New thread for new ticker RAS


http://www.moneyam.com/InvestorsRoom/posts.php?tid=10776#lastread

50K MM buy in there earlier, should be and deserves to be a decent reaction to very good results.

We should break up through 120p I would hope in the near term.

From AFN :

edcrane - 14 Nov'06 - 09:50 - 41 of 41

Teather & GReenwood comment following results .... raising forecats and BUY recommendation

When Will the Market Recognise the Value Here?

Revenue Assurance Services Plc, formerly XKO Group, has reported interim results this morning, its first since the disposal of the ERP software business and therefore completion of its strategic transformation into a focused provider of revenue assurance services, currently to the utility sector. H1 results, stripping out the contribution from the disposed software business, delivered revenue of 7.93m, adjusted PBT of 2.82m and diluted EPS, on the same basis, of 4.73p. An interim dividend of 0.4p was awarded representing a 52% increase over the previous period reflecting the strength of underlying growth and cash generation.

On the back of this, we have raised our FY 2007 revenue target from 14.6m to 16m, and increased our clean PBT forecast from 5.25m to 6.25m. Our EPS estimate rises c11% to 9.8p, and we have moved our total dividend forecast up from 1.3p to 1.8p. We have been less aggressive with the revisions we have made to our FY 2008 and FY 2009 forecasts, simply as acknowledgement both of the fact that timing of unbilled error discovery is, by its nature, difficult to predict, and to reflect the fact that there was already the assumption of new contract wins underpinning our previous numbers. Our FY 2008E EPS figure moves up to 11.5p, from 11.2p, while our FY 2009E number rises to 13.8p, from 13.6p.

Looking ahead, there is much to attract the investor to this stock. The new entity is now a clearly focused business, operating within a premium growth market with both organic and acquisition-related opportunities available to sustain and, potentially, enhance this growth profile. The balance sheet has significantly strengthened, the business model is highly cash-generative (cash conversion in H1 was c103%), while any concerns over the re-tendering of contracts have been overblown. A calendar 2007E PE of 8.5x also looks outstanding value against a support services sector where multiples in the mid to high teens are common. We are retaining our 140p target which represents a multiple of only c12.5x calendarised 2007 earnings and firmly reiterate our Buy recommendation.

Bloody new thread to set up again.........

I'll do it tonight, as it takes effect from tomorrow :


XKO Group PLC
14 November 2006
XKO Group plc
('XKO' or 'Company')

With effect from Wednesday 15 November 2006, XKO will change its name to Revenue Assurances Services plc and have a new ticker symbol 'RAS'.

XKO's main business activities are now centered on revenue assurance activities
following the acquisition of UBM and Powerdebt in 2005 and the disposal of the
Software and Services Division earlier this year.

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

New thread for new ticker RAS

http://www.moneyam.com/InvestorsRoom/posts.php?tid=10776#lastread