In line with my thoughts of recent, stay well away from momentum stocks at the moment. Go into boring but stocks that can be seen to generate an increase in earnings. Ive been with this a few weeks and think a few may have picked up on that. Now breaking out and looking for further earnings enhancing Acquisitions.

Its a top notch architect company and not over exposed to the housing market. Has top management and is derd cheap on fundies, more to come on that . Any views appreciated, good or bad but I feel we could be onto a winner here.

Just look at this report from a tip sheet, all things checked out and OK........

Lifted this from another board..........

SMC stacks up - STRONG BUY
Companies: SMC
27/09/2005

Architecture and design group SMC, which works on major office, retail and residential projects in the UK, Eire and Europe, joined AIM via a 4.6 million placing in June with ambitions to consolidate this fragmented industry. Founder and chief executive Stewart McColl hopes that by creating a larger outfit, his company will be able to win bigger projects producing higher margins.

McColl founded SMC in 1996 and has delivered appetising organic growth in recent years by offering national coverage. This has allowed the group access to substantial and more profitable construction projects across a range of sectors and locations. Clients now include British Land, Canary Wharf Group, Morgan Stanley and Wm Morrison, amongst others.

We have already got the 100 million projects, explains McColl, but there is another step-change in scale to come that will allow us access to projects worth 200 million, 300 million, 400 million and even 500 million. Increased scale pays off because larger projects are higher margin, with higher fee levels and longer timescales, helping SMC plan staff requirements more accurately.

Last November, ahead of the AIM float, SMC appointed ex-Wembley stalwart Sir Rodney Walker, who has brought recent AIM success stories like Goals Soccer Centres and Spice Holdings to market, as non-executive chairman. His presence and contacts have boosted the groups cachet and, following the AIM listing, McColl is also keen to boost scale through acquisitions.

Shortly after the float, SMC completed the two acquisitions mooted in the prospectus Corstorphine & Wright Hills Erwin, a Manchester
and Lancaster-based commercial architecture specialist, and Philip Lees & Associates, an outfit based in Leeds city centre, with a bumper proportion of revenues wrought from repeat business.

We are one of the few consolidators that I know of in this market, adds McColl, and now that we are on AIM, we are after acquisitions that are far more significant in size.

SMC recently cheered followers with an update on new deals. Among a plethora of 100 million-plus projects was work on new headquarters for Deeley Properties in Coventry, Sports Centres for Warwick County Council as well as developments for Pillar Properties and Canary Wharf.

Overseas work included manufacturing and office units in Slovenia, as well as a 290-bed InterContinental Hotel in Pakistan. There was also news of planning consent for a 50 million British Land office campus at Coventry.

2004 was exceedingly strong for SMC, with turnover lifted by 43 per cent to 8.1 million and pre-tax profits sparking up from 100,000 to 1.1 million. Gross margins were a healthy 50 per cent.

More recently, SMC unveiled extremely strong maiden interims to June, sending the shares sharply higher to 70.5p. These revealed a 255 per cent profits jump to 1.1 million on a 47 per cent leap in sales to 5.4 million. McColl was particularly pleased with the 260 per cent vault in earnings per share and a 140 per cent surge at the EBITDA level to 1.45 million, especially since we only had 20 days worth of revenues from the two acquisitions completed at float in the numbers.

He says subsidiaries are already enjoying larger scale project wins as part of the larger AIM group. 'We are looking at a few businesses that we might acquire, and as the business grows bigger, we'll be more equipped to handle PPP and PFI projects'.

Analysts envisage further profits improvement this year to 2.9 million, with sales climbing to 12.8 million. On those numbers, earnings of 7.1p leave the stock trading on an undemanding multiple of 9.9. We believe SMC offers high earnings visibility as well as tasty levels of repeat business, and we are strong buyers.ENDS.

Worth doing your own research if you are interested.


DYOR

cheers GF.

TA looks strong.

Derd cheap on fundies and will be even cheaper on new forecasts after the increased earnings acqusitions.

cheers Gf.

goldfinger SMC is a great stock i missed the bottom but went from 50 to 70 before tp
the same mag that wrote the article above also recommended PROV at over 12p

my concern with SMC is now the price to forward earnings is now high and the new deal is cash and shares as purchase but they are planning a dividend in 2006 so there is more to come i think.

a stock for the wise heads

Hi Jess,

not sure I can agree with you on the forward P/E. Forecast to make EPS of 8.3p 2006 therefore a quick calculation shows at 80p the shares would only be trading on a P/E of 10 and with the recent acquisition and others on the cards Im sure this figure will go much lower. I agree that dilution takes place on issueing of new shares so everyone as a smaller piece of the whole cake, but my interest is in capital appreciation rather than income from the stock.

Nice to see you in this one. Which tip sheet was it? as I lifted it from another site.

cheers GF.

Beleive me this ones going to go like the clappers. I see tip sheets upgrading etc.

cheers GF.

From interims 30/6/2005...................

A balanced approach to growth

Our stated policy of 'a balanced approach to growth' has continued. We have
secured significant projects across seven market sectors and in a variety of
construction value ranges. The focus is on the larger values where we generate
higher margins. Operating companies acknowledge that they have secured larger
scale projects as a result of being part of the Group.

SMC Gower Architects (Leeds, acquired 2001) and SMC Corstorphine & Wright
(Warwick, acquired 2002) have both experienced organic growth and returned good
margins. Turnover has grown by 147% and 29% respectively compared to the same
period last year.

The two acquisitions completed on flotation, Corstorphine & Wright Hills Erwin
(Manchester and Lancaster) and Philip Lees & Associates (Leeds), are trading
above expectations, although only 20 days of their figures are accounted for in
this report. Philip Lees & Associates has been integrated into SMC Gower
Architects, sharing office space and resources, with Philip Lees appointed as a
Director of that business. The new acquisitions are forecasting healthy
performances for the full year. We have initiated discussions with further
potential earnings enhancing acquisitions that could also bring sector and
geographic advantages to the Group.

The second half of the year has started well and, as we announced on the 15th
August 2005, we have already secured a number of new contracts, both at home and
abroad, with a total construction value of 100m and total fee income of 1m.

These projects include:

A new headquarters building, Coventry
Mixed-use development, retail, and residential in conservation area - The
Royal, Windermere
Sports Centres, Warwickshire
Confidential office/mixed-use/retail developments for Pillar Properties,
St James's Securities and Canary Wharf Ltd
Mixed-use development including 35 storey Iconic building, Minsk, Belarus
290 bed Hotel, Islamabad, Pakistan

The performance of our business relates directly to the performance of our
people. The dedication of my colleagues to servicing our clients' requirements
has been exceptional, resulting in a high level of repeat commissions and some
award-winning projects. I would like to take this opportunity to express my
appreciation for their considerable efforts and the pleasure I take in observing
and encouraging their creativity and imagination.

Stewart McColl
Chief Executive

cheers Gf.

Nice little nudge up this morning.

Cheers GF.

GF you were asking jess2005 where the tip came from, it was GCI (Growth Company Investor) . They also tipped LEAD and I am holding LEAD and SMC, both of these stocks are due upwards movement after they both had pauses for breath. SMC is moving faster at the moment due to it being picked up on a few radars. They also said keep an eye on ACHL at listing and from results it looks good and I would expect a GCI update on them soon so have added an ACHL thread in today and done a final top up for the moment.

Back to SMC the pr PER is still not high yet, so there is more to come. IC had a recent article on SMC saying do not take profits yet even if tempted, hold on for even larger profits ! So the thoughts of GCI and IC are that this is going up even more.

PP, many thanks for that, much appreciated.

cheers GF.

goldfinger yes it was the GCI said by PapalPower. what do you think if CDN ? its been tipped by IC this morning and could be a good one for this month with news coming ?

Hi Jess,

not sure I can agree with you on the forward P/E. Forecast to make EPS of 8.3p 2006 therefore a quick calculation shows at 80p the shares would only be trading on a P/E of 10 and with the recent acquisition and others on the cards Im sure this figure will go much lower. I agree that dilution takes place on issueing of new shares so everyone as a smaller piece of the whole cake, but my interest is in capital appreciation rather than income from the stock.

Nice to see you in this one. Which tip sheet was it? as I lifted it from another site.

cheers GF.

Cheers Jess.

GF.

Flicking through IC this morning, SMC recent acquisition was commented on.
They still think SMC good value.

Trading at such a discount to the sector I could have come to that conclusion all by myself.

all the best

capa

Nice to see you again capa.

SCSW give it a buy again today and also point out that Edison have upgraded next years forecasts to 10p too. Says the recent acquisition of DTR is a significant acquisition bringing in 58 fee earners, almost a thrird of the enlarged business - what a cracking buy.

The upgrades seem to be based on the earnings enhancement this will bring.

Add in the growth in the rest of the business being ahead you have to think there's lots of scope for further upgrades and 'ahead statements' imo.

Also says Hardman have initiated coverage with a target of 117p :-) Conservative I'd say :-)ENDS,

So would I, feel 150p to 160p is attainable in the next 18 months which would be circa P/E of 15 to 16 not overly demanding and another Scotish acquisition is on the cards for January.

cheers GF.

having look at this one for last 6 months, finally gathered enough cash, but not sure if I should but MMG to balance my huge loss, any opinion? :-)

cheers
swseun

Write up today on the link below;

http://scotlandonsunday.scotsman.com/business.cfm?id=2200432005

Opened.

SMC has designs on architects

IAIN DEY
CITY EDITOR


ONE of Britain's biggest firms of architects has revealed plans for a 2m Scottish acquisition spree - and launched a scathing attack on the Holyrood parliament building.

Stewart McColl, chief executive of AIM-listed SMC, has drawn up a shortlist of 20 Scottish firms that he plans to approach over the next few weeks with a view to a possible takeover.


The move comes as the latest phase of a plot to give the group a foothold in every area of the UK, and follows its 1.2m acquisition two weeks ago of Manchester-based DTR.

But despite his enthusiasm for the Scottish market, Glaswegian McColl branded the Scottish parliament building "absolute crap" and lashed out at the decision to award it the Stirling Prize, the most prestigious in architecture.

McColl said: "We're currently about the third biggest firm of architects in the UK, measured by profitability. What we are looking to achieve is a full geographical coverage of the UK. We only have one live project in Scotland at the moment, which is a distribution warehouse in Cambuslang. But the Scottish market is huge and we want a bigger part of that."

