The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Exactly. It's excellent to see that FY 2024 revenues are expected to be materially higher than FY 2023 revenues of £4.0m.
Plus that revenue of £2.4m for H1 2024 more than doubled from £1.1m i.e. 117% up. That's impressive. It's all coming together here, albeit slowly...
Good luck, Brighty
I opened interims rns with trepidation and closed with pleasure. It genuinely sounds as though they are on track to deliver strategy. As Muck states lots of positives in there and though my own break even is far off in the distance let’s hope Abingdon can deliver their cash flow positive and break even in 2024 as stated.
All very positive, but these are the things that stood out for me;
He hasn’t given us current cash so we can’t extrapolate current burn
He has said H2 revenue will be materially higher than the £2.4m H1 24
Crucially, however, he says “ The primary objective of the Board remains to move the Company to a breakeven and cash flow positive position which it forecasts will be achieved in 2024 without the need for additional funding.” At the investor conference Yates said positive cash flow would be reached at £8-9m of revenue. That would therefore indicate that H2 revenue will be £5.6m - £6.6m, which is truly fantastic!
And of course “no additional funding”
Great interims as far as I’m concerned and can’t wait for more details on the own brand retailer work.
Current Trading & Outlook
· Trading in the first two months of H2 2024 has been robust.
· The Board therefore expects that H2 2024 revenue will be significantly improved compared with H1 2024. As a result, FY 2024 revenues are expected to be materially higher than FY 2023 revenues of £4.0m.
· The primary objective of the Board remains to move the Company to a breakeven and cash flow positive position which it forecasts will be achieved in 2024 without the need for additional funding.
I too have felt the frustration of investing in smaller companies over the last 2 years during unprecedented and unfortunate events which have affected global economies but what is the point of publicly declaring your frustration in an investment opportunity if you genuinely want it to eventually succeed for its own sake and yours. Get a grip!
Ofc I do and trust me when I say I’m well and truly in water like many others on here who have been here for 2/3 years since we started the transformation to CDMO. Matter of fact is where we are is very frustrating with lack of comms left to wonder what could come out tomorrow
..and besides, I want to see a damn good company succeed? Don't you Trader 90?
...Well perhaps Yates is aware that many investors are not that reliable when it comes to hanging onto their investments these days. How can he be that interested in the quick- buck boys? No news may Well be pretty good news in this case.
All I see is Yates posting non stop on LinkedIn, but radio silence to investors!! So frustrating. Started to think, have we made a mistake here..
Well I think the share price is ridiculous but simply typical of what's happening in the market generally pretty much everywhere. The fundamentals of this company add up strongly for me and it seems like one of those rare chances to buy cheaply into a strong and innovative company ready to stride forward after long challenging delays. It may not all happen tomorrow, and it may not be benefitting from any hyped up news right now, but it sure feels like a safe and solid bet to me. I think all serious investors are looking out for opportunities like this one and I'm happy to put my money where my mouth is..especially at these prices!
Difficult to argue against the sentiment here given the general radio silence.
DrM - you could of course be right, but if you are I’d be surprised and incredibly disappointed given everything Yates has said.
Maybe their thinking of delisting and going private then raising cash like LOOP have done recently, that's my worry when directors hold so many shares. I'm so underwater here it's laughable or cryable !!..my day's of investing in the junior market are well and truly over...been bitten way too many times..got more chance of been profitible at my local casino !
Ditto, I am expecting some form of funding tomorrow and mediocre results... They have kept absolutely silent which has drained all confidence and closed this one down. As a result, there's been a continual and steady decline in SP. There will be a harsh drop on anything close to negative and maybe 9p if they pull off a good set of results... Then radio silence and round and round we go.
I agree, I invested after reading about Salistick but no (or very little) promotion/advertising.
Very disappointing....
ABDX has done near zero to promote themselves - it's just a void here. Hardly surprising that nobody is interested in a company that seems (publicly at least) to have very little to say. Like many, I'm seriously down here - but until ABDX start to show some spark and initiative it's hard to see why anyone would buy - they are their own worst enemy. Is Yates still alive?
