Another downgrade today. EBITDA now 8 Million down from 13 Million.
by my rough calculations that will be a wafer thin NPAT of around 400K, Without taking into consideration any loss from current foreign exchange contracts....
Any profit this FY would be a good result all things considered.
Question, which company has more disenchanted shareholders? MCE or BBG? - Probably BBG but only just.
by my rough calculations that will be a wafer thin NPAT of around 400K, Without taking into consideration any loss from current foreign exchange contracts....
Any profit this FY would be a good result all things considered.
Question, which company has more disenchanted shareholders? MCE or BBG? - Probably BBG but only just.
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Wow, 0.80, I remember when this was $8....
skc
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Well BBG used to be $15 and now ~15c so only 1% of equity value left.
MCE reached ~$10 at its peak but now at ~80c still has ~8% of equity value.
So MCE vastly outperformed on a relative basis.
P.S. So funny closing matches (FTSE and S&P rebalance today) that saw MCE closed at 82.5c...
It still ended up on a day, it could have been worst.
Buyers moved in near the close.
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At least MCE are consistent.
Consistent in so far as they always manage to underperform and disappoint
The only saving grace is that at least the Aussie dollar is dropping so they should benefit from that.
Consistent in so far as they always manage to underperform and disappoint
The only saving grace is that at least the Aussie dollar is dropping so they should benefit from that.
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Report out tomorrow, keeps fingers crossed
I am afraid you are going to be disappointed.
More of the same from MCE.
And the forecast for the next year is for more of the same and based on previous forecasts that probably means they are going to be worse than this year.
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Does anybody know why MCE is up 75% since mid November?
I haven't ever followed this stock previously even, when it was a market darling.
There was an market update released to the market on the 9th of this month. It appears from having had a quick look at it and it appears the company is optimistic about the future. This quarterly update (Q2 FY14) can be read by clicking on this link:-
http://stocknessmonster.com/news-item?S=MCE&E=ASX&N=663811
I've read there quarterly update and its no different to their last 5 or 6 quarterly updates.
tinhat
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Indeed. Every report I have ever read from this company has been upbeat. I still hold MCE shares despite the massive loss I have carried on them (mind you I took most of my profit during the Roger Montgomery ramp) just to remind myself of how expensive holding onto losers can be - and especially that a stock coming off 50%, 100%, 200%, etc... from what you bought it for never makes it look like value.
I keep the $40,000 of losses in this stock on my "balance sheet" - a holding within my online broker account - even though I couldn't give a rat's **** about them, just to remind myself of the value of this lesson. Not that I haven't made similar mistakes with PEM, PNA, and more.
skc
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FWIW I think MCE is one of the few turnarund stocks that I am keeping a pulse on.
It has the classic manufacturing high fixed cost operational leverage. When the tide turns and they start running the plant at full shifts and capacities, another Roger M will come and spruik them like there's no tomorrow. The probability of a turnaround is high, but the timeframe is highly uncertain (and could be very long).
It is not without risks of course. While their balance sheet is not stretched, a prolonged downturn may see them requiring fresh capital. Then there's a chance that they've simply lost competitveness forever. So as always keep position size within desired exposure limit.
Yes Roger Montgomery always tells people how great a stock is after its run also he seems to let people know he sold his stocks at there high points months after its tanked.
In regards to MCE I'll be a happy person if its can claw its way back to $3.
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Hi Clinta44,
I tried to copy all the announcements made last year to the ASX but unfortunately I only was only able to capture what you see
. At least it will give you an idea when they are due out...
Gee, I was just struck by lightening and had a thought why not try their announcments page of Matrix's own website.
http://www.matrixengineered.com/en/#/investors/asx-announcements/
Regards
PB
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Possibly on the move again!!
