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They need to scrap this currency tailwind thing. It's becoming a joke.

Just reread the revenue bit. So 152m now. 164 was based on constant currency. So this will hit profits way more than 3 million. So a 18m drop in revenue for year. Wow!!! No wonder share is down 20%. Just reversed 3-4 years of growth and reduced profits by 20 million at same time. Ho hum. Schroder were right it seems.

I was right to question revenue and margins when they announced CEO. It just felt like we were too early in recovery. I think with all updates revenue for 2021 has dropped from 183 to 164m? Nearly 10% drop with margins 2% lower too. How big will losses for 2021 be? I would knock 3 million off Edison's forecast. That forecast excludes one off costs.

Not suprised really. Not much had changed. 5m below Edisons figure of £169m. Focus on future.

The GF/CEO news is hardly a shock given their recent partnership. The new CEO still works there. Maybe has to give x months notice?

You would think they would rather build all the parts in the same facilities.? GF is expanding hugely at present.

IQE are starting to tell a story here. So a TU up to now was never going to happen before the CEO announcement. They will want to bring the uplift after he joins. Albeit I still think were at start of the curve if there is to be a positive leap forward. Get all the bad news out for end of year results.

The video on Youtube seemed positive. Albeit no indication of where revenue right now is really at. Or an indication on margins. They must think at some point this will all click. So still some unanswered questions. Can these new partnerships bring down costs? You can bet further factory closures will follow at some point. Shared sites too?

GLA. Nearly at 50p.

I think the existing funds have been soaking up sold stock. Canaccord Genuity Wealth Management seem to b the main one. I don't think they will be trying to push up SP. They may just soak up sold stock here. SP needs news to move here. Albeit holding stead at 48-49p.

https://www.telummedia.com/public/news/telum-talks-to-brian-tyson-deputy-ceo-of-sec-newgate-and-managing-partner-of-sec-newgate-australia/z0v802n9lq

Very positive interview where Brian keeps saying how well the business is doing and how they offer a one shop boutique which now is based over many countries across the world. Month old but not suprising given recent RNS. Aus area has recently hired 2 new partners.

Publicasity in UK also seem to be hiring several staff. Could this really start to take off here? Makes 2022 quite exciting if they do more acquisitions. Huge difference from Porta days where operations kept closing. I think Porta just lacked a strong European base to build from. Plus ran out of cash to do what they wanted.

https://*********************/companies/uk/other/sec-newgate-spa/research/arden-partners/sec-newgate-good-trading-update-optimistic-outlook/15_4292

They reiterate buy with view that further acquisitions should give strong sp movement. Couldn't see full report or price.

Has anyone seen this or know what it said.

Nice update. Cross selling going well and the integrated process paying off. Will we see buying beyond Morton transferring funds. Would be nice to get a broker upgrade as its been 9 months since 89p rating.

Next update could also be a US or China acquisition. With further cost savings next year this could be good. Twister moving will have cost savings too no doubt. Sooner or later dial must shift here.

If other firms can make it cheaper licence out the tech and just take royalties? It was a reach RNS. Not sure how important all these small bits of RNS news are. Not shifted dial yet.

So Major Shareholders page has been updated.
Old numbers:
Invesco 142,478,483 17.78
T Rowe Price Global Investments 96,897,779 12.09
Canaccord Genuity Wealth Management 58,176,938 7.26
Hargreaves Lansdown, stockbrokers 54,721,229 6.83
Dr Andrew W Nelson* 36,140,417 4.54
Interactive Investor 33,019,510 4.12
AXA Framlington Investment Managers 26,335,606 3.29
Barclays Smart Investor 24,679,403 3.08
As of 31/04/2021

New numbers
Invesco 142,161,455 17.72
T Rowe Price Global Investments 83,545,143 10.41
Canaccord Genuity Wealth Management 64,715,685 8.07
Hargreaves Lansdown, stockbrokers 57,631,971 7.18
Interactive Investor 40,346,763 5.03
Dr Andrew W Nelson* 36,140,417 4.54
M&G Investments 27,742,549 3.46
AXA Framlington Investment Managers 25,836,499 3.22
Lombard Odier Investment Managers (Renamed from Barclays) 24,681,480 3.08
As of 30.09.2021

So the changes?
TRP down 13m. Cannaccord up 6.5m. HL up 3m. IA up 7m. M&G up 10M.(Used figure from FT website) Axa down 0.5M. Barclays no real change.
So the likely changes come from TRP reducing and Shroder selling up? With 4-5 other finds soaking up the shares.

