Smoove – interims, “to build on the successes of the first six months”? Er…
By Steve Moore | Thursday 10 November 2022
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. 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.
Describing itself as a “technology and services business aiming to revolutionise home moving and ownership”, Smoove (SMV) has announced results for its half-year ended 30th September 2022 with “Highlights” including “revenue increased by 4% to £10.6m… Cash balance of £17.0m… Proposed tender offer to return up to £5m to shareholders to be launched as soon as practicable… confident that we have the right strategy and plan in place to build on the successes of the first six months of this financial year”. So why currently a share price response down approaching 7% to 33.8p?
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