The May edition of the UK Investor Magazine is live - Tips, UK Investor Show photo feature, and the the end of the EU
New General Election caption contest: Katie Hopkins & Jeremy Corbyn, or which one is the gruesome one?
Published 4 days ago
A “Pre-close FY17 Trading Update” announcement from Tungsten Corp (TUNG) sees CEO Rick Hurwitz claiming “Tungsten made remarkable headway in fiscal '17”. With the shares responding, er, more than 3% lower to 66.25p, the following reviews...
Published 27 days ago
Digital Barriers (DGB) has announced a framework contract and a trading update emphasising sales growth and “EBITDA is expected to be in line with market expectations”, BUT…
Published 60 days ago
In an early 2015 ShareProphets article I observed that AO World (AO.), the self-styled ‘leading European online retailer of electrical products’, was an overpriced hope stock. Roll forward, via a series of critical articles on this website from a number of writers, we have a much lower share price.
Published 60 days ago
Having previously updated on CloudCall (CALL) HERE, I note the integrator of voice communications into customer relationship management platforms has now announced results for the 2016 calendar year. These emphasise “a year of excellent progress for the business” and a “strong start to 2017”, though have currently seen the shares slip back towards 100p…
Published 70 days ago
Small AIM outfit Zinc Media (ZIN) released its interim results last week and trumpeted that it is continuing to move in the right direction, but I would question whether the turnaround is happening fast enough to make the shares attractive.
Published 75 days ago
After a profit warning in January, CEO of Kalibrate Technologies (KLBT), Bob Stein, is “pleased to report our results for the six months ended 31 December 2016. Hmmm. The shares have responded lower, back below 60p…
Published 82 days ago
A 2016 results announcement from remote meetings technology group LoopUp (LOOP) includes “we're very pleased to report strong business performance and a positive outlook in our first set of annual results as a public company”. So why are the shares currently more than 3% lower, at 156.5p, in response?...
Published 95 days ago
A half-year results announcement from cash guzzler (Oops sorry, “digital technology group specialising in financial services”), Monitise (MONI) emphasises “our transformation programme is nearing completion, and continued half on half EBITDA profitability demonstrates that it is working”. Hmmm, EBITDA is though of course bullshit earnings, so what’s the real story?...
Published 97 days ago
Shares in NCC Group (NCC) have slumped by 9.5% to 162.5p in late trade after a shocker of an announcement posted at 4.16 PM today. Not quite no-one is watching O'Clock but still late in the day. If you were on your way to the capital markets investor rampfest day it was holding tomorrow, don't bother. It has been cancelled. Cheers,my cyber security expert friends, did you not know you were going to have to issue a shocking profits alert until just now? How long have you been sitting on this bad news? Thanks. can I get a refund on my train ticket?
Published 110 days ago
blur Group (BLUR) has announced “key metrics for Q4 2016”, in the same opening paragraph noting “FY 2016 EBITDA is expected to be ahead of expectations”. EBITDA is of course not a ‘key metric’, but bullshit earnings. What about the real key metrics – cash generation and the balance sheet position?...
Published 114 days ago
The market doesn’t like uncertainty, and that is why Premier Oil (PMO) has been continuing to under-perform in comparison to some of its peers in the oil and gas producing sector in terms of the share price.
Published 125 days ago
Shares in provider of bullshit earnings (Oops sorry, “provider of strategy and technology services to the global fuel and convenience retail industry”), Kalibrate Technologies (KLBT) are currently more than 18% lower, at 57.5p, on the back of a “Trading Update” announcement. Profit warning AHOY!...
Published 131 days ago
I looked at remote meetings technology group LoopUp (LOOP) just after the company’s August IPO – concluding, with the shares at 112.5p, that the valuation in conjunction with usual IPO and growth risks saw me avoid, but that I’d monitor with interest. The shares closed yesterday at exactly the same price as then – but are currently approaching 13% higher today, at 127p, on the back of a trading update announcement…
Published 136 days ago
Following Foxtons earlier this week, Countrywide (CWD) has now updated for the 2016 calendar year with CEO Alison Platt claiming “it is pleasing to report modest full year revenue growth”. Hmmm…
Published 208 days ago
A “Q3 Trading Update” from developer, publisher and licensor of mobile real money and social games, Gaming Realms (GMR) commences with the headline “Strong revenue growth and maiden profitable quarter”. Sounds good, but is the reality such?...
Published 217 days ago
Geospatial and cloud services company 1Spatial (SPA) has announced self-admitted "disappointing"results for its half-year to 31stJuly 2016, though that “management believes the group is still on track to meet full year expectations which is an overall increase on the prior year revenues and adjusted EBITDA”.
