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According to Stuart Morgan, (Group Investor Relations) CPI normally do a Thursday, but Serco are due to announce then.
Theory: IIs can buy over the weekend or at least set positions. So it could help big players I guess.
Just a theory
Speculation to keep the banter going.
what difference does it make?
Any theories out there why they picked a Friday to issue the RNS on Half Year Results?
Seaofdebt - great to see you here and great post
Very similar to my forecast to 30/6/21 except
1. VAT deferral I believe had to be paid within a year of deferral, so assumed paid by 30/6/21
2. Assumed retained profit in period that is converted to cash (and better cash collection) will be greater than exceptional costs in H1 - so hoping for circa 50M extra cash there
Axelos cash will definitely not be received in H1, but it will be there soon
Totally agree with paying off those PP notes and I hope that the RCF and other loans will be easily refinanced at much better rates over 5-7 years
Any further disposals then will be able to be used (with retained profit) to kick off talk of dividends which is what will make this SP move greatest IMO
GLA & DYOR
Am expecting some good news on debt, although much of this should be factored in. With net debt (post IFRS 16) starting at £1.08bn on 1st Jan and sale proceeds of £344m from ESS (the £184m from Axelos probably won't have completed by HY), it should be down to a little over £0.7bn or £550m after Axelos completes. The VAT deferral is £119m which will need to be repaid by March of next year, so that should really be added to effective net debt.
Also, with £440m of the £765m of Private Placement Notes maturing in the next 20mths, and CPI stating in their FY20 results "The Group intends to extend the average term to maturity of its debt, and thereby reduce refinancing risk, by issuing new
long-term debt instruments in 2021" I'm hoping that the £440m PP notes will be repaid, the rest will be refinanced/extended and the RCF will be lengthened.
Possibly also more news of disposals as someone already mentioned, particularly as their target for 2021 has virtually been met with ESS & Axelos, and their market update in June said that preparation for further disposals "is also progressing well" so it shouldn't be tough to beat on the upside.
Overall, I think the share price bounce is justified as there's ample room for good news on the 6th, but I'm long already so have an axe to grind like most people posting here!
36 pence paid now. Top recovery play here. Big returns for the opportunist..
Let's hope so. Good luck everyone. (welcome back Night_watch)
Moving towards 40p is only for a start.....should never been that low IMHO....but you can't argue with facts, you can only take advantage of it if you can.....accumulate and hold for rewards is my personal agenda,I think it will come good...eventually
GLA.
It does indeed 'appear' to be a bounce, at least technically on 19'th Jul. For what it's worth, it's the first time that RSi was sub-30 since March 2020 on the daily chart. It's as though somebody was taking it down until sub-30 RSI on 19 July, but let's not get too paranoid...
IMO, daily chart starting to look healthy, dyor.
Merger or Acquisition even better.
Starting to gain momentum.
A disposal news would be perfect
Also, share incentive plan is before that date too get some cheap share maybe
SRP has interims on 5th August. I do wonder whether this contributed to the update eventually being on the 6th.
Just glad to see the date set to be honest. All the recent news has been very positive and I expect the results to show a significant step in the right direction. With the drive for cost savings and the opportunity to cut costs through outsourcing, I see huge potential here. Just my opinion... :)
People like to clock-off early on Friday's
Going by the drop since this has been announced, the market doesnt like the thought of a Friday either!!
Strange day to announce - dont like Friday announcements - but it does give the whole weekend to digest it
Hopefully 6 Aug ties in with some other timing
GLA
Friday next week then.
Hi everyone,
Just had a look on their website and saw that the announcement of CPI’s half year results is on 6th August.
https://www.capita.com/investors/financial-calendar