This was mentioned in Shares Mag of 23rd Nov 2006 as a recovery stock.

Then the price was around 37p. It has since shot up 50% in one week to 56p offer today.

Management has grabbed the company's problems by the scruff of the neck and look capable of delivering a similar turnaround to the one that occurred over the last 5 years.

In the year ending 31 July 2005 the company made 3 million post-tax. If they can do that again then they should make EPS of 14p, so a share price of anything from 100 - 140p ought to be on the cards. 180p ought not to be out of the question.

PDR is continuing to acquire profitable businesses and their recent acquisition, Oriflame, has been earnings-enhancing from the off.

Prospects for the forthcoming year look good, IMO. I already wanted to buy at 40p, but got distracted. However, I have taken a stake today at 56p.

All IMO, PDYOR.






EDIT: RNS of 15 Dec 2006 announces that trading for the first quarter of the new financial year, being 01 Aug - 31 Oct 2006, is profitable and that Oriflame is contributing profitably.

Um !
What could they know !

I suspect they know what we know - that this co is a fantastic investment for those who get in soon enough!

Here we go:

Premier Direct Grp - Trading Update
RNS Number:0720Q
Premier Direct Group PLC
24 January 2007


PREMIER DIRECT GROUP PLC


Premier Direct Group Plc, the leading nationwide shopping-at-work provider,
today gives an update on trading prior to the half-year end on 31 January 2007.


The directors anticipate that in the first six months of the new financial year,
Group sales of approximately 12.5 million will generate pre tax profits in the
region of 0.7 million before charging goodwill amortisation. Both the core
shopping-at-work and Oriflame cosmetics businesses contributed to profit. This
return to profits follows the loss-making period experienced by the Group in the
second half of the year to 31 July 2006.


The Group has reduced indebtedness from 6.6 million at 31 July 2006 to 5.3
million at 31 December 2006. The Group has generated free cash flow from
operating activities of 1.3 million up to 31 December 2006, thereby
significantly strengthening the balance sheet.


The core shopping-at-work business continues to make steady progress. The
distributor network has grown from 488 distributors at 31 July 2006 to 525 at 31
December 2006.


With the exception of Oriflame's small administration centre in Milton Keynes,
the Group is now operating exclusively from its South Shields warehouse. The
operational restructuring, which was completed at the end of December 2006, will
result in reduced overhead costs in the second half of the year.


The directors will continue to implement the strategy set out in the 2006 Annual
Report and remain cautiously optimistic about the Group's future prospects. The
interim results will be announced on Wednesday, 28 March 2007.

I wonder if they'll break even on the half after deducting goodwill charges. Last year these amounted to 1,634,000 for the full year.

They should also manage to reduce interest payments by around 100k for the full year, which is nice. EDIT They've also managed to reduce overheads due to cost-cutting measures implemented in H1, the benefits of which will be felt in the current half.

Any other views?

Only 10,000 shares traded today though.

Looks pretty good without being bullish (!)
I would like to see a little more detail on possible recruitment drives among distributors as this is the real key to growth. Economies of scale and increased turnover etc.
Until they can show me that I will keep this as an interesting and profitable distraction from my main portfolio, though it has made me a very tidy sum so far and I am very happy.
Alan

Agreed re the distributors, Al. Hopefully they have managed to turn the tide of disgruntled distributors leaving.

Things look fairly positive, but there's certainly little room for errors.

Certainly looking very promising, yet apart from Nobel and we few, nobody seems to have noticed. On a busy day in the market everywhere else, the volumes are still below 10% of the monthly average.
sd.

Squidd, I think in part that the SP was already pretty much in line with today's news; I wouldn't have expected a huge jump in the share price as the RNS was reassuring rather than spectacular. However, there ought to be more SP growth to come.

But it could be good that we're among the few at present - wait for the bang when the world does sit up and take notice.

WDIK, etc, etc.

A bit of a skid today: PDR Bid: 55p Offer: 59p Change: -6.5

but it looks like it could be due to some manipulation by the MM's to get the 54k trade filled:

Time Price Quantity Type Bid Offer Buy/Sell Total Buy Total Sell Total Unknown
13/02/07 09:03 55.5 5,000 O 55.0 59.0 Sell 766 31,597 0
13/02/07 08:59 56.0 7,597 O 56.0 60.0 Sell 766 26,597 0
13/02/07 08:57 56.0 3,000 O 56.0 60.0 Sell 766 19,000 0
13/02/07 08:55 57.0 6,000 O 57.0 61.0 Sell 766 16,000 0
13/02/07 08:54 59.0 10,000 O 60.0 63.0 Sell 766 10,000 0
13/02/07 08:50 60.0 54,000 O 55.0 59.0 Buy 54,766 31,597 0
13/02/07 08:10 63.8 766 O 61.0 65.0 Buy 766 0 0


If I get the trades to display as a "live stream" rather than latest first, the 54k trade comes out on top, making me wonder if it's the cause of the malarkey due to a combination of the aforementioned manipulation plus late reporting of a larger deal.

Still, WDIK.

Up today, only 10K traded: PDR Bid: 53p Offer: 55p Change: 1.5

Results due on Wed 28th March.

Another tick up again today: PDR Bid: 53p Offer: 57p Change: 1 Only 17,000 traded.

Up again today. 20K traded. PDR Bid: 54p Offer: 57p Change: 0.5

Results due tomorrow.

Looking forward to them.
Hope I am not dissappointed.
Alan

You and me both, Alan!

Premier Direct Grp - Interim Results

RNS Number:8357T
Premier Direct Group PLC
28 March 2007


PREMIER DIRECT GROUP PLC

Interim Results for the six month period ended 31 January 2007


Premier Direct Group Plc ('PDG' or 'the Group'), the national shopping-at-work
company based in Newcastle, today announces its interim results.

KEY POINTS

6 months to 6 months to Year to
31 January 31 January 31 July
2007 2006 2006

Turnover 12.5m 15.6m 23.1m

Operating profit before charging
exceptional items & goodwill
amortisation 1.0m 3.2m 2.2m

Operating profit / (loss) 0.8m 2.6m (3.6m)

Profit / (loss) on ordinary
activities before taxation and
before charging goodwill
amortisation 0.7m 2.6m (2.5m)

Profit / (loss) before taxation 0.5m 2.4m (4.1m)

Earnings / (loss) per share 1.6p 7.6p (14.0p)


* Considerably improved profit performance after losses in H2 2006

* Overheads in core business reduced significantly and now a single site
operation

* Debt reduced by 1.6 million to 5.0 million at 31 January 2007 (31
July 2006: 6.6 million)

* All divisions trading in line with expectations

* Oriflame shopping-at-work launched

Commenting, Eric McClenaghan, Chief Executive, said:

'We are pleased to confirm that the core shopping-at-work business and the
Oriflame cosmetics business are continuing to trade in line with our
expectations. The restructuring of our overhead base and operational structure
have proved to be highly beneficial and have established a strong foundation to
build upon.'

Annualised EPS should be at least 3.2p. At current offer price of 57p, that's PE 17.8, that's fairly toppy.

Depends on what the prospects for the next half look like.

Of course, if they beat current profits then the rating drops off and the stock starts looking cheaper. I may keep the faith for a while and see what happens.

Not massively impressed, but if we accept that losses did not finish on the last day of H2 and profits start on the first day of H1, we must assume that there is a rising trend, so 17.8 times does not seem too toppy.
Staying in because downside looks very minimal.
Alan

Agreed.