One of those type of business which make me personally cringe, well it would if I was an employee, but the fact is that this business in the support services helps companys and organisations get the very best out of his main assets, thats the people working for them.

Heres a run down on just what it does and the differing divisions it as.

The Group is one of the leading performance improvement businesses in the UK
with over 16 years' experience in delivering incentive and motivation programmes
to clients. These programmes focus on the rewarding of employees, distributors
and customers. The Group has three operating divisions: Motivation and
Incentives, Incentive Travel and Live Events and Sales Promotion and Employee
Benefits.



The Motivation and Incentives division has made further investment in both sales
and product development to take advantage of the increasing recognition by UK
companies of the need to find new and innovative ways of motivating employees.
Existing technology platforms (rewardbanking.com, rewardvouchers.com and
recogniseme.com) have been built on with the introduction of 'Spree' a pre-paid
incentive Visa card. This has resulted in a significant upturn in new business
activity and strong prospects for 2007.



The Incentive Travel and Live Events division has continued to demonstrate
sustained growth and has seen a 44% increase in new business opportunities, with
win ratios continuing to remain at the normal levels. Archer Young, acquired in
2005, continues to make good progress, making a contribution to Group profits
and fully justifying the investment. I am pleased to report good forward
visibility for further growth in 2007.



The Sales Promotion and Employee Benefits division has again performed well.
The annual contract renewal cycle for our 'Lifestyle' product has to date
resulted in a 99% repeat purchase pattern, demonstrating the value of the
offering and indicating an excellent future revenue stream.



The Employee Benefits division had made a considerable investment in developing
and marketing a Home Computer Initiative (HCI) benefits programme and had won
contracts from a number of public and private sector organisations. However,
the Chancellor announced in the April 2006 Budget, with only 3 weeks notice,
that this tax benefit was withdrawn and, despite significant lobbying by the HCI
industry, this status remains. We have absorbed all abortive costs in the first
half and there has been a short term impact. However, we continue to work with
many of the clients, who have appreciated our efforts on their behalf, to
provide them with alternative programmes with the result that revenue prospects
and further new and exciting product offers have been developed.ENDS.

Looking at the financials I find that the company is capitalised at 25 million, Its price to /book ratio is 4, and it is trading on a forward P/E to Dec 2007 of just 11.4 has a peg of 0.8 and the company is eyeing up earning enhancing acquisitions.

Well worth a further look as I beleive it will offer much further upside.

DYOR.

Looking rather positive again.

still not spent any money on acquisitions and sat on cash.

What news GF?

Plenty to come M.

Patience needed for the rewards.

Looks interesting...

Motivcom launches Greentravel2workTM scheme for employees to cut travel cost
AFX


LONDON (Thomson Financial) - Motivcom PLC, a marketing services provider, said it has launched a new tax free bus travel scheme which will help reduce company travel costs and promote a cleaner environment.

The company said the Greentravel2workTM scheme allows a company's employees an option to choose an annual bus pass and pay for it monthly through their salary. In addition, the payment will be exempt from income tax offering savings of up to 41 pct for the employees and up to 12.8 pct on national insurance for employers.

Many local authorities, major public and private sector employers have already confirmed interest and are working with Motivcom to develop schemes for their staff, the company said.





TFN.newsdesk@thomson.com

vsr/ejb

Nice one gf..

Yep mitzy, lets hope the market reads it that way.

PRO REFERENDUM MARCH AND RALLY
LONDON
SATURDAY 27TH OCTOBER

WWW.PRA.UK.COM

a see of red and it holds firm

the brokers must have customers to soak it up

time for another slug?

6 months interims
Gross profit increased by 11%
Operating profit increased by 26%
Profit before tax increased by 31%
Basic earnings per share increased by 35%
Interim dividend increased by 43%
Continuing successful new product development
Positive outlook

Very solid. Ready for breakout?
Anyone still in?

Yep still in.

Nice reco from GCI....

MotivCom - BUY
Companies: MCM
18/10/2007

Having long promised a sizeable acquisition to add value for investors, staff motivation specialist MotivCom has finally delivered with a 15m deal.

The proposed target is Derby-based Zibrant, a provider of venue finding, event management and motivation services to an impressive list of clients. The cash and shares deal is being partly funded by a 3.1m placing priced at 130p.

Like its acquirer, Zibrant has been on a buy-and-build spree in recent years and lifted operating profits 14% to 1.4m on 19.3m sales last year. MotivCom director John Sylvester is convinced that there is more organic growth to come from Zibrant: Their forward visibility is good and, having seen their forward order book, we are confident.

He says, The things that attracted us to the deal were the strong management, great products and a great client list [including Barclays, Deloitte, Volvo and Pfizer] that has very little overlap with our own and so provides lots of cross-selling and up-selling opportunities. Zibrants venue-finding business capitalises on the desire of large corporates to consolidate their spending on facilities for events, conferences, training and ad hoc meetings, while event management and production is also a booming business sector that complements MotivComs offering.

At the interim, MotivCom achieved an 11% sales advance, with pre-tax profits rising 31% and dividends lifted by 43% to 0.5p. All this growth was organic, from a mix of product developments and new business wins and visibility is high with 88% of budgeted gross profits already booked.

House broker Numis was forecasting earnings of 8.6p for the full year, growing 17% in 2008. The acquisition is reported to be earnings enhancing next year, so expect some revision of these numbers.

Growth Company Investor recommended the shares at 85p last December when the company claimed ambitions to become a 100m company by 2010. This deal should take the valuation to around half of that target, improving liquidity and putting the shares on more investor radars. Keep buying.

On the watch list for a breakout.

The 2008 brokers forecast due soon will be key to 200p by xmas.

Fingers crossed then M.

Crashed 40% in the past 15 weeks. Needs to grow by two thirds just to recover that lost ground. You guys aren't still hanging in there I trust??
Going to have to go some to achieve the directors dream of being a 100m company -- now down to about 28m.

Where did it all go wrong?

Recovered investment and let profit ride
Spoke to their pr comapany - Brokers note was blacked out for some reason and now due any day.
No profit warnings have been issued and this one might just come back if their results are on forecast.

Motivcom# - Buy (90p) - Target price 151p
Last different recommendation: Add, October 2007
Summary: Motivcom has released an encouraging operational update. The group's innovative product range is selling well and all three recent acquisitions (MTM, Zibrant and ProTravel) have been successfully integrated. The group provides a varied range of products in the business-to-employee subsector of the marketing services industry and believes that the diversity of its products 'offers substantial resilience to economic cycles'. The group is currently trading on a 2008 PE of 7.8x and we believe this does not fully reflect the organic growth and consolidation opportunities which lie ahead.
Acquisitions: In the second half of last year Motivcom made three acquisitions, all of which have been successfully integrated. MTM is performing as planned and fits well with the group's Archer Young subsidiary, with further synergies expected in 2008. Zibrant has strengthened the group's incentive travel, event management and live communications offering and management intend to exploit cross-selling opportunities across the group. ProTravel has been fully integrated into the Sales Promotion division and synergies are beginning to flow through.
Valuation and recommendation: On our 2008 forecasts (PBT/EPS 5.0m/11.6p) the shares are trading on a PE of 7.8x. With healthy organic growth and +34% EPS growth, aided by acquisitions, we do not believe this reflects the group's opportunities. Our positive recommendation is underpinned by the need for businesses to seek alternative ways to incentivise and motivate employees, using the types of services and products provided by Motivcom.
# Numis acts as broker

NUMIS MEDIA ANALYSTS (Lorna Tilbian, Paul Richards, Richard Hitchcock, Dominic Buch)

Motivcom - Interim Results

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