One of the few software companies who pay divs and where the well known shorter EK is long .....

They have a whole range of products for the retailer market and big push on automated betting shop systems ....

H2 in the morning and I am hoping to see good progress and a cautious but positive forward statement.

They are way off their tech boom highs and around 30% off their December lows. There has been a pre results run but I am hoping this will be maintained.

A core holding for me at this time but do play around at the edges

Currently 58/60p


ains

Alphameric tipperd in the Times by Tempus

AS A TECHNOLOGY company Alphameric is noteworthy because it pays a dividend. But yesterday it set itself apart from peers who are similarly positioned by increasing the payout by a whopping 60 per cent. To hear directors talk about rebasing dividend payments is normally enough to strike fear in the hearts of investors because to rebase is often used as a euphemism for to cut. But Alphameric is rebasing its dividend in a thoroughly encouraging way.

The challenge for Alphameric is to prove it can sustain the payments at the higher level. It says it will endeavour to have future dividends covered between two and three times by earnings per share and that is relatively generous in the context of current practice. The company also has a suite of products which generated decent levels of demand last year and is developing new kit which should enable it to maintain the profits growth. Profits last year were driven higher as the company found strong demand among bookmakers for a point-of-sale product. It is now rolling out fixed-odds gaming machines which it hopes will be installed in betting shops and pubs.

There remains a significant risk that Alphameric will be unable to sustain growth. If the experience of the last couple of years has taught investors anything it is that IT spending is cyclical. However, the company is doing enough to suggest it can maintain profit momentum in the medium term. It is also financially strong, with net cash in the bank. Meanwhile the yield, using the rebased dividend, is 4.2 per cent which, given the growth potential, makes the shares look cheap. Buy.

tempus@thetimes.co.uk

February 12, 2003

Results in brief TIMES



Alphameric (software) reported full-year pre-tax profits of 2.5 million (1.7 million loss). The total dividend is 2.4p (1.5p) after a final of 1.8p (1p), payable on April 17.

Alphameric remains a good bet Subscription site 2003-02-11 (Citywire)







Alphameric Cut to `Hold' at ING Financial Markets :ALM LN
By Jonathan Chambers
London, Feb. 11 (Bloomberg Data) -- Alphameric Plc (ALM LN) was downgraded to ``hold'' from ``buy'' by analyst Graeme Clark at ING Financial Markets.

250k cross @ 56p ..... clearly Tempus has lost his tipping touch .... down 1.7% with rest of market

I note the Telegraph also covered them in 'the market' but hasn't helped any - markets are sluggish and down - alm is down 2% on volume of 383K inc the big cross .....



ains

The Daily Mail on Saturday tipped Alphameric as a Buy.

premarket backwardisation stops anyone trading but looks like we will open higher


ains

From EJ's column in the S Telegraph


Two-thirds of revenues come from the US, where the extent of the consumer downturn plus the weak dollar are hurdles for a UK-quoted company. NSB also sounded cautious about prospects here, which clipped 2p off Alphameric's shares - Alphameric is a similar, if UK-orientated, group.

Now 52p, Alphameric also ought to benefit when recovery comes. But it is going to take time for any sustainable improvement in consumer confidence - whether here or in the US - to take place and filter down to influence retailers' spending on IT.

Thus, I rate both shares as "hold". With fresh money, they are well worth watching despite the uncertainties. If managements have cut costs but maintained competitive advantage, bargains can arise when prices drift in an impatient stock market.

Standard Life have reduced their holding by 1.1 million and now hold just over 3% or 3.2 million

get a life ainsoph

If you are offering yours ......... no thanks

THIS BOARD IS YOUR LIFE! Imagine that ainsey!

F

You seem to be saying the same thing on every bb on every thread Fugitive - are u really that sad .......

ains



At the Annual General Meeting of Alphameric plc, being held today, the Chairman,
Rodney Hornstein, made the following statement:

'The current financial year has seen the Retail Betting Division make
satisfactory progress in winning new orders from prospects in the bookmaking
sector. In particular, we continue to win business from the independent
bookmaking sector for our managed ALBOS display systems, an area we expect to
provide good growth this year. Sales of our Fixed Odds Betting terminals are in
line with our expectations.



'Our Retail Division is recognised in our market as one of the leading and most
capable providers of end to end solutions. Interest in our new product range,
Darwin, continues to be high and the prospect list very strong. We are well
positioned to maximise opportunities in this area.



'In the Hospitality sector we are encouraged by the progress we have made and
the interest the business is receiving from the marketplace.



'Economic conditions remain challenging. The timing of our customers'
investment decisions is influenced by the uncertainties surrounding the UK
economy and concerns over levels of consumer spending which has shown some signs
of decline over recent weeks. We are well placed in respect of our
competitiveness and ability to succeed as conditions improve.'