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Did anyone attend the AGM & if so is there any info apart from the official statement that gives more details of current/future situation
At the AGM this was discussed-the official reason was transparency and getting this out before capital markets day
They should start calling their updates ‘downdates’.
Same old crapita after an update, down, oh well another 6 months to wait
Lovely theory CraigJD... However, it's complete and utter nonsense. I've repeatedly declared my interest. I had been observing CPI with a view of making an investment, I also considered buying more BT (I already had holdings) and I considered a few other stocks but... in the end I purchased more BT tranches (I'm still buying more). I'm still considering CPI, I've not 100% ruled it out but I must say it's not currently looking promising.
Another Buy reiteration by Shore Capital. They're still bullish on this.
I'm sceptical about why they even bothered with this RNS. It wasn't necessary, nor did we have one at this point in previous years. No compelling event. So why bother? Still kitchen sinking? Keeping the door open for a few more buy-ins? Seriously, why bother?
IMHO DYOR
Doing nothing always seems to work for me on bad news days which it appears were priced in :)
Well, the market has shrugged off this 'terrible' RNS, for now at least. Just popped above the 15p mark
Predicting a finish in the blue today here......
The more I look at Savage Keyboard's posts, I am increasingly convinced that they are a doing this as a higher education dissertation. ie. going on to a discussion board, winding up investors in a beaten up stock in a broken market, testing responses and to some extent, it would be genius. This would undoubtedly make great research for psychology or business studies, Most of Savage's opinions are either macro-economic, academic or comparitive ie BT. Think about it, it is also that time of year for students. - just a thought.
Savage_KeyboardR why are you here on a board for a company you clearly have no interest of investing in? why not spend you time on the BT board and not spend it telling everyone what a good purchase you made on the CPI board.
I investigate many shares but if I decide not for me I move on and don't go on their chat board flooding it with negative messages.
I am a long suffering shareholder of CPI and a very long time critic of JL even when it meant I got a lot of flake for my comments but I have skin in the game and I am now happy that CPI is being run as it should have been for the last 6+ years. CPI is at the start of a turn around, as the Eagles say "We may lose we may win but we’ll never be here again", only time will tell.
I have many other investments like BT but would not put any more cash into it as my investments are targeted at Uranium (Including CCJ), Gold (which I trade a bit), Glencore and a number of O&G companies that are doing very well (much better than BT) but I do not go on the BT, CPI boards telling everyone they are making mistakes and telling them how well my other investments are doing.
Please give it a rest.
I was at the AGM and the directors were given a rough ride with one brave shareholder directly asking AH whether he was confident appointing the same directors (including Lowden) was right for the business given the performance over the last 3 years .
They are aware of the plight of SH’s and seem determined to improve on things .
Thanks Aubery for sharing that and yep, I agree with your assessment there. I remain giving consideration to adding CPI to my stocks at some point and yes, the turnaround will not happen overnight. Best of luck
The absolute focus is a return to FCF asap but will need the loss of up to 900 roles plus some natural attrition. The company is being reshaped to operate profitably… this will be a painful but necessary transition. One I am hopeful of but equally not naive enough it will happen over night. No doubt bumps in the road and minor set backs. Let’s wait and see in the summer.
Not a stable safe stock for the cautious but does look a compelling and speculative turn around stock imo.
New CEO and CFO with skin in the game.
Good luck.
Hi Aubrey,
Thanks for confirming that in line is neutral. At least someone here has remained aligned to rational thought processes.
I don't know if you're aware but a little back in time... on May 21st 2019 Capita's Market Cap was £2.586 Billion
Source: https://ycharts.com/companies/CTAGY/market_cap (note graph hasn't yet updated to the current Market cap of ~£248million.
You also say "In context this is a £250m market cap business." - which as per above I agree with.
However, another Quarter of declines at the current rate look set to further reduce the Market Cap because the business is still losing money, overseeing falling sales volumes and falling sales values. All confirmed in today's RNS.
