i was wondering if anyone out there had any strong views? this company appears to be delivering and has just turned EBITA positive after a great trading statement last week. seems like upside to +200p once results are out.

any comments or thoughts would be appreciated.

Well a few seemed to like 101. Price does seem to have been marked down over a few days on low volumes. I guess there will be plenty looking at tomorrows numbers. Here's to tomorrow, an early start then!

you bet....speak then

results look pretty good to me. delivered on EBITA promises and still have the EBIT outlook and levels of cash in place. lets see how they open...

Decent numbers, revenues up 24%, margins strong at 53%, positive EBITDA of 8.9m.

Financial Highlights:

Revenue up 24% to 144.1 million (2003 116.0 million);

Gross margins continue to be strong at 53% (2003 51%);

Positive EBITDA* of 8.9 million compared to a loss of 5.7 million in
2003;

Operating loss for the Group declined to 13.9 million (2003 loss of
15.1 million);

Europe turned EBITDA* positive and generated 0.4 million of EBITDA*
for the year (2003 loss of 5.9 million);

UK operations generated 3.2 million of EBIT* (2003 loss of 3.0
million);

Strong cash balance of 40.3 million (H1 2004 40.1 million).

On track to turn cash flow positive during the second quarter of 2005
and to turn EBIT positive by the end of the year.

Easynet turns the corner
MoneyAM
Easynet Group, the broadband network provider, said it expects to turn cash flow positive by the second quarter of 2005.

The group also expects to be EBIT positive by the year-end after it announced an EBITDA profit for the year to December 2004.

EBITDA amounted to 8.9m last year, up from a loss of 5.7m in 2003. Revenue grew by 24% to 144.1m and gross margins rose to 53% from 51%.

The operating loss narrowed to 13.9m from 15.1m.

The group achieved a profit at the EBIT level in the UK; profits totalled 3.2m compared with a loss of 3m in 2003.

Cash at the end of 2004 stood at 40.3m.

Easynet said it is well positioned to benefit from the rapid uptake in broadband and IP access and services.

'We have started 2005 encouragingly with a number of important customer wins,' said chairman David Rowe.

'We are encouraged by the prospects for both wholesale and consumer next generation LLU-based broadband products and will continue to evaluate prospects in this area. Overall, we are confident of continuing to make good progress despite the anticipated declines in narrowband revenue. The board looks forward to 2005 with confidence,' he added.

so why the 5% drop?

early days....mkt being tested. may stay there but could rebound. not the price action i was expecting to say the least....

Just had some more, gift horses and all that.

The management are delivering and confident, say no more.

capa

The drop and selling seems to be an over-reaction to me.

rallying

An analyst presentation at 11.0am. will hopefully produce a more positive reaction

wow, there must be something HUGE we are missing here. great in line results but stock falling on a sword. any ideas??? lets get some feedback from this meeting

Certainly was not expecting this fall. Seems to be plenty of buyers around at this level though.

Anyone heard anything about the analysts meeting? Seems to be moving up a touch.

listened to the analyst presentation (on www.easynet.co.uk). sounds good to me, not Q&A though. stick with this. difficult i know but i think the small intra day rally has to be a good think...i hope!

Had a look on the website, couldnt find the analysts presentation for these results, only a download PDF for the interims.

Well then.

What happened here then??

I thought profit taking till I saw trhe trades now I think ESY may have had a knock on from Colt perhaps.

In any event from here, if she goes down, not the former, if she goes up, not the latter.

Sooner, latter, pitter, patter, mouse below the stairs.

gavdfc..it is under the pdf report on the site on the left hand side of the home page...

SWW - not a great day. colt was up most of the day as well which didn't help. MM shenanegans but quite painful. thankfully the rest of my portfolio rallied yesterday

dog with fleas right now.

i am totally baffled by this share....is my all time nemesis. i see the value but it acts like a dog.

this could be 60p or 300p in 6 months....a really wierd one.

anyone hearing anything?

Not heard anything as such to cause this recent drop. No new brokers notes out as far as I can see. Perhaps the market was expecting more in the way of new contract news or takeover talk after the results. Has not happened so far so maybe just some getting out. Still an interesting play over the year IMO.