Is seems odd that Cenkos are only forecasting £12.8m of revenue for FY21. FY20 revenue was £14.5m (£9m in H2) and on this morning's IMC presentation the CFO guided for 10%-15% of organic YoY growth. Clear likelihood for a huge revenue and earnings beat. https://www.cenkos.com/research-portal?#/portal/cenkos-securities/research/39_2021012701385498894
H2 revenue has increased from £6.7m in 2019 to £9m in 2020. Direction of travel seems pretty clear. The management team are young but given we are dealing with social media, that's probably no bad thing. They are also heavily invested which is reassuring given they are planning to buy and build which will require equity raises along the way (they won't want to undermine their own holding). I think the main consideration for investors is does the valuation/risk here justify not being invested in something more proven like NFC?
Show me one company that has paid a dividend and hasn't repaid support...
If they'd actually made the money they claim, why wouldn't they have restarted shareholder returns?
I exited on 15th Jan for a decent profit and posted as such. I've no position and am not looking to take one. The sleight of hand in today's results has made this management uninvestable to me. Given the impressive chart, don't you think it odd that not one of them have bought shares in the last 12 months?
Given you haven't engaged with any of the points I've raised (all of which are demonstrably true), I'm guessing you aren't actually an accountant at all?
Despite no dividend being paid, shareholder equity has increased by less than the amount given to the business by the government. The business clearly didn't make any genuine profit at all last year. I expect the share price to take a hit when management announce they intend to pay back the CJRS and rates relief monies at the next trading statement/interims.
They continue to distort their figures by excluding covid costs but including CJRS and rates relief. These adjustments account for £27m/65% of the claimed £41.5m underlying operating profit. They are also using VAT deferrals to massage cash flow and the net debt position. Untrustworthy management IMO
Market seems to have missed this announcement from IAG: https://www.iairgroup.com/en/newsroom/press-releases/newsroom-listing/2021/sustainable-aviation-fuel
I've sold some other holdings to pile in here this morning
I've just picked up another 10k shares at 102.49p
Has anyone been in B&Q recently? You might have noticed a Speedy Hire section like this one in Sheffield Queens Road: https://twitter.com/F15JCM/status/1371577714780553216
If you read the recent news from T Clarke and Morgan Sindall, you'll see construction order books are looking very healthy. The equipment in the UAE was disposed of at a ~15% premium to book value so I'm not seeing any negatives, apart from no more business from the UAE, obviously.
The current order book is well up on 30th Nov and equal to where it was last year . That's the most important thing for me.
Added on today's news. I didn't think the RNS was very well written, not enough emphasis on the increasing scale of the contract.
Thinking of adding here but I'm conscious that the final tranche of the debt funding still needs to be drawn down and that certain unspecified criteria need to be met for that to happen. Management's track record isn't great on such things. Think I'll hang fire until it's confirmed by RNS.
The post should have said 'Strong Buy'!
Agreed. There was big volume again today. Almost certainly an institutional investor selling down/out which suppressed the price. I treated it as an opportunity and added to an already decent holding for me.
Added again as looks like a good income and growth stock at this level. Volumes have been high this week, I think an institution is probably selling down.
Sales in H1 were only 9,500 tonnes meaning 45,500 were achieved in H2. Still early days but the sales team seem to be getting their act together. We've previously been told that existing customers intend to place repeat orders so we'll hopefully see a snowball effect. Hopefully the 80kt target for 2021 was set with a realistic possibility of it being beaten.