I think the board need to have a word with themselves. This doesn't seem like a good deal for the company.. a better idea would be to get rid of Anoop the CFO and find some middle ground regarding lease accounting which allows them to rob HMRC but not give away the company and stiff the shareholders.
Looks like they missed a trick with flavoured gin, I guess they've done well to still make a profit and at least the marketing and admin have been reduced proportionately. Looks like a number of new irons in the fire and RedLeg Spiced Rum still going strong so it's a hold for me... especially at this cheap share price.
RE: TVFB pulls out of bidding for ESL. ESL just got cheaper.17 Oct 2019 09:58
But they reserve the right to join the bidding if Dbay eventually make a bid? I think I'd be happy enough if nobody made a bid and the company was allowed to recover under the new management... need to see the interims to properly assess the situation. The debt has always been clear but need to know if the EBITA will be back to normal next year after taking a hit to straighten things out this year.
What makes you think that? Sure it could dip further short-term depending on the interims.. although competing bids for the company could push the sp up... and if no bids materialise then it's not like the company is in danger of going out of business.
So... Distil own and make RedLeg Spiced Rum (the one on all the supermarket shelves), they have a trademark for Blackwoods RedLeg Spiced Rum and they created the infusion recipe which makes it taste so much better than other spiced rum offerings. (Because it's the product itself as much as the name that sells).
Their Blackwoods Gin is also much better (smoother more refined IMHO) than other brands on the same shelf.
I don't see a problem.
There's no debt, they're making money, and if they would only stop blowing it all on 'marketing' there might be some left over to return to shareholders pending any worthwhile offer for one or more of their products from one or more of the big players.
And we have £7m plus stashed from the sale which presumably will show in this years figures with another 1.5m next year. They are really good at keeping a lid on this money but eventually the lid will burst and we will all be showered with cash.
Kier debt is miniscule compared to many FTSE 100 companies. The issue was Carillion going bust costing the Govt. & lenders millions and then Kier having to do a rushed rights issue to lower their debt to keep Govt. and lenders happy.