The answer to that I believe is...

Its going cheap at the moment and there looks to be considerable upside from its present price of circa 10p. Ive had it on the watchlist for the last 6 months and it continues to do deal after deal but nobody notices .

Plenty more room for acqusitions aswell which will see growth booming.

The company is valued at less than 15 million. By the financial year 2007/8 sales will be 40 million and profits after tax at least 4 million I reckon.

House broker Seymour Pierce have the following forecasts on the company but these I beleive will be smashed.....

To 31-Dec-06 EPS 1.00p P/E 10.0 PEG n/a EPS Growth n/a
To 31-Dec-07 EPS 1.50p P/E 6.7 PEG 0.1 EPS Growth +50%

If the present momentum in the markets goes forward this company on fundies should at least double within a year.

Heres a bit of background on the companys operations......

Delling Group is a leading supplier of marketing support services for marketing
and communication departments throughout The Nordic countries.


Delling manages all fields of graphic support in many different forms and
formats including trade fairs, exhibitions and interactive digital solutions for
the web, mobile telephone marketing solutions, motion media for flat screens,
plasma or LCD.


It also supplies IT solutions which support and increase the efficiency of both
marketing and information departments. However, its major strength is that the
Group can deliver complete turnkey solutions, tailor-made for its customers'
every need. Delling also offers outsourcing solutions that can substantially
save costs and improve efficiency.


The Group's major activities are today concentrated in the Norwegian and Swedish
markets, however, it is quickly expanding into other Nordic areas, as well as
having customers and production facilities in Eastern Europe. It also has well
respected suppliers as far afield as China and Thailand.


Delling Group has today 80 employees. It is rapidly developing its organisation
by focusing on supplying its customers with the quality they demand, delivered
on time at the right price. Central to its philosophy lies the fact that its
customers will obtain greater effects and efficiency for every pound they invest
in marketing and information. The Group has strong growth, both through further
development of existing clients and establishment of many new relationships,
together with acquiring companies that enhance and further develop our business
concept.


Delling's goal is within the course of the next two years, through both
satisfied customers and recommendations, to be the largest and most profitable
company in the field of marketing support services within the Nordic countries,
and a significant player within Eastern Europe. In October 2004, Delling was the
first Scandinavian business to be listed on the Alternative Investment Market
('AIM'), the London Stock Exchange's international market for smaller growing
companies. This has given Delling access to capital funds for the further
development of the Group.



DYOR.

Another contract win...

Delling Group wins contract extension worth 150,000 stg from Telia Sonera
AFX


LONDON (AFX) - Delling Group said it won a contract extension worth 150,000 stg for marketing support services to Swedish telecom operator TeliaSonera.

It will provide marketing material and related services for Telia's products within all the major airports in Sweden during 2007.

Delling said it has also won a contract to supply all transportable

display systems and related products for the merger process of the

two major Norwegian based oil companies, Statoil and Norsk Hydro.

newsdesk@afxnews.com

bsd

Have look at figures forecast for company, as mentioned very hard to work out at present. I have a 6 month price target at 15p, and will look to invest before June.

From ii, Rebecca Turner targets sp 35p for 2008:

Delling (DLG) is an interesting story of acquisitive growth,
having made seven deals last year and with no signs of stopping this year. Yet the valuation fails to discount this progress, with the shares trading on a December 2008 multiple of just 3.7 times earnings. With a strong balance sheet and management with a knack for targeting the right businesses, the company is set to expand rapidly over the next few years.

Delling is a marketing support services operator which went on a brake-neck acquisition spree last year. It now manages all fields of graphic support in many different formats, including trade fairs, exhibitions and interactive digital solutions for the web, mobiletelephone marketing, and motion media for flat screens, plasma and LCD. The company also provides IT solutions to support and increase the efficiency of both marketing and information departments. The business' major strength is that it delivers complete tailor-made turnkey solutions, as well as outsourcing.

