Management Resource Solu... Share Discussion Threads

[sm0ggyg] 19/10/2018 00:29

Meanwhile, the markets continue to sink, taking everything with it. Small cap tiddlers based down under is not the place to be.

[lufc5] 18/10/2018 23:49

Looks like I'm the odd one out then......

[smoggyg] 18/10/2018 16:57

Not an assumption thehitman1,Sm0ggyG has stalked me for over 25 years under different names and even different providers. He is male,he has a weight problem,as well as a mental problem. He lost all his money years ago and even had to sell his house to fund his gambling share habit. You know him as 12bm as well as Sm0ggyG.

[thehitman1] 18/10/2018 15:47

Another assumption, "him".

[darola] 18/10/2018 15:38

Your assuming anybody would shag him to get to grandkids in the first place

[the big fella] 18/10/2018 15:37

Its amazing how many trolls there are on ADVFN these days. Imagine the conversation:

Grandchild to Sm0ggyG "What did you do when you were growing up Grandad?"
Sm0ggyG to Grandchild "I spent the whole of my 30's stalking someone on a share bulletin board"
Grandchild " Oh!"

[smoggyg] 18/10/2018 15:04

It is impossible to shake off Sm0ggyG Danny as he is not a 'doubter' he is a stalker,eos.

[hulk2004] 18/10/2018 14:47

They have bought plenty of equipment last 6 months plus the new workshop to stick it all in, hardly the actions of a company with poor cash flow, also had a small placing for about £1 million in the summer from memory. Once accounts and debt refinancing under better conditions and forward looking statement announced all to play for here!

[thehitman1] 18/10/2018 13:54

Sorry smelly and smelly, invisible mates excluded.

[thehitman1] 18/10/2018 13:52

Doubt anyone here has any mates.

[danny baker] 18/10/2018 13:47

In this sort of business paying down debt quickly is a double-edged sword as it may mean they are not investing enough in new equipment. It's all too easy for a company like this to have one good year especially after a very bad year. I wonder if they will make a profit forecast for the current year when they announce the finals in December similar to the 2p eps they forecast. It could be what the shares need to shake off the doubters like sm0ggyg.

[john henry] 18/10/2018 13:38

According to Twitter Morffew has another 400K to sell and will hold tight to the remaining 5M

[darola] 18/10/2018 13:16

We need an ii or two to get interested here, which might happen when the audited results are out...

[wooster4] 18/10/2018 13:07

Doubt you have many mates!!!

[sm0ggyg] 18/10/2018 12:23

Where did I claim to be Australian? Its possible to have mates from different countries.

[biggest bill] 18/10/2018 10:20

Sm0ggyg, so you are now claiming to be Australian? This probably explains your upside down view of mrs.

[sm0ggyg] 18/10/2018 10:13

Morrsy? We go way back. Good chum of mine.

[biggest bill] 18/10/2018 09:58

Sm0ggyg, you had never heard of Paul Morrfew until today. His selling explains why the share price has not reacted to the recent very positive update.

[sm0ggyg] 18/10/2018 09:37

Paul Morrfew is a very shrewd cookie, and knows his onions.

[apfindley] 18/10/2018 08:49

Morrfew selling. Good riddance to him. Sell the rest too you selfish parasite.

[troutisout] 18/10/2018 08:48

SmoggyG,

I don't think URU are selling their holding, I think they would like to see it grow in value.

This Morning's RNS shows Morffew selling down to below 3%. Together with Bachmann they hold just over 5% and are sellers, just needs a few more buyers, as it is the overhang keeping the share price down not any fundamentals. Every time it goes up on news it gets sold into, these sellers can only sell once and when they are gone then the handbrake gets released.....

[return_of_the_apeman] 18/10/2018 08:41

Is that another seller in the RNS and do we know anything about them?

[smoggyg] 18/10/2018 07:34

Debt is being paid down fast.This is from the interims in Feb./////////MRS Group

Property, Plant & Equipment

During the 6 months to 31 December 2017, both MRS operations have invested approximately $2.4m in total, in existing and additional plant and equipment, and all of this has been funded through free cash flow.

Borrowings

There are 3 core debt facilities utilised by the MRS Group

1) Debtor Finance
2) Commercial Bills
3) Equipment Finance
1) Debtor Finance: BPH has a $2.6m facility and MRSSG has a $6.0m facility. The drawn down balance of both operations fluctuates on a weekly basis depending on the invoicing cycle and the receipts from customers.

2) Commercial Bills: The current commercial bills were established with the restructure of the company in February 2017. The initial balance in February 2017 being $4.3m, the balance at 31 December 2017 is $2.8m. These commercial bills will be fully repaid by early in 2020.

3) Equipment Finance: BPH was acquired in February 2016 partially with a 48 month $4.2m equipment finance facility, MRSSG was also acquired in October 2016 partially with a 48 month $4.2m equipment finance facility. During FY17 the rent to buy agreement within BPH was recognised on the balance sheet, increasing both the PP&E and debt by $3.6m. There are 25 repayments remaining at 31 December 2017.

Overall, the Group's borrowings net of cash reduced by $1.5 million between June and December 2017.

MRS Outlook

The markets which BPH and MRSSG service continue to be the strongest they have been in years. BPH is currently working at full capacity and has a strong pipeline of work to complete. MRSSG is experiencing strong demand, with revenues now averaging close to $4.0m per month.

The Hunter Valley thermal coal price has been strong and stable providing confidence for the coal mines to commit to repairs and maintenance and Yancoal has recently completed the acquisition of the Rio Tinto assets in the Hunter Valley.

Both BPH and MRSSG were run as separate operations with little interaction or utilisation of shared services and group purchasing during the financial years 2015-16 ('FY16') and 2016-17 ('FY17'). During late FY17 and 2017-18 ('FY18') the new board prioritised significant cost cutting and restructuring, and has restructured the senior management, which now includes Group Human Resources, Group Asset Management, Group Procurement and Group Financial Management. Further changes include the recent recruitment of a General Manager - Civil and Earthworks, as part of succession planning at BPH.

The cost cutting, and restructuring continues as well as the drive to grow revenues., The board is committed to focusing on earnings growth and shareholder value for the remainder of FY18 and beyond.

1H18, first half expectations of profit after tax and earnings per share exceeding $2.2m and 0.8p respectively, have been exceeded, with 1H18 NPAT $2.5m and EPS of 0.83p, whilst for the full year FY18 earnings per share of not less than 2.0p are in prospect.

Further progress is anticipated in 2018-19 as debt continues to be repaid from the strong operational cash-flows generated by the major changes which are now taking effect.

On behalf of the board, I'd like to thank all employees for their continued commitment to working safely and to all stakeholders of MRS including employees, customers, suppliers, funders and shareholders for maintaining their support for the Company.

Paul Brenton
/////// No,the debt is being paid down fast,the fundamentals are great but there is a seller. It could be Bachmann or URU or someone else who is selling for their own reasons. The future has never looked so good for MRS imo.

[belgrano2] 18/10/2018 07:21

Is it to do with the debt...got caught big toime with that one once when the bank foreclosed and wiped out the company. then started back up again.

[belgrano2] 18/10/2018 07:19

Many thanks for that info john henry.
We know that coal production in particular has been very cyclic in market price up to now. However the Chinese are building dozens of coal powered electricity stations all over the far east in small countries that quite frankly dont give a flying F... about global emissions.
I see demand at a minimum sustaining and probably increasing and taking prices north as well. Thats on a long time scale not just annual swings like we,ve seen o date.
Electricity demand is soaring as people want to power up their electric appliances and new air con, especially in nations that have low per head current consumption rates.