SMC listed on AIM in June and has a market cap of around 30m. Its major shareholders include Henderson, F&C and Brewin Dolphin. McColl hopes to lead a consolidation of architects firms across the country. He said that while there are 28,000 architects working in the UK, 85% work for a firm with fewer than ten employees.

The firms on McColl's Scottish hit list all have turnover in excess of 5m, and a net profit margin of about 10%. He said the Scottish market has been supported by strong government spending on PPP schools and hospitals projects - where the firm is under-represented.

Nonetheless, McColl had no kind words to say about Scotland's most-costly public project to date. He criticised the decision to award the Stirling Prize to the Holyrood parliament building.

"It's a building that damages our reputation as a profession. A lot of architects seem to think we should value the artistic merits of a building rather than its function or value for money. That is nonsense.

"It reflects badly on our profession that a building that was over-budget, delivered late and failed to properly meet the needs for which it was intended can be awarded the Stirling Prize, our most prestigious award."

McColl also said that the death of architect Enric Miralles during the construction of the building could not be blamed for the end result as "the big mistakes were made before he died". He made particular reference to the bamboo canes on the MSPs' office windows.

Thanks for the above PapalPower and Goldfinger.

They certainly care about their profession, this came out vividly in the last results, which was when I first bought in, the statement made with the results oozed enthusiasm which was infectious.

capa

Lets hope we get out of the blocks which as hardly started.

cheers GF.

You found one early again GF as you do.
You started the thread 1/11
I have been watching this one since the13 sept 63p
now 85p up 35% moved against the market trend as Aim has been
hit hard, not in it but now interested. As quoted elsewhere
i now favour stock which trades at NMS over 2500 per trade
this one has just moved into this range so day traders and shorters
will only move the sp if out in force.
Another thread with a lot of mileage left.
All the best
HUSTLER

Cheers Hustler.

GF.

Can't see day traders coming into this stock Hustler, the spread is such that you would need the price to move 10% to stand still.

capa

Bubbling nicely today

Nice rise this morning. Plenty more to come.

cheers Gf.

Excelent day and still derd cheap.

cheers GF.

Treeshake going on?. Strange Price action on trades so far.

cheers GF.

Back to the positive side.

cheers Gf.

Added some more of these yesterday. Wont be long before we see more tip sheets recommending them.

cheers GF.

A nice move up through 90p today. A quid here we come.

cheers GF.

The beautiful thing being that at a quid they are still remarkably cheap.

Looking to pay a dividend too.

all the best

capa

Sure are Capa, and they are really moving on this afternoon. I think we will have 160p within 18 months and that is probably very conservative.

cheers GF.

Looking for more this week.

cheers GF.

Speculation on other boards that a Scottish acquisition is very close.

cheers GF.

Buyers coming back in after a poor start. Could end up blue on the day.

cheers GF.

Nice to see this one rising again.

cheers GF.

Nice bounce from yesterdays intra day low. Suggests that there is not much stock about imo.

Looking good

capa

A quid could be on the cards very soon.

cheers GF.

All buys this morning. We could be on for a good afternoon, fingers crossed.

cheers GF.

Speculation on other sites that a Scottish acquisition is on the cards. Slight move up this morning.

cheers GF.

Director buy !!

Looking good

capa

More good news

SMC Group Plc
05 December 2005





SMC Group Plc
('SMC' or 'the Company')

New Contract Wins

SMC Group Plc, the architects and design business, is pleased to issue details
today of the construction value and new fees contracted since mid-August. The
following projects have a total construction cost of over 500m and represent
stage fees for SMC in excess of 5m.

120m Mixed Use Development, Salford, Manchester


300 acre Mixed Use Development including 300K sq.ft. speculative
Distribution Warehouse, Humberside


30m Sports Facility Complex including Hotel, Student Accommodation &
Residential Apartments and 75K sq.ft. Offices


40m Iconic Structure, Piccadilly, Manchester


30m Iconic Structure, Liverpool


Mixed-Use Retail and Residential projects, Scarborough


Hotel and Leisure complex, Blackpool


30m (circa) Council Offices, Huntingdon


20m (circa) Office Development, Birmingham


6m (circa) Employment driven development scheme, Bootle, Merseyside


3m+ Health Centre projects Harrogate and Cleethorpes


3m+ Factory and offices, Ilkley

The business is also making considerable inroads into the BSF programme
(Building Schools for the Future) through being invited to tender with major
institutions and contractors, more information on which will be available at the
appropriate time.

The BSF news at the end is very encouraging.

Added this a.m

capa

Good call GF hope you've done well.

MS

Good call GF hope you've done well.

MS

Yes excelent news today. One of the tip sheets follows this one so watch out for more upside monday next I assume. We may get more in between aswell fingers crossed.

cheers GF. Still on a very cheap rating P/E less than 13. Forward P/E of 10.

Building on yesterdays gains I see.

cheers GF.

Well worth having a read of this link...........http://http://www.growingbusiness.co.uk/YcqLvTxoF2HDRg.html

cheers GF.

A nice move above a quid this afternoon.

cheers GF.

Still with you goldfinger.

Long term hold for me here.

all the best

capa

Up again aswell Capa. Looking for more after the new year when another acquisition is on the cards.

cheers GF.

Update from Hardman 6/12/2005................

It appears that they are being somewhat cautious but express even more confidence in their earlier figures.

-----------------------------------------------------------------------------


Quoted architect SMC Group has announced a 5m boost to its order book, winning over a dozen new contracts over a broad geographical and sector spread. The work is for stage fees on projects with a total likely value of over 500m, and these stage fees are likely almost all to fall into the 2006 financial year.

Key points are:

As these are stage fees, there is a very high probability of their making it to the billable sales level during 2006, even though some of the projects do not at present have planning permission.

If SMC is winning the early stage architectural work it will probably also win the other architectural work through to completion this is a good indicator for the possible workload in 2007 and 2008 and good for
forward earnings visibility.

The broad spread of the project work is encouraging the company is less vulnerable to sudden cancellation or project deferral.

When we prepared our Inaugural Research Note on SMC in November we were even at that stage happy with the likely workload for 2006. This reinforces our opinion. While we are not upgrading our forecasts at this stage, it gives us increased confidence in our numbers.

It should also give increased confidence to the owners of medium sized private architectural businesses considering selling to SMC. When it floated on AIM earlier this year,SMC stated that its plan was to be an industry consolidator.

Cheers GF.

A slight pull back below the 1 level gives an opportunity to those not yet in.

Very cheap at this price.

cheers GF.

Dont be put off by the spread as when buyers move in the share moves up high accordingly.

cheers GF.

Looks ready for a tick up.

cheers GF.

Some excelent news through.

SMC Group Plc

Formation of New Division to Target Education Sector 'SMC Education & Community'


SMC Group Plc ('SMC'), one of the UK's leading groups of architects and designers, has announced the formation of a new division specifically designed to service the Building Schools for the Future (BSF) programme to which the Government has committed a spend of circa #60bn over 10 to 15 years in upgrading and replacing secondary schools throughout England.


The new SMC division, called "SMC Education & Community" (SMCE&C) recognises the importance of consultation processes and local knowledge, in addition to design and innovation skills, in its contribution to the success of the BSF programme. The division will therefore contain leading Communities Liaison Officers and educationalists, working in harmony with SMC's Architects and Designers with their established office networks throughout the country.


SMC Education & Community will be Chaired by Warwick based Robert Gisby (SMC Corstorphine & Wright) who has had a long career in local government and has recently designed many high profile schools, including Stratford Upon Avon High School. Chief Executive will be Manchester based Andrew Rae (SMC DTR:UK) working with Managing Director Steve Wass (Leeds based SMC Gower Architects). Each of these SMC Group companies is already assisting contractor and facilities management led consortia in the bidding process for batches of BSF schools in various cities in England.


SMCE&C CEO, Andrew Rae commented, "This is an initiative on behalf of the SMC Group to proactively assist the contractor and facilities teams with their bidding process as we are only too aware of the importance of community and local issues relating to educational development. Consultations with communities, school governing bodies and pupils have all become essential ingredients in the BSF programme and will drive success for school development in future".


Chairman of the new division, Robert Gisby commented, "One of the fascinating aspects of new schools in the community has been the advent of mixed-use development activity. On several schemes we are already driving the integration of residential and leisure development as part of the overall school sites, for which our own wide ranging market sector skills are ideal".


The new division was formally announced by SMC Group Plc Chief Executive, Stewart McColl, at an annual networking function, PERP, held in the House of Lords on Thursday 15th December 2005. He told an 80-strong audience of contractors, architects and developers that SMC Education & Community was ideally placed to win BSF bids and therefore was actively aligning itself alongside the various bidding consortia rather than simply awaiting approaches from consortia.

cheers GF.

Back over a quid where they belong !!

capa

Spot on Capa, and Im looking for a good one next year.

cheers GF.

Moving up nicely on some good volume.

cheers GF.

Breakout today goldfinger

glad I am here to witness it, 5000 mm buy suggests a lack of stock

lovely jubbly

capa

Yup looks like we could be in for an exciting afternoon.

cheers GF.

I thought yesterdays rise may have been a knock on effect from the trading statement put out by WHY, but volume today suggests otherwise.

The price has now doubled since my initial purchase :-)

capa

And its really pile'ing the Ps on this afternoon. NICE.

cheers GF.

A 50,000 and 47,500 T trades showing today.

More director buying perhaps ?

Looking very strong today

capa

Added a few more of these at 116p this morning. I expect a robust last week in December and also the same in the first week of january.

cheers GF.

I expect you to be right

all the best

capa

Looks to be a sure fire winner for 2006.

cheers GF.

Should be a cracking 2006 for this one. Just watch it go.

cheers GF.

Agreed goldfinger, and a good start to the year today

all the best

capa

Suprised we havent got more in this one. Still derd cheap on forward earnings estimates.

cheers GF.

Im told by a reliable source, news on the acquisition front not far away.

cheers GF.

Not much movement in these over the last few days but its still very cheap and further acquisitions should push the SP upwards.

Heres the house brokers forecasts............

Forecasts
Year Ending
31-Dec-05 Sales 13.34 Pre Tax 2.97 EPS 7.18p P/E 15.5 Growth n/a
31-Dec-06 Sales 20.95 Pre Tax 5.00 EPS10.08p P/E 11.1 Growth+40%

cheers GF.

BUY BUY BUY, before it really takes off. Remember a moving P/E of only just under 11, derd cheap for a company so well run as this one.

cheers GF.

Nice to see this one move up this afternoon.

cheers GF.

Just the two of us witnessing the move North I reckon goldfinger

New high this morning

all the best

capa

Superb Capa. These boring stocks are money makers......... NICE.

cheers GF.

Another high today.

Cheers GF.

New high again this morning and still on a rolling P/E of only just over 11, derd cheap.

cheers GF.

This ones on a charge again.

cheers GF.

Plenty of visible future earnings here. EPS forecasts look very conservative - looks set to double from here over the next year and a half or less. Stock up now and reap the rewards.

If we expect future EPS of say 13 which is very achievable then on a P/E of 15 the SP would be around 195, on 18 - 234. These are sector P/E's but for this rate of growth you could well pay more then that say 20 - 25. Go figure.

Talk of a positive trading statement imminent on other boards.

cheers GF.

Yes hedgehunter - I know. ;-)

Just bought into BNH - set up like SMC but only in the insurance sector. Cheap - increased EPS forecast since this morning to just over 13p and sector P/E is 16.

Noted. WUW. Cheers.

cheers GF.

It states that SMC is the 5th. best performing share on AIM in 2005. Not bad seeing it was only quoted for about 6 months.

-------------------------------------------------------------------------------

Pioneering EPIC wins third accolade as SMC Corstophine & Wright are recognised for their environmentally sound design

Leading architects SMC Corstorphine & Wright have won a prestigious green design award for excellence at the Birmingham Design Initiative (BDI) Industry and Genius Awards 2005 for their ground breaking and environmentally sound 7m Eliot Park Innovation Centre (EPIC) in Nuneaton.

Built to establish the areas first incubator office space for SMEs, EPIC is a three-storey office development funded by Advantage West Midlands (AWM) and Warwickshire County Council with a 2.8m DTI/European Regional Development Fund (ERDF) grant. The money went towards installing a photovoltaic energy system, which generates enough energy to power the equivalent of 10,000 energy efficient light bulbs or 700 PCs a year. Although this is probably the most striking element of the building, there are a number of other environmentally sound design features including photo electric sensors and presence detectors that automatically adjust lighting levels according to occupancy and the natural level of daylight. The overall design and orientation of the building also contributes to EPICs highly efficient handling of energy and waste.

EPIC is managed by Coventry University Enterprises Ltd who also offer business support to tenants.

Robert Gisby, lead architect on EPIC comments: This is the third award EPIC has received and it is fantastic to be nominated along with so many other innovative designs. It was an exciting project to work on and we are proud to have been responsible for one of the areas leading green designs that will hopefully become a benchmark by which other similar designs are measured.

Supported by sponsors including Birmingham City Council and Calthorpe Estates, the awards were held on Thursday 24 November at the IMAX theatre on Birminghams Millennium Point. Kevin McCloud from Channel 4s Grand Designs was on hand to present Robert Gisby with the award. With 130 entries competing in 13 categories from Birmingham and the surrounding area, EPIC fought off stiff competition in the Places and Genius Green Design category. SMC Corstophine & Wrights design for Stratford-upon-Avon High School was also short listed for the architecture category.

The BDI Industry and Genius Awards are held every two to three years to reward the ultimate in design and quality in Birmingham and the West Midlands.

-------------------------------------------------------------------------------

cheers GF.

Talk of imminent upbeat trading statement on other boards.

cheers GF.

Looks like we have punters awaiting the update.

cheers GF.

From another board trading update tomorrow or thursday.

cheers GF.

Should have a trading update in the morning.

cheers GF.

Just ticked up into the blue. No trading statement yet. I wonder if the other board lot have got it wrong.

cheers GF.

No trading statement. ?

cheers GF. Might have been a ramp.

Still on a lowly forward P/E of only just over 11. Results next month could come in beating forecasts.

cheers GF.

Also a trading update to come before results.

cheers GF.

RSI looks fairly oversold. Trading update due february and forward P/E is on a conservative P/E of only 11, far too cheap for this one.

cheers GF.

Looks like a buying opportunity as opened up here. Shares down nearlly 5% on the day, trading update mid Feb I think.

cheers GF.

Since you seem to be all alone on this board Goldfinger I thought I'd join you.

I have spoken to the company and there will be a trading statement mid February. As usual, if it starts to fall small-time holders get panicky. I am very happy holding and looking forward to the trading update.

Good on you Sunners.

'Patience will provide wealth'.

ie, PWPW, a new ratio I have just developed alongside you this evening.

No Joking you want to get a copyright on that?????????????? sunners?.

cheers GF.

Pleasing trading statement this a.m along with 2 more earnings enhancing acquisitions.

Should be good for a run up to results in April

capa

I think forecasts will be beat. Looks very encouraging.............
Sunbury, oppologies re- my ratio above. Think I was under the influence of vino that night.

SMC Group Plc
03 February 2006


SMC Group Plc
('SMC' or 'the Company')

Trading Update and Acquisitions

SMC Group Plc, the architects and design business, today announces an update on
current trading and the acquisition of two architecture and design companies,
Ian Penrose Architects Limited ('Ian Penrose Architects') and Covell Mathews
Cambridge Architects Limited ('Covell Matthews').

Current trading

SMC has made good progress during 2005 and the financial performance of the
Group is expected to be in line with market expectations. All group companies
have increased their secured level of orders for 2006 and have a strong
prospective pipeline of work, expected to generate organic growth.

The outlook for the Group is encouraging and SMC is confident of the prospects
for 2006. The company will announce its preliminary results for the year ended
31st December 2005 on 27th April 2006.

Acquisitions

SMC Group Plc announces that it has agreed to acquire Ian Penrose Architects and
Covell Matthews, both architecture and design companies, based in the South West
and the East of England respectively. SMC expects both acquisitions to be
immediately earnings enhancing.

Ian Penrose Architects

The total consideration has been calculated by reference to a multiple of 3.5
times Ian Penrose Architects' profit before tax for the 12 months ended
31 December 2007.

2.0m is payable immediately (which includes an allowance for 160,000 of cash
left in the business) and will be satisfied by a cash payment of 1.5m and the
issue of 452,849 shares of 0.5 pence each in the Company ('New Ordinary Shares')
at a price of 109.3 pence per share.

Application will today be made for the New Ordinary Shares to be admitted to
AIM. It is expected that dealings in the New Ordinary Shares will commence on
8 February 2006.

The balance of the consideration will be paid in stages in June 2007 and June
2008, and will be calculated according to the future performance of Ian Penrose
Architects for 2006 and 2007. Ultimately, the total consideration will be
satisfied by a mix of cash and shares at approximately 50% cash/50% shares.

For its financial year ended 30 June 2005, Ian Penrose Architects' revenue was
1.5m and its profit before tax was 0.7m.

The acquisition of Ian Penrose Architects will increase SMC's exposure to the
architecture and design market in the South West of England.

Ian Penrose Architects' client list includes: Mercedes-Benz, Rok Group,
Norwich Union, University of Exeter, Redrow Homes, Crest Homes, Kier Group,
Devon County Council, British Gas, London & Devonshire Trust and Plymouth
College.


Covell Matthews

The total consideration has been calculated by reference to a multiple of 3.5
times the average of Covell Matthews' profit before tax for each of the 12
months ended 31 December 2006 and the 12 months ended 31 December 2007
respectively.

2.1m is payable immediately (which includes an allowance for 425,000 of cash
left in the business) and will be satisfied by a cash payment of 1.7m and the
issue of 386,204 shares of 0.5 pence each in the Company ('New Ordinary
Shares') at a price of 109.3 pence per share.

Application will today be made for the New Ordinary Shares to be admitted to
AIM. It is expected that dealings in the New Ordinary Shares will commence on
8 February 2006.

The balance of the consideration will be paid in stages in June 2007 and
June 2008, and will be calculated according to the future performance of Covell
Matthews for 2006 and 2007. Ultimately, the total consideration will be satisfied
by a mix of cash and shares at approximately 75% cash/25% shares.

For its financial year ended 30 April 2005, Covell Matthews' revenue was 1.8m
and its profit before tax was 0.5m.

The acquisition of Covell Matthews will increase SMC's exposure to the
architecture and design market in the East of England, East Anglia and the Home
Counties.

Covell Matthews' client list includes: Turnstone Estates Ltd, Wrenbridge,
Capital & Counties, Lothbury Property Partnership, AMEC, Anglian Water
Group, University of Cambridge and Kings College School.


The acquisition of Ian Penrose Architects and Covell Matthews will be the fifth
and sixth transactions completed by SMC. The SMC Group seeks to achieve
geographical coverage throughout the UK. SMC's strategy focuses upon organic and
acquisitive growth, aiming to acquire established companies with strong trading
histories and prospects, thereby gaining access to larger scale and higher
margin projects such as major town centre regeneration or large government
schemes such as schools and hospitals.

Commenting, SMC's Chief Executive, Stewart McColl said:

'We are delighted to welcome Ian Penrose Architects and Covell Matthews to the
stable of SMC companies. Both acquisitions will be earnings enhancing and we
expect them to generate value for our shareholders. They also increase our
geographic footprint, which has particular relevance to education projects,
specifically related to the Building Schools for the Future programme on which a
local presence is deemed advantageous. Our Group has already created a new
division, SMC Education & Community to focus on expected opportunities in this
sector, which will see 60bn invested in improving school infrastructure over
the next 10 - 15 years. Both new acquisitions will contribute to and benefit
from this initiative. One Group company, SMC Gower Architects based in Leeds has
recently been selected by the Investors in the Community and Land Securities
Trillium Joint Venture to assist them with their bid for Leeds City Council's
250m schools programme'.

For further information contact:

SMC Group Plc
Stewart McColl 020 7495 5335

cheers GF.

Recent broker note from Hardman shows just how cheap this one is.

http://www.armshare.com/assets/contributordocs/SMC%20Feb%2006.pdf

cheers GF.

Back to winning ways and no wonder with a prospective P/E of only just over 9, please see the note above.

cheers GF.

Another Bullish Broker note..........

http://www.edisoninvestmentresearch.co.uk/download/pdf.php?file=smc030206update.pdf

cheers GF.

Moving up nicely on a rotten day all round. Shows quality.

cheers GF.

