Pre 8 a.m. comments

Starting off with several announcements from companies that I hold shares in.

I'm scratching my head a bit over the abrupt departure of the FD at French Connection (LON:FCCN). He's leaving today, which seems unusual since there is no replacement. My guess is that suggests some kind of falling out, but who knows? A long-serving FD leaving is bound to make investors jittery. I think many of us would have preferred to see the founder resigning, as he's made such a hash of running the company in the last few years (as judged by the poor financial results), and most people I've spoken to agree is well past his own sell-by date.

 

On a similar theme, I was very surprised to read this morning that the CEO of Stadium (LON:SDM) is also leaving. He presented at the Equity Development Investor Forum only last week, talking about their strategic plan to build it into a bigger group. He did seem an unusually heavyweight Director for such a small group though.

 

Snoozebox Holdings (LON:ZZZ) results look pretty awful, but it's their first proper year of trading. Even so, a loss at the gross profit level calls into question whether they have a viable business model? Probably too early to say, but I'm glad I sold these a few months ago - the price looked to have got ahead of itself, as is often the case with small growth companies - people get over-excited with the concept, and then get a rude awakening when results are published.

Also, Snoozebox recently announced problems with revenue recognition, indicating a lack of financial control. I see both a new FD and COO have been appointed today, which is a good thing. I might revisit it if the price comes down substantially.

 

Post 8 a.m. comments

It's the Master Investor conference in Islington tomorrow. I'll be dropping in (probably after lunch), and might be hovering around the Stockopedia stall at some point, chatting to investors. So do come and say hello if you're there, I always enjoy meeting and talking to other investors.

 

Interesting to see that the plan to De-List at Imaginatik

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