Ncc Share Discussion Threads

[mazarin] 22/7/2017 08:24

And is now subject of following Press Comment, for details, see:-

[mazarin] 21/7/2017 10:43

Appears to have gained some traction today

[seans66] 20/7/2017 18:22

Watched the video presentation last night & felt the chairman & cfo did a great job for 2 relative newcomers. Honest & very detail focused. They certainly steadied the ship, & hopefully the next CEO can take the company to the next level. At some point this will get taken out - I would be happy with £6-£7!!

[mazarin] 20/7/2017 07:46

Tudes thanks for your reference to latest Bloomberg article -

[hedley2] 20/7/2017 07:25

Feeling a lot more comfortable about my investment having watched the "youtube" presentation. You have to wonder about the previous management and the lack of checks and balances to say nothing of the external audits, who is asking the questions? If we can now find the right CEO to take the company forward, that would complete the picture for recovery.

[tudes100] 20/7/2017 05:13

www.bloomberg.com/news/articles/2017-07-19/cyberattack-on-medical-software-exposes-industry-s-vulnerability?cmpid=socialflow-twitter-business&utm_content=business&utm_campaign=socialflow-organic&utm_source=twitter&utm_medium=social

[mazarin] 19/7/2017 16:32

I thought exactly the same and recall the so-called 'experts' were more than happy to peddle their recommendations that led up to shareholders being asked finance the purchase of FoxIT by a 'placing' of £2.75 on 24/11/15. Now it emerges that these 'Experts' were completely unaware or simply failed to notice that (so called) orders for work by NCC staff and services were deployed, but not confirmed, work commenced and invoices not produced. It defies imagination and is not surprising to discover that transient NCC customers were later disinclined to pay up. I bet they couldn't have believed their luck. And even more unbelievable to discover how a 'high-tech' Company did not the wit to have got its basic paperwork right..

[sharw] 19/7/2017 16:22

I agree with mazarin and ilovefrogs - the problems were not financial distress or poor markets but management that had once been good at growing a small company failing to meet the task of strengthening the internal controls of a larger one - but that is fixable.

What annoys me is the amount of money paid over the years to auditors who failed to spot such basics as invalid dividend declarations or holiday pay provision.

[ilovefrogs] 19/7/2017 15:54

Mazarin - spot on. the key here is that management mistakes and poor internal processes can be fixed. Structural deteriorations in markets can't. For me, it's definitely a case of the former, with the end markets still growing. As importantly, current management has a clear strategy to fix it as well. this genuinely has the ingredients for a sustained recovery story now.

[mazarin] 19/7/2017 15:14

Having just spent 85 mins watching the YT Results presentation I now have a much clearer picture of what's been going on (or not going on) since I first bought into NCC, but more importantly see where its now headed. In short the new BoD's declared drive to improve Gross margins and implement tighter Cash Controls for improvement to be apparent over a 2 year program were outlined. I'd strongly urge any serious NCC investor to watch it (in full) and I have included a link in the Header.

I'm quite impressed by the 'nuts and bolts' approach of both Chris Stone and Brian Tenner and their clear determination to put NCC back on track. As long term shareholders we appear to have been seriously let down by the previous BoD for failing to tackle or properly address boring, basic management practices essential for controlling a growing and successful business.

[rivaldo] 19/7/2017 14:34

Everywhere am I PI.....:o)) (to be read in a Yoda-like voice!).

Been here a long time - enjoyed the ride up, got stung by the warnings, topped up near the bottom, now doing very nicely! Hope you are too.

[panic investor] 19/7/2017 14:18

Didn't know you were here Rivaldo !

[rivaldo] 19/7/2017 14:17

Excellent - I calculate that's around £460,000 of shares purchased by the Board. A substantial vote of confidence:



Thx for the presentation gsb - pretty damning re the previous management. Looks like a much tighter hand on the tiller now.

[ilovefrogs] 19/7/2017 14:02

Indeed, thanks gsb! Very interesting!

[jerseyman1] 19/7/2017 13:52

Good to see coordinated buying by BOD yesterday. Public demonstration of confidence

[mazarin] 19/7/2017 12:11

Thanks gsbm, nice summary I'll check it out.

[gsbmba99] 19/7/2017 12:05

Full year results presentation ( well worth watching. Hard to avoid conclusion that almost all of the issues of 16/17 were self inflicted. Organisation had long since outgrown it's initial structure; many business basics never implemented. Various gems throughout the presentation: no annual performance reviews (some units did but kept it quiet from CEO), often started work without a purchase order which created delays when NCC sought payment since work never "authorised" by the client with a PO, work completed for and signed off by client invoiced only once per month leading to build up of accrued revenue, measured utilisation but not realisation so didn't have clear view of what proportion of consultant time was being billed to clients as opposed to internally, did not consult with Dutch government which resulted in shut down of NL government activity when NL discovered Fox had new UK ultimate parent. Chairman seems pretty confident business capable of growing at attractive rates with better margins and cash conversion in medium to long-term.

[toyin] 18/7/2017 18:18

A2584728

Of course you are.

All the best

[a2584728] 18/7/2017 16:18

I have to agree but I am a holder from 88p I have to admit I added a few this morning and am looking for 220p soon

[mazarin] 18/7/2017 15:58

Already started, Motley Fool today conclude NCC to be a better "buy' than CLLN for recovery play, see the following link for details:

[a2584728] 18/7/2017 15:44

Would be nice to see some positive press tomorrow as well

[mazarin] 18/7/2017 15:15

I agree largely with the above comments and suspect that today's sellers were short term punters, speculatively buying ahead in the hope of a 'positive take' by the market on release of today's news. I reckon we'll soon be getting rather more 'considered' comments from Analysts, once they have had the opportunity to sift through and digest the content of today's Results and scope of the Review. Of one thing I am certain and that is, 'a problem is unlikely to be resolved unless and until it has been recognised as such' and only then can effective steps be taken to fix it. In this respect the current BoD of NCC appear to have made a bold move by facing up to the 'gremlins'. Now, we as investors need to see evidence of the next step and see it translating into new Contracts and sustainable revenue.

[rivaldo] 18/7/2017 11:16

Peel Hunt retain their Buy and 245p target: