Many thanks to Driver for his heads-up!

Full-year 2006 results out today show MEA making a nice profit, EPS 2.66p, for a very cheap PE of just 6 at current offer price of 16p a share.

The company is showing evidence of even better growth for this year (FY 2007) - sales so far appear to be around double those of the same time last year.

The pipeline appears strong and acquisitions are also on the cards.


Here are the highlights from today's RNS:

Medsea Estates Group - Final Results

RNS Number:4762T
Medsea Estates Group PLC
22 March 2007


For immediate release 22 March 2007

MEDSEA ESTATES GROUP PLC
('Medsea or 'the Company')

RECORD RESULTS FOR THE YEAR TO
31ST DECEMBER 2006

Medsea Estates Group PLC, the AIM-listed Spanish-based estate agency group,
announces audited results for the year to 31 December 2006.

HIGHLIGHTS

*Record pre-tax profits of 2.9 million (2005: loss of 52,000)
*Turnover rose by 55% to 13.3 million (2005: 8.59 million)
*Progressive improvement throughout the year
*Earnings per share of 2.66p (2005: loss of 0.11p)

Tony Gatehouse, Chairman, commented: 'I am delighted with the progress Medsea
has made in 2006. The investments we made during 2005 to reinforce our
operations in Spain and expand into other territories have helped drive the
Group forward across a broad front and resulted in a substantial increase in
revenues and record profits.

'The Group performed well right across the board but without doubt Italy was the
jewel in the crown last year where we quickly exceeded our initial contract and
continue to perform strongly.

'The current year has started well and our forward bookings are up on last year.
The Board anticipates further organic growth and we believe that there are
opportunities to build on the foundations of our geographic spread. We have set
ourselves demanding targets and look forward to the coming year with optimism.'

Earnings per share for year amounted to 2.66p (2005: loss of 0.11p).

The Group performed well across the board but without doubt Italy was the jewel
in Medsea's crown last year. Our initial contract for 110 units per annum in
Calabria was quickly exceeded. Subsequently, our Italian partners increased the
minimum number of units to be sold by us to 250 per annum, also renewing our
exclusive international selling rights for a minimum of five years.

In 2006, Group sales totaled 1,086 units, and we continue to perform strongly.
In January and February of 2007 we sold 161 units compared to 83 in the previous
year.



And a chart (although it doesn't seem to show the latest prices):




Further Info online (kindly supplied by Driver):

http://www.medseaestates-ir.com/

http://www.realestatetv.tv/content/propertysale/euromed/euromed.php

(Sorry, I can't post active links right now as this iMac won't support pop-ups. Will try and amend when I get my PC connected to the internet!)

Tempted, ST & Driver, but the trading pattern today bothers me.
Any idea why the SP is doing a whores drawers on us?
Alan

Al, I don't have a clue why the SP has dropped like a good 'un - looking at the chart, it seems it's been a bit volatile ffor a while and just over two years ago it was around 90p. However, seeing what Northacre (NTA) has done recently, and having crunched a few numbers on this one, for me it seems like a screaming buy.

All IMO and I know you'll DYOR, but I feel confident of being on the right side of this one.

RNS from October 2006:

Medsea Estates Group - Property Development

RNS Number:0620L
Medsea Estates Group PLC
26 October 2006


For immediate release 26 October 2006


MEDSEA IN Euro120MILLION SPANISH PROPERTY DEVELOPMENT DEAL

Medsea Estates Group PLC, the leading Spanish-based estate agency, has just
signed a four year contract with Residencial Argos Sol, S.I to market all the
properties on a new Euro120million development in Murcia, Spain. AIM-listed Medsea,
which also owns ten percent of the developer, has sole selling rights for all
units, whose prices start at Euro99,000 and go up to Euro229,000 for the luxury
villas. Over the period of the contract the consortium believe they will
generate Euro35 million of profits of which approximately 10% will accrue to
Medsea.

Medsea's management also believe that in addition to the development income net
sales commission of circa Euro12 million will be made by Medsea over the period of
the contract.

The Residencial Argos Sol development, in the lakeside area of Cehegin, covers
325.083 sq m and comprises 830 units - ranging from apartments, town-houses,
semi-detached villas and an aparthotel/spa.

Cehegin is approximately 62km from the City of Murcia and linked directly to it
by a new motorway. The international airports of Alicante and Murcia are just
over an hour's drive away, as are a choice of beaches. As well as its large lake
(venue for the National Fishing Championship), the area is renowned for its
health-giving hot springs.

Medsea also made in an investment of 785.000Euro ( which equates to a holding of
13% in the development company holding the land and project) in the Frondoso
Valley in June 2004 at an initial land valuation of Euro24 million . After a recent
revaluation by Tinsa, the Spanish chartered surveyors, based on a revision of
planning consents allowing the developer to build 1066 houses the Land has been
re valued at Euro55 million.

Says Medsea's Chairman Tony Gatehouse: 'The Argos Sol project is a major
breakthrough for us, producing profits from two sources. As well as the
estimated Euro3.5 million profit we will make from our financial partnership with
the developer, we also anticipate generating a further Euro24 million through sales
commissions which translates to Euro12 million additional profit to Medsea after
paying agency commission over the next four years. This is excellent in terms of
Medsea's short to medium term prospects. We are also in early stage acquisition
talks with a number of targets. Potentially this will open up Cyprus, Turkey,
Dubai, Bulgaria, Portugal and South America, which will make Medsea much less
reliant on its current activities which focus on Spain and Italy.

