Why are we again at 10.5p bid?

It doesn't add up...

Good Results + Strong buying pre results + Christmas online buying soon = Price drop

Then again some companies that have debt for equity hanging in the balance, poor results and bankruptcy around the corner and they go up!

Why sell now at a loss?

Wont that be a kick in the teeth when we see 13.5p 14p again!

Best of luck all.

I think you'll find that at least one is not a buy but a broker to broker to fill one of the buys - there may have been 1m or 1.5m bought

Personally think we will see continued volatility if the mms are still filling large orders - is this GS still accumulating and if so - who for?

0n this volume yesterday we were down a lot more than the 0.25p rise today ;o\
still blue is nice!!!!

Douggie - and getting more blue by the minute :-)))

Walktall
thanks for directing me to the tipsheet thread-very useful info

Glad to help.

WT.

great report on RTD over on ADVFN free BB worth a read

And for those of you watching (curteousy of advfn's ST and Intek) in black and white...

"SCSW article (Dec 2004)
-----------------------
Despite being a relatively tiny company, with a market capitalisation of 74m. Retail Decisions is already a market leader in the card fraud prevention market. It has key products for screening card transactions, both offline and online, in order to detect attempted fraud.

Two key trends are helping the demand for the service. First is the fact that under current credit card terms, if a card is not present in a transaction (for instance, a web purchase) retailers are liable for chargebacks as well as penalties if the card proves to be stolen.

Meanwhile Retail Decisions' clever algorithms also ensure fewer genuine transactions are declined in error which improves revenues for retailers.

With fees payable per transaction for these services the latest third quarter experienced a particularly high volume of transactions and profit forecasts being upgraded.

Profit progress since 2000
--------------------------
Retail Decisions was formed through the merger of two quoted companies, Card Cast and Card Clear in 1996. As old timers might recall, the merger proved an extraordinary can of worms before the various card related parts were demerged into a separate company in 2000 and this has been the genesis for what has subsequently been named Retail Decisions.

At that time, Retail Decisions had a highly profitable fuel cards business. Based in Australia, this remains a classic steady-as-she-goes type of business which is relatively mature. The other side of the group originally focused on transmitting lists of lost or stolen cards to retailers and the prevention of fraud on telephone calls made with credit cards. But since 2000, the emphasis has increasingly shifted to a card not present (CNP) fraud transaction service for online retailers and telcos.

International footprint
-----------------------
Unlike the competition, most of which is North American (Cube Source, Verisign, Clearcommerce, Authorize.net), Retail Decisions is an intemational business with operations in the UK, US, Australia and South Africa. It also has partner offices in Japan and South America. Unlike the others, it is profitable and has been growing its profit since 2000 from
just over 1m to 5.8m.

ln the six months of this year to 30 June, sales were up 9Vo to 15.4m and pretax profit rose 2Ovo to 3.4m. Margins lifted from lg?c to 23Vc. The business is also proving very cash generative. In those months, it generated cash of l.5m leaving net cash of 3.9m at the period end.

Since those results were announced, Retail Decisions has announced that current trading is significantly ahead of expecrations. In the light of that statement, broker Oriel has upgraded its targets for the second time this year. They now forecast f6.8m pretax for eps of 1.62p. with 7.3m and 1.74p the following year. Both seem to be erring on the low side.

Australian activities
---------------------
Over the month, we met with Carl Clump, chief executive, who echoes that all sides of the group continue to fare well.
The original business service, providing branded fuel cards, remains healthy and well. In the latest six months, this accounted for 457a of the group revenues and SOVa of the profit.

The business supplies corporate purchasing cards under the brands, Motorpass and MotorCharge. It supplies these to fleet
managers who will supply the cards to their drivers to enable them to pay for fuel at any one of 6,600 fuel stations in Australia with the company billed directly for the fuel.

Retail Decisions is the largest multibranded operator (in other words, drivers can use the card in more than one oil company's filling stations) and the higher number of available outlets where they can be used makes the cards attractive, especially as the number of fuel stations is decreasing overall.

The cards carry point-of-sale restrictions on their use which means that drivers can only use them to pay for fuel and for corporates, they are a preferred method of payment compared to cash or credit cards. Fleet owners are allowed to build a balance over 3O days with 14 days to settle the due amount although this may sometimes vary.

Retail Decisions earns its income from a mixture of card issuing fees, monthly fees, commissions from each transaction as well as late payment charges.

