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has a contracts in line in Easter Europe. Soon it will rise sharply. directors buy is prove for confidence.
G4S under investigation by Ministry of Justice auditors for over billing on electronic tagging contracts for over £107million. Good Time to get out add reputational damage exceeds ability to bounce back. Public confidence lost, unlikely to see any major contracts following this and Olympic spectacle.
13 May 2013 G4S PLC DEALING BY PERSON DISCHARGING MANAGERIAL RESPONSIBILITY (Disclosure made in accordance with DTR 3.1.2R) The company has been notified today that Soren Lundsberg-Nielsen, a person discharging managerial responsibility within G4S plc, bought 50,000 ordinary shares of G4S plc in Denmark on 13 May 2013. The shares were bought at DKK 23.1344 per share.
sold out at 2.55 and bought Carillion... 11p divvy due on the 16th !... too tempting after todays fall in their SP... but nice to see G4S rise today ...good luck to all that still hold.
...he said realistically ...margins under pressure & better value elsewhere (even in minnows like CSSG lol)
...he said hopefully.
5.54p payable..... ex div date 15th May !!
G4S worth holding for the near future.
G4S: Goldman Sachs moves target price from 232p to 242p, while keeping a strong sell recommendation.
G4S: Investec revises target price from 280p to 330p and upgrades from hold to buy.
The main difference between the previous estimate and the final settlement is an agreement to waive a larger proportion of the project management charge. Commenting on the settlement, Buckles said: "The Olympic and Paralympic Games were a great success for the UK and we would like to reiterate our thanks to the military and the police for their support. We would also like to thank the 16,000 men and women of G4S who played their part in securing the Games despite the challenges faced by the group. "Whilst we are extremely disappointed to find ourselves in this position, we are pleased to have concluded these negotiations with LOCOG [London Organising Committee of the Olympic Games and Paralympic Games]."
Security outsourcing group G4S will incur an overall loss worth 70m pounds for its mismanaged Olympic Games contract, the company admitted Tuesday. The company failed to provide enough personnel to secure the Olympics and Paralympic Games resulting in 5,000 members of the Armed Forces having to be drafted in at short notice. At the time, two directors resigned, but Nick Buckles - the Chief Executive Officer of G4S who described the handling of the contract as "a humiliating shambles" - remained in his job. G4S has also incurred additional costs of approximately �11m, relating to charitable donations and external fees and a further �7.0m relating to the cost of sponsorship and marketing. All of the costs will be taken in the 2012 accounts as an exceptional charge, with �50m having been provided for at the half-year based on the previous contract loss estimate.
G4S has not updated the market since the autumn, but a couple of weeks ago Babcock International came out with a cheerful trading statement that suggested plenty of outsourcing opportunities out there. Its results on March 13th should show that G4S continues to struggle on the Continent. Yett the company is still on track to generate half of its revenues from emerging markets by 2019. The shares, after a difficult 2012, have outperformed the market so far this year; further advances may be limited, therefore, even if at last night's 280�p they sell on a relatively modest 11.4 times' this year's earnings, Tempus concludes.
Some time within the next couple of weeks or so, Locog will hand down the fine for its failings in last year's Olympic Games and G4S finally can put the sorry saga behind it. The company has already put aside �50m as an exceptional item to cover the fine and other expenses. A note from Panmure Gordon, though raising its target price for the shares, speculates that this may not be enough to cover all the damage, with a figure of �60m to �70m mentioned. "We shall see," says The Times's Tempus.
G4S: Panmure Gordon ups target price from 295p to 320p reiterating a buy recommendation.
Security company G4S has been rejected for a police outsourcing deal by the Police and Crime Commissioners (PCCs) body, reports said Tuesday. Three police forces - Bedfordshire, Cambridgeshire and Hertfordshire - had planned to employ the company's IT and human resources services, but have now backed out, following the PCCs's rejection. G4S had made no comment at the time of publication. The decision has yet to be formalised, the BBC said Tuesday. The plan was formed to save the three forces around �73m, and had considered a tie-up with Lincolnshire police, which already has a 10-year contract with the security group. G4S suffered a disasterous summer after its poor handling on the Olympic Games security, which cost it �50m after it was 10,400 security guards short for the event.
Nice post. Glad to see some positive news.
