Getting rid of loss making Orridge plus a predicted profit increase of 40odd percent. This business is just plain cheap. But outside of a bid I really don't see what will significantly juice the share price. |
Sorry yes you’re right. I did wonder as he’s very confident on them every time he speaks. |
Looks like buying to me, battlebus? |
Lord Lee selling. |
Good to get some additional cash in the bank rather than hold a stake in a loss making business. Although I have no ideo of the history and cost of the original stake.It's just nice to see these guys being proactive and actually doing something to try and juice the share price. Often feels like sleepy hollow. |
Don't think that's come as any surprise that the Chairman is going to take a permanent role.
As i said in one of my earlier posts above i think he should seriously consider actually buying some shares here especially given his comments today:
.... With a commitment to fostering growth, strategic evolution, and increasing stakeholder value, I look forward to contributing to the profitable growth and prosperity of the group and to ensuring our future achievements reflect the hard work and dedication of all involved."
A share purchase would at least back that up and give all of us shareholders some degree of confidence. Results next week then the directors have a chance.. |
A company going round and round in circles...
Edit - just to add to my above comment; imo the company is always endeavouring to make some progress of sorts whether that's trying to get the SISS division back-in to profitability or international expansion in their brokerage division but at the same time there appears to be always something pulling them back..
The industry is definitely cylical for sure hence going round in circles, and Christie group is always fighting this, but that said the company has grown over the years and is trying to grow albeit slowly.
From my point of view i do see value here but how or whether that will ever come through i have no idea. Always a possibility it could get taken-over but nobody has appeared yet over all these years and there appears no expression of interest from anyone in the industry or PE etc.. |
I see that our interim non-exec chairman Simon Herrick is happy to buy Ramsdons shares but for some reason appears to not care much about buying any Christie shares despite his important position and the apparent cheapness of this companies stock.. |
Did anyone go to the AGM? If so, was there any open/interesting discussion about e.g. tolerance for continuously lossmaking subsidiaries (SISS), egregious payoffs to former execs (case study for why not combine the CEO + Chair roles i.e. complete governance failure) or anything else? |
John Lee above 5%. I don't think I've seen him reach a notifiable holding before. |
Reduce-Dump out prices 138,158.5, 178
Decide as approach them and see market
Thats a hopeful range. Just have to hope what is seen, can take it there .
breaking circa 119 easily will be that upper range soon but hard to see it breaking further for a long while. be the upper end to a lot of selling
Anyway try tasking care of 106+ for a few hours first |
Cash v debt and loan repaid, hard to know if they require a cash call soon. Historic quarterly revenues may show if going to be required soon or not
Trade 106+ or above even for 2 or 3 hours, should see a good rise anyway. 30,49 or 69% there
Very very important to trade as above first though. Critical |
The results pretty much as expected then ie not very good. Now loss-making and cash right down only £0.6m.
Management changes and restructuring costs ie mostly getting rid of the last CEO cost a whopping £2.7m..
SISS division revenues up over 8% but still loss-making. They desperately need to address this urgently and at least look at measures to bring this division to break-even. That would help enormously.
Dividend slashed. Expected it would be.
Elimination of pension deficits is good news.
Forward outlook a bit more promising.. |
Results date set for end of month - 29th then.
I read that Lord Lee thinks this could be taken over with a possible take-out price of around 300p..
I do not know how he came to this figure but with sales of c. £69m it would only equate to a price to sales ratio of just over one which would be a very reasonable valuation.
I've long thought myself that a trade buyer (or private equity with a view to them themselves selling on to a trade buyer) might move on this but nothing has happened yet and there has been plenty of chances for that to have happened by now. Also i've no idea who might ever be interested.. |
Thanks. Got it now. It was published in the main edition on Wednesday last week so likely explains the smaller thurs/Fri rises.I like John Lee and I've done well from a couple of his tips but he's got a few turkeys on the books at the moment. Maybe they'll fly one day.For those without a subscription, you can view the article behind the payroll by typing "John Lee a year of takeovers" into Google and clicking on the top link. |
Noted by John Lee in FT Money this weekend. |
"Corpse twitch"....haha...like it.Nothing I've seen which explains the rise. Decent volume in it too. Too early for speculative buys ahead of results so I'm really not sure....Maybe the corpse will burst into life. |
Decent corpse-twitch from those lows, been a tip anywhere? |
I do think these are very undervalued but the next set of results won't look too good but they did say a couple of weeks ago that they have now turned a corner so we will have to wait and see i guess.. |
Yes. I like this company but sentiment seems weak with any negative announcement heavily sold into.Tempted to pick up more. I'm just not sure what the catalyst is to give the price a boost. April results obviously important.Very illiquid so the spread is normally pretty wicked. |
Agreed. Difficulty is figuring out whether that's justified.
A portfolio of CTG & others would likely do v well - proper microcaps. |
Certainly feels that way Lol..
I retain a small holding here myself. Looks like there are a few buys coming in today to mop up the sales. It doesn't take much in the way of selling to knock the price.
Companies like this are very much under the radar and ignored by the vast majority of investors. That's the main problem i feel. |
Does this only move in one direction?
Edit - averaged a few, not expecting fireworks but expecting them to look a lot different say a year from now. |
They today say that if transactions fall into the next FY then there is a chance they might make zero profit for this year.. |
A little while ago i came across this article by Richard Beddard:
Clearly the loss-making SISS division is problematic. It has been losing money since 2015. I dont know myself but it does look like technological disruption by other newer competitors is inflicting damage and the reason why it is struggling (as RB cites in his article).
This needs urgent addressing by the new CEO and management team. Whether the division can ever be bought back to profitability is a good question perhaps.. |
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