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Well I think the market has every reason to like that. With any luck we will look back at the last few months as a massive buying opportunity!
Still on the up. And still some way to go. My best performing share - though at the moment that's not too hard!
Says it all really, market makes an almost apologetic partial recovery in response to the panic driven sell off pre results. Up 50p from the 116p low on the 16th. Be interesting to see how much steam is in this rally.
Thankyou Richard, all investors should see some steady progress now the worst has passed hopefully
Have a good day
L
While disappointed by the performances of the CFO and CEO during this period, I'm glad there doesn't appear to be any further big surprises ahead (famous last words). Once this company has a couple of decent replacements, it should progress on a sound footing. Jim Slater who passed away some years back always thought Restore had huge potential. It lost focus recently but has sufficient repeat business to see this through. It was sensible to cut the dividend to help reduce debt. I'm tempted to top up at this level. I'll wait my usual three days to monitor the reaction in the market.
Well done Laura, up 15% by the end of the day on that buy! I would expect some sideways movement in the sp until a new ceo is announced now.
My purchase were £1.22
Results as expected. No nasties. This is a solid company which has been poorly served by the departing CEO/CFO. Right down of goodwill irrelevant as company has sufficient retained earnings for dividend. Need a strong new CEO to deliver value. Alternatively a takeover may be on the cards. Marlowe would love to take this for 300p per share. Either way I expect 200p per share by Christmas.
No. I tried and tried but without success. Was slighlty peeved when I saw some people had managed it (or, at least, close to it)...
Did anyone manage to nab any at 116p this morning? Wishing I’d bought some then!
I have purchased some for my SIPP
Having read again the dividend cut was only slight so as Richard said more than priced In for the drop from £2.00 to £1.20
Lots of buys so far… that drop to 116p at 8am was brief. See how it ends the day. I do think everything is priced in now and the market should move it back up in view of the expected revenue by year end. A divi cut has been more than priced in.
Worst priced in now ?
Yes they did. It will be interesting to see who buys today. Watch for RNSs over the next week updating us on who has topped up.
Richard
Also Investec have been buying so they see value?
Hmm, difficult to know what the market will make of that. It’s not great but the market seems to have over anticipated that anyway. Company still making cash, it’s only a non-cash impairment so they were still able to pay debt. Have to wait for 8am for the usual irrational response to the RNS!
Cash write down of nearly £25mln
Dividend cut
Positives
Cash generative and debt cut
Interim CEO
Tomorrow wil reveal all
Well it’s certainly looking like an interesting play from here. Like I said previously, it is even more relevant now for the company to reduce debt, with the market cap not too far north of net debt. A divi removal must be on the agenda. Albeit they did state net debt and cash flow were broadly stable in the July RNS.
However, shareholders must surely be pressing the management (or future CEO) to realise value via a break up? I’m sure this will feature at some point in the near future.
Am seriously tempted to take a position this week as anything other than poor results will hopefully see an uptick. A new CEO on Wednesday would surely kitchen sink as much as poss to be subsequently viewed as the white knight?
Relatively small trades visible on the free version I have for trades completed today. Sentiment has really soured. Given what they have already reported in the trading update things don’t seem that bad (famous last words I know!) and I think the recent drop can be attributed to negative sentiment which is all it can take on AIM along with only a small number of sales in the free float.
The only silver lining is that Mrs Bligh bought 20k worth of shares back in March when they were trading at 314p. (He bought 10k on the same day)
I hope she’s given her husband some right ear ache since that little purchase!
A lot of people bailing out today, presumably on anticipation of bad figures on Wednesday.
I really hope that there hasn't been a 'leak' resulting in this drop. I don't trust the governance of AIM shares that much anymore having already been stung in the past.
I'm tempted to 'average down' at this price but won't as I suspect they have further to fall. Why then hold on to the shares I hear you say? Good question! Answer: I hate selling at an all time recent low, and will hold in the hope of a gradual recovery. If there's a dividend cut, it could be a long old haul!
Thanks for spotting that
I think after the 16th we will ne able able make an investment decision , if certainly feels that there can't be much more bad news that isn't priced in
Just had another read through the last update on 4th July and this bit could be spooking the market:
“ As a result of the weaker outlook for the business, an assessment of potential non-cash impairment on intangible assets will be performed as part of the H1 close.”
It’s tucked away near the end but these kind of write-downs, while not taking ‘real money’ out of the business, still cause issues. And the size of the write down is probably dragging the sp down. That, and the delayed results. Ah well, we will know more by Wednesday.
Thanks so much
Taking all the bad news and headwind into account to this seems very good value going forward (pending results) and a good income (should it be maintained)
Thanks
L
Morning Laura 2022 & others,
Unfortunately the shares are being sold off in fear over the upcoming results on Wednesday this week. The CEO leaving and the uncertainty there is causing a problem. The recent trading update contained some negatives and left the door open for further bad news which may be clarified on Weds. They also pushed back the date for the results by a month which never goes down well. At best I think Weds will be a ‘marking-time’ update unless they have made some progress on appointing a new CEO. With rather thin profit margins there is also the fear that the dividend is in danger and a new CEO may cut this as part of any plan they choose to put in place but this is guess work on my part. However the Mcap is now at approx 190M and revenue should be north of 270M for the year so the company is sound enough, the recent sell off is prompted by fear and it is now oversold in my opinion. There is a lot of recurring revenue here and several solid long term contracts etc. Happy to discuss further if you wish.
You can probably tell I’m trying to reassure myself here as much as I am you!