Keyword results: restructuring

Jaywing – full-year results, how ‘pleasing’ “an increase in underlying earnings”?...

Previously writing on data science-specialising marketing and consulting company Jaywing (JWNG), last month with the shares at 10.5p I suggested previous results didn’t provide confidence of secure foundations being in place and ahead of updated financials news I avoided. What then now of results for its year ended 31st March 2021, with the shares currently at 12.75p?…

Photo-Me International – what does ‘a return to fundamentals more quickly than expected’ mean?...

Vending services company Photo-Me International (PHTM) has announced results for its half-year ended 30th April 2021, arguing “a return to our fundamentals more quickly than previously expected” and the shares have currently responded up to 73.6p. What’s the detail?…

Staffline – argues “well positioned to take advantage of the increasing opportunities”. Really?...

A trading update from recruitment and training group Staffline (STAF) emphasises “underlying operating profit increased 133% in Q1 2021 year-on-year… provides increased confidence in the full year”. How justified is a share price rise to around 75p?…

PHD
PHD

Proactis – “significant” progress?, another “strategic” contract win?

Having previously concluded sceptically on the valuation of organisational spend management software and services company Proactis (PHDin November, I note the shares further higher today on trading update and “strategic contract win” announcements. So what’s the latest?…

PDL
PDL
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Petra Diamonds is about to complete balance sheet restructuring but I still wouldn't touch the equity

Petra Diamonds (PDL) is one of those mining companies which is drowning in debt and could very easily have gone bust, had it not recently announced a restructuring with its lenders.

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BigDish – Digital Communications Officer Zak Mir & co are “pleased to announce a Business Update”, BUT...

BigDish plc (DISH), “a technology development company is pleased to announce a Business Update”. So what’s this latest from its Digital Communications Officer Zak Mir & co?…

RTN
RTN
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Restaurant Group – interims argue “very encouraging” trading performance post-lockdown, BUT...

The Restaurant Group (TRG) has announced results for its half-year ended 28th June 2020, including emphasising “decisive response to COVID-19 pandemic… implemented significant restructuring actions resulting in a higher quality, diversified estate” and “trading performance post-lockdown (for the 11 weeks from July 4th to 20th September 2020) with c.90% of the retained estate now open has been very encouraging… Wagamama: Like-for-like sales growth of 11%… Leisure: LFL sales growth of 4%… Pubs: LFL sales growth of 14%” – and the shares have currently responded to above 57p, 5% higher…

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BAG
BAG

Why this Soft Drinks Company Could Put Some Fizz into its Battered Share Price

Irn Bru isn’t a Star Wars character but a soft drink a bit similar to Tizer, so how has its owner A G Barr (BAG) done in the virus crisis? Not too badly, it seems, though the share price has been hit for six. Maybe a recovery is on the cards…

RMG
RMG
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Can Royal Mail remember it is a private company?

Royal Mail (RMG) really should be renamed Royal Wail by long-suffering shareholders. Today's full year to the end of March numbers are unsurprisingly in two parts, although the gap between pre-Covid lockdown and the last few months is not as wide as seen by other corporate names. If only this could solely reflect a necessity, utility-style, business at the heart of our national life...

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Gfinity – “confident… remains well positioned for growth when the trading environment rebounds”. Er…

Self-styled “a world-leading esports provider”, Gfinity (GFIN) has updated concluding “having taken steps to significantly reduce the cost base and realign the operating model, the board is confident that Gfinity remains well positioned for growth when the trading environment rebounds”. The shares have currently responded to below 0.5p, more than 40% lower…

FLO
FLO

Flowtech Fluidpower – how confident can it really be of a return to growth in the second half & in 2021?

Previously writing on technical fluid power products company Flowtech Fluidpower (FLO), I noted indeed it wasn’t set for “another year of solid progress”! on a trading update for the year to 31st December 2019 as the shares fell towards 100p. They have fallen further since but are currently recovering above 100p on a “2019 Trading update & restructuring activities”. Hmmm – haven’t we already had this?...

