If last summers AGM is anything to go by shareholder apathy is clearly evident. A friend went to this poorly attended gathering and this was just after two share drops of over £2 in quick succession and the CFO falling on his sword with a handsome payoff. Not one question from the floor to the BOD regarding these issues and the BOD clearly delighted with their efforts!! They get paid handsomely for success or failure it would seem ,so is the share price of concern to them? The plan seems to increase the size of the company. Is bigger always better and more profitable?
They did draw down 8m of a 25m banking facility earlier this year, so this may account for the net debt of 4m vs. net cash of 1m this time last year, however, looking at the half year report, gross profit increased less than sales, admin expenses went up by a massive 1.4m of which there is no explanation for and 700k was spent on severance or restructuring costs. Seems they like spending the cash at the moment! Overall Basic EPS was down too, I thought it was amusing how they promote underlying EPS in the headline of the report. I have invested here before as I really like the product, the numbers just aren't doing it for me and as you said, £7 is nearly here, not sure if I'll invest again until I see the next set of numbers.
Time to leave I fear.Two years ago share at £14 with lots of cash in the bank, now heading for £7 with over £4 million of debt.Something is wrong somewhere. A vanity project run for the benefit of the board. Very disappointing
16 Oct '14
Checked constant fallers
DIA managed 8 straight days achieving -12% in that time
30 Sep '14
http://www.pddnet.com/news/2014/09/ford-invests-future-new-led-lighting-manufacturing-plants Good endorsement for dia
25 Aug '14
Faraday Research / LED
Faraday just published a research note on DIA. I think their research is applicable to PPIX, which I think is a cheaper stock to take advantage of improving LED market.. PPIX results due tomorrow could prove just their point in improving LED market..tomorrow could show possible break-even, or profits.. check this out http://goo.gl/fevhPI
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