Overall no major top shareholder has really sold out here.

Okay tired eyes last night. They are actually moving more shares into the HHL fund now and not away from. They own 29.66% of SECN for now. So if they are moving all the shares this could go on years at this rate. Not sure what their plan is.

Had a further look at this. The last RNS from Morton did vary from it's 2019 RNS.
Sep 2019. 846,698 (HIHL) 6,335,183 (RGL)
May 2021 1,096,698 (HIHL) 6,085,183 (RGL)
So 250k exchange between the 2 funds. Could be for tax reasons or just clearing HHL stake of it's fund to another area.

I figure another 200k shares has now been moved since the May RNS. Are they obliged to report only when each part of fund crosses a threshold? On that basis there is 650k or so more shares to move.

I think a few of the trades could of been PI but I really doubt there is much spare stock on the market right now.

I don't believe they are allowed to go over 30% here as he would have to make offer for the company. Also no idea how he is doing health wise. Albeit it's likely his sons are running things.Given there losses here and the profits now flowing into SECN it would take an offer well above 90p to get them to sell here. They are dead on 29.99% here.

All of this explains why the SP rarely moves prices here as the fund is pretty much setting market prices. Hence why few directors could be buying if limited stock.

A solid H2 and strong TU must push this higher at some point. They are posting a lot of 2 year notifications of Porta/Secn all saying how well things are going. Another video saying they have been a part of 10-11 IPO deals.

On another forum a poster suggests they are looking for new deals in China and US to strengthen their footholds there. So expansion should continue. Just need to wait for the news. Not sure when they will announce. PR timing no doubt.

2022 cost reductions on rent must be good news too. Overall ignore the day to day trades here and focus on the news as Mortons total number of shares has not changed.

So Shroder not happy with IQE management. This share is drifting unsure if it's due to their comments or not.

They have revenue for 2022 3M lower at £182.4M with PBT 0.5M higher at 7.3m. *PBT and EPS are normalised, excluding amortisation of acquired intangibles, exceptional items and share-based payments. So it des not include the 2.5m closure costs or write down of any assets. So PBT est is closer to 4.8m. They have estimated a 50% of the 1M savingas it closes in mid 2022. So the savings are just 1m a year not 1.8m.

As evver they await to see what happens with Iphone 13 and 5G roll out. Plus use of Oled screens on mobiles. So no likely shift in SP for now.

https://www.edisongroup.com/publication/optimising-its-mbe-footprint/29999

Has the customer just decided to no longer order the product and they moved to close the factory shifting production elsewhere? Or are they making cost savings and choosing to no longer supply certain products due to poor margins and to streamline operations? Either way if there is a 2.5m closure cost it will take 2-3 years for this cost saving to really appear on the bottom line. Interesting. I would like to think this was part of a larger strategy to simplify production/products to increase margins. Any other firm I would of given the benefit of the doubt. IQE however.......

The Welsh site is in ebitda. Whose to say this is the last production change? Plus what grants are they getting for being in Wales. They are based there. Numbers for 2022 matter not if they are throwing away money on inefficient sites.

This is what they should be doing. Production focused on 2 sites in Taiwan and North Carolina to reduce costs and increase margins. RNS not yet appeared on here. Will reduce 2022 revenue but bottom line is what matters. UK site still remains which feels a bit odd. Guessing rent there is not so bad? Hmmm

Pound is creeping lower to $1.34 to the pound. Inflation fears! IQE still expected to grow revenue in 2022. Plus Iphone 13 now out. Maybe not as bad as it seems. Albeit their past performance leaves a lot to be desired. Not sure a lower pound will save 2021. 9 months already gone. Could add a few million to bottom line?

As long as they are breaking even it leaves some hope for the future. Especialy if they can reach 10m+ profit next year. No big sell off here. One shorter remains. Enismore at 0.91%. Plus any shorters below 0.5%.