Our live Investing Matters Podcast Special which took place at the Master Investor Show discussing 'How undervalued is the UK stock market?', has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Early bird catching the worm
200k and 120k buy this morning!
Lazy journalism. More financial insights on this board than that article
Shahz - On top of debts to the banks, PFC also owed monies to trade creditors.
Carillion was a victim of boardroom fraud if I remember correctly and had massive undisclosed debt. Pension issues as well. But the article is pretty much on point and the balance sheet is, at the moment, f*cked. No point saying otherwise as the BOD has admitted as much. If they sell some assets and/or renegotiate debt terms most of us will be as well. We need a Hail Mary RNS as well. 100 is possible though and you have to be in it to win it.
Going to the moon 🤦
Idiot shorts
Sharz - Remember PFC have subsidiaries in other countries. If one or more of them made profits then they would have to pay local taxes !
It also said that it would face interest payments of US$80 million, which also seemed strange for a company claiming to be cashflow neutral, and having less than US$400 million in debt as this implied a 20 per cent interest rate.
Petrofac said that it expected to face a tax charge of US$25 million to US$35 million in 2023, and tax payments of US$70 million to US$80 million. This seemed strange to me, given the company’s consistent run of losses. Companies that are losing money tend not to pay much tax
PFCVetran– Agreed and the writer of the article mentioned about Carillion but he did not mention no one came to the rescue of Carillion because of its enormous pension deficit(£1.8B) on top of £3B debt and to my best knowledge PFC does not have such pension liability.
Posted earlier this morning, but keep forwarding.
Https://petition.parliament.uk/petitions/657294
Old news; lots of upside from current share price 🚀🚀
PFCveteran
Accurate observations though. The balance sheet needs attention.
A couple of things stand out in the article.
Firstly the author is an anonymous pseudonym, never a good sign.
Secondly, almost half the Petrofac section focuses on the long dead SFO case.
When read in isolation it’s a bit unsettling, but in reality it’s not telling us anything we don’t already know.
Pretty much what we know already.
Interesting read.
A few percent below won't scare existing shareholders my friend.
The upside potential is far too high, very little risk at these prices x
Signed.
Sign the petition and hopefully there’s enough people’s signatures to make a difference
https://petition.parliament.uk/petitions/657294
6,500,000 sold. Possibly another 3,000,000. Extra shares issued this week. Possible linkage? Someone knows something and if 6,500,000 sold in one block someone obviously bought them. High risk but high return if it pays off. 100 is possible if they have come up with some cashflow. Cash is king. GLA.
Let sleeping dogs lie Evanescent.
Yorkshire -badvoc is a scumbag.... filtered a long time ago for me....waste of time apologising to a clown 🤡 like him
👍
No biggy, think we can all argree Shorters are opportunistic scum