Member Info for Krustysmegma

Indeed. Having worked in the public sector I can understand what Rory MacDonald is saying though: "As a result of this rephasing, which the Board believes is connected to the new public sector budget year, the Group now expects to report lower than anticipated revenue for FY23 of c. £40 million." It is often the case that public sector budget holders have to spend money very rapidly approaching year-end (31st March), otherwise their allocations for future years are likely to be reduced. However, they may not have received their budget allocations for 2023/24 as there is often a lag at the start of the new year whilst budgets are being agreed and distributed. One of the dangers of doing business with the public sector I'm afraid, but hopefully they'll be back on track relatively quickly once the money starts to flow down. Not the news investors have been hoping for though, that's for sure.

You're not on your own tonich, I think quite a few of us are in the same boat. I've taken a bit more proactive approach recently and traded a few, just to get my average down a bit. I've managed to reduce it from 0.97 to just below 0.90 which doesn't seem much but makes me feel a bit better and doesn't look quite such a drag on my portfolio. Every time it gets to 1p I keep thinking "that's it, I'm out" and then a little voice in the back of my head says "hang on, this could be the turning point" and I can't bring myself to sell. After which, inevitably, it falls back to 0.65. Perhaps 2023 is THE year though - we live in hope! Good luck either way. K

Massive volume on Wednesday but still no change in sp, does make you wonder what's going on here?

Very clear now that the Trust is going to be wound down. Very sad, this will drag on for years as the dividend gradually reduces and remaining monies are thrown back to us like well-picked bones. Perhaps the confirmation of the Board's intentions will be the catalyst for a rise in the SP once the true NAV is highlighted as part of the process but I somehow doubt it. Why would anyone invest here now, knowing the Trust is going to be liquidated?

Over the years there have been more moon own-goals than moon goals here.

Couldn't resist, sorry. I'll get me coat...

Certainly looks well timed broomtree, for now at least.

broomtree, I assume you mean produces some support rather than resistance.

Agreed, and particularly encouraging to see the debt level at Grindrod seriously reducing too.

You're probably right Sam, I was just musing really. I still have a lingering thought in my mind that the Buttery's created TMI/TMIP as a vehicle to buy Grindrod, and as Ed is now CEO of both organisations it would fit with that scenario if Chris became Chair of them both too. I'm usually way off the mark with these things though lol!

You missed out arguably the most important use for the freed-up funds, which is to reduce the short-term, high-interest loans. I'm not normally a fan of buybacks either, but if they're done when the SP is at a significant discount to the NAV then I see how shareholders can benefit. As I'm in this for the long term, I'm happy for them to use the funds as they see fit. I'm afraid I don't know the answer to your question re a potential Labour government, I'm not sure if they've developed any policies on renewables yet (or anything else, for that matter...). Good luck Gavster, hope your plan works out for the best.

Just speculation on my part, but I wonder if Chris Buttery might be in the running for the vacant Chair role here? He's already a significant shareholder and has the relevant experience. Guess it depends on how hands-on he feels he wants to be - could be barking up the wrong tree of course.

all pretty positive really. Debt reducing in line with plans, disappointing (but inevitable) that much of it is being achieved through vessel sales thereby reducing future earnings ability but needs must. NAV increased which is reassuring, and the dividend maintained at 2 cents - what's not to like? We'll have to wait & see how this translates into P/L once we have the year-end statement.

So you think $500m profit next year for a company valued at £1,017m? Enjoy sitting on the fence, meantime I'll enjoy collecting the dividends.

There we go, that didn't take long. 0.6455

Quoted 0.668 to buy. I might wait a couple of days & see if it drops below 0.65 again.

I bought more of these at 0.6485 in October which I then sold for 0.9684 in January to reduce my average (well, my wife's average in this case but she doesn't know...). Now that we're back in the 0.60 - 0.70 range, notwithstanding the upcoming £6m profit previously discussed here, I'm wondering whether to try the same trick again. I'll see what I get quoted to buy.

Trading in-line, green shoots of recovery recently, viewings increasing, shares up nearly 4%. Exactly what I'm hoping for here tomorrow.

I really don't understand the need for a liquidity consultation process. Here is a solid company making short-term loans to growing businesses in exactly the sectors Government needs to see growth, the dividend target has increased (to 7p, which is close to 9%) and will be fully covered, they've prudently bought back shares at a discount to NAV to hold in Treasury and sell at a profit when the premium is restored and they've been able to increase the level of income for shareholders by raising rates for new loans. Please, II's, just let them get on with their job and don't deprive me of yet another regular, reliable dividend payer.

boxthefox, a fellow Cattles victim! And not my only disaster I'm afraid (HAWK, VOG, DDDD, TRP, KDNC, there are others...) not to mention Woodford. Still, what I've learned is you only need one or two successes along the way to more than put everything right. It does require (in the main, anyway) buying and holding, or I guess more accurately buying, holding, selling a few, buying them back, holding, holding, selling a few etc. etc. - you get the gist. My personal thanks go to Taylor Wimpey and Sareum for making my retirement a whole lot more comfortable than in could have been, and with most of the winnings now reinvested in boring dividend payers I hope it will last for a good long time yet. Good luck anyway, hope you have a bit better fortune this time around. K

Your "What is being hidden?" comment implies that JUP has changed it's reporting method, but if you look back at previous April trading updates (I've been back 3 years) there's no mention of profit, cash or debt outlook. So like-for-like, as far as I can see.