IS Research - Tearsheet

CMS CMS GBX Ords 25p Ords Communisis PLC 02620 true 2620 138652000 138651540 GB0006683238 3 2 2012 9 33 20 28.38 28.25 39349436.00 -0.74 -0.74 26.50 30.00 28.30 28.23 28.22 15262 37.00 25 5 2011 0 0 0 23.75 25 11 2011 0 0 0 28.30 28.38 28.38 32.50 0.50 28.30 28.23 30.00 -2.6079295 28.38 -0.74 -0.74 5 2 2012 6 24 18 LSE London Stock Exchange Europe/London 480 990 3 2 2012 8 0 0 3 2 2012 16 30 0 T 29.12 0.00 0 28.86 29.12 0.00 0 28.86 29.12 0.00 0 28.86 29.12 0.00 0 28.86 28.30 28.30 28.30 -0.82 2500 28.30 28.30 28.30 28.30 28.30 28.30 -0.82 0 28.30 28.30 28.30 28.30 28.30 28.30 -0.82 0 28.30 28.30 28.30 28.30 28.30 28.30 -0.82 0 28.30 28.30 28.30 28.30 28.30 28.30 -0.82 0 28.30 28.30 28.30 28.30 28.30 28.30 -0.82 0 28.30 28.30 28.30 28.30 28.30 28.30 -0.82 0 28.30 28.30 28.30 28.30 28.30 28.30 -0.82 0 28.30 28.30 28.30 28.30 28.30 28.30 -0.82 0 28.30 28.30 28.30 28.30 28.30 28.30 -0.82 0 28.30 28.30 28.30 28.30 28.30 28.30 -0.82 0 28.30 28.30 28.30 28.30 28.30 28.30 -0.82 0 28.30 28.30 28.30 28.25 28.30 28.25 -0.87 2762 28.30 28.25 28.25 28.22 28.30 28.23 -0.90 10000 28.30 28.23 28.22 28.38 28.30 28.23 -0.74 15262 28.30 28.23 28.22 POUND STERLING GBP 2.676 2.97 2.789 2.97 74.419 6.667 18.75 5.285 5.638 6.695 3.367 3.03 5.638 1.5 1.6 1.9 15.071 17.32 19.2 18.386 9.214 39.349 4.014 4.752 5.3 43.565 18.386 11.532 7.07 5.972 5.355 10.15 6.876 5.972 .162 .325 .464 -.205 .325 7.923 9.343 10.2 6.309 .315 .203 -1.439 -10.873 -5.855 -1.816 1.61 4.397 4.545 199.029 212.804 222 2011 2012 2013 2010 NRM 03 02 2012 16 16 55 28.22 28 29.5 10000 S K3QSVZGH11 15262 15262

Communisis Plc (CMS)

ISR viewConsiderable achievements over the last three years are currently being masked by earnings weakness prompted by recessionary pressure but we are confident that, once uncertainty over the impact of the recession on earnings is removed, the shares will start to reflect these successes.

Share price28.38p

Market cap.£39.3m

Summary

Communisis is a technology-led support services group providing software, data processing and print production services for direct marketing and transactional applications.

Financials

Year	Rev	PBT	EPS	Div
2007 A	290.6	7.9	3.9	2.5
2008 A	257.7	13.3	6.6	2.5
2009 A	190.2	5.2	2.6	1.3
2010 E	189.2	5.7	2.8	1.3
2011 E	191.8	6.2	3.1	1.3

Valuation

Year	EV / rev	EV / EBITDA	PE	Yield (%)
2009 A	0.3	4.0	10.9	4.6
2010 E	0.3	3.9	10.1	4.6
2011 E	0.3	3.8	9.2	4.6

IS Research - Informed, Insight and Integrity

Communisis Plc (CMS)

Summary

Recent analysis

Confident for the full year

Interims signal returning confidence

Steady trading; new segments

Working through the issues

Financials

Valuation