1pm Share Discussion Threads

[wanttowin] 26/3/2020 22:18

Taken a few here today..a tentative buy and praying for an end to this filthy plague!

[owenski] 23/3/2020 17:37

Still suspect a perfect storm is brewing here with delinquent debts very likely to skyrocket. just my opnion.

[owenski] 16/3/2020 07:25

Lot of small and micro cap companies will go bust over this virus, glad I'm not holding this one.

[owenski] 14/3/2020 10:39

Not a good stock to hold imo, going to be a lot of financial difficulties for smaller companies over this C.virus. Likely rise in delinquent debts coming here.

[wanttowin] 04/2/2020 15:22

a miserable hold for me this one..

[davidosh] 18/1/2020 21:44

Acton.... If you have real concerns that you think are fixable due to your knowledge of the sector and other companies that you are invested in within it then surely it is better to challenge the directors and ask why they are not doing X, Y and Z to protect all of us as owners here?

[stevelauren23] 18/1/2020 14:30

I never understand why if people have a genuine concern over the performance of a business and thinks there is an underlying problem, why they don't sell them. Instead they come and share their concerns on a public forum. But obviously they never have an ulterior motive.

[acton road] 18/1/2020 14:21

I am a shareholder in 1pm and indeed other companies in the sector both listed and private.It is of no benefit to me to see the share price fall.
There is no intention to cause alarm but I have genuine concerns in that the increase in provisions and the deterioration in the performance of the business reflects an underlying problem.
I’m sure everyone has an opinion,as I have ,and if it provokes some debate then that is fine by me.

[davidosh] 17/1/2020 15:38

Acton......You stated

Bad debt provision increased yet again.How long can they keep tucking the bad debt away in the balance sheet by increasing the % provision?.This isn’t prudence.Its a sign that there are problems

It seems to me that you are trying to worry us even though numerous accountants here have corrected you. Are you an actual shareholder or looking to buy the shares at a cheaper level?

[gary1966] 17/1/2020 15:12

Acton,

As a fellow former accountant I can confirm that he is 100% correct and congratulate him on a clear and simple explanation.

Gary

[the oak tree] 17/1/2020 14:29

Otemple 3 is correct.

[otemple3] 17/1/2020 14:19

Up to you but I am a qualified accountant & FD with 20yrs experience

[acton road] 17/1/2020 14:15

I don’t think that’s correct.
The provision comes out of future income because it hasn’t been determined at the time.
Don’t forget a provision needs to be taken as each deal is written.
There is a separate charge to the p and l when bad debt is actually recognised.
The implication here is that it may be that any actual bad debt is deferred to sometime in the future.
Look at the last annual accounts for verification.

[otemple3] 17/1/2020 10:03

For simplicity, assume the provision is a single potential bad debt of £10. When the provision is made it is a hit to the p&l of £10. When the bad debt actually occurs the £10 charge also goes to the p&l but the provision is reversed resulting in no p&l impact at that point but overall a £10 hit. If however the bad debt does not occur the original provision is reversed and the p&l will increase by £10. Hope that makes sense

[acton road] 17/1/2020 09:06

I always thought the provisions were a p and l item but the only time actual bad debt is recognised is when there is no hope of recovery.It then hits the p and l.
This is stated in the full year end accounts.
The provisions are based on estimated credit losses but we have discussed this previously.
It’s interesting to note that in the results for the half year to November 18 the actual bad debt figures was disclosed but in the Nov 19 statement it is omitted.
Anyway,who cares how the business is actually performing when the dividend is increased?

[stevelauren23] 17/1/2020 07:59

The more the business a company does the bigger the bad debt provisions needs to be. Its just common sense that the more money you lend the more bad debt you'll have.

[kannerwas] 17/1/2020 07:38

I think bad debt provisions come off the profit - they are not 'tucked away' in the balance sheet.

[acton road] 16/1/2020 16:13

Business generation up
Gross profit down
Net profit down
Bad debt provision increased yet again.How long can they keep tucking the bad debt away in the balance sheet by increasing the % provision?.This isn’t prudence.Its a sign that there are problems

[stevelauren23] 16/1/2020 15:49

It would be interesting to see what people can buy. I can sell sell 75k in one go.

[stevelauren23] 16/1/2020 12:31

Hope no-one followed Costa tip yesterday 😂

[costax1654x] 15/1/2020 11:12

orm mcap 3 mil,cash 6 mil,no Debts!Plus Gold assets!Distressed Seller due to the sale of tungsten mine(clear our debts and we received 6 mil extra) need shareholders approval

[stevelauren23] 15/1/2020 08:41

I'm obviously not selling though 😂