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I imagine it's simply light hearted optomism which I support. Can't explain the rises and falls sometimes.
Why has this current board including the CEO not got the CORE range going . We have seen most of the gimmicks over the years that really come to nothing . Get the sales team working on CORE products as its the only way to flog this dead horse . You judge the strength of a sales team on sales /Hires not the number of visits to non existing people . Go back to what you where good at Speedy supplying customers with the newest equipment , equipment that works , and delivered on time . It's not Rocket science , all depots having their own sales rep and if the depots core products don't move then you look at swapping the salesman over to another more successful branch as it may just be he / she doesn't fit in .It shouldn't immediately be seen as being a bad rep , but move them to help them to become better reps PUSHING CORE PRODUCTS.
On what grounds?
...
Speedy Hire Named Financial Times Europe Climate Leader
https://www.construction.co.uk/construction-news/307649/speedy-hire-named-financial-times-europe-climate-leader
Re-reading the RNS trading update, we ought not to have fallen so low, but fortunately I topped up at 23.7p (okay so this was on the back of top ups at 26p, 29p, 35p).
Personally, I think we will see a continued rise into the June results back towards the 35p with positive market news flow, anticipated rate falls (not actual as I think we're now looking at August) and growing confidence. I agree MadMat, we will be paid our dividend from the trailed £20m in free cashflow.
Plenty of reasons to think we've bottomed out and we are on our way back up.
Also, if they we're expecting to not pay or reduce the dividend then it probably would have been announced by now.
... and it's not been announced so chances are that it will be paid.
Ok, Cheers..
Cant remember the exact numbers now but they looked to be about 10-15x the avg daily volume yesterday (according to my Stocks app anyway)... Struck me as very odd.
It was always going to jump as this is a good business and once the macros come back to the construction Industry it will fly.
Does anyone have an idea what drove Mondays volume?
I only have a very small holding here, jumped in for a quick 10% and got trapped as it went sideways....
Other than recent Director buys I'm a little stumped at the volumes...
Some significant buy and sells gone through today which has been reflected in the SP.
Corporate b/s.
Thanks for posting that.
Against a tough trading background in FY24, Speedy Hire has taken steps to build a platform for long term sustainable growth through the launch of its Velocity strategy. While progress has been more strategic than financial in the year – although we note positive underlying cash flow was achieved - new business wins, the acquisition of Green Power Hire and a transitioned B&Q model all suggest that profitability is likely to move ahead again from FY25 onwards.
Speedy’s FY24 pre close statement echoed January’s trading update, pointing to successful new business wins with National customers but also some mobilisation and adverse seasonal effects. Stated group revenue of c.£420m infers that H2 was slightly ahead of H124’s reported £208.5m. While closing year earnings expectations are likely to nudge down further, the prospect of year-on-year progress from FY25 onwards appears to be intact.
The launch of Speedy’s Velocity strategy in FY24 laid out clear group financial (FY28 revenue of £650m, EBITDA margin 28% with conservative gearing metrics) and operational ambitions (to deliver sustainable growth from an efficient digital and data-driven platform). The primary enabling actions are expected to be in place by the end of FY26, though there is clear capacity to accommodate an earnings recovery and growth beginning in FY25.
Notwithstanding market conditions, the company has taken clear strides in FY24 towards achieving its five-year targets, investing accordingly.
Link to research note: https://www.equitydevelopment.co.uk/research/building-a-robust-platform-for-growth-fy24-pre-close-statement
It sends a very strong positive signal to the market to see the directors on a buying spree
And still they're BUYING
I Don't blame them I'd be buying too (to average down) if I had funds.
They're all buying now :)
Looks like we hfinally have some insider buying to the value of £20k
It will cost approximately £13 million to maintain the current dividend. Being optimistic I reckon they wiil maintain it but not increase it.
Any other direction of travel admits a failure of the Velocity growth plan.
End of year coming up but results in July?
Https://www.investorschronicle.co.uk/news/2023/11/23/profits-down-at-speedy-hire-as-low-volumes-persist/
ok, this article is from Nov last year but it says,
"Broker Peel Hunt maintained its full-year Ebitda forecast of almost £110mn following the release of Speedy’s interims, although it did reduce its pre-tax profit expectations to £30.5mn from £33.5mn. "
10% lower would be about £27mn, which is still about 20 times better than last year as I understand it.
Did the article mention about cutting the dividend Simon? The yield was so good it was the main reason for many investing here.
The article in the Times said profit forecast was 8-10% down on expectations.
Didn't have another warning RNS, looks like institutional selling. Martin Currie Investment Management Limited is reducing its stake. Could be an interesting recovery play from here.