sector im tempted to add another tranch if I can free the money tomorrow.

900 up at one point--250 down by the close!! Whew you need nerves of steel with this one or perhaps I need to learn not to be greedy. Anyway happy to hold on as I'm sure this one is only just in the early stages yet.

Early stages indeed MP.

cheers GF.

Bit of a pullback today.

Im gonna top up this morning its just a small retracement due to it having such a run. A tree shake always gets some out, im not moving on this one its going to 2

Im not selling either BB. Just thinking about topping up.

cheers Gf.

Hi Goldfinger had to take profits on this one due to short term cash flow problem. They like they may retrench a bit further for a good buying back opportunity! Good luck il be back in them soon!

Nice doing business with you

very nice bounce back in this one while I've been away--hope it continues.

And off she goes again. Bought into this as I was just jokingly hedging against the gaming sector -- and what a nice little earner it's turning out to be.

anyone know any news? this is a good rise today. keep it up ACG

Lovely. Heading towards a bagger for me and pretty quickly.

Sees ya in about 4 weeks time.

cheers GF.

DFD and DEBT doing well again today. Seems sentiment may have returned to the sector.

After a pull back this one is scaling new highs and looks to have a great future--I'm still holding anyone else still in??

Yup still in even though its a bagger.

And we have more good news. Growth Company Investor have slapped a BUY on it this evening. Here it is.........................................

Sums add up for Accuma - BUY
Companies: ACG
27/09/2005

UK consumers currently owe over 1 trillion between them 185 billion is unsecured borrowing outstanding on credit and store cards, personal loans and overdrafts. Three AIM companies are capitalising on this burgeoning problem by offering an innovative way out of debt to the 42 per cent of people the Bank of England believes are experiencing repayment problems.

An Individual Voluntary Arrangement (IVA) allows a debtor to agree to pay a fixed amount monthly over a certain number of years, normally five, after which the debts will be cleared. This allows him to avoid bankruptcy. Creditors appreciate this tool too, as they are assured of receiving a greater proportion of these debts than under a bankruptcy.

The three AIM-quoted debt advisers that arrange IVAs Debt Free Direct, Debtmatters and Accuma receive a fixed sum for setting up the agreement, paid before the creditors start to receive their repayments, and then a monthly sum to supervise the IVA throughout this period.

All three companies are currently benefiting from the increased popularity of IVAs. Recent figures from the DTI said total insolvencies rose 36.8 per cent in the second quarter compared with the same period a year ago, but numbers of IVAs jumped nearly 70 per cent.

Debt Free Direct has the longest history on AIM. Since joining the market in late 2003, its shares, recommended by Growth Company Investor, have jumped 400 per cent. This happened as turnover doubled to 8.4 million in the year to last April and a first substantial pre-tax profit of 1.5 million was made. The company now has a fifth of the IVA market.

Debtmatters and Accuma are currently smaller but both should experience similar growth as the whole market continues to grow. Debtmatters, with a seven per cent market share, has already seen its shares shoot up 60 per cent from their 65p starting price in June and Accuma has more than doubled from its debut price of 82p in March.

However, a recent trading statement from the latter concern shows that this could be just the start of a successful stint on AIM for Accuma, which is younger than its two rivals. Accuma also charges slightly more for its services than Debtmatters: up to 3,000 for an IVA initially, followed by 78 each month for five years, or 4,680 in all.

The group is at an earlier stage of its development, having only started in its present form after chief executive Charles Howson bought the business in 2003. During the quarter leading up to flotation the number of IVAs completed stood at 46 per month. Since then, this has picked up to 86 in May, 106 in June and roughly 160 in July.

That equates to an annualised rate of 1,800, already matching forecasts for 2006, assuming there is no further growth. This exceeds the overall IVA markets growth rate. With Accuma planning to advertise on television as well, the companys growth should continue. Further out, Howson plans to expand the groups offerings of financial products.

The 39-year-old Howson, who owns 47.8 per cent of the company, acquired Accuma after spending nearly two years at leading debt adviser Baines & Ernst. Many of the executives in his team also come from that organisation. A new IT manager has recently been installed to support the companys anticipated expansion.

It will take time for this to show through in the companys financial figures, since the costs of installing business systems, business development strategies, advertising and setting up IVAs are incurred up front. Most revenues are received over the succeeding five years after the IVA is agreed. Future contracted revenues now stand at 4.7 million.

Even the Bank of Englands decision to cut interest rates in early August does not affect Howsons current bullish outlook. He believes the scale of consumer indebtedness in the UK will provide significant growth prospects, despite the prospect of lower interest rates.

