My hunch is Porta will be one to watch in the year ahead.
It has some wily investors involved such as Bob Moulton who I can't believe will want to see this one go belly up.
I have noted another laggard in the sector - Huntsworth - has suddenly perked up and I see the Porta sp rising either as a result of consolidation in the sector or improved performance.
It has finally started to focus on organic growth and getting its companies all singing in unison.
What this company needs to do is shut down or dispose of its non-profit-making bits, clear out a lot of the dead wood in its London office, and put the guy in charge of the Australian operation - which actually makes money - and Red Leaf - another money maker - in charge. The rest are hangers on from the disastrous early David Wright days.
It is interesting. Sunday Times talked about his other interests over the weekend. I suspect he is - like the rest of us - very impatient with this one and wants some kind of satisfactory outcome. This share became exciting the moment David Wright finally pottered off into his long overdue retirement.
Not a busy 'board' this. Write up on here by Edmond Jackson 16 Oct 2015 "insider stake-building merit attention " Directors buying significant amount of shares. around the 9p mark
I see mackackoo was posting around that time..
The new management structure they have put into place clearly is not working.
And - as you point out - nobody in it has sufficient confidence in their abilities to buy shares even at this level.
Emma Kane of Red Leaf is the one person involved in this outfit who has vision and a great track record - she would be the obvious person to take over.
To think David Wright - who took a huge salary out of this company - once promised to get the share price up to £1 double quick......
Porta isn't an intrinsic basket case, but it clearly needs someone inspiring at the helm now more than ever. Emma Kane?
Or is everyone happy that this company that promised to make shareholder value its number one concern is still dragging along the bottom of the sea?
What this bloated top heavy company needs to do is to announce some contract wins, and, if it can't do that, it needs to announce some of its executives are leaving.
Executives in this company are never sacked but new ones are brought in to work alongside the old ones when they fail, and when they fail too, still more are brought in. This company has layers upon layers of fat now.
This is one truly awful share. Short of some announcements of big client wins, I don't want to read about any more big expensive hires. What I would actually like to read about is to see some of the useless time-servers this company employs fired.
Very good news and a vote of confidence in Steffan. He is driving fees into Porta and David can take a back seat. Bob stepping down might make GG job easier to refinance debt at a more sensible coupon. The shares are up 8% at the moment but this is noting to what they are going to do. Talk about oversold. If you know anything about the Comms business and the landscape you have to say that Porta subsidiaries should be winning serious new fee income post Brexit.
The top people keep voting themselves bigger and bigger salaries, without bringing in the business. A leaner, fitter Porta - where people are judged purely on the business they bring in - could be a big success, but it needs a pretty ruthless clear out of senior staff and a real hard look at why head office costs are quite so high.
Put Emma Kane in charge of Porta - and do so immediately - and the share price will recover and quickly.
Put another one of the fat old men at Porta in charge of Porta and the shares will be suspended within a few months at this rate.
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