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I agree.
Price now lower than at Raza's purchase.
Would love to know his (or indeed Microlise) thinking.
They probably don't even need to go as far as giving it away at this stage; how about the first 3 months free, for example?
that is the key driver for me if the AA can create value from SB then i see it as offered as part of the annual subs rather than the bolt on
if they get
lower attrition rates
fewer call outs
fewer calls to call centres
saves aa time when attending
better and qyuicker outcomes when there is a prob
other rev opportunities ie insurance etc
then real potential
on the downside it has been round a couple of years now
aa focussed on debt management
always feels like a big pot of jam tomorrow
the attrition rate for the aa overall is 20% pa i think reading the hy
so assume the same for sb
if lower then that would be very interesting for the aa
What's the attrition rate on SB do we think? Greater or lesser than insurance?
Perhaps Directline's trakm8 offering is perhaps the equivalent if anyone knows of those figures.
I think the AA will relaunch it at some point - or perhaps revive the launch if it truly is to be their signature offering.
I still think Blonde was right in saying it should be given away by the AA and perhaps it will be at some point. Then the 1m units dream might become a reality.
current at 10k + downloads
so when trips to 20k that will be a good sign
thanks for the update
you were right knowbody just cant stay away
a good way to track is to check the volume of google play downloads of the smart app as a guide
ingenie review volumes also going nicely
Per AA: "The roll-out of Smart Breakdown, our premium connected car offering, was affected by lockdown. Despite this, over 10,000 new and existing customers have Smart Breakdown and we are encouraged by the take up rates in our digital channels. Looking ahead, we will continue to build the base of new and existing customers who are connected through Smart Breakdown, whilst continually refining and optimising the customer experience."
It was 4,500 as at 7/5/20, so 5,500 have been added in the 5 months May to Sep. If we assume May, June and July were a write-off because of lockdown, the current monthly rate is probably around 2,500, but rising month by month as people get the message through advertising and word of mouth.
So with a membership of 3.2 m, it looks like we are heading for a 1% take up by early next year, which would be a reasonable out-turn for Trakm8 for the first year, but it is still too early to say whether or when the potential for 1m units pa will be realised.
Enough to help secure Trakm8's future, without sending the SP into the stratosphere.
Here is a LinkedIN post from Lookers Leasing (2 days ago) i.e. not from Trakm8. It implies this is a recent agreement, not something from yesteryear like the bears would have you believe. LL have no reason to make a song and dance about something that was established years ago.
"We've struck up a strategic partnership with Trakm8. This will allow us to offer our contract hire and leasing customers fleet management technology through Trakm8’s telematics and vehicle camera solutions."
https://www.linkedin.com/posts/lookers-leasing-limited_lookers-leasing-partners-with-trakm8-activity-6714882042837913600-pdxT/
Great point about the size of the contract. Whilst we will never know if it is true they do not RNS as frequently as they did in the past - so size may be important.
I think some of the things they have put in their news section would probably be RNSed a couple of years back. I remember hearing, from a third party, that the sales teams were under a lot of pressure - not to deliver sales per se but for the share holders. I think they have matured out of that way of thinking and prefer to get on with business and not a show.
"might get a contract update in between and the aa seems to be moving to the end game"
Interesting. I was thinking this earlier. I was also thinking that the BOD don't tend to RNS contract updates these days. The only recent contract update was the large retailer... why? One must assume it was a significant (hopefully in terms of value).
...next Tuesday. This will surely include an update on SB, which will hopefully validate our Chairman's claim in the recent AGM Q&A that "the potential that remains within the roadside assistance space does give us the opportunity to meet this ambition [of 1m units pa]".
i will give a go.
good luck all speak in late nov.
might get a contract update in between and the aa seems to be moving to the end game
anyway roll on late nov and lets see what we get
"anyway will try to forget all about until nov"
Good luck with that one...
i read it as by the time we pay out deferred tax due covid ni and vat
then we get 1m back from tge r and d credit
net debt will be 5.4 to 5.9m
the only thing at bit of a concern running down stock level which will have to be replaced (hopefully)
anyway will try to forget all about until nov
If I understood you correctly then I agree the deferred tax should not contribute to the net debt figure. Sounds pretty bad if they have done that because we are talking about a £1m difference.
KBYK - the £2m was an example value
Net debt does not include the tax deferral (which is normally just part of trade creditors etc).
However, it looks like the net debt is net of the additional cash which is now in the company's coffers as a result of deferring the payment of the tax.
In my opinion, that cash should not be set off against net debt when comparing the latter with the prior year, because it is earmarked for HMRC, and has only been "created" by the tax deferral.
However, from what they say, the debt appears to be manageable at least.
What's the tax that's been deferred - one must assume VAT and NI - there's no profit, so no CT.
Would they have £2m of deferrals on their revenue projections?
net debt at h1 ly was £6.1m
so even 5.9m is reasonable hopefully it will land between but will so as an improving position in the h1 results
if they keep flat for the full year that would be good
I read it as deferrals less R&D credits is £1m e.g. £2m deferrals less £1m R&D.
Even though that sounds bad, the question I was asking was really asking whether, if net debt included this and they were confident of paying the £1m back in the next few months then net debt yoy would be between £4.4m and £4.9m.
I must admit I struggled with this too.
The second sentence doesn't make sense to my eyes, therefore I focused on the first sentence: similar debt levels to last year - despite COVID-19, which can only be good news.
No, I've just figured it out. Needs a comma: The total value, net of the R&D tax credit cash, of government tax deferrals amounts to just under £1.0m.
So, in other words, they owe the gov £1m in deferrals, but that should be covered by the usual £1m R&D tax credit.
That would make more sense.
Can somebody please explain these sentences to me.
"We expect that Net debt excluding IFRS16 lease liabilities at the end of the Half Year will be in the range £5.4m to £5.9m (FY-2020: £5.6m). The total value, net of the R&D tax credit cash of government tax deferrals amounts to just under £1.0m"
The question I am asking is.... net debt is all things considered so does the £5.4m to £5.9m include the £1m tax deferrals? I assume it does
ins connections
up 10k at p5
i think they lost about 2.5k in april
may flat
then growth june july august
therefore i can see growth of around 6k per period yr on yr in h2
thanks dc
need something being a trakm8 shareholder feels like some sort of mental punishment regime seeing just how bad news you can but without knowing if there is a reward at the end
"Following couple of very strong months here at Trakm8 and increase in demand for our latest 360 fleet management platform I'm urgently looking for another super star to join my team."
https://www.linkedin.com/feed/update/urn:li:activity:6712775797318414336/
I am not saying I would read much into this, the guy is in sales but a little Monday morning pickup.