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True re the month extension option. I would hope this is not needed as it is a cleaned out balance sheet these days, but they need to make a public statement if they are going to extend for a month. As usual, retail shareholders who joined in the rescue financing in 2018 will be the last to know anything.
We have to bear in mind that due to Covid the time limit for publication of half year results is extended - so Íde has until the end of October.
Will also be a bonus when FinnCap issue a broker's note. It's all a bit 'in the air (cloud)' at the moment.
Yes and it will be interesting to see what 'acceptable levels of profitability' means. And whether the outlook points to the delayed bigger projects now getting underway in H2 to underpin a better second half.
IDE generated positive operating cash in 2019 and felt able to make a small acquisition in June 2020... just small signs there is a brighter future ahead. It's taken a bit longer than hoped but the tone of the annual report was encouraging.
Like you say, the next update due by end Sept will hopefully confirm the recovery story is moving on from stabilisation to growth.
On that last, we are due an update/6month results.
In my view to move this meaningfully it will take a positive trading update to prove that having right-sized, the company is continuing to gain contracts. They are at least now able to turn their minds outwards with a stronger sales team - "supported by forthcoming developments in marketing and lead generation activities we plan to implement in 2020."
So much for that - and just one trade.
There has been a lot of support from MXCP and others. MXCP, for the very good reason they have 43% and outstanding loan notes, say that will continue. They have said they expect Íde to return " market levels of profitability" in time.It was a complete mess under previous management, and that is taking a long time to sort out. But they seem to have right-sized and stabilised the business, are streamlining and improving their offering, and are now looking outwards to growth with building a strong sales force, "supported by forthcoming developments in marketing and lead generation activities we plan to implement in 2020."
So at face value it is going in the right direction, and finger in the air and the paucity of trades I see no reason to think otherwise than that the current price is about the low, and provided their strategy continues to be sound, we can start to move up on any future positive news.