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Even a few of our detractors have now come around
Back in August last year, I concluded about Rank Group (RNK) that at the then 175p share price “for me today I would AVOID”. That was wise as this morning shares in the company which has “entertained Britain since 1937” are only 82p! So why have they halved over the last ten months?
Previously writing on maternity and nursing wear group Seraphine (BUMP), in February with the shares down towards 70p I noted having listed little more than 7 months ago… a lack-of-profits warning AGAIN! concluding that the deteriorating balance sheet and track record since listing meant it remains Bargepole. Now a “Year End Trading Update”...
Hello Share Mates. It's natural, isn't it? We're warned about most of the dodgy companies on this blistering website. And we begin to think many more listed companies are suspect. They have incompetent mangers or worse still, there is some chicanery going on.
Hello Share Tasters. It’s a while since I last commended Gear4Music (G4M) to you. And since then we’ve had sad lesson about how fast a jolly story can turn unexpectedly into a bad one. Tom has reasonably pointed out to me that I could have responded earlier to this turnaround in Gear4Music’s fortunes. But his email reminders to me on the subject seem to have disappeared into the ether.
Life sciences market IT provider Instem (INS) has announced 2021 results emphasising “the combination of increasing demand for regulatory-backed solutions and a growing demand for artificial intelligence and in silico solutions in the drug R&D process underpins our confidence in further leveraging our software and service portfolio”. So what of a current share price response to below 700p, down more than 12%?!
Legal and professional services group Knights (KGH) has announced recent “lower than management’s expectations” performance but, with “cash conversion remains robust, with industry leading lock-up and debtor days”, is a share price response to below 200p, a more than 45% fall, justified?…
Maternity and nursing wear group Seraphine (BUMP) has announced a trading update commencing that it “has experienced strong sales growth in the 17 weeks to 30th January 2022 of 45%” and including that it expects full-year adjusted EBITDA of circa £4.5 million. With adjusted EBITDA being manipulated bullshit earnings, that doesn’t sound a lot considering a start of day market cap of more than £100 million…
Previously writing on ventilation systems and window and door hardware company Titon Holdings (TON), in December with the shares at 107.5p I noted full-year trading improvement, but what’s the outlook?. Now a “trading update” and the shares, having last closed at 100p, are currently at 80p!
Previously writing on marketing decision-making platform group System1 (SYS1), just earlier this month whilst it argued profitability “in line with management’s expectations” I noted the share price falling below 400p in response, it not fully in line with expectations and a still challenging valuation. But why are the shares materially lower today to around 250p?…
Womenswear online retailer In The Style (ITS) states it “is pleased to provide an update on Christmas trading for the eight weeks to 31 December 2021 as well as an update on its board of directors”. The shares though are currently down to 91p, so what’s the story?…
Online prize competitions company Best of the Best (BOTB) has announced results for its half-year ended 31st October 2021 including “in line with market expectations as updated in August 2021”. However, I previously noted that “updated” was actually a massive profit warning, concluding with the shares around the mid 600p’s I want to see some evidence of the earnings “uptick” potential before reconsidering from the watchlist. The shares last closed at 606p but are currently below 450p, so what’s going on with the apparently “in line” results?…
Previously writing on engineering and technology recruitment company Gattaca (GATC), in November with the shares falling below 180p I concluded house broker forecasts suggested possibly reasonable value but that the company’s recent performance and its outlook meant I’d wait for a further update on trading before reconsidering from the watchlist. Now a further trading update…
A trading statement announcement from greeting cards and complementary products retailer Card Factory (CARD) is headlined “Trading ahead of Board expectations for FY22”. So why have the shares currently responded to around 54p, 15% down?…
Previously writing on technology company to defence and related markets Cohort (CHRT), in September with the shares lower to 568p I concluded including also noted is that some delays have persisted – with the company noting some extended negotiations, restrictions impact and supply chain challenges… at this juncture, just on the watchlist. The shares last closed at 600p, but are currently lower towards 500p on the back of half-year results. So what’s the story now?…
Previously writing on manufacturer of plastic and paperboard packaging Robinson (RBN), in August with the shares at 112.5p I concluded the forecasts looked challenging and continue to avoid. So what of a trading statement today?…
Infection prevention and control products company Byotrol (BYOT) states that it “is pleased to announce” results for its half-year ended 30th September 2021. I previously concluded in April with the shares at 7p to avoid, they last closed at 5p…and are currently further lower at 4.275p. So what’s going on with trading?…
Describing itself as “a leader in developing, manufacturing and commercialising products for the self-care market”, a “Trading Update & Board Changes” announcement from Venture Life Group (VLG) includes “the directors see many reasons to be optimistic and are pleased with how the company is positioned… The company is profitable, cash generative, with a healthy cash balance… order book ahead of where it was at the same time last year (on a like for like basis)”. So why then are the shares, at circa 35p, 27% lower on the back of it?…
Previously writing on financial markets technology and related services group Arcontech (ARC), in September with the shares down to 140.5p I questioned “confident we will return to growth”. The shares most recently closed at 126.5p and are currently heading towards 100p on the back of a “trading update”. It means a profit warning then…
Previously writing on online musical instruments and music equipment retailer Gear4music (G4M), in June with the shares at 960p I concluded on the watchlist whilst I continue to see how the unwinding from government restrictions plays out. The shares last closed at 800p, but are currently down at around 700p on the back of results for the company’s half-year ended 30th September 2021. However, with it having updated on trading only last month, what’s going on?…
UK structural steel and construction safety company Billington Holdings (BILN) has made a “trading update” noting current “delays in the construction industry” but “an increased degree of confidence for 2022 and beyond”. So what’s the full story?…
A trading update announcement from ‘celebrations, craft, gifting, stationery and creative play products’ group IG Design (IGR) commences that it “has delivered a good revenue performance in the first half of the financial year with like-for-like revenue up 11% on the prior year, and up 5% on proforma revenues (including CSS prior to ownership) for the six months to 30 September 2019”. So why are the shares, currently at around 300p, more than 30% lower in response?…
In May I concluded with shares in “the UK’s leading independent tissue converter” Accrol (ACRL) lower at 54p to avoid as inflationary pressures could persist for some time given the wide pandemic response. The shares last closed at 44.95p and are currently below 40p on the back of a trading update…
Previously on LED lighting, electronic and electro-mechanical systems group LPA (LPA), I wrote trading warning, argues “victims of our own success”. Really? in March with the shares at 75.5p. They were still above 70p this morning, but at 11:53am a “Year End Trading Update”-titled announcement. If a scheduled such trading update why the intra-day release?…
A “Trading Statement” from iron casting and machining company Castings (CGS) includes “the current conversion rate of forward schedules to actual sales is significantly below what we would normally expect”. How does the statement make a current share price fall to 340p look?…
On listing on AIM in March I concluded on online womenswear group In The Style (ITS), listing at the “top of the valuation range” price was 200p per share, to capitalise the group at £105 million. With that and concern on the sustainability of recent performance; the noted selling shareholders having likewise and hence their selling now?, I certainly currently avoid. I concluded similarly cautiously more recently with the shares at 226p. Today an AGM trading update – and the shares currently down to 165p!
Designer, developer and international distributor of toys, games and giftware Character Group (CCT) commences a trading update today with that, “The re-opening of the bricks and mortar retail sector following the easing and, subsequently, the lifting of COVID-19 restrictions in many of our markets has had a buoyant impact on sales generally”. So why are the shares currently, at 572.5p, more than 17% lower?…
A “Trading Update” announcement from Parity Group (PTY) at an intra-day 10:40am. Such is rarely good news and so what about the latest from this self-styled “data and technology-focussed professional services company”?…
Hello Share Shapers. Normally, this old punter avoids firms in the ‘defence’ sector. I find that defence can mean offence and the thought of my money killing and maiming people is something I want now’t to do with. But Avon Protection (AVON) keeps safe soldiers and police men and women, which is a different kettle of fish.
