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I would imagine a trading update is imminent. We usually get one in early April along with the date for May's full year results.
Plenty of big buys today, someone knows something! GLA
Most of my mates are builders and they are all completely rammed with work - don’t see how speedy is at these levels
I spoke to a couple of different builders doing work on my house last week. Both said they were booked up for the foreseeable. Weather has improved dramatically. I don't see any reason for these shares to be languishing. Yield over 4% now.
Looking good.. GLA
Morgan Sindall slightly upgraded their guidance this morning, so I don't think the sector is struggling. Bad weather might have made for a bad couple of weeks but to be expected this time of year
Just bought a few more for a capital return next year.
If you can ignore the news and SP lows, stock like this should pay handsome profits over the next 12-18 months... GLA
Hopefully the 'numbers and losses' have been built into past results/numbers.
Cheers for update, SP here holding up OK.
Purchased for £9million in Dec 2018, that's an effective way of 'spaffing' money down the drain in short order. I believe the then financial director resigned too when it came to light there were several legal claims against Gleason pending.. something he should have been aware of but wasn't. God Speedy have a history of employing some dumb people !
The Covid pandemic probably didn’t help….
Also in business stick to what you know!
That business went horribly wrong quite quickly, was anyone expecting that news??
Speedy gives notification that its wholly owned subsidiary Prospects Training International Limited (formerly trading as Geason Training) which wound down its operations in 2021 was today placed into creditors voluntary liquidation.
Didn't take too long for a multi million pound acquisition to go south...
https://www.lse.co.uk/rns/SDY/acquisition-a2ftthayzn7pxx3.html
Hi rumbers2 - yes its quite static - frustrating!! but it does seem to hold it's own when the market fluctuates - depending on your SP entry level admittedly. Stressfull enough holding other shares (BP!!!). Good luck
What a total pile of ****e this share has turned out to be. For 9 solid months now i keep getting daily alerts 'Speedy Hire has hit another all time low. I should have ditched this pile of garbage on results day last May when they hit 82p. Now they look incredibly weak even at 54p. To add insult to injury the 60.000 share buybacks yesterday looks utterly pathetic. They need to reduce by millions and quickly if they had any conviction. Management wont be reserved when it comes to dishing out additional share bonuses by millions at the end of the year. This half-hearted buyback will hardly make a dent in the number of shares in issue.
I never thought I'd live to see the day when there's more excitement and positivity on the HSS threads than there is here. That's how bad it's got. And by the way what exactly has Toscafunds action guy Daviid Shearer actually achieved since joining the board with his inflated salary in 2016?
Yes, 28 weeks at this level I roughly worked out. I know theres a cap on the amount they can buy in one day related to the ratio of market cap but this does seem cautious. I still like this co and they are ( hopefully still) a sleeping gem. Does anyone have any dates ahead of interest for SDY?
How hard can it be to click the button and buy a couple of million shares? if the brokers are short staffed I could always drop in and press a few keys for them. At this rate it'll take till 2024 to spend £30 million. I jest but woud like a sensible explanation for the stunted progress in the buyback.Surely the SP must pick up soon as its in miserable territory right now and that's with all the good news from recent months.
Surely Liberum and Peel Hunt must be mopping the shares up at these low levels (56.9p). They were yesterday to the tune of 320000 shares and we are hitting that low again once again right now.
Hopefully the buy back news will prick the attention of new investors, and with a good weathered productive construction summer, drive the SP further up.
At this price I think the buyback scheme is better. Makes dividend increases less costly going forward
40 - 50m nearer to 50 if they get their skates on.
Should reduce 528 million shares down to 476 million... preferably all purchased whilst the sp malingers down here in the gutter sub 58p. I would like to see the total number fall below 400 million .. but at least this is a step in the right direction.
Nice update, should hopefully reverse and underpin the sp.
andsoforth: I agree, at the present price £30 Million will take out a goodly chunk of stock and push up the SP.
Steady as she goes here, with up to £30m to be spent on share buybacks. Hopefully this will underpin the price.