70r(XX) small fleet customers

It currently has 70,000 small fleet customers with the number of cards growing by 5Vc last year to 200.fi)0. One of the attractive aspects of the business is this wide spread of customers, The average number of cars in a fleet is just three. Larger fleet owners usually negotiate directly with the petrol retailers whilst smaller fleets are also less price sensitive. Bad debts are low.

Currently. Retail Decisions is experiencing very good trading in Ausralia. This is a Combination of growing its sales of newly issued cards (August was a record month) and windfall profits from higher levels of fuel prices.

Payment processing & fraud prevention
-------------------------------------
The new lease of life enjoyed by the branded fuel cards business is happening at a crucial juncture for the other two sides of its operations.

The smaller one comprises a consulting service in the US to assist retailers with the design and integration of their transaction systems. This operates with ten consultants and accounts for 57c of group sales but washes its face in terms of
costs.

The far more interesting side is the payment processing & fraud prevention. In the latest six months, this accounted for 50% of safes and 20Vo of profits. At the heart of these operations are Retail Decisions' services enabling retailers to authenticate and settle debit and credit card payments. Retailers pay on a per-transaction basis which varies according
to volumes and level of service, from a few cents through to 20 cents for a more sophisticated service.

The obvious problem retailers face is embarrassing genuine customers by generating requests for information and rejecting
valid transactions whilst at the same time trying to prevent losses and chargebacks.

Unfair for retailers
--------------------
Under the current card authority agreements retailers who conduct CNP transactions bear the brunt of fraud in so far that the bank that issued the card is entitled to rverse a previously authorised transaction if it determines the card was
stolen at the time it was used.

In terms of facilitating its fraud prevention service, Retail Decisions therefore manages a hot card database of lost and stolen cards which is updated by using data supplied by the banks.

The screening database also contains millions of dynamically updated records of fraud and chargebacks enabling it to screen out transactions on known fraudulent cards, dispute prone shoppers, known fraudulent phone numbers as well as problematic computer Ip addresses. It has also developed sophisticated neural algorithms to determine if a card may be stolen but as yet unreported or if it has been cloned (for instance, if the card is being used in two locations at the same time).

Retail Decisions has found that there is another powerful motivating factor for retailers to avail of its service. Retailers are keen to reduce the level of genuine transactions being rejected by mistake so that their revenues are
improved. For instance, Clump points out that its 16 year experience of card fraud prevention enabled it to help electrical retailer Comet to approve transactions that were previously being rejected by in-house systems. The tangible difference of just a few additional transactions being approved makes this service, known as ebitGuard, a must-have.

Mobile sector growth
--------------------
Whilst online sales ii onc growing -u arca most of the activity is currently in the mobile space. Clump points out how mobile phone operator O2 has cut levels of fraud for pre-pay mobile phone top-ups on the web and telephone using his services. Retail Decisions'ZBR product, for instance, actually prevents fraudulent calls from being completed by checking against previous levels of fraudulent activity.

For instance, examining the called-from and called-to numbers. Clump points out that when 02 blocked this opportunity, scamsters migrated to other mobile networks which gave Retail Decisions the opportunity to sell a similar service to T-Mobile, Virgin Mobile and Tesco.

Proxy for growth
----------------
Growth of its customers' transactional volumes is clearly a proxy for Retail Decisions' own growth. Aside from the new mobile phone companies, Clump points out that other recent contracts signed in the first six months were Travelocity.com and Odimo (largest online jeweller).

Growing denand for CNP processing
---------------------------------
Overall, in the first six months, the fraud prevention and payment processing division grew its revenue by lOVc and operating profit by 47o. Within this the CN p element grew its sales by 22%, compared to 4ol: for point-of-sale card
holder present transactions.

Investors might therefore worry about why the explosive growth from processing CNP transactions and the rapid increase in new customer wins hasn't immediately resulted in faster sales and profit growth. But that's the opportunity and is why the shares were marooned at the 20p level until earlier this month.

Much of this holding back of revenue and profit has to do with some historically large contracts for card present ransactions with the banking community (APACS) coming to an end and distorting the numbers. The income from these contracts has declined each year since 2002 when it was f3m of revenues to f2m last year and will be l.4m this year.

Beautifully scalable business
-----------------------------
But going forward, very significant in terms of improving quality of earnings is that all new CNP contracts are related to transaction volumes and are not on a fixed price basis. What is equally attractive is that the technology is also fully scalable, with the current infrastructure capacity able to handle greater volumes with little incremental cost. This was already evident at the first half stage when a 0.7m rise in CNP sales gave rise to a 0.5m increase in CNP operating profit - so clearly investors are set for a bonanza.

