The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Ok Auson, you are correct.
I am still very disappointed with the financial forecasting which has been absolutely lousy. This has resulted in several profit warnings in short order. The markets are surprisingly not impressed.
Yes, this company is in the dog house and the financial management has been particularly poor. I have to accept this. Yes I am underwater big time. I can only go by the advice given by Citi bank who stated recently to sit it out as they believe things will get better.
My own view is that SMS should step back from running the company and put someone in position who understands finance. I would perhaps jettison the current CFO because he has failed dismally. SMS would better serve the company in the role of intelligent person. I know that Unilever tend to employ economists to run their plants because they understand money.
There are lots of companies that I would never invest in but I don’t feel anyway inclined to go on relevant share chat sites and rubbish them. Each to their own. If you get a psychological kick out of doing it that’s fine by me.
I am perplexed why two large American investment companies would invest in S4. I suspect they will have had greater access to the numbers than you or I. Perhaps they just want to knowingly waste millions of dollars, don’t you think. Obviously financial due diligence is considered a waste of time.
These two big investment companies might demand to have a presence on the BoD where they could hopefully influence a modicum of proper financial control. Here’s hoping they are allowed to become involved because the financial management of this company has been shockingly poor. In particular the financial forecasts up to present have been all over the place and as reliable as a Trabant motor car.
My experience of companies who need to raise money from rights issues to cover debt is not good. This company is poorly managed and by taking up the rights issue I will be throwing good money after bad. I will not be participating. Better places to put my money. The consolidation of the shares is a way of trying to hide the poor performance. I just believe this company to be incredibly shifty.
We are still basically an exploration company so it is not unsurprising that the SP is where it is. Currently we are consuming and not really generating cash. However, I remain optimistic about the future.
Fully agree. I have sent him two emails concerning the need to have a fully populated financial calendar, providing reasonable notice of forthcoming results. It all appears to very hurried at present and the city perhaps believe SMS et al are being rather shifty. No comment.
It takes along time to restore reputation once you destroy.
A typical characteristic of short sellers is that they frantically bombard share chat sites with negative viewpoints. Seen it all before and I would say the vast majority of them are eventually wiped out because they are greedy and fail to close out in time. Please don’t fall into this trap.