Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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I would assume Keith Lewis knows the overall situ and is selling cos further issues are in the pipeline.....
It appears from an RNS release it was Carillion related - but they have clarified they have about �500k dealings with them, and a maximum exposure of �100k with most of the rest insured against. Some spin has been about talking to other parties anyway as many of these roles can't simply be removed - so although some exposure and the uncertainty is bad, it looked like it's more a hiccup than too serious - hence the relative bounce back. The big IF it can cover the dividend and start to grow profits again it could be a bargain !?!
It appears from an RNS release it was Carillion related - but they have clarified they have about �500k dealings with them, and a maximum exposure of �100k with most of the rest insured against. Some spin has been about talking to other parties anyway as many of these roles can't simply be removed - so although some exposure and the uncertainty is bad, it looked like it's more a hiccup than too serious - hence the relative bounce back. The big IF it can cover the dividend and start to grow profits again it could be a bargain !?!
I wondered that. Perhaps it's the RNS (@ 11.59) regarding the share sale by COO Keith Lewis that's driving it ..... ?
Any ideas on what is driving this - no RNS or update, do they have a cosy relationship with supplying Carillion staff or something?!?
Despite management, stating profit is in-line with market expectation. Basic EPS of 23.4p is close to their 2011�s earnings trough of 20p. Those who use underlying EPS of 35.3p excludes amortisation and acquisition costs which are real costs. Overall, Gattaca divisions show some serious declines in Net Fee Income, with their biggest division (UK Engineering) falling by 6%. The acquisition of Resourcing Solutions Limited has saved Gattaca of an overall decline in NFI. You can blame management for their poor choice in acquiring Network International in 2015 for �58m, despite struggling to make a profit. We now know it didn�t help to boost profit at all. An interesting observation is to compare the UK unemployment rate to Gattaca EPS. Normally, Gattaca sees EPS rise when the UK unemployment was falling, this happened during 2011-15. This is normal because businesses are hiring more people to fill positions. Given that the UK unemployment is at 40-year lows and Gattaca has already fallen to the five-year low, does this mean Gattaca EPS will decline further if unemployment starts to rise? For full analysis on Gattaca, click here http://bit.ly/2zKockd If you enjoy this post, please subscribe to the blog.
stark contrast to elsewhere in sector
Today's trading statement confirms the bearish bias for Gattaca.
44p loss in 3 days or >10% Bearish as Brexit and economic chickens come home to roost.
here...excuses for weaker profits when peers are thriving (hvn, emr) & fx rate should be boosting
Hard to work out what's happening with GATC as the spread is about 10p. Maybe buyers and sellers are not coming close to agreeing on the right price?
£1.7m and £0.3m trade done today but not declared as buy or sell. Conversely 2 x £159k trades which were both buys. All done between 10:35am and 11:52am Anyone have any ideas?
GATC has been testing its 200 MA over the past few days. So it may pause here before the next leg up (or down).
I'm now willing to be bullish once again as GATC has recovered from it's profit warning low. The smart money must have bought on 13th April as the price has rallied since to 315p. It looks like a good recovery play now.
If you would like to hear management present the interim results for Gattaca we will be hosting a webinar on Friday 21st of April at 1.15pm. The registration link is: https://attendee.gotowebinar.com/register/7808442790992508675 The webinar will be a 30 minute presentation followed by q&a. If you have any questions you would like asked please send them to ben.ferguson@equitydevelopment.co.uk
Today's profit warning means my bullish sentiment has drained away. #sell
Thanks AL, hopeful of some upward momentum soon.
The market is so thin at the moment. There's nothing doing to make the price move.
Can anyone explain as to why with seemingly so many buys day after day to the number of sells, the share price remains the same? I understand the trades are just a guide but I am not too familiar with this type of share where the price rarely moves! I'd be grateful if anyone can advise?!
Gattaca, the specialist engineering and technology recruitment agency, has acquired a majority stake in Resourcing Solutions Limited, a niche engineering recruitment business. RSL, which was founded in 1996, operates from offices in Reading, Uxbridge and Derby, providing specialist contract and permanent candidates to companies operating in the rail, power and built environment sectors. RSL is expected to generate NFI of £7.5m and underlying EBITA of £2.0m in the 12 months to 31 January 2017. Over the same period approximately 88% of RSL's net fee income ("NFI") was generated from contract placements, with the balance from permanent recruitment fees. The acquisition is expected to be immediately earnings enhancing for Gattaca. Under the terms of the acquisition, Gattaca's wholly-owned subsidiary, Matchtech Group (Holdings) Limited, will initially acquire 70% of RSL's issued share capital for £6.9m from founder and chief executive Richard Lawrance and Alysoun Stewart, an investor in RSL. The remaining 30% is subject to a put and call options exercisable from 12 months post-completion for 5.0x trailing EBITA at that time. The maximum total consideration payable is £15.0m. All consideration is payable in cash and will be funded from the Group's existing resources. The group will take on RSL's existing working capital finance facilities, expected to be approximately £4.0m at 31 January 2017. Lawrance will continue as CEO of RSL following the acquisition and the existing management of RSL will also remain in place. Gattaca also announced that it had delivered solid results in the six months to the end of January during a period of "some instability in the UK, following the EU referendum on 23 June". The group said it continued to position itself for maximising growth opportunities both in the UK and internationally. It added: "Accordingly, whilst the Board continues to monitor uncertainty in the wider economy, we continue to invest selectively in strengthening the business to support its medium and longer term performance."
Appears to be a decent volume of buys to sells over the last few days but still no real gain upwards!
Just realised my mentioning of the site run by TW has been blanked out by LSE. For those of you who don't know, it begins in Share and ends in prophets.
If you look at *************, Steve Moore has just published an article on Gattaca and its potential: "Gattaca – trading update & acquisition, good value?" In my view the low of 275p today shows good support as the close will be about 295p. However, the recent high of 318p needs to be broken for it to resume the breakout from 16th January a few weeks ago.
From Staffline RNS 25/01/2017 Financial highlights: Revenue up 26% to £882.4m Group gross profit up 24% to £124.9m Reported profit before tax up to 244% to £18.9m Net debt significantly reduced from £63.1m to £36.7m Final dividend of 15.3 pence; total dividend for the year of 25.8p, an increase of 29% Strong Operational highlights too. Huge potential for Gattaca results IMO.
rel to cashflow, earnings and balance sheet..perhaps cos trend self reinforcing (c AL75 logic) ..also sector, wider market comp (market going nuts and recruitment less bad than feared)