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Try £6 to .80p in 6 years. Terrible elt who have overseen the destruction of this company.
There needs to be a shake-up in my opinion.
Perhaps Crystal Amber can finally offload to a trade buyer, precipitating a bid situation?
Something needs to happen to get us out of the mud.
Not a good look. Guess the board members involved in approving this thought it would be a great idea (?). Worth checking what other boards they sit on. The share price going down hurts us all but at least it is a signal that this is unacceptable to the shareholders, the city and probably their own staff. Wealth destruction is one thing, credibility destruction is quite another. Let's hope that is the trigger for change.
More juicy share awards for management announced today... !
DLAR seems to have turned into a tin-pot company designed to enrich management only.
Thanks for the link. I agree with everything Crystal Amber say about the way DLAR is managed. Crystal Amber are on our side.
Shocking to see Vacher trouser a fat bonus while presiding over this massive value destruction.... there is no alignment.
Seems Sky agrees
https://news.sky.com/story/de-la-rue-chief-has-licence-to-print-his-money-top-investor-says-12642684
£2 to 80p in a year. Demolished shareholder value. The circus wants it's clowns back
The pension fund continues to be a drag at £15m per annum for the next 7 years. A competitor may put DLAR out of its misery but who knows.
Last time i bought was before the fund raise at covid time and made a healthy profit. This is once again coming into buy zone. But only one thing concerns me from full year results:
Revenue was £375.1m for the year (FY21: £397.4m) - revunue down
Operating profit of £36.4m (FY21: £38.1m) - profit down
Strong operating cash flow generation of £18.3m (FY21: £5.6m net outflow)
but the net Debt concerns me, which went up by 36.5% from 52.3m to 71.4m
Keeping an eye on this for now.
I'm not sure about Paul Scott - he gets a lot wrong - but still, every little helps as they say.
Also helpful, maybe, is today's RNS stating that Odey Asset Management bought some shares on 27/05/22. I think Odey are quite astute investors.
We could do with a change in wind direction.
...says "My view, is the bad news & uncertainty are all in the price, which looks really good value for longer term investors. who can cope with share price volatility." PER is now 8.2; 17% return on equity; earnings yield 8.8%. On their metrics DLAR scores 88% on a quality basis. I will hold, and add sub 90. We need to wait at least two years here.
Bod supposedly the best in the world! paid muppets I say avoid buy at 50p
- Unwinding the CRS fund inevitably takes time.
- The share price is already near the 80s, lol.
- 'Salvation must come from within'. Well, I'm doubting it will come from the current management - they are next to useless (CRS are right there).
All-in-all, quite depressing.
CRS has been saying that, or similar, for a very long time. Any potential suitor will now let this run down into at least the 80s, before an offer would be made. Giving a 30% premium, which would be reasonable, would only then give us c115. The price was at that level a couple of months ago! Salvation must come from within. They need to win more, and better, contracts. In the meantime, I am holding!
"Given its current rating, the Fund believes it is highly likely that in the coming months, De La Rue will be the subject of a takeover bid from one or more of its overseas competitors. The Fund believes that this will be the inevitable outcome of management prioritising 100 per cent capacity utilisation rather than cash gross margin maximisation." - Salient words from Crystal Amber.
This has a long way to fall to covid lows of 45p. Got my interest at below 80p. GLA
If the market falls, it will take DLAR with it, but it is interesting to see this pottering around the 100 mark. I had a limit buy in at 99.5 and it has not been triggered. Where we finish today is important. If we hold above 100, we may see a bounce tomorrow, then we will likely follow the market unless news emerges. As we are profitable, I am happy to hold for now and see what develops. A single big contract would be transformational, but with CRS selling down an immediate full recovery is unlikely for nw. Bottom draw time!
My guess is 70 to 80 pence and I don’t think a bid is possible. Just another company hit by costs and there is no sign of this abating. My guess is this will get a lot worse as the war in Ukraine drags on and as inflation roars up. Have a freeroll holding here from when it went to 180 plus. No point in selling but def not a buyer of more
Yup. Underwhelming. The wait for any kind of meaningful recovery continues...
Outlook: FY2023 to be flat on 2022. Headwinds continue.
"Since the end of our financial year, De La Rue has experienced further headwinds that are anticipated to have an impact
on adjusted operating profit in FY23. While the Company is making significant progress in its transformation programme,
the external environment is providing a substantial degree of uncertainty in the outlook. In particular, supply chain
inflation is anticipated to increase Group operating costs by an additional net of £5m this financial year, and there is a
possibility that disruption may affect revenue. For this reason, the Board now expects that adjusted operating profit for
FY23 will be broadly flat versus FY22, and weighted towards the second half. "
"...consistent with guidance in Jan 2022".
Revenue down 5.6%
Operating profit up 104%
EPS up 186%
BUT exceptional items £5.7m make a mess of the figures!!!
Turnaround is underway, but at a glacial pace!
...due this Wednesday 25 May.
Good that the debt level appears to be improving for now.
looks like DLAR would have a better year after-all
The Company expects full year adjusted operating profits to be in line with market expectations ( 1) . Net debt is expected to be slightly better than the market expectations of £75 million.
Up we go: