Worth doing a bit of research on this one. Growing like crazy and is still relatively cheap with a forward P/E of around 13 to the results this year and only 7 for next year.

Plenty of news flow to come and is moving up to the Aim market later this year.

Myhome is an international multi-product franchising company providing home
services such as residential cleaning, lawn care and kitchen and bathroom
resurfacing services. Originally developed by Unilever, the Company was
admitted to Ofex in January 2002. The following year the Company launched its
franchise programme and has identified as many as 300 potential franchise
territories within the UK. Myhome is a member of the British Franchise
Association.

The acquisition from Unilever provided the Company with extensive training
systems, bespoke scheduling and billing software and valuable marketing
materials. In addition it acquired Unilever's unique Tri-Colour Cleaning
system, an efficient home cleaning methodology that was the result of extensive
time-and-motion studies.

Nicenstripy is a South East-based franchise providing residential gardening
services throughout the year. Founded in 1996 Nicenstripy currently has 40
franchisees. Myhome acquired Nicenstripy in two tranches in December 2005 and
April 2006.

Surface Doctor provides a cost effective way to repair and refurbish kitchen
and bathroom surfaces as an alternative to the expense and disruption of
replacement. The system uses a proprietary bonding agent to restore and re-
colour kitchen cabinets, worktops, baths, sinks, tiles, and other surfaces.
Surface Doctor was acquired in February 2006.

Like Myhome, Nicenstripy and Surface Doctor are also associate members of the
British Franchise Association.

Ovenclean is a residential oven cleaning business with 167 franchisees. It
operates both in the UK and internationally. The Board believes that Ovenclean
will immediately benefit from the IT systems, group marketing efforts, and
cross-selling potential of Myhome.

Ovenclean has a database which exceeds 20,000 homes and presents a strong
opportunity to enhance customer spend with other Myhome service offerings. The
Ovenclean franchising business operates on a fixed management fee structure,
which guarantees income growth, irrespective of the underlying franchisees
performance.

www.myhomeplc.com
www.nicenstripy.com
www.surfacedoctor.com
www.ovenclean.com

DYOR.

Cheers GF.

From todays Independent...

No Pain No Gain: Myhome looks fit to clean up in domestic market
By Derek Pain

Published: 01 July 2006

Myhome International, the No Pain No Gain portfolio's one and only Ofex-traded constituent, continues to gladden this battered old share tipster. After a commendably cautious time getting its act together, it is now expanding rapidly and emerging as one of the country's biggest and most successful franchise operations.

This week, it announced its most significant deal yet - the 2.5m acquisition of Ovenclean, embracing a spread of 167 franchises and a very impressive profits record. To fund the cash deal - 1.75m down and the rest later - Myhome raised 2.2m through a share placing at 35p. For an Ofex company, it has already achieved a very strong City following that is underlined by over-subscription of the cash call.

The portfolio recruited the shares last year at 15.5p. They are now around 40p. I feel they have further to go and have no plans to lock in profits. But I should emphasise that Myhome is still a relatively small, still largely unproven company. In my view, it has considerable potential and a good infrastructure and management. But, at this stage, the shares are not for the proverbial widows and orphans.

Yet it would, on projected profits, be foolish to regard the shares as pricey. With Ovenclean on board, they would seem to be selling at just more than 13 times this year's earnings and seven times next year's.

Myhome, which has already declared its desire to quit the fringe Ofex market and moving up to the Alternative Investment Market (AIM), has been developed by chief executive Russell O'Connell. He merged his own home cleaning business with a highly researched and computerised rival created by Unilever.

The food-to-soap behemoth abandoned its home-cleaning enterprise during one of those purges that seem to afflict the rich and powerful. Still it allowed O'Connell to inherit an expensive IT system which has provided the back-up for Myhome's advance.

For a time, the company concentrated on domestic cleaning. It now has more than 50 cleaning franchises and, through Nicenstripy, a gardening franchise spread acquired earlier this year, another 42 operatives. Surface Doctor, a bathroom and kitchen refurbishment and repair system, is the baby of the trio.