House broker Daniel Stewart has said it will revise its forecasts upwards in October when the full year results are announced. Investors should buy ahead of this.

Christopher Spink

cheers GF.

First move up in a while. A lot of activity this afternoon.

cheers GF.

Well this one is doing the right thing and moving north.

cheers GF.

Wow really moving on up now.

cheers Gf.

Nice chart. Look at the RSI aswell.



cheers GF.

Finished at the end of a very good day a little weaker than in miday trading. Not to worry the trend is up.

cheers GF.

How you doing Gf, brought back in the other day before the rise! Glad to say with the profits I took from this a month ago! I liked the potential of the acquisition

Hi BB, glad to see you on board again. Just wait until results next month and we get the upgrade it should fly, the broker must know the results are going to be good......................

House broker Daniel Stewart has said it will revise its forecasts upwards in October when the full year results are announced. Investors should buy ahead of this.

cheers GF.

Im always more content when ive banked the profits and then let them run like a grey hound with this one! You must be on a healthy profit by now?

Dont mean to post off topic but I've got a company for you to look at with bags of potential, ive brought a couple of tranches recently and the results are excellent have a quick look RC group they issued results yesterday! Their 6 month period revenue has already passed last years full revenue! Its a good solid play on the global terrorism let me know what you think

* Group interim turnover grew 411.83% to 4.76m (2004: 0.93m)

* Profit before tax increased 238.1% to 1.42m (2004: 0.42m)

* Major corporate customer contracts renewed and further prestigious accounts
won

Funnily enough this one RM came out on my database sift a few nights ago. For some reason Im not sure at the moment as I go through loads of them each evening why I didnt take it further. Any idea off hand what the P/E is as thats the major one I use for loading them off.

Ill certainly go more into this one looking at those figures, many thanks for the Tip BB.

cheers GF.

They have a market cap of 15m so its pretty damn small I can tell you that! It has a P/E of a utility company with the growth rate of a tech company it seems like a perfect addition to your portfolio considering your existing members

Looks a sound company BB having a few bob in the morning. Thanks for the notification cheers GF.

Ps, I think it was just the small size that initally put me off.

Looking ready to tick up.

cheers GF.

Was expecting a tick up myself rather strange but at least the rest of your stocks are having a blinder!

RC Group up today must have been the massive buy you had the this morning LOL
I fancy Shares or IC picking up on this one soon due to the results being realised after it had gone to press! Terrorism is here to stay so is debt

Telit is looking rather good impressed by the director buy!

All good stuff, BB keep the good work up and send me a message if you have any more good ones on the envolope above, would be much appreciated, cheers GF.

Nicely rebounding from yeaterdays low GF! Made a couple of purchases this morning due to falls!

Topped up on Metal Tech MTT! I know how you love companies with low P/E's and strong growth so check out this one see what you think! P/E is under 6 with next years about 4.5! Plus check out the growth rates below quaility long term hold

Highlights:


Revenues up by 227% to US$55.0 million (2004: US$16.8 million)

Gross profit margin increased to 27.0% from an average of 24.2% in
the full year of 2004

Earnings per share (EPS) up 320% to US$0.21 (2004: US$0.05)

Net profit of US$8.1 million, significantly above half year 2004 net
profit of US$1.6 million

Six months net profit to 30 June 2005 exceeds 90% of net profit for
full year 2004

Successful admission to AIM in May 2005 raising 10.5 million before
expenses

Opening ceremony of the new molybdenum plant in Mongolia took place
on 5th September, making Metal-Tech the pioneer, and as yet only,
foreign company to establish a hydrometallurgy chemical plant in
Mongolia. The new plant should increase the profit margin of the
Mongolian present operation.

MTT looks very promosing. Will have a good look many thanks BB.

Accuma doing the decent thing and moving on up.

cheers GF.

Excelent results from Accuma............

Accuma Group PLC
18 October 2005




Press Release 18 October 2005


Accuma Group Plc

('Accuma' or 'the Group')

Preliminary Results

Accuma Group Plc, a leading provider of personal debt advice specialising in
Individual Voluntary Arrangements (IVAs), announces its maiden results for the
year ended 31 July 2005.

