Fih Share Discussion Threads

[simonevans] 02/7/2002 21:56

Dead fish....it is now. I have been watching this one...quite a spectacular collapse due to over-expansion. Very much a case of good restaurants....too expensive....wrong locations. Their Solihull restaurant never has a few more than a couple of people in it and must have lost a stack. I am surprised that there are no comments today...I don't own shares and I found this one interesting!

[jennie8] 24/5/2002 13:42

dead fish floating sell

[quickmind] 22/5/2002 20:19

Salpara111, Many thanks for the infomation.

[salpara111] 21/5/2002 10:18

Spoke to my friend yesterday, unfortunately he is leaving the company shortly to work for another very well known london restauranteur. He had planned his move before the latest debacle so is not bothered either way.
Bottom line appears to be that about 40% of outlets are currently loss making.
Some of these can probably be turned around but it leaves the spectre of possibly 4 outlets having to be closed. Any exceptionals surrounding that level of closures would ensure that even if trading picked up well in the next 6 months, that the group would remain in a net loss position for the next 12 months.
As a result I will just leave good old FIH on my watch list, just in case there are some abnormal director trades which might signal the potential of the group going private.
Otherwise I stand on my initial prognosis.
The group will survive but there are many better places for your money for the next 6 months until the air has cleared and the group has announced its restructuring and more solid trading conditions. Not that I dont trust their upbeat trading statements....Ha!

[silvester1] 21/5/2002 10:17

Why won't the directors buy a few pounds of Fish? That would show us they still have some confidence in the company.

[salpara111] 21/5/2002 00:51

I still think that FISH is a quality product but it has become the classic case of overenthusiasm over the last couple of years which has led to overexpansion. The problem now is that they know that they have some underperforming units and it will be very costly to close them down.
I dont expect the group to fail but at the same time, if they have to trade and rationalise themselves out of their current predicament then it is realistic to expect that it will take at least a year to do so.
Therefor the question is, do you have somewhere better to put your money for the next 6 months or so until there is a clearer picture going forward.
Having said that, if I see some meaningful director buys in the near future I will have another closer look.

[royalexile] 21/5/2002 00:14

being as we are waiting for this 2 find it's true value, has any1 any views on AQG - up 12% this morning - doesn't appear to need much volume to lift it?

[silvester1] 20/5/2002 14:04

let's get fishing now

[balcony] 20/5/2002 10:24

salpara thanks for your info going to wait and see for now, i did notice ft said could be a winner if all there plans work out

[wyorke] 19/5/2002 20:34

" Fish " is not .Com or Tel company, net gearin =90%, net asset = 76 P.
share price my be go down, but if you buy at 30P price, hold on,
you will be winner.
when I buy shares,if net asset volue > share price and net gearing less 100%,
hold-on, one day willbe winner, but if you buy TMT shares,when bad news out,
share price downside, never will be up! because they have big debt(high gears)
for ex:TWT,ENG,MONI......
thanks.

[jennie8] 18/5/2002 17:52

if you invest in this you deserve a large hook in the mouth..//.

[salpara111] 18/5/2002 17:05

If I remember rightly its on the Queenstown road. Having said that its been some time since I was there and I heard talk that they were turning it into a training academy or something like that so I dont know if it is still open to the public but I would have thought that they would still try and make some money out of it. Another problem is that despite the fact that it has the usual ground to ceiling windows with the "fish" logo on them it is very easy to just drive past without seeing it. As you head south on the queenstown road it certainly was on the right hand side.

[quickmind] 18/5/2002 15:28

Salpara111, where is the Battersea branch, on which road? Thanks.

[ziko] 18/5/2002 00:34

you should read the company news more often to find out the reason for the slide the fish is getting very smelly

[silvester1] 17/5/2002 21:22

In fact, I am only joking. I bought in today at 28.5 because I believe the company has been oversold. I am not sure if the directors are going to buy too!

[mitzis] 17/5/2002 20:57

It looks like an extremely ill fish to me.. should it be that colour..to be eaten at your peril..I would change the supplier if I was you..

[silvester1] 17/5/2002 20:50

My daughter does not believe that this company called FISH plc really owns fish restaurants. I suppose anyone with any imagination would have thought of a better name eg. Sweaty Betty's corner chippy plc

[silvester1] 17/5/2002 20:50

The shares will probably be frying tonight.You could get your fingers burned or even snappered off. Get your skates on after the weekend and find another plaice for your money. It's no use carping on about this fish stock. Find another deal and fillet. After all you must keep body and sole together.

[4d] 17/5/2002 11:47

Zero credibility - If management release false info though RNS theres pretty much nothing you can do.

Liked these a lot since the last trading statement - Luckily didn't buy but i'm sure some did - Total disgrace.

[mali7] 17/5/2002 11:44

Management fiasco

See AGM statement then profit warning, completly changed, AVOID until review!!!

[salpara111] 17/5/2002 10:37

In response to balcony.

Answer the following question.
Q. What will drive the stock price up?
A. Some good news/good results or major director purchasing.

Well we know the results are going to be bad so that is one of the three answers.
I would say that the balance of probability is that we are not going to see any "good news" in the near future.
As far as major director purchases goes, well no one knows the answer to that until it appears as on the RNS.

The compay have announced a "major review" of their business which could possibly lead to closures and the associated exceptionals.
I personally cannot see any reason to buy until the business review and the final results have come out. There are just too many unanswered questions until that point in time. The company carries reasonably heavy gearing so that is worth keeping an eye on as well.
The only thing which MIGHT persuade you to buy would be the probability of the group announcing that it was going to go private at a premium to the current price.
I, for one will be doing nothing until.
1. I have had dinner with my friend
2. The results of the business review are out.
3. The final financials for the y/e are out.

I may well miss the boat but we can only go on our own risk/reward profile.

[kiscokid] 17/5/2002 10:01

Nice insight - I don't head into London often - so it's good to get a bit of inside knowledge. My local Fish restaurant in Marlow appears to be doing very poor business. I often drive past it late in the evening and it looks uninviting as it is so large and empty. They also bought the site in the wrong place - on a tight busy road just off the high street. My point is - if all the other suburban outlets are struggling like this one - the immediate future looks bleak.
Funnily enough I held shares in Gauch Grill at 38p and sold out at 30p. t would appear that the restaurant industry is not for me, nor the market.