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It would probably be better to use the cash to pay down more of the debt... Get that weight off the books...
Ex-dividend tomorw, probably drop ,patience needed here.. so sold , usual trick kept pittance profit in shares.... on positive side bus fares 2£ max which i used other day when trains on strike....atb
Very poorly written article and clearly shows no understanding of the company accounts, focus should be on retained business!
Another opinion....death cross v buyers piling today, lets see who's right then , took a few , ex div 17th Nov
0.9p paydate 23rd Dec
https://invezz.com/news/2022/11/10/firstgroup-share-price-death-cross-points-to-more-pain/
HSBC cuts FirstGroup price target to 100 (150) pence - 'hold'
Another example of that 'Shareholder value' they keep telling us about!
Thank's for feedback I have sold and
accepted 107.5 I still have 54 shares (a stray old share certificate) that will give me the right to post on here LOL
I have made about 7.5% over many many years a terrible investment
I hope this share does recover for the sake of the employees, the investors and the customers
Good luck
FGP is primarily owned by Institutional investors (65% plus), had they deemed the offer acceptable the BoD would have been told to accept. The II's have been invested for years and they may have a high average SP and did want to take a loss. Alternatively, they may have a view that the core business is worth more, this is supported by brokers ratings where circa 130p-150p seems to be the current range. Whatever the motives they believe FGP will be either a good dividend payer in future and/or expect some good capital growth in the coming years. Who knows but I will keep my modest holding for now and may increase if it drops much lower and we get clarity on greyhound payout.
Two points to mention. firstly. the recent rail strikes, and secondly. recent upshots in interest rates
Thought the offer was 118p, the rest being contingent based on returns from First Transit earnout and greyhound sale mainly.
That was my point as well,
It was a very good offer.
At the time of offer £1:40 share price
What’s a fair true value now ?
Agreed totally crazy to reject offer.
Add share holder value …. Don’t make me laugh!
Totally incompetent
Note 9 "£990.0m of additions relate to the extension of leases as a result of signing of the National Rail Contract in Great Western Railway."
Leases for rail assets main reason for debt. Results not bad but not good either. Hinted at a further 1.8p dividend in second half on top of the first half 0.9p. No mention of what they intend to do with Greyhound money that I can see!
Well I know this forum is for us all to take part in as I stated I don’t hold this rubbish share
but will just add there is going to be three factors that will push this share down all will be reviled soon.
Todays news was expected markets have priced in what’s to come.
DYOR.
Yes very underwhelming. Cannot understand why management thought the takeover bid so undervalued this company. Think it was very reasonable!
Looks Like A Bad Set Of Result
Any ideas on why the sp is plummeting
Diego, - You are correct. FGP has survived by selling asset ( Bus depot land).
On Wednesday we will find out how they intend to return value to shareholders after the sale of greyhound. I personally would like to see a special dividend rather than a buyback!
First I don’t hold stock,
I did hold stock that I sold at £1:35 38500 shares that I had bought in the last 7 years.
Now why I posted here is that I read a few posts and I was giving my opinion first group should have sold,
It was a fair and good offer and my point is first group said the offer undervalued it’s business.
I cashed out soon after, now when I made my post £1:02 p
Now uk government have to save money and first bus can’t stand alone,
It can’t rise ticket prices as people won’t pay,
From April things are going to get very hard for the bus industry and trains and first needs to spend a lot of money to improve its failing business,
The budget on the 17th should give you a hint of what’s coming.
My point is they should have taken the offer, that’s why I posted.
Good luck your going to need it,
Tell me what’s going to change to make it worth holding?
One thing a take over, revenue is going to be same old.
Price is going to keep falling sorry and I am not a buyer.
To answer your question no,
Just look at the last 10 years.
Show me the money?
And selling your best asset?
No dividend for 9 years ok it’s back now.
It’s been a bad investment and it won’t get better, it needs to much money to replace its clapped out fleet, high fuel cost, bus depots in poor state of repair, pension shortfalls,
Biggest issue can’t get drivers to stay “why is that”.
It’s a bad investment they had the chance to sell it off and they should have.
This is a really run in to the ground business,
It’s being propped up by governments funding should be cut big time see how undervalued they are then.
They pay agency bus drivers £21:00 and their own staff £10:50 sorry £12:00 it took 6 months to get that on a two year deal.
I would not own any stock in FGP it’s a doomed business every man and his dog has jumped ship and new faces don’t stay too long.
The saying you can’t polish a turd they have tried it’s still a turd.
Dump stock there is so much better options out there.
If it went 35p again I still would not buy.
I invested massive at about 75 to bring my average down to 100 I am very nervous of a return to the lows was it 35 . I have to much invested and intend to drastically reduce my holding for peace of mind.
I don't like Sunak I don't trust him he is not for the north, after seeing the u tube video of him basically saying " stuff levelling up I am supporting the south" I think he is more for the wealthy among us ( not me)
I have done it before where I sell just before a dividend or a sale or what-ever.
Is there any money coming our way in the near future ?????