Highlights

Admission to AIM on 9 March 2005 and placing to raise 4.1m
Turnover increased 191% to 2.85m (2004: 977k)
Gross profit increased 83% to 642k (2004: 349k)
Loss before tax of 473k - better than expectations
Strong balance sheet with net cash of 1.8m
Acquisition of Wilson Phillips and associated placing to raise 3m
Future contracted revenue now stands at 8.8m at the end of September 2005
IVA cases completed in the period increased 232% to 734 (2004: 221)
Strengthened senior management and operational resource
Significant investment in IT to ensure scalability and robustness of
systems
Group market share increased significantly - currently 11%

Commenting on the results, Charles Howson, Chief Executive of Accuma Group,
said:
'I am pleased to report Accuma Group's maiden results since listing on AIM in
March 2005. The Group has made significant progress, both operationally and
financially, in the period since flotation. Accuma has benefited from investment
in marketing and resources and our increased profile has enabled us to build our
strategic referral relationships. This will ensure highly efficient client
acquisition and enable us to maintain our competitive advantage.

'The current, and indeed widely forecast, macro indicators point to further
strong growth for our industry. Given the significant increase in new case
volumes and future contracted revenues, together with investment in both
management and operational resources, I am confident that we have established
the momentum for strong earnings growth for the year ahead and beyond.'

For further information:
Accuma Group Plc
Charles Howson, Chief Executive Tel: +44 (0) 161 235 6408

charles.howson@accumagroup.com

www.accumagroup.com

cheers GF.

Strange that the SP rose and then fell when the results came out.

rgrds
gk

Happens with them all at the moment gallick.

cheers GF.

Bullish writeup in weekend sharewatch FT today."The shares look a sure-fire hedge against the consumer downturn"

Also tipped in the Guardian.

cheers GF.

Todays IC "good value for the long term"

Todays Shares Mag,p57,"Doing well in a high growth market.One to watch."Lets hope it has the same sort of performance as DFD .Dont see why not.

Spot on its a corker.

cheers GF.

Todays Financial Mail front page headline"BANKRUPTS TOLL TO HIT RECORD AS DEBT SOARS".Good news for ACCUMA holders ,not such good news for some.

Yup and this theme should unffortunatley carry for another 18 months at least.

Cheers Gf.

Too much credit card borrowing,any fool can run up 50k no questions asked.This is only the begining.

Going nicely today , pad.

cheers GF.

IVA's up 95% on the year.Source Evenjng Standard 4/5.

BUY reccomendation Growth Company Investor this week.

Yup good news for us. Not for others.

cheers Gf.

This has been pretty quiet in recent weeks good long term punt happy to sit and wait......

PS Hope you brought some MTT GF its rocketing along at the minute

I'm up 238% on DFD in just under 2 years ,lets hope ACG follows suit.Anyone know anything about the other player, Debtmatters?

Well im still in but yes its been rather quiet on here like everywhere else I guess.

Just know Debtmatters is the biggest player.

cheers GF.

Debtmatters and Debt free direct have soared over the last few days lets hope we follow suit!

Suday Business sharewatch winners,No1DFD,No3DEBT!!!!!

Looks like we're on the move at last

Todays IC page 12 tipped BUY may be reason for todays rise.

Yes moved up nicely again. One of the tips of the year for the IC.

cheers GF.

A cracking day for this one today.

cheers GF.

Moving up nicely this morning.

cheers GF.

Tipped yet again in "SHARES".I'm going for another 10k because I cant see any good reason why it won't follow DFD.Cold and pissing down in Cork so I'm off for a pint of the black stuff.

I like your attitude Pad, NO I didnt mean buying this share but going for a pint of the black stuff LOL, no seriously nice to see this off to a blue start.

cheers GF.

Debtmatters down 22 (12%) this morning nearly 20% over last two days any one know why such a fall - will ACG go the same way???

Thanks

AG

ACG as also been caught up in the sell off this morning. Not sure what the beta is for debtmatters but you will find the higher the beta the more the SP will drop.

cheers GF.

Tanks GF - Sorry to be naive but what's the beta???....thanks....AG

Of this paticular share AM? or in general?.

cheers GF.

GENERAL PLEASE GF - THANKS

Here you are AM....

http://help.yahoo.com/help/uk/fin/treport/treport-03.html

Details of individual stock betas can be found on digitallook.com a free site. Just register, takes about a minute.

cheers GF.

Starting to fly again AM, NICE.

cheers GF.

Moved even higher on good volume. Beginning to think someone as tipped these.

cheers GF.

Cracking news out this morning. Bullish trading update and Istitutions wanting the shares.