Info from another board, 'keep on Buying' a tip sheet says this weekend.

cheers GF.

This one looks like a good short...I wonder what will EK say ;)

I see hardman have upgraded forecasts for the year.

cheers GF.

Nice to see this one moving up this morning on a general dull day so far.

cheers GF.

A good take up here.

SMC Group Plc
15 February 2006




SMC Group Plc
('SMC', 'the Group' or 'the Company')

Placing of New Ordinary Shares

SMC, the architecture and design business, today announces that the Company has
raised 1.72 million, before expenses, by way of a Placing (the 'Placing') of
1,707,400 new ordinary shares of 0.5p each in the Company (the 'Placing
Shares'). The Placing has been completed at a price of 101p per Placing Share.

The placing was substantially oversubscribed and was taken up by new and
existing institutional investors, thereby widening the shareholder base.

Application has been made to the London Stock Exchange for the Placing Shares to
be admitted to trading on AIM. Dealings in Placing Shares are expected to
commence on 21 February 2006.

The proceeds of the Placing will be utilised to increase working capital.

Commenting on the Placing, Stewart McColl, SMC's Chief Executive, said:

'The Board is delighted with the level of investor support in this Placing,
particularly from a number of new institutional investors. Our shares were
admitted to AIM in June 2005 at 43p and we are determined to continue to deliver
value for our growing number of shareholders.'

- ends -

For further information please contact:

SMC Group Plc Tel: 44 (0) 20 7495 5335
Stewart McColl
cheers GF.

A corker of a day, and an acquisition imminent?.

cheers GF.

Finished the day positive after a bad first half..... nice.

cheers GF.

Fantastic contract news, perice flying this morning....

SMC Group Plc
27 February 2006




SMC Group Plc
('SMC' or 'the Company')

New Contract Wins

SMC Group Plc, the architects and design business, is pleased to issue details
today of the construction value and new fees contracted since 5th December 2005.
The following projects have a total construction cost of over 0.5bn and
represent stage fees for SMC in excess of 10m.

Mixed-use Developments

30m Masterplan for 7acre business quarter for Leicester Regeneration
Company
30m mixed use development 800 student residential units, retail and
multi-storey car park
7m Retail, Hotel and Residential Development in Chelmsford for Turnstone
Estates
16m Retail and Residential Development in Bury St Edmunds for Halladale
10m 9acre mixed use development, Seacroft, Leeds
30m North West LIFT Initiative (ITN Stage) for Bluestone

Offices/Office Parks

22m Offices Pre-let to Norwich Union in Norwich for Lothbury Property
Trust
5.5m Office Development in Cambridge for Capital & Counties
2m Offices in Pampisford for Turnstone Estates
3m HQ Office Refurbishment in Huntingdon for Anglian Water Group
6.5m Town Centre Office Development in Chelmsford for Turnstone Estates
10m Various Business Parks in Bristol, Exeter and Plymouth for Roc
Developments Ltd

Industrial/Distribution

20m phase 1 1m sq.ft. Mercury Logistics Park Bucharest now on site
15m 350K sq.ft. Distribution Centre in the Midlands
15m 450K sq.ft. Distribution Warehouse, Northampton
42K sq.ft high bay cold store Holmewood, Chesterfield, for Innovate
Construction
7m Industrial/Business Park for starter workshop units for West Devon
Borough Council
8m New engineering facility, and redevelopment of Industrial Unit at
Nelson for Fort Vale


Residential

10m Various residential developments in Liverpool, Lancaster and
Trafford
14m residential in Trafford - Planning Permission granted 17th February
for Country & Metropolitan
11.5m Residential Development Cambridge for Miller Homes

Retail

7m Town Centre and Residential complex, Alnwick, Northumberland
10m 150K sq.ft. Retail Park East Midlands
3.5m B&Q Retail Unit in Bedford for Wrenbridge Land & Estates

Hotels

20m Various Hotel projects in the Lake District, Northumberland, new
build and extensions for which clients include De Vere Hotels
8m Four Star Hotel and Conference Facilities in Cambridge for
O'Callaghan Hotels

Schools/Universities

6m Phase 2 Innovation Centre for South West Development Agency
45m Bid for Building Schools for the Future Programme for Leeds Schools
by Land Securities Trillium
10m New Build Primary School, Lancashire, for Salford Diocese and New
Sports Facility, Oldham for Newbridge School
8.4m Student Residential Accommodation in Cambridge for Camstead Homes

The business continues to make considerable inroads into the Build Schools for
the Future programme and has now been invited to assist Land Securities Trillium
in their bid for Leeds Schools. We have also been appointed to the National
Framework for the National Grid and we are at present in a limited competition
for a major iconic building for a London University in competition with Foster,
Hopkins, Grimshaw and others.

-ends-

For further information please contact:

SMC Group Plc Tel: 44 (0)20 7495 5335
Stewart McColl

Noble & Company Limited Tel: 44 (0)20 7763 2200
Matthew Hall

Bell Pottinger Tel: 44 (0)20 7861 3232
David Rydell/Geoff Callow

cheers GF.

Firing on all cylinders. Corker of a start to the day.

cheers GF.

Just back from a fortnight break to see SMC has broken out.

Thanks for the update on the contract news goldfinger, serious money being earned by SMC and serious gains ahead for shareholders I fancy.

all the best

capa

Cheers Capa, yes were going in the right direction.

cheers GF.

http://www.edisoninvestmentresearch.co.uk/download/pdf.php?file=smc270206update.pdf

cheers GF.

Play of the Week in SHARES mag today

Brilliant news, mind they are a bit late on the scene.

cheers GF.

Going great guns now, 2.00 by the end of the year anyone ?

capa

Easy.

cheers GF.

Nice to see this one carrying its rise up.

cheers GF.

Moving up again and its still very cheap. Prospective P/E of 12.6 to 31st of Dec 2006 and a PEG of 0.2.

cheers GF.

Wasn't much of a pull back was it?

I fully expect the recent sellers to be kicking themselves shortly.

all the best

capa

Yup they have lost a decent chunk of thier return.

cheers GF.

Could be good news again..

SMC Group Plc
20 March 2006

20 March 2006

For immediate release



SMC Group Plc

('SMC' or 'the Company')



Press Speculation



SMC notes the article in the weekend press concerning the Company's possible
acquisition of the business of Alsop Design Limited. SMC confirms that it is in
discussions with Alsop Design Limited which may or may not lead to the Company
acquiring this business.

For further information please contact:

SMC Group Plc Tel: 44 (0) 20 7495 5335
Stewart McColl

Noble & Company Limited Tel: 44 (0) 20 7763 2200
Matthew Hall




Bell Pottinger Corporate & Financial Tel: 44 (0) 20 7861 3232
David Rydell/Geoff Callow

cheers GF.

The Alsop deal seems to have been well received !!

capa

Certainly does cracking rise up this morning.

cheers GF.

Today's rise means anyone who bought on results last September has trebled their money.

Indeed , indeed, NICE,

cheers GF.

This share is up on an acquisition and is trading at less than 12 times earnings and the charts are excellent. Pity about the terrible spread!!!!

Spread doesnt bother me a slong as we contine to get growth.

cheers gf.

Not too many worrying about the spread this morning.

all the best

capa

No not at all. Going like a sprinter.

cheers GF.

Intra day reversal, this is looking very strong

capa

Yes excelent move up again.

cheers GF.

Its in Quantum Leap (tip sheet) today GF as a buy ,may explain why lots more are piling in.

Cheers jimmy

capa

Yup cheers Jimmy, took a few bob profit this afternoon, but most left in.

cheers GF.

Bombing away again.

cheers GF.

Taken a few bob more profit .

cheers Gf.

goldfinger - been quiet on here for a while, but we ARE away from the shorters as per the thread title!

Excellent move upwards today, probably in anticipation of a couple of days hence.

Excelent move up.

Period of consolidation, hardly drifted at all really and now looking to breakout on back of results.

looking very good.

capa

Certainy is Capa.

Certainy is Capa.

Going well again this morning.

Results bang on the button and in line with concensous forecasts. A few short termers taking profits gives others the opportunity to climb aboard.

International expansion on the cards.

GF - my read of the results was that they were excellent so I can't understand the huge drop in SP. What more could the company do?
I'm in AEX too - they announced pretty flat results today (I felt) but they have ticked up a bit!
No logic at all but markets are often very difficult to read.

Hi Schiff,

Ive been in this business 23 years now and nothing suprises me anymore.

I had hoped the advfn wallys would keep away from this one but lets face it, its been the small cap of the year.

Will wait for a calming down and then add a new tranche or two.

Beleive me its only about being patient.

Finance director has bought a few.

As mentioned results were bang on the money which we knew from the in line trading statement, what do investors want blood?

Maiden dividend and confident outlook, recent aquisitions to kick in this year, all looks good to me.

capa

Maybe the investors are looking at the PE circa 66 and div of .6%. But lets not complain, we have had a good run, and in my view any move down will be another fantastic opportunity to top on. SMC is still small enough to multiply repeats of what I feel is exceptional growth presented in these last results. Patience! .....We may also need to apply to the royal house for a knighthood for GF.

Rather a fine looking RNS this morning, look at all that new business. "International work continues to flow at Alsop"

Marvellous.

capa

Excelent news.

down about 30% from its high just over a few weeks ago

Not a suprise really after the rise its has produced a great opportunity to top up at a price I didn't think we'd see

Im still thinking we may get them lower shameless be very carefull here as we might see a bounce and then another fall. Best of luck, we need it.

Could do goldfinger, if it falls back to a historic PER of times 15, around the 105p level, I'll be filling my boots :)

So will I.

gf, some weeks ago i said keep an eye on PRM that news flow would be starting soon.

Cheers 049.

Many thanks.............. GF.

A nice littlle bolt on here.....

SMC Group Plc
30 May 2006

Tuesday 30 May 2006



SMC Group Plc

('SMC' or 'the Company')


SMC acquires Charter Consultant Architects


SMC Group Plc, the AIM-listed leading group of architects and designers,
announces the acquisition of The Charter Partnership Limited, trading as Charter
Consultant Architects ('Charter'), an architecture and design company with
offices in London, Bedford, Bournemouth and Ipswich.


