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I see the following:
Wednesday, September 29th 2021
Ince Group PLC Annual Shareholders Meeting
Monday, November 29th 2021
Half Year 2022 Ince Group PLC Earnings Release
A bit over 3m away.
Results were underwhelming and lack of news flow is not ideal. I do feel they could improve there communication and PR.
Anyone know when the next results update is due?
Down 20% odd since the update is a nonsense must be a clumsy seller about , v overdone here....
This starting to look massively overdone. It's difficult to understand the cause of the drop, except if an II is reducing.
Oh boy, an II must be offloading. BIG TIME.
Happy to stand back and wait for the dust to settle before even thinking about topping up.
Were good but not enough to support the recent jump in the share price since the beginning of the year....sold my trading pot here couple of months ago and will be looking to buy it back at early 50's if possible....fully expecting much better numbers from the company in the second half and beyond.
GLA.
Yes, I agree that they're one-off and that the revenue has risen.
In response to your question, I agree with you. But that is exactly why the banks have all seemingly made a small fortune this year... funny world we live in.
I agree that they're real costs, but not that they constitute a change in the fundamentals of the business as they're non-recurring in nature. If earnings were flat next year, they wouldn't have these costs on the books - in that instance would you proclaim that the business is growing earnings at 140% per annum?
Regarding my comment that the fundamentals have 'deteriorated slightly'. If you're a Stocko user, you'll see that the 'Quality' rating has dropped since the financial results, so I think my statement is accurate.
Guys, I agree that the 59% drop is due to a 'one-off' cost - but all businesses have 'one-off' costs. Stripping out unlucky items is not accounting, it's black magic. It's like saying that Rolls Royce would have had a fantastic few years if not for the issue with their Trent engines... the drop in operating profitability is real, for whatever reason caused it.
FYI: I am long here. I agree it's cheap.
You're correct, they wrote down the cost of closing their lease of one of two floors in Aldgate Tower, plus settlement of a legal dispute. These are obviously non-recurring costs, so it's not fair to say the fundamentals have deteriorated. It's been a bit brutal since earnings, but this is stupidly undervalued and I feel the patient will be rewarded
CaneToad, if you read the results RNS it says operating profit is actually flat comparing with 2019. It dropped 59% after being hit by non-underlying costs, which was mainly the charge they paid to give up one floor of their Algate Tower office in London. That's how I interpreted it, maybe I was wrong?
I'm a holder here, but to be fair, the fundamentals have deteriorated a little bit over the past few months. It's still solid, but people were looking for a divi and only having a single broker makes it tricky to get a reliable forecast. While Revenue has lisghtly increased, operating profit is substantially (59%) down.
Some PIs jumping ships due to lack of divi? You'd think this is now bargain basement SP. Painful to watch, this slow drift each day...
Can see this drifting painfully lower each day. Sentiment here seems to have disappeared and could head back to previous placing price.
FWIW the house broker has a 100p price target and a 1.5p dividend for the year, in a new note published this morning.
It's the communication that irks me. Why is underlying profit not included in the highlights? They present the profit inclusive of non-recurring costs and then don't explain until a few pages later. It just sets a negative mood as you go through the report, when actually performance wasn't too bad. I expect income investors will feel a bit strung along by the dividend constantly being just around the corner - they should have been clear about this in the interim report/trading updates
Not looking very impressive and personally I hoped for better than that...the resumed dividend in the near term is the best part of it and show some confidence for better performance....
I guess the SP will take a knock today as it's usually the case these days on results day ( unless it's excellent) but for me this is more mid/long term holding so will consider adding few on any weakness.....
GLA.
Results look so so. UK down a bit. Nothing too unexpected, but not what you'd call great.
No dividend this time, though they claim a divi will be declared with H1 results in Sept.
No idea how the market will react.