Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Despite the warning about this year’s earnings, the company emphasised it had a strong order book and much of the slowdown was because of delays, rather than the market drying up. Some of the deferments were caused by what GYG called “an extraordinary sequence of hurricanes”.
Remy Millott, chief executive, added: “Despite the first half of the year being difficult for the group and the industry as a whole, we remain confident that the superyacht refit market is returning to normal trading patterns.
Encouraging, and some decent buys coming in
Can't be that bad then, or what?
Wise words Swiss1!
Hindsight is a wonderful thing! All looked good 3 months ago, how quickly things have changed! I’m out as have learnt the hard way hanging onto shares for recovery can be slow and demoralising. I’ll look again when trading/contracts improve but until then there are always opportunities elsewhere. GL to all those prepared to wait.
Kicking myself for not selling yesterday (I was going to for other reasons - I didn't see this coming!)
Wouldn't trust this management as far as i could throw them!!
Very good point regarding IPO. I'm tempted to buy in here but would sit and wait till Friday afternoon or Monday morning to see if the SP drifts down further (which I suspect it could do). As the spread is ridiculous I would suggest to people to maybe have a buy order at a set price rather than quote and deal as you might get more luck at getting your price that way. GLA
barely any history to understand what the actual worth of the company is, surely? such a drop either means it was stupidly over-valued at the start or this is liable to massive swings... let's hope so... but feels like a proper gamble... butif i wanted diferent i guess i'd be in ftse.
gla...
surely that will be surpassed shortly..gla
I just tried 4k and was quoted 75. Weird, I've never had that before when buying
I tried 30k and they wanted 79
Can't get a quote for 10k or £300 or 2k but can for 5k. Strange
Spread shown is not actual..try dummy buys and you’ll. see spread is a lot smaller..
and i'm getting quotes over 73
Another Woodford bomb 9m shares down nearly 50%. IC update today says sell https://www.investorschronicle.co.uk/comment/2018/07/12/gyg-shares-hit-the-rocks/
New orders coming in and CEO confident “.."Despite the first half of the year being difficult for the Group and the industry as a whole, we remain confident that the superyacht refit market is returning to normal trading patterns. In accordance with our unchanged strategy since listing on AIM in July 2017, we have made significant progress in winning contracts in the New Build sector and this, combined with large Refit contracts in the pipeline for 2019, ensure that we are well placed to take advantage of the many opportunities that are being presented."
"..difficult for the Group and the industry as a whole..." ?? I don't believe this is an industry-wide problem. They told us that yachts need to be coated regardless, and they admit contracts go to competitors, so the market is there.
What I do believe is when they say their reliance on yacht owner relationship as their only market strategy has been a flop. Yacht owner relationship is a person-to-person thing which follows individuals wherever they choose to work and therefore a dangerous corporate strategy for any "world leading" yacht coating group.
Shockingly naive management.
On the way up benefiting from the IC paper version today. GLA
ex-div is 3rd May, pays out on 15th June 3.2p per share.
ST covers GYG as predicted in the IC with a Buy. ‘Trading on 10 times forward earnings, and offering a 5 per cent plus prospective dividend yield, I maintain my 170p target price. Buy’
Held off buying in until today to confirm all was well with the results, missed out on the 9% increase but happy to wait for further gains. Revenue up, debt down, cash in the bank and plenty of opportunity for growth. As u said Bazzaman Simon Thomson should give this a nudge in the right direction if he covers them again next week. 170p certainly possible over the next 12 months, slow and steady.
But Simon from ic said target price was 170 last time so getting it into 120 is not great
Has recovered a bit on the good results. I expect Simon from IC to report on these next week which should see a further climb back into the 120s IMHO. GLA
Looks good to me, especially the net debt reduction and the pipeline of agreed and of prospective business.