Photo-me Share Discussion Threads

[snadgey] 15/7/2019 13:28

"Shares in Mike Ashley's Sport Direct have fallen sharply after it delayed its results, citing uncertainty about trading its House of Fraser chain.

The company, whose results were due on Thursday, added the delay was also due to its auditor, Grant Thornton, facing increased scrutiny of its work for Sports Direct."

www.bbc.co.uk

[knowing] 12/7/2019 15:51

Never rises at the same speed

[knowing] 12/7/2019 13:56

???????

The Board believes the accounts to be substantially complete. Furthermore, to date, the auditor has not raised any material issues in relation to Photo-Me's accounts. The Board is therefore confident that the Group will report audited results for 2019 in line with current market expectations and the guidance provided in the announcement of 3 April 2019.

Anyway just tucked away so PHD as that seems to also be recovering

[inomario] 12/7/2019 13:49

The auditor story implies one of 2 things:

(i) no issues with the accounts (the incoming auditors simply want more time to make sure they get it right - especially in the wake of recent bad press, see Patisserie etc), in which case PHTM is probably moderately to significantly undervalued;

(ii) issues with the accounts, in which case there could be severe downside risk.

Only time will tell. The way I played it was to get out, while being fully aware that I might be missing out on some decent profits.

[stun12] 12/7/2019 12:33

It was doing pretty nicely until the auditor story. Since then, PHTM has said that the figures are good, as far as they can tell, and that Grant Thornton haven't brought up any issues. Back up we go, I guess.

[knowing] 12/7/2019 10:37

Maybe someone has wind of the results

[targatarga] 12/7/2019 10:36

Odd movement! Imho

[knowing] 11/7/2019 18:30

Photo-Me International saw its shares slip after the photo booth operator said it will delay the release of its results for the 2019 financial year, as more time is needed to complete its audit.

The company said the delay in the publication of its results for the year to April 30 will give its new auditor Grant Thornton time to complete its work.

Grant Thornton was hired as its new auditor, replacing KPMG, in 2018 and it said it needed more time to complete the audit with "enhanced internal regulatory scrutiny".

Photo-Me said it believes its accounts for the year to be substantially complete and said its new auditors have not raised any material issues regarding the accounts.

[yf23_1] 11/7/2019 18:25

It wouldnt surprise me if Grant Thornton were tightening up after FCA got involved which could explain the delay.

[knowing] 11/7/2019 16:04

Interesting. 450K

[jozo] 10/7/2019 21:53

Happy to buy back if all above board after results.Would rather put my 6k somewhere else for now just in case.Patisserie was a first for me, and an big eye-opener into the shady world of auditing. Am happy to wait before jumping back in

[nw99] 10/7/2019 19:48

Good luck might not go lower

[jozo] 10/7/2019 15:59

Bad experience after patisserie That's me out I'm afraid Happy to buy back when/if no issues Have somewhere after safer for now Jozo

[nw99] 08/7/2019 09:24

Bouncing now

[slogsweep] 08/7/2019 09:00

Bit late to announce this delay the day before publication. Not good

[nw99] 08/7/2019 08:57

Looks good

[nw99] 08/7/2019 08:09

Just picked up a few

[nw99] 08/7/2019 08:08

Buying opportunity here as results in line

[john09] 08/7/2019 08:06

Gonna tank

[nw99] 08/7/2019 07:24

Yield 8.6%

[nw99] 08/7/2019 07:16

Results will be bang in line

[bingham] 05/7/2019 11:51

No Tuesday the 9th.