George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Buy set at 29p is my thoughts.... Maybe add more on the way down?
Results next Tuesday 6th and expecting dividend to be increased by 12% to 2.44p.
My forecast - Turnover increase by 16% and profit - goodness knows?
SPEEDY spent £30 million last year on share buyback then discovered theft of £20 million (that wasn't theft or lost).
Can they afford a dividend hike to reward us long suffering shareholders who have seen our funds dwindling over the last year?
I got some of these on Friday at just under 33p.
I regularly walk past a fairly new depot which seems busy, which prompted me to take a look at the company.
I'm hoping for a retrace to about the 40p level now the problem looks fixed.
Speedy has ruled out fraud following an investigation after £20m of kit was discovered “missing” earlier this year.
...... just management incompetence then
personally I'm increasing my holding
https://www2.deloitte.com/uk/en/pages/press-releases/articles/business-confidence-bounces-back-for-cfos.html
Wouldn't it be nice?
"Speedy Hire a ‘buy’ following reassuring update, says Liberum
Liberum sees ‘significant upside’ at tools and equipment hire group Speedy Hire (SDY).
Analyst Charlie Campbell retained his ‘buy’ recommendation and target price of 70p on the stock, which slumped 5.7%, or 1.9p, to 30.5p yesterday.
The trading update for 12 months to the end of March was ‘reassuring as the board reports that it expects profits for the year to hit consensus expectations’, said Campbell, although 14% growth in revenues for the year implied a ‘slowing in growth to plus-10% at the end of the full-year.
‘The main driver of revenue growth in the year has been hire rates, which have been improving as the industry has been disciplined in recoupling input cost inflation,’ he said.
The group has also boosted savings from £3m to £5m after operational improvement and management restructuring, which Campbell said gives him ‘confidence that our cautious full-year 2024 estimate is achievable.’"
I think we could be heading for sub 25p. Bought in at 38p only a few weeks ago. Do I just cut my losses?
No surprises in the update. 14% revenue increase so not all bad. Hopefully we have constrained costs to a level that demonstrates control and opportunity for the future.
The last 12 months has been very trying and I can't image where the price would be without the buy backs.
Good resistance at 28p from a previous low...
It's concluded at long last. A total of 12.8% of the group share capital have been bought to the tune of £30m which numbers 67,713m shares.
Average purchase price was 44p not a great investment for the group as paying a premium to today's share price currently 37p.
One for the patient investor this one.
Travis Perkins closing some Toolstation depots.
Around 4m more shares bought back since numbers2 post on 9 feb, looks like he was spot on and buybacks may of ended. Will be interesting to see where this goes without them.
Wow, big sells today...
Grabbed a position at 36.5p, but watching before anymore.,.
I think it must be a little more fundamental than that - I would hope before you put out an announcement, somebody asks - are we really sure about this...? speaks to real lack / failure of basic controls.
perhaps you should reduce directors shareholdings by the equivalent of the value of accounting errors made...?
£20m is about 40m shares. I think that's like a £40m hit. This has to be funniest thing to come out of Merseyside for years.
Should shareholders be concerned that the COO who was in charge of the operational procedures which resulted in the latest debacle and share price hammering is now the CEO ?
Music to my ears if true Urban!
Also on an optimistic note, analysts at Peel Hunt wrote in a note to clients: “We suspect the deficiency [at Speedy Hire] was caused by a combination of overly long depreciation periods (ie assets have been likely scrapped, lost or not returned) and manual processes, rather than a systematic fraud.”
Perhaps all is not as grim as first feared!
The majority of it is not lost at all, its just not on the accounts due to being accessories for the assets that have fleet numbers.
Someone in the assets team deleted all stock of non itemised accessories in error but in actual fact it is all sat in Speedy depots and workshops.
Arthuretta see Budgie's post from 26th January:
The number of shares in issue is currently 469,174,373. So probably another 4- 5 million shares to go before reaching the full £30 million limit.
Peaky Speedy only bought back 213,000 shares yesterday when at least 15 million were traded. Hardly a shed load is it.
They bought shed loads yesterday, looks like they are buying this morning as well.
Got to be close...
I'm waiting for results and inevitable drop in housing work.
The share buyback seems never ending, anyone know when it will end? I still think this looks undervalued but maybe need to wait for the results before getting back in.
I sold out yesterday as well, management may not have told the whole story here, and buy backs ended..
How are they running a company if they can loose 20million of hire equipment??!!
And on that thought I sold out on the bounce this morning at my original purchase price but missing out on the fairly nice profit I was in