ING
ING
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Ingenta – a recovery buy? Yes and this is why

A provider of software and services to the publishing industry, Ingenta (ING) announced half-year results in September with headlines including “Group revenues of £5.3m (2018: £6.4m)… Adjusted EBITDA of £0.3m (2018: £0.5m)”. However, also emphasised was “the board remains confident of achieving a material improvement in the trading performance of the group for the remainder of the year and beyond, as the benefits of the recently announced sales wins and restructuring begin to be recognised in our reported results” – and, importantly, these words have since been seemingly supported by management actions…

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Bonhill – I having explicitly warned in July on risks to second half weighting…

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”

WPP
WPP

Believe it or not, Advertising isn't that Unpopular and this British Jumbo Should Benefit from a Growing Market

Hello, Share Swallowers. It’s not a very exciting name but WPP (WPP) is one of the biggest advertising and PR outfits in the world. That’s not bad for a company that began life in the 1970’s as Wire and Plastic Products, making shopping baskets...

CPI
CPI

As Capita Shares Continue to Rise, its Troubled Recent Past Fades Away

Hello, Share Miners. Though I normally ignore charts as a way of predicting the future course of shares, I do carry out the simplistic task of seeing where the trend is going – believing that the most useful market cliche is ‘the trend is your friend’. And one share which almost always seems to creep forward these days is Capita (CPI)...

XAR
XAR

Xaar – I having consistently warned… now dire results announcement & to be mass boardroom change

I first cautioned on inkjet printing technology company Xaar (XAR) with the shares rising above 800p in 2013, and have consistently warned since – most recently earlier this month here. Now “2019 Interim Results” and “Board Changes and Succession” announcements – and the shares currently approaching 40% lower on the back of them, to around just 42p!...

PHD
PHD

Proactis – “encouraged by the group's performance”. Hmmm – really?...

Spend management software and services company Proactis (PHD) has updated including “we are encouraged by the group's performance and especially the level of cash generation in the second half of the year… we expect this level of cash flow performance to continue as the group delivers on the benefits identified during the operational review” and that a formal sales process has seen it having “received a number of expressions of interest”. The shares are though currently slightly lower to 50p – and also comparing to more than 100p as recently as February…

FGP
FGP
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The FirstGroup renaissance continues

Outside of some legendary gold plays, one of my better portfolio performers year-to-date has been FirstGroup (FGP) which I have loved up a number of times in the last eighteen odd months on these pages, ever since it was silly enough (admittedly under a different management team) to turn down a bid from private equity. In my previous update, I recounted how the new management team were actually starting to copy some of the suggestions offered by activist challenges. Now this is all good stuff...but it is even better when you win new contracts…

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Who is crazy enough to be buying MySale after such a big spike - sell

When the share price of a small company suddenly rises by more than 240% on no apparent news I am always left wondering who on earth is actually buying after such a huge rise. Often those who are end up getting severely stung, especially when the company itself issues a statement saying that it notes the share price rise and clarifies the current situation and that there is no current reason for it, and that is exactly what seems to be playing out with MySale Group (MYSL)...

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SFE
SFE

Safestyle UK – less than 2 months after “an encouraging start to the year”, AGM Statement…

“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!…

Vast Resources – Manaila Mine not reopening (yet)…oh, and a Corporate Restructuring. SELL.

As if the poor shareholders in AIM-listed Vast Resources (VAST) had not suffered enough! Today the company announced that its Manaila mine in Romania which has been on care and maintenance since December 2018 will not now be reopened as planned this month (with just two working days left!!), in order to reduce costs. Oh, and there is a full corporate restructuring and refinancing underway.

7digital – “pleased to confirm” restructuring completion… but much it shouldn’t be pleased to confirm!

In September, previously writing on 7digital Group (7DIG) I questioned a “global leader” with Universal Music contract wins? – with it seeing me question AIM-listed companies which claim ‘global’/‘world’ leader an automatic bargepole / sell?. An intra-day (Uh oh) “Update” today commences that the group “is pleased to confirm”… but the shares are currently more than 50% lower, below 1p!…

NXR
NXR

Norcros – interims, “remains confident” BUT…

Bathroom and kitchen products company Norcros (NXR) has announced results for its half-year ended 30th September 2018 and that it “remains confident…to make further progress in line with its expectations for the year to 31 March 2019”

BT
BT
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BT should think about sacking its CEO more often...

It is amazing what a 2% rise in revenues and some mumbling about a top end of range ebitda performance can do but - as I write - almost perma-dog BT Group (BT.A) shares are up over 6%. I should not be so cynical as I have liked the shares for a while as last expressed at length HERE. Today's update though feels like a corner has been turned. I say this for two reasons...

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Crawshaw – “potential financial restructuring and equity fundraising”?

“Statement re media speculation” from Crawshaw Group (CRAW), including “the board confirms that it is considering a number of remedial actions to address the key issues it has identified, which may include raising additional funding through an equity capital raising”. Uh oh – hopefully my prior warnings were heeded…

Tasty – half-year results, “well placed to resume growth”?

Wildwood and dim t restaurants company Tasty (TAST) has announced results for its half year ended 1st July 2018, including “in February 2018 we implemented major operational structural changes and are beginning to see early signs of improvements which we expect to continue in the second half of the year”. The shares have currently responded, er, approaching 15% lower, at 14.5p!…

XAR
XAR

Xaar – H1 results, reception of new products “positive” & “firmly believe in the potential”. Really?

Xaar (XAR) has announced results for the first half of 2018, including “the long term opportunity for Xaar remains very significant, but trading continues to be impacted by the aggressive decline in our Ceramics business, and the unpredictability of the adoption of our new products”. Hmmm…

PEB
PEB

Pebble Beach Systems – “steady trading results” & steps to profit and cash generation “have proved to be effective”. Really?!

Pebble Beach Systems (PEB) has announced results including “the first half of 2018 has seen steady trading results… the significant steps taken to move to ongoing profitability and cash generation have proved to be effective”. Sounds promising, what are the financial details then?...

PEB
PEB

Pebble Beach Systems – FY 2017 results; “a sound financial performance”. Really?

Pebble Beach Systems (PEB) has announced results for the 2017 calendar year, emphasising “adjusted operating profit for the continuing business of £0.5 million (loss in 2016 £(1.1 million))” and “the company will deliver improved profitability as a direct result of the restructure undertaken throughout 2017 and Q1 2018”. However, it is cash which is reality…

Accrol – open offer update, how’s the “platform for the group to execute its strategy”?

Tissue products manufacturing group Accrol (ACRL) has updated that it received valid applications of 287.64% of the new shares available under an open offer to raise up to £1.935 million at 15p per share. That compares with a 22.5p prior close, but also more than 130p as recently as October 2017, so where now?...

Photo-Me – from Japan photo ID excitement to a profit warning

Results for its year ended 30th April 2016 from Photo-Me (PHTM) noted it growing “deploying machines in Japan in order to respond to the increased demand created by the roll-out of a new photo ID”. The following year’s results noted “adoption by citizens has not been as rapid as the government had anticipated” and a trading update now includes on Japan “a very difficult market due to an oversupply which has put pressure on commissions across the industry”. Uh oh…

Gattaca – after a February profit warning, two months later…

Engineering and Technology recruitment company Gattaca (GATC) has announced results for its half year ended 31st January 2018. These follow particularly a trading update on 7th February, so no surprises then… Er, the shares are currently more than 20% lower on the day, at around 150p!…

Why I'll give EMIS a Miss - Until I See How the 2018 Land Lies

Hello, Share Smackers. Operating profit for 2017 dropped by more than half at EMIS Group (EMIS). According to the figures just out, £11.2 million was used up covering service and reporting issues. That seems fairly remiss in a modern company which should always be equipped to pleasing its big customers.

Tasty – 2017 results, “significant positive changes throughout 2018”?

Wildwood and dim t UK restaurant company Tasty (TAST) has announced results for the 2017 calendar year – with “highlights including; “Revenue up 9.7% to £50.3m” and “The financial performance of the group was in line with the board's revised expectation”. Hmmm, “revised expectation” hey…

RGD
RGD

Real Good Food – “Trading Statement”, surely not yet more real bad news?

With its shares already down from 53.5p at the start of last year and 35p at the end of July this, to 26p, there’s now a further “Trading Statement” announcement from Real Good Food (RGD). Surely not yet more real bad news?...

GKP
GKP

Gulf Keystone is a very different company these days - buy

Gulf Keystone Petroleum (GKP) was one of the most hyped up oil companies that I have ever seen during my time in the markets, and although that all ended in tears, I think it could be worth another look now as it has changed a lot since those days.

RBN
RBN

Robinson plc – interims talk of ‘recovering margins’ & “further growth”, so why are the shares slumping?

Packaging company Robinson (RBN) has announced results for the first half of 2017, including “we do expect to see sufficient new business coming through in the second half to achieve growth in revenue for the year as a whole and we expect to continue to build the pipeline for further growth in 2018”. However, the shares are currently 6.5% lower, at 121.5p…

MRS
MRS

Oooo Err MRS – “Trading Update” from Management Resource Solutions at 08:19. Uh oh…

Previously described as an A-grade howler HERE, there is now a strange-time “Trading Update” announcement from Management Resource Solutions (MRS). Strangely timed such announcements are very seldom good news and, combined with the track record here, I’m guessing there’s only one scenario…

ZIN
ZIN

Zinc Media – believes profitability “will increase substantially”… though it talking ‘adjusted EBITDA’?

I previously wrote on TV and multimedia content group Zinc Media (ZIN) on its results for its half year ended 31st December 2016 HERE. Recently the company, and now also its broker, have updated…

ESG
ESG

eServGlobal – interims argue “strong outlook” & Homesend “sales expansion”, but what about the financials?

eServGlobal (ESG) has announced results for its half year ended 30th April 2017 including “a strong outlook for the year” for the core business and that the Homesend joint venture payment hub “is experiencing a sales expansion which it expects to become more significant across the remainder of 2017”. So why do the shares remain sub 6p, well down from more than 8p reached earlier this year?...

HRN
HRN

Hornby – major holder’s purchase means a mandatory cash offer

Last month saw a regime change General Meeting requisition withdrawn at Hornby (HRN) and now the major shareholder, Phoenix, has unconditionally agreed to acquire the rebel’s (New Pistoia Income’s) shares – seeing it required to make a mandatory cash offer for the whole company...

ITQ
ITQ

InterQuest – trading warning, but the attempted robber barons admit “solid” longer term fundamentals

“Trading update” announcement from InterQuest (ITQ), a company subject to an attempted robber baron (Oops) management, buyout with a first closing date in less than a week. Hmmm...

ITQ
ITQ

InterQuest – summarises reasons to ignore offer (from the attempted robber barons)

With the attempted robber barons having recently posted their offer document to shareholders, InterQuest (ITQ) independent director David Higgins, being advised by the company’s Nomad and broker Panmure Gordon, has summarised why the offer should be ignored ahead of writing to shareholders no later than 15th June…

DCD
DCD

DCD Media – 2016 results argue “measures… will ensure that the business can deliver value”. Will they?

An 11:26am results announcement from tv distribution and production group DCD Media (DCD). Hmmm, why not a standard 7am release? Let’s take a look…

AVM
AVM

Avocet Mining – “pleased to announce” a standstill agreement… I’d suggest it not being too pleased as yet…

Avocet Mining (AVM) “is pleased to announce today that its subsidiary Société des Mines de Bélahouro SA that operates the Inata gold mine in Burkina Faso, has entered into a standstill agreement with its major trade and financial creditors”. I’d suggest it not though being too pleased as yet…

C21
C21

21st Century Technology – from “good” recent progress in December, to now-stated “poor” second half 2016 financial performance!