Published 263 days ago
Monitise (MONI) has announced results for its year ended 30th June 2016 emphasising “substantial improvement” in second half operating figures and “FINKit®, our new business unit which enables banks and financial services organisations to transform their digital services, launched during the year generating initial revenues in the second half of FY 2016, and received a positive response from current and potential clients and partners”. Sounds good…
Published 290 days ago
“MediaZest (MDZ), the creative audio-visual company, is pleased to provide shareholders with final results for the year ended 31 March 2016… Best ever financial results with turnover of £3,144,000 and EBITDA profit of £58,000”. Hmmm, let’s take a closer look…
Published 308 days ago
Serial AIM dog PhotonStar (PSL) has announced the issue of 230,857 shares at a price of 2.625p to former NED Mr Philip Marshall in settlement of outstanding remuneration, worth a total of £6,060. That the company didn’t just pony up the relatively small amount in cash raises the question as to why.
Published 342 days ago
Premium lifestyle brand Joules (JOUL) is one of the freshest arrivals to the AIM market. Along with Hotel Chocolat (HOTC), Joules has been recognised as one of the higher-quality names to opt for AIM in recent months, and a sign that the junior market is still capable of attracting highly investable companies.
Published 344 days ago
Yesterday in Part 1, I outlined the gravity of the situation facing Premier Oil’s (PMO) equity investors. In that piece, I presented my view that the purchase of E.ON’s North Sea assets was an attempt to temporarily fix a covenant breach situation, but that any profits it generates are unlikely to be material against Premier’s debt pile.
Published 345 days ago
Anyone lucky enough to buy independent exploration and production company Premier Oil (PMO) around the January lows achieved a two-bagger in quick time as the shares rallied rapidly from around 20p to achieve a high of 75p last month. It is currently capitalised at £360 million ($500 million) and is a favourite on the bulletin boards. Sadly, it’s not yet clear that Premier has its house in order. There could be some serious pain yet to come.
Published 360 days ago
Following a true 'no-one watching o'clock’ “Business Update” from DCD Media (DCD), it has followed suit with the results announcement – with a 4:10pm release. I wonder why...
Published 362 days ago
On 12 June 2015, Octagonal Plc (OCT) issued a document entitled “Proposed Acquisition and Shareholder Circular” in connection with the proposed acquisition of Global Investment Strategy Limited.
Published 372 days ago
The expanding alcohol retailer and wholesaler Conviviality (CVR) provided the market with a double-barrelled update on Friday, announcing the completion of an acquisition and a trading update. It’s been non-stop growth and change at CVR in recent times. This leaves investors with plenty to think about as they sip on their discount booze.
Published 378 days ago
Institutional investors continue to sell. But Avanti Communications (AVN) directors hope that piffling share purchases by themselves will persuade mug punters to follow suit. Do I care that David Williams (total package last year $1,154,445 after another year of mega cashburn) has bought 5,434 shares at 91.5p taking his holding to 1,709,144. Seriously? A guy who earns c$20,000 a week for trainwrecking this company has bought £5,000 of shares? And that is meant to show he has faith in the company? If anything it shows he has none. Now to the Q3 trading update.
Published 390 days ago
Previously commenting in March on the company with the exclusive right to develop, operate and sub-franchise Domino's Pizza stores in Poland, DP Poland (DPP) I concluded with scepticism on the valuation – a share price rising to more than 28p meaning a market cap of circa £37 million. The shares since retreated slightly to circa 26p, but are currently again on the rise on the back of an “AGM Statement”. Let’s take a look…
Published 410 days ago
We have known that the Peter Earl AIM-listed train-wreck Rurelec (RUR) has been in some financial difficulty for some time. Mr Earl departed the scene last June, but the fire-fighting for the new board has been on-going ever since. Last night at no-one-is-watching o’clock (4.55pm) the company gave an update on its funding arrangements and trading in what must be a classic case-study for all MBA students on how to deliver bad news. Over to the ShareProphets RNS Translation service for the low-down on last night’s announcement…..
Published 414 days ago
Last week I asked readers to explain the meaning of EBITDA as I was searching for enlightenment. The standard of entries was superb as you can see HERE.
Published 416 days ago
There are no prizes at all but the deadline to enter these two contests is no-one is watching O'Clock tonight (Friday), or as they say at the US Oil & Gas (USOP) press office, rush hour. The standard of entries so far as been incredibly high so to see those entries and post your one for EBITDA go HERE and for Jabba's yacht go HERE and e now also have a Call Me Dave tax dodging caption contest HERE
Published 419 days ago
We all know that on the world's most successful growth market EBITDA is a popular way to present bad numbers as good ones. But what do those letters really stand for? Post your answers in the comments section below.