Accuma Group PLC
25 January 2006


Press Release 25 January 2006


Accuma Group plc

PLACING/TRADING UPDATE/EGM NOTICE

Accuma Group Plc ('Accuma', the 'Company' or the 'Group'), a leading provider of
personal debt advice specialising in Individual Voluntary Arrangements ('IVAs'),
announces that it has conditionally raised 5 million for the Group (before
expenses) ('Placing') and conditionally arranged a vendor placing of 3.5 million
existing ordinary shares by certain of the directors ('Vendor Placing') to
satisfy demand from institutional investors and increase the free float.

All of the 2.5 million new ordinary shares and 3.5 million existing ordinary
shares have been placed at a price of 2.00 per share. The new ordinary shares
are expected to be admitted to trading on AiM on 20 February 2006.

The net proceeds of the Placing receivable by the Group are expected to be
approximately 4.75 million which will be used to provide working capital and
enable the Group to:

accelerate the increases in the number of IVA's the Group is handling;

explore new marketing and sales channels to broaden the Group's routes to
market; and

make further investment in infrastructure and continue to refine its
internal systems in order to PDF1maximise efficiency.

In addition the Company has conditionally placed 3.5 million existing ordinary
shares at a price of 2.00 per share. Charles Howson (Chief Executive), Robert
Benjamin (Marketing Director) and Nicola Roberts (Executive Director), the '
Vendors' are selling, respectively, 2,865,000, 575,000 and 60,000 shares to
satisfy demand from institutional investors and to increase the free float, and
hence liquidity, of the shares. The Vendors will, following the Vendor Placing,
retain an interest in an aggregate of 8,372,938 ordinary shares in the Group
representing 33.46 per cent. of the Company's then issued share Capital

The Placing and the Vendor Placing are conditional on each other and require
shareholder approval. Holders of Ordinary Shares will be asked to approve the
Placing at an Extraordinary General Meeting to be held on 17 February 2006 at
12.00hrs at the offices of Memery Crystal, 44 Southampton Buildings, London WC2A
1AP.

In addition the Group today releases a trading update ahead of its interim
results which are expected to be announced on 30 March 2006.

Trading Highlights

Threefold growth in the number of IVA cases handled year on year

Group now trading profitably and future contracted revenue more than doubled
to 11.1m.

Full year results expected to comfortably meet market expectations

Wilson Phillips acquisition performing ahead of expectations and on target
to be fully integrated within the first half of 2006

IVA capacity more than doubled as a result of the new head office facility
and the appointment of additional Insolvency Practitioners ('IPs') and
support staff.


Charles Howson, Accuma's Chief Executive commented:

'The Placing will provide the Group with the ability to fully capitalise on our
achievements to date and I have been encouraged by the strong institutional
demand from both existing and new institutional investors. The new head office
and the appointment of further IPs will provide the springboard to take the
Group to the next stage of its development.

2005 was both a busy and successful year for Accuma as we have positioned
ourselves in the top tier of personal insolvency specialists. The Group operates
in a market that continues to experience significant growth and we are delighted
that we have continued to outpace the market and increase our market share.

Recent enquiry levels have exceeded our previous expectations and our investment
in infrastructure and operational resources over the past few months means that
we are well positioned to deal with this increased demand.

The Board remain confident of comfortably meeting market expectations for the
full year.'

Wilson Phillips

Accuma acquired Wilson Phillips Limited ('Wilson Phillips') at the end of August
2005 and the Group is pleased to announce that its integration into the Group is
proceeding very well. Wilson Phillips is benefiting considerably from being part
of the Accuma Group and will be relocated to larger modern premises at the end
of February 2006. This will enable us to recruit additional staff and increase
our capacity.

Capacity increased

The Group now employs six licensed IPs, four having been appointed since
flotation. In addition two further IPs will start working for the Group within
the first quarter of 2006. The Group now has the capacity to deal with 350 IVA
cases a month and following the appointment of the two further IPs the Group's
IPs will be able to deal with over 500 IVA cases a month. This together with
further operational appointments made in the period will not only allow the
Group to meet market expectations for 2006 but will allow our growth to be
accelerated going forwards. The total number of employees now stands at 129.

On 25 November 2005 the Group moved its head office to City Tower, Piccadilly
Plaza, Manchester. The new head office facility is over 18,000 square feet and
the Group now has sufficient office space for over 300 employees without it
incurring a material increase in office costs.

New IVA case numbers

Accuma's run rate has increased significantly over the past year as shown below:

New IVAs Monthly Case Run Rate
2004 2005
3 months to March 20 37
3 months to June 31 84
3 months to September 50 126
3 months to December 47 186

The above figures show a threefold increase in our case run rate year on year
and a fourfold increase in the last quarter.

