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What are the BOD doing is a great question.
Not a lot apart from hoarding shareholder cash from what i see unfortunately, then giving useless £20's in shares to countless disinterested customers as an expensive pr gimic.
Good turnaround today.
Terrible company for investment, I am 28% down and don’t know what to do. It’s nearly a year my money stuck in this company.
What is the BOD doing ...?
Thanks for your thoughts. I agree it's a sound company IMO so will stick with it. GLA
Are the selling of Viridor, the apparent lack of a fully formed strategy of what to do with the majority of the proceeds and management change around the same time factors here? Is the market waiting for some clear direction from management as to where PNN are going?
There was a report last November of them considering a takeover (of rival Southern Water Services) but I'm not sure what's going on. Could PNN do a better PR job? Could they provide a bit more on what they are doing with the cash they've piled up?
I only bought a small amount here last summer (a good time to sell, a bad time to buy). I have thought about averaging down a few times but PNN have just not inspired me to do so. I'm down 22% as it is and I'm not convinced it's reached the bottom yet but hope I'm wrong.
I'm going to hold on to the next trading statement (end of March) then make a decision. My gut says PNN should be fine but my head may tell me my money may be better elsewhere. Perhaps one my AIM Sucker Stocks which are not making a profit but whose share prices have performed better than PNN since I've owned them. Is it me or is there something a bit illogical with this Stock Market malarkey?
Very good company, just need to return excess cash to shareholders, they have sheds load. Only reason , I think it will happen soon, it will rally. Buy the dips
Have held shares in Pennon for years. Can anyone shine a light on why the SP is slowly & steadily in a downward direction?
Is there any good news out there?
That’s the only thing that is going to rescue the share price!!
What a poor SP performance. Painful!!
Ta, I've invested in MAB which is up 18%, although I'm not sure why !
Sorry to hear that owl, hope you find something better to invest in
PNN seems to have lost it's momentum, I have sold up after making a loss of 12% over the last 12 months, a tad disappointing but you can't win them all.
It would be good if pennon pulled out of any water company they are in the process of buying, market sees it as shareholders value destruction. These were worth 12 quid a pop, when the market thought they were returning the realised gains from the viridor sale...
When can investors expect a return on their investment (return of capital) after the sale of Viridor?
Strong buy at this level. Stable utility with good dividend. What’s not to like at this price?
You could be right, I don't really see a connection myself, but good luck with your investment, you'll likely see capital gain and a nice stream of divs
Think this more to do with investigation launched into Wessex water today.Bought my first purchase of these toady on the drop and topped my UU. Shares up too.
Gosh look at this sink, pretty hated by the market, bye bye my capital gain. Saying that if this continues, and the div yieid goes above 5% {maybe it has} I'll be snapping some up, still think it is a good company to own
'we pipe poo' is so much more accurate :)
"Pennon Group Plc is an environmental utility infrastructure company "
Well, it sounds better than "we shovel sh...!"
Could be her pet passion, i suppose time will tell but there certainly was far to much of that sort of patter in the release. Dont know her history, just want to see her increase the returns for us shareholders either divis or sp wise myself. Worth keeping an eye on tho.
Guess all that tree hugging spin is the angle of the new ceo? That could be a huge sign to sell up run for the hills?!!! What's her previous track record
Crocqman
Trouble is with Pennon, well Southwest water realy, is that within their area of operations have do not have a good reputation with the customers. Because of the coastline and the many sewerage works this entails having their sewerage charges are extremely high. Water costs aabout the same as the resst of the UK. A lot off their customer area is in very low paid deprived areas They are also, historically, a very authorative type of organisatioon, not very 'touchy feeley' and sweat their assets very hard with mmany pollutions and high leakage. I think the focus on the business is to improve this side of their public image, annd it rightly needs doing, but like you i think this shhould be the norm and not down to shareholders to fund.
They have also just taken on the responsabilties of the Isles of Scilly for waater supply and sewerage. Trhe infrastructure there is woeful, i can see lots of Viriddor monies going there to modernise this to prevent compliance issues and fines.
I also question the sense in giving shares away, they say they have tripled their ownership base - well that comes with an ongoing and now rising cost, for what is in effect a gimic. £20 is just two shares, hardly going to make much difference to the customers investment income but all a cosst on the bottom line.
Got a first tranche buy in at 960 earlier today. Hopefully, back over a tenner soon!