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haha, yep PFC is one hell of a share. Biggest earner for me overall this year by a long way but always been a difficult one to time. Never know really i suppose. Loop could still turn into a goldmine yet. Fundamentals haven't really changed since i bought in i suppose. Results will tell all i'm sure.
" i only wish "
Paddyboy1....we all use those words at some time or other.......this game doesnt get any easier...that is for sure...
I actually sold my trading shares in PFC at 107p but have a LTH that I bought whilst under 100p believing the new BOD has a future...what a long,long saga though...jeez
Poker, i only wish i'd left the cash i chucked at this old dog in Petrofac!
the share remains firmly in the "show us what you can do" zone... at present ....
In every sector right now I suspect there is quite a competitive battle going on...and everyone is fighting to keep new contracts maintained at a certain margin level....whilst business is of course pressing to sign new contracts at the lowest price/highest service level ..
what is needed for sure is an "honest" appraisal of things from the BOD without waffle and blah,blah
I suspect that a full appraisal has been conducted in terms of operational costs, platform investment needs etc etc ..and all of that needs to be disclosed
Their Twitter can hardly be described as "exciting" either
https://twitter.com/loopup?lang=en
Paddyboy1 - you're right, there's no interest, the upside is that any renewed interest should see a strong recovery.
Unfortunately, the management have not provided any reason for anyone to pile in, sadly you are a case in point - you would not be even be contemplating selling if the management were providing a compelling business case.
I've said it many times - it's all down to the management, they've caused the problems and they can sort it by simply achieving operational success - they don't even need a bottom line profit if they report growth.
I'm still hopeful the results will contain some pleasant surprises.
For me, the decision will be made based on the forthcoming update. If it's rubbish i'll take the big hit i'm sitting on here & bail out. If things looking better then this could see some nice rises. Very disappointed in this one though. Atrocious management. Daily volumes say it all for me. No interest in this stock!
Ian.B - you say "office workers who have been working from home for 18 months and will have already sorted their call/meetings provider contracts."
That's obviously not the case, or there would be no business for anyone, isn't there an annual customer loss percentage of about 18% for the sector besides companies adding new services - Loopup have lost the less discerning customers (non-PS) and seem to have accepted that those clients are not worth fighting for. But customers are reviewing their changing needs like never before - lots to fight for.
Loopup's efforts are focused on growth of PS, Cloud Telephony particularly targeting companies with an international requirement - that strategy has not been tested yet, the customer losses you reference are annoying but predictable as covid caused customers to review their needs like never before and after the initial spike many switched to new, cheap, suppliers that came to the fore (e.g. Zoom).
I'm not scratching my head - THEY'VE TOLD THE MARKET they expected to lose customers because of increased competition and a botched MeetingZone integration. Covid simply masked the impact which was incubated in H1 2020 and only became apparent into H2 2020.
They said of MZ integration:
"While this major transition project was successful overall, the Group experienced subsequent intermittent service issues during November and early December 2019, which gives rise to the potential for higher than normal churn in H1 2020. All service issues have now been resolved and normal high-quality service levels have been resumed. We are focused on mitigating any potential impact."
So they screwed up and almost certainly set in motion a sequence of events where customer went to the market to consider their options - decisions to move are not instantly implemented but this compounded other pressures.
IMO those for the off will by now have acted - the company make a point of highlighting the growing number of clients now switched to committed, more reliable contracts.
The new strategic approach is working (as far as we know) and is not impacted by the above factors, and if they've spent the cash to push ahead with growth then GOOD - investing in the future is not a negative IMO.
office workers who have been working from home for 18 months and will have already sorted their call/meetings provider contracts. The last 18 months should have been a time of richness for loop, H1 2020 was great as there was a panic scramble for providers - 6 months later the initial scramble subsided and loop seem to have lost a lot of those early customers to rivals. H2 2020 and H1 2021 have been very poor for loop at a time you would expect them to prosper. Its a head scratcher.
Its fortunate they accumulated a nice cash balance in H1 2020 to see them through.
Results soon so it will be interesting to see whats left of the £12m.
lol - stew200.
Office workers will just have to work from home to stop the spread, and the sooner they are signed up with a Loopup account the safer they'll be in my unbiased opinion.
probably the vaccine lowering everyone's immunity so we will see a huge amount of cold and flue cases.