The Group is now profitable and has increased its future contracted revenue from
5.4m at the end of July 2005 to 11.1m at the end of December 2005. This
revenue will have a significant positive effect on the profitability of the
Group as supervisory fees have an average 80% gross profit margin.

Market continues strong growth

The IVA market continues to grow at a significant pace with 2005 year on year
growth expected to show a near doubling of the 10,752 IVAs registered in 2004.
With nearly 2,500 IVAs registered in November 2005 alone, it is predicted that
2006 will see this growth continue.

Consumer debt now stands at 1.14 trillion. 192 billion of which is unsecured
with 56 billion outstanding on credit cards. Unsecured debt is forecast to
increase to over 200 billion in 2006 with a further 5-7% annual growth over the
next five years.

Recent commentary would support the forecast growth in consumer credit and the
IVA market. A You Gov poll in July 2005 reported that nearly 80% of an average
family's take home pay is required to meet living expenses.

The Bank of England's Financial Stability Review (June 05) indicated that
household debt averages 150% of annual net income (up from 100% in 1998) and
that it is likely that debt will continue to increase more rapidly than income
over the next few years.


For further information:
Accuma Group plc
Charles Howson, Chief Executive Tel: +44 (0) 0161 235 6408

charles.howson@accumagroup.com

www.accumagroup.com



Daniel Stewart & Company Plc
Tom Jenkins / Lindsay Mair / Marc Young Tel: +44 (0) 20 7776 6550

tom.jenkins@danielstewart.co.uk


cheers GF.

A corker of a day here.

cheers GF.

Yup ,looks like were on the heels of DFD.

And a lot more to come Pad.

cheers GF.

Bombing along again.

cheers GF.

Great write up in the MAIL today in finance section - quote 'these shares have further to go' - looks good for more on Monday guys and galls - while you are at it sniff the aroma of COH - coffee retail is another emerging market place - especially in the old eastern block countries - a well set up company about to take off big imho - dyor - AG

And here is that tip update from this morning's Mail...

Accuma Scales Heights Of Our Debt Mountain

Daily Mail Investment Extra by Brian O'Connor - Sat 28/01/06

When Charles Howson bought into debt advice firm Accuma in August 2003, it had just four staff. Now it has 129 and its swish new offices in Manchester's City Tower have room for 300.

The debt business is booming and Accuma is racing to keep up with demand. It helps borrowers into an Individual Voluntary Arrangement (IVA) - a five year debt work-out which, if it works properly, should enable them to keep their job and home and to start afresh.

Typically, someone owing 45,000 might pay back 400 a month over five years, a total of 24,000, with creditors agreeing to write off the rest.

Sadly, more and more people are getting into difficulty. Helplines were swamped after Christmas. The total IVAs registered last year may be double the 2004 figure of 10,752 - November alone saw 2,500.

UK consumers' debt tops 1,100bn, of which 56bn is costly credit card debt.

The shares, 90p when tipped here in May, have raced to 227p. City funds snapped up this week's placing at 200p, raising 4.75m for Accuma and 5.7m for Howson, who cut his stake to 28.5%. He says he sold because funds were clamouring for stock.

It is easy to see why. Accuma's broker Daniel Stewart expects pre-tax profits to soar from 2m in 2006 to 5.5m in 2007, doubling earnings from 7.7p to 15.4p. If it delivers, the shares drop from a steep 29 times 2006 earnings to 14.8 times for the following year.

Rival Debt Free Direct, tipped in September at 195p, is now 309p and on an even higher rating. Sceptics say taking IVA fees up front makes profits vulnerable in a slowdown.

In a typical IVA, Accuma takes a 2,800 set up fee from the lenders (nothing from the borrower), plus a management fee of 1,000 a year, spread over five years.

It books the 2,800 as profit once the IVA is agreed, though it may not collect the cash for nine months. Howson says it must account this way because of tax rules. If new business grinds to a halt, then like any growth stock, the shares could be hit.

So if you think UK consumers' debt problems are likely to disappear, stay away. Sadly that does not seem in the least likely. The shares have further to go.

Got in before me CB.

Excelent read.

cheers GF.

Bombing along, surely thats a new high?.

cheers GF.

Fantastic day.

cheers GF.

Tipped again in IC last week

Anyone have the IC article?

cheers GF.

".....There's scope for furthur gains though .At 221p,still a buy."Rgds Mad Pad.

