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Popped up on Newsnight to assure the word that outsourcing as a concept is not tainted by the CLLN failure. I made good money for several years out of Cable & Wireless under his tenure and so have no complaints about him. However, would I invest in Mitie, Interserve, Serco or G4S? Not a chance!
RNS 20th November FRC update Mitie has been advised by the Financial Reporting Council (FRC) that the FRC's Corporate Reporting Review team's review of the annual report and accounts of Mitie for the year ended 31 March 2016, which was initiated on 13 October 2016, has now concluded and that they do not intend to pursue the matter further.
I take it the results of the investigation not announced yet.
Justly merited.
The short squeeze is definitely on!
Open a CFD or spread-betting account to go short. Then your broker can explain what to do. PS: I had it explained to me like this. You borrow shares and start off with a sell order. Say the price to sell is 100p. Then the price goes down to 90p, as you predicted. You decide to close the trade, so you buy shares at 90p, give them back (your broker does all this) and you pocket the 10p difference as profit. Et voila! and good luck. PPS: In my view going short now is not a good idea, especially after today's news. You might want to wait and see what the next trading results are before deciding.
http://www.constructionenquirer.com/2017/05/03/mitie-cuts-160-jobs-as-another-50m-in-write-downs-revealed/ According to the article today this follows a 2 day review so I expect more bad news to follow. They are writing more parts of the business down every few months, I think that will continue for a while. Fair play to the new guy in charge, he is trying to turn it around.
Finally the report on KPMG's work has been made public. I expected worse.
If I knew how to short I would all the way to 1.20 on next profit warning!
Are u kidding me? This is going tits up imho
Where did you get 15 dec Thankyou in advance
Ex-Dividend Date - 15 Dec 2016 Payment Date - 01 Feb 2017
When does this go Ex div. Cant seem to find info.Its normally has gone by now?
the drop has now been covered, price is back to where it was, Major Inst got there shares @ 15% discount all they had to do was tell us the same information twice on the RNS.
Classic Tree shaking: RBC Capital Markets downgraded outsourcing company Mitie 'underperform' from 'sector perform' and cut the price target to 160p from 195p on the 16/11/2016. On the 18/11/2016 Silchester International Investors LLP goes above 12% holding.
Still climbing I see, can see this pulling up to 230 prior to results and then hang in the balance results-dependent. Any thoughts? Depends on divi I guess and whether results are as dreary as last update
support Readmylips would not touch with a barge poll at the moment may be in about 3 months time lol
Building up a nice support around 200 now - what time for the next push up?
Added a few at 180.Bargain of the week.