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Real company, making real (but lower profits). its taken a 92% fall in share price in the last 12 months. Assuming its still a going concern can anyone see much downside from here?
If anyone is interested https://www.lawgazette.co.uk/practice/simpson-millar-owner-reviews-business-amid-job-loss-speculation/5059622.article All the best GLA.
I am not sure who is responsible for this , the excahnbe or market makers = maybe someone will tell us
their excuse for this i heard some time ago was that computers do no recognize properlly some some of the trades - also that computers report trades later even days later for reaso ns i can't remember
Why do the market makers show buys as sells. This happened with this stock both yesterday and today, and I have evidence of these errors. Are they deliberate to mislead the market? Could they be considered as market manipulation? Could it be fraud? Has anyone any views on this market misreporting?
Arsene Wenger Plus 2 more pieces of bad news to follow in the coming months. It may go up slightly but take your losses now I say and look to invest it elsewhere.
Nearly 20% down since Monday. This is a dog that's had its day. Get out while you can.
nice order mate nice price aswell 15.34
thank you good luck guys happy
increase in holding Rns gave me assurance added more way too under valued
BOING!!!!!!!!
and it shows as sell...
Don't touch this share or any other one in the sector. It's finished. Over regulated and income restricted. I know, I promise. Not a holder - I wouldn't go near it. Ditto Begbies and that other IVA factory.
I'm not in this share and was watching it in the hope of buying. However, at the moment I can only estimate the bottom, which is zero, and therefore anyone who buys now does so at their peril. The market does not like Fairpoint at the moment and the shares price tells you all you need to know. However, if you're a trader who can spot recoveries, and phoenixes coming out of the ashes then I'd be interested to see when you think the company is going to do a reversal, as now is not the time.
thank you very much Johnny for your input all the best
Thanks for an excellent post, Johnny. I think the trouble here with possibly venturing in at a seemingly bottom low, is that these guys in the finance area are always a step ahead of mortals and they are also fine wordsmiths. Tenon a prime past example of how how many lost so much - didn't they also do a rinse and repeat the awfulness? NAHL - also in an area close to that of FPR, but see the drop there, despite their excellent reporting of the company's affairs. Maybe this is one of those where the desire is to pick up close to the bottom, but perhaps best to really see the bottom before taking a plunge. So many times have I admired the low numbers in similar situations, only to find I only knew much less than half of the real story.
i get in now Skull drops over done
I was considering dipping my toe in this one but think its best left for a while???
sorry to hear that johnny
At end of June their interim statement said they had 8.6m of cash available including undrawn lending. Since then, I think and please correct me, they've had to pay out an interim dividend of 2.45p that would have required c1.1m. Looking at their 2015 accounts they had some contingency possibly due to Colemans at end of June 2017 of 1.75m cash. I'll assume worst case they've had to pay that out, as well as the 1.5m to Simpson Millar announced separately. Their interim statement mentioned 2.5m of DMP wind down costs. So before allowing for whatever they've generated from operations in the second half I get to a hopefully worst case of 1.65m of cash headroom left under their now being renegotiated bank arrangements. 2016 half year had 4.5 months of Colemans in it plus 6 months of everything else. They said then they thought second half would be similar to 1st half and the profit warning said that up to end of October that remained true. 1st half their pre-intangibles write down profit was 4m. Can it really be much worse than 3m for H2? If we optimistically assume they can manage to avoid further downturn going forwards and the benefits of the DMP exit DO start to come through I don't think it's completely unreasonable to allow for it now being a £6m of profit per year business? I saw a reasonable sounding investor on youtube comparing them to Gateley (GTLY) albeit with the caveat that he suspected Gateley had a better revenue mix. Gateley are trading on a forecast P/E of 12. Is it unreasonable to assume a functioning Fairpoint should be on 10? 10*6 of profits less the debt of the full 25m facility still leaves a business worth 35m and not the sub 9m its at this morning. The poor performance in H2 will have given the banks some breached covenant rights and understandably they will be insisting on suspension of the dividend to better protect their exposure. So that's gone for a while. But with that a given and from the above fag packet analysis I don't see that a fresh raising at a wildly dilutive price is necessarily a foregone conclusion though. Of course I get that the management teams right now are viewed somewhere between crooks and clowns and people - me included - are apoplectic at the gone for some time dividend. There is scarcely a stock on any of the markets which has lower sentiment than FRP today I guess. I've lost a a great deal overall on this dog and did try to huffily and unsuccessfully get out what I have left at 20p this morning before the slide down now to sub 19. That prompted me to put my rose tinted specs on and come up with the perhaps Utopian nonsense above. I'm staying put for now; having lost so much there's a big element of I've not much left to lose!
Difficult to call this a buy until their finances are sorted, which I guess will mean a right issue or similar at who knows what price. A big drop here , but that doesn't make it cheap - although I have them on my own watch-list as a vaguely possible gamble, but not just yet. It's early days, not early doors at FRP - after Friday's RHS and their grenade will still have to be digested by many, is my feeling.
Completely.........they've known there was problems for ages and haven't said Anything then issue a profit warning in the afternoon around 3pm !!!!!!! Waste of space
i see there are a few buys today, is there really a chance this could bounce back up 10 or 20% on monday
From 193p in November 2105, this has been in a consistent downtrend leading upto today's 60% annihilation. The bad news keeps coming, which includes today's trading update with a significant performance/profit warning. 100% #bearish
seems to have come back again now. this is win win for government and motorists; bad for FRP and swingers of the lead. but to what extent is this already priced in?