Also tipped elsewhere along the lines of"if you think debt in this country is going to fall don't buy this share".Says it all really.Onwards and upwards Mad Pad.

Volatile little devil isnt it.

cheers GF.

Back in the blue.... Nice.

Cheers GF.

One thats up today. Must be a new high.

cheers GF.

Back to winning ways today.... NICE.

cheers GF.

Scorching ahead today.

cheers GF.

Finished the day well.

cheers GF.

On a surge again this morning. took a few profits earlier but Im still in for the long run.

cheers GF.

Just picked up a few Debtmatters to balance my portfolio.Who says debt doesn't pay?Check out Invocas group (debt advice co)floating in the next few months.Charles Stanley is the advisor and broker.

Cheers MP will do.

GF.

Roaring away again.

cheers Gf.

You should see debt.l!

Yep but we are still relatively cheaper.

cheers GF.

Good article in FT today re DFD and its fantastic run,basically says accuma and debtmatters are better value.

Good news then.

cheers GF.

This ones flying to new highs.

cheers GF.

Debtmatters up 16% today,great for the pension.

Never mind them, we are cheaper and still flying MP.

cheers GF.

Steaming ahead again.

cheers Gf.

Accuma Group PLC
07 March 2006


Press Release 7 March 2006



Accuma Group plc

Interim Results - Tuesday 28 March 2006

Accuma Group plc ('Accuma' or the 'Group'), a leading provider of personal debt
advice specialising in Individual Voluntary Arrangements (IVAs), advises that it
will be announcing its maiden Interim Results for the six months ended 31
January 2006 on Tuesday 28 March 2006.

An analyst briefing given by Charles Howson (Chief Executive) and Samantha Poole
(Finance Director), will be held at 09.30 am on Tuesday 28 March 2006 at
Abchurch Communications Ltd, 5th Floor, 100 Cannon Street, London, EC4N 6EU.

- Ends -

For further information:
Accuma Group plc
Charles Howson, Chief Executive Tel: +44 (0) 0161 235 6460

charles.howson@accumagroup.com


cheers GF.

Back in play moving up nicely today.

cheers GF.

I think the results will be strog, i estimate a 80%-90% increase in Profit, watch this space

Well I hope you are right Zalima, that should be above forecasts... NICE.

cheers GF.

Ticking up.

cheers GF.

not enough spare cash to get back into this one-I sold far too soon again but did make a small profit! story of my life if I'd had more patience I'd have pulled in much more in profits. I have been picking up CLEA at 3.50p results soon and if they're good the sp should go up nicely.. have you looked at this one GF??

Not yet MP but I will.

Cheers GF.

Back to form over the last couple of days.

cheers GF.

Positive write up in IC again today.Did you go for Invocas yet GF.

No not yet MP as Ive been buying stock on the Ofex market, theres bargains galore on there at the moment.

Nice to see Accuma moving up again.

cheers Gf.

GF,hope you had GOO.What's up on Offex?

Looks like a new high to me.

News on ever increasing banckrupts in this weekends presss should continue to push these ahead although they are looking rather toppy at the moment.

What The Brokers Say
Strong Buy 1
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 2

Moving up nicely again. Shouldnt be long before we reach highs for the year again.

Back to form.

Looks promising....

Accuma buys Thomas Charles for up to 12.5 mln stg; sees earnings enhancement
AFX


LONDON (AFX) - Personal finance advisors Accuma Group PLC said it has bought London-based consumer debt advice company Thomas Charles & Co Ltd for an initial payment of 1.5 mln cash and 0.5 mln in shares and up to a further 10.5 mln in cash and shares depending on the company's performance over the next three years.

The company expects the acquisition to be immediately earnings enhancing, it said in a statement.

Charles Howson, chief executive of Accuma, said: 'This acquisition complements our core offering, will be immediately earnings enhancing and will of course increase our monthly run rate and market share. The experience of the founders will further strengthen our management team as the group continues to grow.'

He added: 'Not only will this enhance our best advice offering to clients, moreover it will have a significant impact on efficiencies, client acquisition costs and therefore earnings growth.'



newsdesk@afxnews.com

Moving back to 300p..... NICE.

Not in this but i have found this GF - very good prospects any views????


Cleardebt Group (CLEA)


Will try post more later, bit busy with work the now.

Regards

Critch - see CLEA thread - interesting but IMHO not as reliable in its choice of market sector and stage of growth as DFD, DEBT and ACCUMA. I'm in DEBT, having made good money in DFD (although sold far too early - still, a profit's a profit) which just today has gone back above my purchase price and looks set for a good further year's multi10% growth with no debt.

sd

I have no views on CLEA but SD knows his stuff.

