Very odd price behaviour today. Backwardation before the interim RNS and the price held despite report losses being double that of the previous year. It's enough to make someone think there is something going on behind the scenes.
Upon reading the interim report I picked up several encouraging signs. As you may have guessed I'm beginning to grow more enthusiastic about this company lately and I will be adding after Christmas. Here are a few one-liners:
refusal to accept business which would have further depressed margins
the business is in better technical order than ever before and our product offerings are at the forefront of market needs
Poland has got off to a profitable start
We are already seeing customers returning to us, not simply on price but on our ability to provide complete solutions to their needs
interim arrangements have been put in place with the support of our bankers whilst a longer term re-financing will be completed in early 2007
Value added services
We have identified three companies which would benefit from coming together with us and, subject to price, are hopeful, that we will move forward in the New Year on these discussions
The key to our future now, is very much about revenue. We have addressed this by appointing Tim Cronin as our Sales Director for the core business. Tim was the Managing Director of Orga Card Systems and has an excellent track record
We have never been so well equipped to deliver success as we are now. My team's job is now very clear - deliver profitability and high investor returns
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