Argentex Share Discussion Threads

[smithie6] 26/10/2023 09:02

"Further, client concentration has been maintained with 38% of revenue represented by the top twenty customers (H1 22 : 36%)."

....that infers a lot of risk....which should phps produce a lowish p/e

[smithie6] 26/10/2023 08:53

Btw
~200 clients left during the period, out of ~1400

Scary high % imo.

~300 new ones arrived.

If the company ever fails to keep a high level of new clients signing up then the high number leaving will be a "big" problem.

What is the company doing wrong/badly that so many leave ?

(& these are company/corporate clients; difficult/impossible to get them come back imo)

[smithie6] 26/10/2023 08:35

There will have to be more news from the company to tell the mkt what is going on, imo.

[smithie6] 26/10/2023 08:34

Anyone buying this today has got much strong nerves than me !!

Bargepole job imo at least until it is explained what is going on !

There are snippets of bad news in the last accounts, my guess is that that has ballooned & that there will be a phase of cost cutting, including various one off costs. Financial data for current fin. period surely going to be an unpleasant shock to the mkt, imo.

[yump] 26/10/2023 08:29

Given the interim earnings figure and the recent slowdown mentioned in interims, its not going to grow earnings much. So may well just sit on a low pe (10 ish?) for a while, which is around this level.

I wonder if the continuous dropping share price recently was a few in the know who knew about whatever rumblings were happening in the business.

[smithie6] 26/10/2023 08:28

Brummy_git
Taking a beating on this one today

...here is his last post about Argentex

(He surely ramps the shares quite hard in his interview with the exec. dirs; as he usually does)

"After today’s positive 1st half results & 'in line' FY'23 guidance - CEO Harry Adams, CFO Jo Stent & COO David Christie of #Argentex take me through the group's exciting growth trajectory.

"

[dr biotech] 26/10/2023 07:46

They need to issue some sort of trading update. Separate the figures from the person.

Either way he is a major shareholder who will presumably want to sell, so there will be an overhang for a while.

[adorling] 26/10/2023 07:37

……never a good sign “with immediate effect” usually indicates a gross misconduct offence. Let’s hope it’s not to do with the numbers?

[jdh1602] 26/10/2023 07:26

PIs have been buying, because Investor's Chronicle keep saying buy! Now it will definitely be Hold!

[74tom] 26/10/2023 07:15

Chickens coming home to roost here - no idea why you'd have bothered with AGFX when you've got Alpha & Equals to choose from, but then many PI's think cheap = more upside...

[topvest] 26/10/2023 07:14

Argentex (LON:AGFX) - bit of a shock announcement that Harry Adams has immediately left the business. A sign of trouble to come?....probably significantly increases the risk that the next RNS will be that revenues are below expectations! Forecasts were looking very difficult based on YTD trading anyway, particularly with the higher cost base.

The fact that both founders have now exited (as well as the Chairman) says it all really. Business model isn't really working - costs increasing much faster than revenues. Fortunately I exited, at a c10% loss, after losing confidence in management back in July.

It may be worth another look next year if Pacific Investments (Henry Beckwith), who are a major shareholder, are behind the strategy reset as they are quite good. That's what initially gave me the confidence to invest in AGFX.

[topvest] 26/10/2023 07:06

Harry Adams was the main reason I sold. The business model has obviously some unstuck. Not enough emphasis on technology and too many cold callers!

[ali47fish] 26/10/2023 07:05

why on earth no reason given- not a good omen

[manics] 26/10/2023 07:02

Mickey Mouse, this lot.

[solarno lopez] 26/10/2023 06:58

A bit like Cornerstone !

[miti 1000] 26/10/2023 06:25

Good riddance .He has been an absolute failure since ipo along with the other founder who was dumped as well.

[dr biotech] 26/10/2023 06:15

CEO and founder leaves immediately without a word of thanks. Replacement in place already…a bit odd to say the least

[dave2608] 25/10/2023 23:51

Cornerstone (CSFS) is the new kid on the block and it's doing very well.

[ali47fish] 24/10/2023 08:29

whai is cornerstone please

[solarno lopez] 24/10/2023 08:08

Good update from Cornerstone

[yump] 14/9/2023 22:43

I guess shareholders want an exciting profit growth trajectory and the BOD might value an exciting revenue growth trajectory more.

There’s been a lot of investment and its continuing. It will be a lot more interesting if there are signs of the investment accelerating profit growth, but that timing isn’t easy to figure out. Be nice to have a few clues.

[earwacks] 14/9/2023 14:56

Afx Eqals and Agfx all offer foreign exchange to businesses. Equals also offer solutions to banks. This is a big market and banks are almost useless at everything other than ripping off clients, which is why there is plenty of room for these three in particularly,Equals offers slightly different services , but they are essentially in the same game.

[melton john] 14/9/2023 09:46

Interesting point someone made regarding a comparison with EQLS - They are in competition with banks not EQLS

[professor x] 13/9/2023 20:27

Numbers picked up again in September. Decent entry price here if that continues.

[dr biotech] 13/9/2023 19:49

Its a "buy" in the IC