Writing on online prize competitions company Best of the Best (BOTB) in May with the shares at 2775p I noted house broker finnCap’s forecasts of earnings per share of more than 143p for the just commenced year and 165.5p for the year after that compared to 37.5p for the company’s year ended 30th April 2020 and that there has surely been lockdown benefit to it in the subsequent period (last year’s earnings per share 122.5p), stating concern on the sustainability of some of the recent earnings. Today there has been a “Trading Update” – and the shares have collapsed to 830p!
Defence and related markets products and services company Cohort (CHRT) has announced a trading update including “Net funds stronger than expected at c.£2m (30 April 2020: net debt of £4.7m; 31 October 2020: net debt of £6.1m)… order book of c.£240m (30 April 2020: £183.3m)… we see good prospects for further significant new orders”. Why then are the shares currently, at 636p, more than 5% lower in response?…
A “trading update” announcement from infection prevention and contamination control products company Tristel (TSTL) yesterday morning saw the shares down approaching 16% at 563p as I then wrote. What then of CEO Paul Swinney having since purchased shares at 572.75p each?
The AGM of LED lighting, electronic and electro-mechanical systems group LPA (LPA) was today and there is an accompanying “AGM Trading Update” announcement. Should be routine-enough then… but the shares are currently at 75.5p in response, down approaching 12%!…
A trading update from Yourgene Health (YGEN) commences that “the stronger trading patterns being observed in H2 compared to the first 6 months of the financial year mean that double-digit revenue growth is expected for the full year” (to 31st March 2021). However, the shares are currently around 9% lower in response, at circa 12p, with the update also including “the ongoing impact of COVID-19 on ordering patterns in UK and international commerce is expected to result in full year revenue being below consensus market estimates”. Having spoken to the company, here’s the detail…
Previously writing on remote meetings technology group LoopUp (LOOP), in July with the shares at 177.5p I questioned how sustainable the net cash generation? The shares went on towards 250p, but last closed at 155p and are currently well below 100p on the back of a “Trading Update”…
I have warned and warned that AIM-listed Haydale (HAYD) would need more money and as ramptastic RNS after ramptastic RNS has been issued by the company as it has joined the Covid-bandwagon, despite a calamitous profit warning in April the shares have been rising and rising. Today, they stopped going up: is there a placing on the way? Do we need a statement from the company?
After last week’s jam-tomorrow ramparoonie, today AIM-listed Haydale (HAYD) offered up a calamitous profit warning. Oh dear, oh dear, oh dear…..
If you ask me to name five 'quality' longer-term FTSE-100 constituents, then I would probably include Johnson Matthey (JMAT) on that list. Naturally though, its corporate longevity and range of typically high barrier to entry businesses (recycling and refining of precious metals, clean air and car emissions regulation focused, plus batteries and value-adding fine chemicals) has not stopped it avoiding the recent plunge. Today's update (thanks to the FCA for allowing this – you know my thoughts on the postponement / suppression of reporting) includes a profit warning, but that is par for the course, although with a bunch of cost suppression comments…
Writing on agriculture feeds and engineering group Carr's (CARR) in January with the shares slipping below 150p I concluded stated to be “predominantly driven by seasonal working capital movements” – though not wholly driven by them, then? Together with the now reliance on a greater than normal second half weighting, at least ahead of further insight (half-year results, for instance, are scheduled for 15th April), I avoid. Today “Trading Update”…
Describing itself as a “global provider of human capital and business improvement solutions”, Mind Gym (MIND) has updated commencing; “Underlying trading remained strong between the half year-end (30 September 2019) and the end of January 2020, however”…
A “Trading Update” announcement from Aeorema Communications (AEO), an “AIM-quoted live events agency”. Uh oh…
A “Coronavirus update” from self-styled “next generation global events business” Hyve Group (HYVE) commences that “Hyve has been taking decisive and rapid management actions to mitigate the potential impact to our business” and includes that it “continues to be highly cash generative and, following the refinancing that the group undertook in December, has material headroom available on the debt facility and expects to operate within the covenants”. The shares, having been above 100p as recently as early last month and last closed at still above 70p, have currently responded towards 60p…
A Friday “Trading Update and Impact of Coronavirus” announcement from industrial chains and related power transmission products company Renold (RNO) failed to halt a falling share price – and now both Chairman Mark Harper and Finance Director Ian Scapens have responded buying shares…
“Beeks Financial Cloud Group plc (AIM: BKS), a cloud computing and connectivity provider for financial markets, is pleased to announce its unaudited results for the six months ended 31 December 2019”. After recent falls, not a significant share price bounce currently though…
A “COVID-19 Update”, intra-day (2:15pm) from “the UK's leading online retailer for beach holidays”, On the Beach Group (OTB). Uh oh…
Early last month I noted on Topps Tiles (TPT), the shares have recovered from nearly re-hitting in November the sub 65p of my prior update to a current circa 75p. From here, certainly at least before clear evidence of improvement… I continue to avoid. The shares closed yesterday at 78.6p but are currently heading towards 60p on the back of a “Trading Update”…
Spend management software and services company Proactis (PHD) has updated including commencing “the group's announcement on 29 April 2019 outlined a revised strategy that included improving the rates of winning new customers and the retention of existing customers. Since then, the group has restructured its operations and the board is encouraged to be able to report that the group has delivered well against this strategy during the six-month period to 31 January 2020” – and the shares have responded to 48p, 20% higher, though still well down from more than 100p even less than a year ago…
Previously writing on bathroom and kitchen products company Norcros (NXR), in October I reviewed how’s ‘play it safe and bank the gain here. Sell’ looking approaching a year on? – concluding suggesting increasing difficulties with a reliance on winning market share. Meanwhile, acquisitions still bring greater elements of risk. Thus, whilst at a current circa 220p the shares look cheap, I currently remain on the sidelines here. The shares last closed at 291p but are currently sliding on a “Trading update and impact of the Coronavirus”…
The largest specialist fishing tackle and equipment retailer in the UK, Angling Direct (ANG) has updated including “in-store sales were £27.9 million, an increase of 41.3% on the prior year period and up 12.0% on a like-for-like basis” and “online sales grew to £25.2 million, an increase of 13.3% on the prior year period”. The shares have currently responded to around 60p – circa 13% lower. Hmmm…
Having previously updated in December including “we continue to face political and economic uncertainties which have contributed to a challenging first two months of the fiscal year”, though with “our business model is robust”, now an “AGM Statement” from ventilation systems and window and door hardware company Titon Holdings (TON) – and the shares currently at 87.5p, more than 20% lower…
Subsea protection systems group Tekmar (TGP) has updated including that it “now expects that the group's earnings in FY20 will be broadly in line with those achieved in FY19”. That is with it having announced half-year adjusted earnings per share of 2.2p, comparing to -4p for the first half of the prior year and 6.2p for that full-year – and the shares are currently responding back to around 120p, more than 20% lower…
Previously writing on castings and engineering group Chamberlin (CMH), in December I questioned do contract awards justify the current approaching 90% share price rise? – concluding, with the shares at more than 40p, I’ll monitor for some sustained improved trading momentum but the financials at this juncture see me certainly continue to avoid. There’s now followed attempted no-one watching o’clock “Trading Statement”, research update and “Holding(s) in Company” announcements…
Previously writing on Scapa Group (SCPA), in June I concluded the shares were already down from approaching 400p following the results – and are currently down a further more than 40%, below 170p on this latest. I note the stock has been a feature of our weekly Table of shorted AIM shares, though I suggest there may now be some value from here. However, the uncertainty seemingly everywhere with this company currently, sees it, for now, only on my watchlist. The shares last closed at 272p… but are currently back below 200p…
Previously writing on marketing services group System1 (SYS1), in November I concluded its stated upside potential is still very much to be proven and the shares only on the watchlist. Today “Trading Update and Planned Share Buyback”…
Previously writing on security and surveillance systems group Petards (PEG), in September with the shares down to 16p I noted the balance sheet position despite noted profit and concluded also cautious of its still reliance on a second half weighting, I currently avoid. Now a “Trading Update”…
NAHL Group (NAH) has updated on trading including its Critical Care division “traded well”, Personal Injury division “marginally ahead of expectations”, “confirms that its guidance for 2019 underlying earnings will be within the range previously announced” and “the board is encouraged by the progress made in transforming the business”. The shares have currently responded towards 50p – er, more than 45% lower!...
