Multiples of todays Share Price28 Jul 2015 00:00
If the proof of the pudding is in the eating, then it is fair to saythat Pinnacle’s pudding is not quite out of the oven; but by the time this pudding has been served up and eaten, the share price may well be a multiple of where it is now.
So rather than sit at the table, spoon in hand, it might be helpful to have a look around the kitchen and meet the new chef. Pinnacle’s new chef, or rather CEO, Nicholas Scallan, picked up the reins in March 2014. Having initiated and completed a wholesale operational review, he has since been working hard to implement the resultant strategy to turn around Pinnacle’s businesses.
As with all turnaround situations, the anecdotal evidence of progress comes several quarters before the financial evidence. However the interims to March 2015 – which were published a few weeks ago- are already showing some very promising green shoots.