After taking over Parkman, and taking Parkman Chief Executive Richard Cuthbert, Mouchel's share price has dropped, fuelled mainly by the reported costs of the merger. Preliminary results for the year to July will be published in October. for

However the merger costs are 'one-off's' and the new organisation is stronger (and claims it will make further acquistions). Is it ready for take-off in the run-up to the publication of accounts?

In auction +9.8%

Wednesday November 30 =

The beleaguered support services group Mouchel faces a pivotal moment this week. The company is in talks with banks about a potential breach of covenants on its 170m of bank facilities and should update on these discussions when its delayed annual results are published. Mouchel, which maintains UK roads, rebuffed takeover approaches from Costain and Interserve only to reveal in October that an actuarial error will wipe 4.3m from expected annual profits

Up 25% this morning - although on thin volume.

Now with a bit more volume +54.2%

wow.

In auction (again) +37.5%.

Blimey! anyone been trading this one here?

Preliminary Results

Financial headlines


2011 2010 % change
Revenue GBP551.4m GBP632.6m - 13%
Operating cash flow before
exceptional items GBP39.3m GBP70.3m - 44%
Underlying operating profit(1) GBP15.7m GBP41.2m - 62%
Profit before tax and exceptional
items GBP5.0m GBP30.5m - 84%
Loss before tax GBP(64.8m) GBP(14.7m) - 341%
Underlying operating margins 2.9% 6.5%
Adjusted earnings per share (0.5)p 18.9p -103%
Basic loss per share (61.7)p (12.1)p - 410%
Order book GBP1,425m GBP1,824m
Exceptional items before tax GBP(69.8)m GBP(45.2)m
Net bank borrowings GBP87.7m GBP83.4m + 5%

The Grand Old Duke of York...... in auction -28.6%

Appointment of Chairman

Mouchel announces David Shearer as Chairman
London, 6 December 2011
The Board of Mouchel Group plc is pleased to announce the appointment of David Shearer as Chairman. He will take up his appointment on 9 January 2012 at which time Sir Michael Lyons, Interim Chairman, will step back into his role as Senior Independent Director.
David is an experienced non-executive director, board level adviser and turnaround specialist. A former senior partner and Executive Board member of Deloitte LLP, he led the successful restructuring of Crest Nicholson plc in 2008/9 as Chairman and of City Inn Limited in 2010/11 as Chief Strategic Adviser. He was also involved as a non-executive director in the turnaround and refinancing of Renold plc, STV Group plc and Superglass Holdings plc.
He is currently Deputy Chairman of Aberdeen New Dawn Investment Trust plc, Senior Independent Director of Martin Currie ( Holdings) Limited, Renold plc, STV Group plc and Superglass Holdings plc, a non-executive director of Mithras Investment Trust plc, and was, until early 2007, a non-executive director of HBOS plc.

In auction -11.6%

Prudential down to 7% from 8%.

Extended auction - down another 9.1%

Isn't this fun - currently up 17.3%

Not if you bought 'em at the price I did it ain't .. have some respect please? -):

Stan - you are talking to someone that owned JRVS!

Thank you for your kind understanding Skinny.. And commiseration's at your sad loss as well -):

Wonder how many directors will be taking up the thousands of 19p options they voted for themselves when the SP was 300p+ and employees were being asked to stump up near market price for their 'sharesave' issue? (Strangely, all bar a few employeees told them where to stick them :-) )

Any guesses for the cut-off before a winding up order? 4p? 5p?

Doomed ?

http://www.bing.com/videos/search?q=dads+army+were+doomed&mid=6A8870D22D0050F274DA6A8870D22D0050F274DA&FORM=LKVR#