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Share Name Share Symbol Market Type Share ISIN Share Description
Nmcn Plc LSE:NMCN London Ordinary Share GB0006452857 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 250.00 240.00 260.00 250.00 250.00 250.00 3,344 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 404.7 7.4 57.4 4.4 26

Nmcn Share Discussion Threads

Showing 501 to 524 of 525 messages
Chat Pages: 21  20  19  18  17  16  15  14  13  12  11  10  Older
DateSubjectAuthorDiscuss
09/4/2021
09:41
It doesn't look good. Someone erected a large banner outside head office stating "NMCN DO NOT PAY THEIR SUBCONTRACTORS" seems like the 12.5 million overdraft hasn't even touched the sides.
jwball
22/3/2021
09:09
The rise in share price shortly after the news it has found another £5m of losses is irrational. We are left with two thoughts: 1. someone knows something as suggested by Kinwah. Only the buyers aren't the directors so that makes me cautious over that. 2. it's just people chucking money at the market and looking for anything that has pulled back as a bargain. If the economy picks up that will help NMCN and everyone else for sure. It's my view buying this share is taking a bit of a punt. I used to be very optimistic about it's future as the water work was it's largest part and although the margin on it was low, they were steadily expanding and never had a problem job. Until last year which now makes me wonder about their ability to manage anything and everything. Who knows. Good luck to all holders.
cc2014
22/3/2021
08:58
Squeamish one would think a rights issue/placing was about to happen if nmcn was a normal company but it isn't. It is still family controlled and the family hasn't got the money to take up a rights issue. Therefore alternative scenarios which don't need an injection of non-existent family money are more likely. If I had to guess - possibilities include a merger, an injection of venture capital money, a takeover, a sale of the water business, going private with venture capital money. Looking at the disastrous financial performance it is at odds with the rise in the share price so somebody must think they know something!
kinwah
17/3/2021
22:49
Sold out today and thankful for the slight recovery. GLA any holders out there but feels like dilution is coming.
squeamish1
23/2/2021
16:17
mmmmm....fortunately sold out some time ago but amazed the share price still has 3 digits...must be going sub 100
jaf111
23/2/2021
15:18
A £22m full year loss erodes their entire equity base. Medium-term financing on the way, mortgaging their property work in progress - that's not cheap borrowing. And long-term financing now being mentioned for the first time - that can only mean a deeply-discounted rights issue. Makes sense for the new CEO/CFO to start their tenure raising a load of equity capital, so their targets and LTIPs for the next 5 years can be on a post-dilution EPS basis. What a state Homer got this company into.
squeamish1
23/2/2021
14:53
Astonishing.
cc2014
23/2/2021
14:36
What's another £5m loss between friends.
squeamish1
03/2/2021
11:50
Just popping in. Another not very good RNS. What a mess.
cc2014
05/1/2021
11:44
Is that not fraud? Taking money out of a public company when it's not really there?
jwball
23/12/2020
10:25
Retained earnings of £18m at YE 2019. Loss of £16.5m in 2020. So essentially this company has never been profitable, and previous reported profits were lies. Apparently shareholders just have to hope that it will be genuinely profitable in the future, and maybe get a dividend in 2022 for their troubles. I wait with electric anticipation for the announcement that they'll be clawing back the £5.2m performance pay given to the board in 2018 and 2019. Clearly, the performance was make-believe, but the bonuses were real.
squeamish1
23/12/2020
09:42
How poorly managed can a company be to not notice they've lost another £1.5 million?
jwball
23/12/2020
09:27
"2020 has unquestionably been a difficult year for the Group" I'd say. And the prior years which were dressed up presumably.
kemche
23/12/2020
08:38
What a mess.
cc2014
19/10/2020
15:12
I've taken a 50% loss and moved on after thinking about this share over the weekend. Too many unknowns for me, and we know results are going to be terrible. Topped up my GSK and Aviva holdings whilst they look cheap.