Fleet and passenger systems company 21st Century Technology (C21) has, tardily, announced results for the 2016 calendar year, though with CEO Russ Singleton emphasising “we made real strides last year with major framework renewals, organisational restructuring and innovative new sales”. Sounds promising. However...

Proxama – having spent “throughout 2016” trying to sell Digital Payments division, now asks us to believe it’s “the best owner” after all!

Proxama (PROX), 13th December 2016: “We have been reviewing various options throughout 2016 to sell the Digital Payments division with a priority being to maximise shareholder value… The company remains committed to the sale and we believe that it will be completed”Today: “the board has concluded that we remain the best owner for Digital Payments division… retaining this division as part of the group, with an updated strategy”. Haha – so having spent “throughout 2016” trying to sell the business and stating it “committed to the sale”, we’re now asked to believe that the company is actually “the best owner” for the business after all!?!...

SAL
SAL

SpaceandPeople – shares soar on the positive guidance of a trading update

Shares in promotional space manager and services provider SpaceandPeople (SAL) are currently 45% higher today, at 37p, on the back of a “Trading Update” announcement…

VLX
VLX

Volex – updates that “profitability has improved”, but what about cash generation?

Having previously concluded it understandable that they remain below 40p, I note shares in Volex (VLX) currently rising above this level on the back of a “Trading Statement” announcement…

EMIS Group – updates on performance “in line”, so why are the shares sliding?

A trading update announcement from EMIS Group (EMIS) includes that “performance for the year was in line with the board's expectations”, so why are the shares currently around 8% lower, at 870p?...

BMS
BMS

Braemar Shipping Services – follows August’s profit warning, with another…

Previously writing on Braemar Shipping Services (BMS), I suggested that holding, at the then 370p, was only for the very brave or very patient and that I’d avoid. Hopefully that was heeded as another “Trading Update” announcement today is another profit warning – and sees the shares currently down towards 250p…

PTD
PTD

Pittards – not a wonderful time of the year here AGAIN, profit warning…

This does not seem to be a wonderful time of the year for leather goods producer Pittards (PTD). In 2014, there was shocking news it didn’t tell of, last year a 23rd December “materially below” expectations profit warning and this year we now have a “Situation in Ethiopia and Trading Update” announcement. As you may have guessed, it ain't good...

POS
POS

Plexus Holdings – AGM update; argues strong position for next cyclical upswing, but how far away’s that?

Shares in oil and gas engineering services company Plexus (POS) are currently more than 12.5% higher, at 73p, on the back of an “AGM Statement” which argues “with a strengthened balance sheet, a large wellhead inventory, an expanded suite of Plexus products, partners in strategically important territories, and a successful track record with a who's who of blue chip operators, Plexus is in a strong position to take advantage of and benefit from the next cyclical upswing”. Hmmm…

DIA
DIA

Dialight – now targeting “materially ahead of expectations”. But…

LED lighting technology company, Dialight (DIA) has updated that “following a good November performance and looking forward to the prospects for December, the group is now targeting an underlying EBIT (including FX) for the year ending 31 December 2016 materially ahead of expectations”. But…

MKS
MKS

Why Marks and Sparks Fails to Spark My Investing Fire

Hello Share Squeezers. You have to love traditional institutions. Marks and Sparks (MKS) is certainly one of those. But apart from a purchase early on in my investing career (not far beyond the Iron Age) I have avoided the shares. Reason: I bought them at £3 plus and for most of the years ever since the share price has monkeyed about at roughly the same level.

CAF
CAF

Filthy 40 China Africa: restructuring EGM Circular released, correction and apology, but value at the current price?

The details have been announced: out of cash ShareProphets AIM-China Filthy Forty play China Africa resources (CAF) is proposing to divest its existing asset to its shareholders by way of an in specie special dividend (apparently valued at 1.75p per share) to leave a clean (and rather empty) cash shell. New money is coming in at just 2.17p a share, with a new board, a new business model and a new set of advisers. Against an IPO price of 40p a share back in 2011, China Africa has been a stunningly poor company. Things look set to change for the better, although the maths suggests that the current share price is still well ahead of events. 