With that in mind... where do you see Market Cap in 6 months time?
Savage
Ordinarily your are correct… in line is neutral.
But you are aware of the last few years??
In context, for CPI, if the CEO gets anywhere near ‘in line’ it will be bonanza time.
In context this is a £250m market cap business.
Of course it’s been a sh it show these past few years and you are correct to be circumspect but c’mon…review your language…
I see HHH81 - I see when rational evidence based debate fails to back your views then you descend to shouting insults, throwing all logic out the window and towards peddling conspiracy theories.
Trying to understand your POV but I can't determine your rationale for investing here - Please feel free to clarify why you think CPI makes for a good investment right now. If you have some evidence I've missed then please do share it.
that, savage, is called gaslighting.
you went nuts deep in ****ging off capita this morning thinking you could gloat to others about bt etc. this is a discussion board on capita, which you use constantly for talking about bt and trying to place a negative spin on things to prove yourself right for "not investing." based upon that rationale, you should be on all the other chat boards as well, talking about why you're not investing in those shares. but you're not, you're an attention seeking little weasal, who i have stupidly given more attention to...
Hi kularatnam, you said and I quote: "the update was positive with the message " trading in line with expectations""
Can you point to or share the positive bit please? I ask because "trading in line with expectations" is not a positive statement - it's neutral. So can you share why you think the update was positive?
HHH81 and others... I've no idea what the June update will be like... all I'm explaining is for me personally and imo given the risks in play here for CPI I want to see that June update before considering diving in with making an investment.
Now criticise/mock all you wish but I can only convey my view and the last time I checked this is a discussion board where people can air their views/opinions. Yes, some on here may lash out and play a conspiracy theory nonsense card accusing me of having an agenda. However, I've been super clear here that what I've shared is wholly in my opinion and I lack the powers to control the stock market so the agenda is pretty laughable really.
I see a lot of positives from this announcement.
1) Market didn't react so negatively as some predicted before trading started - leave alone 10p target.
2) A first in the history of CPI to come out with a Trading Update before an AGM. Shows clearly the transparency and openness of the new management and its character
3) Overall the update was positive with the message " trading in line with expectations" repeated many times shows they are not missing on targets and are confident in what they are doing. This coupled with cost cutting efforts which are according to plan should yield positive results going forward.
4) I note some are going for the AGM. Their comments are welcome.
5) If the SP stays above 14.50p , this announcement has done well.
6) It is just five months under the New CEO and his team and will take sometime , 6 to 12 months for some of the initiates to materialize like new and big contract wins ( particularly from private sector) impact of cost reduction etc.
GLA
Thanks for your views Savage. I'm guessing the Deutsche Bank analysts on the 7th May must have this all wrong and your extensive GCSE knowledge and googling must have it correct. How did you manage to outperform their research? Or were you just trolling again 🥱
@Simples, this was always going to happen. Do read my postings since the appointment of AH. I hated JL, and myself, for believing his turnaround guff. AH, & his team, will cut the mustard. They will bring back the bacon. They know their onions!
But, there will be potholes to negociate.
Think i recall you are/were an insider. Always look forward to your comments.
Also DD, who has been silent recently.
Hear, Hear RP24......a balanced view
I am also in Vod. Turnaround story in the making there too. Massive debt. New CEO. Usual fools predicting doom & gloom on that board. But turnarounds take time. Recent better news has seen the SP climb from 62 to 77 pence. You just have to be patient while the new team at the top get to work. If some of you God fearing pligrims want instant results may i suggest the 3:30 at Newmarket.
Kipper9
Setting expectations! Expect the share price to recover after this and dip again around results! It will then take off after Technology update. AH is exiting some of the services hence the redundancies. This will affect revenue streams as the business moves forward and starts to rebuild. AH is separating the numbers from the technology.
This is what shareholders want! No more Bull!
Where we are and where we are going!
Don't get caught out!
DYOR