Previously writing on self-styled “a leading provider of innovative, highly engineered technology products principally for the global gaming and broadcast industries” Quixant (QXT), in September with the shares slumping to just over 160p I questioned were even reduced forecasts realistic given customers have informed that order levels will not return to previous levels through “at least” the first half of 2020. Now a “Trading Update”…
Previously writing on windows and doors manufacturer and retailer Safestyle UK (SFE), with the shares around 66p I questioned how good really was its argued “delivered good progress”. The shares were rising towards 80p earlier this month, but are currently back to around 60p on the back of a trading update…
AIM-listed online Women’s wear peddler Sosandar (SOS) delivered a Christmas trading update this morning. Bearing in mind that I was previously very bullish on the company, but lost faith as management strategy appeared to change with the wind, I was fascinated to see if I was still comfortable with having sold out, or had perhaps been too much of a pessimist.
Self-styled “leading B2B media business” Bonhill (BONH) has updated including that it “now expects EBITDA for the year to be £2.3 million, being lower than market expectations as approximately £0.25m of custom marketing contracts which had been expected to be delivered in December 2020 will now be delivered in Q1 2020” but that “the outlook in both the UK and US is greatly improved, reflected in the current level of bookings being received” – so a current more than 5% share price fall, to a £17 million market cap fair?...
So I see that Intu Properties (INTU) fessed up to the need for a massive cash raise as I mused upon yesterday, a disclosure which has pulled down the shares over 5% as I write. However, it is a bigger share price fall that is grabbing my attention this morning…
Character Group (CCT) has updated including “we enter the 2020 calendar year with a very strong product portfolio and, although the first half results will be below last year, we anticipate that the group will deliver one of our strongest second half performances to date”. The shares have currently responded to around 330p – circa 13% lower on the day. Fair?...
Previously writing on technical fluid power products company Flowtech Fluidpower (FLO), despite house broker finnCap looking for a full-year underlying pre-tax profit rising above £12 million, generating earnings per share of 16.5p – up from 2018’s 14.7p, I noted concern regarding the ability to deliver “another year of solid progress”. Now “Trading Update - for the year to 31 December 2019” commencing; “Market conditions in the second half of 2019, in particular the final quarter, have been challenging”. Uh oh…
Previously writing on cleaning and hygiene products manufacturer McBride (MCB), in July I concluded with the shares then down a further more than 10%, below 70p, that my stance remains bargepole / sell. The company “today provides a trading update for the six months ended 31 December 2019”. Uh oh – not ‘is pleased to provide’?...
“Owner and operator of 47 premium pubs across Southern England and Wales”, The City Pub Group (CPC) has announced a “Year End Trading Update”, including “the board is pleased with the overall performance of the group for 2019”. The shares are currently at 197.5p – er, more than 9% lower on the day!…
Card Factory (CARD) has updated commencing “group revenue year-to-date of +3.6% (2019: +3.4%) with like-for-like sales -0.6% (2019: -0.1%)” and including “the board remains committed to its previously stated dividend policy”. The shares have currently responded to 100p – er, more than 28% lower!...
Catenae Innovation (CTEA) snuck out another profit warning on Friday at 5.02pm – truly no-one-is-watching o’clock, telling the market that its trading performance continues to be below management expectations as notified on 11 September and its financial position remains weak. Oh dear, of dear – things aren’t getting any better for the former Milestone Group (MSG) showing once again that Warren Buffett’s adage that when a bad company meets good (or only slightly better) management, it is the reputation for the former which prevails.
Warpaint London (W7L), “the specialist supplier of colour cosmetics and owner of the W7 and Technic brands”, commences a “Trading Update” with that it “is pleased to announce that it currently anticipates that group sales for the financial year to 31 December 2019 will be approximately £50 million, in line with the guidance provided in the company's trading update on 6 August 2019”. The shares have responded to around 70p – more than 14% lower!...
Just over two weeks ago, half-year results highlights from “diversified industrial engineering company” The 600 Group (SIXH) included “Positive outlook… Interim dividend of 0.25p per share reflecting the board's confidence”. Now, so soon after, there a “Trading Update”?…
Previously writing on recruitment and training group Staffline (STAF), in June with the shares above 100p I noted 2018 results (eventually), proposed bailout fundraising & directors 'avin a laugh?, concluding it’s also clearly challenging trading and that’s enough for me at this juncture to continue to avoid. Today “Trading Update” and “Directorate Change” – rarely a good combination…
Previously writing on self-styled “provider of software and services for Enterprise Innovation Management and Strategy Execution Management”, Sopheon (SPE), I questioned in July no change in “expected commercial momentum”, concluding, with the shares at 800p, with what is currently being delivered and clear commercial momentum risk, avoid / sell. Now “Trading Update”…
I wonder what the M&C Saatchi (SAA) Christmas party will be like this year? Judging by today's regulatory news update, I would be tempted to cancel it – if it was going ahead in the first place. You may recall that I have written twice about the advertising company - most recently here back in September - talking about its slow car crash involving both an accounting scandal and depressed profits. Today's update provides clarity on the former, but provides another slice of trading gloom. And the shares? Down 40% from already depressed levels as I write. It is going to have to work hard to advertise this positively...
“Pelatro Plc (AIM: PTRO), the global Multichannel Marketing Hub software specialist, is pleased to announce a significant contract win and an update on trading” – and the shares are currently circa 30% higher, at above 50p, in response – should be all good then…
A “Trading Update” from ‘image capture and content creation’ products and systems group Vitec (VTC). This follows a September-announced resignation of Finance Director Kath Kearney-Croft, though it reassured then “the outlook for 2019 is unchanged”. So this latest trading update ok then?...
A “Trading Statement” from learning and skills company with courses delivered on sites in London, Manchester, Singapore, Malaysia and online, Malvern International (MLVN) includes “full year revenues are now expected to be modestly ahead year on year… the board expects to report a positive underlying EBITDA for the year… The board with its new members believes that it is pursuing the right strategy in diversifying its product offering and locations”. The shares have currently responded to comfortably below 1p – er, circa 50% lower!...
I previously wrote on STM Group (STM) in late 2017, concluding, with the shares having been recovering back above 40p, that with uncertainty together with the tardiness of its announcements, if I owned I’d currently sell and await further developments. Latest results in September included it looking to “round-off a solid performance for the year” – and “the cross border financial services provider, today provides the following update on trading” (not ‘pleased to provide’ then?)...
