Ffi Share Discussion Threads

[stemis] 04/3/2019 10:07

The forecast EBITDA is just the forecast EBIT adding back around $2m of depreciation.

[w1ndjammer] 04/3/2019 10:04

not much stock changed hands Friday, just the 250k buy of any significance,

wonder what prompted the RNS on this particular morning.

WJ.

[depjoe] 04/3/2019 09:58

oh dear 21trader down again. Yet another failure to add to your long list of failures

[sunnybeachboy] 04/3/2019 09:46

Terrible RNS. Wide berth alert.Barge pole stock

[tsmith2] 04/3/2019 09:45

Where does the forecast ebitda come from? Revised brokers?

[tsmith2] 04/3/2019 09:42

Ps. I've sent David an email today reiterating much of what you've said.

[tsmith2] 04/3/2019 09:41

Some very valid point. But the value proposition is potentially HUGELY rewarding. I think we've the kitchen sink being thrown in today - clear the decks. Some of it is entirely out of their hands though, still creme de la creme in their industry.Sitting target?

[its the oxman] 04/3/2019 09:33

Yep massively oversold, business should be worth much more, but no one has any confidence here, market can stay irrational for a long time.

[tsmith2] 04/3/2019 09:30

bust?? Trough EBIT of say $9mn and net cash of around £7.5mnI'm sorely tempted to add. The valuation is ridiculous.at 15p it's just £24mn!!

[wanbissaka] 04/3/2019 09:29

They have been around a long time but their market has changed dramatically. Someone posted that they should look to set up a consultancy service to the likes of Netflix. That makes a lot of sense.
Unfortunately not much else does with FFI at the moment.

[wanbissaka] 04/3/2019 09:26

More likely to just delist.

[w1ndjammer] 04/3/2019 09:23

just reading the statement again, its hard to say whats happening, looks
like it was rushed out, certainly no leaks before hand. can`t make my mind up
whether to buy more. They have been around a long time, can`t see them going bust.

WJ.

[eentweedrie] 04/3/2019 09:08

what makes you think they will do a MBO?

[tsmith2] 04/3/2019 08:41

What are chances of a MBO at 25-30p. I had discounted it but think naked investor may well have a point..still think it's unlikely but certainly grown in odds.

[tsmith2] 04/3/2019 08:39

Now valued at £24mn, net cash £5-10mn, profitable, trough earnings £8mn.bonkers cheap. Admittedly, takes a bit of courage but reading the TU much of the miss is down purely to deferral.

[eentweedrie] 04/3/2019 08:25

who would have guessed a year ago that this is where it is now. It has / had so much potential! sure this slide cannot only be down to market factors - weak management has to be taken into account too.After selling out in the 60's (at a loss), I have been watching this and really hoping for some improvement its a great story. If the mngt are as good as some here seem to imply, then it is only a waiting game.It is going to be a very long wait though imo.

[the big fella] 04/3/2019 07:56

I have sold my last 70k pre market for 16p.

[tsmith2] 04/3/2019 07:56

Naked investor - how much of this is just deferral, reads as though quite a bit is because signing contracts etc on some meaty ones has been pushed into March and beyond (ie. FY2020) also Panda..

[nakedinvestor] 04/3/2019 07:50

Well, ‘face’ and ‘egg’ spring to mind. I’m clearly wrong. Either 1). The economic degradation of the core business is ‘truly’ worse than feared or 2). They’re trying to flush out minority shareholders with a weak trading statement before doing a buyout on the cheap and then possibly forward selling it.

Whatever it is, I no longer trust the management team.

My average buy-in is in the 30s so this is particularly bruising.

Sell.

[w1ndjammer] 04/3/2019 07:47

wtf is going on here, from 150 to 16P htf did these get listed...

WJ.

[tsmith2] 04/3/2019 07:35

FY2020 numbers will benefit from these delays and Panda roll out. So these are very much trough earnings.

[tsmith2] 04/3/2019 07:33

Quite a bit of the miss seems to be because closing some of the larger deals has slipped into CALENDER Q2 which is in first quarter of FY20 (year end is March).Would been good if they had provided a bit more granularityUsing $9mn that's £7mn ebit and 5 times EBIT/MV - way too cheap.

[eentweedrie] 04/3/2019 07:31

not good - sry all holders. Likely to open in the early teens now

[daz] 04/3/2019 07:28

Trading statement out today, doesn't read at all well. EBIT expected to be in the range of $7.5m to $11.5m, when they made $6m at the interim's. Some revenue has moved from Q1 to Q2.



It look like some people knew about the weak trading and that's why the share price has been weak.