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Moneybox Plc (ATM)     

hulahoop - 13 Sep 2004 16:36

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????

goldfinger - 13 Sep 2004 16:40 - 2 of 10

What???????????????, are you sure the feed is correct?, if it is does someone in the city know something?. Dont hold but Id be very concerned.

cheers Gf.

goldfinger - 13 Sep 2004 16:43 - 3 of 10

PROFITS WARNING..............

13 September 2004

13 September 2004

Moneybox plc

Interim Results for the six months ending 30th June 2004

Chairman's Statement

I am pleased to report that results for the first half were broadly in line with
expectations. This period saw the company debut on AIM and acquire G2, a
payments and authorisation business. However, in July and August revenues from
the UK ATM estate have fallen below plan and, on the basis of this trend
continuing, the company now expects profits to fall short of full year market
expectations. Further guidance is given below.

cheers Gf.


bosley - 14 Sep 2004 13:01 - 4 of 10

could this make them a take over target for card point or scott tod?

daves dazzlers - 14 Sep 2004 13:13 - 5 of 10

my be , bosley ,i am a holder of cash,and theres some funny movement in cash trades going on !!!!!

goldfinger - 14 Sep 2004 15:10 - 6 of 10

Well I think the sell off is way overdone, and may try and get these on the bounce.

cheers GF.

goldfinger - 14 Sep 2004 15:34 - 7 of 10

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.

daves dazzlers - 14 Sep 2004 15:40 - 8 of 10

cheers gf,happy cash holder !

goldfinger - 14 Sep 2004 16:01 - 9 of 10

No problems Dave glad to be of assistance.

cheers GF.

mervpilot - 01 Dec 2004 22:17 - 10 of 10

Been a quiet board recently.

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

Is there an outstanding buy in the wings??
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