Published 473 days ago
With the exclusive right to Domino's Pizza stores in Poland and currently 16 corporately managed and 8 sub-franchised stores (in Warsaw, Krakow, Wrocław, Gdansk and Szczecin), DP Poland plc (DPP) has made an announcement today entitled “Trading update”, which is not really a trading update…
Published 475 days ago
Tungsten Corp (TUNG) has updated that “trading in the third quarter was in line with market expectations, and that revenues for the full year to 30 April 2016 are expected to be broadly in line with its previous guidance”. With that guidance – for “revenue of at least £27.5m” – emphasised as recently as December, the now only “broadly” in line has helped the shares currently around 8% lower today towards 60p. And there is more…
Published 494 days ago
Monitise plc (MONI) has announced a half-year trading update – the second bullet point of which is “Existing businesses generating positive EBITDA going forward”. Hmmm. As per Charlie Munger, EBITDA is ‘bullshit earnings’ but at least this now seems to be “positive” here I suppose… or is it?...
Published 501 days ago
Internet media company blinkx plc (BLNX) has updated that “profitability in Q3 2016 was ahead of management expectations”. Good, good… “achieving break-even on an adjusted EBITDA basis during the period”. Oh, so not making a profit at all then! Hmmm…
Published 553 days ago
In his debut article for ShareProphets, Robert Corden explains why he is so bullish on Service Power (SVR) and believes the shares are a strong buy at 4p.
Published 586 days ago
Shares in Transense Technologies (TRT) currently trade around 40% higher today, at 1.625p, following an announcement that it has agreed to sell its 'IntelliSAW' business to US-headquartered global manufacturing company Emerson for a net “approximately £2.9 million” and it stating that it believes it now “is well positioned to become a self-sustaining, high-growth and cash-generative business”. Hmmm…
Published 595 days ago
Last week I updated on eServGlobal (ESG) HERE, concluding that ‘with HomeSend still having much to prove and there still clearly trading and financial difficulties for the core business, particularly ahead of a further trading update expected later this month, I remain bearish’. The shares are currently down approaching 25% today, at 5.5p, as guess what? …
Published 614 days ago
Globo plc (GBO) has announced the signing of a Letter of Intent to acquire “a Bring-Your-Own-Device and Mobile Security software provider based in Europe”. This has currently helped the shares up to 35p, though they remain well down from above 60p in June and there continues to look good reason why…
Published 622 days ago
On 14th July 2015 AIM Casino dog Iofina (IOF) made its last announcement – the usual bag of shite trading update. Its shares closed the day at c22p. The shares are now 14.5p having fallen steadily over the past two months but aggressively of late. So when and what is the bad news?
Published 632 days ago
A month or so ago I wrote a piece suggesting that people avoided Lonmin (LMI) at a share price of 62p. Although it looked cheap at that price I could see further downside based on funds selling prior to the South African platinum miner’s exit from the FTSE250 in the quarterly review.
Published 636 days ago
A Quindellologist from the grim post industrial welfare safaris of the frozen North sends me this fasoinating Slater & Gordon number crunching. Suffice to say that S&G shares remain a stonking sell.
Published 642 days ago
My formative investment years were so long ago that I remember the daily thump that announced the arrival of the physical research pile from a variety of investment banks. As a callow youth I used to devour these publications believing them to be a route to insight and riches. The latter was true – although almost exclusively not to the readers of such ‘research’. The reason for this walk down memory lane was that I was reminded by an article from Tom Winnifrith of a report I kept by my desk for months titled something like ‘why EV/EBITDA is the most important statistic for fund managers today’. Suffice to say the quality of my investment insights all those years ago improved materially after I had a desk tidy-up…
Published 644 days ago
I leave it to Steve Moore to have the pleasure of plunging the knife into the dog blinkx (BLNX) after its profits warning HERE. It is a dog pure and simple and the shares, at 21p, are a stonking sell with a 12p target for starters. On the matter of blinkx we long term bears are again vindicated while the self-proclaimed expert on the stock, the disgraced ramper Roger Lawson of ShareSoc is one more shown up as a fool as well as a knave. But now to EBITDA.
Published 685 days ago
Warren Buffett says that anyone who uses EBITDA is either trying to fool you or to fool themselves and that brings us to a comedy profits warning from POS AIM casino dog Iofina (IOF) issued first thing today. What clowns.
Published 691 days ago
Last September Visa Inc. announced a lessening involvement with Monitise plc (MONI) – prompting us to ask if the US-based company can go it alone who will be next? (see HERE). Today Monitise has announced that Visa Europe Ltd has now also notified it that it will reduce its shareholding over time while continuing to work with the company throughout the duration of its current commercial agreement…
Published 704 days ago
The sportfishing industry is one that I know well, as it has been part of my day job for many years! So it was with great interest that I followed the listing of Fishing Republic (FISH) on the AIM market earlier this month.