Highlights


The total consideration is based on an initial payment of 3.56 million,
with 2 further payments contingent on Charter's financial performance
between now and 31 December 2008


The payments are structured as follows:


The 3.56 million initial payment is due immediately, and will be
satisfied by a cash payment 1.55 million, loan notes of 0.23 million
and the issue of 1,340,026 shares of 0.5 pence each in the Company ('New
Ordinary Shares') at a price of 132.83 pence per share


The 2 further payments, contingent upon the future performance of
Charter, will be calculated with reference to 70% of Charter's profit
before tax multiplied by 5 for each of:


i) the period from the date of acquisition to 31 December 2007;and

ii) the period from 1 January 2008 to 31 December 2008


Each payment will be calculated net of cumulative prior amounts paid in
respect of the total consideration


The further payments in respect of the acquisition of Charter will be made
on 1 July 2008 and 1 July 2009 respectively. The total consideration will be
satisfied by a mix of cash, loan notes and ordinary shares


Application will be made for the New Ordinary Shares to be admitted to
AIM. It is expected that dealings in the New Ordinary Shares will commence
on or around 5 June 2006


Charter's clients include: BT, Gillette, Trinity College Cambridge, MoD,
Norwich City Council, University of Essex, University of Luton, Interserve,
AMEC and Highcross Strategic Services


The directors consider that Charter's projects in progress exceed 750
million in construction value and that the acquisition will be earnings
enhancing


The directors consider that the acquisition of Charter will increase SMC's
exposure to the architecture and design market in the South and East of
England and provides increased exposure in the education sector and MOD work


With the addition of Charter, SMC will have approximately 440 members of
staff


For the audited financial year ended 30th April 2005, Charter's revenue
was 7.2 million and its agreed normalised profit before tax was 1.3
million


Commenting, SMC's Chief Executive, Stewart McColl said, 'We are delighted with
the acquisition of Charter, a business that was introduced to us by one of our
operating companies which already held Charter in high esteem. We look forward
to seeing our various teams collaborating with them to bring considerable
benefits to our clients and our shareholders.'


Chris Littlemore, Chief Executive of Charter, said, 'We believe that the
relationship with SMC is a fantastic opportunity, will enhance our collective
ability to deliver projects much more efficiently by way of sharing skills,
resource, technology and geographical coverage'.


For further information contact:

SMC Group Plc
Stewart McColl 020 7495 5335

Main tip for SCSW this weekend.

Results due 30th August.

I am awaiting in anticipation !

So am I. Fingers crossed we should have some good ones.

What figures are you expecting goldfinger ?

Much much further to go here. Trades on a lowly prospective P/E of only 12.5 (2006) dropping to 11.7 the following year to end of december. PEG of only 0.2 to 31st december 2006.

THIS IS A STEAL.

Excelent news this morning............

SMC wins 5 mln stg 'Building Schools for Future' contract
AFX


LONDON (AFX) - SMC Group PLC, the architects, said it has been appointed to The Miller Consortium, which has been selected by Leicester City Council as the preferred bidder for the city's 235 mln stg 'Building Schools for the Future' scheme.

SMC said the contract involves work on 15 schools over a period of six years and is worth around 5 mln stg in stage fees for the company.

Work is due to start in 2007 at the four schools in phase one of the programme, while the remaining 11 schools will be delivered in a further three phases over the following six years.



newsdesk@afxnews.com

ak

Latest broker update..........http://www.equitygrowth.co.uk/reports/EGRSMCGroup-07Sept06.pdf

Another apparantly well thought out acquisition(s) swoop by SMC establishing SMC Scotland - This really does appear to be a well run and structured business that is on the way to achieving its mid / long term goals. Broker target price of 1.79 seems in sight again.

Yup excelent news. I said this one was a steal a few weeks back. Those Broker figures look very conservative to me.

Agree with you there GF...........one only has to go on the website to be impressed by the quality and depth of this organisation......also just had the latest financial communication as a shareholder........written in a very open style IMHO. Interesting to look back at your post of nearly exactly a year ago and SMc's vision for future growth...12 months on seems to be progressing nicely. What is your view on shareprice growth potential / timescales????

Regards

AUGUSTMAN

Hi AM,

I think the Brokers target will be beaten in the short term and Im now awaiting the inevitable upgrade from the house broker and tip sheets.

Lets see what they have to say.

Cheers GF.

Hardmans are very quick out of the blocks AM......

Update from Hardman & Co :

2006E Sales 34.7m Adj eps 11.0p
2007E Sales 55.4m Adj eps 17.8p

Their thoughts on the gearing / equity fundraising issue :

Initially the five acquisitions are to be funded through SMCs current bankers, the Bank of Scotland. In our note of 31 August we highlighted that at the half year SMCs gearing level was 77% and that this appeared on the high side. Under our then forecasts we assumed a full year 2006 gearing ratio of 64% - the company itself has stated that it has a target gearing ratio of 50%.

Following this latest spending spree SMCs gearing level will be close to 85%. Interest cover at the end of the 2006 financial year, is however, estimated to be a healthy 9.0x. We suggest, however, that given SMCs stated gearing target of 50% and the likelihood that the company will pursue further acquisitions in the future, there is a high chance that SMC will seek to raise further equity capital in order to fund its continued expansion.

We estimate that in order for SMC to return its gearing ratio to a level at which both itself and its bankers will be comfortable, and to allow some flexibility for further growth, that SMC will need to raise in the order of 6.0m to 7.0m via en equity issue.

At SMCs current share price of 152p the company would need to issue a maximum
additional 4.8m shares and we have assumed that this is the case in our financial forecasts.

And to conclude :

Whether these acquisitions are ultimately debt or equity funded our valuation range for SMC is considerably greater than the current share price of 152p per share. We believe that a value of 230p per share is fair.
NICE.

excellent post GF thanks

AM

And the rise continues.

Yes - onwards and upwards - interesting reading your original post - exactly why I got in in the first place - had made some serious wonga with DFD / COH / HVX and just fancied a bit more of a steady eddie in the portfolio - merry christmas - i hope!!!

I'm still holding these, cannot see that they can get away without a placing but earnings enhancing acquisitions and pretty cheap at that.

I like Hardmans fair value price.

capa

Nice to hear from you again Capa.

Great to see you in here.

I hope your going to be around a lot more going up to xmas.

cheers GF.

Cheers goldfinger,

Over the last couple of months I have done a bit of tidying up of my portfolio and have basically 8 long term holds which I add to on any weakness. SMC is obviously one of them, RNWH another, which I believe you also hold, so may see you on that thread in the next few weeks or so.

capa

Looks like someones picked a few up early on - a nice 5p tick up

Cheers capa yes indeed I still hold Rnwh.

SMC motoring away again as you say AM.

smc on the rise again - after that broker note this boy detects some more institutional interest / or a substantial purchase order - the MM's are reacting quickly to purchases and clicking up and down on small orders. A nice rise early today, and I detect some strucutred buying going on - a 50,000 sale just gone through - follow the buys!!!!! IMHO of course

AM

Going great guns.

Hi all, is there a target price for SMC? Looks like it is not too late to join in... any commend is greatly appreciated!!! swseun

SWSEUN - read goldfinder's post above - makes good reading - broker target value / price 2.39 - good luck AM

sORRY - THAT SHOULD HAVE READ 2.30 AM

Thanks Augustman :-)

SMC up another 3p - we have now nearly reached the original target price of 1.79 placed on the business prior to the latest acquisitions by Numis Securities. This should continue to tick up nicely until Christmas - hopefully with some more snippets of positive contract news - dont expect flood gates though - next financials should start to drift through Dec / early Jan i reckon - time to top up is now IMHO - DYOR

Augustman

2.39 here we come.

The sector is bouyant if not positively buzzing, for confirmation see trading update by AUK this morning.

capa

Yes things are looking brilliant in this area Capa.

Rumour of the day in the Times today, states that there is rumour of a 6m placing being undertaken at 1.60.

As previously posted I reckoned on this, if the rumour and price is correct then that is great news in my opinion.

capa

Good news indeed Capa at that price.

SMC Group Plc
19 October 2006



SMC Group Plc

Stage payment in respect of acquisition of DTR:UK Ltd


SMC Group Plc, ('SMC' or the 'Company'), the AIM-listed leading group of
architects and designers, announces the payment of the next stage of
consideration in respect of the acquisition of DTR:UK Ltd, announced on
28 October 2005.

The Company has issued 291,436 new ordinary shares of 0.5 pence each at a price
of 160.33 pence per share, being the average closing share price for 27, 28 and
29th September 2006. The Company has also issued loan notes totalling
467,259. The consideration was calculated with reference to DTR:UK's third
quarter 2006 performance.

Application has been made for the New Ordinary Shares to be admitted to AIM.
It is expected that dealings in the New Ordinary Shares will commence on
20 October 2006.

- ends-


For further information please contact:

SMC Group Plc Tel: 44 (0) 20 7495 5335
Stewart McColl

Numis Corporation Plc Tel: 44 (0) 20 7776 1500
Michael Rowan

Bell Pottinger Corporate & Financial Tel: 44 (0) 20 7861 3232
David Rydell/Chris Hamilton

Back in the blue after a quiet few days.

goldfinger - updated Brokers note from Hardman dated 20th October 2006.

http://www.armshare.com/assets/contributordocs/SMC_October_2006.pdf

They've increased 2007 EPS to 18.3p.

Also

"Given this, the companys history and press speculation, we are
confident that SMCs latest round of acquisitions will not be the
last.

The current fund raising was completed at a good price for both
new and existing shareholders and we have set a new share price
target and valuation for SMC of 240p per share."

So that gives a 50% upside in share price from here on, for the Hardman price target of 240p.

Makes for good reading affc21. Ill put in on the link........

http://www.armshare.com/assets/contributordocs/SMC_October_2006.pdf

Pre-market open tick up in share price this morning, followed by more buying.

Looks like people are reading the Hardman note and thinking 50% isn't too shabby

capa

Well done guys - usefull posts - many thanks

Here's to an upwardly mobile day

AM

Looking good guys , looking good.

Published 31 October 2006 at 11:47, updated 11:52

Alsop asked to come up with new vision for Croydon

Will Alsop has been asked to do a Barnsley and come up with an exciting new vision for Croydon town centre in south London.



This article continues for subscribed users (sorry but I am not a subscriber)

http://www.ajplus.co.uk/news/news_article/?aid=55478&sid=49

Intersting news though.

