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Latest News

CVR

Conviviality - are you sure you want to pay a dividend on Friday?

Steve Moore has already covered the disaster story that is Conviviality (CVR) HERE. In essence it forgot that it has a tax bill (I assume PAYE) due on 29 March for £30 million and does not have the borrowing headroom to pay that. Uh Oh. As the BBC says about once a day we would not get amateurish corporate disasters like this if more companies were run by women. Like er....Diana Hunter the CEO of Conviviality. Anyhow...

CNS

Corero Network Security – ‘Customer Wins’, though still what about the cash crunch ahoy?

Customer Wins announcement from Corero Network Security (CNS). When I last updated in January it was “Significant Contract Wins”. Hmmm, what about the cash crunch ahoy?, so what now?...

ALU

Alumasc – profit warning… & what it means for forecasts

Trading Statement announcement from building products group Alumasc (ALU) was noted in Tom’s Bearcast today. What’s the detail and broker forecast response?...

Bearcast
premium content

Tom Winnifrith Bearcast: if you are sitting in China you can't hear this. A dose of Schadenfreude & the 2 biggest slam dunk shorts

I gather from Andrew Monk that ShareProphets is banned in China - what could they possibly not like about this website? I give my views on China and also on the way that poor BMD has been robbed today. News of a shock resignation just days before he faces rows of empty seats sees me enjoy a cup of Schadenfreude at the expense of my old friend Jim Mellon. I look at Andalas Energy (ADL), asking it to comment on new reports of internal woes. I look at Eqtec (EQT) and MySquar (MYSQ) and also at Alumasc (ALU) and Sportech (SPO). Make sure you get your free ticket to UK Investor on April 21 using the promotional code WINNIFRITH when booking an investor class seat HERE - if only to hear a live 40 minute bearcast with myself & Paul Scott being recorded!

CVR
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Conviviality – if the shares don’t respond as hoped, announce news again!... And then it gets very much worse

Trading update on Thursday from Conviviality (CVR) included that “following a review of current year projections, the company now expects that adjusted EBITDA for the current year will be approximately 20% below current market expectations”, but sought to reassure that “the company has not seen any material weakness in overall demand” and was followed by some director share buying. The shares though remained depressed... and there was then a 1:06pm Update to announcement. There's now a 'Further Update'...

FLX

Falanx - management changes but it is the numbers that matter, Buy

Post last week's placing and acquisition of First Base, Falanx (FLX) has completed, what we hope will be, its last reshuffle at the top. The key men, executive chairman Mike Read and COO John Blamire stay in situe. And that is what really matters.

DTY

Dignity - 'I wish we could be more precise'. Quite!

I have never had as many comments to an article as my piece on Dignity (DTY) back in January. It was a very good debate as picked up by Tom a few days later HERE, and different readers have very different views on the stock. The reality is we are back to around where we were - just sub 10 quid a share - after the shafting the company took after its 'we need to cut the prices of our funeral plans' comments back in January after today's full year numbers.

AFN
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Brokerman Dan literally robbed in new ADVFN awards - surely he had a hat-trick in the bank?

ADVFN (AFN) has today published its list of big advertisers on its website, oops I meant to say its awards for outstanding contributions to financial services. As ever I take the list of winners with the gravity that is merited. They really are the cornerstone of the financial calendar these days. But one fact screams out at me: BrokerMan Dan Levi was on a hat-trick as share blogger of the year - surely he had the title in the bank. But he's been robbed. 