Previously writing on self-styled “global leader in LED lighting for heavy industrial applications” Dialight (DIA), in August I questioned “increasingly well positioned”, concluding the current reality though, rather than the jam tomorrow, sees the shares presently back towards 350p – and, with the market cap still more than £100 million, the risk/reward at this juncture still sees my stance sell / avoid. Today a “Trading Statement”…
In August Nigel Somerville noted that Neil Woodford will be reading the half-year results of Non-Standard Finance (NSF) – which he put his weight behind in its takeover battle with the rather larger Provident Financial (PFG), which he also owns. But NSF lost that battle and this morning Neil learns that the whole exercise cost it £12.7 million. Those results at least though also emphasised “whilst macroeconomic uncertainties remain, the group remains resilient and well-placed to meet its objectives”. Today a “Trading Update”…
Previously writing on homewares group Portmeirion (PMP), in May I noted after less than 2 months ago “we look forward into 2019 with confidence” … a significantly below market expectations profit warning, concluding, with the shares lower towards 900p, and with I also having previously noted from “expect profit before tax to be in line with market expectations for the full year” to “pre-tax profits are expected to be materially below” in less than two months, to avoid. The first ‘Headline’ of its 1st August-announced interims was “First half results are in line with our expectations set out in the 14 May 2019 trading update and we anticipate achieving full year expectations” – and now a “Trading Update”…
Writing on B2B media group Bonhill (BONH) in July I concluded, with the shares then around 65p, with a still more than £30 million market cap, the noted risks to expectations (a £4 million+ full-year profit has been anticipated) see me avoid. The shares closed yesterday at 53.5p and now a “Trading Update”…
Previously writing on self-styled “leading commercial kitchen services provider” Filta Group (FLTA), in August last year with the shares at circa 230p I concluded precious little Benjamin Graham ‘margin of safety’ (“for absorbing the effect of miscalculations or worse than average luck”). Possibly one for the watchlist for a better entry level, but currently, with the potential reward v. risk trade-off looking heavily tilted to the latter, one I avoid. Today a “Trading Update”…
Previously writing on automotive retailer Lookers (LOOK), in July I questioned “extremely well positioned to take advantage of the many opportunities”?, concluding I was unconvinced and the outlook saw my stance bargepole / sell. Now “Trading Update & Board Changes”. Uh oh – those together rarely good news…
With its shares already down from 700p+ in 2017 and more than 450p as recently as May to a prior close 187p, a “Trading Update” from self-styled “the world's premier currency and authentication provider” De La Rue (DLAR)…
Provider of infrastructure services to the UK housebuilding and commercial sectors, Nexus Infrastructure (NEXS) has updated with a headline “Profits for the full year expected to be in line with market expectations” and a statement including “the continued growth in our order book provides us with strong visibility of future earnings and gives us confidence in the future… The board believes that the group is in a strong position to deliver consistent organic growth, aided by the structural undersupply in the UK housebuilding market and Government stimulus for the sector”. The shares have responded up to 140p – though that down from 216p reached in April. Hmmm…
A “Trading update” from bricks and other masonry products manufacturer Forterra (FORT). This was a recent years Neil Woodford pick – and so take a guess of how trading’s going…
In June, with the shares at 220p, I stated on business software, cloud and managed services group K3 Business Technology (KBT) “Trading Update” = Profit Warning Deferral?, questioning the ‘prolonged customer decision-making processes’ really all due to Brexit-related disruption?, “the benefits of transformation initiatives” really coming through across all key areas of activity? Now another “Trading update”…
Building materials group with “leading regional or national positions in the merchanting markets in the UK, Ireland and the Netherlands”, Grafton (GFTU) has issued a trading update for the third quarter of 2019 – this “brings forward a planned update scheduled for 12 November 2019”. Uh oh – that doesn’t tend to be a good sign…
In June Castleton Technology (CTP) argued “another year of significant progress” and “the combination of a healthy pipeline of new business, together with our new development capabilities and our improved organisational structure, give… confidence for the year ahead and… expect that we will show continued progress in both our financial and operational metrics when we next report”. Now is a next report…
A “Trading Update” from pipe and tubing assemblies company Tricorn (TCN) – and the shares currently at 12p, down more than 33% on the day…
I last wrote about the 'leading European supplier of building materials' SIG (SHI) back in early July, observing that it was failing to cost-cut its way to growth due to the business being operationally/economically geared. Well the latter points are very obvious today with a trading update which notes a 'deterioration in trading conditions has accelerated over recent weeks, and political and macro-economic uncertainty has continued to increase'. Oh dear...but today's 22% share price fall has pushed the shares below 100 pence...
Early August interims from Zotefoams (ZTF) included “we expect Zotefoams to deliver further growth in 2019 and meet market expectations”. Now a “Trading Update” – and the shares currently at around 350p, circa 35% lower on the day!...
Previously writing on Coral Products (CRU), in May I questioned director share purchases... but inspiring confidence?, concluding the announcement still doesn’t really inspire faith in the board’s confidence in its strategy and look forward to a year of continued improvement and, with the shares above 8p, I continue to avoid. Today the shares are currently down from 7p towards 5p on the back of an “AGM Statement”…
Oh dear, oh dear, oh dear. It is a recurring nightmare for Neil Woodford’s disruptive play on all things sleep related as AIM-listed Eve Sleep (EVE) has announced yet another profit warning as the company also announced that merger talks with Simba are all off. It is enough to disrupt even the heaviest of sleeps and the shares have opened 28% down – and are still falling.
“Petards Group plc (AIM: PEG), the AIM quoted developer of advanced security and surveillance systems, is pleased to report its interim results for the six months ended 30 June 2019” and “remains confident in the group's future prospects”. The shares have currently responded to 16p, capitalising the company at £9.2 million – er, approaching 18% down…
On 23rd July it was “Quixant (AIM: QXT), a leading provider of innovative, highly engineered technology products principally for the global gaming industry, is pleased to provide an update on trading for the six months ended 30 June 2019... H1 2019 was completed as we expected and reported in March, with the lower than anticipated consumption of some major customers improving as we enter the second half… a growing order book during H1 positions us well to deliver a strong second half to the year… The company's interim results for the six months ended 30 June 2019 are expected to be announced on 24 September 2019”. Now, 17th September, “Interim Results”. Hmmm…
On 26th June “Trackwise Designs Plc (TWD), a leading provider of specialist products using printed circuit technology” updated including it “is currently trading in line with market expectations” and emphasising “operational progress and continued growth in customer numbers”. Its today-announced results for the first half of 2019 should be decent enough then – and indeed the company “is pleased to announce” them, with the statement including “Trackwise has made solid progress against its strategic objectives in the first half of the year” and “we continue to manage the resources of the business prudently”…
“Alfa Financial Software Holdings PLC ('Alfa') provides the following update on trading, ahead of its interim results which will be released on Thursday 26 September”. Hmmm – why such an update so close to the results announcement? – and not ‘pleased to provide’ I immediately note…
Away from being an investment geek and spending time with the family, one of my favourite hobbies is cycling. Like a complete sad-o, for the last ten days or so, I have been putting my static bike in front of the TV and pedalling away whilst watching highlights of the Vuelta (the three week grand tour of Spain for pro-cyclists) but it is getting out and about in the fresh air on the bike that does it for me. So I know a little bit about cycling and my personal consumer view of the space is: I don't need to go to Halfords (HFD)...
Previously writing on digital inkjet technology company Xaar (XAR), in March with the shares sliding below 115p I concluded the cash burn and current clear trading challenges see me note that “strong portfolio” still very much has to be proven – and to currently retain a stance of avoid. That was with the company having updated including “we are confident that the transformation we are undergoing will lead us to become a more diversified and customer-centric organisation, with an appropriate balance between established and developing technologies. We remain focused on delivering the benefits of our strong portfolio and technology advantages to shareholders”. Today a “Trading update & revised date for interim results”. Doesn’t sound encouraging!...
Maintel Holdings (MAI) has updated including first half of 2019 “adjusted earnings per share at 30.0p (H1 2018: 25.9p)… interim dividend per share proposed at 15.1p (H1 2018: 15.0p)” and that it “continues its transformation into a cloud and managed services provider with growth of 32% in unified communications seats on our ICON cloud platform and revenues from cloud and software customers now representing 20% of overall turnover… Underlying demand for our services remains high and our new business pipeline remains strong with some significant project opportunities”. The shares have responded to 425p – er, approaching 3.5% lower!...
Hello, Share Creepers. When one prefers posh shoes, one visits charity shops in superior locations. Recently, I was delighted to discover that a pair of Bally brogues I acquired for £5 are - if bought new - about £650. At the other end of the price scale is the high street chain of Shoe Zone (SHOE). I live close to a branch which always has real bargains in the window...
Previously writing on Gulf Marine Services (GMS), in December I noted warns but argues there will be longer-term improvement; It’s got to be around for that first though! – concluding still bargepole / sell as the shares slumped below 10p. Today a “Corporate & Board Update”…
A trading update from Brady (BRY) commences; “Brady plc (BRY.L), a leading global provider of trading, risk management and settlement solutions to the energy and commodities sectors, announces that, over the course of the first half of 2019, Brady has had positive engagements with existing customers, and the recurring revenue is in line with expectations”. The shares are currently around 35p – down more than 35% though!...
CEPS plc (CEPS) has made an intra-day (1:07pm) “Trading Update”. I thus suspect it ain’t going to be good…
Previously writing on Corero Network Security (CNS), in January I noted 2018 disappointment follows 2017 disappointment, and 2019…, finishing I previously concluded, with a long track-record of cash burn and a market cap now of more than £45 million, my stance presently remains avoid / sell. The market cap is still currently slightly higher, but the track-record is unchanged – and so too is my stance. Avoid / sell. The market cap was down towards £25 million at yesterday’s 6.3p share price close – and now “Trading Update”…
Self-styled “leading provider of outsourced digital transformation and mobile payment solutions” Mi-Pay Group (MPAY) has updated including “trading for the first half of 2019 was broadly in line with management's expectations… two major contracts were renewed with clients representing 43% of the 2018 revenue during the period and strong operational metrics were delivered”… The shares are currently approaching 20% lower, below 8p. Hmmm…
A “Trading Update” from On the Beach Group (OTB), “the UK's leading online retailer for beach holidays”. This following the company reckoning in May “the resilient and flexible nature of our business model allows us to focus on profitable growth and gives us confidence in the group's outlook” but we reporting the following month, with the shares then at 460p, that a Top broker predicts THREE profits warnings, lashes poor quality of City analysis. And now…
Previously writing on Pennant International (PEN), in May, with the shares falling below 100p, I noted “potential delay” of a major contract & director spoofing concluding that the director share developments and clear order challenges saw my stance to sell / bargepole. Now a “Pre-Close Trading Update”…
Cosmetics company Warpaint London (W7L) has updated including that it “continues to see encouraging international sales growth, in particular in the EU and the US”. But what about overall performance? – the shares are currently below 60p, approaching 30% lower on the day. Uh oh…
Early last month freight management services company Xpediator (XPD) announced board changes including seeing “the Operating Board now consists of eight extremely experienced, energetic professionals and we are well positioned to take the business forward to the next stage”, with “trading in line with market expectations. Demand for freight management services remains strong across all three divisions and the group is benefiting from increased activity”. No fears re. a “Trading Statement” today then, surely?…
Previously writing on supplier of audio and visual content to organisations Immedia Group (IME), in May with the shares at 22.5p I concluded certainly it’s the cash flow to be monitored here currently – and I’d listen to the market and currently avoid. Today an intra-day (10:27am) “Trading Update”. Uh oh…
From automotive retailer Pendragon (PDG) last month, it was “Outcome of Financial & Operational Review”… as suggested, it ain’t positive!. Today a half-year trading update from peer Lookers (LOOK)…
Previously updating in early May, “data science led agency and consulting business” Jaywing (JWNG) noted “a year of solid progress… We have seen encouraging growth in Epiphany, our online performance marketing division, and also in our fast-growing operations in Australia… Jaywing will announce its preliminary results for the year ended 31st March 2019 in July” but also “ongoing challenging market conditions within the UK and continued uncertainty surrounding its anticipated withdrawal from the European Union”. Now a further “Trading Statement” – and at an intra-day 11:37am. Uh oh…
Remote meetings technology group LoopUp (LOOP) has updated on trading commencing; “The group continues to see strong demand for the LoopUp product. In addition to a £2.34 million contract renewal with leading global law firm, Clifford Chance, new landmark accounts wins during H1 2019 include a major European investment management association, a leading television broadcaster in Australasia, the world's largest private dispute resolution provider, and numerous major international law firms… However,”… Uh oh…
An announcement from industrial applications LED lighting company Dialight (DIA); “Trading update and Directorate changes”. Those two together don’t tend to bode well – and we also cautioned here on an April update which emphasised “continued to make progress in our recovery”, but also included “results to be heavily weighted to H2, reflecting both the ongoing resolution of our operational issues and normal industry seasonality”…
Craneware (CRW) has updated commencing that “the group has continued to make progress on its long-term strategic aim to become ubiquitous in US Hospitals, as the intelligence layer sitting across all other systems, delivering the information required to improve financial and operational performance” and including CEO Keith Neilson stating that “as we close our financial year, we continue to look to the future with high levels of confidence”. The shares are currently around 2000p (currently equating to circa $25.35) – Er… down more than 30%!...
An 07:41am “Trading update” from floor coverings company Airea (AIEA). Hmmm – a difficult sector currently and a rushed ‘update’?...
A 1st May AGM trading update saw project management group RPS (RPS) state “the Australian property market, as anticipated, remained subdued. However, the transport sector was strong, and the acquisition of Corview in February 2019 further strengthens the group's position in this market. There are indications of improved performance in both segments in the second quarter”. Now a further trading update; “in Australia”…
Not so long ago Neil Woodford was telling his investors that fully-listed Kier Group (KIE) was just the perfect investment. Then came the rights issue which flopped and fell to the underwriters. And then came the admission that it had mis-stated its debt position. And then a new CEO who immediately launched a strategic review. And then a profit warning. And yesterday The Times reported that Kier was looking at off-loading its house building arm as its suppliers were being refused insurance on Kier’s bills. But of course Neil knew best: as the shares collapsed from well over £8 a pop ahead of the rights issue fiasco to close yesterday at a new low point of 130.8p, until his Equity Income Fund was gated, Neil was keenly buying up ever more of Kier’s shares,, taking his stake to 20% at the peak.
In April I wrote on automotive retailer Pendragon (PDG) update suggests ‘operational and financial prospects’ review ain’t going to be positive. The shares were then around 23p and are now falling well below 20p on the back of “Outcome of Financial & Operational Review”…
I have been in a Ted Baker (TED) shop and - as it happens - I do have a couple of Ted Baker-branded items. I have never really worked out why it was successful though and certainly - erroneously it seems for many years - have never got to close to actually investing in the retailer. Given the share has fallen today to a six year plus low, I am not that disappointed…
Its previous coverage on this website was Nigel Somerville’s Easter Red Flags at Night: Modern Water FY results a washout – SELL!, now an intra-day (10:55am) “Trading Update” from Modern Water (MWG). I’ve got a feeling this ain’t going to be a positive update!...
Previously writing on automotive acoustic and thermal insulation group Autins (AUTG), in March I noted the shares up to 34p to buy on the back of Chairman & CEO (though the announcement doesn’t seem sure!) share purchases. However, I noted these small and following results showing finances further deteriorating. Now a “Trading Update”…
Business and company sales group K3 Capital (K3C) has updated commencing, “The board is very pleased to report that adjusted EBITDA is expected to be at the upper end of the market guidance provided in the recent trading update on 5 April 2019”. Hmmm – adjusted EBITDA and why not remind of what that prior ‘market guidance’ was?...
