First Artist Corporation is only the 3rd company that I have created a thread for, following IDS & CCT. In the same vein, I see an emerging cash generative business, huge growth potential and a low forward PE.

First Artist has been transfomed over the last 12 months into a business which now consists of five balanced business areas; Marketing, Sport, Wealth Management, Events and Entertainment.

Previously the main income was from the football division with income created during transfer windows, since then it has diversified into a broader business providing wealth management to a portfolio of wealthy celebrities, corporate entertaining and marketing businesses and more importantly the acquisition of Dewynters & Newman Displays could be the major turning point providing access to the West End theatre and films markets. Dewynters is a brand in its own right and handles many productions each year including this year Grease and Lord of the Rings, both tipped to be very successful whilst Newman has recently handled films such as The Queen and Casino Royale.
Instantly cash generative and also with growth in USA this will prove to be an excellent acquisiation, providing large revenue and profit.
Income from football transfers should increase following the recent sums of money generated for Premiership football, Grease (like it or not!!!) and Lord of The Rings will be the stars for Dewynters in 2007 and the recent acquisition of Yell Communications for 1m will also add earnings for the event and delegate management business. First Artist is looking for additional benefits through each business "cross-selling" synergies and continues to look for growth through acquisition.

Forecast EPS of 15p for 2008 and current sp trades at forward PE 6 which is 3x lower than sector and you can see the potential. Brokers have recently issued a strong buy recommendation. One to consider for those investing in growth companies.

I'll have a butchers over the weekend Andy, just so you're not feeling lonley :)

pth

Pete, how u doing. I've returned to uncovering cash generative companies with growth potential and low forward PE's. Can take 12 months but worth it.
Nearly dabbled with VML again last week having been in last year but decided against it at 32p, glad I held back. Trying to decide if bottomed out now?
Still have some speculatives like CFU/PTR but looking now for companies like FAN & CCT to balance portfolio. I think FAN is a fast-developing growth company. The key is that FAN now has more than one string to its bow in some lucrative, cash generating markets. I expect to double my money on this within the year. May take full year results for market to fully wake up to transformation of FAN, that will be OK, time for me to buy more.

Recommended as BUY in yesterdays IC. Interest will build in this company and so will the share price.

Andy, the group certainly sound very positive about their future. Quite difficult to value the company with all these acquisitions which I guess still needed to bed in completely, will become even more difficult if they continue on the acquisition trail. Having said that good growth, increased turnover, increased profitability will eventually be reflected in the SP. On the watch list for now, but quite tempted. You do have a habit of picking growth stocks that no-one else is particularly interested in!

pth

If you can spot companies early on which are undervalued on potential future earnings it can prove very profitable as sooner or later the performance gets reflected in the sp. IDS was 3-4 bagger and so was CCT where I still hold my 40% of my holdings purchased @ <50p. Took some profit to buy FAN (and treat the missus) the rest are running free as further growth expected. If FAN delivers the earnings and profits growth then I expect people may become more interested.
Until such time, I'm happy to have built up a position in FAN.

Good steady buying again today.

AGM Statement, looking good with continued growth and low forward PE.


First Artist Corporation PLC
07 June 2007


AGM Statement

At today's Annual General Meeting of First Artist Corporation plc ('First
Artist' or 'the Group'), the integrated marketing, sport and entertainment
management group, Jon Smith, Chief Executive, will make the following statement:

'First Artist has made considerable progress over the past year in delivering on
its strategy of developing the Group into a broad based integrated marketing,
sport and entertainment management group. The acquisitions made last summer have
now been fully and successfully integrated and are contributing to the strong
performance of the Group. In particular, the acquisition of Dewynters has
significantly broadened the Group's business base. Dewynters is an iconic brand
in its own right, holding a dominant position in the UK theatre and
entertainment industry and with profitable operations in the USA.

In April 2007 the Group also acquired Yell Communications which specialises in
events and delegate management and will help the Group to further develop its
corporate events division, The Finishing Touch. We are also pleased to report
the launch of First Rights Limited, which will act on behalf of sponsorship
rights owners. This is a major area for potential growth and one that will
benefit greatly from being part of the enlarged and expanding group.

