ShareProphets

The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares


Join ShareProphets at less than 2p per article

> All the big AIM fraud exposés

> 300 articles and podcasts a month

> Hot share tips

> Original investigations by our experienced team

> No ads, no click-bait, no auto-play videos

Find out more

Fox Marble – half-year update, progress being made

By Tom Winnifrith & Steve Moore | Monday 6 August 2018


Disclosure: Financial Investigative Media Limited, which is not owned by Tom Winnifrith but by a trust for his dependants, owns shares in companies mentioned in this article. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Fox Marble (FOX) has updated on the first half of 2018 and that “as we move into the second half of the year our focus will remain on capitalising on growth, increasing our capacity and enhancing our product range in order to strengthen our position in the market”

It increased first half sales from €0.33 million in 2017 to €0.61 million - and emphasises it “has started the second half of the year strongly and expects to see continued good revenue growth through the balance of the year”. However, also;

“The strong demand for the company's range of white and grey stone has lead to the need for additional capital expenditure to increase production in the quarries as well as to finance increased working capital requirements now that the factory is operating at higher capacity. The company is pleased to announce that the holders of the series 3 and 5 loan notes have subscribed for an additional £300,000 of loan notes on the same terms as previously announced. The company's cash balance as at 27 July 2018 amounted to €289,000.”

The cash position is clearly far from ideal, though at least looks manageable - the results detail is expected on 25th September - and we note 2017’s half year revenue evolved into €1.20 million for the full-year. With significant operational gearing, we continue to look for continued revenue growth to see the company towards break-even and then into profitability and paying material dividends.

We apologise that it is taking much longer than we envisaged but, with the shares down slightly from our previous update, we continue to believe it will get there - and thus remain at buy.

This article first appeared on the Nifty Fifty website which Tom Winnifrith - who has also just placed a €2,000 order with Fox and enjoyed a shareholder discount of 10% - runs with Steve Moore & Lucian Miers. To access the website ahead of the next share tip from Tom & Steve and a new shorting piece from Lucian shortly click HERE


Filed under:


Never miss a story.




This area of the ShareProphets.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ShareProphets.com. ShareProphets.com does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ShareProphets.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ShareProphets.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.


More on FOX


Comments

Comments are turned off for this article.


Site by Everywhen