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Theo - EUA still worth taking a look at...sorry not cross dressing!!
Amers, I would say if 40p that is the market crash. Not seem to me 40p but if you like you can wait. Anything is possible but Metro not this one. Good luck
well let's see.. not expecting a big sp jump in the near future for sure... the trend is south... as always...
Theosus, whatever it is... no rush to pile in... tough bear market is on the way...
Amers.... guess you just made that number up?? very attempting... might well be the number I need to get my £ back... LoL
acaciatan - I would wait until it gets to 40P, which is realistic value.
There is a reason Bradford is underserved, I am sure there are plenty of HNW individuals residing there.
jim, you've hit the nail on the head, but that is the one of the main problems and not part of the solution
you cant just ask for a 25 year lease with upward only rent reviews to be renegotiated because you made a mistake - well in theory I suppose you can but it would be a short meeting...
to get a landlord to take a haircut you need to be in a position of strength, a solvent business isn't generally able to do this unless they can prove it's unreasonable. What they could have done is made each branch a separate company and then made the ones that they don't want insolvent - or at least threatened to do that if the landlords don't play ball. That would require joined up thinking which hasn't so far been evident hence 60p. And 100million value after spaffing several hundred million to create it.
not great at making widgets...
The day i bought 113p , expecting 120p the next day. When my instinct not happened i sold 113p the following day.
Metro such a crazy shares to play with and now I come back again to see 60p is about to invest. Below 60p i might take chance if anything is possible
Also remember most of these leases are now underwater since their lease payments are higher than what currently they currently trade at. Look at Hammerson's share price to get an idea and read Next's latest results where they say any leases which they renew are done at between 30%-50% below previous passing rents.
MTRO have £700m of future lease commitments under these onerous leases, even if they provided 30% for them that is a hit of £200m.
looks like close under 60...
Correct Zc and yes, that was a nice play by VH and terrible for shreholders at the time and even today. But you can have a look around and see many contracts in various industries are up for renegotiation given Covid.
How is he going to renegotiate? 25 year leases with no break clause and to top it off they have spent £5m+ on each location. The landlords will laugh in Dan's face. These guys have in most cases completely demolished and rebuilt most of the landlords properties. All of this was done to give Hill's missus a few quid so she could call herself a architect.
Theo, that is true. The trend is definitely heading to lower branches. That is undisputable.
But other banks have/had massive networks and metro a fraction, so important to keep in mind where each is relative to others. The real challenge Dan faces is those terrible leases and increasing revenue per walk-in.
Renegotiating leases should be one of Dan's many priorities. Even if it's trimming cost by 10-20%.
Theo
The same will happen all over the world soon (tax rises) .. Be interesting to see if Boris will hit his pals ... He may have to to keep his new Blue Wall ... I bet Biden will leave things for a while I’ve read a few articles about it ... But who knows anything in this crazy world we live in
Let’s face it we are in a dire economic spot right now our legs have been taken off below the knee through covid and yet we have a government who are happy to chop the rest of our legs off and our hands for good measure through a no deal Brexit
defly not planing to hold mtro for long term when I am in under 60... will think about medium when we at 50 like others mentioned... well well... let's see... btw... I never get profit here... LoL...
Theo
Not sure Biden will change much in USA .. in fact I think he will probably give a little to China and get a little back which would be a good sign for markets ...
Brexit .. Well no deal is a given I think that is what Cummings wants
FCA ... Who knows but in this current time I would say it favours MTRO slightly
Bank Branches ... Personally I get the cost saving with online but I still do feel there is a fine balance to all this ... Soon we will be all old C**nts and will be moaning about not being able to talk to a human being... and of course handing over our savings to Mr Olefemi in his boiler room just North of Lagos
Yeah Yuri, sure.
Please do mention the following numbers, for context:
"Today, TSB has 475 branches. By the end of 2021, it will have 290."
"With 290 remaining branches, TSB will still have the seventh largest UK network and be bigger than Coop Bank and Virgin Money combined."
https://www.bbc.com/news/business-54343392
TSB: will still have 290 branches AFTER today's closures.
Metro Bank? 70ish branches total.
Keep some perspective when you quote numbers dude. ;-)
Yep, here's a link to TSB' closures Theo mentioned about:
BBC: TSB to close a third of branches and cut 900 jobs
http://www.bbc.co.uk/news/business-54343392
good to see we bounced back a bit after touched 60.... but in my view we r going to revisit that number couple of times before firm out... lost too much here... not going to add above 60.... but honestly good luck with current holders... fully understand the pain here