Zamano – attempted ‘no one watching o’clock’ “business update”. Uh-oh…

Uh-oh. A Friday, 3:39pm “Business Update & Strategy/Board Changes” announcement. I’ll give you whatever odds you want on this being good news from mobile messaging, marketing and payments company Zamano (ZMNO)… It ain’t…

CAF
CAF

Another day on the Casino: Filthy 40 China Africa yesterday “knows of no specific reason” for share price move; today restructuring and discounted placing ahoy

Shares in ShareProphets AIM-China Filthy Forty play China Africa (CAF) suddenly had a rocket under them late on Monday. Having been bumping along the bottom at around 4p for months on end, all of a sudden they shot up on Monday to 7.5p and a “know-of-no-reason” RNS duly followed at midday yesterday. This morning they have shot higher again clocking up a peak of 16p. But now, less than 24 hours after knowing of no specific reason for the share price move, the company has ‘fessed up that a restructuring and placing are on the way. 

SHI
SHI

SIG – profit warning & ‘mutually agreed’ that CEO walks the plank…

On the back of “Trading Update” and “Directorate Change” announcements, shares in building products distributor, SIG plc (SHI) are currently more than 20% lower, heading towards 90p. Uh-oh…

MOS
MOS

Mobile Streams – reckons “pleased to announce” full-year results, shares down 30%...

“Mobile Streams (MOS), the emerging markets focused mobile media company, is pleased to announce its final results for the year ended 30 June 2016 which are in line with management's revised expectations”. Ok. Er, what? The shares currently 30% down, at 9.625p, in response...

PGY
PGY

Progility – “pleased to present results”, shares down approaching 40% in response...

16 Sep 2016: “Progility plc (PGY), the Professional Services, Healthcare and Communications firm… intends to publish its full year results for the period to 30 June 2016 in the week commencing 26 September 2016”27 Sep 2016: “the company now intends to publish its final results, for the year ended 30 June 2016, on or before 7 October 2016”07 Oct 2016, 11:06am: “Final Results” announcement. All sounds a bit disorganised… and the shares slumped by 39% lto 1.6p, despite Executive Chairman Wayne Bos being “pleased to present Progility's results for the twelve months to 30 June 2016”.

VLK
VLK

Vislink – half-year results, TIMBERRR!

July profit warning meant results for the first half of 2016 from Vislink (VLK) were not going to be good but, on revenue 15% lower than in the corresponding 2015 period, at £22.6 million, a loss of £32.8 million!?! And there’s worse…

HRN
HRN

Hornby – current trading “in line”, but is that of any real significance? ...

After trading disappointment thus far in 2016, there is now an AGM update from hobby and toy products company Hornby (HRN). Let’s take a look…

Monitise – FY results, claims “positive” client response, but then admits contracts taking longer to conclude than anticipated! …

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…

BMS
BMS

Braemar Shipping Services – “Trading Update”, results “will be materially lower than 2016”. Uh-oh…

“Braemar Shipping Services plc (BMS) provides the following trading update, further to our AGM Trading Update on 30 June 2016”. Not ‘pleased to provide’, just “provides”, Uh-oh...

KLN
KLN

Kellan Group – Half-Year results. “A market leading recruitment business”, Really? …

Self-described “market leading recruitment business” Kellan (KLN) has announced results for the first six months of 2016. The shares are currently down 24%, to 0.95p, in response...

RedstoneConnect – restructuring completed, now to deliver on “exciting” growth potential?

RedstoneConnect (REDS, formerly Coms) has announced an early lease exit, emphasising “not only does it remove the cash drain associated with this lease, it also allows us to focus entirely on our profitable RedstoneConnect business, unencumbered by legacy issues". The following updates, with the shares currently more than 8% higher, at 1.675p, in response...

DIA
DIA

Dialight – half-year results, board “confident” but will FY expectations really be met?