BMV

Buy Bluebird Merchant Ventures at 3.8p - target 12.8p or higher

Okay, Bluebird (BMV) is a corporate client of broker SP Angel so take this report with a pinch of salt but analyst John Meyer is no fool - although he sometimes lacks a sense of humour. And the 24 page report is very detailed. And of course we own the shares and I do think they are cheap at 3.8p although I'm not sure that i am as optimistic as Meyer. Anyhow, he is the expert and writes: 

PFP
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Align to call board-ousting EGM within days - warns its placing ahoy to support fat cat salaries at Pathfinder

As you know I do not always agree with Richard Jennings of Align Research but on the matter of Pathfinder Minerals (PFP) he is spot on and I support his efforts to oust CEO Nick Trew and toff Tory MP Sir Henry Bellingham, of 3DM infamy, 100%. Jennings has published a new letter with a dire warning to anyone prepared to back Trew & Sir Hal. Perhaps the campaign slogon for comrade Jennings should be "For the many not the Trew." Maybe that needs work?  Jennings writes:

UEN

Anyone Daring to Invest in Oil From Russia Might Like the Perky Prospects of this Company

Hello Share Pushers. Sure, Russia isn’t the flavour of the month following the hoo-hah about the allegedly poisoned ex-secret agent and his daughter. But my humble experience of companies operating in countries which are currently controversial is that the share price can be held artificially low. And the effects of all news stories don’t always last forever.

Bearcast
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Tom Winnifrith Bearcast: So I told the dentist you guys are all Laurence Olivier not Dustin Hoffman

I am £155 and two teeth worse off after my encounter with Sir Laurence. I explain all. I am still not 100%. In the podcast I look at Milestone (MSG) where I have a hot rumour, Sabien (SNT), BlueJay Mining (BJAY), Tiso Blackstar (TBGR), Blenheim Natural Resources (BNR) and Telit Communications (TCM).

ECSC

ECSC Group – 2017 results, further share price decline – you were warned

Cyber security services group ECSC (ECSC) has announced results for 2017 including noting “corporate decision-making cycles have been longer than anticipated”, but with CEO Ian Mann arguing “following a year of transformation, ECSC now has a platform to pursue the opportunity in the cyber security market”. Hmmm…

TAST

Tasty – 2017 results, “significant positive changes throughout 2018”?

Wildwood and dim t UK restaurant company Tasty (TAST) has announced results for the 2017 calendar year – with “highlights including; “Revenue up 9.7% to £50.3m” and “The financial performance of the group was in line with the board's revised expectation”. Hmmm, “revised expectation” hey…

TERN

Tern – a partner for Device Authority. No financials today, but…...

AIM-listed jam tomorrow investment company Tern plc (TERN) has announced that its principal investee company, Device Authority, has a new strategic partner in the form of NSE-listed (National Stock Exchange of India, not the NYSE!) Larsen & Toubro Limited. It looks like a big player but…..

TCM

Telit is this its fourth, fifth or sixth 2017 profits warning?

You rather lose count after a while. The first 2017 profits warning was on August 7, when mortgage fraudster and fugitive from US justice Uzi Katz served up the interims. Thereafter with insider dealer Yosi Fait taking over Telit Communications (TCM) has served up so many profits warnings that I have almost lost count. And today there is another...

MIN

Minoan updates (at last!) on sale of Travel division and Cavo Sidero. Buy

No-one could ever accuse AIM-listed Minoan (MIN) of doing anything quickly, but this morning’s announcement appears to suggest that things are finally moving. It is still speculative (both in terms of whether two deals happen, and how long they’ll take) but the shares are a buy.

EZJ

Hat Tip to Easyjet CEO Johan Lundgren for taking me seriously as a customer

You may remember that in a podcast (HERE) on 4th March I recalled a horrific 22 hour trip from Kalamata, via Athens Airport, to Bristol made hellish not just by snow but by the behaviour of EasyJet (EZJ) staff who repeatedly lied to me and fellow passengers. last night I sent that podcast to EasyJet CEO Johan Lundgren with a note:

AAU

Ariana – production guidance: good news

AIM-listed Ariana Resources has released production guidance at its JV operation at Kiziltepe in Turkey for 2018. The big headline is that the forecast gold production has been upped to 20,000 oz, but there are a few more interesting nuggets to be found.

SEV

Servision admits that shareholders are fecked, another vindication for the Sheriff of AIM

With its shares suspended pending clarification, long time aggressive accounting, cash guzzling, AIM uber dog Servision (SEV) has updated those dumb enough to hold its shares, despite all the warnings here, about the slide into the abyss.

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