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I haven’t yet
Hi has anyone had their verici shares ?
Argee Chelsea - I like to think a great deal of thought is being given to an updated investor presentation with robust, tested timescales for the new fermentation capacity in particular - including where we sit in relation to customer onboarding given they seem to be influencing specification. The core business is more than capable of double digit organic growth. H1 2023 could be a bit tricky with reorganisation costs - but this is not a complete basket case - far from it - but no more screw ups or your point on breeding confidence evaporates. SB
SB - I'm also expecting something forward looking, that is tangible and breeds confidence.
So - 27 days until we hear what's really been going on - assuming Baines will want to offload previous issues to Salter's account. IMO the two core businesses (POC and Central Labs) should still deliver FY 2022 revenue in the region of £41/42m; with Life Sciences about £4m. Expect to see a further H2 drop in Contact Manufacturing - possibly in the region £10-12m; with Lab testing reaching £4m. With some minor add ons all in we should be in the region of £ 62/£64m give or take. EBITDA should hold steady - but PBT likely to be hit with exceptional costs. Still no idea who sold/bought tens of millions of shares a couple of weeks ago.....SB
EKF DIAGNOSTICS HOLDINGS PLC will be holding a Preliminary Results meeting on 28th Mar 2023 at 4:30pm BST.
Yes, Chelsea, could have been a "worked buy".
It says sells but often they are discounted buys by an II, taking off shares from MM at a discount for a bulk.
This happened in EAH where over £400k appeared to be sold on the day that the sp trend turned at the ask price at 83p, a few months back, as soon as that occurred, the stock sp's was as if the handbrakes were taken off. EAH rallied until it got sold off.
I notice the same phenomenon with ASTO, at 59.7p, big final dollop, which appeared to be a sell and whoosh, the stock rose immediately to 65p
Contrarily, at TBLD, there were discounted sells (sp was 70p and an II was selling at 50p). The subsequent sp action differs tremendously to what happened here, ASTO and EAH as I mentioned above. At TBLD, the sp fell back as MM sought to get the overhang off their books by selling cheap.
Therefore, IMO, I think these were discounted buys at bulk.
My bet is that this is going back to mid 30's or beyond BWDIK!
Looks like sells to me. So the share price rally was odd I thought.
Am pleased to see the SP gain a little ground but isn’t that a bit odd?
Almost as if someone knew the price was going to drop and had their finger on the trigger.
yeah, must be - overhang cleared - we off to the races!
?
Late March Results will provide an update on the 2023/24 outlook. Glass half full is that the South Bend capacity remains fully on track for Q3 and Lab Testing continues to pick up and will be profitable in the near term. Tangible wording / evidence around those to breed confidence required if the SP is going to climb back up into the 30s.
£250m - yes that’s correct £250m - of shareholder value lost in less than 18 months - 2/3 of the business valuation. Even discounting for the covid boost that’s still absolutely dreadful. Incredible corporate mismanagement and all triggered by a badly concocted RNS with no follow up reassure the market. SB
...downwards...and then down some more!
It appears there's little investor goodwill left - certainly I won't be averaging down and further biasing my portfolio towards its losers.
I wouldn’t rely on the buy sell price at the moment Scooby - could have been a delayed trade. There is no price support evident for now from what I can see. A decent set of results should have seen us trading in the 50’s. Instead we are 50% below - meaning we need a 100% increase to get back there. Any directors buying at this level…..SB
II support -
10-Feb-23 13:02:23 30.41 727,500 Buy* 28.70 29.90 221.23k
At a 3% above ask price.
I have a holding in Ygen and ADL are supposed to be selling their Nipt test I believe. Hope they can pull their fingers out though I know they only launched it last Oct/Nov. They did mention some green shoots along those lines rgds ADL so maybe they are selling a few.
Hawker - I do get the need to put some perspective on this weeks need - and appreciate it was not all disaster level feedback. However / comments such as “ The Company will recognise large exceptional costs in 2022” for me are akin to a profits warning. In H1 2022 the company made a £1.6m exceptional provision - which merited no ‘large’ narrative. Makes you wonder what’s coming. Further / given the level of cash flowing out the business, and bearing in mind our H1 earnings were already suffering - our full year earnings are likely to be below our dividend payout which raises the possibility that will require to be reviewed. The fallout continues and still many issues to be fully addressed. I hold / but as others have commented this is becoming a familiar tale of Harwood led stock fails. And to now blame COVID given the positive impact at the time - truly bizarre imo. SB
Fully appreciate the disappointment here, however the shares are now back at the very dark lows of last summer and therefore seemingly treating the trading update as a major profit warning, which it so clearly is/was not. The core business is clearly growing well and in great shape and the reformed management team now need to demonstrate they can create value out of the ADL acquisition, which is heading in the right direction away from Covid, but clearly needs to ramp efforts in this respect much more quickly if it’s to move from laggard to contributor in the coming year. It’s worth adding here that this is the smallest business in the mix and therefore should not be wagging the dog, so to speak. I also assume with ADL not meeting performance targets that they’ll forfeit the additional compensation agreed in the acquisition terms and that will be a saving in due course. I’m more optimistic about the update in March, albeit just around the corner, as they should be able to give clarity on the speed of the cost cutting related to Covid and the shift of remaining resources to growth. Net net, the shares are pricing massive disappointment, having fallen from 50p to 30p and the news flow into summer should underpin their recovery to at least the 40-50p range. I bought yesterday and am adding more today.
It is a tail of 2 halves. The core POC business sounds to be doing very well. The delay in the fermentation facility would be ok, if it were the only problem. The other 2 issues are the most concerning, an unprofitable Laboratory and a contract manufacturing facility which sounds over staffed and under used. I wonder if the purchase of the laboratory was a good idea? If only they had just stuck to core business, this would be booming. Clearly seems that many poor decisions were made (and problems ignored) of the last 24 months. Not sure if I will remain invested, frankly I dont think they deserve my investment, but I must do what is best for me, and that might be sticking around a bit longer to get a better exit.
I have the feeling this will be a stitch up - either way the business goes, good or bad.
I think we can see from the share price reaction the TU has been deeply unsettling. There are many questions which have been raised and remain unanswered - the majority financial. Until there is further clarity on exactly what has transpired in H2 there is now a degree of risk attached to ekf that was starting to reduce after its rapid covid expansion and exit. I suspect we will have to wait until the full year results to find out what the real impact of yesterday news will be on revenue, earnings, cash for both 2022 and 2023. The further issues clearly relate to a BOD who appear to have been asleep at the wheel which is equally troubling. £100m in market cap wiped in a few weeks - £25m Harwood/Mills alone. Insider leaks/trading. All very damaging and in the public eye. It will take time to regain confidence - but in the first instance we need a clear and transparent set of audited accounts with an honest narrative to reassure investors there is not further trouble to come. SB
Presumably the recent big share sales were something to do with ADL and once those shares have been placed the price should return to a more sensible level (40p plus)
Looks like baby and bathwater price action to me, is this not just another reset before stronger revenue and profit numbers are delivered later this year? I'm happy topping up at this level and see near-term upside/recovery to 45-50p.
Lots of words used here today, to describe how some PIs are feeling.
I’ll just add “shafted” to the list.