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Hey Guys, I totally got carried away with the rise and thought this share was going to the moon, Bought at 20p ouch !! anyone think i'll ever get my money back ?
This company has to be worth more than what the share price is currently.
Im surprised that no one has come in with an offer of 10 p,
Hopefully good news soon .
Indeed! Pity about todays sellers messing up yesterday’s rise, but hey ho.
Refreshing to hear that all this recent buying isn’t just you averaging down- again- Ctw 😉
An £18k buy. Decent for this share. Someone believes.
And another little top up for me at 4.04p.
I am not too bothered by this fund raise, and as you say, having a supportive investor like Sea Pearl is a positive (quite a big one for me).
Some delays are down to slow regulatory approvals, which are outside the company’s control.
For me, there are too many near term improvements in the pipeline (as per the interims) to ignore, and I do feel that break even/profitability are not far off.
The funding may simply be needed to deliver on pipeline projects.
Accordingly, I have just topped up.
Bloody +ell on that RNS..
More funding required because - extremely likely - this business continues to not remotely progress as quickly as management expects/ed it too...
A sad state of affairs.... and the pretty recent board room in fighting likely to do with the credibility of the existing CEO and CFO in the eyes of the wider board I expect... And such concerns appear increasingly appropriate I'm more and more feeling !!
An awful long way back for me now here.... and one of my bigger bets this one is too.. ouch
Towards something positive in this post: thankful that at least there is this source of funding, that continues to believe in the company
Plenty of 'snaps' on what you say below Ctw.. but not on me topping up here around now
(btw not to mind just 2023 .. the AIM all share Index is down by 45% plus from approx 2 years plus ago to today.. that's well beyond 'character building' at this stage !)
I feel your pain and am 71% down here myself. However, personally, I blame the AIM market currently more than the company. I am seeing the same thing across AIM and 2023 has been dire. Most of my portfolio has been decimated. I have another tech stock down exactly the same amount today on a similarly small number of sells. People are understandably giving up, but I am just going to stick it out and wait for the recovery. I would actually top up here, if II would only let me add more cash to my account, which bizarrely I can’t do at the moment (waiting for a response to my email on that).
OMG.. having passed through bad a long time back, very bad a fair while back.. this s/p decline is progressing to awful now...
(With a few k gbp only left as my mark to market value here now, I'm close to giving up caring anymore.. and no more averaging down for me either .. unless a very serious to bottom line RNS drops.. this doggy shows that patience is certainly far from regularly rewarded in this AIM game, alas ...eg I've shown huge patience here .. and I have an every growing hole in my portfolio as thanks for that.... such a long way back to break even even for me now.. a sad state of affairs indeed)
Plenty promised but little delivered unfortunately…massively down on this. Another write-off !
Yes, they simply don’t deliver. The d2p for bread is particularly irritating as they have had a three year exclusive contract with Bimbo for over a year now and in December 2022 were predicting £2.5m revenue from this product by now - nearly all would have been from Bimbo. I would guess it is less than £100K. However, it might be that they can make progress, as it seems the existing deployment in specialised brands has worked. It seems Bimbo is taking things cautiously:
“Sales of d2p AM for bread applications are growing slowly, with the technology currently being used in specialised brands in Mexico and Peru. We expect these markets to steadily expand in the coming months into more mainstream brands…”
Brighter spots were that the anti insect product with Rivulis held up being roughly the same as H2 2022 and the UAE factory partnership is operating to expectations.
One aspect is that they reduced admin costs by 11% in H1 but are aiming for 25% for the year. That implies a near 40% drop in H2. If that 40% drop is the new base level for 2024 then admin costs should come in at around £3m. Their admin costs have always been too high - Wells Plastics, admittedly more UK centric, has admin costs of £2.2m on around £20m sales.
If they get admin costs down to £3m, they need sales of around £8.0m to breakeven.
A brutal mongrel of a share to be involved with, alas... progress has be astoundingly slow....and the amount of jam tomorrow offered by management here a farce..... but hope springs eternal ...This time next year Rodney !
