Ishs $ Sd Discussion Threads

[envirovision] 08/3/2010 15:01

by p&D do you mean painting and decorating?

[envirovision] 08/3/2010 13:54

Me to. The nature of the company means it is very "leaky" Regards the delays in orders and the unpaid work, shed loads of staff and customers, their wives, children, naibours, cats and dogs would have have all known about this long ago, hence the sell off since January.

The fact they appear to have gotten involved in a job where they were not protected from bankrupcy is particulary dire you have to question the management here.

They talk about huge cost savings being actioned in the update, but given we entered the worst recession since the WW2 over 2 years ago now, its a bit late to be talking about cost cuts!

Again you have to question management based on this stupid statement on its own.

I think the best cause of action is do nothing until management can
prove otherwise.

[stegrego] 08/3/2010 12:53

Nice P & D on here over the past 12 mths - hope no one bet the farm....

[vivgav] 08/3/2010 11:15

gradually creeping back up. What's the current market cap?

[dpeach] 08/3/2010 09:45

what happens if we don't have a 'W' and being the first client into admin then it's hardly on going problem. IMHO on the side of caution re the substantial improvement

[spec97] 08/3/2010 09:40

Seriously just look the share price chart for the last two years. Looks like a magnified FTSE. Very much inline with how the economy is doing, more so than other small companies. Since we are not in the rosiest of times right now, it only makes sense to be patient and wait until we see the economy improving. Right now is not the time.

[adam] 08/3/2010 09:36

looks cheap, but European customers and company guiding lower for next year too. My biggest concern and what is putting me off buying is that directors pay themselves such fat fees and own a fair number of shares. i have my suspicions that cheap MBO on the way. Are there enough other larger shareholders to prevent it?

[addict] 08/3/2010 09:31

ASDA George Matalan etc.etc.-their big clients are doing well.DYOR

[spec97] 08/3/2010 09:28

With a double dip recession around the corner, how many clients will go into admin? Why would anyone want to invest in a company that "does not expect to see a substantial improvement in market conditions in the next trading year."?

[dpeach] 08/3/2010 09:26

in full - so encouraged by current pipeline of activity,some delayed projects till next financial year, reduced costs and a defaulting retailer (which may get the money back from)


SDI Group plc
Trading Update

SDI Group plc (AIM: SDIG.L) which designs, builds and supports integrated
materials handling solutions for international retail, wholesale, fulfilment and
e-commerce distribution operations updates the market as follows.

The signing of new business continues to remain challenging as customers'
decision-making processes are delayed. Whilst the Group's project pipeline is
reasonably robust, the start of a number of projects have been delayed longer
than the Group expected and revenues and profits associated with these projects
will now be recognised in the next financial year, with a corresponding impact
on the results for this financial year. In response to this, the Group is
further reducing overhead costs before the year-end, which will result in some
one-off associated costs.

In addition, a major retail customer has recently entered administration and has
defaulted on payments on a completed project. Whilst negotiations continue, the
Group believes that it is prudent to write off the outstanding balance owed by
the customer. The Group has also encountered some non-recurring issues and,
following professional advice, has made provisions accordingly. The combined
cost of these matters is expected to be GBP1.1m, although the consequential cash
outflow is expected to be limited to GBP0.6m.

Although encouraged by its current pipeline of activity, the Group does not
expect to see a substantial improvement in market conditions in the next trading
year. Nevertheless, the actions which have been and are being taken will allow
the Group to enter the new financial year with a substantially reduced cost base
and the Group is well positioned to benefit from an improvement in market
conditions when they occur.

[dpeach] 08/3/2010 09:16

spec97 / blueball, what a croc of .....

turnover £54m with a possible write off of 0.6m due to client admin (which does not mean that moneys lost yet)
still managed to win several new contracts from the start of the year alone, just been honest and not being able to book certain projects against this years results.

[spec97] 08/3/2010 09:09

No overreaction whatsoever. In fact, no support until 2p. Looks bad medium and long term. But at least they were honest; "the Group believes that it is prudent to write off the outstanding balance owed by the [major] customer." and "the Group does not expect to see a substantial improvement in market conditions in the next trading year." Anyone who buys at these levels is catching a falling knife, full stop.

[blueball] 08/3/2010 09:07

Could easy fall to 1p in my opnion.

[dpeach] 08/3/2010 08:36

well on trades (plus,etc) seen definite 150000 bought, versus 30000 sold and a 350,000 @ 2.75p not sure if buy or sell (it's on plus) any ideas think could have been buy when share was 2.5 - 3p. 250,000 @ 3p looks like a buy too

[addict] 08/3/2010 08:35

CEO was buying at 7.5p recently.This sort of news was largely in the pre-fall share price I think.DYOR

[dpeach] 08/3/2010 08:32

what a stupid over reaction (I bet GS is in the buying mood though ;-)

[blackdown2] 08/3/2010 08:32

Probably will have to raise more equity. Existing shareholders won't end up with much. Get out while you still can.

[addict] 08/3/2010 08:28

Fall has to be over done imo,DYOR

[vivgav] 08/3/2010 08:25

With current market cap I suppose they could be an easy target now?

[warranty] 08/3/2010 08:01

Couldn't be much worse really but I suppose given the current conditions what can you expect? At least they still appear to be a going concern and if you are prepared to sit on the shares could actually be a storming buy in the mid to long term.

[summersun6] 08/3/2010 07:46

doesn't look good,

Rainmaker - what do you think