Anyone know what on Earth is going on with these?? They are due to announce results (good ones I hear) tomorrow. They've just dropped 22% today in about 30 minutes????

Here you are lads Brokers Ev Be Greg just sent me a note out, .............

14 September 2004
Cardpoint (CASH) Buy (unchanged)

Mkt cap: 70m Net cash: -14m Comment Price/Target: 116p/207p
Not generic

Cardpoint is not seeing the revenue weakness that was at the root of
Moneyboxs (ATM.L) profit warning yesterday p.m. This brings into
focus the differentiations between the business models.
As Cardpoint approaches the end of its financial year (30 Sept) our
understanding is that its revenue trend through the summer months has followed
managements expectations. This is clearly in contrast to Moneybox (ATM.L),
which yesterday revealed that revenue in July and August came up short of its
budget and means that market estimates now have to be revised down.

We believe that differences in the distribution by type of location between the
Cardpoint and Moneybox could offer a major part of the explanation.
Cardpoints estate is skewed towards locations along trunk routes, whereas
Moneybox has a greater high street representation. Moneyboxs management
indicated they put the July shortfall against budget down to the poor weather
during the month, but after further disappointment during August looked for
wider issuers pointing to poor media comment on charging ATMs (but
remember the Nationwide campaign against charging last summer) and
crowding of ATMs (yes, there has been rapid growth in the number of charging
ATMs (now about a third by number, but these still only represent about 3% of
all ATM transactions).

One final observation is Moneyboxs decision to buy out the operating leases on
its ATM estate and move its business model to ATM ownership. This aligns it
with Cardpoint.
Hector Forsythe +44(0)20 7071 4382 hector.forsythe@evosecurities.com EVO Securities is broker to Cardpoint
Year end Sales (m) EBITDA (m)
PTP adj
(m)
EPS (p) PER (x) EV/Sales (x) EV/EBITDA (x) Revised?
09/03A 12.2 1.3 0.1 0.2 >100 6.9 65.0
09/04E 37.4 4.1 0.6 1.3 89.2 2.3 20.6 No
09/05E 69.0 16.7 7.9 12.2 9.5 1.2 5.1 No

cheers GF.

cheers gf,happy cash holder !

No problems Dave glad to be of assistance.

cheers GF.

Been a quiet board recently.

Significant move north today of >7% on possibly more sells ??

Is there an outstanding buy in the wings??