LED lighting for industrial and hazardous applications-focused, Dialight plc (DIA) has announced half year results emphasising “underlying operating profit” up from £1.7 million to £4.2 million, though showing a statutory loss before tax of £7.1 million, from breakeven. Hmmm, let’s take a look…

Brave Bison – shares up on H1 trading update, but is this previous wrongster really to now become a rightster?

Shares in previous wrongster Rightster Group, now Brave Bison Group plc (BBSN), currently trade more than 17.5% higher today, at 5p, on the back of a trading update ahead of its results for the first half of 2016, expected to be announced on 31st August. Is it really now recovery ahoy here?

RNO
RNO

Renold plc – review of post-profit warning AGM & “Directorate Change” announcements

Having warned on profit in February – as reviewed HERE, today there is an AGM update and a “Directorate Change” announcement from industrial chains and related power transmission products company Renold (RNO). Let’s take a look…

VLK
VLK

Vislink - A few thoughts on balance sheets and compound returns

Vislink (VLK) shares are down a further 21% today to 11.65p, for a market cap of just £14.25 million, as the fallout continues from yesterday’s hideous trading update. This is an opportune moment to make a few points on the issue of falling knives and when to catch them.

VLK
VLK

Vislink – strangely timed “Trading Update” = ‘material’ profit warning & worse still…

A strangely timed (8:01am) “Trading Update” from technology group “specialising in solutions for the capture, management and delivery of high quality video for the broadcast and surveillance and public safety markets”, Vislink (VLK). Hmmm…

HRN
HRN

Hornby – self-declared “disappointing” results, can further new money fund a recovery?

Hobby and toy products group Hornby (HRN) has announced results from an “extremely challenging” year, along with a placing and open offer to fund a new business plan which it is “confident… can be delivered successfully and that Hornby can return to being a profitable and cash generative business which will progress to delivering shareholder value”. Hmmm…

NBB
NBB

Norman Broadbent - This recruitment company still has a lot to prove

Friday saw the release of Norman Broadbent’s (NBB) final results for 2015. This small executive search business is alive and kicking despite a sequence of unprofitable years.

LRM
LRM

Lombard Risk – full-year results it is “pleased to report”, it shouldn’t be…

Chairman Philip Crawford is “pleased to report on a year of considerable development and growth for Lombard Risk” (LRM). The results suggest he shouldn’t be…

Coms – full-year results and chat with CEO & CFO, exciting growth potential?

Following their appointments last year and the announcement of results for the company’s year ended 31st January 2016, I’ve chatted to Coms plc (COMS) CEO Mark Braund and CFO Spencer Dredge…

TAL
TAL

Ten Alps – from “on track to generate a full year profit for the first time in a number of years”, to…

8th March 2016: Ten Alps plc (TAL) “remains on track to generate a full year profit for the first time in a number of years and to continue momentum into the medium term”17th May 2016: “The group has continued to sustain losses in certain parts of its publishing operations, the turnaround of which has taken longer than expected. These continued losses are likely to result in the group not being profitable for the year as a whole”. Uh oh…

JLH
JLH

John Lewis of Hungerford – half year results are another profit warning

Shares in kitchens and furniture designer, manufacturer and retailer, John Lewis of Hungerford (JLH) are amongst the major fallers today on the back of a half year results statement noting “lower than our anticipated sales growth” and “continued deflationary pricing pressure”. Hmmm…

C21
C21

21st Century Technology plc – another attempted ‘no one watching o’clock’ failure

Friday (15th April) at 2:24pm: “The board of 21st Century (C21) today provides the following trading update”. Hmmm. My guess is it ain’t gonna be good…

PCI
PCI

Petroceltic – insufficient valid acceptances for Worldview’s offer, Uh oh…

Having stated its offer for Petroceltic (PCI) was conditional on 90%+ acceptances, Worldview has announced at closing valid acceptances of 54.6% have been received and that resultantly “the acceptance condition has not been satisfied and the offer has lapsed”. Uh oh…

GTC
GTC

Getech Group – interim results, claims “a strong financial position”. Really?

