Fireangel Safety Technol... Share Discussion Threads

[harrogate] 26/1/2023 14:51

It is hard to argue against the negative view here and my 45% loss testifies to that but I think while too slow to act management have done ok with the hospital pass previous management threw them. I think with sterling at this level and growing sales, margin issues mainly sorted, and thus deal and the German development they are now a bit too cheap. Let's see if the directors think so. They have bought regularly in the past

[oldtimer169] 25/1/2023 10:32

Down close to 50% on the placing price so for any bid to be attractive would need to be a substantial premium to the current share price Given the potential it does look cheap at this level.DYOR

[sebass] 24/1/2023 16:05

We just need to be put out of our misery too many years of disappointment. We need a takeover

[yasx] 24/1/2023 15:57

Well, as pound strengthens, they go and hedge at 1.14.

Overall some progress but still too many excuses. It needs better management - the business has potential, they can't extract it.

[tiswas] 24/1/2023 08:27

yasx

Reading today's results I have to agree with you. With FA if something can go wrong then it goes wrong.

I still think there is a good company trying to get out and the only consolation is that the share price has not been clobbered on news for the first time in ages! Two positive broker notes out.

[harrogate] 13/12/2022 14:34

Of course they will have hedged 2023 at 1.15!! Sod's Law with these guys

[tiswas] 13/12/2022 14:30

Near the top of that 1.17-1.25 range now.

[tiswas] 22/11/2022 15:15

Yes, nearly 1.19 today so there is hope.

I have not really got a satisfactory answer as to why they were not hedged higher for this quarter and the Downing reviews of their funds performance says FA are NOW hedged, my emphasis. So what makes Downing think they were not hedged before.

I think that some of the smaller cap funds that are holders here have performed so badly this year that they would gladly steamroll FA in to a takeover, if they do not see the share price turning around pretty quick.

I am hoping that the next update is far more upbeat, but I have been saying that for far too long!

[the big fella] 11/11/2022 11:06

In JC's recent presentation he was talking about upgrades and he quoted "when rates were 1.17 - 1.25". We are now re-entering that range so slowly but surely things are starting to turn in our favour again. Fingers crossed.

[gnnmartin] 03/11/2022 12:51

Similar here. I bought at about 70p (IIRC) and failed to sell any at the high because I thought they were a very decent hold paying a good dividend. What stop me buying more (apart from lack of cash!): I could not understand the pivot from enthusiasm about the future and the mode of separation from the USA to being sued by the USA. I don't like being unable to understand what goes wrong, it might be my fault or it could be because I am not getting a straight story.

[harrogate] 03/11/2022 11:07

At this exchange rate with the dollar I doubt they can make very much money. All the hard work they have done has been cancelled out by the dollar strength. Now if they were owned by someone who had dollars that would be a different kettle of fish. Been a hard road and hard to believe I sold a few of these at over £3.50. And then kept buying all the way down to 10p. Not very smart

[tiswas] 03/11/2022 11:00

masurenguy

I see she mentions possible interest from US shareholder or possibly Techem.

I know that their portfolio is not doing too well this year and they have a 12% of fund holding in Real Good Food via loan notes that seems to be in trouble looking at the share price. I have also read elsewhere in their blurb that they worlk closely with management on matters such as exit routes.

It would not therefore surprise me at all to see them try and steer FA in to an early takeover to recoup some losses and I would imagine that other smallcap funds suffering similarly could easily be persuaded with a decent bid premium.

All imo but I can see this being stolen from us at a time when it MAY have just turned the corner.

[masurenguy] 02/11/2022 16:21

Judith Mackenzie from Downing Asset Management on FireAngel at circa 42 minutes in.

https://www.voxmarkets.co.uk/articles/vox-markets-fund-manager-series-judith-mackenzie-of-downing-asset-management-f6461eb/

[emperors tailor] 02/11/2022 16:07

This company should have an award for selling the sizzle for 20+ years whilst promising a never to materialise sausage to gullible shareholders whilst maintaining eye watering salaries, pensions and share options for the directors. That anyone would be hoodwinked and let them get away with it is shocking but full credit to them, they have. Their main competitor has market share and is highly profitable with £23M in the bank. The products are in a very competitive market fraught with the potential for recalls. I bought at £0.08 p when they dropped from £3.57 and sold straight after for a quick profit but I would not buy now for £0.01. Too risky at any price;earlier comments show that some investors are seeing the light.

[the big fella] 04/10/2022 17:11

I have let the dust settle before posting. The first thing to note is they seem to be unable to read a basic FX chart. How on earth have we ended up with a blended rate of 1.15 for q4 when we were hedging at 1.38/1.40 earlier in the year is beyond me. I agree this is basically a currency play. In JCs presentation he was talking about upgrades at 1.17/1.25 very recently. So a return to somewhere near 1.20 will be ok.
I have called this badly wrong so far and at my paper cost. They never seem to get a break with something derailing them just when it looks like they have turned a corner. There are clear signs of underlying business improvements, and given the potential sales from Techem which aren’t that far away there is always hope. But they sure test the patience. Maybe their ducks will all fall in a row in 2025 with the 10 French renewal cycle. Who knows but they need a break.

[harrogate] 30/9/2022 12:11

Yes they have been stuffed by the exchange rate here which has wiped out all the pretty impressive margin improvements they have worked on. In a way this is a currency play now. Can't see how they can make money at this GBP level but if we get back to 1.25 when the FED stop raising and dollar reverses they will get very interesting. Don't seem to be stressed although continue to not supply all the demand thru have.

[microscope] 27/9/2022 12:25

When I read the last update I added this to my watchlist as there seemed to be real green shoots. But yet again external factors are biting them on the bum.

There's actually lots of underlying decent stuff going on which as others of you have said makes it all the more frustrating.

Debt lower than expected, revenues higher, expecting to be cash generative going forward, and strong product demand. Techem possibilities, revenues best since 2017.

But firstly PPV has hit hard, and now it's inflation and the currency mix going from bad to worse.

I couldn't possibly invest in the current climate, particularly with ebitda forecast to be well below expectations.

They've cash of 0.7 million, cash generative going forward, and 4.1 million of debt drawdown available. But whether that or a fundraising would be the better choice is debatable, particularly should cashflow become tight, as it well might.

Fingers crossed for them, and for holders, especially long term ones.

You deserve a break!

[sebass] 27/9/2022 09:36

It's infuriating to be invested here every update is always negative. I am still holding as there might be some value in partnership with Tenchem but I wish they would put themselves up for sale.

[kor_wraith] 27/9/2022 09:27

Gotta love the adjusted gross margin malarkey showing that if you ignore their increased costs they actually did very well...

[pictureframe] 27/9/2022 07:15

about time they had another name change, rinse and repeat.

[masurenguy] 27/9/2022 06:53

Interim Results

https://www.investegate.co.uk/fireangel-safetytech--fa.-/rns/interim-results/202209270700127194A/

[gnnmartin] 13/8/2022 15:29

I'm intrigued by that LSE report (I've seen similar in the past). Why is the transaction marked 'unknown' rather than 'sale'? What do they use apart from price and spread to determine whether a transaction is buy, sell, or unknown?