Argentex Share Discussion Threads

[zebbo] 17/4/2024 19:42

Hmmmm, he only sold down c700k still holding a round 5M. I reckon its end of year squaring the books. Looks like a few have been spooked

[ali47fish] 17/4/2024 09:55

74 where have you seen this - please give link if poosible

[74tom] 17/4/2024 09:12

Very unusual to see Harwood selling after only holding for 2 months...

[hamid1970] 02/4/2024 20:44

Yeah, looks like any positive news and this could bounce strongly.
More than happy to hold these bad boys. Balance sheet many a company would be ecstatic to have.
Have to agree Zebo, looks mispriced in the market

[doctor888] 28/3/2024 15:35

added at 52 and 54 - slow burner...

[zebbo] 28/3/2024 12:58

Bought another 100k today, looking mis priced and will continue to add

[tole] 08/3/2024 06:44

https://citywire.com/funds-insider/news/expert-view-lse-argentex-brooks-macdonald-elementis-grafton/Argentex has hit a rough patch, says Downing's McCathieCurrency services group Argentex (AGFX) may have hit a tough patch for trading but Downing manager Josh McCathie says it has made 'significant investment' in the business.McCathie holds the currency management and payment solutions provider in his £37m VT Downing Small and Mid-Cap Income fund. He noted the company announced in November that 'it expected to report revenue and operating profit at similar levels to the year prior'.However, the shares are down 40% this year as management updated their outlook for the worst.'The board now expects revenues to be down by 1.2% and operating profit down 29%,' said McCathie.He noted that the 'business has made significant investment in people, technology, and overseas expansion during a challenging period for markets' and this has led to it incurring 'some costs not previously anticipated.'The shares gained 1.3% to 54.7p yesterday, but have lost 59% over the past year.

[ali47fish] 23/2/2024 17:29

rockwood adding again c 1pc to holdings

[ali47fish] 14/2/2024 07:36

is rockwood adding today see rns

[awashwi] 01/2/2024 12:53

Rockwood were invested last year and it is discussed on VOX Markets interview in november .

- 18.15 mins in

Gives a decent summary of the reasons behind board changes and they added to their position last year around these levels also .

I have taken a small position but would like to see the strategic review in april before increasing .

[carcosa] 01/2/2024 11:07

Seems like Rockwood/Mills had their eye on AGFX for a while and had an initial stake in Q1 last year.

hxxps://d1bcjbyi5yiron.cloudfront.net/app/uploads/2024/01/Presentation-Q4-2023.pdf (page 17 & 18)

[mr roper] 01/2/2024 10:25

Stakebuilding. Staveley is a very active investor. Only have to look at his involvement in the turnaround at Pressure Tech. Suspect he'll be taking a closer interest here shortly

[ali47fish] 01/2/2024 07:29

1 feb 24
Rocwood strategic invests c 3pc- are they not already invested

[hamid1970] 30/1/2024 22:26

Over reaction. Those that wait for clarity risk missing out on must be an expected bounce.

[dr biotech] 30/1/2024 16:54

I’m wondering whether there is a substantial payment to the former CEO as an unseen cost. Guess they would have mentioned if it was as a non recurring.

[qs99] 30/1/2024 16:01

interesting, but still in the "watching" bracket I reckon.

Senior Execs left with "immediate" effect last year, DYOR, new "Interim" CFO appointed, will he do a full review & throw the kitchen sink at it? Does that mean more conservative forecasts and more exceptional one-offs in next 6 months?

DYOR on all, but I'm cautious and watching rather then jumping in as H2 looks like it has slowed significantly.

GLA

[hatfullofsky] 30/1/2024 13:53

MCAP £64m at 56p / AGFX Cash is +£19m (cash generative), Client cash £13m. (Which they make perfectly clear in the interims), Op profit >£8m

Revenue
to 30/06/23 £25m / 6 months / £4.17m per month
to 05/09/23 £35m / £10m in 3 months / £3.33m per month
to 31/12/23 £50m / £15m in 4 months / £3.75m per month

HY Op Profit £5.2m converted to PBT £4.8m

Total over reaction, I expect a bounce of 55p over then next few trading sessions

[nick rubens] 30/1/2024 11:20

£8m 'operating' profit? Not pre tax? I still think it will get worse as the situation evolves or the full figures are shown in the upcoming results.

[smithie6] 30/1/2024 10:25

So, in Nov. '23 the company expected profit for '23 of £11m

But just weeks later they say it will be £8m !!

Does not infer confidence in the execs.

[ali47fish] 30/1/2024 09:14

pire what 's that please

[74tom] 30/1/2024 09:13

Yep, the first red flag with this company was their presentation of cash without making it abundantly clear that a significant chunk belonged to customers. The second was the way they cherry picked KPI's.

[pireric] 30/1/2024 08:23

Need to net off the money that is not theirs, so net cash was £19m at the half year stage

Eric

[dr biotech] 30/1/2024 08:16

It has £30m cash, so 50m for a company making c5.5m a year isn’t terrible. New board has it all to prove though.

[74tom] 30/1/2024 07:52

Operating profit of £2.8m for H2...horrible vs the still £80m market cap.