Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
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I honestly have no idea why you are holding the shares. Either you are an idiot, and don't believe what you're saying. Or you simply want to lose money (in your view).
Personally, I think they will do well.
I think they'll make a profit this year.
Not sure of your agenda, but good luck indeed!
HH - I'm holding until full-year results are announced. I'll make my decision then as if they aren't good, I'll be out completely. There's no two-ways about it LUCE is an outright punt as things stand. It's like going to a casino as fundamentals are so poor. Cash-flow will take a hit sooner or later and there will be a share issue IMO to raise finance given current liability value vs cash in bank. I can't believe how clueless some people are acting on this board. It will take several years and a lot of luck if this clowns in charge to turn around LUCE. I'm still a holder and I could be wrong but don't be surprised if we see this tank further next year.
Good luck all.
Chris you do realise the CEO has messed up on numerous occasions. I'm still invested in LUCE but was very suprised with the losses incurred in H1. You do realise there will be no divi this year and next year due to build up of debt. We want someone who has a clear strategy for growth and sorting out this sh*tshow. As I keep saying the LED market has excellent growth opportunities but LUCE has to sort out it's margins and calculate them properly! I may be a nutter but I have my hard earned cash in this company and the CEO controls the strings.
Poor Soulsister! And the nutter who wanted the CEO gone.
Anyone know?
Do director deals have to be announced as they happen?
Whoever it is now owns 5% of the company or so!
Huge buys indeed. Someone must see value like we can!
Someone seems to have bought 4.7 million so far today
Someone just bought 150k... interesting movements.
It doesn't - so if that has gone well it should look better (they say it has)
Reading the presentation closely is interesting. Especially when you work out the positive effect of USD Rmb and copper on H2. Looks like they should get a GP close to where it was before (within 1.5%)
I agree with you.
Ultimately though, I expect the year-end results to be in a "meh" position (as H1 was poor) but if they manage to break-even and show an adjusted operating profit (rather than loss) that would be handy.
Given Copper prices (which seems to be part of the blame) have fallen 19% since June, I do expect the 2nd half results to be promising.
How much do you think is knocked off the price due to the past credibility issues? I think it's a hell of a lot. So praying the new CFO knows how to account for things lol
I already bought a small holding in LUCE at 61p and hung onto them as the price slid below 40p. I had been debating whether to buy more. The CEO and Epic investments It bought a load at 40p in August and the price climbed to high 40s. They have recently slipped back to 44p and IMO probably (hopefully) won't go much lower. I've just doubled my holding at 44.7p as I suspect the CEO and Epic would buy more if the shares dipped to nearer 40p again causing them to rebound.
Latest results are lacklustre but not as bad as current price suggests. I'd feel more confident if the new CFO would buy a load more shares so there are no more accounting skeletons in the closet!
Yep. Their HY report said that was the case for H2. H1 had unfavourable movements alongside the one off costs.
Thanks also i guess the price of copper
My understanding was that copper and RMB were moving favourably
Could someone explain to me the exchange rate issues for this company
Do we want a strong pound or a strong dollar?
Hasnt the pound strengthened against the remimbi recently ?
HH, I did say that but look at the hit on cashflow and increasing debt. I can see new shares having to be issued very soon. In a matter if a week or so my day opinion has changed due to an incompetent CEO. Company needs new direction and strategy. How can they look for acquisitions (per their strategy) when they are a loss making business and have no cash.
It sounds like you are trying to talk sense into a fool. As you say, a HUGE part of their worth is in the shares.
The price (and shareholders returns) were hit hard last Dec. All they really need now is to stabilise and grow, without accounting issues.
My expectation:
- Acquisition of Kingfisher and the accounting issues switched focus for maybe 6 months away from the core (sales, margins, growth).
- They will have spent a part of this FY integrating them, and getting hit with a lot of one off costs (hence the 4.4m diff in Adjust Op Profit vs Op Profit)
- They should therefore grow.
You buy shares for their future value, not present value.
I am wondering why the market has overreacted to the loss when it was clear to anyone with a financial mind that a loss was coming from the 30 Jul announcement.
The problem we have now Chris is that LUCE is an outright punt now. Credibility of the company is in complete shambles. Even if H2 goes well, something else will crop up knowing this lunatic in charge. It's imperative to look at the management when investing in a company and I don't trust the current CEO, he is clueless. Why take a punt on Luce when there are other companies generating profits and healthy EPS growth is my view.
We won't see a nice dividend for at least 3-4 years now. I was really bullish on LUCE but today really annoyed me because the demand is clearly there but the CEO doesn't know what he's doing. Basic things such as cost control, looking at margins, correct product mix, opportunity cost etc are just ignored until sh*t hits the fan. Then he'll come out and say we've implemented new processes. Everything is reactive and this is seriously eating into shareholder returns.
Bearing in mind adjusted operating profits add back expenditure... When adjusted operating profit is expected to be Nil, what did you think the operating result was going to be?
It seems like they've had a lot of one off items go through. My guess, and it is only a guess is this half year has been used to sort things out.
I expect h2 will be a much better set of financials.
Chris, there was no mention of a £4m loss! He needs to go. First the inventory valuations and now margins have been battered. The potential in Luce is huge however, not with this clown in charge.
Did you not read the trading statement on 30 July? These results are almost exactly in line with what is stated there.
Think I'll not buy back in then