Member Info for jollyspeculator

cleared now???

or an ii

...the sp factors in a lot of bad stuff.. ..so maybe positioning ahead of final results??

...600kozpa of rel medium/high cost au for EV of US$600-800m (depending on how u treat provisions) ...expensive rel to AAZ (similar ratios for much cheaper au) or even MML???

just over 2*Operating cash flows before movements in working capital (if u think cash and pen deficit roughly cancel each other) ...go figure

yep...agree with that...mostly... ...my account/analysis would put less emphasis on manipulation (external factors) and more on fear and greed and ignorance of mug punters (internal) ...& I would smugly conclude that guys like you and I - and plenty of other slightly less muggish mugs - are well placed to do ok in the long run

Current trading and future prospects Whilst we can foresee little change in the trading environment in the near future, we are well placed to make further progress in the second half of our financial year based on the ongoing development of our product offer, the continuing strengthening of our trading network, particularly overseas, and ongoing cost reduction programmes. Whereas we are encouraged by the prospects for the business, and the improvement in the cash position, we feel it is right to maintain a prudent approach. As a result the board has decided that any dividend payment should be judged in the light of the financial performance for the year as a whole, and consequently we will not be making a dividend payment at the interim stage.

The operating profit before exceptional items was £404,000 (2011: £156,000). The operating profit after charging exceptional operating costs of £45,000 (2011: £17,000) was £359,000 (2011: £139,000). After charging pension related finance costs of £89,000 (2011: income £16,000) and incorporating the appropriate tax charge the net profit for the period was £176,000 (2011: £114,000). Basic adjusted earnings per share were 0.45p (2011: 0.28p) and basic earnings per share were 0.38p (2011: 0.25p). Operating profit benefited from improved sales margins and cost reduction. The increase in pension related finance costs arose from the reassessment of the pension deficit as disclosed in the last annual report. Operating cash flows before movements in working capital were £929,000 (2011: £716,000). Working capital reduced by £1,317,000 (2011: increase £580,000) due to tight control of inventory. Expenditure on onerous leases was negligible (2011: outflow £645,000) and contributions to the defined benefit pension scheme reduced to £217,000 (2011: £300,000) in line with the agreement reached with the scheme trustees following the last triennial valuation as at 1st July 2011. Capital expenditure of £134,000 (2011: £566,000) was focussed on essential replacements and productivity improvements.

Airea plc has delivered an increase in profitability and a healthy improvement in its cash position during the first six months of the current financial year, despite the challenging market conditions that persisted in all of its major markets. In addition, good progress continues to be made in strengthening our strategic position with a number of successful product launches completed in the period.

of forming base of double bottom??? ...looking to buy in if so

marked down overnight yet again...to c180...climbing...but feels v bottom seeking to me ....compared with AAZ's EV of c US$100m for earlier targeted c 100kpa cheap oz, MML seems a touch pricey (cUS$600 for later targeted 400kpa) imv

prophesying an iminent economic apocalypse ...hmmmm ....well perhaps not apocalypse ....but serious bumps lol

...yes, Jolly well need it in bucket loads, my friend ...go well, RW

lol

placement price? cheaper goldies elsewhere imv

as well ...even handed

lol

just closing in on fair value imv

on free ride now

...and so on lol