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Yeah I thought it was a little over the top too (you need to be a golfer to get that one)
The author of that last post should be escorted from the course!
Great see director buying this level, show of long term confidence
You are certainly not green threeputt! Nice shot! Can't see you being bunkered now you putt some money in here at a good vantage point. Still a fair way to go of course but I think you pitched your entry well!
And that update said
"Outlook
Without accounting for additional works crystalising from Kinovo's pipeline as the Group enters its peak trading season, revenues for the year ending 31 March 2024 for continuing operations are expected to be approximately £65 million (FY23: £62.7 million), reflecting a different revenue mix of projects contracted to date, with electrical services continuing to perform strongly. Adjusted EBITDA is expected to be significantly ahead of last year (FY23: £5.5 million) and not less than £6.2 million, being in line with management expectations. This demonstrates the Board's continued confidence in the strength and resilience of the continuing business and its significant growth potential. Cash balances will reflect the aforementioned costs incurred and the outcome of any potential recoveries from the DCB projects, supplemented by cash generation from the continuing business."
"the Board continues to anticipate the outlook for the full year ending March 2024 to be at least in line with that provided on the 9 February"
I've added
All the bad news is out there and a bid could return at 56p or 60p even. Trading clearly going well so the anchor of the legacy issues can be put to bed. The SP fall is unwarranted certainly at 15% down.
Just as well its one of my long termers, I feel the main business will do well but oh these legacy contracts. Still, almost done & dusted now. " recovery of costs incurred as a result of works that have not been performed to a reasonable standard". Poor British workmanship ? surely not !
Another £2.9 million added, not looking good,
DCB projects has now risen by a total of £2.9 million from the £5.72 million highlighted at the Interim Results issued 28 November 2023. This includes a bond with a value of £0.9 million, on which Kinovo has now received a formal demand, in relation to the final project.
Can't blame Steven. Mr Market is unforgiving if you don't deliver. If they do t sort these legacy contracts there will be a bloodbath. Still holding. With a sore thumb!
Most me gains gone now, disapointing, problem in these markets any slight hint bad news and markets pull price right down, back may 23 prices.
Looks liked the uncertainty has spooked investors and the SP is getting sawed down. Unwarranted in my view but the update is certainly damaging. I hate these shares where you see good gains but these evaporate quickly. Sitting on the fence for now and will add incrementally though I am resting on the company to make sure it's remedial work succeeds. Hopefully no more weather related delays!
I'd imagine that the costs for the legacy construction projects will continue to rise, I don't think 7.1m is the last of it, but 3 projects are done and the remainder are getting there, and the rest of the business is doing excellently.
The business is still worth way more than 56p a share, so bidder better come back with at least 100p if they are serious.
but underpinned by it too. i think the company needs to put these legacy contracts to bed and no more verbal ****roaches to emerge. trading is strong it is just being weighed on by these contracts. the bidder did say that the legacy costs were being understated but if all the badness is out there then unless they come back with a much improved offer the bidder is a busted flush.
Would be nice but they already bought £70k between them only in Sep 23
Like c some director buying, should recover in time.
A blip in the uptrend
DCB contracts additional costs of £1.4m+
Or a pivot point after a strong run up. H. I suppose pis might be tempted to lock in profits. Seems buying interest remains here going by trades. An announcement might also come to say all nit one legacy Contracts are complete which with an update on the remaining one might actually give KINO a second wind so on balance I retain all my holding with a top slice figure of 80p in mind.
Tricky one. I have had ITM and WOSG go to 700p and 1400p from 100p average buys and 220p respectively. In ITM's case I am now nursing a loss. This share has had a good run up and when speculation starts about high can it go it might be selling time. Still holding all mine though having been a buyer fro. 27p down to 18p and all the way back up to its current SP.
Normally find the shares I've sold out on I regret selling later at a higher price, so hanging onto these as best I can personally. Stockopedia rates it highly too. I think £1 in the short term might be a big ask, medium term yes
Made a modest profit on these so far so looking at an exit price. Do we think £1 is achievable in the short term?
And one terminated that's two third of the legacy drag removed. H2vweighting means if things pick up as expected then the solid foundations of H1 will be built on. Looking forward to further moves higher by year end 23 and hopefully more gains as the legacy issues unwind.
Looks like Jona35 or a fund has bought in. Unless it was fat 👉 fingers. Nice jump at any rate.