CSS clean seas seafood limited

Ann: Anticipated financial year 2013 results , page-10

  1. 5,898 Posts.
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    allatsea: Sorry, I only just saw your post.

    It doesn't look as disastrous as CSS has before, but still looks like a very bad risk and a definite sell. There isn't any particularly good news, just a lack of recent bad news dressed up as good news. By their own predictions and hopes they aren't going to be profitable for years, and given their track record that's a worrying thing!

    They're not even promising big success now, they're just saying it's wonderful that their fish aren't dying, and acting like typical observations are outstanding. It was puzzling they even gave a graph to shoot their own claims down about fish performance.

    Anyway, if there are no disasters the share price probably won't collapse heavily over the next 6-12 months. Then again, there's no reason for it to increase much other than hot air, which CSS has a history of blowing I suppose. Hot air causing spikes/sucker rallies on a continued downward trend would be my guess.

    I wouldn't be in any way surprised to see CSS in administration before the end of the year. There's a lot I can't say because it would break site rules, but read through all their past announcements, they speak for themselves and you'll see exactly what I mean, and wonder why anyone could possibly want to hold this dog. I see no reason to buy or hold, it seems an extremely bad risk for a small chance of a small return. Why would the share price go up in the near term when the company itself isn't predicting it will make a profit for years, and they have a history of stuffing everything up, overpromising and underdelivering? Holding now still seems completely nuts, but I suppose slightly less insane than before. They're not even attempting to do any revolutionary tuna work now (which is a good thing, it was obvious by about three years ago that it was time to give up), so there is no reason to expect big multiples of the share price. They're not even aiming for that sort of thing any more, they're just trying to scratch out a modest profit with more conventional aquaculture, which to date has been littered with disaster anyway.
 
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