In the main, Delling's activities are concentrated in the Norwegian and Swedish markets (although it is expanding into other Nordic areas), as well as having some customers and production facilities in Eastern Europe, the UK, China, and Thailand. It now has 80 employees, having grown rapidly in recent times through the development of existing clients, the establishment of new relationships, and the acquisition of new businesses.


Strategy

The strategy for the next two years is to become the largest and most profitable Nordic marketing support group, as well as a significant player within Eastern Europe and the UK. In October 2004, Delling became the first Scandinavian firm to list on AIM, giving it access to raise new funds specifically for this expansion.

During the first half to 30 June 2006 the group delivered a 110% rise in turnover to 5 million, of which 1.5 million was won from new annual contracts, and the remainder from acquisitive growth. A fundraising for 7.5 million strengthened the balance sheet, providing the group with access to bank financing for further value-enhancing deals.

In January this year, Delling won a major outsourcing contract with Swedish grocery chain, Vi-Butikerna, worth 1.1 million per year. Under the deal, Delling will handle the production of graphical material to 90 food malls across Sweden. It will also include the production of advertisements, weekly direct-mail activities, production of brochures, and project management. Vi-Butikerna was high on Delling's list of target clients, and the deal will boost earnings forecasts.

Delling's most recent acquisition was made in February - that of Sandbergs Exhibition Group, the only listed marketing support services group in Scandinavia. Delling issued 1.48 million worth of new shares to fund the deal, bringing new institutional and retail investors to the shareholder list. Sandbergs will also have an immediate impact on the bottom line.


Driving forward

Since 2004, Delling has bought seven businesses and has increased its turnover tenfold through acquisitions and organic growth. The rate at which targets present themselves continues to rise and Delling plans to invest heavily in investigating these opportunities and ensure their smooth integration for optimum returns. Delling remains an ambitious company with growth plans to completely transform its scale and reach over the next few years. We expect the acquisition trail to continue this year, with perhaps another 5 million generated in sales as a direct result of the strategy. The focused management team and strong balance sheet will drive this process forward. If we assume a one-year multiple of 12 times earnings for the shares, we reach a 2008 target price of 35p. This valuation is not demanding for a business growing its top and bottom line at such a rate. So, with the shares now at 10.5p, there is tremendous upside. A speculative buy.

Ends

Cheers, Madison

Hi madders,

I just wish the City would catch on and realise how cheap these are.

Patience as ever.

gf, smal Mkt Cap so not on city's radar screen.

goldfinger
Thanks for this thread - it put DLG on my radar and, after having a good look at it, have added to my SIPP. I don't expect fireworks tomorrow but happy to let it steadily rise. Seems like a good story - I like acquisitive businesses that roll out a successful business model to acquired businesses.

Take a look at ITQ - risen by over 2 times placing price with a clear 3.00 target and leadership with an excellent track record for acquisitive and organic growth.

mg

Will do MG, many thanks.

Purchased shares today, not expecting a rapid rise but would like to see a double within a year. Fingers crossed.

Thank you for the research notes posted here, made interesting reading.

S43 welcome aboard.

Patience is the key here.

Yes patience is key, and if I had waited a few days I could have purchased shares 0.25p cheaper. Still I'm pleased to be aboard.

Still got a good deal though SF.

At some time they have got to take off.

Trouble at Mill.

Added a few more.....

Delling Group PLC
04 April 2007


For Release 4th April 2007




DELLING GROUP PLC
The AIM-listed marketing services group


Directorate change



Delling Group PLC ('Delling' or 'the Company'), the only listed marketing support
services group on AIM whose principal assets are in Scandinavia, announces that,
following a change of strategy to focus on developing its businesses mainly
in the Nordic region, Chris Stone has resigned his directorship of the Company.



The Board would like to thank Chris for his efforts and contribution to Delling
Group.



ENDS


Contact:
Delling Group Plc
Aksel Bratvedt, Chairman Tel: 020 7484 5663
James Robinson, Finance Director Tel: 020 7484 5663

If only I had waited a little longer.

