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The doubters are kicking themselves now...
Should of bought in below £1, bargain!
Hi rag, considering this is a start-up on AIM that's never paid a divi the latest results are about as good as you can get!
I've done a couple of dozen AIM investments that have just disappeared into administration or re-appeared with the old shareholders (me) wiped out.
I've sold enough FFX in the past to make my current holding pure profit. This is only the third time I've managed that but other shares are sitting comfortably well in profit - apart of course from the ones that ain't!
The AIM is a sort of watered down Wild West. My message is don't kick a gift horse in the teeth but enjoy the rise and perhaps take a little profit?
Nice results, as previously guided in January. Very good start to first quarter may lead to earnings upgrades as the year progresses, despite the Brexit headwinds still in force. Should also mean continued further strong growth into 2020 as the cost streamlining comes through and hopefully a successful venture in the USA. Operational leverage superb.
This is one of the few shares you can buy and hold without worry. No need to frequently check in on the share price, or for that matter, look at the message boards! More than happy to hold till this time next year - would be expecting a SP comfortably at 150p in 12 months and 200p in 24 months. Once Brexit clears, the shares may re-rate upwards again, which would add 30-50% on to those price targets.
I have just re-watched the Proactive video from March - a good useful reminder to the company's plans and interesting comments at the end regarding the market's valuation of the business - be patient and the market will catch up.
https://www.proactiveinvestors.co.uk/companies/stocktube/12486/fairfx-ceo-ian-strafford-taylor-updates-on-supply-chain-streamlining-12486.html
Start of Cenkos Note FY18A has been a transformational year for FFX in terms of financial and operational delivery. The company confirms today that FY19E has started positively with +43% rise in Q1 revenues. With further operating leverage to come through in FY19E, we see great value in the current share price.
May go a bit upwardly mad towards the close today, or during lunchtime.
Some reasonably weighty buys gone through with a full ask of 107p having been paid.
Taverham I know what you mean! A few more rises like today are very welcome. The market likes the numbers which is a relief. The recent SP action has been a bit painful.
Truro, I'm talking about profit, not revenue. A £2.5m reported profit makes a market cap of £170m look pretty punchy. A couple of years of £10m+ profit and this will be 50% higher and we may even see a dividend.
Hi Rag, Caution is a great thing and I appreciate that one swallow does not a summer make but with the last 5 years revenue figurers as follows: 5.48M; 7.97M; 10.19M; 15.41M; 26.1M plus profits for the last 2 years we have no winters anyway!
rag, understood but it is nice when one swallow comes along. All we get are red kites and buzzards picking over any meat they can find!
Taverham I'm not particularly worried but one summer a swallow does not make, as they say. I will feel more comfortable when they string a few results like today together. I'm very happy with the maiden profit in 2017 and the huge improvement this year. And it's a genuine profit as well, ignoring all the adjustments. But I would like to see that £2.5m a lot higher and recurring. It's a very competitive market out there, we need a couple more results to reinforce the strength of the business model, the scalability of the platform and the competitiveness of the brand.
Overall I'm very pleased with today's results and trading update yet I always try to be sceptical and keep an open mind.
rag, i think the q1 is as you say the key result for the market not sure why you you are worried about sustaining?
Slightly messy set of results with a lot of one time transactions being stripped out.
2018 costs down H2 v H1 which is positive. They have been talking a lot about supply chain rationalisation and the associate margin benefits and good to see them delivering and starting to sweat the assets. The business continues to demonstrate tremendous operational leverage.
Key here for me is the YTD performance with Q1 ahead of expectations. I think today's result and outlook should satisfy the market - it looks like the recent SP reaction has reflected nervousness around 2019 outlook and Q2 pound weakness. Today's result takes that next step towards derisking the path to sustained profitably.
the growth rate puts historic p/e below 30and I would guess current p/e below 20 which imv is too low. Hoping for at least 20% on sp today. fingers crossed.
Nice set of results and expecting to hit expectations for this year.
Thanks for the link jsmith.
Interesting that they're moving more and more to commercial customers. The greater number of transactions per client, even at a lower margin, seems to be the key here for me - particularly if we crack it in the States!
Share Watch main recommendation
they also hold 10000 shares
Looks like some body buying in the background. Price is stable.
No I don't think so. They converted 7.5m warrants into shares. However given they havent notified of an increase they must have sold an equivalent amount in the open market.
If they acquired 7.5m shares for £2m (27p/share) and sold them at 100p then that is a very tidy profit. Thus far this has been a very successful investment for Crystal Amber!
I see so CA have increase their holding in FairFX?
James their interest has been previously disclosed. They have been diluted as a result of the conversion of warrants into new shares by Crystal Amber. This could explain the recent SP movement with CA selling shares equivalent to those converted from warrants on the open market (Given they havent announced an increase).
https://www.marketscreener.com/FAIRFX-GROUP-PLC-17109493/company/
Pembar Ltd (British Virgin Islands) - I have never heard of them suddenly announce a 17.6% stake - no discloseable interest previously. Anyone have any insights ?
Dilution by any chance?
Whats the RNS about?
Resistance @ 1.05, can we break the deadlock?
Not all those which say they are buys are really buys. For example, the 2 trades around 13:56:50 on 19/3/19 for around 150k are both done at lower prices than previous buys but at a higher volume. 101/105 was not the true spread at this time, it was 103/105 (I checked) which meant the trade was done at the midpoint.