Rounder88
21 Oct 2015
Seems a little crazy to sell a business with WIP and receivables >£15m for essentially £9.3, with a £6m hole in the writedown
Hardboy
21 Oct 2015
Re: Sale of APAC business stream I think the market should view it positively. They have got in some cash and sold off a distrtaction. Main markets are buoyant, and they are doing well in them.
dazedandconfused
21 Oct 2015
Sale of APAC business stream Be interesting to see how the market views this, with £10 write-down on book value (£6m goodwill, so what was the other £4m), and not clearing debt completely (which appears to have risen over last six months? - late payments?). Plus Middle East now being reviewed...
Rounder88
20 Oct 2015
Unusually high volumes.... Somebody knows where that APAC sale is i would imagine
troy17
02 Jul 2015
Results Not the greatest results but as to be expected I guess. Common knowledge that the APAC part of the business is losing money so once the sale of that business is complete should see a good turn around. UK and Europe do look very healthy moving forward.
Hardboy
12 Jun 2015
Re: Fool Write Up Dr: A very thorough analysis; and one which overall I agree with. It seems there has been some bad practices, but the affect of these has probably been more tan accounted for in the share price; and there is a new management team who seem determined to grow in a clean way. Despite its problems the business, as witnessed by your figures on sales and order book, has not really been affected. The potential (at this price) is huge, but the risk is considerable too.
Blanketstacker
12 Jun 2015
Re: Fool Write Up I used to hold here. The company has developed a habit of springing unpleasant surprises (so trulky a slinky!!!). The SFO investigation has totally deterred me. It is no longer on my watch list. Good luck.
Dr Vodka Quickstep
12 Jun 2015
Fool Write Up I have recently posted this on the fool website and would be pleased to get any feedback (positive or negative!)[link]
Hardboy
27 Apr 2015
Directors Buying A co-ordinated purchase of shares by the directors - good to see - most of them spent £5k, & the chairman £20k. Obviously they are trying to send a message that the BoD have confidence in the future of the company ahead of a close period prior to the results. Hopefully they genuinely believe & will be proved right.
dazedandconfused
23 Apr 2015
Re: News i don't like the sound of a £3m write-down on the part of the business they are trying to sell off - flagging up a 'make us an offer' sign already...
Hardboy
23 Apr 2015
Re: News Well, now we have news, in the form of a general business update. It's welcome, and pleasantly easy to read & well focussed. It isn't just CSG, but I do wish companies would pre-warn investors of when updates are going to be released. This is a general update, not an urgent release about a specific development, so its release can be (and almost certainly was) scheduled, so there is no reason not to.Largely the news is good - it sounds like most of the business is going well and they have a plan to reduce the debt. The US investigation is on going; and there will be one off charges involved in this against the company, but hopefully this should be over soon & it can be put behind the company.
BOWOOD
14 Apr 2015
Re: News I think there was a bit of a shareholder revolt a couple of years ago when they tried to remove the Chairman.
Hardboy
14 Apr 2015
News Last year Sweett issued a pre close trading update in mid April. I checked their website to see what was scheduled, and found the "Financial Calendar" only had 2014 dates in it. I thought that poor, so I wrote to suggest they updated their webpages. I can not remember when I wrote but it must be over a week ago. I got a reply today. The reply does state their policy on informing shareholders, which is good. But I think the delay in replying, the arrogant tone of the reply, the "we'll tell you what we want to tell you, when we want to" attitude, and most of all the fact that it does not say whether or not they have done or will update the financial calendar on their website for 2015, is very disappointing. Here's what they said:Thank you for your email concerning Sweett’s financial calendar for 2015 and the pre-close trading statement. Sweett is not obliged to publish an investor timetable. However, as soon as any dates are announced, we will publish them on our website. Regards Philip WattCompany Secretary
swarfega man
27 Mar 2015
Re: What has happened?? fairly catastrophic performance over the week or so. Is there a rumour going round of bad news coming?
troy17
12 Mar 2015
Re: What has happened?? Yeah I haven't seen any announcements. Major buying spree already today as well. Think I will just watch and wait for now
