Have searched the archives and there's no prominent threads on NSB. This is a share which has doubled in the last month and continues to impress. Does anyone have this stock ? Or believe it has further to go ? My finger is on the selling button, sell half, keep half, but what are your thoughts ?

thanks fundamentalist . keep us posted on what you think , please.

Just re-read the annual results and also the recent RNS announcements and here are my views (for your info i do not hold NSB but am looking to, I do hold RTD):

Positives:
Cash Balances increased 4m to 13.1m
Returned to operating Profit
Several new contracts: BTExpedite, Gamestop, MGM Mirage, JC Penney
Promotion to FTSE Allshare (trackers will need to buy 25m shares)
Appointment of new PR company (as previously this has been poor)
Positve article from Edmund Jackson in Sunday telegraph (with more expected having read his posts on a competitor BB)

Negatives:
Turnover decreased (though this was expected)
Exchange rate losses
Impact of ammortisation write offs

Trying to value on traditional PE basis is not applicable as NSB is still loss making at a pre tax level. They released an adjusted EPS of 0.65p (PE 51) though the basic EPS was a loss of 7p. To put this into context, RTD recently announced a basic EPS of 0.5p (PE of 40) and an adjusted EPS of 1.4p (PE of 14.3). Broker forecasts for basic EPS for next year are 1.06p putting it on a forward PE of 19. On that basis NSB looks very expensive compared to RTD, however, NSB has greater cash and far greater growth opportunities - this scenario makes it a gamble as you are investing on the basis of what will happen and not on historical profits.

Looking ahead 2/3 years, what can we expect. Here is a potential scenario if the current growth continues: it is perceivable to see NSB having a turnover of 100m (64m this year, 45m related to continuing operations) with a gross profit percentage of 30% (16.7% on continuing operations) giving a gross profit of 30m. Take off admin expenses of 10m (7.7m this yr) and this would give a pre tax profit of 20m. Remove 30% for tax gives an after tax profit of 14m. This would equate to an EPS of 3.14p per share. With a PE Ratio of 20 a share price of 63p and a Pe of 30 would give a price of 95p. This scenario is based on my assumptions and is purely a prediction but it shows what is possible. However, to get to this position, a doubling of turnover on continuing operations is required, margins need to be improved and costs need to be controlled. These may be overestimating growth potential or could be overly conservative - they are just my estimate!

i would appreciate others opinions of what can be expected in terms of turnover/margin percentage in the years to come, as this would help to modify my potential scenario and help me to set a long term price target. i also have been unable to find any brokers estimates for the next two years that have been updated since the results (if anyone has any can they please post)

needless to say this is all IMHO and DYOR if buying shares.

Why all the sells after such good results?

Take your pick: Profit taking, people expecting even better results(!!), overvalued based on results, The Madrid factor

A well subscribed Tip Sheet recomended partial profit taking at the weekend for NSB shareholders.

Anyone know why c 30million shares have been sold off in the last few minutes!

Fact that CE needs new patio :-)shouldn't affect what is a good business with class clients and good growth potential.....imho

Why's are NSB down 8% today when most of the market is up? tia

Probably shares plays update in todays mag:

NSB Retail Systems (NSB) 28.75p SELL

Chief executive Nikki Beckett sold 10 million shares at 31p, reducing her stake to 26 million. Fellow director Seale Moorer also sold 10 million shares. House broker Collins Stewart forecasts 1p EPS this year and 2p for 2005. We had projected 3p in 2004. Tipped at 25p on 29 January, the shares topped 37p and have fallen to the current 28.75p. We advise following the CEOs lead.