Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Seems the company is in a very healthy position atm. Looking at their financials and most recent performance they seemed to have done exceptional. Or am I missing something?
Would be good to understand kitous’ motivation. I know it says for his own financial gain and to further his own profile but would be valuable to hear his side. And what that actually looks like? Maybe someone on here more knowledgable than me could help explain?
The share price looks way undervalued to me. And reading into their plans for growth I was excited to see where they could get too in 12months - 2years time. Let’s see how it develops…
If 47.6% of shares in issue have voted not to reelect it is a slam dunk. Todays rns was necessary to preempt an SP crash which might have happened without a prior explanation but what his happening could result in a profit to existing shareholders if a takeover is planned by Kitous once he has his nominees in place.
I haven't received anything from HL related to voting. I didn't expect to vote. What makes you think they won't get re-elected? If Kitous holds 47.6% then that leaves over 50% who may vote against his motions, which was I thought stagnation was more likely? The RNS paints Kitous in quite a bad light and I personally think the management have been doing a good job. I wish there was more clarity on exactly what is being voted for, what percentage is needed and what is the roadmap thereafter - in the meantime I am still holding but thinking it may be wiser to sell ahead of the AGM.
For an RNS of this nature to reach the market then relationships, in my view, must have deteriorated beyond repair.
I opened a small position in Tasty. It offers a similar picture to Comptoir (big revenues relevant to small market cap with net cash higher than market cap).
Sounds pretty bad and expect they will not be reelected. Kitous needs to be a bit more patient if possible. He is just trying to maximise returns but current management appear keen and are performing well. I did not get the voting flagged up by ii; 75% required of total shareholders to delist and not sure if that means paying off shareholders or taking them private too.
Greed ruins everything nowadays.
Anyone have any idea of what happens next?
Assuming at least 75%(?) needed to pass resolutions, does this mean, assuming Kitous cannot gather at least 75% support, the company simply stagnates until an agreement is reached?
As Kitous has 47.6%, surely he can block any resolution?
If anyone has any insight in this it would be greatly appreciated!
Overall, a very good set of results. However, the company is right to emphasise the potential/likely negative implications of the tapering of government support as well as rising costs and the squeeze on discretionary budgets. The cash pile appears earmarked for expansion, which I hope they do wisely. Although I don't think it would be prudent to pay a dividend, I wish the report had more language suggestive of an intention to eventually pay one in the near future (as buybacks would make no sense given the small free float). Even if they are intending to sell the business to another restaurant group or private equity one day then it may still increase the perceived value of the business to include some dividend-positive language ("we intend to consider paying a dividend once we have reached point X in our expansion plans".
Stanstead airport opening was mentioned as being anticipated soon. They did say that they wanted to continue franchise openings (as a low capex way to expand, especially abroad), which seems a prudent way to grow the brand. It is difficult to understand why this remains so undervalued (relative to it's "fundamentals" as well as other restaurant peers), but the fact the shares are so tightly held must be a factor.
This 4 day holiday is going to be very good indeed for this type of company. All booked up I reckon......how many folk are not going abroad this year having seen the travel chaos? Me for one....I booked and paid for a Cunard cruise in July for me and the wife. All suddenly cancelled (money now returned). Not enough staff. Rubbish pay.
Was dumped hard, will take months to get back to 11p but will go way beyond next time.
think i got a good price @ 7.3 looks like it is going to nil at this rate.
is EMAN, still hasnt got back to its pre-covid highs, yet top film slate batman, top gun etc.
Well I bought mine in May last year and haven't added on the way down (perhaps I should have done). there was little point in me selling today at 11p after holding for 12 months. With the amount of shares in issue, this will probably pop again very soon to much higher than we saw today. I was tempted to sell today but I'd like to
see where this goes now over the coming months, IMO that could be several multiples of the current SP. Each to their own.
The ridiculous 10-25% spread here and low liquidity make the shares pretty much pointless to trade.
Yes the company got a lot of support but they have a lot of cash well above the current mkt cap. Over 11p today was a good time to sell some and I am sure many long termers did. However I am also sure we will have another move up soon with this an obvious target for a bigger firm. One to watch if it drifts back to about 6p…I will be watching carefully to buy back the ones I sold
Trotsky. Perhaps you should have posted this as well: All sites closed from 5 January 2021 for indoor dining, re-opened in April 2021 for outdoor dining and dine-in from May 2021. Sure there was 4m of covid related income, there was also significant disruption to operations due to covid. I wouldn't expect these disruptions in the future any more than the 4m you refer to.
Don't want to rain on the parade but these results include £4m of Covid-related support income. That's unlikley to recur in FY22, against which you have rising utility and staff costs and (likely) inevitable belt tightening by customers over the next 12-24 months. It seem likely that FY22 will be breakeven at best.
Balancing the books now, will be back to 18-20p by close on Wednesday.
It will go even more. :P
Its expected, been expected for weeks.
100% rise today , shouldn't the rampers be all over this?
Good results. Impressive how much cash they have.
I think I would want to see another good year before got excited - a lot of this might be covid grants and staycation related.
Question is any other similar businesses in AIM likely to be posting up similar results. Well it s for me anyway given this is already 76% up. If had spare funds would have bought earlier but still with these jobs can take a day or two for the skeletons to come out the closet of why it got so cheap.
Cant buy. No shares left.
Moving again
Brilliant little business, Have eaten in these Restaurants a lot and the quality is high. I used to be a chef also so my standards are high. Saw these sitting at 4p over the last lockdowns. Absolute steal for the business. If I had the money, I would have bought the whole company for what its been trading at!
Should still be marked up higher yet. Hold till 15p for me, no matter how long it takes. Next years results will be even better. GLA.
Just had a skim read these results are beyond expectations. Sound cash management, maiden profit, 2m! Confident these guys will see us through the challenges ahead. Would like to see more of the shawa brand openings as these streetfood type stalls are very popular in London right now and with lower price point they will help the company navigate the spending squeeze.