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I agree with the school bus sale being tough going. I also think if there was 'real' progress and we had acceptable bids then the market tends to react ahead of news and we've seen the opposite. So its either locked tight or not good news, I fear the latter given the last two years. I would wait for news now and reassess as there will be a lot of opportunity to get in, if good news is forthcoming. A strong sale of US School bus should see us rising towards £2 at least but it will take a while so no rush. You might miss out on 30p but still gain a £1+
I lost faith in this. I fear the US will be wanted at too much discount in the current climate. So the question is can they service the debt, grow and remain in covenants without a US sale?
This SP is really tempting but probably for a reason. Having reduced to a very small holding I’m not sure whether to jump on the merry-go round again or simply buy on news.
Or 5. Bid incoming !!!
Why delay results as the board have stated that the German Rail contract provisions will not be ready in time for results. So why wait and allow further damage to the company's value? the only scenarios I can think of are:
1. They are close to being able to positively update on NA School Bus
2. Finishing off Q1 update for a positive spin
or negatively:
3. The auditors are giving them hell and they don't want to publish on their worst case basis
4. There has been US impairment as well and they daren't publish without either 1 or 2 being ready or they'll be reaching for the exit door
Theres nothing else to wait for. What the hell is holding this up while we get battered every day?
Garat & Stamp are probably cutting & pasting Kenny Wilson's resignation speech!
Well the pricing & the cost reduction stuff are a work in progress & will take time to filter through. The big issue is the co is stumping up £80m pa in interest costs to just service the debts. Along with the impairments & stuff it all is eating into the bottom line. If the results can show a small profit at least & positive progress on NA we should have an upturn. If they turn out a loss & no NA progress this is tin hat land i'm afraid!
Agree Paddy was using the buses as an example as price hikes need to be addressed across all business segments. Can we trust these guys to negotiate a good price for the NA business when they are not even getting basics of business operation right.
If they can shore up the balance sheet it removes a lot of the short term uncertainty here which the market will respond positively to!
Smokey, The buses stuff is fairly small beer here in context. We need to know have they or are they selling NA & if so at what price. I believe if there is a sale going through at a reasonably good price this will turn upwards. If no progress on that front then further drops i suspect. The pricing issues & he Germany stuff will be rectified in time but the NA sale is critical IMO!
In the 50s we go, majority of us are fighting to just get our money back at this rate. Easy to say long term this will come good but with these clowns at the helm we do not stand much of a chance. They can start by getting basics right and increase the prices on buses, yes they are getting funding from the government but that does not cover turning into a profit. We're not a charity ! Not rocket science, if your going to give a 16% pay rise to drivers or whatever it was then that gets passed onto fares. Rather have e.g. 80 passengers on the bus paying £3 rather than 100 paying £2. People will still catch the bus as what is the alternative, every other mode of transport is more expensive by at least 50%.
Barney, i imagine most punters will be waiting for the results announcement before adding or committing funds here. On the basis of what they've told us so far this is way too cheap. the problem is we, & especially anyone who's been here a while have become so used to this lot dropping some shocker that it makes sense to wait. I think i'd rather pay a slightly higher price to have some assurances going forward. No announcement this week & i think we'll be seeing 50p or lower!
A year or 2 ago, we'd have been remortgaging the house to get in at this price :-|
Now even at this price i'm not a keen buyer....unless The Nacho & Stamp clowns make an exit.