Share Name Share Symbol Market Type Share ISIN Share Description
Straight Plc LSE:STT London Ordinary Share GB0033695486 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 77.00p 0.00p 0.00p - - - 0 06:30:09
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 26.1 -0.1 -0.3 - 9.16

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Date Time Title Posts
16/11/201613:43STRAIGHT PLC - GOING STRAIGHT UP1,194
07/12/200822:02Short Term Trader2
15/4/200415:44info please7
01/4/ - these jokers piss Ј2m up the wall43

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this_is_me: You would think that they would have expected not to have to pay more than 60p given the low share price and less than impressive recent profitability. However, in my view, profitability is likely to improve considerably and revenue is on an upward trajectory so I would expect the share price to be above £1 in a few years otherwise I wouldn't have shelled out 40p in the first place. It all depends on whether JS wants to go at it hammer and tongs for a few years to achieve that or whether he will decide to retire and have a quiet life by taking the cash now.
gelp: Yes JMF69: Share price was moving up on back of obvious improvements in prospects before this, and specially since last year refinance. Sales returning towards 30 million and profits as well in wonderful Market Space uk and overseas. Languishing share price clearly attracts opportunism. Looking at One 51 PLC and the very long history is not rocket science to see massive Short, Medium and Long term benefits in merging STT. Others may wake up as well now. JS has over very many years been a buyer than a seller and will be interesting now tables turned with approach from a very much bigger concern. At 100p would be only be valued at £15 million, just half of sales, and many of us remember those pre collapse days with share price above this on lower sales and less prospects . share price punished short term on courageous acquisition deals due to lack of bank co operation - and having used vendor finance very sensibly and restored bank confidence the share price is back on the up. THis would be a Smart move by One 51 plc - at double the price! (Note they pulled in 9 million euros from selling a none core subsiduary recently and just announced 75 million 4 year euro bank credit line). Off Google. STT Shares tightly held . Good luck to JS the team and all shareholders. PS Offer will need to carry is it 80% of shareholders? You may guess I am long term fan - but all good things come to end one day - but not just yet!!!!
this_is_me: Yes, it is now not likely to go bust so we can look forward to a recovery in the share price and a dividend over then next year or two.
gelp: "with trading in the current year much improved and the Group having returned to profitability." James Newman, Chairman of Straight plc, commented: "The Group has maintained its market leading position and is now well placed to deliver a much improved financial performance in 2013 and beyond."" Glass is still more than half full than half empty. Announcement has been putout at the end of another 6 months trading, so the assumption must be that the comment "with trading in the current year much improved and the Group having returned to profitability" is very soundly based. reading between the lines, the foundation and spread of the £28 million business is pretty solid and the write off of good will is part of the price one pays to grow and consolidate. I share SG 31 views, but I do hope that more strategic acquisitions are on the bubble! ideally with a higher share price and for equity. Debt is built up because they have not diluted at low share price. Screw together a couple of good results and suggest dividend return, and picture will change. Options remain to convert, but not at ridiculously low share price. Conversely at this price Group is attractive to other consolidators. JS is buyer than seller, and I detect no fall off in enthusiasm for growth and profits, and dividends. Lot of detail in accounts, but the is established operation and pretty bankable asset, in normal commercial terms today, 2013!
gelp: Charo. Using latest, historic interims as yard stick for current cash position is surely misleading. You are well aware of the sensible renegotiating of the Tyco deal cost,in order to ensure vendor finance over 5 years, not bank, and at a rate of repayment which is sensible as well. Note the equity has not been diluted, so shareholder valued preserved when at low levels and that will stand in good stead going forward for you (if a shareholder) and me and those others who do hold shares. All this and more SINCE the 'latest' interim's. Funding with equity only works if the share price is at sensible levels - not when at lowest level!
topvest: I fully agree with you Charo - this looks a bit of a misleading RNS to me - helpful to get the share price up, with people that haven't really understood what they have won, but really not worth much at all other than renewing a contract they already had in place. To quote the very large numbers is a tad misleading in my view as it's shared between a number of suppliers and not definite business. It is good news, but what about current or 2012 trading where we have had silence for a very long time. Overall, it's very poor form to announce this and NO trading update or even indication of when the results are likely. I can see a possible fundraising with the results. Last chance saloon at the moment! No chance of me getting back in before I see some real numbers as Mr Straight is in a corner and I would like to ensure that he has found his way out before considering getting back in.
topvest: Share price continuing to drop...hmmm!
gelp: Charo: Following your post 874 I made a direct enquiry of Jonathan Straight ( as any one can do) and received an immediate and straight forward explanation as below. The write down mentioned on page 40 of the accounts has no material relevance whatsoever as does not affect the Group Accounts or cash. I asked an accountant friend and he concurs with the interpretation. My reading of the accounts, and news items recently is of a glass half full not half empty. Topvest: My experience is a direct enquiry does indeed elicit a 'Straight' answer! "Our group holding company, Straight plc purchased Blackwall Limited and Dyro Holdings Limited (now Straight Manufacturing Limited). In the books of the holding company the amount paid for the investments are stated at what was paid for them, very crudely £6m+£3m = £9m. In the Group consolidated accounts you don't see the investment because a Group doesn't invest in itself, the investment in the books of the holding company is eliminated against the net assets of the acquired businesses and the difference is carried in the balance sheet as goodwill. Under accounting rules, when a company has investments it has to mark them to market. Because our market cap is much lower than £9m, we were forced under this rule to write down the value of the investment in line with market cap, hence the reduction in the value of investments on page 49 in the holding company accounts for Straight plc, and no, you don't get the chance under the rules to increase the value of investments back up to £9m if the share price increases again. Accounting rules deal with goodwill in a different way however. You only write it down if the net present value "NPV" discounted at the Group's WACC of the future cashflows associated with the assets under the goodwill is less that their carrying value. So in the Group consolidated accounts you don't get a write-down of goodwill if the share price falls. If you look at page 37 you can see that goodwill is £6.1m in the books. This has not had to be written down as the relevant NPVs are £6.9m, greater than the £6.1m"
gelp: Not a bad time to sort options out! I think this is a well run company by guys that know the game as well as anyone. Over seas credentials are impressive. Ok so punched a little ahead of its weight - but is well based. No brainer surely. Either share price will recover or bigger player will make a move. UK I hope. Blue chip clients, Green and lots of barriers to others. Long term fan.I like the deals. Topped up with a few more.
energeticbacker: Current share price implies that the end is nigh for this cash generative business - this is ridiculous! Evident problems with manufacturer acquired resulted in shut down for entire month of August (this isn't France!) and huge amount of restructuring. Debt is being paid down and plenty of headroom. Share price is getting close to Dec 2008 distressed levels when they are now in much much better shape. New note at
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