broomfielder
05 Jul 2017
Re: SP Earlier production of the H1 figs would be helpful all the more so if a positive story starts to emerge in the firward looking statement.I agree with your sentiment B on timing of the hoped-for recovery to profit - its not something that can be achieved overnight. The H1 and possibly FY figs for 2017 are likely still to be distorted by the higher costs of consultant recruitment for which much of the Fund Raising was geared toward. Inevitably there will be elements of set up / non recurring costs etc.which will be a drag on Earnings initially.They have however established a very aggressive business model which could certainly come back to bite them but I hope that the new hands-on Executive team have the acumen with which to bring it off.Its without doubt a high risk strategy but one which in my view makes NBB now a very exciting investment.On the supposition costs could be even higher than we budgetted for (and hopefully only for the short term), then further new substantial high quality Business such as that announced yesterday is an absolute necessity.In my view, we now have the people who having shown they can 'deliver' in the past, are the best placed to deliver again for us in the future.B
BOWOOD
05 Jul 2017
Re: SP I feel that the half year figures could be a little earlier than the end of September this year and could show a break even position. But the story will be in the forecast for the second half which hopefully will take us into a first ever profitable full year. It will be 2018 when the full benefits of the investment in staff filters through.It seems to me as if MB is determined to raise the profile of NBB as far as PR is concerned which suggests a lot more confidence within the more professional leadership. It will be interesting to see if the RNS attracts more contracts and perhaps new consultants who could bring further clients. I'm quite relaxed with the retrace in the SP and now more hopeful about NBB than I have been for some years.
broomfielder
05 Jul 2017
SP That the SP has today largely retraced to its earlier levels (before yesterday's RNS), is perhaps of little surprise (given the SP's previous long downward trend) but the relatively small number of shares in free float illustrated the extent which the SP can move dramatically on fairly modest buying activity.If a positive trading update can be released ahead of the H1 figures, it will cement the belief that MB and his team can deliver a long awaited turnaround for the Group.Certainly yesterday's RNS provided considerable encouragement in that respect. It also provided an insight into the potential uplift we might expect for the SP were more substantive evidence produced for NBB's recovery. The possibilities for a better managed public profile to Investors would also reap its own rewards.B
BOWOOD
04 Jul 2017
Re: SP Very welcome news and it is indicative of the new CEOs determination to drive the brand forward.
broomfielder
04 Jul 2017
SP Cant now get an electronic quote to Buy - never thought I would be able to write that (as we also seem destined to top today's Leaderboard).B
broomfielder
04 Jul 2017
RNS Re Previous entry - should read a FTSE 100 'Company'.Should also have added that updating the Market/shareholders other than Result Reporting is a VERY welcome change.More of the same please.B
broomfielder
04 Jul 2017
RNS Well this is the kind of welcome update we were hoping for after the recently reported Results (which to be honest, left a rather bitter taste in the mouth).Attracting a major new contract (although not surprisingly no detail on the scope / scale etc is provided) from a FTSE 100 is very positive and hopefully also a sign of the more dynamic Group we were looking to MB to lead.B
broomfielder
06 Jun 2017
SP Despite the awful Results just reported, there are faint signs albeit that a recovery could just around the corner for NBB and the recently parachuted new Executive team will know exactly what they have to do and how little time they have in which to do it.So either we believe Brexit could prove terminal for many Recruiters or we believe NBB will have adjusted their business model to compete effectively and become sustainably profitable. Its as simple as that as they are a UK dominated Firm.What the Group has to for now is improve its Public profile and start updating the Market on a much more regular basis on progress rather than simply passively releasing statutory accounts twice a year. It is part of Corporate Executive Management after all and if they are routinely speaking to Executives as part of their core activity, you would think they would realise it. So get on and manage your Corporate profile better Mr Brennan.Finally, I have never taken the view of many PI's that MM's manipulate the SP to suit their needs but recent activity i share trading does seem to back up this sort of theory. Modest activity levels albeit but the bulk have been 'buys' despite the Results but the SP is down significantly in % terms.You do wonder!B
BOWOOD
02 Jun 2017
Re: RNS / Full Year Results I have looked over the figures but not really studied them but will have a good look when the report arrives. There are and have been for some time some very large shareholders who will expect and perhaps demand that the company moves into a surplus during the final months of the current year. I doubt if any will want to put new money in and as MB will have been in office long enough to have turned the business into a surplus by the end of June 17, and unless he does, he may have to fold his tent.
broomfielder
02 Jun 2017
RNS / Full Year Results Well, I think we were suspicious that the previous restructure hadnt quite delivered when 2015 H2 Results disclosed much higher Losses and lower overall Turnover.The arrival of Mike Brennan and his team at the end of 2016 was a hoped-for springboard toward greater things and this, despite yet further major restructuring and the consequential costs and disruption to the Group's ongoing businesses, was viewed positively (myself included).We expected these results (12 months to end Dec 2016) to be distorted and they certainly are. They are also dreadful by any measure. The collapse in Turnover is major and a concern must be how feasible it is to obtain new highly profitable and recurring business going forward, quite apart from the histoic focus on cost control.Now that great carpet called 'restructure' under which all sorts of rubbish can be swept certainly makes it very difficult to tease out the true non recurring costs associated with the business upheaval, distinct from the residual business operating costs (eg there are no non recurring Exceptional costs for departing higher paid employees etc - c £200k in 2015).However, the major worry is the apparent inability to turnaround the dominant NB Executive Search division which not only has continued to underperform in early 2017 but has required further restructuring since!It is recognised that any such major restructure will not seemlessly move the Group back into profit and while there are encouraging signs in other parts of the business, we really need NBES to be performing strongly......and it isnt.M Brennan states that he expects the benefits of the many highly paid new recruits to filter through in H2 2017......Well the clock's ticking.With c £1m in cash left at Year End, we could be looking at a further Equity call in 6 -9 months time, assuming of course anyone has the remotest appetite for any further restructuring.B
BOWOOD
31 Dec 2016
Re: Gordon I would be suprised if NBB gets all of the monies as I rather suspect that SMS will not survive on its own.
broomfielder
31 Dec 2016
Re: Gordon Yes it is rather a long time but even although these repayments are spread monthly over the 5 year period, I think it might actually struggle with these albeit I am looking only at historic headline accounting info for SMS.B
BOWOOD
31 Dec 2016
Gordon It would seem as if AG has been given more than 5 years to pay back his share of the inter company loans. Seems a long time for a so called growth business. Removes a massive drain from NBB financial and management resources.
BOWOOD
30 Dec 2016
Re: SMS Yes a good move and it will remove further losses in the year to December '17, will allow management to concentrate on the core operations and will provide further working capital to be deployed within those sectors.
broomfielder
30 Dec 2016
Re: SMS Agree. The re-focus on 'core' activities I know is always a favourite when we see a new Exec team come in but here I agree it makes sense.The write off is not insignificant to NBB but clearly there must have been the prospect of further funding (of losses) so an exit with a bit of cash certainly seems to make sense.The SP is showing a tick up of 7.5% on the news (on no trading activity) so I am not sure if thats a positive Market reaction or an anomaly.B
