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Nothing too unexpected.... margin around 7.9% compared to 8.3% last year not too unexpected with cost pressures
selling the BEC asset for $1.62 billion net, yet the Built Environment's order book is around $1.8 billion ...are they selling it too cheap , in order to deal with the debt issue ?
Like elsewhere, the Projects needs to turn in H2, after the sector slow down, to help replace here the lost revenues and order book from the Built Environment sale,as well as some of that $149m earnings it provided last year
Those impairments for those loss making Projects has better wording attached than previously ... "some impairment" "any potential charge"
Capital Market Day with the strategy update now late Q4 ....on it all drags
I agree there is no real negatives in their but I cant see the share price moving much to the upside based on all this. It was all in the mix beforehand. Id love to be wrong and the price really does not reflect the reality of teh situation but its been like that for months.
Best bit is they come across very positive on the future.......
"Expect a stronger performance in H2 across all business units, supported by the higher order book"
Yep can’t see anything negative in there as you say very positive update the price will rally well today from this totally unjustified sell off
wg. share price might shoot up today at least 10%. Very positive results. Much better than expected.
Trading update tomorrow its in the financial calendar on the Wood investors website.
When is the next update? Please let me know if anyone knows.
https://events.finimize.com/events/details/finimize-strategies-presents-how-not-to-panic-in-a-bear-market/
maybe that should be the preferred event for tomorrow :-)
Jeez… same level it was at in the depths of covid, when the oil price went negative… hard to believe energy prices are near multi year highs, and service providers talking about imminent and enduring cycle recovery.
There has to be a shareholder vote on the asset sale ...just a formality though
yes that's why i said it's done as it's as good as
I suspect the update on the Poland huge project losses and a not so great H1 Update overall with come, although there shouldn't be many surprises ....it is more the guidance and view on H2 that will be needed to boost sentiment.....
WG historically are more 2nd half weighted so again expecting no bad news
" Mr Gilmartin the new CEO of Wood, he will command a base salary of £750,000 per year with a maximum annual bonus of 175% of base salary. He will also be entitled to a variety of other benefits and pension, as well as a gross allowance of £150,000 to assist with relocating to the UK."
I suspect the City is indicating to Mr Gilmartin that he needs to demonstrate he is right man for the job. He has Robin Watson round as an advisor until the end of September
Mr Gilmartin needs to get the asset sale over the line, and present the extremely important forthcoming CMD and give the City a very clear vision of the road ahead
I suspect the update on the Poland huge project losses and a not so great H1 Update overall with come, although there shouldn't be many surprises ....it is more the guidance and view on H2 that will be needed to boost sentiment.....
There has to be a shareholder vote on the asset sale ...just a formality though
Asset sale is I believe contingent of regulatory approval etc. as with anything this size but cant see any reason why its not a done deal. My only concern would be the buyer had some get out clause in the offer but thats unlikely given the companies have made the deal public.
if i was on the board i would announce a share buy back-they will be flushed with cash and would put a line under all this nonsense
no it's done
Is there a chance the divestment has fallen through? Or is 100% in the bag?
Aucuba,
i know what you mean re the big boys but id be v shocked if some bad news in there so soon after which in my view was a very positive RNS re the sale priced etc.
im an x trader in the city and i know how the order book can get manipulated if there is not much depth to it, i can only assume that the book has been thin on the bid side so any aggressive sellers can easily keep hitting the book and if done quickly the buyers are reluctant to reload for obvious reasons-i would guess this could be the issue but to get hit some 120p is staggering as i said after good news! again i would be amazed if any bad news to come.....
Chelmochaser
Was hovering over teh buy button yesterday but held off. This is so oversold but Im struggling to commit to any sort of movement on the upside at the moment. I always worry about what the big boys know that I dont :)
Anyone think this could be ripe for takeover at this level?
Absolutely i do Halliburton must be all over this, the sell off is ridiculous and i agree its a worry behaving like this in front of the update but to be off £1.20 odd since the sale RNS is imo a nonsense . I have decent position and will be buying more today as this is the most oversold stock i've seen for a long time..
Yes I was thinking the same! Totally baffling. There doesn't seem to be much on the short interest tracker either , if the big boys know something, I would be expecting to see more short positions above 0.5% on there.
I am in the same boat - going to have to wait it out!
And still it goes down. Really hard to understand isnt it !! The update tomorrow is a worry as lots bailing bewfore the announcement so makes me wonder if there is some bad news coming. Im too far in this one to just write it off and holding until such time as I need ot sell.
Even great news on contracts (theres been a few since last update) and the asset sale is not going tyo move this one far in my opinion.
Anyoner think this could be ripe for takeover at this level?
Under £1bn. Insane