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Clyde Marine plc

Our Albatross has crash landed

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Company Research Database for : Clyde Marine plc
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Hampshire Hog
Premium Member

Registered:
Aug 2004
Posts: 17

Hoorah.......Arthur Macmillan has resigned as CEO of Clyde Marine after almost bringing our Company to ruin. No more do we have to put up with his rotten remarks which reduced Havant's morale to a all time low causing some key players to jump ship.

posted 09-01-2006 15:06

scotland
Premium Member

Registered:
Jan 2001
Posts: 6371

Hampshire, these numbers look truly woeful to me as you warned us - thanks! I had thought maybe they might be a punt asset play, but clearly the debt is a massive concern.

Any hope of a turnaround following management changes?
__________________
There was so much handwriting on the wall that even the wall fell down.

posted 14-03-2006 15:39

sydneygasco
Unquoted Angel

Registered:
Mar 2000
Posts: 153

Sorry for any holders.
This is a company I have vaugely considered over the years.
Glad I have left it alone.
Perhaps if it drops considerably from here, it might be a recovery play.

posted 14-03-2006 18:52

scotland
Premium Member

Registered:
Jan 2001
Posts: 6371

Woof woof.
In the year to the 30 June 2008 the Group made an operating loss of £1.4m. This compares to an operating profit of
£2.1m in the year to June 2007. After interest and tax the loss attributable to shareholders was £2.0m compared to
a profit of £0.9m in the prior year.

The loss per share was 27p compared to profit per share of 12p in the prior year.

At 30 June 2008 shareholders* funds decreased by £1.8m to £14.4m (191p per share), which includes £7.0m for brands.
Net debt rose by £2.0m to £11.0m.

__________________
There was so much handwriting on the wall that even the wall fell down.

posted 26-09-2008 16:26

gerrard
Member

Registered:
Feb 2009
Posts: 2

I heard they are out of cash and going to move all productions to Far East where they already manufacture windlasses... very fragile financial situation.

posted 16-02-2009 15:39

scotland
Premium Member

Registered:
Jan 2001
Posts: 6371

No surprise to see them proposing to leave Plus, to a matched bargain facility. heavily reliant if I recall for years on intangibles and with imho successive managements incapable of balancing the books.

There will be few tears about this one I'd expect!
__________________
There was so much handwriting on the wall that even the wall fell down.

posted 22-04-2009 14:51

gerrard
Member

Registered:
Feb 2009
Posts: 2

Lewmar has done it, they are out from Plusmarket... why? first of all... and second, which future now?

posted 18-05-2009 11:46

jayjay2202
Premium Member

Registered:
Sep 2009
Posts: 1

Can the new Chairman bring the decline into reverse?
Only if he builds the management team and supports improvements in the management of manufacturing in the UK.
How can a company with a good product in a less cost sensitive than most marketplace make such a hash over so many years? Interesting case study...

posted 14-09-2009 22:29

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