The minor rise in share price following the latest announcements...

The minor rise in share price following the latest announcements is likely to be short-lived. Have yet to see any evidence of a turnaround in fortunes for FFF although such has been promised on numerous occasions over recent years. Profit of $3m for 6/2012 year against $6m for 6/2011 doesn't sound like progress. Yes, there have been recent management/board changes and these are well overdue. FFF seems to have been run as a "boys club" with the top boys creaming off a steady income stream while minority shareholders have been left in the "don't bother about them" basket. Directors payments totalled around $1m this year (2011/12)and much the same last year - seems a lot for a company only making $3m. Yes, one major shareholder/director with over 16% of the shares on issue and substantial loans to the company probably doesn't want to see things go belly up. The issue is that the businesses purchased have been cash cows but FFF seems to find a way to run them down rather than foster their continued health. There is the carcass of a good business (FFF has a loan portfolio of around $20b) and it isn't beyond resurrection, but something positive needs to happen quickly before the carcass becomes just a few bones. I believe FFF may have been building up its loan portfolio in the hope that a white knight might ride into the picture to buy the business. That is unlikely to happen unless there is a share consolidation (as mentioned in an earlier post).
I do not hold stock but have in the past and hence still keep an eye on the company and its share price.