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It will no doubt affect FTSE, but we all know that US markets have been too hot for too long - Tesla, Amazon etc have all be silly prices - FTSE we dont have these types of companies - we are old school businesses in general - many UK listed entities should be higher and if US collapses, we could see that cash moving onto UK equities in medium term
In the meantime keep some cash as there could be some bargains - CPI should have no effects from USA (but it will in ST) so if I dont get my sells in ST, I am still happy to hold for MT - this is a miuxture of trading cash and LTH cash - either way, Im in profit as I bought back most for a few % less than I sold it - lets see what happens EoD in USA then we worry about UK tmrw!
GLA
Dow tanking like crazy, not seen this for a while. Well not seen it drop by more than 700 points in a day thus far. Markets getting jittery again...
Not Capita's fault if the Government has krappy customers. It's easy for Government to pass-the-buck, rather than lower their thresholds.
Read freely the extracted pdf file 20th September 2021 - [Call to strip Capita of benefit payments role after firm fined £2.3m for failings.] https://smallpdf.com/result#r=c8044163c86d80edef4faa13ad3d83a8&t=share-document
Hi Know0, of course Capita has been doing everything possible to move forward, but we're still getting caught out by their historic contracts biting back theirs and ours but.ts. too. I hope that news like the one below becomes less possible as they improve their past image.
20th September 2021 - Call to strip Capita of benefit payments role after firm fined £2.3m for failings. Are there any more skeleton's to come out of capita closet? I wonder! https://www.belfasttelegraph.co.uk/news/northern-ireland/call-to-strip-capita-of-benefit-payments-role-after-firm-fined-23m-for-failings-40867550.html
belfasttelegraph
Sorry - hit send too quickly!
This is all IMHO, but we know the turnaround is working and profitability is now good - need to finalise the refinance and get that other disposal sorted (circa 200M) and we can all sit back and watch the rise!
GLA & please DYOR
Bought some of my 50p sells back today at 48.2p
Seems to be a decent base at 48p but ready with a load of cash if it drops to 46p - market sentiment is the only thing holding it back now - think we wouldve hit 50p again today/tmrw - lets see where general market goes, but always happy to hold CPI at these prices as when we do get that breakthrough, 60p will come pretty quickly then a slower rise to 70p
The last update was the most positive ive seen from CPI since covid hit in march 2020. At that time the sp was £1.50p. Cpi had restructured and were about to move into sustainable cash generation. Covid clearly set that back.
However the last report suggest they are now back on track with a big improvement in performance.
Ive cherry picked a few comments from the recent presentation that have pricked my interest.
1.Capita reported their first organic revenue growth for six years when they reported HY numbers on 6th August.
2. Revenue performance in the first half was driven by winning new contracts such as Royal Navy training and not through Covid recovery, although the bounce back from Covid has started and led to stronger Q2 growth and is expected to benefit sales in the second half.
3. The company is more confident now about their ability to win contracts at attractive margins and in H1 won £2.6bn of business, an increase of 70% on last year.
4. Good progress has been made this year improving margins (margins now 11%) and profitability, the company has reported the first revenue growth for 6 years, the two new core divisions are operating well, the balance sheet restructuring is on track, and they could be debt free (pre IFRS 16) by the end of 2022 and the company will be generating free cash flow in 2022.
Ive traded cpi twice in covid but wasnt convinced to buy and hold. Is it now time to buy and take a slightly longer term view. The price has risen from 35p -50p following the update and appears to have been consolidating high 40,s low 50,s for nearly 4 weeks now. Looks ready to kick on assuming no bad news is forth coming.
I dipped my toe in friday afternoon but looking to add monday after looking back over recent reports and presentation. Looks a far safer investment now with potential for a recovery back to pre covid levels over the next 12 months? (200% uplift to get back to pre covid)