Meanwhile, the business has started to generate free cash, probably 7m this year, enabling Retail Decisions to think about buying weaker competitors. But even without a deal Clump points out that in the last l g months he has managed to win work including five major clients from Cybersource, a US competitor.

On 13 August, according to Clump this irritation led to the launch of Cybersource's claim over patent infringement relating to ebitcuard. But prior art exists which suggests Cybersource's patent should not have been granted in the first place and the claim therefore looks invalid. Even so, Retail Decisions will provide 0.5m in this year's accounts to cover its costs.

The shares appear attractive compared to the US counterparts. Buy."

Looking good!

morning and thanks overgrowth

Morning douggie - what no smile today?

Still good volume despite the xmas factor and a bit of blue to boot.

Looking forward to the new year with anticipation - a good set of results promised and likely inclusion to the TM100 - Warner Chilcott shares are being delisted on Jan 6th so 1 spot is up for grabs - RTD currently has the highest mkt cap of the liquid companies not currently in the index from my calcs.

Be nice to see further institutional interest and some new contracts (may have to wait for the results for these) - please santa!!!!

Hope all RTDers have a great xmas

ooops :o)

How about a nice long holiday now Douggie? Have a good Xmas where ever you are. (As Uncle Mac would have said.)

Cheers Fred will have to make do with Christmas in a foreign county Lancs.

pleasantly pleased with sp,today 30p+ for Christmas will be nice for all, am looking foreward to 1st 3 months new year, should be interesting /rewarding....inspite of me surely even I can't adversly affect it now will keep low profile to be on safe side.

A Happy Christmas and A Prosprous New Year to all posters here who have kept the bb alive, and positive many thanks....... Doug

:o)))))))

Douggie. When you have a holiday you make money. When i have a five day break in a motorhome I drop over 10grand and I'm trying to save money. Anyway I hope you and everybody have a good holiday and pass on you winning techniques. I think I need a little more help or less days off. C'est la vie.

Fred I wish it were true the opposite is the case! :-[

all the best next year will be as good as this ...without the traumor I hope ;o\

;o))

Nice to see goldman sachs have snapped up another 2m and now have 12m (approx 4.1%). Get the feeling on the pattern of trades there not finished yet either

A Prosprous New Year to All RTD Holders if this is 1/2 as good as we all believe it will be we are in for a good year!

:o))))....Hoooooooorayyyyy for everyone, and I havn't had a drink yet

I emailed FTSE this am re: the Warner Chilcott situation this am - this is the response i have just received:

Many thanks for your e-mail.

There will be a technical notice regarding Warner Chilcott later on today. I
will send you further information as soon as the technical notice is
available.

If you need any further assistance, please do not hesitate to contact me.

Regards,

Nicole Weiner
Client Services, FTSE
Tel: + 44 (0) 20 74481810
Fax: + 44 (0) 20 7448 1804
Please visit www.ftse.com
Opening hours for FTSE Client Services, Europe are 08:00 - 18:00hrs (UK
Time)

Just for clarification - i have rerun the TM100 mkt caps - of those not in the list currently the highest 4 are as follows:


VTH Vtech Holdings 160.3m
CRP Cryptologic 156.8m
RTD Retail Decisions 82.8m
CVA Ceva 79.5m


Baltimore are due to be delisted, Vtech and Cryptologic are both deemed illiquid which leaves RTD as the first placed candidate - i will be very surprised if RTD do not replace WRCX in the announcement later today

Well -WRCX are to be replaced by phoenix it (pnx).

Ian T

I ran stockscreener this am to assess which of the techmark all share stocks would be admitted to the techmark 100 on WRCX delisting using the index membership filter . PNT did not show up as a techmark allshare security yet they are the company being admitted. I have subsequently checked the list i ran and only 93 of the current 100 TM100 shares are classified as Techmark shares - this info is obviously not accurate/up to date - is it just this filter or does it apply to others on the stock screener. This concerns me as i use this info to help determine likely entrants to indexes and i now have no faith in the info that stock screener provides

Thanks Fund. ............. :-/ lots more waiting and hopeing.. ;o\

Douggie

Just frustrating that i spent a lot of time re-doing the calcs to reassure myself only to find out that the info i was using was inaccurate - just glad i didnt top up on the back of my calcs (i nearly did)