Frontier Smart Technologies – “pleased to announce… Board Transition, Refinancing and Strategy”… but still trading turnaround needed
Gulf Marine Services – from late May “improving pipeline of opportunities” to now “disappointed to reset guidance for 2019”!
Tom Winnifrith Bonus Bearcast for Roger Lawson: your post Burford proposals are largely unwise & would be, largely, counter productive
Brady – from end-May “new sales pipeline is building” to now “revenue from new customers forecasted will not materialise during fiscal 2019”!
I could talk about market heavyweights Diageo (DGE), Royal Dutch Shell (RDSB) or Unilever (ULVR) but frankly none are interesting or compelling...although no doubt dividend munchers are still getting frothy about them. Instead I turn again to the bingo, casino and more emporium Rank (RNK) – which I last wrote about in August, observing 'below 160p as a "have another look" level still feels correct. No debt, cashflow, well-known assets...smell the private equity or industry consolidation potential'…
Do any of the readership base want to admit to still going to the bingo? Well if you do then it is probably at one of Rank (RNK)’s Mecca emporiums as they attracted just shy of 5 million customer visits during its first half year with each punter spending just over twenty quid a visit. Customer visits were down 8% year-on-year though in the stats released a couple of months ago despite the wonderful RNS observation that:
Last week, Rank (RNK) and 888 (888) abandoned their pursuit of William Hill (WMH), acknowledging that it had been impossible to “meaningfully engage” with William Hill’s board. With a deal off the cards for now, we can get back to thinking about these companies on a standalone basis. And news is imminent: Rank is set to announce its preliminary results on Tuesday.
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