Having followed a profit warning with news that its CEO is to walk the plank, geoscience services group Getech (GTC) has announced results for its half year ended 31st January 2016. They ain’t pretty…

POS
POS

Plexus Holdings – interim results, is it recovery as yet?

Having fallen from more than 120p on the back of a very significant profit warning in January, though been recovering from little more than 40p at the end of last month, shares in oil and gas engineering services company Plexus (POS) currently trade around 5% lower at 52p on the back of results for the six months to 31st December 2015…

Buy Standard Chartered for longer term recovery

Banks have had a torrid time over the past few years, and few have been hit quite so hard as Standard Chartered (STAN), but this could present a longer term buying opportunity.

IMG
IMG

Imagination Technologies – does a “Restructuring update” & recent share price move alter my stance?

Imagination Technologies (IMG) has announced “an acceleration of its restructuring programme” and that “the group will undertake asset write-downs as well as record a number of contract and tax provisions”. The following updates with this coming after a dreadful profits alert last month

NGR
NGR

Nature Group – “Trading Statement” later than prior year, but same result; ‘substantial’ profit warning

Provider of port reception services and facilities and waste treatment services, Nature Group (NGR) has announced a “Trading Statement including early “owing to challenging and industry wide trading conditions and adjustments relating to certain receivables from prior periods…” Uh oh! …

OPP
OPP

Origo Partners – AIM-China Filthy Forty member restructures debt

I flagged HERE that AIM-China Origo Partners (OPP) had a bit of a problem with some zero dividend preference debt. This has now been resolved with the announcement of a restructuring of the liability, subject to various conditions – not least of which is a GM. But still there are Interims to come by tomorrow in order to avoid suspension. Following a 60% decline in net assets as at FY14, will we be once again singing Where has all the money gone?

UTN
UTN

ShareProphets RNS Translation Service: Ultima Networks – Placing, Disposal, Restructuring

As predicted HERE in the wake of after-hours interims from the company on Wednesday, shareholders in AIM cesspit dog Ultima Networks (UTN) plc are to be treated to a placing. Gotcha. In fact it is rather more than that, as an RNS issued yesterday (mercifully, at the usual 7am) details proposals to be put to an EGM under which the business is to be disposed of into a private company and the plc restructured into an investing company – the last refuge for failed sub-scale ventures on the Casino. With the shares having closed at 0.25p on Thursday a placing at 0.7p seems somewhat generous, does it not? But then, as we all know, if it looks too good to be true…..step forward the ShareProphets RNS Translation Service to help our understanding of what is going on.

AFR
AFR

Afren: Turkeys May Vote For Christmas, 0p On Cards‏

The voting at yesterday's AGM from Afren (AFR) was interesting, to say the least. Whilst there was only a tiny proportion of shareholders who took part, there was a rather curious result. The majority of the resolutions got overwhelming support, not least the re-election of Alan Linn, who is the new head of the company.

AFR
AFR

Afren equity is toast, ignore the spike says Waseem Shakoor

It has been some time since I wrote about Afren (AFR) but, suffice to say, anyone who chose to ignore the warnings about what would happen in a restructuring will now be sitting on very severe losses. From memory, I first called Afren out as a short at 7p, and then added heavily to that position as retail buyers drove the price up to as much as 14p. On Friday, the firm announced that the predicted dilution was on its way as a vast amount of shares would be issued to bond holders in exchange for a very modest reduction in debt:

AFR
AFR

Red Flags at Night – Afren sticks two fingers up at shareholders facing wipe-out

After hours yesterday, Friday, at 6.26pm, came a truly horrific RNS for Afren (AFR) shareholders. Not that the scale of the devastation will come as any surprise to regular ShareProphets readers, Afren published full details of the previously announced restructuring. But to rub maximum salt into the wound, the RNS was released at the last moment possible before the system shut down for the weekend, and was the last company RNS of the day. Bell Pottinger, PR adviser to Afren, must be really proud of its work there. I hope the PR flunkies all slept well last night.

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