taken from Research Tree: "Eventful interims to March 2016 show resilience in recurring revenue and strength in free cashflow, with confidence expressed in the dividend. Mobile pressure in 1H16 was not as challenged as we had originally feared despite well flagged ARPU and margin pressure. Advanced Solutions delivered growth in recurring revenue but is expected to be 2H-weighted due to the delayed phasing of completion of a major order, contributing to a significant, and reassuring, £7.7m order backlog. Management initiatives, to support gross margins ..."
Read finnCap's note on Alternative Networks (AN/), out this morning, by visiting www.research-tree.com
AN.s interim trading update reveals performance in line with unchanged expectations for the year ending September 2016. Advanced Solutions ended the period with recurring revenue 5% ahead of the previous year and a significant order backlog giving confidence into 2H (September) 2016. Despite the evident pressure on ARPU disclosed in February, mobile subscriber numbers of 103k indicated growth in line with expectations. Fixed voice performed in line with management expectations, alongside margin improvements arising from improved commercial agreements. With the ship steadying, we look forward to interims on Wednesday 8 June
Some two million more options allocated to themselves! (see RNS today).
Snouts seem firmly placed in the trough. Och well, they still seem to remember
to run the Company (when not holging meetings about bagging more options).
To me, it undermines my confidence in the Company.
The £4m+ worth of nil-cost options granted 9/3/12 (see RNS), are as
far as I can see not as yet excercised. The options amount to a
substantial chunk of the Comapany's share capital, and therefore
shall, on excercise, substantially affect EPS in a negative way.
Or do I have my facts wrong? Please correct me if that is the case.
Indeed! The tender offer probably helps to hold the share price on
a higher plateau, whereas a special dividend would only have a short
lasting effect. I believe the directors stand to receive substantial
bonnusses when the share price holds up well. The tender offer also
provides the directors an opportunity to let go of part of their shares
without it looking negative. Not stupid, are they now?
p.s. I sold a good while back.
Warren Buffoon - I consider your comments spot-on! Should
the ship indeed be sinking, it shall be sinking without me onboard -
I sold when I started to feel rather uneasy as exressed in my
previous messages. I put a substantial sum on DotDigital, feel
more comfortable there.
I worked in IT for quarter of a century including directorships.
When people went "travelling" it was usually to dodge a bullet.
When senior directors departed ( as the nonexec chairman) it usualy (no, not always) meant that the ship was sinking because it was holed below the water line.
I've been watching these for a while and the company 'seems' good but these director movements are putting me off buying. Gonna stand back for a while.
Chief Operating Officer decides to depart to spend time travelling
abroad.(see RNS today). I wonder to what extend the whopping
bonusses (see RNS 12/3/12) have influenced his decision.
This, together with the non-executive chairman departing not so
long ago, makes me feel somewhat uneasy.
Indeed, one may wonder at that, but then again such unexplained
drops can offer a good opportunity to get in at a discount. Let's
see what happens tomorrow. Perhaps most others down and this
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