Thanks stockdog, DEBT looks the best prospect for growth? from simply looking at market capital and prospects, as i have as yet to research all this and do my sums;)!!!


Tooo many choices here !!!!!!!!!!!!!!!!!!!!!!!!

This ones starting to come back to life......... NICE.

07/33am accuma says half year H1 profits up fourfold. 1.17 min stg upfrom 304'000.

I've just dipped my toe. I hope that I'm calling the bottom but you never know!

Accuma warns on FY profits UPDATE
AFX


(Adds analyst reaction)

LONDON (Thomson Financial) - Debt management company Accuma Group PLC warned that its full-year profits will fall short of analysts' forecasts, blaming 'difficult' conditions in the market for Individual Voluntary Agreements.

'Profits for the current financial year to July 31 2007 will be materially below market expectations,' the company said in a statement.

Accuma specialises in arranging IVAs, a less onerous form of personal bankruptcy under which lenders agree to write off part of the outstanding debt. The company has been hit by a downturn in business volumes as lending banks, which blame rising IVA numbers for a jump in bad debts, increasingly withdraw their cooperation.

Accuma, which last month predicted an upturn in IVA numbers later this year, today said it no longer expected an imminent recovery.

'With approval rates remaining low as a result of creditor pressure, we do not expect our run rate to recover in the way we had anticipated,' the company said.

Analysts at Teather & Greenwood suspended their ratings and forecasts on the group.

'Another profit warning from Accuma just three weeks after its interim results is deeply unwelcome,' they wrote in a note to clients.

The group also blamed 'disappointing' results from a revamped marketing strategy, and said its marketing director had left just six months after being appointed in November.

Accuma arranged an average of 199 IVAs per month in the third quarter, down from 221 in the three months to Jan 31.

The number of IVAs in England and Wales in the first quarter of 2007 rose 4.7 pct compared with the previous three months, and by 47.6 pct on the same period last year, according to official statistics published today.

Accuma shares closed 42 pct lower at 40 pence.

I've never timed an entry into a share so poorly.......!

double posted sorry.

Take care on this one, there are a lot of burnt fingers out there trying to boost the situation into looking good and it ain't!

There were enough warnings along the line please bear this one in mind.

By the way the number of AIM listed companies going through the hoop is on the increase!

Queen1 - ouch!

Sorry to see you getting caught there queen1.

You have my sympathy too, queen1

Many thanks all.

The timing was so poor that I actually found myself laughing. Seriously. I figure that it's a lesson in that no matter how smart you think you are, how much research you do or how right you think your judgement is, the market can, and will, trip you up. Obviously the SP plummeted through the stop loss I had in my mind so I'm going to sit tight and see what happens over the next few months. It could come good. Stranger things have happened.

it may be an emotionally tough decision, but why sit and hope for miracles? ..... that is what, as a good example, the holders of SEO have done for ages ..... cut your losses, have a little cry in the corner, and start rebuilding elsewhere .... i know if i had not taken the knife to some badly performing stocks (CHP and PCI to name just two) i would not have had funds available for a fortuitous entry into RTR, and indeed some other profitable investments over the past year or so.

Thanks for your 2p worth cynic and for the ground-breaking advice. However, I shall follow my own course. My decision to hold may prove to be wrong and I may lose more than my current paper loss. I accept that and understand it. But the reasons I bought the share in the first place haven't altered because of a profits warning just two days later. So for now I hold.

With respect Queenie, surely your decision to buy was based on facts that now longer exist?

That said I can understand your desire to hold. Good luck.

your call, your money, your loss ..... you may not like the advice or more to the point, you might find it difficult to bite the bullet (clearly so) and to admit that the choice of investment was WRONG, or certainly so in the light of unfolding events ... you even admit that your stop loss was (easily?) passed through, so where's your hard-nosed logic?

Q 1, I agree with you, the Company and sector are doing just fine, (spoilt by silly announcements), I too will now have to wait.

Thanks york, all the best to you.

