Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Redarmy you appeared again ! Crying over your spilt milk ! Who's post code do you want 3193pw that's mine pal.
No news ??
May I enquire if there is some witty remark behind your comment?
A full-year loss seems likely, especially as Speedy said today that negotiations with a potential buyer for its unwanted Middle East operations had failed to reach an agreement. This could lead to an impairment charge and possibly cash losses, later this year. There’s also a risk that Speedy’s net debt, which rose to £105m last year, could become problematic.
Shares in tool and equipment rental firm Speedy Hire (LSE: SDY) fell by more than 30% when markets opened this morning, after the firm issued a major profit warning. Speedy said that after “a slower than expected start” to the year, profits for the 2015/16 financial year were likely to be “materially below the Board’s expectations” and below those reported for last year. The company gives three reasons for its poor start of the year, but to be honest, I’m not totally convinced this is the whole story. 1. Equipment shortage The firm says that there was a shortage of equipment during the network optimisation programme. This refers to the reorganisation of the company’s national and regional distribution centres. However, in its final results, published in May, Speedy Hire boasted about the successful and early completion of this programme, during the last financial year. Why is it still causing problems now? 2. Ignoring customers In today’s statement, Speedy Hire says that sales suffered because of a “focus on strategic accounts at the expense of SME customers”. The firm’s strategic and major accounts accounted for 51% of sales last year. In last year’s results, there was a lot of waffle about new sales and support structures for strategic accounts. At the same time Speedy Hire said that its market share of local and regional customers had fallen, due to its strategy of moving away from local markets. The firm said that it was “starting to re-engage with this customer base” but that it “was no small task”. 3. IT problems The third reason given for today’s profit warning was “poor customer service caused by disruption during the implementation of a new IT and MI system”. Yet in last year’s results, the firm claimed that it had completed the implementation of the new IT systems. If this is true, why is it still causing disruption? CEO walks plank In my view, all of these problems are the result of poor management. I was not surprised to learn that the firm’s chief executive Mark Rogerson has decided to leave the business. However, Mr Rogerson is being replaced by the firm’s finance director, making me question whether this management overhaul will be significant enough to solve Speedy’s problems. What’s really wrong? Speedy’s shares have now fallen by nearly 40% this year. The firm is the second listed equipment hire company to issue a profit warning this week — shares in HSS Hire Group fell by 25% yesterday, with the firm blaming weak demand from major customers. I suspect that demand from strategic customers is not rising fast enough to make up for falling local sales. I wouldn’t be surprised if Speedy issues another profit warning later this year. A full-year loss seems likely, especially as Speedy said today that negotiations with a poten
Trading up date due out 10th. I honest think that they will say that they have cut cost, restructured, sorted computerised problems out, re directed sales to include SME. Although this will take time to filter through. I would say that they are still behind and remain at a loss. although structured there new financial commitments. Working for a long term recovery, Buyers found for Middle East operation would not surprise me, although a guess !! Let's see !!!!!!
Are results due on Monday reading previous posts ? Many thanks
Sounds like the same old story jonny - when will they start to listen to the guys in the depot who only want to be able to hire out good kit at good worthwhile prices? I believe that after getting rid of the regional managers and replacing them with a smaller number of regional directors, they are now getting rid of some of the directors & replacing them with Cluster Managers which is just another name for the old Regionals? No wonder you guys feel it's going round in circles. Fingers crossed for the 10th - there is a lot of good people in Speedy with relatively low-paid jobs (the days of decent bonuses are long gone) sitting on SAYE schemes that they invested every spare penny into that will mature at a lower price than they bought them. These guys who had faith and invested their money into SAYE don't deserve to suffer because of the failures and inabilities of those earning six-figures per annum. Keep fighting Pal.
hi, view from the inside, new structure (basically the same structure)....no new ideas or talent, figures still languishing...some "large wins" (over exagerated by directors on potential spend)... the 10th will be - times are hard, we over forecast, we have reforcast in line with expectations, we are lowering our overheads (done already.....round we go again!).
Better you take a good look at your post coming on here with your ideas and b....s... Where you get STRONG BUY " Ramper that's all with a few shares
Well let me put it into basic English for you Mr Dutchman - yes we all know the 10th is half year (well done clap clap) and yes we have all seen the press releases and the statements - but you have not got a clue what is going to be said by Speedy on the 10th. Pretentious quotes by you and your counterparts Walking Loss and the VD 123 or whatever their names are are not necessary and unfounded. Button it and talk sense don't make it up as you go along .........numpties
Some nice buys this morning {:-))
Hard to express in English when flyingdutch involvement sorry but will try get right translation
We'll does your question about the 10 th Nov really needed explaining? I notice you say strong buy every time you post. I don't wish people to lose there money.... Why would you state Strong Buy the results are due to come out !!! We already been told they behind expectations so who's " the numptie !!! I guess you look at your statements read company statement and stop your Strong Buy. I give you some advice sell your shares know and buy more with same coin " when results are out !! Nothing inside here just common sence ....ps does your username say anything about your self
I'm really intrigued to know what you two numpties think is going to happen on the 10th or if you have some kind of crystal ball? Or inside information?
Perhaps he's writing in Dutch :)
:)
Ffs - that was hard reading
The fact that people ! On here express the views will never change share price. In fact I can't see real dealers only reading and expressing views and taking notes of reports from Speedys Written statements. It's up to dealers / hedge funds what make the different. Although when the future and past given by Speedy doesn't add up to anything on losing money small share holders write there views. Good or bad it will not de / ramp this share.
As i can see some of the posters on this bb have just shown up in the past 2/3 months and have run speedy down i take no notice of them i have been here a long time and have made my money years ago all i have now is a small interest in speedy but i think they have a different motive planed [;-))
I'll be the first to hold my hands up and say sorry....... Unfortunatly for you lot I'm right like I have been for 90% of my posts
Great post!!! why are there not more fine posters like you on this BB and beyond?
I suggest there will be a huge apology on this message board on the 10th. From which side of this argument it will be coming from I truly do not know. I would hope however the apology will be forthcoming. It's going to be an exciting ride either way. Good luck to both sides and remember to be gracious in defeat.
I see what you mean by the numpties they are the low life and brain dead ,ignore them
Fine keep investing, we'll see who looks a numpty after the 10th