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This year we have completed the disposal of four businesses: Secure Solutions and Services, AMT Sybex, Specialty Insurance, and Trustmarque. As a result, we have received total proceeds of over £750m from previously announced disposals, exceeding our £700m target, six months EARLIER than originally announced.
We expect the revenue growth in the first half of 2022 of up to 1%.
With a solid platform of secured revenue, a strong pipeline of contract opportunities and markets driven by demand for cost-effective digital solutions, we remain confident of delivering revenue growth in 2022.
As outlined during the 2021 full-year results, we expect profits in 2022 to be significantly weighted to the second half, with a reduced EBITDA margin reflecting the full-year impact of prior-year contract losses, structural decline in our closed book Life & Pensions business, and operational changes in the Army Recruitment contract.
We remain on track to deliver positive free cash flow in 2022.
We continue to expect a MATERIAL REDUCTION in net debt by the end of the year.
FAB
Good RNS to confirm everything is on track!
Confirms rationale for Peel and Barclays targets.
Good upside here over medium term.
So as I read this:
Everything is on track - excellent
Forward guidance remains the same - no wobbles
Recovery bedded in and continues as expected - growth continues
All good
So all the reasons that Peel believe this will hit 48p and Barclay’s believe this will hit 65p remain fully in play
Totally undervalued here - and with recovery bedded in we should push to the 48 to 65p range imo
Wheres the debt figure? Serco clearly stated there debt figure because they see pride in their achievement...oppss...no mention, investors kept under the dark on the debt!..is city going to invest in high debt company .. I would like to think No! Imho ..
You sound rattled AM - for someone allegedly short - I’d be worried too
This tells us everything is on track- it’s all good, going as expected
That’s all we wanted to hear
Ftse 50 points lower this morning plus not the most inspiring update.
This is going lower :(
Make that 65% lower on ftse imho
Have a nice day AM
This confirmation that all is good and going as planned means the recovery in share price will continue
We don’t need fireworks to get to 60p plus - we just needed to know everything was as expected
Is that what the sea of green is? I only have 2 users on my filter here. AM for his constant deramping and sharehead for constant ramping. I don;t need to hear the same thing over and over so just block both of them.
That said - was an OK RNS. Nothing spectacular but., more importantly, nothing bad! Now to see how the market reacts. Was yesterday a bit of FOMO that is going to retrace due to nothing stellar being announced? Or was that just the beginning of a decent push higher as the RNS inspires a bit more confidence?
Same as you mate. Both divs!
Defo FOMO imho ...
Confirms its a defensive share, current course and speed fine imho. May get a chance to trade a few but not letting go of my dream yacht ;-)
Aim, have you noticed the large MMs spread of almost 2p?
It was done purposely for you so that you don't get out of that short.
Not being loved this morning by the market. -5%.
Lets see what the day brings but this looks like a disappointment for all longs - me especially.
Kind of used to it now though.
Early days but I'd say price seems pretty decent.
Get today done and then we'll keep plodding on up.
Don't be so sure of not being loved by the market it's bobbing around a bit due to market makers but I think overall direction is up, the RNS wasn't spectacular but it has made me confident that I can leave my money where it is ans just wait, i was worried things were going to be a lot worse but things are going ok, and in the current world situation OK is actually very good
I think they did that deliberately to get any panic sellers
We can't predict what happens day to day, but the debt and earnings projections that will come out in 5 weeks' time will be positive and I can see us in the 30s in the run-up to that day - IMHO. I'll wait it out.
If you want my opinion, it's bit of a non-event. Quite disappointed. Not even sure what I was expecting. May as well hang around for the half year results. If they can't make a go of this sp at the half year results, I'll be offski.
Looking for 23p for my short imho
RNS sits just fine with me... in line with expectations, retaining revenue growth.
Anyone recall that there's been a few challenges during the last few months?
Stability during a period of turbulence isn't a bad thing at all imo.
Short added this morning imho
Pretty uninteresting update, I think the run up yesterday was in anticipation of something more exciting, but let’s face it there were never going to be any positive shocks in this - but no negative shocks either...! So I think bit of a breather today from those selling who were hoping for fireworks, then normal business resumes (of 1-2% increase per day which I’ll take)! This is a big ship to turn everyone needs to remember, but I’d say 150deg round already