We have hit a new low of 6.75, struggling to believe how market seems so disinterested in this stock. Just hope tomorrow will get us back to 10p plus and no further drops
One thing I always forget is our relationship with MyHealthChecked, ticker MHC, previously called Concepta. In 2020 we acquired their manufacturing site in Doncaster and agreed to provide ongoing development and manufacturing services for them, and in 2021 we agreed a global licence with them to use AppDx.
They of course are now selling their “branded” tests through Boots, but they don’t actually make them. Just makes me wonder if some kind of further collaboration with them might at some point be in the offing at some point.
Only thing I would add is that we are predominantly a fee for service model which means Yates will have a very good idea of future revenues, which will be based on project timelines and milestone payments. So when he says revenue will be higher, he should be basing it on good numbers.
Fair comment Trader!
We can only go on what Yates said in the Investor presentation, which was that;
Like the H1 comparable, he is expecting material growth in H2 this year compared to the £2.9m in H2 last year.
Costs in H2 are lower generally
R&D credits are received in H2
No one off "settlement" costs in this H2
No longer paying a CFO
Good pipeline..
I hope for, but doubt he will give a full year revenue forecast, If he does, I am hoping for H2 revenue of £3.5m plus. I do think he will give us an up to date cash figure - anything North of £1.35m would be OK I think).
Being critical here, market would usually price the announcement in the lead up… I can’t see any rise at all. Either the market doesn’t think it’s going to be substantial or they have given up with Abdx
I note the latest job add for Production Operative roles at ABDX and this addition.
"Further down the line the shifts may change to days/afters rotation or regular evenings - we will discuss this with you"
It's currently a temp role but with what they say above it looks like they are prepping for things to get very busy as soon as that new contract is signed, regulatory approval is given, advertising campaign kicks off, new product completed ect.
They know things we don't yet, and the signs are positive, that they see a positive (near) future.
https://www.google.com/search?q=sand+hutton+jobs&sca_esv=31c11a842872212b&sxsrf=ACQVn09J7xM3eguLdzgERrtgdqqFiiO4fA%3A1710232915697&source=hp&ei=UxXwZdOCKN-rhbIPmdON4Ac&oq=sand+&gs_lp=EhFtb2JpbGUtZ3dzLXdpei1ocCIFc2FuZCAqAggAMgoQIxiABBiKBRgnMgoQABiABBiKBRhDMgoQABiABBiKBRhDMgoQABiABBiKBRhDMgoQABiABBiKBRhDMhAQABiABBiKBRhDGLEDGIMBMgoQABiABBiKBRhDMgoQABiABBiKBRhDSIgnUN8LWPwhcAJ4AJABAJgBwgGgAewGqgEDMS41uAEByAEA-AEBmAIIoAKWCKgCD8ICBxAjGOoCGCfCAg0QLhjHARjRAxjqAhgnwgIQEC4YgAQYigUYxwEY0QMYJ8ICCxAAGIAEGIoFGJECwgITEC4YgAQYigUYQxixAxjHARjRA8ICCxAuGIAEGLEDGIMBwgIOEC4YgAQYigUYkQIYsQPCAhQQLhiABBiKBRiRAhjHARivARiYBZgDH5IHBTIuNS4xoAfwMQ&sclient=mobile-gws-wiz-hp#fpstate=tldetail&htidocid=VamN8fbfm4qYQMbvAAAAAA%3D%3D&htiq=sand%20hutton%20jobs&htivrt=jobs
Sorry, here’s the link
https://nocamels.com/2024/03/new-home-pregnancy-test-needs-saliva-and-no-bathrooms/
Another piece from the latest Salistick marketing push.
This one’s more interesting because it gives a better idea of current sales numbers;
“ The UK launch was soon followed by one in Sweden, which Krief calls the company’s best market as Swedes are more willing to try innovative products. There, Salistick was introduced in every pharmacy in the country and even gynecologists started recommending it.
“In a few months, SaliSticks has already sold over 100,000 units. So it’s encouraging,” Krief says. Around 840 million pregnancy tests are sold every year, according to Saligostics.