Temporary hotels: Snoozebox Holdings (LSE: ZZZ) provides “portable hotels” for large events, such as the British Grand Prix and the Glastonbury Festival. It floated on Aim on 1 May 2012, raising £12m from investors, but despite acres of glowing press, things haven’t gone particularly well. Revenues were disappointing, profits nonexistent and the chief executive, finance director and chief operating officer all stepped down.
Late last month its latest chief executive quit after just a year. Shares are down by 88% so far in 2016, and by 93% in the last 12 months. Despite everything, the management team remains optimistic. “Growth prospects remain exciting,” it claimed in its latest interim report. “The development and execution of the company’s strategy will result in a successful and profitable business.”
Solar power: PV Crystalox Solar (LSE: PVCS) manufactures silicon ingots and wafers for the solar energy industry. It listed on the London Stock Exchange in June 2007, but overcapacity among Chinese solar firms dented the company’s profitability, and the share price suffered as a result, falling by more than 95% from its peak.
In late 2015 the board announced it would undertake a “strategic review”. The firm ceased using Japanese subcontractors for manufacturing, and concentrated on in-house production at its German facility. Whether this restructuring works is yet to be seen, but investors seem to be betting that it will. The share price is up 41% this year, and by 23% in the last 12 months.