The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Still trying to find the name change on Lse.
Shiny new name. No mention of a strategic review of Findel Education.
Yes I too smiled when I read that acronym. The vomit in the fire place incident is alleged to have happened during a drinking contest with that city worker Blue.
Unfortunately I can’t see Mr Ashley selling his stake in Findel because it is the only investment that he has made in the last five years that has proved to be a success, no thanks to his input of course. We are stuck with the man I’m afraid so let’s hope our board can turn this into a positive. Announcing the sale of Findel Education would be a good move.
Totally agree Skindle, there is no logic to our current share price.
As things stand, SPD is in a mess and anyone that can make out an investment case for them, is either the bravest of the brave or needs plain deluded. I just can't see how the Belgians wouldn't have flagged the VAT issue up in some way given the sheer size of the numbers. As for MA just dismissing it and not making any allowance for it in the accounts, beggars belief. No wonder Grant Thornton are being reported as about to resign, as even for them, the company has become too toxic. There are more flags on this company than can be seen in Tiananmen Square on Chinese National Day!
In the meantime, we can only stand by and watch this corporate soap opera unfold and trust that we don't get caught up in it all too much. Going short in shares isn't my thing but surely this must be the most shorted listed companies at the moment.
In a more light hearted moment, was I the only one chuckling to myself when MA stated his legal advisor in Belgium was called 'Laga' which he was reportedly fond of consuming 15 pints of before vomiting in the fireplace at a strategy meeting.....
Given the nauseating mess he is currently presiding over at the moment, it probably only takes a phone call from 'Laga' before he is sent running to the aforementioned again!!
Following the calamitous release of the Sports Direct results last Friday, their earnings per share figure is now 17.6 pence. Based on the current SPD share price of £2.21 their P/E ratio is 12.61.
If you apply 12.61 to our EPS, our share price should be £3.40. I accept that SPD are a much bigger operation than us but their performance is very much on the decline, while we are in The ascendancy. Why are we only worth a P/E ratio of 8.56 while SPD trade at 12.61 ?
I have said the same previously 1GW and we would be well rid of him.
Well if that Belgian tax figure needs to be paid he may want to sell his stake here to raise cash
I think we are all agreed on Education but to get the best price, the Board will want to continue its turnaround to a point that it attracts interest rather than being offloaded for offloaded sake.
In the meantime, it looks like SPD’s share price is going to be put through the shredder on Monday and quite rightly so too, however, I am worried we might get dragged along with it for no other reason than association.
Much as I despise Mr Ashley, I cannot disagree with the SPD opinion of Findel. It really is time to sell Education.
Sports Direct say in their results announcement that they are pushing for the disposal of Education to be looked at by Findel asap.
It does appear that with all the shenanigans going on over at SPD we are being pulled back by association.
Why else would our share price be dropping in such a fashion?
It is possible that for some, after yesterdays attempt by SPD to suggest financial irregularities, it may be a case of 'no smoke without fire' despite our Board's robust denial. To me it was a blatant effort to bring the share price down so he could have another go at taking us out cheaply when they are allowed to formally re-bid.
Expect more of the same from that odious individual who plays only by his own rules.
The irony is that Sports Direct delaying its results again this morning appears to affecting our price by association.
I hope you are right Columbo and from our Boards response it suggests that KPMG have had a confrontation with Grant Thornton which may be part of SPD’s delayed reporting, albeit I believe a small one in the bigger picture of their overall problems.
Time will tell but our forward trajectory is the polar opposite of SPD at this moment in time as I see it.
i still stand by my prediction a few weeks ago that sports direct will end up in the bin like JJB did,anyway alls studio need to do is keep there house in order,debt down,profits and customer numbers up,all common sense i know.
MA is a total menace and bully.
He cannot control his megalomaniac personality when others don’t agree with him.
What on earth did he think he would achieve by such a move? He just reaffirms the business community’s opinion of him. Extraordinary behaviour and it will be very interesting to see what SPD provide by way of their own results as audited by a firm that is under the microscope.
Truly shocking but a decent and balanced response from our side putting his pathetic move in its place.
The bigger they are the harder the fall..........I refer to the company of course ! Every dog has its day.
steal.
nothing in what spd do will never surprise me 1 iota,they tried to steel our company of us at £1.61 a share,and they will try and do what ever they can to throw a spanner in the works to stop us succeeding in the future.gees how do we get rid of them,imho
I find it difficult to comprehend that Sports Direct in its capacity as our largest shareholder has voted against the re appointment of Stuart Caldwell our Chief Financial Officer over concerns regarding our accounting policies. Sports Direct have failed to publish their own accounts by their chosen date so they are hardly in a position to challenge the way we present our accounts. Those in glass houses should not throw stones.
I find it disappointing that we are trading at a PE ratio of 8.9% despite a now proven track record of growth, core debt rapidly declining and the customer redress programme almost complete, to name only 3 reasons why we should be attributed a higher valuation.
Interestingly, we were trading 20% higher this time last year. The company has moved on and is set fair for the upcoming and all important Christmas trading period, yet the share price has gone in the opposite direction.
I have to ask, what will it take for the market to recognise the true value of Findel?
Happy with that and pleased to note the comment 'with recent weeks showing significantly stronger levels of growth'.
The Board appear to very focused on developing and rolling out the new technology, which has to bode well for the future.
Tu
Just what we needed a wee update and still on track
Steady as she goes then. Good to see.
Timing for an update is as I understand it too Columbo
amazon also planning uk week long strikes,its getting a bit messy out there
https://www.bbc.co.uk/news/business-48990482
Yes ejackson next trading update at the end of this month with the AGM if my memory serves me right.