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it is time that CENKOS under title OUR PEOPLE updated their photographs and not leave them blank it always use too does not look very professional
On the up would be nice.
interesting purchase
I threw the towel in at 70 odd pence for a quick weekly trade a year or so ago ....
... having bailed as an investor around 115p ... quick profit ... and waiting for real blood to spill here Cenkos was too dependent on Woodford ... and investors in Woodford overreacted IMO ... personally I saw his face too often in adverts so stayed away myself.
Turnover down 45%
Cash down 33%
Loss for six months of £0.2m
Interim dividend held at 2p.
However "...the second half has started well with a number of transactions completed including an IPO. This means Cenkos has completed two of only seven IPO's whose shares were admitted to trading on the AIM market in the period to August 2019, which demonstrates that Cenkos remains the leading AIM broker, raising money even in very difficult market conditions. Pipeline for the remainder of the year and for 2020 is encouraging. We continue to evolve our business to adapt to market changes and remain at the forefront in providing capital and solutions for growth companies."
The actions include getting rid of two directors. The new/reinstated CEO is taking control here.
it would be an obvious cue if Jim Durkin had a good pedigree or track record. He has neither. Cenkos has struggled for strategic direction for years in an increasingly challenging market. The limit of the Board's vision has been to open Liverpool and Singapore offices in recent years and to buy back share to further reward employees. A joke. The most promising characteristic of the returning CEO is that he has a decent equity stake which he may try to monetise at a reasonable level before retiring again. Time to throw the towel in.
Grabbed a few this morning ... waiting until a new CEO was appointed an obvious cue.
The return of Jim Durkin as CEO is good for Cenkos also the fact that Will Rogers head of the investment trust team staying is positive .At the moment of this message i am not a holder of Cenkos shares
Expect Cenkos to be put up for sale.
I also meant to say that here seems to be a reaction to the new CEO, with a chunk of the investment team leaving. That is not good, but the same happened at Miton a couple of years back, and there was no discernible impact in the longer term.
The EBT purchases are undertaken to provide stock for staff bonuses, so no chance they will stop. Much of the cash in the bank belongs to clients, so the company is not in as healthy a condition as it at first appears. BUT this should still pull through. Next update is "late September"!
Make that 20%. I wasn't aware that H1 last year went that well. These will be pretty bleak results. Albeit this firm has cash in bank.
Last results showed 33m cash in bank. Market cap of 21m. Unless they are predicting losses of millions this makes no sense. They really need to stop doing these EBT. Throwing good money away on a collapsing share price.
"the Company's revenues in the first six months have been lower than the first half of last year. The Company's revenues are anticipated to be substantially second half weighted.....The Board also confirm that a number individuals within the Company's Investment Companies Team have tendered their resignations. "
Price currently down 10%.
Weakness is in part due to an FT article that says Neil Woodford, put a great deal of business the way of Cenkos, and this relationship is now necessarily at an end. The last statement remained optimistic, but deals have not been materialising.
It is interesting though that today there were four huge sells, totalling 1.9m shares, but the price did not noticeably fall.
Are Cenkos weak because of a rumour of bearish news of another broker
why has there been no announcement on approval on Jim Durkin as CEO
Trouble is, aside from the small floatation announced today it is not obvious they have done any placings/capital raise this calendar year. So any strong results y/e 31st Dec will be tempered by an outlook statement that will suggest they will be significantly behind this current year. It is possible there will be a huge upsurge in fundraising if Brexit gets sorted one way or the other - but how likely is that?!
PER = 7.5
No debt
Possible 5% yield
Update in December said 'ahead'.
Price now not far off a two year low.
c£3m spent on shares for EBT this year
Results due in a fortnight
Dealmaker Durkin back ... grabbed a couple ....
This is great news to have Jim Durikin back out retirement, we can expect some growth again. Hotson was more Coldson - Didn’t achieve anything at all.
Plenty of red flags here ... my final one was Oil and Gas group leaving .... NAV in the 50s is the target for me I bailed most in January and the last lot in March ... GLA holders.
Major issue is Brexit. That and many retail firms going under. Such a dangerous time to be raising millions.
It only takes one big deal for IQE to turn a good profit. Question is will that come soon?
They are debt free and sitting on cash. As long as they are making money that is not a bad thing, SP down today. Question is long term will this recover strongly?
I'm out. Held these for about 5 years and will take a hit but I can see no real cause for optimism, in either macro or micro terms, in fact my faith in management is dented. Best hope is that they get bought out, but what are they worth in the current climate ?
H1 revenue down heavily. Profits down to 0.5m from 4.5m. Last year they had a one off client who brought in 11m. This year highest was 2.6m or so.
Least they are not making a loss. SP supported by this buyback scheme to tune of 70k worth of shares a month. Are they propping up a weak share?
The transactions announced on website don't look great. None above 50m since May. Only one above 100m. (170M)
Certainly not worth 150p based on these numbers. I suspect Brexit is causing them issues. Need to read report in more details.
150 p and you can certainly have mine