Blancco Technology Share Discussion Threads

[cerrito] 07/11/2017 07:33

First reading could have been worse.
Can anyone find the Going Concern Statement?
Surprised at comment that audit not yet completed.
Good that headroom on banking covenants.
Perhaps see you all on December 19 AGM when perhaps news of new CEO.

[terryfide] 06/11/2017 10:39

Still feel Hanover caused all of the problems with this company. There was no reason to do the £50m share buyback that left the company with no cash except that the Chairman and CFO pocketed £14m and then both left to work for Hanover. They put in the useless CEO. Ridiculous its taken so long to get the numbers out. What have they found?

[mfhmfh] 03/11/2017 17:22

results on Tuesday 7th November

[teresagreen1] 01/11/2017 10:36

Results now a month overdue. CFO been in the job since March. Doing himself no favours here taking so long to unravel his own numbers. I still think there is a solid company in here somewhere. Not sure if there is any organic growth though as its been run so badly.

[cerrito] 25/10/2017 09:52

I am getting unnerved by the delay in the results and the miscalculation of the FD as to the extent of getting up the drains they had to do...not so unnerved that I am selling but sufficiently unnerved not to buy.

[ilovefrogs] 17/10/2017 16:13

Yep - farcical situation. That said, I just can't bring myself to sell. I still believe the product they sell has great potential, and also note that the Company is still profitable and growing revenues. I do worry that the bad publicity will ultimately put potential clients off, which means things could get really nasty, but on balance, whilst I won't be buying more, I am going to stick with what I have. GLA (we might need it!!).

[terryfide] 17/10/2017 15:56

Apparently the CEO was caught faking sales contracts with the Sales Director to hit the year end numbers. That's the £2.9m that was reversed. That probably explains the bad debts write off from the previous year end too.

[teresagreen1] 17/10/2017 15:47

Interim CFO/CEP Simon Herrick was fired from Debenhams for ‘over optimistic financial guidance’, and hasn’t worked since – and he’s being trusted with sorting out the guidance for Blancco. Hardly reassuring. I guess he is the only one that would touch this.

This is from the Telegraph article in 2014: ‘Debenhams finance boss quits days after major profit warning. Simon Herrick pays price for over-optimistic financial guidance, after repeated cuts to forecasts. Mr Herrick has been criticised for over-optimistic guidance and poor communication to the City, and several shareholders had expressed their annoyance to Debenhams chairman Nigel Northridge.’

[cerrito] 13/10/2017 22:50

Good to see such buying which I guess accounts for the activity on Tuesday although I do not know if Forager went from zero to 2.8m or had a previous holding of just under 3%.
Would be nice to think it will cause an uptick in the sp; that said the longer the wait for the interims the more one frets about the number of accounting issues that there are.

[mfhmfh] 10/10/2017 14:27

big volumes today for BLTG

[pj 1] 03/10/2017 12:04

strange1-I'd agree. Perfectly feasible that the Company are still being too aggressive and the auditors have refused to sign off.

I still would not trust the Company as far as I can throw it.

[strange1] 03/10/2017 11:53

Presumably, announcing a delay so close to the date indicates that the auditors would not sign off. This is going to end badly.......

[cerrito] 02/10/2017 20:36

I note that the July 6 update did not give a cash position but given that they raised £9.45 net of expenses in May their cash position is I assume relatively comfortable

[cerrito] 02/10/2017 20:30

While a relatively new holder, I have read this wrong.
I need to say that good that they are taking the drains up and given that they have until the end of the year to file the accounts no great problem if they take their time. What I do find disturbing and can understand the further drop today in the share price is that the CFO misread the situation and committed to a date.
I see that till now the major shareholders have been patient and wonder if this will be the straw that breaks the camel’s back.

[alamaison5] 02/10/2017 10:31

Suspension is coming, I guess...

[pj 1] 02/10/2017 08:07

PJ 1
4 Sep '17 - 13:40 - 468 of 483    1   1   Edit
Well good luck. I think your insane to keep averaging down. Wait for the kitchen sink to be thrown out in a few months by a new CEO. And even then I don't think it would be for me.

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Share price when the above was posted 76p less than a month ago.

Now minus 32% to that post, I'd still urge investors not to average down, there is something seriously not right here imo. Trading maybe different, but that's not for me.

[chasbas] 02/10/2017 07:48

Blancco Technology Group plc announces that, because of the ongoing review of matters notified to the market on 6 July and 4 September 2017, it has become necessary to delay the release of its preliminary results for the year ended 30 June 2017, which were due to be announced on 3 October 2017. As soon as this review has concluded the Company will be in a position to publish its results.

[cerrito] 17/9/2017 19:33

I had rather assumed that Holton had gone along with Clawson and I guess we look forward to hearing on Oct 3 who is generating new business

[chasbas] 14/9/2017 16:41

Finncap published 1 page with reduced forecasts. See Research Tree. Likely that Steve Holton (Chief Revenue Officer) has also departed.
I have no idea whether this remains a basket case or the CEO is doing a real "kitchen sink" job before results on 3rd Oct.

[chasbas] 14/9/2017 16:11

This is all there is:

Blancco Technology (BLTG): Cash or growth – choose one (SELL)
After two profit warnings, we remain negative on Blancco and reiterate our Sell recommendation, with a new target price of
25p.
Analyst: Harold Evans

[pj 1] 14/9/2017 15:59

Did anyone receive it? I certainly didn't!!!

[supernumerary] 14/9/2017 15:34

Seems like only yesterday they were giving away a quid a share to all-comers...

[fillipe] 14/9/2017 13:50

Today, finnCap reiterate SELL and 25p tp, I regret to see.

f