Concurrent with this, we have also had our Fondoso Valley investment revalued.
In June 2004 we invested Euro785,000 at an initial valuation of Euro24 million. The
recent revaluation, based on revised planning consents allowing the developer to
build 1066 houses, now values it at Euro55 million. This puts Medsea in a very
healthy situation indeed.

'Argos Sol reflects the increasing demand we are finding from UK clients for
properties away from the traditional beach resorts. Cehigin is about 600 m above
sea level and has a dry mountainous climate, compared to the humidity found
along the coast. It is an old town with a population of 14,000, and comprises a
mix of medieval houses, churches and glorious architecture. It is surrounded by
valleys, mountains, reservoirs, forests and wildlife, yet with two international
airports only an hour away.

'The hot springs of nearby Archena already attract regular visitors and the
developer is in the process of building a luxury health spa with a clinic to
cater for them. Cehegin is an unspoiled area that is ideal both for residential
property and holiday homes.'

-ends-

Well that's the quickest 28% lose I have ever had also looks like a strong buy to me I might have to average down already soul did you buy in?

Driver, I did indeed get in just now, but just as the slide got underway, so paid a fairly acceptable 16.5p when I was expecting to pay 20.5!

The slide leaves me a bit stumped; maybe the MM has an overhang, given that the SP has been doing funny things for a while, but it seems to me to be good value.

I'm not in for a huge amount (yet), but the figures look pretty good, IMO.

Recovering again a little now: MEA Bid: 15p Offer: 18p Change: 3

Also just averaged down, I should have gone to work it would have been cheaper. Looks like a bargain at these prices.

There are dozens of companies with a far greater M/Cap and no profits at all MEA is well under valued IMO

Yep. Compare NTA if you want some encouragement. All this one needs is for people to start discovering it.

soul
Look at SEO and RETV M/Caps 40m and 23m with no profit at all in fact they keep loosing money.

Put these in the header please

http://www.medseaestates-ir.com/

http://www.realestatetv.tv/content/propertysale/euromed/euromed.php

Gaurdian

On Aim Medsea Estates, the Spanish-based estate agency group, was 5.5p better at 19p after it announced record annual profits of 2.9m, and said forward bookings were up on last year.

I'll probably watch this for the first half hour tomorrow and then dip my toe in.
Alan

Al
I think you should go in at 0800hrs they can't believe how cheap these are on the dark side. 3m profit and this to come.

'The Group performed well right across the board but without doubt Italy was the
jewel in the crown last year where we quickly exceeded our initial contract and
continue to perform strongly.

'The current year has started well and our forward bookings are up on last year.
The Board anticipates further organic growth and we believe that there are
opportunities to build on the foundations of our geographic spread. We have set
ourselves demanding targets and look forward to the coming year with optimism.'

Bought a very small slice of MEA (1500) at 17.63p on a whim in February last year, without properly researching!; apart from a few fleeting moments have never been in profit! Not an easy share to gauge, put in a nutshell I believe the Group's principal activity is arranging the sale of new residential properties in Southern Spain to the United Kingdom and Irish residents, but they are now expanding into other countries. The majority of clients are introduced via a network of United Kingdom and Irish property agents and commissions are payable to each agent on completion of a successful sale. In addition, the Group works as an estate agent, dealing in second hand or key-in-hand properties and receives a commission on properties sold.

From the accounts:- "During the year we further strengthened our management team with the appointment of Graham Jeffs as Finance Director and we continued to recruit key personnel
for our rapidly growing Italian operation."
It may be worth noting that there were 30 fewer employees in the last year than the year before and this may have contributed to the increase in profit.................or it may not!

I am not saying don't invest, just beware that the upside may not be as rapid or as great as you may hope for. I will not become mega rich from my holding but nevertheless I will probably keep the shares as a reminder of the day I did not do much research, and see what happens!

kim
"I will probably keep the shares as a reminder of the day I did not do much research"

Some times it doesnt pay to do to much research look at all the talking and rumours and research for SEO and look where that has got us minus 99% in some case's MEA have made nearly 3m profit fact with a small M/Cap fact and more to come fact, that's enough research for me.

Glad I slept on it.
I cannot argue with the sincerity of the posters on here or the quality of the information posted. Its there and it stacks up and I have loads of respect for those on this thread, but I have a nagging, uneasy feeling about this one.
I cannot put my finger on it, but something is screaming inside me to leave well alone.
I really do hope I'm wrong and this one rises faster than a monks whatsit at a lap dance, but I'm not taking the risk.
Best of luck to those who have bought in.
Alan

And there you go!!!
Up 1p and proved wrong already :-)
Alan

Morning all.

Driver, I have posted your links to the header. Thanks very much!

Medsea was commented upon in The Independent ttoday, in its daily round-up of major movers. The newspaper did comment on that the Spanish holiday property boom is showing signs of abating. MEA's comments yesterday, however, suggest that they are continuing to see growth, plus their plan of diversifying away from Spain into countries such as Italy means that they will be less dependent upon the popularity of one region.

Furthermore, as a fledgling company, MEA may still be able to grow profits in a declining/static market as it increases its share of that market.

Happy with this morning's rise as I am now past the point of break-even.

MEA Bid: 17p Offer: 20p Change: 2 Only 24K traded, though.

A little bit more and I will be in profit again. Who needs research I say: just been out to buy a parrot in a cage, he looks really good and I'm sure he's going to wake up in a minute!

Chuckle! Hello, Polly! Wakey-wakey!!