Firering Strategic Minerals: From explorer to producer. Watch the video here.
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My initial view is not impressed. Costs do not appear to be under control and unless I missed it I do not see any committment to bring them under control. The sale of TP Engineering is expected to bring around £6m. I presume that this is the asset held for sale.
https://twitter.com/surprised_trade/status/1318437189315907584
interims are fine, considering pandemic, revenues continue to grow +33%, continued investment in growth (business will be bigger), large profits can wait, that's how you grow a business
Well last night I had hoped for a turn in the group’s performance but that was a naive thought. I am disappointed by yet further losses with a further contraction of the balance sheet. It’s difficult to see through the spin what the real state of the business is.
I’m also not impressed but also not surprised. Contacts need to be profitable, however I do hope that things will get better so will be sticking around, probably won’t increase my holding but just hold.
These are not good results. I'm going to have a more forensic look later but I'm struggling to see any positives. This is not the breakthrough year, for all the bluster focusing on growing EBITDA, not anymore this is massive step backwards. Feel sorry for the holders who have been in since the rights issue. My first reaction was my patience is at an end.
it's what makes a market, different views aims and outlook :-)
Definitely a mixed bag! My guess is not a positive market response. If we manage to sell the Engineering business in time then the year end may rescue us? As the song says "What's another year?"
Will, after sometime trying I added a few this morning only £500. But helps the average!
Overall, I’d say not a good report for the near term share price. I think this stock will only show gentle rise over the next 6 months (unless some of the TP Groups £6m sale proceeds are given over in a special dividend). That said, sales are increasing nicely (last years figures had a large £17m contract which “inflated” that figure) and sales will continue to grow well with the acquisitions made. If I had to pick one stock only for a 5 year investment, this would probably be it. Just not a great one year investment. IMO