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Quick spruce up before the video call with Katie and....damn, cut myself with the razor....a bit of toilet paper should hide it. Good plug for Nuthing at least.
https://www.youtube.com/watch?v=ueAX3pm4r9A
New update.
Its in the Finn Cap broker note.
I am mirroring last year's numbers as a result and hence why I say between 3.5m and 4.0m for this year. In the end (to a degree the actual final revenue number is less important to me - as long as its in that range). What is important is have they got costs under control and the pricing model correct which should drive margins and 'true' profitability. Not what the last lot were doing which was driving revenue even though it was loss-making. If this new lot can prove they've truned that ship around then its game-on for IDP.
ProLong was always a massive drag on the accounts. The 1.1m was largely written off anyway and I think all the 'extra' numbers that the lost lot had included are written down as announced in RNS from the summer i believe. Just the year end accounts havent been published yet.
Let's see what the numbers say, but if indicators are anything to go by then the above 5 points I made are strong indicators in my humble opinion. I for one will be disappointed if the numbers dont reflect an improvement in costs and margins - it may not be fully profitable but I would expect close to breakeven as a minimum, thus giving a good chance of profitability for H2 and for the year overall (as we all know IDP is H1 cost weighted and H2 rev weighted).
what is the revenue target for IDP - i can't find one and FinnCap has had a 90p target for over a year (previously 180p)?
Last year in mid Sept we were told revenues were also on target but then at H1 it had dropped over 20% from previous year.
Prolong was purchased for £1m and as of last year's accounts had £90k in stock so selling at a c50% loss is not a massive positive IMHO.
Mark Ward bought over 2m shares in the 70p range so i'm reserving judgement (also has a big holding in RBG which is not performing well).
Let's see how H1 looks and the cash position - too early to see if things are improving, especially as YE 2021 numbers have not been published yet
The positive signals are there for all to see. Today's RNS was another indicator, but to mention a few:
1) JV investment to accelerate growth in ProLong (+£275k for IDP)
2) Amazon DTC shop established - this retains more margin for IDP, and less cost
3) Link-up with Liberty from Love Island, providing huge national coverage
4) Revs is on target (per RNS from 22nd Oct)
5) Mark Ward spent £90k buying 223,133 at 40.5p on 14th Sept (see RNS from 16th Sept)
Ask yourself does the above suggest a company that is not turning things around???