And now we wait.....results in the morning!!
Corporate governance at FSTA is heads and shoulders above Spepherd Neame. And Simon Emeny is going to slowly advance that agenda even if pressure wasn't applied. The SN story does give him extra leverage heading into a key part of the year to loosen a few reins from the family just that much more. Over time I'm pleased w the trajectory and the II's are supporting this process constructively without upsetting the apple cart. SN was also rife given the underperformance as well. I attribute the recover to simply be a predictable retracement after the non-substantive fall combined with the usual rise this stock usually experiences leading into earnings. Fingers crossed on the actual results now!!
Worth noting for those who wish to trade the shares (not myself, I'm straight long), the shares tend to run up a bit into the interim and preliminary announcements. With preliminary FY report coming Fri 6th June a move up is quite likely in the next week or so....
No substantive reason. FSTA is known to drift for short periods up or down inexplicably mainly owing to short term imbalance of supply or demand of shares. Usually the drifts downwards coincide with family selling as they are slowly reducing exposure (which I view notionally positive)
Odd occurrence, attempted to sell yesterday afternoon at 0.79p - below the 0.8p-0.95p spread at the time and the order wasn't filled (simply expired). Very odd. What's up w the MM's?
What do they need cash for -- all that is left is to watch Linc Energy shares and babysit the uranium....ok, I'm being a bit facetious - but lacking info from the BoD (the usual recurring theme), one must assume they are sitting about burning through loads of cash unnecessarily
@OzTrader - Echo all your concerns. The lack of transparency is systemic
I averaged down a few times on this one....and boy isn't that looking awful in the rearview
I have had precisely the opposite experience at numerous Fuller's Pubs. The beer is almost always fresh - barrels are changed efficiently and the lot. As far as being well run - FSTA strives high in this regard and seems to be doing quite well overall