igoe104
19/10/2020
11:57
I am at a loss to understand who is buying this share at 200p A loss of £13.5m wipes out the last 2 years profits but more concerning to me would be it suggests they have no clue from their management accounts what their real profit position has been for some time. So, who can guess what underlying profits or losses they have in the work they are currently undertaking. My guess would be not very much. At best they revert back to making a couple of million a year. At worse they've got jobs they are currently working on which have no profit or losses. Even in the best case 200p looks looks pretty racy to me.
cc2014
16/10/2020
16:01
NEW Note Out. shorturl.at/ekS35
igoe104
16/10/2020
13:56
Kinwah_ Very true - especially last sentence.
pugugly
16/10/2020
10:27
Possibly Pugugly but I wouldn't take the parallels with Van Elle too far. Nmcn has maybe 10 water company customers compared to hundreds of customers for piling services. The risks of building a water treatment plant are different from stabilising dodgy ground. Homer as incoming chief executive surely would have been involved in all day to day matters even if the chairman had stood back a little despite remaining executive. Homer had 30 years experience with competitors in the industry so it wasn't like John Lewis's CEO appointment of a complete industry outsider. Will there be further bad news? I hope not but Covid may cause further problems. My own feeling is that the problems at nmcn are a microcosm of the whole contracting industry and that Boris's plans for big infrastructure spending are set on very shaky foundations.
kinwah
16/10/2020
07:02
Look at Van Elle (VANL) for a very similar precedent - If follows the same path then (imo) still more rot to be uncovered and potentially further to fall with the need for significantly discounted rights offer - Appears to show what happens only too often when the family - who have a very strict control over THEIR CASH step back and hand the reins to outsiders who may have a great city reputation but are very often too remote from the day to day nitty gritty and allow the wool to be pulled over their eyes.
pugugly
15/10/2020
23:48
Squeamish, reading the RNS carefully, I think the loss comes from costs incurred which for some reason are not recoverable from the water company customers. The contracts which in theory were profitable were actually loss-making over several years. The auditors would have difficulty uncovering issues like this if there was deliberate concealment by members of the management team. Let's hope the new auditors don't resign when they see what they've let themselves in for!
kinwah
15/10/2020
16:04
So this loss they’ve magicked out of nowhere - a liability they didn’t account for, or a receivable that’s gone bad? Again the RNS fails to make anything clear. Well done BDO for waving the accounts through year after year and resigning five minutes before the skeleton flops out of the closet. Cash balance obviously offers no downside protection here, now they’re having to gear up from a position where their tangible equity has now been wiped out to zero. The margins can’t support the interest rate they’ll have to pay. I thought this was one company in the sector that stood a chance. No debt, no funny business in the balance sheet, steady revenues - if only they could tickle margins up slightly they’d be to the moon. But no, just another in a long line of value destroying contractors...
squeamish1
15/10/2020
11:38
Given the Financial Director was rewarded handsomely it looks like he's ridden off into the sunset. The rumblings I'm hearing point to more fundamental management problems or lack of.
jwball
15/10/2020
10:20
The "new managment" by whom I think you mean Robert Moyle is the "old management". He and his family own around 50% of the company. The challenge for him is that as far as I'm aware none of his family are now involved in the day to day running of the business and John Homer was brought in to provide some heavyweight leadership. Now what's gone wrong is hard to tell but at best it would seem Homer was unaware of the huge losses on the water contracts or worse. It would also appear the previous FD hadn't got a scooby how to do accruals which seems unlikley so therefore presumably misled by his colleagues and insufficiently challenged by the FD. The huge and rising cash balances would have given comfort to the Board profits were being generated but it now seems likely these must have been pre-payments or overclaimed applications for payment. A quick look through the accounts (from two years ago?) where there was a £9m(?) exceptional gain for reasons I never really understood properly but seemed to relate to a change in the accounting rules might provide some insight. (I assumed this was money that was hidden for a rainy day but when the accounting rules changed they couldn't hang on to it).
cc2014
Chat Pages: 21  20  19  18  17  16  15  14  13  12  11  10  Older
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