Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
Anyone noticed: Ian Cheshire non-exec at Bradford and Bingley; until v recently Chairman at Debenhams; CEO at Kingfisher and now the outgoing CEO says that after 3 years there is still 10 years of work to turn it around. Knighted by David Cameron.....
The Board and management of this company have no idea what they are doing. The latest order is a capital sale - they have sold equipment to make the solution. This business model was discredited a long time ago and yet they persist. Only one outcome for this company unless someone decides to buy it for the cash.
You are probably right. Even so I am amazed that one of the national papers have not exposed this outrageous decision. Bank of Scotland was as bad as RBS in its impact upon the UK economy and this guy was on the Board. How can he be running a major UK corporate?
Can anyone explain to me how the CEO was knighted having been a director of HBOS when it collapsed? James Crosby had the good grace to give back his knighthood and he had left the Board 2 years earlier.
Well, look at it this way. They have sold 50% of the business. Everything left is valued at about £9mn on sales of about £18mn. Logically that is cheap. But 100% of the business is in the US, but the Board isn't and neither is the listing. That is very challenging for a tiny business. Also, is the US business going to be profitable this year? There was a big warning in the annual results about US food sales being lumpy. Without a clear message about how they are going to use the cash to drive really strong growth this one looks pretty high risk to me.
I think the market has told you.
And all sells today. Looks like the results not as good as the Company tried to say they were.
Fingers crossed that both banks have not over extended into the Chinese credit bubble.
Either there is a load of bad news in the balance sheet or this is cheap and someone makes a bid. If the former why have they not disclosed it as they should?
Change of accounting policy on revenue recognition and a warning that revenues will be lower in 2014. Not exactly a strong reason to buy. At least they have cash and are not burning it.
I quite agree with you. Risk looks to the downside at the moment.
I hope you are right. No doubt enormous potential but the scale of the project is very ambitious and so far the news flow is consistently one way (taking longer costing more). If it comes off then bonanza.
To be avoided. Still too expensive. Look at the results.
You are right, but can this Board deliver it? They have failed to deliver anything on time to date.