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I make that nine very good trading updates in a row now. North Lanarkshire contract will be finalised soon and will give a big boost to SP. Lots of positives I reckon.
Mears perhaps should either have mentioned today with the Interims or put a separate RNS out that they suffered a legal defeat two days ago that will be costly - £6.5 million. https://www.building.co.uk/news/high-court-orders-mears-business-to-pay-housing-group-65m-following-contract-row/5124451.article
It is referred to under Provisions in the Interims, but no mention they have actually lost the case.
Positive interims building on the recent profit upgrade message.
They are the only bidder for the massive Scottish contract.
Share buyback will be completed ahead of schedule (no surprise of course with recent buying), and the pointer that the Board may introduce a further buyback programme.
Thanks Alan appreciated.
There could be many reasons for Milton selling, some of which could be due to their own investment situation rather than anything specifically relating to Mears, so I wouldn't necessarily take it as a negative for Mears going forward.
I have never been a fan of share buybacks as I have seen examples where large sums have basically been flushed down the toilet. One example was the old Cable & Wireless. The company that took over part of C&W - Liberty Global has also engaged in big buybacks and the share price has gone backwards. If the excess capital is not being used for investment purposes I would prefer a special dividend. But there will be some who argue for buybacks for tax reasons and some directors have an element of their remuneration package based on share price increase.
Hi Alan80 - New to the post and have acquired a position with MEARS. I have also worked alongside MEARS on social housing contracts which they dominate in the sector. I am not really that experienced on buybacks so would be grateful if you would offer your opinion on the following in relation to Milton and buybacks :
1. Why would MIlton Sell the shares if MEARS are in line with their financial expectations ?
2. Will the buy back eventually benefit the shareholders once the total 20m has been taken ?
Thanks
So we have our answer - they have been hoovering up shares sold by the Premier Miton Group. Would the seller have sold without the buyback in place?
4.1 million shares now bought, which means half of the £20m allocated has been spent in just 2 months when they said it could take 18 months to complete the full programme. There could be a big seller whose shares they are hoovering up.
Yes and for a good reason! This price will be long gone once the Scotland contract gets announced
Huge increase in buybacks over the last week. If this carries on the £20 million allocated for buybacks will be exhausted in a few weeks.
The perfect storm is brewing, if the Scotland contract gets announced then this will fly to the moon!!
Well that tranche is back in profit now and I'd be a lot worse off if I'd listened to you and taken your advice to SELL at 152p DayTroll. BTW , FYI - MER just had its 15th consecutive 'up' trading day. Rejoice !!!
Keep digging that hole DayTroll, it's funny.
"thanks to inflation, your cash now also buys you far far less than it once did"
Well that is just dumb as inflation applies to everyone - you included. "
Of course it does, but only if you do nothing financially sensible with the money over the 5 years (i.e. make a return on it) like you failed to when you were stuck in here underwater.
You know perfectly well you should have bailed at a small loss many many moons ago when this first started to slide after you bought in, and then used the capital elsewhere for a year or four to earn a return, there were so many oppertunities to do so.
Then maybe buying back in.
But you didnt.
You held as inflation further eroded your capitals buying power.
Far to dim to have a basic grasp and never listen, thats your trouble.
You are good for a giggle though
Looks like I need to revise my forecast, and £3.50 now must be achievable in the short term
Have to do better DayTroll
"thanks to inflation, your cash now also buys you far far less than it once did"
Well that is just dumb as inflation applies to everyone - you included.
Luckily for me the 84% rise here in MER since your 152p SELL rec has cushioned the blow.
Keep digging that hole though DayTroll, it's funny.
Well back to breakevens on the sp now unclue
Only took 5 years after you bought in and the promptly price halved lol.
Unfortunately, thanks to inflation, your cash now also buys you far far less than it once did.
And all those missed other opportunities along the five years of stagnation of waiting.
Not bad for a claimed "18 year professional investor"
dear oh dear
Unexpected Trading Update Today (see RNS):
"Mears (LSE: MER), the leading provider of services to the Housing sector in the UK, is pleased to report that the Group has experienced strong trading in the first five months of its financial year, with continued elevated revenues, improving operating margins and excellent cash performance. As a result of this continued strong momentum, the Board expects full year profits to be materially ahead of current market expectations."
Amazing how terribly wrong you called it DayTroll ! Sell at 152p wasn't it? Oh dear.
Ahead on predictions
Not ex divi yet either for 7.25
Miles off historic highs
🤑
Yeah unclue whatever you say.
The ideas actually to make money not remain underwater for so so so long.
That cash value of yours (thats still underwater just on price bought) is worth so so so much less too, after being tied up here for years, missing out on sensible oppertunities elsewhere and inflation over time.
Your not very good at this game are you? Notice you didnt mention your ryanair bankrupcy prediction from 2022 lol.
I don't get why you keep lying and digging that hole. Right little keyboard warrior aren't you?
I paid £2.74 not £2.78 Daytroll. Plus it's 4 years not 5. Remember I uploaded a pic of that trade so you should really try and keep up. Oh and don't forget the divvies which actually means I'm in profit on that trade. Your hole is huge now.
You still havent got your £2.78 + buying fees back yet unclue.
All those wasted (FIVE LONG) years and missed opportunities elsewhere, tying that capital up for absolutely nothing, and i wont even mention its loss of buying power with high inflation, whoops, sorry.
No wonder you lose money everytime at this game.
Still waiting for your 2022 prediction of bankrupcy for Ryanair lol, hows that coming along.
The MER SP is now up 70% from your 152p SELL rec DayTroll.
No need for you to comment - the hole you've dug is big enough already.
"im not trying to get you to sell"
I want you to HOLD your losses.
But cease the usual mo of ramping everything you buy and trying to sucker others that havent seen through you yet.
Unclue, tell the truth for once man, it was your only purchase. You posted the only buy note you have despite saying youd post "them all". They dont exist..
And your still underwater after 4 or 5 YEARS, yet you have continued to ramp this for yonks, saying "soon be £3", "£3 at the year end" etc etc etc
Well it isnt, it wasnt, and exactly WHICH year are you talking about?
That trapped capital value has eroded away over the last 5 years. You probably need a figure of around £4 to break even factoring that in now. Should have used the money elsewhere to make back your losses Looooooonnnngggggg ago.
And you know it
It might be "up 59%" but you are still underwater and
DayTroll, you really *do* make me laugh. First, that was not my only purchase. Second, the MER SP is up 59% from your 152p SELL rec and yet still you keep digging your hole bigger and bigger. If you're only here to try and get me to sell then you're wasting your time. Actually, why are you here?