Contrariwise
02 Dec 2016
Price surge Anyone know whats going on? Very low volume I notice. Bid? I hope......
Simbrad
27 May 2016
Stockdale's note from this morning is up on Research Tree: "Northbridge’s AGM statement reiterates its 18 April preliminary results in stating that market conditions in Oil & Gas remains challenging and “it is still too early to forecast any material changes to the likely full year out turnâ€. We are not changing our estimates of positive EBITDA but an underlying loss before tax of £1m for 2016. However, the statement emphasised the potential benefits of its operational gearing and strengthened balance sheet when the market does improve. ..."
mcescher
30 Mar 2016
Interesting look at intrinsic value of Northbridge Industrial Services Looking like a solid dividend payer [link]
numberbiter
15 Mar 2016
Re: had a nibble at 75p As long as it is only a little nibble, you should be OK, but I don't think you be able to have an expensive holiday on the proceeds.
lambrini girl
04 Feb 2016
Re: had a nibble at 75p a good entry..weak buy..
The Millipede
17 Dec 2015
Re: management support Well good to see the covenants did not present any great problem. Call it a Christmas hunch if you like: I have bought my shares back. Wouldn't go so far as to invest in oil directly but I figure this company is now heading out the other side.Generating cash, trading as per expectations, covenants sorted....... IMVHO.
The Millipede
16 Nov 2015
Re: management support More or less. Good enough for me and certainly have no vested interest in it falling back. Hope it keeps working out here for you. Cheers,
CASTLEFORD TIGER
10 Nov 2015
Re: management support I suppose you got about 10p profit.....not bad as %.I am now sitting on a 25% gain in a very short time ( the shares adding a further 8% today)Tiger
The Millipede
06 Nov 2015
Re: management support True, but they are just buying off an institution selling down...... which implies had the directors not bought stock, this would have tanked. I have banked profits.
CASTLEFORD TIGER
03 Nov 2015
management support heavy buying has lifted the price.tiger
The Millipede
27 Oct 2015
Re: had a nibble at 75p I know a strong buy flag on a stock in this position Is highly likely to end up with the poster looking like an utter t I t as the stock price dives off into oblivion...... but here goes. I honestly think the fears are over done. I know this contradicts my last post and I can not be bothered to post long reasons why I changed my mind but, looking at the balance sheet, the debt seems manageable in the context of this companies assets and cash generation. Moreover, on the whole banks genuinely are being supportive so, given that trading actually is not as horrific as the results make it seem, I would expect the covenant test not to be a big issue.The successful outcome of which might generate some interest.Like CT, I took up a small holding this morning. Let's see how it pans out.
The Millipede
25 Oct 2015
Re: had a nibble at 75p Well, I agree if they make £2m to £3m a year £14m is probably too low. But right now they are heavily loss making, have been quite slow in recognising the changing business environment and seem heavily exposed to precisely the sort of major oil companies that are cutting back...... when actually a lot of producers worldwide are ramping up to maintain market share. Capex slashed. Can the business even operate without it? We do not have any good data to guide us there.So, it could be just the oil price causing temporary problems but it could also be management competence and a defunct business model. Maybe it will all become clearer at the next results?
CASTLEFORD TIGER
23 Oct 2015
Biscuit B I assume you are still in these?Tiger.
CASTLEFORD TIGER
23 Oct 2015
Re: had a nibble at 75p With shareholder funds at 3x market cap the business just needs stability.clearly historic profits and assets are old hat now but a slimmed down company may make 2.00 to 3 million a year and market cap at 14 is too low.Its not about trust now........I agree that's gone.Tiger
The Millipede
23 Oct 2015
Re: had a nibble at 75p Oh I see what you mean Biscuit. Yes I agree, although I think it is also true thing can change very quickly - just because the directors see no change in operational performance does not mean the market is not pricing in something they have not even thought of.The philosophy behind these announcements is bogus anyway because it assumes markets are efficient (and the financial crash taught us they are anything but) and that last week's share price was a rational conclusion based on unemotionally looking at all available evidence. I do not believe that is true for a second, so there is no reason why 80p - or 20p for that matter - does not more rationally express the true state of this business.