Previously writing on Gooch & Housego (GHH), in April I stated announces “in line with management's expectations”… but not with expectations less than 6 weeks before the period-end!. On half-year results, the shares are though further materially lower today…
Oh dear, oh dear, oh dear. I can’t help it: I told you so. Shares in fully-listed Kier Group (KIE) have dropped by 40% (last seen) this morning, after a big profit warning, to just 165p. Neil Woodford – who knows best – had been hoovering up stock all the way down since the calamitous rights issue last December at 409p – itself a huge discount to the price Woodford was paying when he first bought in. It is yet another in a long stream of terrible calls by the great man, but I wonder if it will prove to be the last. But heck, the £50 million up in smoke on this call alone today is only other people's money.
From castings and engineering group Chamberlin (CMH), an intra-day (12:35pm) “Trading Update”. Uh oh…
A “Trading Update” from Netcall (NET) – and the shares currently down more than 9%, at 51.5p, on it. This despite “cloud bookings have continued their strong performance with year over year growth of 160% to £6.5m”, including “public sector customers ordering the group's newly launched Low-code cloud offerings”…
Previously writing on LED lighting and electro-mechanical systems group LPA (LPA), in March I concluded, with the shares at 114.5p, ahead of detail of just how much the first half has been ‘affected’, I’d suggest at best on the watchlist. I currently continue to avoid. Now an intra-day (3:43pm) update (uh oh), but it a “Trading Update & Contract Wins”. Hmmm…
Writing on content software tools and cloud services business Stilo International (STL) following results in March, I questioned “significant financial overheads associated with being a public listed company” worth it? – and concluded, though the shares then down to 2.35p, to avoid / sell. Now, on the back of a “Trading Statement”, the shares are down at below 1.5p…
“Trading Update” and “Change of Leadership” announcements from Low & Bonar (LWB). I’m guessing the former ain’t going to be good then!...
Previously writing on recruitment and training group Staffline (STAF), in March I concluded announced contract wins likely useful further business – though not sufficient to alter a view that some clean delivery with strong net cash generation is now required here (and that before even considering any Brexit-related future uncertainties). Today a “Trading Update” commencing, “The ongoing Brexit uncertainty is impacting the UK labour market”. Uh oh…
“UK focused retailer and manufacturer of PVCu replacement windows and doors for the homeowner market”, Safestyle UK (SFE) has updated commencing; “Following the progress made during H2 2018 in stabilising the business, phase two of our turnaround plan is now well underway. Our focus for phase two continues to be on recovering volumes and market share, restoring our operational effectiveness, reducing our costs and enhancing our margins. We remain on track to conclude this phase at the end of 2019 and then plan to move into phase three in 2020 which has a primary focus on accelerating our growth”. Sounds decent enough – and the shares have currently responded… er, to below 80p; circa 15% down!…
Portmeirion, Spode, Wax Lyrical, Royal Worcester and Pimpernel ceramics and home fragrances group Portmeirion (PMP) has updated on trading. With 21st March-announced results having included “we look forward into 2019 with confidence”, should be ok…
Previously writing on touch sensors company Zytronic (ZYT), in October - with the shares at 387.5p - I cautioned despite the company arguing “several opportunities in its pipeline with the potential to improve future performance materially”. Today a further “Trading Update”…
Less than two years ago provider of infrastructure services to the UK housebuilding and commercial sectors, Nexus Infrastructure (NEXS) was, at 185p per share, “delighted to announce the successful completion of our IPO on the AIM Market… as a quoted company we look forward to the future with confidence”. The company’s December 2018-announced results were headlined “Delivery of profits in line with management expectations and strong order book provides forward earnings visibility” – and now a “Trading Update and Notice of Results”…
Geotechnical engineering company Van Elle (VANL) has updated commencing, “The business continues to make good progress on its transition plan, announced in January”. The shares have responded higher – but a still sub 50p share price compares to 80p at the start of 2019…
A “Directorate Change” announcement follows an “Interim Management Statement” from automotive retailer Pendragon (PDG) – and the shares, at around 23p, are currently more than 10% below levels of earlier this week…
Previously writing on technology services provider to the entertainment industry, Zoo Digital (ZOO) it was in January from November “confident in the prospects” to now “significantly below expectations” – I concluding with the shares heading towards 60p that, despite CEO Stuart Green arguing “we are now enjoying a growth in orders from our largest clients and expect to add significant new accounts during the remainder of the second half”, to continue to avoid. Now a “Year End Trading Update”…
Previously writing on “manufacturer of fine tolerance injection moulded plastic parts mainly for the medical, automotive lighting and optics markets” Carclo (CAR), I concluded in January, with the shares then down to 55p, that the current result is a mess – and hopefully my prior caution was heeded. Still an avoid / sell. Now a “Year-End Trading Update” – and the shares currently down to around 20p!...
A yesterday after-market-close, 4:55pm, “Update on Trading” from plastic injection moulding and tooling, engineering products and boards and panels manufacturing group Tex Holdings (TXH). I’m guessing it ain’t going to be a positive one…
Previously writing on online gaming operator Stride Gaming (STR), I noted in November having been set to record a provision of £4m… £7.1m Gambling Commission fine. In February this year, the company updated including “trading performance since the start of the financial year has been broadly in line with the board's expectations”. Now a further “Trading update”…
A “Trading Update” from business and company sales specialist in the UK, K3 Capital (K3C)… and the shares currently at 135p in response – down more than 15%. Uh oh…
Whilst I wish the newly appointed Intu (INTU) CEO the best of luck (but surely as the old CFO he knows all the structural issues and a lot more) and I see Debenhams (DEB) continues to try to change whilst having materially negative like-for-like sales (not easy to say the least), the key regulatory news statement for me today has to be Saga (SAGA)...
In December I again cautioned on instant-service vending equipment provider Photo-Me International (PHTM), noting a reliance on a swift about-turn from “large order lags” in the current macro climate as the shares headed below 100p. Now, with the company’s year ending this month, a trading update…
Announcing a £54 million equity raise at 15p per share towards the end of January, Low & Bonar (LWB) emphasised “a number of key strategic initiatives to drive sustainable improvement in the group's performance and financial position were implemented during Financial Year 2018. Progress has been made in all of these areas… Further initiatives will be implemented during Financial Year 2019 and the board is confident that these actions will build a stronger business and one capable of delivering sustainable growth and attractive, sustainable returns”. Today a “Trading Update”…
Online retailer MySale (MYSL) has announced results for its half-year ended 31st December 2018, including CEO Carl Jackson stating “performance during the first half was disappointing, however we took immediate action to address the issues the group faced”. Already down from 35p before December-announced own goals, the shares are though currently materially further lower today – at around 12p…
Late November-announced half-year results saw Joe Grimmond, Chairman of “specialist in the design, manufacture and supply of plastic products” Coral Products (CRU), emphasise “delighted with the performance of the business in the first half… I am pleased to report that results to date are well ahead of the same period last year and that, in spite of the prevailing uncertainties of Brexit we remain confident of the groups future prospects”. And less than two weeks ago CEO Mick Wood was emphasising “it is an exciting time at Coral… we are proud to introduce a bespoke recycling unit into our business… confident that this recycling unit will help propel our business forward”. No worries for a trading update today then…
Previously writing on MediaZest (MDZ) last month, I commented contradictions everywhere – including that it “continues to make progress”. Now a “Trading Update”…
Last month one of the five had its denouement as AIM-listed Haydale (HAYD) had an emergency bailout - as long predicted by me - at only 2p. That left just four. My suspicion was that AIM-listed member of the Filthy Forty, Walcom (WALG) would be next with its head under the guillotine and the news there was only marginally better as death has been postponed to June.
