FishWorks Share Discussion Threads

[paraiso] 04/12/2006 11:32

i repeat the ceo , the busted ex property developer, is the problem

the restaurants are not big enough for his head

the wrong director was pushed out.

[longshanks] 03/12/2006 21:13

I would like to see some audited accounts because currently the preliminary results issued in October aren't worth toffy and until I see them I am suspending judgement.

The signs are there that they want to fight a decline in investor confidence rather than allow it to drift - and this inspires me to be more charitable than you.

If the audited results show that the business is operating profitably I will definitely hold - as that is what I look for in a brand like this.

Most of the trades on Friday were "X" trades with the rest fairly evenly spread between buyers and sellers. I think you may be acting a tad disingenuously dodddy in your race to make money from your short position.

[dodddy] 03/12/2006 09:44

the city wont forgive them that easily they have been made to look stupid. it will take a long time to get any credibility back shareprice will drift lower ove rnext year then be taken private for a song. forget shareholder value thats a distant memeory now these are a 'sell' imho. high volume friday as well as more sellers tried to get out

[longshanks] 03/12/2006 02:44

Rats leave a sinking ship because they don't want to drown - in this case he was pushed.

I find it reassuring that FSH can make hard business decisions so easily whether it be closing down unprofitable outlets or dismissing incomptetent board members. They are obviously keen to preserve shareholder value where possible and rank it higher than board stability - a rarity in companies this size.

We may get a "face" as Chairman now - someone who the city trusts and can motor the next stage of growth.

[dodddy] 01/12/2006 09:42

the rats leave the sinking ship


FishWorks executive chairman Roy Morris resigns

LONDON (AFX) - Restaurant chain FishWorks PLC said executive chairman Roy
Morris has resigned.
Non-executive directors Nicholas Stanley and Anthony Fisher will assume
specific responsibilities as joint non-executive chairmen with immediate effect.
The company said it will recruit a chairman with suitable industry
experience.
The AIM-listed company last week issued a profit warning saying it expects
full-year profit to be below market expectations.

[paraiso] 24/11/2006 14:55

its the ceo he has a huge ego and has no idea about money only how to spend it

there should be a boardroom coup he was always the front man why was he promoted to ceo and swapped roles with the present chairman ?


there is something not right about the whole thing


i repeat, why do they keep swapping auditors who wouldnt sign what ?

[dodddy] 24/11/2006 12:09

>longshanks the thing fund managers hate the most is being led up the garden path. dont hold your breath for a re rating it wont happen. they have had their chance andthey blew it. this is now only the beginning of their problems,i think they are going to have to go cap in hand to the city for money in the not too distant future. and no way will they get a bean unless its at a huge discount after this debacle.who in their right mind would risk investing in a co run by amateurs ?

[longshanks] 24/11/2006 11:34

"finished in the city"

Don't quite agree with that logic...but heads definitely need to roll to get them out of the mire....I expect the FD to go soon, but I suspect it is probably the chairman's fault. If they bring in a decent manager then a rerating is possible.

[dodddy] 23/11/2006 06:13

>longshanks, they also seemed confident in their last results, who would believe them now ?.They may run good restaurants but the management lack the ability to grow to the next level

[longshanks] 23/11/2006 03:20

This warning on the heels of its bullish results does seem incredibly amateur - it is difficult to see how they could not have known about this situation two/three months ago. Liquidity may well be an issue with rising interest rates although they seem confident that they have enough capital to fund the startup of three new venues.

I still like the restaurants - on the pricey side admittedly but - if you like fish - it is actually very good value.

[isis] 22/11/2006 12:49

Codswollop.

[dodddy] 22/11/2006 12:43

mangements credibility is in tatters, a warning after what appeared to be great results is a big no no in the city.These will drift down now then be taken private for peanuts in a years time

[vision88] 22/11/2006 12:02

Price r/now 35p-37p

[vision88] 22/11/2006 12:00

this could from this point go either way ,depending on all the if's and buts as well asall the may be's, looks fairly priced r/now

[offshore eye] 22/11/2006 10:48

FSH was always going to be a dog. No long term legs. I am sorry for investors as I cant see this going anywhere but down the tubes. I always notice as I pass by Fish Works in Turnham Green just how expensive the place is AND EMPTY!

[dodddy] 22/11/2006 10:43

profit warnings come in 3's they have grown too quickly and the management have shown themselves to be lacking and too gung ho. im staying short

[pugugly] 22/11/2006 10:03

Just had a quick look at this but from the accounts an worried about the level of debt and low cash levels - (imo & dyor) they are going to need a further cash injection.

Given todays trading statement although still forecasting a profit the region of #0.75m (EBITDA #1.6m) I would suspect the interest bill could rise and if any delays in opening or shortfall in traffic could be a problem.

Any thoughts?

[pugugly] 22/11/2006 09:06

Spot on Doddy - Nice to see you still around. Mice taking quite a tumble today - Cash flow does not look too healthy. (and I hold but from 26p but I loath loss of profit)

[pugg1ey] 22/11/2006 08:46

got any other rumours dodddy so other people can make a few quid?

you seem to be in the know!

[dodddy] 22/11/2006 06:38

>longshanks, i am short a few from a few days ago.To be honest i cant see how they could warn after the last set of results. unless they have expanded too quickly ?

[longshanks] 21/11/2006 21:45

not heard any myself.

Trading in the restaurants in Richmond/Kew seem to be quite healthy so don't know what could be going wrong.

Any specifics or are you just going short on this stock dodddy? :)

[dodddy] 21/11/2006 14:59

rumour that all is not well and that they have run into problems floating around the city