Fulcrum Utility Services... Share Discussion Threads

[ivancampo] 11/10/2019 13:11

Added again this morning, without wishing to jinx it, looks to have stabilised and ready to regain some of recent losses. Still hopeful of director buys and increased institutional holdings to be announced soon.

[topvest] 10/10/2019 21:18

Yes, I've sold. Still watch with interest though. There is no law against that I believe!

[jl5006] 10/10/2019 17:09

Picture
We are not talking big bucks - £170k for CFO and £260k for CEO - tho MH has now gone.
Had hoped for a trading update as in previous years - but phps a bit of prudence - given previous and post financial controllers have left.
Share drop not good news - but what do u do when a large II wants to sell. MMs wont pay out 60p.
As always the PI suffers - but we know that.

[pictureframe] 09/10/2019 20:12

Just fed up with the likes of thomas cooks directors who expect the get paid for poor performance.

[jl5006] 09/10/2019 19:30

TV
You said you sold
Not a shareholder then?
Picture
Your rant - why?

[pictureframe] 09/10/2019 16:04

Would have thought it was bloody obvious!

will continue to ask major shareholders to engage with us in order that we can understand better the reasons for this outcome and the concerns of shareholders before we review the Remuneration Policy.

[pictureframe] 09/10/2019 16:03

Good about time directors are not rewarded for poor performance

[topvest] 08/10/2019 20:21

Yes, I'm a longer term holder. I never average down on losers, but I sometimes hold on to my losers too long. Fortunately, I have a lot more winners than losers and Fulcrum was a 4-bagger. It should have been a near 10-bagger though!

[davr0s] 08/10/2019 20:05

Yeah it's why I trend trade nowadays - keeps me out of those that keep going down for whatever reason

[topvest] 08/10/2019 19:49

Well done indeed. That's what I should have done!

[davr0s] 08/10/2019 17:42

Don't fight the trend - sold at 60 when price broke trend. It's only price that pays - the rest is noise imo and saves me a lot of stress

[topvest] 08/10/2019 17:29

Profits and cash going up not down.

[pictureframe] 08/10/2019 12:26

down again...what will stop the rot here.

[iceman82] 06/10/2019 16:17

ok thanks,

[topvest] 06/10/2019 12:19

It’s wrong. Net cash was about £4m.

[iceman82] 06/10/2019 07:37

advfn is showing that fcrm has 29.2 million of debt...... that cant be true , plese correct me if i am wrong

[topvest] 05/10/2019 20:11

You may be right. To be fair, with the benefit of hindsight the original policy of booking adoption of internally constructed pipelines as revenue was always a bit questionable. Booking through the other comprehensive income effectively as a valuation gain is so much better. It's not just the FD that should have spotted this, but as I said previously this is a very difficult area in utilities accounting so you can understand why it happened.

The much more significant issue for me is how they have not come clean on the massive FY20 downgrade, unless the broker forecast is wrong.

[jl5006] 05/10/2019 18:29

TV
As you know CFOs don't make the best CEOs.
No accountant would ever endorse buying a business because .............
I have said that I believe Harris saw through Harrisons blame Griffiths - when he (MH)should have been the one to ensure the upcoming IFRS was in place.
The pre AGM update should give me - as a shareholder - an idea of the future -
And the interim - wait and see.

[iceman82] 04/10/2019 21:18

down again today:( what is going on

[topvest] 04/10/2019 21:04

I may be back, but with the CEO sacked and no reasonable explanation of a £6.25m downgrade, I'm more happy to be out. In my view, it doesn't add up and they cannot afford the dividend and £20m+ of asset additions if the Group flips into losses. You should be asking yourself what have they told Cenkos (and not shareholders), which resulted in their broker cutting the current year profit by 59%!?
I will keep watching and may get back in, once the position is sorted out.

[jl5006] 04/10/2019 17:47

TV
The man that knew all about FCRM - and sold his final one third before his post @ 9.49.
Only sale was 5000 shares. Phps on NEX
Take 3rd party guess or wait to get the news from the source.
Criticizes the asset adoption which will double revenue in 4 years - costs going to BS as net +
Nobody knows it all.

[george stobbart] 01/10/2019 18:22

is this Ponzi still trading?

[topvest] 01/10/2019 18:14

If this was undervalued, Phil Holder and others would be buying. They are not. The fact that Cenkos issued a 1.5p EPS for the current year is indicative of a big problem. No explanation in the preliminary announcement deals with it. Activity levels are stable and the order book is moderately higher, so why cut the profit by £6.25m on the back of what has been said? It just doesn’t stack up unless the Cenkos estimate is erroneous. The dividend will have to be cut if they make no money in the current year and spend c£20m* on assets. Debt will be materially higher. Firing the CEO is not exactly a positive signal, as I’m sure Phil Holder would rather not have to work full time at his age.

*"We have forward visibility over both our internal gas and electrical sales orders and the utility assets we have contracted to acquire from external utility contractors (£18.7 million external spend committed as at 31 March 2019). "

[jl5006] 01/10/2019 17:23

Of course - MH was CFO before hazel Griffiths -that was before he became CEO.
HG carried the can but maybe it was seen that MH was equally culpable.
Now we havee another 3.5 million shares to be dealt with. maybe the 2x250k (c 16.15)are part of that disposal

[carpingtris] 01/10/2019 16:47

Not a bad day all things considered.