Previously writing in December on women's clothing and accessories retailer Bonmarche (BON) it was “extremely poor” sales, though argues “confident in the strategy” & “well prepared to weather the storm”. Really?. Today a further “Trading Update”…
Writing on professional services consultancy to the construction and engineering industries, Driver Group (DRV) on Monday it was from “transformative turnaround” to profit warning… in 3 months! – and the shares closed at 52p, having been above 70p last week (though with a noticeable fall on the Friday – hmmm!) and above 80p in December. There’s now since followed three “Director dealing” announcements…
“Xaar plc (XAR), a world leader in industrial inkjet technology, provides an update in advance of its forthcoming preliminary results”. This including “the integration issues experienced leading to the delays are now behind us and sell-through is expected to increase. Furthermore, the minimum volume commitments from our supplier have now been met. The company will announce its preliminary results on 21 March 2019 at which time it will also provide an update on its review of strategic options for more extensive partnering in the Printhead business unit”. Having also provided a trading update on 28th December, why a current 6% share price fall today though, to below 130?...
December-announced results from professional services consultancy to the construction and engineering industries, Driver Group (DRV) emphasised “significant improvement on all fronts… Awarded Large Company Turnaround of the Year at the national 2018 Institute for Turnaround Awards… The transformative turnaround in Driver Group's fortunes reflects a job carefully judged and executed” and a “positive start to the new financial year”. But pride comes before a fall…
“Accident management and legal services” company Redde (REDD) has made an intra-day (12:18pm) “Contract Update” announcement. I’m guessing this ain’t going to be good news…
Previously writing on Goals Soccer Centres (GOAL) in January it was own goal as goes from “optimistic” to profit warning in 4 months – with I concluding, despite the shares then heading down towards 60p and the company arguing “it is anticipated that during 2019, considerable headroom will be generated”, that “anticipated” can be very different to reality – and particularly with also the “current economic and political uncertainty”. Sell / avoid. Now a “Trading update and change of reporting date”. Uh oh…
Writing on “the third largest chain of specialist retail carpet and floor covering stores in the UK”, United Carpets (UCG) in September I noted that it attempts to mitigate that it “believes the business is well positioned for future trading” but asked half-year results including a formal profit warning ahoy?. Those December-announced results though included “recent trading performance has shown some more encouraging signs which, if sustained, should result in a better second half result and a reasonable outcome for the year”. Today a “Trading Statement”…
Previously writing on fashion retail company Quiz plc (QUIZ) in January it was Christmas revenue +8.4%... so why an approaching 30% share price decline?, that towards 25p – though I concluded that with “continued uncertainty with regards to consumer demand and associated spend”, I’d want more cash flow comfort so it was only on the watchlist. The shares had recovered to above 32p – before today a “Trading Update”…
In June 2017, at 150p per share, “FFI Holdings (FFI), the world leader in the provision of completion contracts to the entertainment industry for films, television, mini-series and streaming products, is pleased to announce… admission of its ordinary shares to trading on AIM” and in September of that year CEO Steven Ransohoff was emphasising “following our successful IPO, FFI has been working diligently on improving costs associated with our Completion Contract business. To that end, I am excited to announce the formation of our captive insurer, FFI Insurance, together with our long-time partner, MS Amlin”. But since…
Shares in Dillistone Group (DSG) are currently down noticeably today – towards 40p. Earlier in the week they were rising towards 60p – but then yesterday an intra-day (3:30pm) “Trading Statement, Update & Notice of Results”…
“Proactis Holdings PLC (PHD), the global spend management and B2B eCommerce solution provider, announces that the group expects to report order intake of £5.8m (2018: £5.5m) of total contract value for the 6-month period ended 31 January 2019 and revenue of approximately £27.7m (2018: £26.4m)”. The shares have responded... currently to around 60p – down more than 45%!...
“Beeks Financial Cloud Group plc (AIM: BKS), a niche cloud computing and connectivity provider for financial markets, is pleased to announce its unaudited results for the six months ended 31 December 2018” and CEO Gordon McArthur concludes “with an established and growing customer base, high levels of recurring revenue and strong market drivers, we are confident in delivering a successful outcome for the year ahead”. The shares have responded, er… to around 100p – more than 20% lower!...
“Fusion Antibodies plc (AIM: FAB), a pharmaceutical contract research organisation specialising in antibody engineering services, provides an update on the company's trading and progress to date in the current financial year ending 31 March 2019”. This is a company which listed in December 2017, with house broker Allenby Capital looking for revenue of £3.2 million for the company’s year ended 31st March 2018 and breaking into profit on revenue of £5.6 million for the now current year…
An AGM trading update from Gooch & Housego (GHH) sees CEO Mark Webster emphasise “our fibre optic business is performing particularly strongly” and “we remain confident in the potential of the industrial laser sector and our other markets to provide attractive long term growth”. So why have the shares responded currently more than 10% lower, towards 1300p?...
Previously writing on cleaning and hygiene products private label and contract manufacturer McBride (MCB), I concluded certainly at least until there is hard evidence of reignited bottom-line progress, I avoid. The shares were then above 200p, comparing to a close yesterday of 130p – and, on the back of a “Trading Update” today, they’re currently circa 90p!...
“Walker Greenbank PLC (AIM: WGB), the luxury interior furnishings group, announces a trading update for the year ended 31 January 2019. The results for the period are expected to be in line with management's expectations”. So why are the shares currently approaching 10% lower, below 80p?...
Ventilation systems and window and door hardware company, Titon Holdings (TON) has updated including “trading in the UK and the Rest of the World is in line with expectations” – but the shares are currently circa 35% lower, at around 130p (capitalising the company at approx. £14.5 million)…
Previously writing on project management and technical consultancy WYG, I concluded with the shares at circa 35p in March; Singer now expects cash outflows in that year, including further ‘separately disclosed costs’, to see net debt to… £9.8 million! With it thus set to remain cash burn ahoy, for me this currently remains bargepole ahoy!. Now an intra-day (2:30pm) “Trading Update” – and the shares slumping towards 20p…
A “Trading Statement” from “technology focussed consultancy and staffing business”, Parity Group (PTY) – and the shares currently slightly ahead, closer to 7p. Good news then? Well, they were close to 10p at the start of November and more than 15p in the summer…
Floated on the AIM Cesspit in May 2018 at 15p a share and raising £6 million Maestrano (MNO) describes itself as a “cloud business integration platform with cross-app data synchronization” I’d describe it as an univestable piece of shit.
Each working day I typically have fifteen minutes to obtain the key insights from the 7am regulatory news statements (RNS) before I need to talk my eldest daughter to catch her school bus. After too many years of looking at RNS output I can generally get the gist of what a company is trying to say and am wise to the (sadly often seen) combination of a 'pleased to announce' style first paragraph with a profit warning contained at the bottom of the statement in 'outlook', among other pull-the-wool-over-the-eyes distortions.
A 20th November-announced half-year report from semiconductors company CML Microsystems (CML) included “it currently looks challenging for second half revenues to show material improvement over the first six months although at the profit before tax level, the impact is expected to be less pronounced due to the anticipated product mix. Therefore, a full year advance in profitability remains likely, in-line with market expectations”. Today a “Trading Update” – and the shares currently more than 20% lower on the back of it, towards 340p…
It is not, in my view, a great time to be shorting UK names which are sensitive to the underlying market direction as I believe that the UK market, currently suffering from peak uncertainty from Brexit, could see a major re-rating in the event of any solution bar a general election, particularly if there is some sort of fudge of May’s deal which is, I think, the most likely outcome (I am long FTSE 250 not 100 futures to avoid currency considerations). This is not to say that I have downed tools completely on the short side in the UK...
