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Speedy Hire Share Chat (SDY)



Share Price: 57.00Bid: 57.00Ask: 58.00Change: -0.40 (-0.70%)Faller - Speedy Hire
Spread: 1.00Spread as %: 1.75%Open: 58.60High: 58.60Low: 57.00Yesterday’s Close: 57.40


Share Discussion for Speedy Hire


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Nohearts
Posts: 143
Off Topic
Opinion:No Opinion
Price:58.00
RE: RNS
Tue 22:10
JV£s
 
Nohearts
Posts: 143
Off Topic
Opinion:No Opinion
Price:58.00
RNS
Tue 22:09
Sneaked it out before the close.
Carillion effect £12m annual revenue, £2m receivables write off. Less whatever was to KV£s

Better than I feared - not material effect on full year results
Nohearts
Posts: 143
Off Topic
Opinion:No Opinion
Price:58.60
Carillion fall out
Tue 16:24
Looks like not too much damage done (hopefully).

But good example how share price can over react on bad news - 10% yesterday seemed madness
Maccaroo
Posts: 1,167
Off Topic
Opinion:No Opinion
Price:56.30
RE: Carrilion fallout
Mon 13:01
Not good news but could be worse we will finish today as we started around the 60p give or take 0.5p
rumbers2
Posts: 23
Off Topic
Opinion:No Opinion
Price:55.20
RE: Carrilion fallout
Mon 10:43
Liberum have just said although this news is "unhelpful it is not as bad as first feared. Despite the potential write-down of receivables that will result we believe the long-term impact on financials will be limited. This reflects the likelihood of JV Partners and other third parties taking on much of Carillion's workload, as well as the flexibility within Speedy's own operations" the broker adds.
The broker added it sees Speedy's immediate share price reaction as overdone.
RedradScouser
Posts: 5
Off Topic
Opinion:No Opinion
Price:54.80
RE: Carrilion fallout
Mon 09:50
The other issue to consider is the amount of equipment that is likely to vanish! Also, any contractors picking up any Carillion jobs may well be signed up with others such as A Plant, Gap etc

The RNS ought to eliver some news today one would hope given the gravity of the situation with such a prominent customer to give us all an accurate insight to their plight
Nohearts
Posts: 143
Off Topic
Opinion:No Opinion
Price:54.70
RE: Carrilion fallout
Mon 09:23
Speedy Hire were Carillions preferred supplier - and had been for at least 9 years afaik.

They will clearly have a bad debt write off which will be significant.

I wouldn't be massively worried about the long term hit on revenue, the margin will have have been rubbish & they will pick some of it up with re-tenders.

If the bad debt is as bad I expect, they should really be making a statement today or tomorrow - it would be pretty remiss not to know the exact number already.
rumbers2
Posts: 23
Off Topic
Opinion:No Opinion
Price:54.30
RE: Carrilion fallout
Mon 09:01
Surely many of these contracts now in limbo will be re-tendered pretty quickly with Government help, otherwise its going to backfire quite spectacularly on the Conservatives. I note other companies like AHT and even HSS haven't reacted negatively at all.
Nohearts
Posts: 143
Off Topic
Opinion:No Opinion
Price:54.00
RE: Carrilion fallout
Mon 08:28
I think 10% fall over plays it, but just another example in a long line where SDY look back on track before either scoring an own goal or suffer from external events.

My guess is close today around 56-57p
Nohearts
Posts: 143
Off Topic
Opinion:No Opinion
Price:54.00
RE: Carrilion fallout
Mon 08:24
To be honest, I'm very surprised its only £8m.

They talked about 8 months ago about a 3 year extension with Carillion that was worth up to £45m over 3 years.

Lets say, £13m per year, probably 60 days terms but extended recently more like 4 months, £4 - £5 m hit to bottom line ?

Might be mitigated if some of that debt is to Joint Venture and they have joint & several written into contracts.

Might be worse depending on how many small subbies take the knock as well.

Just thankful that they moved away from the strategy of focusing on the big customers.




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