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Shareaction, that is a quite deliberate distortion on your part. Conflating bank borrowings with liquidity is defamatory. In fact, the company has huge headroom within it's banking facility, with no pressure on short term finances. All companies are having to handle skills shortages, training new staff is the only way to compete at times. there was no mass sell off, most of the trades were tiny. the tactics of shorters are what they are, and that includes telling untruths.
I cannot see there will be any further update apart from this:
"The Group expects to announce its final results on 29 March 2022"
Yesterday's so-called "Trading" Update said NOTHING apart from their liquidity being very poor (year end net bank debt being £10.2m). No figures whatsoever. Why is basic information so difficult?
The development of its people also continues to be of key strategic importance to the Group and in 2022 MISSION will invest at record levels in recruiting and retaining the best talent. Whilst the Group recognises this will have some short-term impact on its cost base, it will ultimately underpin its ability to deliver in future years.
BUY BUYER AT THIS LEVEL - market being market, volatility is part of the game!
The update is all positive as far as I can see. So why this response?
Bank debt appears to be stuck at an irritating level. Other than that, performance is looking really good.
I'd love to see the CEO talking up his company a fair bit more. After all, this is their speciality.
The unknown is in what the new chiefs are planning. New heads at companies normally means a revised plan, very few settle for doing more of the same. Could mean more acquisitions, increasing the debt ratio possibly. Whatever it is, we won't know until it's happened, but hope for the same level of responsible ambition as the outgoing chairman and CFO gave us.
Mr Market seems relatively underwhelmed so far, but Mission has recovered, at least, to it's Pre-COVID trading, so I'd expect that to be reflected in the share price "at some time".
I still think we're underrated and can easily justify a sp of 110p plus, but what I think is neither here nor there, so will happily pocket the divi and hope the market eventually agrees with me.
BB
Very well managed through the difficult times, hopefully no further disruptions to business during the second half. We need to see the new board in action, where are they taking the group in the post David and Peter era?
I'd hope Mr Market sees a well run, financially stable business with a lot of growth potential.
You can never know what Mr Market will think these days but looks like good news to me in the RNS.
The lighter the better ;)
Late in the day but it's about time I sank my teeth into this stock/subject.
The forum seems very light in numbers though.
Also good to see Simon Thompson/Investors Chronicle recommend buy with decent upside to their 110p target price!
Update being well received by the looks of it. The two departing main men are also major shareholders, hopefully they'll remain that way in the foreseeable. Given the size and power of this group, and the extremely low gearing, the current price significantly undervalues it IMHO
Having sold earlier this year admittedly a few pence too early I was interested to see today’s results and the markets reaction. Whilst the company puts a good spin on achieving a full year profit and reduction in net debt the outlook for the current year is not so clear cut. The current share price seems to reflect a return to 2019 profitability but I am not so sure. The comment, Trading in the first quarter of FY21 is on track with Group's expectations does not tell much about expected profitability for 2021. Whilst headline EPS OF 1p reported EPS after acquisition and exceptional costs resulted in a loss of 2.3p. One to keep an eye on for me at the moment.
Sorry to see the CFO leave his position. He has done an outstanding job over the 10 years I've been involved in this company's shares. Risk was quite high at the time of the refinancing, in comparison to today's strong financial position , with debt almost vanished.
Big thanks, and all best wishes to Peter, and the other departing director
That would be a nice range for now I agree. Got a few more in the dip, for the divi alone they were a no brainer. It's an industry where those that don't expand get swallowed by bigger outfits, so it'll be interesting to see what strategy prevails in the next couple of years.
Results out next week, which we pretty much have the details of from the trading update. If they tell us Q1 has been particularly good , then I can see the re-rating continuing. If not, it might tread water for a bit.
In my head, unless things change one way or the other in the next 12 months or so, I see 120p as the upper end of fair value.
BB
Superb rally here lately, I'd hope to break the pound barrier before too long.
Oldtramp. Sorry, I don't do the twitter stuff. Must be my age !!
Hi alfista are you on twitter oldtrampus ?
It shows that the share price of a stock can rise without lse and twitter sentiment!
Not much of a free float, decent amount of buying, that's about it.
The breakout will surely come if this sort of appetite continues IMHO. Too many comments about how undervalued this share is to leave it in this range for much longer.
Has it been tipped somewhere?
Yes still here although I sold my shares at 84p for a nice profit. Watching everyday as I would like to get back in but always wanting a few pence cheaper than the current price. Story of my investing life, always looking for a lower entry point and then missing out on a subsequent rise.
Anyone still here?
Yes this will re-rate as we become a debt-free company and start increasing dividends/acquisitions. They nearly paid of 4 million pounds of debt last year which is staggering. They can expand by getting more credit and buy a significantly bigger company or just grow organically. As long as the economy does not collapse, short term (this summer) I see this at 120-130 and long term 300p