RSM Tenon Share Discussion Threads

[nigelpm] 13/12/2011 09:27

Tend to agree narindg but I think there's a reasonable chance TNO will go bust.

[narindg] 13/12/2011 09:24

well why do you buy shares for.. and in any case why r u here if you are not an investor

[jonc] 13/12/2011 09:23

Tuck away for what?

[narindg] 13/12/2011 09:22

yes its tough out there guys but at the end we sitting at 10p - well i have just bought a few to tuck away..

[aleks_atanasov] 13/12/2011 09:19

its a bad statement, i cant figure out why at the beginning this morning some people rush to buy in, then why some retail investors begin buying it like cheap chips... i guess shorts were closing. ..banking their 60% profit in a month..

[nigelpm] 13/12/2011 09:15

The point is this trend is being seen across many accountancy practices.

It is very tough out there.

[narindg] 13/12/2011 08:48

It seems very postive in many respects.. they are weathering the storm and think this could turn strongly..

[nigelpm] 13/12/2011 08:46

Dire statement.

And it matches with my previous comment on the thread.

The question is will life get tougher or not?

[envirovision] 13/12/2011 08:34

any comment bonnio1000 ?

[still waiting] 13/12/2011 08:15

10p came quicker than I thought..

[still waiting] 13/12/2011 07:31

here come the profit warnings and when the billings in Q4 are simply not there!!!!

[wiganer] 06/12/2011 07:07

Ten is on.

[still waiting] 01/12/2011 15:36

staff cashing in freebies whilst there's still some value?

10p bottom?

[marketeye3] 01/12/2011 14:28

16p now.... where will it go from here?

[still waiting] 01/12/2011 13:35

am hearing liquidators are cutting their throats trying to get business..

[nigelpm] 30/11/2011 17:24

Tough market out there I can tell you.

Target have just gone bust.

[imastu pidgitaswell] 30/11/2011 14:40

I don't know of the achievements of Bob the Slob?

[envirovision] 30/11/2011 14:19

Disagree with that, would think the chances would be quite high.

Two words for you: Bob Morton

[imastu pidgitaswell] 30/11/2011 13:51

I wouldn't say the chances are high, but yes, in a business with negative net tangible assets, which has people as its primary assets and income generators (they sell services of their staff, not things or products, nor generic expertise - i.e. their staff could do the same job for many other firms), and with significant debt, it could happen.

It could go far, if, as mentioned in previoous comments by a few people, they get control of their working capital, but the danger is that they talk a good game but have yet to demonstrate it.

Watching, but far from convinced.

[the shuffle man] 30/11/2011 13:26

Is there a chance we could lose everything here. The market is telling us that things are not right.

[still waiting] 28/11/2011 22:26

BEG did well today getting out of paying redundancy costs etc, tax saving dept's are doing nothing..

[rmillaree] 25/11/2011 16:36

Hello Shuffle

It's probably mostly down to the debt that TNO are carrying at present.
So although they are currently expected to make close to £25 million pre-tax profit this year they are likely to have net debt in the region of £70 million plus at the period end 31/12/2011
If they didn't have the debt a poor year or two wouldn't be a problem but this debt means that can't really afford to have any major slip ups or they may breach covenants are not be able to renegotiate facilities as and when due.

There is probably also an element that the market doesn't believe the current forecasts that are in place and who can blame the market for not believing them - they already need a strong H2 to meet current forecasts and they haven't exactly hit previous forecasts that have been set in the last couple of years. In some respects anything over 20 million pre-tax with no exceptionals would be satisfactory to me at present.Repeat this next year and the debt levels should be much more back into the safe range where they are not vulnerable to some twitchy bank pulling funding given the first excuse.

[the shuffle man] 25/11/2011 14:42

Are these now on a PE of 2.5, dont understand the current fall in the share price, can anyone enlighten me.