The AIM-listed leading independent tissue converter.
Trading Update (Full Year To End April 2018) and Temporary Suspension Of Trading – This is bad news.
Condolences to holders here!
22-Jan-2018 – 36p – £46.4m – PER n/a
Unaudited Interim Results For The 6 Months To End October 2017 – Operating loss of £5.7m compared to an Operating Profit of £3.9m last time. Revenue up 13.1% to £72.3m (£63.9m last time), Net debt is up £9.4m to £29.3m. New CEO believes “that the capabilities of this business are significant and, if well managed, it can deliver a considerably improved performance in the medium term”. Still expects a small loss (adjusted EBITDA) this year but expects to operate within its borrowing covenants while work on the turnaround continues. And, the CFO has gone, surprised?
I just can’t get interested here.
18-Mar-2018 – 27p – £34.8m – PER 644.1
Trading Update – “Year ending 30 April 2018 results impacted materially but Group on track for FY19”.
Stockopedia classes this as a Highly Speculative Value Trap and I am not really into investing in those.