Northbridge Industrial S... Share Discussion Threads

[topvest] 30/9/2015 21:16

The Board is stacked with Accountants. Chairman, CEO etc., so not too worried about that given they still have the Financial Controller I believe. They just need to batten down the hatches and wait for things to improve. Looks a bit ugly though in terms of the speed of the decline.

[smithie6] 30/9/2015 15:55

Ah...btw...with big fall in profits and big cost cutting .....is the MD taking a pay cut until there might better trading ??

Should do.

[smithie6] 30/9/2015 10:00

Financial role

Imho the stand in is too young and with insufficient experience

Especially for a company in risk situation and international divisions .....

In meetings with international div. FDs he would surely be..lost !

( MD thinks he can himself supervise it...since an accountant himself...not wise imho)

[smithie6] 30/9/2015 09:48

By the fd leaving perhaps the bod try to picture as scapecoat...when the MD carries most of blame....he steamed them into falling oil price and ignored it and kept spending on new kit....

Chairman has lost millions via his shares....even bought more around 5 pnds close to the top.....amazing mistake for such experienced person...
Shows that insiders dont always get it right.

( equipment NAV....real value in mkt slump is imho much lower....if over supply...

Debt is not pretty...

[smithie6] 30/9/2015 09:40

21% fall in turnover from directly preceding 6 months

And should have gone up due to having bought more hire kit...in prev 6 months..and an acquisition.

Ouch

[topvest] 30/9/2015 08:01

Think they will definitely survive, but its all a bit bleak for the next year or so.

[shanklin] 30/9/2015 07:50

Why are they paying a dividend when there are covenant issues. This way lies madness?

[topvest] 30/9/2015 07:49

Not good at all. 1p dividend. Bank covenant issues. It's a real adopt the brace position job for a hard landing. They have been very slow in turning off their hire fleet expenditure in my mind. It actually increased in H1!

[smithie6] 29/9/2015 21:23

The share price being at a minimum for the results is a bit worrying perhaps...
Results will be a nightmare imo if include one offs....future numbers....be tricky to deduce perhaps..

Oil price rise petered out.

[smithie6] 29/9/2015 21:21

Robsy
..you can forget the promises....they are dependent on clients activity levels imo...and oil/gas prices imo...all things they dont control...

Hopefully we can suss out some stuff from the news and accounts....but might be tricky..

[topvest] 29/9/2015 20:23

I will watch with interest. Sold my last at £2, but the share price is levelling and it may represent a nice opportunity soon. Still exposed myself through Western Selection.

[hybrasil] 29/9/2015 08:05

Results tomorrow.
I,m optimistic. Yes you may have to stay around for a while but I think this is cheap.

[robsy2] 25/9/2015 15:05

This looks in a lot of trouble,the interims will be messy BUT, they are promising to hold the total dividend at 6.2p for 2015 and predict they will be cash generative and profitable for the year as a whole and they appear to have taken strong measures to cut costs and get rid of loss making businesses so maybe they are turning the corner....
Lot's of accountants on the board of directors , maybe too many? , good at keeping the score , good at managing the finances but do they have the skill set to work out what is going on and is likely to be going on in the industries they opérate in?
They appeared to have expanded full steam ahead into a serious set of problems spread across lots of continents, looks difficult.
I will be having a look at the interims.
R2

[smithie6] 17/9/2015 14:59

thoughts...

not many ..apart that results will not be pretty

and going to be almost impossible I think to guess the future....partly since oil price oscillating a lot recently.....

if oversupply of rental equipment...as one assumes....in the sector...then not pretty...fixed costs nail profits..and margins should fall if too much supply, one assumes...

and hit from depreciation to accounts


load bank division has probably...imho seen a reduction in mfr sales...as shipping sector activity reduction imho

and the debt becomes more of a worry.....

but mkt knows and hence 600p to 140p fall....

been a useful reminder of the risks of big falls at any share that is highly rated......and the importance of stop losses...

/////

even with the results ...imho it will still be very cloudy picture imho

[pugugly] 17/9/2015 09:23

Smithie;> I suspect you are right - Management were very late to wake to the slow down in oil E&P.

Latest brokers estimates May/June were for eps of 0.5p & 1.1p (House Broker), however given the continuing global cut back in capital expenditure by the hydrocarbon producers since then I would not be surprised to see a LOSS on the trading account PLUS very significant exceptional costs from write downs and restructuring -

Looking forward to next year I suspect management will not be able to see any improvement in the trading climate and will say that the strength of sterling is very unhelpful.

One of my worst buys -..MEMO Self - falling knives may well continue falling and IMO here may well continue. Downside possibly below £1.00 due to both poor trading environment and asset write downs.

All imo dyor no investment advice etc - Very much a marker memo for self as to whether to get out now at any price or wait for possible recovery.

thoughts ?

[smithie6] 08/9/2015 21:26

..since announcing end of Sept for interims...the share price keeps falling

one guess is that the results will not be pretty..

[smithie6] 04/8/2015 20:02

...ah....god bless technicals !

[lozler] 04/8/2015 15:39

From a technical perspective this looks like it will at least get to 275p which would be great

[woodcutter] 24/7/2015 11:43

AGK thumped today, ouch! Larger business and not a fair comparison perhaps but buying NBI under the current oil services and mining climate is a very high risk strategy imv.

i looked at a few Ag miners and the all-in-sustaining-cost are in many cases above the price of Ag. It's becoming similar with many Au miners too.

Both the oil and mining sectors have further to fall imv the $dollar index is rising again and will rise further with the advent of a US interest rate rise and there's a clear inverse relationship between the value of the dollar and a broad range of commodidites. This in turn will weaken US exports and we'll begin to enter the next phase of the economic cycle which will be a general global downturn, it's already started imv.

Au was seen as a safe haven during the Greek crises, that has has abated for now. With Au falling through the floor as a consequence of the strong dollar all the services sectors for mining and oil are going to continue to have a hard time. Not forgeting China is beginning to have a serious slow down too.

NBI is a very high risk investment at present imv. and it could easily fall a lot lot further.

which emphasises the need to pay attention to economic cycles, long term buy and hold in certain sectors can be a very dangerous strategy.

woody

[pugugly] 21/7/2015 12:13

Down we go - Where will it stop - Could £1.00 be possible???

[hybrasil] 24/6/2015 21:14

bought some more this pm and intend buying more tomorrow