This is the new version of this report, created from a backup.My apologies, but I had technical problems amp; the earlier report corrupted, so had to ditch it.Regards, Paul.Good morning!
A horrible start to the day for me, with another profit warning from LAKE.Lakehouse (LON:LAKE)Share price: 32p (down 33% todayNo. shares: 157.5mMarket cap: £50.4m(at the time of writing, I hold a long position in this share)Interim results, 6m to 31 Mar 2016 (profit warning) – the FD has done a good job issuing the interims reasonably promptly, given the distractions of board room upheaval. Slater Investments, and the founder Steve Rawlings were successful in taking control of the Board. So there might be an element of “kitchen-sinking” in these numbers possibly? (although I don’t see any obvious signs of that in the numbers).I’ve spent all morning so far, ploughing through the numbers, and the extensive narrative. It seems to me that the downturn in performance has, as its root cause, Government policy. Forcing councils amp; housing associations to lower rent by 1% p.a. means that inevitably, they have deferred planned maintenance spending, which impacts LAKE. Also, reductions to…
Disclaimer: Please note all prices are for information only, they should not be relied upon for accuracy or trading. All prices quotes are based on CFD prices and are similar though not always identical to real exchange prices. STOCKTRKR or anybody connected with STOCKTRKR will not accept any liability for loss or damage arising from use of any information/commentary/charts or articles which is provided 'as is' for educational purposes only, nothing contained on this website should be considered as investment advice - please seek proper investment advice from registered financial broker or institution if you wish to trade on global markets and ensure you are familiar with the risks.
