I have been a holder of this stock for the past 8 months and intent to hold for at least two years to gain the maximum CGT relief as its AIM listed.

I have topped up my holding recently as TPA looks well undervalued to me at the current price of 19.5p.

Reasons as follows:

2004 results (due in March) should show 85% growth on 2003 - EPS of 1.3p. This will give a historic PE of 15 at the current price.

Estimates for 2005 indicate a further 46% growth in earnings to 1.9p which could, IMO, be conservative considering the impact of the big contracts signed in 2004 are yet to fully kick in. The PE estimate is only 10.26 for 2005 - way too low IMO for a growth company.

2006 estimates are for 2.4p of EPS (PE 8.1) - this is why I am holding for at least 2 years - the shares should double to 40p if things stay on track and CGT will be only 5 or 10% with the taper relief.

The earnings have high visibility and should be rated as such - most contracts are signed for 3 or 5 years plus with a good chance of repeat business, contract extensions etc.

Strong cash generation paying off debt for aquisitions.

Contracts with big players such as Virgin, Matalan, BAA, BMI Healthcare and Dixons.

The technology division has the potential to significantly increase earnings which have not been considered in the earnings estimates.

TripleArc is now the 4th biggest print management provder in the UK and still growing - maybe takeover potential there.

Risks:

UK economy might go down hill adversely affecting TPA margins/contracts.
Shares are fairly illiquid and volatile.
Margins get squeezed.
Debt fairly high but being rapidly repaid.
Increased competition.

Overall I feel comfortable to hold a high percentage of my portfolio in this company - my two year timeframe should hopefully see the shares double in value baring unforseen disasters.

Website : http://www.triplearcplc.com/

Shareshark

Results are due out anytime now - if anyone is watching TPA now could be the time to buy in.

been on this one for ages.... and still waiting!

Prelim results will be out on Thurday 14th April for those with an interest - decided to buy a few more this morning as I think the market should be impressed going forward.

MM`s appear short of stock too today - on-line buy limits much lower than the sell limits - I have topped up at 20p today.

Excellent results - yes bang in line - confident outlook statement too.

Also ""The new business activity within AccessPlus remains high and the division is currently at preferred bidder
status with a large financial services business to provide a significant print management
contract. The Board expects to be able to confirm details of the contract soon"".

For comfortable holding TPA for the - if they remain oncourse for 1.9p EPS TPA is on a P/E of less than 10 for 2005 -
50% to cheap IMO.

http://www.uk-wire.com/cgi-bin/articles/200504140700100329L.html

SS

Looking through the results statement in more detail this is a significant section with regard to 2005 earnings:

"On an operational level the newly created division performed well and overall sales margins were ahead of initial expectations. However, the achievement of full-scale revenue generation on certain new contracts took longer than originally anticipated due to contract timing delays. Whilst these timing delays impacted on the 2004 financial performance, the Board fully expects the Group to generate the revenues anticipated from these contracts in the current financial year. It is in the nature of these contracts that they require significant management time to win and implement and can involve financial investment to set up. Typically there can be up to a six-month delay before they contribute to Group profitability. We therefore expect to see the full impact from these exciting contract wins during 2005".

This gives me plenty of confidence that Altiums forcast of 1.9p EPS will at least be acheived - possibly beaten as the revenue from Stream and other divisions look like contributing significantly to earnings.

The latest broker note will be interesting to see if they have upgraded.

SS

TPA is quite possibly a very good investment - although the debt will always drag it down a bit - it is very cash generative and they are paying off the debt. As it continues to grow the real value of this one will shine through.

This one gets an II thumbs up.

Topped up with a further 100k over the last few days - 17.5p looks very cheap too me.

It looks even better now. Well worth a punt at these levels.

Could it be the turning point?

The prices has improved all the time since reaching bottom at 7.625p earlier today
the lowest price was buys at 7.87p then 7.93 and later 8p, now 8.10p up to 100K
the sells 7.38p then 7.40 and 7.63 the latest 7.65p on 100K also

From another thread..........
Master RSI - 4 Jul'05 - 11:13 - 25 of 25 edit
UPS
TPA 7.75p
A warning last week that the full year 05 will be less than that reported in 04 .
The technology led print provider said trading in its division's retail has not improved .
The remainder of the group, including the recently acquired Stream
business, performed in line with management expectations.
Falling from 18p the selling is drying up.
Indicators well oversold

Charts - 10 days
edited by moneyam. Breach of copyright

going better today to a very tight spread 8 - 8.25p

The buyers got the upper hand with MM buying 250K at one stage.

offer should move higher tomorrow morning buys 900K sells 300K and 2X100K they are roll over

You think so ? Better get in early then.

See it's really on the up now.

Now thats what you call a Director BUY !

Time to make a decisive move forwards. Very few sellers out there.

Even cheaper now ! Maybe have to add some very soon.

Bloody hell ! Market cap at 14M with 48M turnover !!!! If the profit warning drops the TO to 35 it still has to be a screaming BUY.

Nice rise the last couple of days.

Interesting trades and a very nice rise. Maybe an indication that any overhang has now been cleared. looks cheap compaing market cap to turnover.

Good to see a sharp move higher today.

A great day for TPA and I expect a few more of these as we move closer to the figures being released. It has dropped from 17p to 7p following the profit warning which in reality was a bit overdone.