Accident-prone G4S (LON:GFS) has been raised to ‘top pick’ status by RBC Capital Markets. Driving the upgrade from ‘outperform’ has been the stock’s underperformance following the well publicised Olympic debacle ahead of last year’s games. The stock lagged the FTSE 100 by around 11% last year and was a “staggering” 27% behind its peers in the sector, RBC said. This therefore puts it at a 10-25% discount to the other major companies in the support services industry. “All of the outsourcing majors underperformed the sector last year, but G4S was the stand out due primarily to the well-publicised Olympics issues,” said analyst David Greenall. “We see solid organic revenue growth, driven by the emerging markets operations. “We also see some degree of margin improvement (which although limited does contrast with other outsourcers, where margin pressure is a feature).” Greenall has set a price target of 320 pence. At 11.22am, the stock was changing hands for 264 pence – barely changed on last night’s close. He is predicting G4S’s profits will be flat this year, while the dividend is forecast to rise 0.4 pence to 8.9 pence, giving a yield of 3.4%. The analyst has factored in a £75mln charge related to the botched Olympic contract, although he points out “the company has been adamant that the [previously announced] £50mln loss will be maintained”. “Emerging markets remain the key growth driver at G4S and may also help drive the group margin over the medium-term,” Greenall said in a note to clients. “We see this as a key differentiator versus security and outsourcing peers.” http://www.proactiveinvestors.co.uk/companies/news/52227/g4s-named-rbc-top-pick-52227.html
Date Broker name Old price target New price target 18-Dec-12 JP Morgan Cazenove Overweight 345.00p 345.00p Reiteration
G4S could be enlisted to provide support to the Department of Work and Pensions in the future if the government needs additional capacity to handle its call centres, Sharecast has learned. A spokesman from the Department of Work and Pensions confirmed to ShareCast that G4S, the security outsourcing group, was among six companies on its list of potential suppliers although he said there was no guarantee that any of the companies would receive any work. "Framework agreements with six suppliers will allow [the] DWP [Department of Work and Pensions] to procure contact centre requirements over the next four years, if needed," the spokesman said. "[The] DWP's own call centres remain the primary point of contact for claimants and there is no guaranteed work for any suppliers on the framework," he added. The inclusion of G4S among a list of prospective support providers comes five months after G4S failed to fully deliver on its Olympic Games contract. During the Games, UK ministers had to mobilise an additional 1,200 troops which had previously been put on standby in order to supplement the security workforce deployment of the Olympic Games.
Panmure Gordon has upgraded its rating for security solutions group G4S from 'hold' to 'buy', saying that the stock could rebound following recent underperformance. "We think there is scope for the shares to recover back to its pre-Olympic peak, and do not subscribe to the view that the UK Government outsourcing market is firmly shut for the company," the broker said. "As the outsourcing sector has continued to re-rate, G4S has stood still presenting an attractive entry point heading into 2013E in our view."
Panmure Gordon has upgraded its rating for security solutions group G4S from 'hold' to 'buy', saying that the stock could rebound following recent underperformance. "We think there is scope for the shares to recover back to its pre-Olympic peak, and do not subscribe to the view that the UK Government outsourcing market is firmly shut for the company," the broker said. "As the outsourcing sector has continued to re-rate, G4S has stood still presenting an attractive entry point heading into 2013E in our view."
Galvan Research has labelled G4S as a 'buy', following the recent move by fund manager Invesco Perpetual to raise its stake in the security solutions company. "The fact is that regardless of the summer Olympics debacle and post summer upsets that have seen security group G4S lose contracts and money, Invesco Perpetual are still happy to put their money on the line. Clearly the fund manager believes that G4S has a dominant position and is big enough as a company to withstand and overcome such problems, a view that the Galvan Research team also concur with."
Security firm G4S has announced that it is to acquire the South African retail cash solutions technology provider Deposita. The UK-listed company will take an 87% stake in Deposita for a total consideration of 114m rand (£8.2m) post debt restructuring. Deposita, founded in 2004, is the market leader in cash devices and related cash-in-transit, cash processing and insurance for the retail sector, G4S said. "The acquisition of Deposita will significantly strengthen G4S's position in the South African retail cash technology marketplace, which is forecast to grow rapidly over the next three years," the company said. Albert Erasmus, the Managing Director of G4S Cash Solutions South Africa, commented: "This will accelerate our growth via the addition of exciting new capability that will assist the development of the cash business via the provision of more complete end-to-end solutions for our customers".
G4S: Jefferies upgrades to buy, target price of 275p kept.