Morning All!
Interim Results For The 6 Months To End July 2017 – Nothing to excite me here really - Revenues up 4% to £3.9m (H1 2016: £3.8m), Gross Profit up by 7% to £2.7m (H1 2016: £2.5m), EBITDA Loss for the period -£0.6m (H1 2016: £0m).
Interim Results For The 6 Months To End July 2017 – Improvements, slow and steady as the company “Turnaround (is) delivering improved results”. Adjusted EBITDA up from a -£0.4m Loss to a Profit of £0.3m. The CEO is confident for the full year and the board believes that that the current bank overdraft facility is sufficient to support the company's working capital requirements. After a Profit warning at the end of 2016, the share has doubled from the low – This update may encourage others to believe a corner has been, or is at least starting to be, turned.
Q3 2017 Market Update – Seems quite positive “a landmark period for Iofina - The Group produced more iodine than expected and began implementing management's strategic expansion plans by starting the construction of IO#7, at a time when global iodine prices continue to recover”. I don’t like the Net Debt here (almost 100% of Mkt Cap) or the fact it’s never made a Profit. I am sure there’s a business case here for those that understand the industry – I do not.
Note - If this is particularly good news - It's a concern the price is up 50% in the past 12 months (10% yesterday) - Smells fishy to me!
Interim Results For The 6 Months To End July 2017 – Seems rather flat, actually perhaps, even a slight miss here to the downside. The fact I am not particularly attracted to this company on the basis it is good at improving Revenue but Profit just doesn’t seem to follow – It is a slight concern they are reporting flat Revenue here.
Trading Statement For The Quarter Ending September 2017 – Gross Profit up 21% (CC) on a LFL basis. The board is also confident "that profit before tax for the full year will be ahead of current market expectations” – On a PER of…
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