Zenith Hygiene Share Discussion Threads

[volsung] 08/10/2008 14:16

Looks like its doing OK to me

[gac141] 01/8/2008 17:36

Could the banks be looking to close this operation down?

[gac141] 19/6/2008 16:32

Any thoughts on the AGM? I might go along to see what they have to say for themselves.

[harrisdodd] 01/4/2008 23:12

What are its continued losses ?

[matt c] 01/4/2008 21:57

by my calculations, can't see how it can stay afloat with it's continued losses???

[andrbea] 06/3/2008 18:19

strong finish (41%)

[truffle] 06/3/2008 08:24

I wouldn't be too sure about that.
The fall may now well be overdone, with most/all of the bad news probably out of the way.

[bokbok] 04/3/2008 16:52

Smacks a little of the old dead cat bounce. Give it a week or two and you'll see where the bottom lies for those fishermen among you.

[premiumdeal] 03/3/2008 13:51

Harrisdodd

Totally agree. Surely that is their job. Sounds very suspicious. We have a new finance director to sort this mess out but my confidence is low. Recently he has come in for a right pasting from investors at previous Co.

[gac141] 29/2/2008 17:32

There are some serious flaws uncovered here. What else will come out?

[harrisdodd] 29/2/2008 16:37

It just stinks to me, how could the auditors not pick up the very crude errors and misstatements included in the accounts.

In particular how can a company have a policy that if goods supplied are not invoiced after 3 months then they assume that they will not be charged for the goods. Also bonuses of £250,000 mainly to directors were not included in the accounts. I would have thought that normal audit procedures should have uncoverred these errors.

If you look at all the other many errors, if the auditors could not spot some if not all of these then what is the purpose of the audit.

It is also interesting to note that the 2006 auditors were paid £146,000 fees acting as reporting accountants during the various aquisitions, going by their audit this was a waste of money.

I also note that they have changed auditors and have not spotted any comment on this in the accounts.

[premiumdeal] 29/2/2008 15:57

Not a very auspicious start.

Zenith are clearly in a right old mess. Personally I doubt if they will extract themselves. The Banking facility is punitive and there is a real risk that we could go under.

[spurious] 29/2/2008 14:31

I can only say that my experience of Ian Selbie has resulted in the destruction of shareholder value and it looks like this is a trend that is set to continue even if he has played no part in the current situation. Good luck to all shareholders
regards SP

[gac141] 29/2/2008 13:31

SCAP have just dropped the bid to 6.25 p- A very brave buy indeed.

[latifs100] 29/2/2008 11:22

a brave buy of 25k.. good luck to the buyer

[aliandamanda] 28/2/2008 13:02

"For the year to Aug 31, Zenith Hygiene said its pretax loss widened to 8.6
mln stg from a restated 3.1 mln last year."
Ringo was a finance man, no wonder he stepped down.
Shocking! Steer Clear!

[andrbea] 28/2/2008 10:34

green arrow, first time in ages...

why not announce some contract wins/renewals to turn it around?

or aren't there any?

"Revenue rose to £38.1m from £34.3m the year ago "

[gac141] 27/2/2008 09:38

Sliding at an alarming rate. I even thought about an investment but would wait until the house is in order.

[andrbea] 26/2/2008 13:45

maybe the new directors should buy some shares and restore some investor confidence?

an article (from the 25th):

/....

Gavin Gracie, who has significant turnaround expertise, according to Zenith, will take up the full time role of CEO and Simon Barrell will take on the chairmanship in an acting capacity.

The two new appointments were just a small part of the group-wide restructuring that Zenith has implemented, including the appointment of a new FD and finance team, the appointment of consultants to review of warehouse and distribution operations and new management teams across all areas.

The company said it has also introduced new systems and controls and increased banking facilities to provide adequate working capital headroom.

"As a result, costs are being better controlled, margins are increasing, customer service is improving, but, the major impact of the changes that have been made will not be fully realised until fiscal year 2009," it said.

[aliandamanda] 25/2/2008 10:02

Market Cap £3.2m, losses £8.6m..work it out yourself, no hope, company worthless, this is finished imho.

[gac141] 25/2/2008 09:46

Ouch... What I suspected. Shareprice could take years to recover.

[gac141] 22/2/2008 11:48

Sorted now

[gac141] 20/2/2008 12:50

Premium Deal. I am an Corero shareholder intrigued to see what impact Ian Selby might have on Zenith. Shareprice is about as good.

Does make one question the business when they can't even get the website right-See Ian Selby's details under people and they still have ex FD Julie Rowlands

[andrbea] 15/2/2008 11:56

15/02/08 16:12 21.0 200,000 L 0.0 0.0 ? 0 0 0
14/02/08 16:12 21.5 200,000 O 20.0 22.0 Buy