Fair enough and good luck with your investments elsewhere. I am still sticking it out and have to believe that this will turn the corner. Still convinced the drift is due to a persistent large seller. Value has to out eventually.
Hi Interesting. If you look at the note immediately below the table on trade receivables you will see that £15.7m was paid by TANGEDCO after the period end re sales made May 2015 - July 2015 and Oct 2015 - March 2016. Furthermore, in the half year report dated 6/12/16 it is stated that "Approx £19m has been collected from TANGEDCO since March 2016 and recovery of old amounts continues to progress." Accordingly, I don't personally see this issue as cause for significant concern.
Hi Andy. I'm no expert but I think the issue might be related to the delayed payments. If you go to the 2016 OPG accounts (on their website) and look at page 66 and look at trade receivables; there are £56.7m in total of which £25.5m over 180 days. Perhaps this is what has caused the selling and the change in Shore Capital rating. I do note that none of the trade receivables are shown as "impaired" but the figures are a bit concerning imvho. I continue to hold but won't add until that is resolved.
What bad news do you have in my mind Totalnew? I don't remember too much of that myself.
I must say I think the Company's performance over the last couple of years has been good.
The share price performance has indeed been poor, but that is down in no small measure to the consistent selling pressure we have been seeing for some time now.
According to my broker's website the P/E ratio for the year ended 31/3/17 is 7.8 reducing to a mere 6.2 in the following year. A bargain. Personally I am looking forward to the results and like Andyforster, I am staying put. As soon as the selling drys up, this will turn, in my view, but good luck whatever you decide.
Andyforster ... a lack of basic information, together with the drifting of the SP is giving me the jitters, so I am thinking about cutting my losses. am concerned that they may suddenly Spring some bad news come results time, as they seem to do quite frequently. I am trying to rationalise what I think 'good' means for these shares, versus what I think 'bad' could be. I struggle to see sufficient upside over a 5 year horizon, based on their performance over last couple of years. I haven't decided for sure yet, but I may cut my losses.
A little bemused by the recent selling, 4th qtr results due in May which will only show increase in revenue, decrease in debt minus the debt taken for the solar project at Karnataka which is due for commissioning asap. Two massive buys went in on the 6th & 7th for £98k and £22.5k
You don't spend that kind of cash if your not 100% positive on your position.
Would be good to get others opinions but I'm going nowhere
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