Recently launched, it is still finding its feet and has just two outlets. The three are enjoying month-on-month growth. With Ovenclean, the group's franchise spread is not far short of 300. The rollout started only 18 months ago.

The expansion will continue. More businesses will be acquired. The group, currently capitalised at around 11m, has made it clear it expects to log on other activities to its computer infrastructure. Another deal is likely in the coming months. O'Connell has his sights set on creating, in the next few years, a multi-franchise conglomerate embracing 10 activities. Electricians and plumbers may be next to enrol.

Certainly Ovenclean, with some 20,000 mainly domestic customers, seems a bargain. Bryan Goozee, who started the business some 14 years ago, is retiring but the family link is preserved with his son, Anthony, who is chief executive. Profits were not far short of 600,000 last year.

As its franchisees pay a regular fixed fee irrespective of trading performance, its income flow is more predictable than the other Myhome divisions, which contribute royalties based on trading. Researcher Equity Development believes Ovenclean will increase its franchise chain to around 300 in the next few years.

Clearly, opportunities for cross-selling the various services have been increased by the acquisition. The deal will also re-enforce Myhome's international aspirations; they already touch Australia and Eire. Spain is now in its orbit.
cheers GF.

From Monisha at uq analyst .com

Myhome* announces third acquisition and raises 2.2 million

First home cleaning, then gardens, kitchen surfaces and now ovens. Myhome* has successfully announced its third earnings enhancing acquisition since December 2005 and the completion of an oversubscribed placing. The group set out to raise 2.2 million to fund the purchase of Ovenclean, a residential oven cleaning business bought for 1.75 million. Myhome is rapidly achieving its objective of becoming a multi-brand, multi product franchise platform across the country. The combined group now owns 250 franchisees with over 350 vehicles on the road.

Myhome operates four premium residential services brands - Myhome Clean, Nicenstripy, Surface Doctor and Ovenclean. The fourth and latest addition to the business, owns a franchise network of around 167 franchisees, entering nearly 20,000 homes. The acquisition is expected to be earnings enhancing in the first year. the result of this deal should be to increase earnings forecasts from 2.5p to 3p for the current year to September 30th 2006 and from 3.5p to 5.5p for September 2007. At 40p, our stance remains a buy.

Research from Equity development 29/6/2006.......

Myhome International acquisition of Ovenclean Ltd


Myhome has made further significant progress in the development of its multi-brand, multi-product strategy with the earnings-enhancing acquisition of Ovenclean Ltd, the third acquisition made by the company since December 2005. Ovenclean provides an oven cleaning service to upmarket homes, and currently has 167 franchisees with in excess of 20,000 customers between them and is still expanding: in the next financial year we estimate another 48 franchisees could be added. The Ovenclean franchising business operates on a fixed management fee structure, guaranteeing income growth, and the new customer base provides a significant cross-selling opportunity for other Myhome services.

The initial consideration of 1.75m will be funded from the 2.2m raised by the company in an oversubscribed placing of 6.3m new shares at 35p with institutional shareholders, and two further deferred payments of 375k will be paid within the next two years. The remaining funds will be put towards working capital and funding the costs of the planned move to AIM later this year.

Prior to a detailed review with management, we estimate that this acquisition will enhance earnings significantly in the current year to 30 September and on the new number of shares in issue we forecast EPS of 3.0p (compared to 2.5p without the Ovenclean acquisition), and 5.5p v 3.7p to September 2007, assuming a 30% tax rate.

Red Hot Penny Shares tip sheet reiterate their Buy this weekend. 100p short term target.

Moving up nicely this morning.

Goldfinger new to this game but learning fast, read lots about short/med/long term but what exactly is the timescale for each classification?

ta

Critch it really depends on which broker tipster as recommended the stock but in this case I beleive short term means up to a year.

I beleive 6 months would be more appropriate in the case of this stock as it moves over onto aim before the year is out and will be exposed to more institutions who will buy in big time.