Towards the end of October, previously updating on Gama Aviation (GMAA) it was from “expectations for the full year remain unchanged” to expects “$3m below” in just 5 weeks! – and the shares approaching 18% lower, at 125p. I warned still to avoid – and today a “2018 Full Year Update and 2019 Outlook”…
I wrote on Zoo Digital (ZOO) in September (“confident in the prospects”, so why the share price slump? HERE), concluding, despite the shares then falling to circa 140p, that; ‘I thus suggest the valuation leaves no room for any disappointment – and remind that great valuations tend to lead to great disappointment if expectations are not met. Indeed, even if strong growth is delivered, since the valuation is so far from what is being financially produced, there is still significant scope for sentiment to see the shares lower. As such, currently a sell / avoid.’ The shares closed yesterday at 115p and today a “Trading Update”…
A “Trading Update” from “provider of temporary physical structures, seating, ice rinks, furniture and interiors”, Arena Events (ARE) includes in its first paragraph; “The group experienced strong revenue growth across the UK, US and Middle East divisions with the acquisitions contributing as expected”. The shares have though responded to the update… currently more than 30% lower on the day, at around 40p! Hmmm…
Last month geotechnical engineering company Van Elle (VANL) emphasised “positive momentum”, but I noted I was particularly cautious of the “greater second half weighting” it envisaged. The shares were then just below 80p. Today there’s half-year results including “trading in H1 was in line with revised expectations”… but the shares are currently approximately 25% lower, at around 60p, on the back of the announcement…
I see that AIM-listed Haydale (HAYD) has released yet another RNS Reach to tell of an eighteen month supply agreement. The shares have jumped once again, by 12%, But, of course, it is an RNS Reach and thus should be viewed as a marketing, rather than anything significant such as mega-earnings.
In June, previously writing on Revolution Bars Group (RBG) I questioned short of expectations in every conceivable weather environment?. Now a Christmas and half-year to 29th December 2018 trading update…
In September, previously writing on Goals Soccer Centres (GOAL) I noted it stating “trading in H2 has started well” but also US and financial risk – and concluded to continue to avoid. Now a “Post close trading update” – and the shares currently more than 15% lower on the day, towards 60p…
A “Christmas Trading Update” from fashion retailer Quiz plc (QUIZ) states revenue “increased by 8.4% in the six-week period from 25 November 2018 to 5 January 2019 against the comparable period last year”, with “the group's UK standalone stores and concessions revenue increased by 1.6%”. The shares have responded, er… approaching 30% lower, towards 25p!...
Previously writing on Carclo (CAR), I noted last summer as the shares headed down towards 90p that I’d want to see at least some consistent financial delivery before having confidence here. Today a “Trading Statement” – and shares in this fine-tolerance, injection-moulded plastic parts manufacturer currently down more than 30% on the back of it, at 55p!...
A “Trading Update” from Brighton Pier Group (PIER) – and the shares currently down around 30%, at circa 45p. Uh oh – after the recent Patisserie Holdings (CAKE) debacle (and with its continuing share suspension), doesn’t look like things are getting any easier for ‘Lucky Luke’ Johnson…
In November 2017, I noted on Accrol (ACRL) bailout fundraising… at half of IPO price of only 17 months ago!. That was at 50p per share – but there was still much worse to follow. The shares had recovered from lows to a recent more than 20p – but that was before today a “Trading Update”…
Previously writing on online musical instruments and equipment retailer Gear4music (G4M) in September as the shares slid below 600p, I concluded such a rating demands at least growth as anticipated; not “slower than anticipated” roll-out, “gross margin compromise” and potentially worse – and, even without all that, is still likely highly dependent on a continued bullish stock market. As such, at this juncture, I avoid. The shares are currently sliding below 300p on the back of a “Trading Update”…
Previously writing on industrial inkjet technology company Xaar (XAR) on half-year results in September, I concluded the scale of deterioration, lack of visibility and continued difficult trading see - despite the shares currently sub 200p - me presently continue to avoid. Now a 28th December - i.e. attempted no-one watching o’clock - “Trading Update”. Uh oh…
I have been calling AIM-listed Haydale lower from 78p last June, in the wake of a nasty profit warning. Since then we have had two more, and even the company’s paid-for ramper research company Hardman admits the company needs more cash but Haydale sat on its hands instead of biting the bullet until raising a pitiful £250,00 in a placing at 20p shortly before Christmas and kicked the can down the road with a further £750,000 loan (at 11% interest).
“Paragon Entertainment Limited (AIM: PEL), the attractions design, production and fit-out business, today provides a trading update”. Not ‘is pleased to provide’ and intra-day (2:15pm) – Uh oh…
Online retailer ASOS (ASC) “announces a trading update for the first three months of the financial year”. Uh oh – not ‘pleased to announce’ then?...
Previously writing on ‘specialist performance materials’ company Low & Bonar (LWB), I concluded “the shares have unsurprisingly sunk, currently to circa 40p. However, with present challenges aplenty, I currently retain previous caution – and note this a further reminder to be cautious of ‘greater second half weighting’ – particularly if amidst already clear challenges!” (see I suggested profit warning, it reckoned greater weighting to the second half). Today a further “Trading Update” – with a first bullet point being “tough market and trading conditions largely unchanged during fourth quarter”. Uh oh…
A “Trading Update” from womenswear retailer Bonmarche notes its “forecast assumed that demand would broadly follow the pattern experienced last year when, during the earlier part of November, customers delayed purchases in anticipation of being able to take advantage of Black Friday discounts. However,”... Uh oh…
An update less than two months ago from Gresham Technologies (GHT) concluded “the company is actively engaged on a number of well advanced Clareti opportunities that are expected to contribute to the current financial year, and management therefore remains confident in the full year outlook”. Now a further “Trading Update”. Hmmm…
Previously writing on provider of concierge services via a digital platform and ‘Lifestyle Managers’, Ten Lifestyle Group (TENG) I noted; So it’s revenue in line with reduced expectations, contract roll-out then requires positive volumes of activity and the profit warning also noted “some of the investment into new verticals that was not deployed in FY2018 will now be made in FY2019”. These are significant factors to look for in the 28th November-expected results announcement…
Previously writing on interactive broadcast and gaming services company Cellcast (CLTV) just over a year ago, it was argues more optimistic about trading… but fund redemption problem – with the shares sliding from just below 5p and I concluding to certainly presently avoid. Now an intra-day (2:45pm) “Trading Statement”. Uh oh…
The stock market can be a cruel mistress and whilst I am enjoying a celebratory sausage roll due to the strong trading update from Greggs (GRG), Thomas Cook (TCG) has disclosed more local difficulties...with a second profits warning in about two months…
Previously writing on shares in home safety products company FireAngel Safety Technology (FA.), I noted as they soared to 77.5p on a partnering agreement that the upcoming reality of disappointing results together with even the near-term trading outlook uncertain saw me continue to avoid. Today a “Trading Update” – and the shares currently circa 20% lower on the day of the back of it, towards 35.5p!...
Yesterday ShareProphets AIM-China Filthy Forty member (one of only 7 remaining) Walcom (WALG) updated the market on its efforts to get its largest customer to pay its bills. Bad news there, as was the accompanying profit warning, repayments of borrowings, discussions with lender and the final coup de grace: ….the Company may be in a position where it is unable to settle its liabilities as and when they fall due. What’s not to like!
Maintel Holdings (MAI) has updated commencing that; “Maintel's transformation into a cloud and managed services provider has continued in the second half. This month alone the group has seen two large wins on its hosted unified communications platform… representing growth of over 40% versus the prior year. In addition, Maintel is on track to grow its managed services base year on year by around 10%”. Sounds good... You what?... the shares are currently down approaching 25%, below 460p?!...
A “Trading Update and Revised Dividend Commitment” announcement from telecommunications and related services group KCom (KCOM). The prospective dividend yield was already 6.5% - so I’m guessing it ain’t being revised upwards…
AIM-listed and almost out of cash Haydale (HAYD) has issued yet another RNS Reach, this time to tell us that it has signed an exclusive deal with TKS Siampress Management for an anti-counterfeiting product. Whoopie doo – but there are, predictably, no numbers offered. And an RNS Reach is for news which is, effectively, not material.
A “Trading Update” from “provider of IT as a Service”, Adept4 (AD4) sees the shares currently 25% lower, heading towards 1p. Uh oh…