Davie - The "facts" that I based my purchase on did not fly out of the window within 48 hours because of this announcement. Admittedly I'd rather things were looking better in the short term and again I'll point out the fact that I could lose all (although I don't feel this is particularly likely) but for the medium to longer term (and I'm that kind of player) I still believe the company has prospects. Thanks for your good luck statement.

cynic - My call, my money, my (paper) loss. Exactly. Mine. Not yours. Once again you're following me around the BB like a spectre, dishing out your own particular brand of wisdom and advice. Who exactly are you to tell me that my choice of investment was, and I quote in capital letters as you seem to like those, "WRONG"? Now, my timing could have been better (by 48 hours) which is why I made my post 2 days ago but then I don't possess a crystal ball. My stop loss was passed through as the SP fell by 40% in half an hour and I happen to work so cannot be at my computer 24/7. And my "hard-nosed logic"? Well I'm not quite sure what you're getting at there but I don't think it is particularly logical to sell a share 48 hours after buying it for many valid reasons because of a profits warning but I guess we're all different.

Sorry to read about your loss queen 1, I brought into dets a few weeks back, so could have been or maybe could be in same position as you. I believe the sector will recover in time with some company's doing better than others, I had Accuma on watchlist for a while but they seemed accident prone and DFD seemed over valued. Debtmatters and Debts.co.uk seemed stronger, so I plumped for Debt.co.uk.

I will stick with DETS, but must admit if my stop/loss was breached for what ever reason I would bail out. That's one rule I would never break, however hard it hurts. I have had to activate my stop loss with two company's recently, one as Cynic knows was GTL and other was Delling, but no regrets.

Good Luck whatever you do........

1) old market truism is that bad news and profit warnings come in threes ....... 2) a paper loss = a real loss; its smell is can be hidden in the "bin" where its owner can fool himself that out of sight = out of mind.

Thanks spitfire43. Always interesting to hear what others who are invested in the sector are thinking and doing. I was lucky enough to quadruple a stake in DFD a couple of years back and agree that it now seems over valued. But the British public are not about to stop spending and I (still) think that the prospects in the longer term for ACG and the others are good.

"...its smell is can be hidden " - I'm guessing English isn't your forte cynic. And if I was hoping for "out of sight, out of mind" do you really think I would have posted on this thread? Following your logic I would have secretly held but told the World that I had got out with a small loss. However, what I wanted to do was to chat with other holders rather than an ambulance chaser.

ambulance chase????? ...... for myself, i hope i would have had the discipline to have followed my own advice and cut my losses ...... keep nursing them, and if you are unlucky you could end up in the same boat as the masochist long-term, holders of SEO and similar.

WOULD BE REALLY NICE IF WE COULD KEEP THIS A CORDIAL BB AFTER ALL WE ARE HERE FOR THE SAME THING---THE MAKING OF MONEY AND THROWING INSULTS NEVER MADE ANY REALLY PROGRESS, EXCEPT PERHAPS TO THE GUTTER.

HAVE FUN ALL AND LOOSEN UP-

a deserved slapped wrist, albeit that my aim is not to insult but merely to impart some sense and logic ..... and above all, to keep reminding myself to act as i write!

let me have some of your sense and logic on MLR please as this one has me totally baffled--all the signs are goo yet the price falls today. I dont think its falling back to the new issue price, or because of it, as thats too simple an explanation.

By my calculations, based on fundamentals this share should be 1t 18/20p today.

I am a shareholder.

All replies welcomes SAE available if required.

Up 45% so far today, albeit from a low starting point. So what's afoot?

Today providers of IVA's have agreed to cut fees across the industry by 20%. Lenders will now more able to agree IVA packages rather than stall all the providers.

Hi johnstonp,
Can you tell me where you have this inormation from ?
Cheers

hi giggin. sorry for the delay. had to take the wife shopping.
Can be found in the Independent business page 41. "leading providers of IVAs agree to 20% cut in fees"

Pete

hi johnstonp.
thanks for the info
Cheers

Set against the rest of the market, today was indeed a stellar day for Accuma. Let's hope profit takers don't ruin it and that we see a steady rise back towards 1 over the coming months.

about 8% of the shares changed hands today and the market cap is only 9and a half mil. Results not due til Oct. Cash flow is gd with about 6mil in the kitty. If todays new fee reductions produces volumes of business then the profits should be in the region of 2andhalf mil.
Loads of shares held by the board. I hold at a higher price than today and in for the long run. Looking forward to your 1

In what must be an example of one of the worst timed trades in history I bought the day before the shares crashed earlier this year. So I too am hoping for at least 1.

I think Carter and Carter takes some beating.

Keep holding and i'm sure all will be fine queen

You have a point there scottinvestor. Hold I will though :-)

Accuma Group sais it has received a number of approaches for the company and discussions are at an early stage, adding that this may or may not lead to an offer.

The company made the statement following its recent share price movement.

what price if taken over u think?

33-36p but that's purely speculative.