Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video 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.
Because it's pointless. It's like suggesting I watch people shopping in Tesco's. It tells me nothing when comparing it to what the Company has said. Do we need to remind you again? What they said a matter of weeks ago?
"The benefit of their achievements are however not just felt in the present."
"Despite increasing our spending on those initiatives which will help propel the business forward in future years, we are yet to do so."
"we cannot afford to take our foot off the pedal"
"We are hopeful that the relaxation of restrictions, combined with greater participation in the hobbies we serve and our hard work bodes well for our prospects. However we are under no illusion that this is guaranteed"
"We are hopeful that a vaccine led relaxing of restrictions is not only permanent but encourages activity levels to return at pace, however, this is hard to predict and we have plans in place if this is not how things develop."
"this is hard to predict"...they should have just asked Pearls. No problems providing a prediction there.....
You have to be very aware that in a company that's so heavily controlled by one entity of the "we have plans in place if this is not how things develop". That's not always shareholder friendly. It can also be a raft of not so friendly corporate actions, like conversion of debt into equity for instance, that would be a debilitation for anyone buying today...as you don't know what impact it would have on the share price or what price they could convert at. It could wipe 50% off at the blink of an eye.
Devon, why don't you actually watch the live auction and then comment?
"There's no sign of 'muted' interest whatsoever, in fact bids seem to be going for multiples of the estimate."
Oh dear, how many time have we heard you say this kind of thing? What was your estimated for 2020 again? Was it £15m at one point, and then it was £11....a reduction on 2019, even thought you spent tmost of 2020 saying "sales are booming under Covid"....then over £20m for 2021. LOL
"Rubbish Devon. Commercial history is littered with companies who have suddenly had creditors pull the rug out."
Nonsense - debt is a contractual obligations, but it's at least one thing that you've accepted that it's commercial risk and SGI could find itself having to deal it , as you say "history is littered with companies who have suddenly had creditors pull the rug out"....
Devon, just watch the auction - it is being live filmed on SG's website right now along with amounts being bidded for each lot. There's no sign of 'muted' interest whatsoever, in fact bids seem to be going for multiples of the estimate.
"It is June's full year update plus forward looking statement that is important here, and that should be a lot more positive now the country is opening up again and London is showing signs of life"
You've missed out that you are expecting the sale to have reduced to £11m. I believe the term you used in a previous post was "pitiful".. We should also expect the profits, or lack of, to have moved even more sharply into a loss. I doubt the company is going to be providing a glowing forecast, that wouldn't be in line with the last update and they will likely need to reflect the growing inflations risks, that's rattled to markets today. Inflation is very bad for disposable spending like stamp. So alongside people wanting to spend more on "going out" you have to inject inflation risk into SGI forward projections. I'm expecting muted at best.
Rubbish Devon. Commercial history is littered with companies who have suddenly had creditors pull the rug out. Many times shareholders have suffered adversely and questioned where were the auditors who seem to be always never be on the case.
Staff and shareholders always are the last to know in these situations.
Fortunately it is not the case here, albeit could have been the case in 2017 and before Phoenix came in and bought up 58% of the shares.
Jay, it is not that I am desperate for the auctions to succeed, more that I am keen to point out that SG's turnover is rising sharply, and no-one seems to be noticing. If you seriously think the turnover is remaining at £11m per year as we come out of lockdown and the company holds successful auctions and starts attending trade shows etc, then you are deluded.
"Devon, most companies who have creditors are in that position."
That's utter nonsense. Only companies in default, like SGI, are in that positions. It's once you are unable to service your debt, like SGI, or in breach of those covenants that you you are only one Board meeting away...like SGI.
Pearls, you must be desperate for the SGI auction to succeed if you are pumping it on the ARB board, as for fireworks to start, more like a damp squib, not a good look.
Devon, most companies who have creditors are in that position. But the reality here is that the main creditor is also the main shareholder and poured in £19.45m initially into the company a few years ago for a 58% stake. As the turnaround starts developing, I really cannot see them pulling the plug just as the fireworks start at SG.
Today's and tomorrow's two day auction for example should be great for turnover.
It is June's full year update plus forward looking statement that is important here, and that should be a lot more positive now the country is opening up again and London is showing signs of life. Of course once we are through this in June and all restrictions are lifted, it should be all systems go. Not many on here will thank you then Devon for continually being so negative as the price starts rallying and they realise they missed out...……...
"it is important to note that at the current time the business continues to be cash negative, while trading conditions and the impact on our longer-term funding position remain uncertain with the latter influenced by our negotiations with our long term creditors."
Horrible place to be. Only ever one Board Meeting away from having the plug pulled...
Pearls, SGI are desperate for money, hope you are spending some money at the auction, after last SGI statement they need it "it is important to note that at the current time the business continues to be cash negative, while trading conditions and the impact on our longer-term funding position remain uncertain with the latter influenced by our negotiations with our long term creditors." No such money problems at ARB, they are raking it in.