600 Share Discussion Threads

[cjohn] 12/9/2016 11:36

I've taken a look at ProPhotonix, where SIXH own some 20% from memory. They are actually making a profit and have a bullish outlook. Incredible.

[cjohn] 05/9/2016 14:49

You're right to say re-organisation has been the constant theme here.

Interestingly enough, they generated 3m+ cash from operations, prior to working capital changes. New investment ate up this cash: buying the last 20% of TYKMA and purchase of plant.

My guess is that going ahead working capital will stay about the same: increased sales balanced against more efficient supply chains. So if there isn't any further major restructuring or more acquisitions, debt should at last come down. (Post-year end they also realised 2m from the property sale.)

[fillipe] 02/9/2016 09:48

Today, 100k taken @ 9.2p, followed by a small lot @ 9.375p.

Best Level 2 ask is 9.50p....highest ask 10.50p.

looks good for a further uptick.

f

[rburtn] 01/9/2016 16:25

I think I've got it! The controlling minds of this business must be in the re-location business as a side - maybe it should be main - line. For as long as I can remember, 10 years, they have used some kind of re-organisation as reason for the absence of a profitable business and hope for the future. It never delivers! Not to the shareholders anyway, is there nothing to be done about it.

[my retirement fund] 01/9/2016 11:29

Little bit early to be buying. Although results sounded credible they were shocking and past performance has eroded credibility - how can one place any confidence in this?

Moreover why are the directors not buying ?

[cjohn] 01/9/2016 09:53

I've bought back in here at below 10p.

You're right that the results weren't impressive, Nick. But nor were they diaastrous. Basically, profit made has been eaten up - cash flow - on increasing working capital and various restructuring expenses. It may be that this is an eternal process, but my bet is that it won't be. If it isn't then the shares will look undervalued.

[nick rubens] 01/9/2016 09:36

Nothing impressive in the results today. Hard to find a reason to buy at the moment.

[monty1946] 31/8/2016 15:32

Still no results.I would not be surprised if there is going to be a delisting here with the three major shareholders offering 10p to others to exit.

[nick rubens] 18/8/2016 14:35

Results announcement

"The Board of the Company announces that it will publish its final results for the year ended 31 March 2016 in or before the start of the week commencing 29 August 2016."

I see a few buyers have ticked up the price ahead of results. Brave but slightly risky. I'll await the results and if the company isn't deteriorating then buy in, albeit have to pay more. If the results and outlook are worrying, then I won't be stuck in another AIM dog.

[nick rubens] 16/8/2016 13:41

Annual report supposed to be released July and it's now mid August.

[nick rubens] 27/7/2016 08:07

Annual report due anytime now and I'm not sure what to expect though one would hope the worst is in the SP, but is it?

[rburtn] 26/7/2016 16:44

I do indeed remember there being a divi, and receiving the payment. Just for information, the annual payment corresponded to 75% of the company's current market cap. That makes it a case of decimation of company value in 10 years. That's going some particularly after inflation is concerned.

[coolen] 21/7/2016 23:00

Agreed. Date of the latest dividend payment might serve to underline. Anyone here old enough to remember that date ?

[rburtn] 15/7/2016 14:08

At least with TNI one is getting a dividend - last time this company recognised the existence of shareholders was almost eleven years - yes more than a decade ago.

[kazoom] 12/7/2016 23:06

Sorry for the off-topic, but CJohn would greatly welcome your latest thoughts on TNI!

[cjohn] 04/7/2016 16:13

Kite Packaging is owned by its employees.

[rburtn] 04/7/2016 12:37

uh uh another property sale at book, does anyone know who owns Kite packaging?

[rburtn] 14/3/2016 10:53

With this share at these levels, you would think the managers in charge would be filling their boots with shares instead of displaying the miserable confidence in their labours which one has to infer. That leaves shareholders with some uncomfortable feelings about the controlling minds behind the dismal tale of consistent destruction of value. Who determined that a bid some three times higher than the current share price was inadequate only a year ago? Who blew a rarely available princely amount of cash buying a large shareholding in a company in negative equity. Who masterminded the sale of property at book rather than after a transparent valuation? I am trying to see a reason other than a case for the Old Bill in all this.

[fillipe] 17/2/2016 11:32

A fast issued new 15p tp from finncaP this morning...down from their previous 24p.
Any sight of 15p a long time off, I feel.

f

[gimeabreak] 17/2/2016 10:46

A bit of a shock these results and corresponding slump in the share price, however taking into account the general market conditions at the moment not to be so unexpected !-(

[rburtn] 17/2/2016 09:31

I just wonder whether it might repay a visit to investigate the beneficiaries of the largesse of sixh disposals. I think of a bid for the company priced in the mid 20's not so long ago, the disposal at book value of a property, the buy-out of interests in PPIX to no discernable benefit of either side and you must ask yourself what is going on. Where there is an asset strip, there must be a gainer. It really is an unfathomable catalogue of incompetence without some such explanation.

[pugugly] 17/2/2016 08:51

End of the road coming ? Trading update sounds very bad - Possibly one for a vulture fund if they can separate out the pension liabilities (imo)