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Dc2 - we're all thinking the same...
Also, I'm not sure why, according to Allenby, current year profit should be so dependent on a software contract that won't be signed until just before the end of the year. Surely the bulk of the profit will accrue in future years?
Today's "further announcement" - £30k buy from the CEO - seems to have settled the market's nerves.
"Coral Products warns on profit – but investors shouldn't panic".
I agree. But we'll be living on our nerves until further announcements are made.
If it's just deferral of purchases by customers that's the problem, it will soon unwind - as will the market over-reaction.
However, I think the new CEO is indulging in a bit of kitchen-sinking here - which has inevitably played into the hands of the MMs.
On the plus side, Mr Burn does at least sound like he's on the ball. Let's now see if he puts his money where his mouth is...
Now that the results are out of the way, we just need some director buying,
Should stop the rot. But we may have to wait for the actual half year numbers in a week or two's time, before the shares solidly head back north again.
No, it was just a test purchase - though I have made a couple of purchases recently at an average of c14.5p, in the expectation that the market will finally respond favourably when the interim results are published (the drastically reduced cost base should ensure a respectable profit whatever the revenue performance).