The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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plenty of big buys...ho hum..perhaps no retrace after all ...£1+(+) as t/o imv: market offering huge discount for weak management of substantial assets
no sign that current management can turn this around imv
Nice one spotting that bounce! With results due in 10 days its time to make up your mind, whether to punt in or out. The market is clearly expecting depressed results with the company valuation having fallen from roughly £18m pre-HY results down to £10.5m today (even lower earlier this year). You have to ask yourself is there going to be any forward looking news that will strengthen the company's future appeal. Given the collapse in shareholder value following previous statements I see no reason why people would choose to pile in on the next set of results. Net debt is still £6.9m and whilst profits are improving and likely to see further gains now the GBP:USD exchange has moved further to benefit PTD, the global economy is weakening every day. Revenues were trending lower. If you look at the balance sheet at the HY it all looks rosy thanks to the placing which raised £5.3m They used £1.7m of this to fund the purchase of the freehold at Yeovil and took out a loan of £2.1m So where did the remaining £3.6m funds of the placing go? Straight into the inventories it looks like. Whilst the company have next to no cash on the balance sheet they do have additional loan facilities to draw down on. Ofcourse this is all pointless if the business is not increasing sales. They have 'value' held up in inventories that can't be shifted and could well be written down in the future such is the nature of this type of business. "Looking ahead, the indications are that the world market for finished leather products will be suppressed in the short term, impacted by slower growth in emerging markets notably China and Russia and the risk of wider economic uncertainty causing further financial market volatility..." "The current order book is below our expectations and reflects the lower level of demand that has become evident during July and August. This trend was confirmed at the major international trade fairs attended recently, where it was clear that activity levels in the leather industry are currently depressed and likely to remain so in the medium term." One to avoid until further guidance confirms otherwise IMO
a retrace??
you can keep it up here LOL .......
a buyer lol??
45p dump and 60p jmb are behind us
45p dump and 60p jmb are behind us
cheap as chips on asset valuation...a net net..dyor, ofc
nicely...v cheap on balance sheet valuation...and ripe for t/o
so hesitantly bought another 1.5k
new management key..for sure ..may well test 45p (cf recent whopping sell) before anything positive happens here
Just caught up on the recent news and SP fall. Clear that both the existing leadership continues to falter. Seems as though an injection of new blood at the top needed, with international experience rather than staff that have worked there for an eternity. Even if the MD went, his heir's apparent would still be of the same mindset. Await the financials in March, although will the strong $ blur the true figures ?
the 45p was inspired guess..is that the last whopper??
hold 6k @c75p...add c50p unless rns +/- ...the inventory levels are shockingly high..management manage..101 stuff
d*mn
burn...hat's quite a smash up ...and with markets toppy, a delayed sale likely in works..where's jmb here?? 45p ish perhaps??
now we see...stalemate cont..but with touch of downwards bias
that hardly clarifies..yawn
resilience
so why is sp not tanking??
sold and re bought some , looking for under 9p if poss. still hold 50k shares.
but only on 13k free carry..and u?
thks jolly. on watch list then till restructuring RNS perhaps. did u stay in the African farmer .
probably but too significant ...they need better inventory management...may need to scale back working, get their folk on to more flexible working contracts, improve distribution (esp their retail...which looks promising)...deconstruct their business...and identify clear value added, branding, marketing.. ...I sense plenty of deadwood and scope for cost cutting plus margin expansion, and so management looks totally underwhelming ...if I still ran pe i would be keen to buy this at say £1 and 2 or 3x money in short order...or buy a significant stake and change/control new management... or if I had the knowhow to gain effective control while still listed (like JM Hambros??)