Certainly the EU ban has an impact but I think it is more general than that. This space in Western countries is dominated by activists that are very anti oil (in large part because they are virulently anti capitalist). So their focus has been on trying to ban oil based plastic or move to solutions such as compostable plastics which do not solve the problem. The activists simply do not want to support a product that in any way perpetuates the oil industry and so refuse to look at matters rationally. The Ellen MacArthur Foundation is one such opponent and they work very closely with WRAP, which is an NGO largely funded by the UK government and to which the government has effectively outsourced its activities on dealing with plastic. WRAP seems to be largely focused on supermarkets reducing plastic use and recycling rather than “fugitive” plastic ie litter.
There is a huge amount of disinformation and lack of understanding as is the case for much of this environmental stuff. It is possible that once we get to a point when supermarkets cannot reduce their plastic use any further and plastic is recycled more than, say, card and paper attention may turn finally to the fact that the real problem is what to do with plastic that escapes collection systems. There is a lot of chemical recycling capacity likely to come through in the next three years or so which is aimed at recycling single use plastic back into its original oil. This will mean that plastic packaging recycling, currently about 50%, should start to move up towards the 70%+ of paper/card.
In summary we need to get to a point where the activists cannot say that (a) we should (and can) get rid of plastic (ie we need an admission by, particularly, supermarkets that they have done all they can to reduce plastic and that for modern life plastic is here to stay); and (b) plastic is bad because it is non-recyclable.
Michael,Stephen, SYM Deputy Chairman, writes about this in Bioplastic News. He often repeats the same theme, which must be frustrating for him.
https://bioplasticsnews.com/author/mls7766/
I suspect we are still following the EU regulations in this respect.
Does anyone know why particularly the d2w product but also the wider product range is not getting traction in the UK - as Symphony's home country? Not least the reasonably good awareness of the issues with plastic waste, bread increasingly being offered in paper bags and so on.
The market is underwhelmed at this RNS, and I agree with views on Laurier. SYM was 36p in the not too distant past.
Laurier needs to go .
Total tripe they keep telling us
The wait goes on! I’m still encouraged and believe that sales will start to grow quickly with new opportunities landing, but the timing is very uncertain. Tone of language keeps changing - now confident in the short to medium term. I’d like to know what they mean by medium term. Anyhow, I’ve waited this long already and can do another 2 years if that’s what needed. Don’t want to miss it when the sales do begin to scale up.
It’s a reasonable question Hounddog10 and maybe worth asking Laurier directly. But whatever the challenges are in fitting additional equipment to dose different batches correctly, the manufacturers are now required by law to do it. Suspect, that it is not that difficult nor capex intensive (as seem to remember SYM commenting on this a while back).
Definitely share your frustrations on the evaporating sales pipeline. 3 months left for ML to prove us wrong !
I rather fear this is a “dead cat on the table “ announcement ahead of interim results where the outlook is shown not to be good. SYM have form on this. We need a proper update on the 100 (revised to 60) trials which potentially represent $40m recurring revenue i.e. the very positive updates that Laurier has been promising for 2023. There is less and less of 2023 left.
Also I wonder how it works for the 500 manufacturers. Presumably SYM supplies from its UAE factory to its own distributor. How do the other manufactures convert to oxo bio-degradable? It is not just a matter of blindly tipping the additive, in the manufacturing process, even if they can get hold of it. It has to be quite carefully calibrated for the conditions and end product.
Yes, Governments are catching on slowly, albeit so far only in far flung parts of the World.
Good to see this. Changes in regs in ME have been highlighted as significant near term driver of sales and profits growth. It’s small obviously and won’t affect the overall profit number that much - good to get guidance from the company at the results announcement- but maybe an indicator of change being imminent in more significant jurisdictions like Saudi.
Slight topping up seems prudent as I can’t help but feel that the very subtle shift in language used about moving back into profit between the agm statement and the trading update is typical of SYM in that expectations are drifting outwards.
Still believe The medium term outlook is good maybe even very good but just need some confidence building sales and profit growth traction. Converting the big orders always seems to elude them. All eyes peels for a humdinger of an outlook statement this time around.