Market's view on Accsys Tech
Published on April 2024
- There are discussions about the concerns with frequent director resignations, questioning the internal stability and insights they might have which are not public.
- Several stock watchers have highlighted the upward trajectory of the share price compared to the beginning of the year, with a significant 30% increase noted over a month.
- The Arnhem plant has reportedly shown impressive results, with expectations for the Kingsport plant to start contributing significantly to the figures by 2025.
- Concerns were raised about the viability of the Hull tricoya plant, with suggestions that it might be abandoned due to its ineffectiveness and the high costs associated with dismantling it.
- A profit warning was issued, coupled with a going concern statement that noted rising debt and significant management departures including the CEO and CFO.
- The company’s trading update was positively received, indicating EBITDA expected to be moderately ahead of the previous guidance, which projected a doubling of the underlying EBITDA year on year.
- There is skepticism about the financial reporting quality, particularly the lack of detailed financial metrics like revenue, margin, and returns, with one watcher criticising the report for only mentioning volume metrics.