Just a small piece of news above, with hopefully more to come, seeing as SMC have been a regular releaser of contract wins in the past. So maybe we are due for some news from SMC.

Wow - great contract wins from SMC - look at the fees contribtion - a great start to the day!!!!!!!!!.

AM

Yup growing nicely.......

SMC Group Plc
13 November 2006



SMC Group Plc
('SMC' or the 'Group')

New contract wins

SMC Group Plc, the architects and design business, is pleased to issue details
today of the construction value and new fees contracted since its previous
announcement in July 2006. The following are some of the projects contributing
to a total construction value of over 2.35bn and represent stage fees for SMC
in excess of 31m to be earned over the next few years, including construction
values (1.48bn) and stage fees (22m) secured as a result of the acquisition of
four businesses in Scotland (Davis Duncan Architects, Hugh Martin Architects,
Jenkins & Marr and Parr Architects) and the Midlands based Hickton Madeley
Architects, all on the 22nd September 2006.

These contract wins underpin the management's positive view on the Group's
trading position and also their confidence on the outlook for the future.

Mixed Use Developments

40m Cordwell Property, Yorkshire
50m Croydon 20/20 Vision, masterplanning in Croydon
40m Confidential project, North East of England

Offices/Office Parks

40m Opus Developments, IBM Site, Warwick
21m Saxan Securities, Office Development
3.5m Wrenbridge, Colwyn House, Colchester
16.5m CEG, Harrogate
5m Lunn Ventures, Seacroft, Leeds

Healthcare

30m Bluestone, North West LIFT Initiative
4m Mistal, ABI Unit & GP Surgery plus Residential, Newcastle

Industrial/Distribution

6.2m Wrenbridge Land, Royston, Kings Warren 1 and 2
9.2m Confidential Client, Blackburn and Mountheath
10m Reed Boardall, Bar lane, Boroughbridge

Residential

7m Richardson Cordwell, Millennium View, Coventry
7m HMS Collingwood Accommodation
13m SDC Builders, Bedford
8.6m Housing, Plymouth, Exmouth, Somerset, Tavistock and throughout
Devon generally



Retail

2m Food Stores, Falmouth and Plymouth
10m Confidential Client, Retail Store Extensions

Government Buildings/Ecclesiastical/Courts/Custodial

10m North West Estates, Ipswich County & Magistrates Courts
200m Civic Building, Midlands
1m Listed Church refurbishment, Aberdeen

Education

100m University Student Accommodation, confidential
20m City College, Norwich
22m Dundee College, Development of Gardyne Road Campus
7m Student Accommodation, Exeter

Leisure/Hospitality/Sports and Leisure

3.9m Alfred McAlpine Capital Projects, Ramada Hotel, NEC Birmingham
5m Classic Lodges, Hotels x 2, Stratford and Kanturk
50m The Pinnacle Leisure/Hotel/Residential/Retail/Attraction,
Birmingham
20m Confidential Exhibition Centre, North East of England


New business continues to be generated in many different sectors across the UK.
International work continues to flow into SMC Alsop in the Far East and North
America although the company remains selective about the contracts it pursues.

- ends -

For further information please contact:

SMC Group Plc Tel: +44 (0)20 7495 5335
Stewart McColl

Nice to see this one moving up this afternoon.

Continuing its march up this a.m.

Could we see 2 at long last?

capa

Doesn't seem to be much stock about.

Perhaps any overhang resultant from the placing has now cleared.

One can only hope

capa

Looking good again this morning.

capa

And again this morning.

Good morning folks,

SMC have apparently been tipped by SCSW for next year (2007), amongst other stocks as well.

So probably explains this mornings rise in share price.

I am not a subscriber to SCSW, so unable to post more details.

Cheers affc21

Good to know

capa

Showing signs of life again and so it should far too cheap at the present SP.

Forward P/E of just 10.4 and a PEG of 0.1 to the end of DEC this year 07.

Agreed goldfinger, it really is about time these were above 2

capa

In the blue again this morning 2 cant be far off.

There has been some decent buying over the last few days. They must run out of stock soon, fireworks when they do I reckon.

capa

Buying continuing this morning.

Have added myself, first top up since the 90p's

capa

Yes all looks very positive here capa.

Could be something in the air here chaps - SP jumps up late on with nearly 700k sales - the last at 1.89 - could be a substantial buy order placed - maybe new info about to be released - who knows - keep your eyes on this one next few days
AM

Will do AM.

up another couple early on.

Yes the momentums behind this one at the moment.

Bought into these pre xmas at the 160'ish level so very happy with the rise and looking for well north of 200p on these

a very steady days - buys outnumber sells 20:1 on average daily volume but this stock is being picked up steadily - no official news due til April so interested in the old no smoke without fire theory as cant find anything substantive anywhere - confident that your optimism is well placed Max - my target April still 2.15 DYOR

AM

Hopefully the break of 190p could lead us quickly up to 200p despite the best efforts of Numis to keep it down

Talk Numis Max - interested - AM

Numis are clearly holding stock from the placing or are selling it for a fast profit for someone. Numis the housebroker also were holding this down pre the placing. I think once they have been cleared 200p plus will arrive quickly.

Looks ready for a tick up aswell.

Yep that makes sense MD i just feel that all the slow shaking could be because there is a buy order still to be fulfilled - if true then 2.00 will be with us fairly soon. IMHO

AM

Maybe but NUmis are the housebroker and they are willfully holding the price down and also knocking it down when they can

Here we go again spread closes - bid price moved back - shaky shaky

I don't think so AM. Numis are dumping stock for someone at set levels. They have sold far too much stock for a tree shake.

yep you could be right still plenty of small buys coming in, and just a couple of sells today - thanks

AM

ouch.......didn't see this coming chaps

SMC Group sees FY pre-amortisation profit of 5.1 mln stg, below market forecast
AFX


LONDON (AFX) - SMC Group PLC said it sees full-year pretax profits before amortisation below market expectations at around 5.1 mln stg, hit by its change to a more conservative approach to its work in progress.

The architecture and design business said it was 'adopting a conservative, consistent and centralised approach to the treatment of work in progress... in the interest of future performance' as a result of an independent report it commissioned at the end of 2006 from a 'big four' accountancy firm to look at its strategy and business model.

The company said the trading environment 'remains excellent' and its overall outlook remains 'positive' with over 60 pct of budgeted turnover for 2007 already secured.

SMC said organic growth and net debt will be in line with its expectations.

newsdesk@afxnews.com

tsk/nes



COPYRIGHT



Copyright AFX News Limited 2006. All rights reserved.


Comments please - a buying opportunity possibly, but is this normal - the market doesn't seem to think so.

AM

COMPANY RELEASE FOR THOSE WITHOUT ACCESS


SMC Group Plc
25 January 2007


SMC Group Plc

Pre-Close Trading Update

SMC Group Plc, the architects and design business, provides the following
pre-close trading update for the year ended 31 December 2006.

At the end of 2006 the Board commissioned an independent report from a 'big
four' accountancy firm to look at various aspects of the Group's strategy and
business model in conjunction with SMC's new finance team. As a result of this
report the Board has decided to apply a more conservative, consistent and
centralised approach to the treatment of work in progress across the Group and
believe that approach will be in the interest of future performance. It has been
decided to adopt this with immediate effect to the preliminary results for the
year ended 31st December 2006.

The impact of this change will result in profit before tax and amortisation for
2006 in the region of 5.1m which will be below market expectations for both
overall and organic turnover and profit, but still represents an un-audited
profit growth of circa 65% on the previous year.

The Board is confident that this conservative approach is in the long term
interests of the Group. The report vindicated the Group's overall business model
and concluded that the policy of acquiring businesses on the basis of 5 times
post tax profits will be strongly earnings enhancing and the management's
pre-acquisition forecasts of post acquisition performance for new operating
companies is realistic.

The Directors report that organic growth and net debt will be in line with their
expectations. The trading environment remains excellent and the overall outlook
for the Group remains positive. The company is pleased to record that over 60%
of budgeted turnover for 2007 is already secured.

Preliminary results for the year ending 31st December 2006 will be announced on
Thursday 29th March 2007.

For further information:

SMC Group Plc Tel: +44 (0)20 7495 5335
Stewart McColl

Numis Securities Tel: +44 (0)20 7776 1500
James Serjeant

Bell Pottinger Corporate & Financial Tel: +44 (0)20 7861 3232
David Rydell/Geoff Callow/Chris Hamilton



This information is provided by RNS
The company news service from the London Stock Exchange

Decided its an opportunity - after carefully reading the article it makes sense to adjust the accounting this way - I just worry why the market has reacted like this - proprably because it is the first that anyone has been told of this 'study' that was carried out. Anyway just bought 5k as rather have a building that was built on hard cash than sand. DYOR

AM

Added at 146p as tis is one crazy over reaction. Especially when reading about 2007 order book on what is essentially an accounting exercise. Saw this done one SEG and the shares did very, very well after the initial silly season.

crazy over reaction - profit growth albeit unaudited is still 60 odd percent up on last year even on this basis

Well the market always over reacts on disappointing news.

This years profits are going to be short but looking forward, business is in good shape and long term the move to conservative accounting methods is in the interests of everyone.

The air has now been cleared, may take some time for the share price to get back to 2 but I'm not selling at these levels.

capa

No intention of selling on what is still such a low PE.

I would based on their mm performance like to see Numis replaced as housebroker though. I am having serious doubts about their trust worthiness

I think this is my fault guys ....... I must be a Jona !!! I decided to buy @180 expecting a raise above 200 oops i'm terribly sorry.
I don't think anybody could have seen this coming .... or could they (Numis), anyway it's raced through my stop loss, and I know I should sell, but at these levels I think it's a major over-reaction IMHO. Hanging on untill 120 now and then a re-assess me thinks, could be some averaging down.

Strange that Numis were selling in such high volumes as Max damage reported yesterday. Did someone know 'what was going on', hmm.

Ive taken a knock on two tranches and sold out. I have had 7 tranches that were profitable so I cant complain. Its been a big winner to a lot of us, but experience tells me to get out for the time being.

I must say looking at the SP and drop again it looks WELL overdone.

In they end ALL they have done is move a number from one column to another. In reality nothing in the business has changed. SCi did this a few years ago and got hit but the shares 12 months later were alot higher and one reason was in my view alot of weak holders were removed by the false fall. I think SMC will be the same.

