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Classic, slow exit by founder as shares have been pumped by market makers to allow for higher priced exit. Firm not strong enough to fund aquistions via free cash flow and management not good enough to realise any synergies from past aquistions hence the static gross margins. Firm had one lucky idea of ifa consolidation forced by rdr review. This is now well behind us and statergy stale. Top management lacking in experience and skills to run firm of this size, and trying to be too many things and badly.
Fortunately this share being off the radar means one can top up without too much pain which I have done; the fundamentals seem good and the long term strategy sound. Anyone else think the same?
Also is it not madness to raise div 50% whilst paying and raising debt at 7.5% aka junk bond levels look at who benefits most from div rise!
That's a nice pay day that the directors seem to have given themselves for very average results i.e. margins below peers. CEO seems to be a ftse 250 esq package, annual report will show the pay rises and bonus the have give themselves at the top
Ah the old facebook trick (a la whatsapp purchase) - use over inflated paper (shares) to buy firms on the cheap - only problem is finding firms gullible enough to not realise they are being bought with overvalued shares. this firm has a mkt cap of 29 mill - how? it has no assets - doesn't own its buildings or client base so 29mill of intellectual property for a firm I bet you haven’t heard of!
Beats me, looks ridiculously overpriced! Revenue of £11m with £1.1m PBT last year expected to be £15m with £1.7m PBT this year according to Edison analysts. Growth in 2015 expected to yield revenue of £18m and £2.3m PBT
why this firm is valued at 28mill when it has 750mill of fum and firms like European Wealth Group which do the same manage 820mill and have a market cap of under half this?