The Group is currently trading in line with management's expectations. In
particular, our Sport division has had a successful start to the summer football
trading window, including the transfers of Jonathan Woodgate to Middlesbrough
and Sulley Muntari to Portsmouth. The Sport division should also benefit from
the knock-on effect of the significantly increased TV rights monies, which
commence this summer.

Our event management business, The Finishing Touch, is trading exceptionally
well, having been boosted by the recovery of the corporate sector.

This last year has been the London West End's most successful, and with
Dewynters having a larger pipeline than ever before for shows planned in 2008,
prospects continue to be positive. Dewynters' US merchandising activities also
continue to produce strong results from its Las Vegas and New York operations.
In addition to Newman Displays' theatre front of house delivery, cinema
production work has also expanded further afield, with Newmans producing the
display for 'Transformers' at the recent Cannes Film Festival.

The Board remains optimistic about the Group's continued growth for the
remainder of the year and beyond.'

Good Trading Update

Trading Update

First Artist Corporation plc (AIM:FAN), the integrated marketing, sport and
entertainment management group, is pleased to announce that the group continues
to trade in line with management expectations. Particular success has been
achieved by the Group's event management business, The Finishing Touch, which
registered another record profits month in June, driven by continued strong
growth in corporate business and the recently acquired, and now fully
integrated, Yell Communications. Furthermore, the Group's financial advisory
division, Optimal Wealth Management also had a record trading month in June.

Dewynters, the Group's leading entertainment and theatre marketing agency,
continues to make a strong contribution to Group revenues with significant
recent marketing campaigns for hit West End musicals Joseph and The Amazing
Technicolor Dreamcoat and Grease. The quality of service offered by Dewynters
was also recognised through the award of Advertising Agency Production Team of
the Year 2007 at the recent Quality in Print and Media Awards.

Trading within Newman Displays, the cinema and theatre industry's leading front
of house and facia display manufacturing and design company, is very buoyant,
with recent high profile West End premier launches, including the films The
Simpson's, Shrek 3, Harry Potter and the Order of the Phoenix and Spiderman 3,
along with theatre production for Lord of the Rings.

First Artist Sport, the Group's global football player representation division,
is also performing well, helped by the increased revenue gained from the recent
renegotiated television rights contract. The division has completed a number of
high profile player transactions so far this summer including Jonathan Woodgate
from Real Madrid to Middlesbrough, Sully Muntari from Udinese to Portsmouth and
Julien Faubert from Bordeaux to West Ham, with a further number in the pipeline.

Issue of New Shares

First Artist's event management business, The Finishing Touch (Corporate Events)
Limited ("Finishing Touch"), has achieved the second set of financial
performance targets set out for the business under the terms of the acquisition
announced 14th September 2005.

As a result of the agreed performance targets for the year ended 30th April 2007
being exceeded, the second tranche of earn-out consideration has become payable
to the vendors of Finishing Touch. This consideration is to be satisfied by the
issue by the Group to the Finishing Touch vendors (in aggregate) of:

43,037 new ordinary shares of 2.5 pence each in the capital of the Group
("New Ordinary Shares") on the basis of an average mid-market price of 109.12
pence per share; and

430,374 of interest bearing unsecured loan notes, redeemable six months from
issue.

Application has therefore been made for the admission of the New Ordinary Shares
to trading on the AIM market of the London Stock Exchange. Upon issue, the New
Ordinary Shares will rank pari passu with the Group's existing Ordinary Shares.
It is expected that admission will become effective and that dealings in the New
Ordinary Shares will commence on 2nd August 2007 ("Admission"). Following
Admission, the Group will have in issue an aggregate of 13,108,836 Ordinary
Shares.


Jon Smith, Chief Executive of First Artist Corporation plc, said:


"We are delighted by the continued successful growth of The Finishing
Touch, which has triggered the earn-out consideration announced today. I am also
pleased to note that trade across the Group continues to be strong with two
divisions having record months in June. The evolution of the First Artist Group
as a world class provider of marketing, media and management services across the
entire entertainment spectrum is a compelling business model and is driving our
continued growth. For this reason I am extremely confident about the future for
the Group."