But as they say you can rarely buy at the bottom or the sell at the top. Never mind I'm happy at 10.25p.

Lots of investors taking advantage of new low price pm.

Have been away for a few days, and very pleased to see sp move upwards of nearly 1p = 10.75p. May not sound very much but it is a 10% rise. Maybe I should have a few more breaks.

Director dealings activity in the news this morning.

Delling Group PLC
20 April 2007


Delling Group plc
('Delling Group' or 'the Company')

Directors Shareholding

In accordance with Chapter 5 of the Financial Services Authority's Disclosure
and Transparency Rules, the Company was informed on 19 April 2007 that
Geir Lolleng and Aksel Bratvedt, both Directors of the Company, are interested
in 17,903,125 and 6,320,268 ordinary shares respectively in the capital of the
Company. These holdings respectively represent approximately 10.78 per cent
and 3.81 per cent of the Company's issued voting share capital.

For further information:

Delling Group plc

James Robinson 020 7484 6160

Seymour Pierce 020 7107 8000

Nicola Marrin

Buy Delling at 9.5p

A1m-analyst
23.04.07


Argues the AIM Newsletter

These recommendations do not constitute advice, please read the risk warnings

AIM-traded Delling Group (DLG) is an interesting story of acquisitive growth, having made seven deals last year and with no signs of stopping this year.

Yet the valuation fails to discount this progress, with the shares trading on a December 2008 multiple of just 3.3 times earnings. With a strong balance sheet and a management with a knack for targeting the right businesses, the company's rapid expansion is not discounted in the share price.

Delling is a marketing support services operator. It manages all fields of graphic support in many different formats, including trade fairs, exhibitions and interactive digital solutions for the web, mobile telephone marketing, and motion media for flat screens, plasma and LCD. The company also provides IT solutions to support and increase the efficiency of both marketing and information departments. Indeed, the business' major strength is that it delivers complete tailor-made turnkey solutions, as well as outsourcing.

In the main, Delling's activities are concentrated in the Norwegian and Swedish markets although it also has some customers and production facilities in Eastern Europe, the UK, China, and Thailand. The group now has 80 employees, having grown rapidly in recent times through the development of existing clients, the establishment of new relationships, and the acquisition of new businesses.

During the six months to 30 June 2006, the group delivered a 110% rise in revenues to 5 million, of which 1.5 million was won from new annual contracts, and the remainder from acquisitions. In January this year, Delling won a major outsourcing contract with Swedish grocery chain, VI-Butikerna, worth 1.1 million per year - so its numbers are clearly moving in the right direction. VIButikerna was high on Delling's list of target clients; and the deal will boost earnings forecasts for this year and beyond.

The company's most recent acquisition, Sandbergs Exhibition Group the only listed marketing support services group in Scandinavia, was made in February. We expect the acquisition trail to continue this year, with perhaps another 5 million generated in sales as a direct result of the acquisitive strategy. If we assume a one-year multiple of 12 times earnings for the shares, we reach a 2008 target price of 35p. With the shares now at 9.5p, there is tremendous upside potential. Speculative buy.

The AIM & OFEX Newsletter was established 10 years ago and is a winner of the prestigious AIM and OFEX award for Best Research. Every month AIM and OFEX Newsletter publishes two news tips and updates.

Cheers, Madison

Problem is Maders nobody takes any notice.

Looks to me like an early May and sideways markets.

I personally hate them and rather have a full blown bear market, but thats my opinion.

Partience as ever needed in the months coming.

Company brought to my attention by ''Business" magazine which highlighted the AIMNEWSLETTER article set out by Madison re post71. Should be an interesting one to follow. Good to see the Directors with substantial interests. I purchased today at 10.25p. Thanks Goldfinger for interesting thread.

Thats me out, not hanging around.

Totaly unexpected no matter how some over the road are trying to cover up the cracks.

Taking a 17% loss on the chin.

Some seem to be buying in now, but you know what they say about profit warnings.