Published 726 days ago
Online electricals retailer AO World (AO.) has announced results for its year ended 31st March 2015 including an emboldened statement that “the group has delivered significant growth in UK sales and UK Adjusted EBITDA over the year whilst also delivering significant strategic progress; broadening its product range, with the introduction on AO.com of audio-visual equipment and expanding internationally with the successful launch of AO.de in Germany”. A focus on “strategic progress”, sales and adjusted EBITDA, rather than real profitability and cash generation then. Red flags ahoy? …
Published 796 days ago
Monitise plc (MONI) has announced that a strategic review has concluded “that the best way of maximising long-term value for all stakeholders is to continue transforming and streamlining the business as an independent company”. With the shares having reacted a current more than 16.5% lower, to 15p, the following reviews…
Published 889 days ago
Many, many years ago Granny Deputy Sheriff used to do very well on the stock market. Legend has it that she did particularly well out of biscuits and helicopters. She tended to make investment decisions not on the usual measures of P/E or EBIT or EBITDA – let alone the fundamantal analysis of company accounts. No, this was an investment style all of her own (at the time): it was based on life experience. It rather chimes with one of the themes of Peter Lynch’s ‘One Up On Wall Street’.
Published 928 days ago
Vodafone’s (VOD) half year’s results to 30th September 2014, just published, are a satisfactory outcome in relation to my analysis last June, which pointed to the expectation of top line revenue growth, heavy capital spending and reduced profits meantime; obscuring the longer term rewards of that investment in terms of sales revenue and then eventually, probable earnings per share.
Published 977 days ago
Toumaz (TMZ) has all the markings of the sort of stock that should be in the Bulletin Board Moron nightmare portfolio as explained HERE earlier and, indeed, it seems to have a diehard band of BB Moron enthusiasts. Results today are dismal and the cash is running out. Yet at just under 6p the valuation is £95 million. Crackers.
Published 987 days ago
Avanti Communications (AVN) served up full year numbers today and it all looks great. Uber-bombast CEO David Williams, who admits to misleading investors in the past, has put a great spin on what is actually a dog’s dinner. Take the four bullet points financial highlights. Three of them are a half truth, misleading or an outright lie respectively. And there are good reasons not to believe the fourth at all!
Published 1003 days ago
Nighthawk Energy (HAWK) has had more than its fair share of ups and downs over the years, but now seems to be heading in the right direction. The AIM-listed oil producer and explorer is based in the US with licences in various parts of Colorado, and the latest update showed that during July it produced over 2,000bopd – although this was down slightly on the previous two months due to maintenance work and testing.
Published 1032 days ago
Shares don’t come much more volatile than Maple Energy (MPLE) over the past week or so. The company had been languishing at its lowest level since it listed in 2007, at around 9p per share and with little volume – a far cry from the peak share price of over 300p that it hit in 2009. Then along came an RNS mentioning a possible takeover offer and the market went crazy causing it to rise over 300 per cent in a day to a high in excess of 36p. Since then it has plummeted back to 12-13p and volume has tailed off significantly. Is this now worth taking a gamble on the takeover?
Published 1069 days ago
Blinkx (BLNX) is a company that I’ve followed for a while now and I think that it has finally found bottom. Its share price has taken a massive tumble over the past year off of the highs of 235p it hit last November to the present day level in the low 60s.
Published 1074 days ago
Fair dues to Dave Breith, the CEO of Coms (COMS). I ripped him apart a couple of weeks ago HERE and he popped into Real Man yesterday and insisted on buying me lunch. I had a salmone e penne, he had a Thai chicken pizza. The food was great and I rather warmed to the man who accepted that my comments were fair.
Published 1080 days ago
I was sitting at Real Man Pizza at noon yesterday awaiting my guest, Dave Breith of Coms (COMS). At 12.30 I tried calling to see where he was. His PA called me to say he was off sick and apologising for his second last minute let down in 3 weeks – I do want to meet the guy. As we now know Breith was not sick. That was a lie born out of apparent monumental incompetence at his firm.
Published 1691 days ago
Shares in AIM listed satellite operator Avanti Communications (AVN) have slumped today by 62.75p to 286p after results for the year to June 30th 2012 were announced and were received poorly. Adding to Avanti’s misery bear raider Evil Knievil announced that he had gone short at 295p. He is wrong and this is a buying opportunity. I say this as someone who tipped the shares first at 116p in August 2004 and who has continually rated them as a buy at anything up to an all time high of almost £8. I still believe that the shares will in due course move sharply higher and my target price is £16.81. Here is why.