Straight Plc Share Discussion Threads

[purple11] 30/5/2013 06:39

Financial highlights: · Group sales increased by 11.4% to £16.70m (H1 2011: £14.99m) · Group underlying profit* increased to £0.28m (H1 2011: £0.19m) · Loss before tax £0.24m (H1 2011: loss of £0.11m) · Basic loss per share of 2.1p (H1 2011: loss of 0.9p) · Underlying earnings per share 1.8p (H1 2011: 1.1p) · Net debt reduced from £4.1m (December 2011) to £3.2m (June 2012)

yes but look how much profit they made from £16m worth of sales.....280k.

so perhaps just 500k profit of £30m contract?

plus 3.2m debt.

[knigel] 30/5/2013 06:07

RNS contract! Worth between £ 30 (!) and £ 60 million !!

[topvest] 28/5/2013 20:06

Sounds like some news may be leaking - maybe results close?

[fillipe] 28/5/2013 12:50

May 1st marked a 21p low with the stick rising to 28.5p mid, today.

30p paid at 1242hrs

f

[charo] 30/4/2013 07:06

practice is that normally a public company reports its prelims within 3 montms of year end and in most instances informs market of intention after two.straight untill last year did so.it is from experience that when accounts are late,ie later than normal,then bad news follows.as to being informed i make my living from my investments and try to keep informed.
i warned about metalrax right up to the end and exited from there at profit as have here.to others good luck.

[gelp] 27/4/2013 22:29

Charo - looking back you seem very well informed!
I am a bit puzzled. If the figures are not due till the end of May,(by your own post), why would STT send out earlier? Unless I am mistaken they are not overdue. Looking back things seem to be improving .
I may be a bit naive but are things really anywhere as bad as portrayed?
I hold a few shares and am genuinely interested in the prospects.

[topvest] 15/4/2013 07:56

Yes, doesn't bode well at all for Straight in my view.

[charo] 15/4/2013 07:49

coral out early well before needed what about our straight shooters,or did i misspell.

[topvest] 11/4/2013 19:54

Yes, looks like difficult negotiations are ongoing. I hope they survive, but there has to be a serious risk of dilution even if they get an equity issuance away. Amazed that they survived last year, so we will see if JS can do it again. Interesting. Might be interested in buying in again post results, but definitely not before!

[charo] 11/4/2013 10:19

gelp read the statements indeed the lack of them tells all.the balance sheet is shot no equity value.the company does a great marketing job but poor in quality of manufacture and service.they have had a number of major issues not reported and acknowledged their manufacturing deficiences.many of the product lines are low margin and pricing is tough in a somewhat overcrowded market.straight are not alone in finding it difficult but market is oversupplied and rationalisation of the recycling market needs take place.take a look at what used to be mgb and see the state of their finances as the leading wheely bin manufacturer and supplier.it is very worrying when quoted companies miss or pass normal reporting periods as straight have again passed.

[gelp] 10/4/2013 19:38

Respectfully:Why should there not be a surge in profits. There is no warning to date, The products and customers diversified, and a lot of intelligent business development, cost savings, and they are leaders in their field.
If there is an improvement then cash generation will service the loans and repay debt - we may even see a dividend again next couple of years.
To me, the glass is half full! If cash was needed i am sure a rights issue would be supported at these prices! but why would others want to dilute at these prices?

[charo] 09/4/2013 07:48

The shareholders are helpless in this sutuation other than js.the balance sheet shows a completely inslvent situation cash flow is not sufficient to improve matters without a surge in profits.bank will determine fate creditors basically reduce exposire where can or accept very high risk.
Cant see investors supportibg a rescue rights with existing board,current equity value,not market value,is negative so existing shareholders are wiped out anyway so what the hell.metalrax had a stronger balance sheet profitabke subs and yet failed.

[gelp] 08/4/2013 23:58

I am no industry expert but a sympathetic fellow Business man and small shareholder. I do not know how factual your information is.
Sure there is some renegotiation with suppliers and other creditors, in common with most other UK operations today. That is very common today.
Surely nothing wrong with that given UK Bank PLC generally is out of the question for anyone these days.
Any sensible supplier will do what Dyro did and help out, for mutual benefit.
I doubt the main shareholders will take any action to jeopardise their, and other shareholder value.
All acts to date have been to improve the Company, and the bold moves should pay dividends at some stage.
If they continue to tidy up the creditors, and make profit again, the prospects will look very different.

[charo] 08/4/2013 10:31

the vendors of dyro given no real choice,take what we offer or win in the courts what we accept is yours and get nothing as we will be placed in admin.the company is still negotiating with lenders and auditors ,that must be obvious to anyone with experience of business.odds are still on merger with attendant fundraising or admin.

[sg31] 08/4/2013 08:44

I hope the trend reverses soon. The performance over the last couple of years is less than impressive.

[gelp] 08/4/2013 07:40

The dyro refinance deal looks very sensible and vendors must have confidence.
Lot of historical problems from bold expansion now under belt. Pessimism surely over done? Straight has long and consistent record of transparency and knows the market. Does not take much to reverse trend with small cap.

[topvest] 04/4/2013 16:58

Share price continuing to drop...hmmm!

[topvest] 02/4/2013 19:28

Maybe, maybe not. Certainly wouldn't be surprised!

[charo] 02/4/2013 14:27

prepack on way.

[jpat4] 02/4/2013 08:12

GCM resources

Michael Tang secured the GL for GCM which will be transformational.DYOR

[charo] 02/4/2013 08:11

mrx another company that delayed its announcement on year end gone into admin.could straight be next.silence in financialmatters is rarely golden.

[daz] 15/3/2013 08:42

There looks to be a line of stock available for those taking an interest in the company, I was able to buy just over the offer.

FWIW, I think there is a good risk/reward here with the benefit of reduced manufacturing costs coming through and the contracts announced last month. Sharescope have forecasts of 5/6.3p for years to Dec 2012/2103 and a dividend of 2p for 2013. I'm not sure how accurate those forecasts are but if met, they do make the company look good value.

[the big fella] 05/3/2013 12:53

I tend to side with Phil here, although I fully understand the reluctance to buy back a company who has cost you money previously. I have made that mistake too many times I care to remember! However I have always made money from STT in the past. Let's hope that trend continues.
The underlying cash flow was significantly improved at the interims. I expect this to show further improvements again come the finals - as the benefits of reduced manufacturing costs are seen.
Not without risk, but small caps never are. Once you see it in black and white the price may be double what it is today.