McColl just bought 50,000

capa

just bought 5000 @ 1.06 - must be the jan / feb sales at this price. Recovery will take time but hopefully company will learn lessons re communications. No fundamental problems with what they have actually done accounting wise and will hopefully be good for longer term now. Sold after first hit @ 1.39 now back in and looking for the bounce. DYOR

AM

Nice day today - restored my confidence. MP you are right - the facts are that this is a genuine business that has learnt the hard lesson that you cant build investors confidence and then drop a finiancial bomb while the market has confidence in you. Communicate fairly and quickly - personally am interested in Numis role in this - your lack of confidence previously was interesting, and the comment made by GF is worth more than a passing thought - anyway, the next few weeks will see how the market support pans out - any new news will obviously help things, and get the train back on the rails......personally am in again so feel justified to comment strongly from now on.

AM

if your looking for a good architect company to put your money into at a good price then look Aukett Fitzroy Robinson Group (AUK) you x3 your money hope this help you O do your home work frist good luck

Cheers Micky - will have a look

AM

all trade in first half hour buys - hopefully the recovery continues to a sensible level IMHO around 1.40 DYOR

AM

Back up another 9 this am and the spread is down to 2 - much better. Now lets see some stability and steady growth going forward. A comment from SMc overdue imho.

AM

just bought some (smc )augustman hope there going up wts the top end on this ? did you look at (auk) wt you think don't be fooled by the sell.

Just going to spend some time digging Micky- will post on AUK during next few days - as for SMC, Just as I mention stability, we sell a few sells pull back the price. I believe the price will continue to fluctuate for at least a few weeks now. Results are due March, and the company, especially SMc need to communicate carefully and honestly to investors now, as to the success of integrating all these businesses. If this happens then short term we could see 1.40 (2-6 weeks). beyond March I see a slower climb over next six months to top 1.60's, Mybe if a feww juicy contracts are won 1.80's. Thats why bought in at 1.06, my other holdings were bought in the 1.20's. Still has good growth potential short term imho. 30 - 50% growth over 12 months DYOR. and good luck.

Regards

AM

Thanks mate looking on and upwards long term .

This has been on my watch list since it toppled off the cliff and directors bought some. Usually I like my recovery sp's to be within easy reach of the 65 & 130 dma's, which suggests a bit of a wait, but on the other hand I like the story behind SMC, whilst elsewhere, architects seem to be enjoying a field day with blank cheques for the Olympics and PFI's: so I'm having a nibble now, hoping to straddle the bottom. FWIW my gut feeling is that we are in the midst of a mini financial bizzard, not unlike the SIM fall last year and within a few weeks investors will recover their appetite and I will be buying into any rises.
sD.

Must admit to buying a few SMC today, will get a few more pre-results, and then get a lot more if the results statement reads well and all looks in order.

http://www.armshare.com/assets/contributordocs/SMC_February_2007.pdf

A couple of AFN posts, to be taken with a pinch of salt, or maybe not........ DYOR !


BIGBOBJOYLOVE - 6 Mar'07 - 15:01 - 4563 of 4573
after a very informative and pleasant phone call i have just purchased another 5 grands worth, from the vibes of the conversation i rather suspect the directors would love to buy 'down here'.


tonystringy - 6 Mar'07 - 18:52 - 4567 of 4573
Not today!
Just doing a spot of bottom fishing exploration for when the markets finally settle down and I have to say that so far SMC are looking pretty good!
Directors adding more than just a piddly few shares at a higher sp than here, and an institution increasing exposure at a slightly higher level. No institutional off-loading so far.
-A favourable PE....
Will have to watch closely.


BIGBOBJOYLOVE - 7 Mar'07 - 09:06 - 4572 of 4573
compared to the likes of ROK u see what a bargain you're getting, from the conversation i had, expect some serious director buying on results day.

Nice to see it moving.

L2 is all blue and 3 v 1 @ 100/102 (only NUMIS on the offer)


On Line Limits :

BUY 10K @ 101.49p

SELL 10K @ 100.6p

The main thing for me is that Numis was off of the offer from around midday today. They have been on the offer for a long time on the drop and afterwards, so them moving to the bid was a very positive signal.

This should mean the seller is clear, and the price will now respond to buys. The seller has twice caused an attempted bounce to fail, now we see Numis off of the offer, this bounce hopefully should prove the one that moves us back to nearer where the directors purchased on the way down, which is around 135p levels.

If, as has been said, the directors are very disappointed at the market response and thing the price is way oversold, then hopefully we will have some action on their behalf once they have released results, nothing they can do until then as its closed period.

Chart Breakouts looking for 130p short term.

http://www.chart-breakouts.co.uk/latest%20trades.htm

Going above 110p would be a breakout, so a key thing to watch for imo, could be a surge point.

Excellent news, and Laing are doing the Olympic work as well I do believe :)


http://www.investegate.co.uk/Article.aspx?id=200703080701155594S


SMC Group Plc
08 March 2007

SMC Group Plc
('SMC' or the 'group')

Architectural framework agreement

SMC Group Plc, the architects and design business, is pleased to announce that
it has signed a framework agreement with construction giant, Laing O'Rourke
(LOR), under which SMC will provide architectural services for LOR projects
within the terms of their highly respected 'Building Constructive Relationships'
(BCR) programme. The SMC Group of companies' national reach, range of skill base
and resource were key factors in their selection to the framework.

Laing O'Rourke devised the BCR framework as part of their drive to challenge and
change the construction industry to achieve a dramatic improvement in
performance. The company spends circa 75m annually on consultant's fees within
the framework, some 60% of which is allocated for architecture services. While
the precise financial benefits to SMC cannot yet be quantified, there is a
commitment from both LOR and SMC to the collaborative process which should lead
to work on a number of substantial projects.

The appointment of SMC as a strategic design partner to LOR is for a 5 year
period extending through to 2012.

SMC Executive Deputy Chairman Stewart McColl commented, 'We are delighted with
this decision by Laing O'Rourke which will put in place a solid platform for us
to work on future projects together. Laing O'Rourke has worked successfully with
several of the SMC companies in the past and this is a reflection of how we can
collaborate further.'

More info on Laing :

http://www.laingorourke.com/communities.htm

L2 now 2 v 1 @ 110/113 (KBC and WINS bidding and only Shore offering)

Get Shore off of the offer, and a real breakout might happen...you never know.

I'm continuing to nibble at SMC, mine was the 8K buy @ 113.8 this morning. Looking very promising, though I'll be happier if this breaks thro' the 65 & 130 dma's as that would indicate to me that the gloom has lifted and if so I may pile in.
PpP: Good to see you on this thread, I look forward to your high quality research.
sd.

Hi squidd, things are looking good chartwise for some good moves up here.

The director buys at 135p make sense now, it would have been roughly the last time to buy before not only closed period, but also confirmation of this Laing deal. Can see them buying again on results day....todays news is very good.

L2 sat at 2 v 2 @ 112/115 with WINS/SCAP on the bid and JEFF/NUMS on the offer.

http://www.chart-breakouts.co.uk/latest%20trades.htm

Updated commentary on SMC today.

"News of what looks to be a very significant deal with construction giant Laing O'Rourke has certainly sparked interest in one of our recent trades SMC. Although financial details have not been released it can be assumed this is quite a deal given Laings involvement in the construction of the Olympic venues. This certainly has got the shares going back in the right direction although they are only slightly above the price they were before the market plunge last week so there may well be alot more upside to come. Some large buys have gone in today including a buy of 45000 @ 115p"

For what it's worth, think I'll wait til management proves its trustworthiness before I dive in. At the moment, the jury's still out.

Latest Broker Forecasts are :

Edison 06-02-07
2006 PTP 5.10m
2006 EPS 7.90p
2006 DIV 1.20p

2007 PTP 8.00m
2007 EPS 10.90p
2007 DIV 1.40p


Numis 12-02-07
2006 PTP 5.12m
2006 EPS 8.10p
2006 DIV 1.20p

2007 PTP 8.05m
2007 EPS 10.70p
2007 DIV 1.50p


Hardman & Co 12-02-07
2006 PTP 5.1m
2006 EPS 7.90p
2006 DIV 1.20p

2007 PTP 8.00m
2007 EPS 10.90p
2007 DIV 1.40p

I see Investors' Chronicle is backing a wait-and-see approach to SMC - with good reason. After their voracious acquisition spree ("too fast, too soon"), management simply lost control, with departments playing fast 'n' loose with figures in a bid to achieve targets. To dismiss SMC's subsequent dire profit warning as a mere accounting exercise is being charitable, to say the least. Admittedly, since the sp crash there has been a shake-up and, no doubt, a few raps over knuckles in the tastefully appointed boardroom. But I think to invest now, without any official figures or results to go on, would be a little foolhardy.

It was only reference to WIP (Work In Progress) and how that was accounted for, and it was a conscious decisiion by the management to make everything more robust.

The new forecasts are now there, and these do not take into account the latest LOR news of yesterday.

I would say take a speculative punt now, and on results day if things look good, buy a load more, as I am sure the directors will have their funds ready to snap up the bargain price on offer now. Thats what I am doing.

All IMO.

Added a few this morning :)

http://www.bdonline.co.uk/story.asp?sectioncode=426&storycode=3083242&c=1

"Laing ORourke agrees five years

16 March 2007

The SMC Group has hailed a new five-year new framework agreement with contractor Laing ORourke.

The deal, which relates to Laings Building Constructive Relationships programme, cannot yet be measured in financial terms, but should lead to work on a number of large projects.

Laing spends 75 million a year on consultants fees within the framework, 60% of which is spent on architectural services.

SMC deputy chairman Stewart McColl said: We are delighted with this decision by Laing ORourke which will put in place a solid platform for us to work on future projects together."

My thoughts:

If LOR are spending 75m and 60% are architects fees that is 45m

Lets assume only 25% go to SMC, which is 11.25m revenue

Assume 10% margin, which should be conservative given not all operating costs would be incremental with the revenue. That is 1.125m additional profit in 2007, which does not appear to be factored into the recent brokers forecasts.

Assume 3 quarters of the 1.125m hits the books in 2007 as we are 1 quarter through the year, which is 844k, or 0.018 eps (45800000 shares in issue)

Forecast eps for 2007 is currently 0.11, and with the 0.018 added is 0.13 eps


At 110p, and 2006 forecast eps of 0.08 the business is on a PE of 14


Apply the PE of 14 to the new eps of 0.13 and you have 182p

UPSIDE OF 72P OR 65%

If the work allocation increases from 25% to 35% projected price is 190p

At 45% is 200p

At 55% is 211p

Looks good to me.

Weakness to be expected up to today, must be a lot of spread bets set up earlier at higher levels that are now due to close out or rollover.

Roll on next week :) and results.........fingers crossed all is well :)

Results next Thursday (29th of March). Worth watching for a fast move (hopefully upwards with no bad news).

A good post on AFN :



NJP - 22 Mar'07 - 12:19 - 4842 of 4842


Their 'accounting problems' haven't come about through the usual route of shoring up years of underperformance by cooking the books. There aren't any fictitious assets or 'black holes' here. It's actually very easy to see what's happened. They did a load of acquisitions last year before their new FD had built his team and established his controls.

Not a lot to go wrong here. Team has been established and taking central control over the financial ops of a group of architectural practices is straightforward stuff. There is, however, one big number (WIP) which involves a lot of subjectivity and, if you get it wrong (or, as in this case, have a load of different firms with differing approaches and a variable calibre of accountants) you're faced with potentially a large 'one-off' adjustment to get everything into line. That's exactly what's happened here.

In addition, we've had E&Y poring over the books to mastermind this exercise. Now, with their reputation on the line, they're going to make sure that there aren't any other large skeletons in the cupboards. We've also had an additional statement from them that they endorse SMC's strategy of growth by acquisition.

And, furthermore, we've had significant director buying post the announcement some 30% higher than here. Plus, of course, the recent tie-up with Laing.

I'm really not sure what extra assurance investors need.

http://www.leedstoday.net/ViewArticle.aspx?ArticleID=2136628&SectionID=41

Published Date: 21 March 2007
Location: Leeds

...................................................SEVEN new associates have been appointed by SMC Gower Architects, one of the largest architectural practices in Yorkshire.

The seven, who are all responsible for running a wide range of projects throughout the UK, join five existing associates to form a 12-strong senior management team as the practice continues to grow.

The seven new appointments are Jon Bedingfield, Lee Parkin, Robin Parker, Tony Whetham, Carl Davey, Paul Bower, who has special responsibility for IT, and Daniel Johnson, former managing director of Pontefract-based ADM (Architectural Management Design) who has joined the practice. They join existing associates Paul Gott, Roy Longstaff, Ian Aykroyd, Robert Blundell and Michael Whittaker, appointed last year, to assist the SMC Gower board of directors. SMC Gower Architects is part of SMC Group plc..................

http://www.qsweek.com/nav?page=qsweek.gen_obj_redirects.news&fixture_news=6624593&resource=6624593&view_resource=6624593

12/03/2007 - Architects battle over green schools

A raft of acclaimed UK architects has been shortlisted to design three green primary schools for inner London.

Some 12 architect-led teams are now required to draw up innovative and sustainable plans for the regeneration of three existing schools in Southwark Michael Faraday, Eveline Lowe and Southwark Park.

SMC Alsop, DSDHA Architects, Walters and Cohen and de Rijke Marsh Morgan are battling it out for the Michael Faraday Primary School.

Sarah Wigglesworth Architects, Hawkins\Brown, Edward Cullinan Architects and Birds Portchmouth Russum have been listed for the Southwark Park Primary School.

And HKR Architects, Haworth Tompkins, Haverstock Associated Architects and van Heyningen and Haward are vying for the Eveline Lowe School.
The teams were chosen from 90 entries. According to the RIBA, a winning team will be chosen on the basis of concept designs and interview.

The RIBA said: We aim to find architectural practices that will produce inspiring buildings of exceptionally high quality, sustainability and functionality which will become synonymous with good design and the London Borough of Southwark.

Interestingly its been getting very difficult to buy in any volume last day or so. No idea why they should be restricting volume buys when they make it appear the SP is weak........ ??

Results tomorrow.

Looks like more skeletons found in those cupboards, which was always the downside. A second profits warning like this in a row is a shocker, and means SMC will now become in the realms of sayings including the words "touch and bargepole and not" for a while.

Shame, but thats the way it goes, downside wins today.

I won't say I told you so (no one likes a smart ass) but, as I wrote earlier this month: "...But I think to invest now, without any official figures or results to go on, would be a little foolhardy." Anyone who bought big between profit warnings may now have some time to wait for confidence - and share price - to be restored. There was a time when I, too, almost got caught up in the SMC hype and its reckless buying spree. I wish I always had such foresight!

"NJP - 22 Mar'07 - 12:19 - 4842 of 4842


Their 'accounting problems' haven't come about through the usual route of shoring up years of underperformance by cooking the books. There aren't any fictitious assets or 'black holes' here. It's actually very easy to see what's happened. They did a load of acquisitions last year before their new FD had built his team and established his controls.

Not a lot to go wrong here. Team has been established and taking central control over the financial ops of a group of architectural practices is straightforward stuff. There is, however, one big number (WIP) which involves a lot of subjectivity and, if you get it wrong (or, as in this case, have a load of different firms with differing approaches and a variable calibre of accountants) you're faced with potentially a large 'one-off' adjustment to get everything into line. That's exactly what's happened here.

In addition, we've had E&Y poring over the books to mastermind this exercise. Now, with their reputation on the line, they're going to make sure that there aren't any other large skeletons in the cupboards. We've also had an additional statement from them that they endorse SMC's strategy of growth by acquisition.

And, furthermore, we've had significant director buying post the announcement some 30% higher than here. Plus, of course, the recent tie-up with Laing.

I'm really not sure what extra assurance investors need. "


***********************************************************
Not having a dig - cos I almost bought in on the hype - fortunately (for a change), I could not free up funds.

Just goes to show how wrong we can be - cos it looked so good

Indeed it did potentially look good, however, this is why its wise in these circumstances to just take a "speculative punt" ahead of the news, and do not buy in any substance until you can read the figures, this stategy proved right for me, and many others in this instance.

To the future, well, is there one for SMC now short term ? Going to take years to recover from this new episode.

A third profit warning and yet another new sp low. Could this finally be a buying opp or is it even more reason to steer clear? Surely there can't be room for any more skeletons in Sir Rodders' closet, can there??

Er, that's a graph for SMG, innit? The SMC one looks even worse.

On another, slightly more upbeat note, I see that along with swinging the axe at some of its typically lavish architectural businesses, SMC's error prone ex-boss Stewart McColl has finally "resigned". Must be a step in the right direction, mustn't it?

Sorry guys this is the chart for SMC.

Thanks for the chart, hlyeo98, but I don't think anyone still holds these any more, do they?
Funny how it goes - almost daily updates of the wonderful, not-so-boring SMC when the sp's taking off but, when it crashes back down to earth (three profit warnings in six months and continuing carnage on the boardroom carpet), nary a peep.
A lesson for all BB investors - don't believe the posters' hype and definitely DYOR.

Hmm. Tumbleweeds.

Come out, come out, wherever you are !!?!

Hang on, I thought I saw some movement under those rocks... C'mon, who is it??

C'mon out, guys!!
PP? Schiff?? Shameless??? Augustman????


Where are ya?!?!?

C'mon fellas, let's see ya!!!!!!
Come in Capa, Max Damage, Goldfinger...

Did I hear a rustling in the bushes? Who is it?!?!?
Micky468??? Paperbag???
Or is it.... Squidd????
Where are you all? Don't tell me you all sold up without saying anything! Hmm, and you were all so keen to tell us when you were topping up etc etc etc.

32p!! No wonder everyone's become so bashful and embarrassed.
WHERE ARE U ALL???
Where's OhBugger??? Where's Affc21???
Don't tell me you guys have gone, too?!?
And without so much as a "see ya later", eh?

Not having much joy paulj, I've just had a little dabble at 32p, so should be 20p by the end of the week, lol.

If I had some free funds, I might well be tempted, too, Canada. SMC does have lots of work in the pipeline and now that the megalomaniacal McColl has moved on, the firm should become far more stable and its accounting procedures much more rigorous.
Sp-wise, it looks like the bottom may finally have been reached, with SMC representing good value (as long as there are no more shocks!).
But, as the absence of all the former SMC investors on here shows, the firm does have a long way to go to regain credibility (as indeed do some of the rampers I've mentioned in recent days).

wat is happening at SMC ? big seller and no comment for ages.

Looks like I still have the "kiss of death", 25p to sell, 20p soon ?

Yep, just as well I didn't have those funds available last month (another lucky SMC escape by the looks of it, though there MUST be a bottom to this fall, mustn't there?). Not sure why the sp has taken this latest tumble. Perhaps one of the investors/rampers who had such supposedly intimate knowledge of SMC's workings when the sp was buoyant will finally pop out of the woodwork to enlighten us... or perhaps not.

Are we waiting for the final "gurgle"?

A good growth company with loadsa contracts. Unfortunately the controls that should have been in place were found to be missing, and it crashed. So did the founder, even thouigh he holds a big stake.
Hopefully the new guy at the top, Rodney Walker will be focussed and have the drive to improve the controls and gain the financial performance improvement and drive the sp upwards.
i'm in today for the ride and don't expect a gurgle !

Well, it shud be money for old rope, you only need a pencil and a rubber, draw a square, stick some windows on it and charge a grand. I know, I've just had it done to me!

Agree 100 per cent, johnstonp. If SMC ever gets its act together - and if investors decide to trust the firm again - the sp will shoot skywards, on the basis of the lucrative pipeline and tighter management systems. Like most things, it's all a matter of timing. I've been sorely tempted to back the SMC recovery story but just when I manage to free up some funds, there always seems to be another nasty sp slump. They say fortune favours the brave but, in this case, I ain't so sure...

Still in for the ride. Spent ages looking at the annual report. Luvly pictures of all their work worldwide.
Interims due end August and hopefully more news of contract wins before then. Lets wait and see how the pencil and rubbers work.

23p!, did you all manage to short this after my buy at 32p?, lol.

Your buy at 32p is beginning to look a wise investment.

Andy

Fingers crossed andy, tno had a large seller at 24p, once they had gone the price shot up to over 60p.

What a ppc, looks like the merger is at auk's price, 14.5p/15p..doh!!

canada1 - your sp forecast looks to be good today. sp down 20% after the results last week. worth picking a few up ?

johnstonp, auk down to 12.5p/13p and paying a dividend, out of the two I'd buy auk.