It really does look like a fine growth stock.

Well worth reading the full broker report produced earlier this year, 11 page document.

I will try and find it and post it for you.

By the way RHPS says the company is moving into plumbing and carpet cleaning.

cheers GF.

Heres the broker report I was refering to, please remember its a little out of date and forecast are now higher.

http://www.equity-development.co.uk/client/view.php?docid=243&newsletterid=

cheers GF.

Thanks GF much appreciated.

Heres a bit of back ground on the nitty gritty of the business...

http://www.myhomeplc.com/images/papers/headers/franchise_magazine/advertorial3.jpg

cheers Gf.

lol GF your distracting me from my work lol. Infact good idea is scorching and im in an office. Certainly worth investing i fancy waiting for a blip tho, do you envisage one in the near future?

Many thanks

Critchy,You cant really tell with the markets having been so volatile of late in general but this doesnt seem to affect the Ofex market like the major markets.

I personally think that there is much more news flow to come from this one over the next 6 month so you could miss the boat eg, trading updates abroad could be very much on the horizon.

Im personally adding all the way up to hopefully 70p over the next few months. In fact I might be adding a few more in the next couple of days if MMG go on a spurt and I can flog a few of my cheapo tranches.

cheers GF.

cheers GF.

Yes ive been desperate to lop COP myself its going nowhere the now eversince the Iraq thing simply died of being over ramped. Thanks for your help and knowledge its much appreciated.

Kind Regards

No problems Critchey, Ive been in this business now for 23 years and I used to get help at the beginning. Im now just short of 40 but I still beleive theres plenty to learn.

In fact in this business its an ongoing thing and I notice you say you are fairly new.

I would advise you to learn as much as possible from the Greats of the past.

Read as many best sellers as possible. ' One Foot Up On Wall Street' is a stonking read from probably the best fund manager in history. (forgotten his name now, although hes a genious and the book is only about a tenner)

Also Warren Buffet is a good read but he can get a bit boring.

Charts yes get to know them but dont for gods sake rely on them like some do. Theres a differencwe between price and value.

Cheers GF.

No problems Critchey, Ive been in this business now for 23 years and I used to get help at the beginning. Im now just short of 40 but I still beleive theres plenty to learn.

In fact in this business its an ongoing thing and I notice you say you are fairly new.

I would advise you to learn as much as possible from the Greats of the past.

Read as many best sellers as possible. ' One Foot Up On Wall Street' is a stonking read from probably the best fund manager in history. (forgotten his name now, although hes a genious and the book is only about a tenner)

Also Warren Buffet is a good read but he can get a bit boring.

Charts yes get to know them but dont for gods sake rely on them like some do. Theres a differencwe between price and value.

Cheers GF.

Have to say I just love this stock It reminds me of when I piled into Sporting Bet at 7p a share(on Ofex) and added all the way up to 19.5p and I havent sold one........NICE.

I beleive long term this one will be even better.

very very bullish on this one.

Looks like all buys to me today. One big purchase and we could be through 50p.

GF thanks for the book advice i am currently reading one by Peter Bernstein- Against the Gods- the remarkable story of risk -i suggest you read it if you havent already, although not on shares it has allowed me to define my risk profile and is also a great read.

Im struggling to generate target prices for things, i dont want to be too greedy then again i want as close to the maximum upside as i can so where will MYH be in a years time and do you have any targets or milestones for this? Im quite happy to take 100% and run to clear some of my debts!!!

PS you have an e-mail

Critchy, click on my envelope at the side of my name, you can send me a private message there. Make sure yours is activated though to receive a reply.

Never really go for this price targeting thing as Im usually a long termer and as long as the stock remains cheap (and a trend moving up) ie, a reasonable P/E ratio I remain with it no matter what the SP on the market as at some time a re rating would occur if the stock was too cheap.

Im not a big TA fan where they normally just look at the ongoing price and take no account as to wether the stock represents good value.

cheers GF.