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Genuinely tempted to buy in another £10k and hold until after Q1 update with Cheltenham behind them.
Think there could be a quick return to be made, and it would bring my average down to 71p if I bought in at 69 today.
I can completely understand the kneejerk reaction today to the announcement that revenue was down for the full year 2023.
BUT , this has been oversold ( which is common with this share, then it makes it's way back to the 90s / 100s pretty quickly)
THIS IS NOT NEW NEWS - Q3 update revenue was down 10%. Full year update revenue down 8%
Q4 PERFORMANCE was +5%.
If anything this shows that the first 3 quarters of 2023 were challenging, and the last 3 months have been positive in terms of performance. This coupled with the plans to make the business more profitable, and cut costs, and make this business primed for a takeover...I really can't understand the reaction??
Did Shareholders who sold this morning expect the trading update to show that Q4 completely recuperated all of the losses from the previous 3 quarters? Are people that naïve? Not very many businesses can achieve that in a quarter.
We had a real strong quarter, and plans for 2024 are positive.
May yet go green today who knows with these markets.
Just bought in at 70, hoping for a quick rise, been watching this for a long time.
Down to 70p is a joke. You have to thank the market for being able to buy at that price! Report really was nothing less than expected.
Sneaked a few extra at 69.45 9k
Gonna have to add to bottom drawer as oversold
Goodness sinking fast
Whole sector is stuffed in this country, the Losing (aka Gambling) comission have seen to that
Not sure I agree with that. I mean, the update is not going to make me pull the shares I bought for my kids the other day, but equally I would not be surprised to see us revisit the low 70's either.
Watching with interest and tempted to take a few for a trade if I see a window, but not investing for myself off the back of that update either. Not in the 80's anyway.
Hopefully the boss buys another big chunk today. It was his big purchase last year that caught my attention in the first place. GLA.
I do wonder why they turned town 156p a share, when they knew the numbers……it seems like a fair price at the moment.
This has always been a long term hold for me but I was kind of hoping we would be up around the 130p mark by March this year, and I would have thought about taking my investment gains out.
The positive for me from that RNS is that Q4 was a strong performance YOY, which means the damage was done at the beginning of the year last year, and the tide might be starting to shift
This is prob why we seen a rise in the SP over Christmas, as people were aware of this and why someone bought £3m worth, and new director bought £2m. Along with the takeover talk, these things can be a positive
Pleas please go back to the whomever made the offer of 156p and beg them to re-table it.
I think this has been built in from in the dip from 98p to 81 over the last week or two
Confluence,
I read it differently. Markets are dropping today so will top up if it drops.
Together, these changes have created a higher quality and more sustainable business mix, including approximately 95% of FY23 revenue being generated from regulated and taxed markets.
...
Outlook
· Positive outlook for FY24 revenue with consistent growth in active players driving confidence in strong revenue growth online in both the UK and International segments. Compliance and safer gambling impacts begin to annualise in February 2024, leading to a more positive outlook for average revenue per user.
· Global cost savings programme of approximately £30 million initiated in December 2023, alongside investment in further strengthening the Group's core capabilities in several areas such as intelligent automation and AI-powered data and insights.
· Cost savings to support an increase in marketing spend in 2024, with superior returns supported by a more effective customer and product lifecycle management plan.
· The above initiatives will enhance long-term profitability, but the additional investment means the Group currently expects 2024 Adjusted EBITDA to be at the low end of consensus range5.
· Under its new CEO Per Widerström, the Group intends to provide details on its evolved strategic and value creation plans, including new medium-term financial and strategic targets, at its full year results, which are expected to be released on 26 March 2024.
No surprises really, but nothing to make the heart race. I expect the SP to drop on this. The ship has not turned and not sure if it ever will…GLA
Thanks for your posts Hope.
I liked this bit.
As one person quoted"If the CEO has time to implement his plan before 888 Holdings is taken over".
Tomorrow should be positive and hope the board explain better why they turned down a bid of 150p+. Assume they think it is worth more so let's see the goodies tomorrow.
Took a few for the kids today (naturally at the top!)
Been watching this one for a while, since that sizeable CEO purchase in October.
Had other stocks that I wanted to add to at the time, so I just kept it on the radar.
Will wait for the update before starting a position for myself (subject to the obvious caveats). GLA.
Interesting week ahead, GLA.
Now that many News Outlets are confirming 888 Holdings' increase in yearly Revenue and pre-tax profit for 2023. The question now will there be any other news on any other offers for 888 Holdings in the update?
Every News Outlet mentions "Investors will be keen to hear about any other bids for the business ".
My earlier Article suggests that 888 Holdings may be on track from their forecast from 2022 with delivering 35p EPS in 2025. The question is whether 888 Holdings be able to withstand bids that may match their own valuations.
Trading on Monday 15 January 2024 may indicate if there is any news. Also, Short Tracker indicates some positions are being reduced.
Many on the board hope that 888 Holdings has finally turned the corner and see better times ahead for the company or good returns on their Investment IF a bid does come about.
Happy Investing All.
The BoD can't keep 'batting away suitors' if they don't start delivering some value for shareholders.
The SP here only moves upwards on rumour and speculation. It needs to be able to do so on the company actually delivering some good results, something I've not seen for a while.
August Graham 15.00pm 12/01/24 Report Independent
Meanwhile, its London rival 888 is reportedly batting away approaches from potential suitors and will update markets on Wednesday with its full-year results.
Analysts are expecting 888 to report revenue of £1.71 billion and adjusted pre-tax profit of £26 million during the year.
Ok been doing a bit of digging on different fronts and talking to people within the sector. Within the past month, the CEO Per Widerström has been re-structuring the company from top to bottom with many redundancies in the past month.
Article Today Israel News outlet 18.07 pm 11/1/24
hxxps://detaly.co.il/londonskaya-kompaniya-888-holdings-plc-uvolnyaet-desyatki-sotrudnikov-v-izraile/
Peel Hunt Brokers suggests the results will be dull but may follow Guidance from the 2022 Board outlook. Once the CEO has implemented cost-cutting and synergies across the group. The saying slow and steady approach.4/1/24
The William Hill Portfolio of its Assets in the UK and Europe will be looked at. The High street presence may be trimmed and some outlets sold. The partnerships they have across the board in racing may be sold (Ireland Racing with Sky mentioned last year sold etc).
Looking at non-profitable parts of the group where numbers bring relevant small (Deleware USA axed).Also, looking to pool resources across Canada and the USA to create larger access for players. ( Cassava Enterprises, Ltd)
Looking to expand into new markets in Africa. They have gained 2 licences with the Cardiff Law firm in Wales seeing those projects with some more in 2024. ( Hugh James dealmakers)3/1/24
To extract cash flow to eliminate floating debt in 2024. Also, to Leverage Fixed debt with JPM and Morgan Stanley on 2027/28. This is based on interest rates coming down in Q2 in 2024.
There are more I could list but 888 Holdings Plc CEO is at work and seems to be doing the job as quoted in the CasinoBeats 4/1/24.
Also, they are putting together a backroom team that will expand 888 Holdings with the appointment of Ian Gallagher who has a lot of experience. As one person quoted"If the CEO has time to implement his plan before 888 Holdings is taken over".
On the research, I hope it covers the outlook for Investors if they were worried.
All equities are down. Personally for me, another opportunity to buy having sold @93 on 21/12.
Once I achieve a set margin, I ditch. When a price becomes favourable again, I consider looking at the risk element again, and importantly the financials. As for takeovers, I could not care less.
There's something going on anyway.......and it's having a negative impact on the share price.
Imagine how the guy feels who bought £3m of shares at 94p before Christmas.