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Yes Billi was on the cheap side, they almost implied it was opportunistic. So if I read correctly they have reduced guidance to above £21m NPAT, looks like this is down on consensus from £24m. So 12% reduction but debt is much higher, surely a timing element of that. Its a long announcement, does it really need to be so long? Haven't had time to read and digest but 36% down seems extreme. Maybe some looking forward to a capital raising to bring down debt?
Questions need to be asked how they put the AMG statement out in July painting a rosy picture, 2 months later…. Well what can I say.
I think billi was bought at very attractive terms
well what a **** show. let’s see what they have to say this afternoon on the zoom call. i may double my holding as i was nearly on a free ride. i prefer that they had cancelled the div and paid down debt. .09p div ffs
Poor results - sold up for a 35% loss. The debt is simply unacceptable and I think puts into question the quality of management. Good luck all
Not sure, may drop but the market may have expected it. It was 100+ now 90, so 70’s and recover. Who knows we this market. Good results cause drops as well sometimes!
How big will the price drop be? 70s?
Not very good at all. Billi was a big mistake imo. But hindsight is always 100% correct! It’s going to take another few years to recover.
Just added a few, to trade. I’ve got a core which is nearly on a free ride now. Even if it goes down happy to hold for the medium term.
Hopefully some positive news tomorrow. Hopefully a 2p dividend declared (or more) and debt paid down. Oh well not long to wait.
On Thursday 21 September update on the medium-term strategy, level of net debt and progressive dividend policy. Hopefully good report and dividend.
Forgot to include the order details!
21-Aug-23 14:52:22 95.00 364,658 Buy* 94.10 94.60 346.43k O
Looks like they need to fill a order(s)
Weird, you would have expected it on x-div, personally I think it’s just the wider market (bad china figures today). Oh well picked so more up today sadly not at today low’s. But will add if if drops further.
Why the big drop today???
The AGM update was encouraging and indicated that ‘green shoots’ continued to emerge, with momentum building during Q2 as the frequency of orders increased. Volumes, however, have yet to pick up, suggesting OEM customers are maintaining inventories and conserving cash. Significantly, the Group is seasonally H2 weighted with September to November critical months ahead of Christmas and Chinese New Year. Strix continues to trade in-line with market consensus (PAT of £25.8m) and as such, we see no reason to adjust estimates. The integration of the Q4 acquisition of Billi is on track, with a degree of excitement of the launch of the new one-tap system in Australia. We are particularly encouraged by the new product pipeline and the opportunity to gain a firmer foothold in North America.
We visited the facilities on the Isle of Man during an Investor Day ahead of the Group’s AGM. Meetings included an introduction to the Company, greater detail on the Chinese factory opened in Q3 2021, presentation of forthcoming product launches, and a factory & tool room tour (see main body of note for more details).
We think the shares have been largely overlooked, sitting on a single digit FY23 PER and at a marked discount to its peers. Our fair value / share of 216p, based on several valuation models, is more than double the current share price.
Full report here: https://www.equitydevelopment.co.uk/research/encouraging-agm-update-investor-day-insights
Nice AGM statement today - This is a long term hold for me
My mistake, I had on my calendar HY (Doh). Not seeing a RNS, just checked Strix FC, they have 30th June Half Year, not results (that’s Sept) just telling people it’s half year! Anyway going on last year TU next month.
If anyone is interested in shares that fall back so that they may be picked up at a lower price, try Kromek to name but one. I generally find that shares that fall back such that they may be picked up "cheaply" have a tendency to keep doing so: Strix has already fallen back far too far for my liking. Personally, I would much rather hold shares that kept rising. In that case I would know that I would make a profit with what I had, and I would be able to make a profit on any more that I might purchase at a future date.
I was hoping for a fall back to near 90 so I could pick up some more. My only concern here is the interest in the debt along with the level of debt itself otherwise I like all what they talk about re growth.
Not often you hold share where on ex-div date the share price goes up on open. Very sticky hands. Let’s hope you a good update tomorrow.
Ex-div tomorrow and hopefully some good well timed HY results the day after.
I was happy that this dropped back under 100p, as it gave me an opportunity to add more. Yes the recovery will be slow but happy to take the divs and look forward to some capital gains.
I'm not convinced that's the immediate concern of markets but it may be contributing to sentiment for sure. Thessues relating to Covid handling over the past 3 years and even recent events with the sudden change in policy breeds uncertainty. Risk of lockdowns, restrictions or adverse health implications to factory workers, no matter how low, is still an ongoing concern for markets, given the lack of transparency. The management of the company may also leave something to be desired as they slashed the dividend to bring down debt fasters.
https://time.com/6283257/china-xbb-covid-outbreak/
I carnt believe this share..it has got a product that is pretty much unique, i bought in around the £1.00 market and it just plods along.
Is it all to do with China/Taiwan ?