UXC 0.00% $1.22 uxc limited

re: have a look at this !!!!!!!!!!!!

  1. 329 Posts.
    I had some discussions with my broker today and he mentioned this one with great enthusiasm, but could not give away too much because they have been commissioned to provide coverage and/or research report(s) on this company. But it was enough to indicate a strong buy..

    I will not mention Target Price as yet because you wont believe me..

    Here is some info mailed to me if anyone is interested..
    * Profit after tax of $6.67 million, up 276%
    * Formation of UXC Limited in September 2002
    * Final dividend of 3 cents per share, making 5 cents per share fully franked for the year
    * Earnings per share of 5.42 cents
    * Consolidated franking credits available of $17.4 million
    * Completion of seven acquisitions during the year
    * Completion of two acquisition since 30 June 2003
    * Strong start to 2004 financial year
    * Cash and investments of $17.68 million

    UXC earned an after tax profit of $6.67 million for the year to 30 June 2003 on revenues of $115.4 million, and will pay a final dividend of 3 cents per share fully franked, making 5 cents for the year.

    Following completion of the merger, management has focused on extracting synergies between the group's business units, achieving organic growth objectives in a difficult market and continued acquisition activity.

    During the year, UXC acquired:

    * Planpower, a professional services organisation which specialises in project management, business solutions consulting, organisational change and learning and development

    * e-BI Solutions, which provides business intelligence tools, consulting and training services

    * Xapt Australia, a reseller of the widely acclaimed ERP solution, Microsoft Navision Axapta, complementing the existing business unit Eclipse Computing Australia * Telsyte, a telecommunications research firm, complementing Gibson Quai

    * Technology Exchange, which holds intellectual property involved with the design and production of steel supports used to refurbish deteriorated poles for electricity and telecommunications distribution companies, complementing Utility Asset Management

    * ITAC, a provider of IT security consulting, management and training solutions, complementing Corporate Network Solutions The company's financial position remains robust, with approximately $8.78 million in cash, $8.9 million of investments, and no debt (apart from leases). In light of this strong financial position and the satisfactory level of profitability, the Directors have declared a final dividend of 3 cents per share fully franked, payable on 21 November 2003 to shareholders registered on 6 November 2003. This brings total dividends for the year to 5 cents per share, fully franked.

    On 3 July 2003, the Company issued 4,560,782 shares in consideration for the remaining 50% of QSP Asia Pacific Pty Ltd.

    On 17 July 2003, the Company announced it was participating in the underwriting of a rights issue to the shareholders of listed financial services group IT&e Limited (ASX: ITE), to raise $3.822 million. IT&e is utilising the rights issue to raise capital and complete the acquisition of Nextset Software Inc, a software solutions provider to global financial markets. UXC currently holds a strategic investment of more than 19% in IT&e and is IT&e's largest shareholder. UXC's investment is synergistic with its existing Business Solutions Group, specifically in the banking and financial markets industry.

    On 1 August 2003, the Company acquired the business and certain net assets of Aerial Hoisting Services, an asset maintenance business.

    On 5 August 2003, the Company announced the sale of unmarketable parcels (under rule 5.4 of the Company's Constitution). Those shareholders with an unmarketable parcel (under $500) at 5pm on 16 September 2003 will have their shares compulsorily sold at a price not less than $0.60 per share.

    On 13 August 2003, the Company acquired 100% of the shares in i-Training Solutions Pty Ltd (ITS), a Melbourne-based registered training organisation.

    On 1 September 2003, the Directors declared a dividend of 3 cents fully franked per ordinary share for shareholders on record at 6 November 2003 and payable on 21 November 2003. This dividend has not been provided for in these results.

    More Later..
    Happy Trading
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