Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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3 February 2014 Speedy Hire Plc ("Speedy") New Services Agreement with Babcock International Group ("Babcock") Speedy, building on its existing longstanding relationship with Babcock, is entering a significant, 3 year services agreement with the company. The agreement could generate total annual revenues in excess of GBP10m p.a., although there is no minimum spend commitment by Babcock. The new agreement will see Speedy support all of the Babcock's UK divisions with an extended range of plant and equipment products and services, making Babcock one of Speedy's most significant customers utilising Speedy's integrated services offering. Mark Rogerson, newly appointed CEO of Speedy, said: "This new services agreement builds on the existing support that Speedy already provides to Babcock's Marine & Technology Division. I am delighted that Babcock has given us this opportunity of broadening and deepening our relationship with them". ENDS
No 2 YES.? No 1 HOW LONG IS A PIECE OF STRING ?
Two questions as am new to all this. 1/ How long will the financial investigation take? Deloitte & Touche were assigned few days after the international problem on the 28th Nov. 2/ Outcome will probably be negative. Will the share price drop due to the report?
if you sell that is ?
nice little return- about 20%
going down? i think not
The share price will drop a great deal further, this report was before the SC saga
Technical analysis: The stock price has been going from one extreme to the other. The 52-week differential is higher than 90%, which makes this stock attractive to risk lovers willing to sink or swim. The stock has not made any clear signals suggesting reversal of trend.Valuation Analysis is a simple comparison of what the current market prices would represent to an acquirer of the company in relation to numerical aspects of their business. This is useful at determining whether or not the stock is a good value. However stocks that are a good value often have negative operational trends and good value on its own is not a convincing argument that a stock should be bought. Conversely stocks that are overvalued often have positive operational trends.The stock is priced at a standard market premium in relation to the sales the company generates. The company's market value represents a standard market valuation premium to its assets. The company seems to have carved out a place for themselves in their industry, but it is a place of mediocrity.This is an analysis of their business activities over the last 12 months and how this can impact the company and it's share price over the next year The company's sales have increased by up to 12% on an annual basis. The company's earnings are growing but at the unimpressive rate of less than 10%. The company's gross margin has more or less remained unchanged on a quarterly basis. While the company has made no progress, it has also managed to consolidate the business results achieved in the preceding quarter.
Usually a good sign I rekon.
Just made a very modest purchase to see how this goes over next 30 days or so. Interesting article in newspaper on Saturday, and I have a customer who is major supplier to Speedy so very limited research. With slow upturn in UK economy might an interesting punt. Plan is load up whilst below 55p or after 30 days depending how it goes.
Do some further research pal! Understanding market cap, share issues and how the stock market takes a view on profit warnings and accounting errors. The markets are very volatile as you have seen Speedy have had £50million wiped off their stock, buy these shares cheap though and a great deal of money to be made long term. Regards the £5million which will come off their bottom line, this is 25% of their profit posted on the last set of 12 months results, based on Speedy's profit margin of just 5% how much turnover is needed to produce £5million? £100million on a 5% profit margin is your £5 million. This is a big deal and the real figures are not out yet, lets wait for the investigation. Reputation is everything when your a FTSE company, private company different and the quality of your kit and service is all that matters - do share holders give a toss of the quality of a Hilti, 500kva generator or a 6" dsl pumpn - NO! Reputation is everything when you float on the markets - good news invest when they hit rock bottom and learn from Aplant 2003, Speedy will be great once again in years to come. Good luck to you all
Daily mail reporting rumours that activist shareholder fund Toscafund has hooved up a 5% stake. Should generate a little buzz when trading resumes come Monday morning.
I bought shares in this company when they were down on the floor some years ago- and have never regretted it. The events reported yesterday are unfortunate, but do not alter the case to invest in this company- which remains strong! A management failure certainly occurred, and is being dealt with properly. The CEO has taken commendable action promptly- by resigning- since the failure occurred on his watch. I have no doubt that matters will be resolved in a couple of months. In the meantime, the share price may suffer- as it has done today- but will then surely recover in due course. To a serious investor, the present dip in the share price represents an opportunity to invest further in Speedy- prospects are good- both internationally, and in the UK. This is a time to hold your nerve- not panic! After all, there is still that possible bid in the background- and with the share price lower than it was earlier this week, this might well encourage predators! Speedy is good company- and presently quite cheap!
a fool and his money are soon parted
I am a betting man. I have an accumulator tommorrow that (if the other 4 results come in) will give me a return of around £1,100 as long as WBA beat Newcastle United away from home. If they don't win, i would't dream of going on an internet forum to **** off WBA, their Manager or their players. So why do you feel it neccessary to do so about SDY - it was your choice and you should have researched. I do question the validity of your post though, as the SP was not 40p 2 years ago.
spdy4yrsago bought@40p no divi vp 4yrs ago bought56p 6%divi nowover500p
New to this share, as always attracted to sudden drops, and hopefully quick recoveries..... I agree with your post, it looks like someone has over inflated contract wins/turnover reported, presumably to get a bigger bonus/retain their job/look better in an internal league table, happens all the time I am sure and in bigger businesses would just be dealt with internally but here is big enough relative to EBITDA figures to stick out a bit. Knocked a bit of confidence somewhat and restating the accounts may not show the fractional growth reported at 6 months. I'm tempted, as this will be investigated/blow over and the Construction market is picking up so...... Hang in and tough it out, may join you Monday :) No one has run off with any cash (apart from an enhanced bonus maybe)
Sorry mate, but your last post again came across as a rant - not a balanced view. I find it strange that you tell me that you invest in two companies - yet totally berrate the Management of one of them. What were the driving factors behind you investing in SDY?
Thank you. I am not 100% in the know about this - so forgive me if I am proved wrong- but as I understand the situation nobody has stolen anything from the company. My take on it is that somebody in our MENA region has reported that our contract wins are better than they are actually are (to the tune of circa $5m) and that figure was reported by SJC to the city as part of our H1 update. These figures have now been shown as incorrect, so SJC has done the honourable thing and offered his resignation as it has happened on "his shift".
I hold shares in speedy and vp, these companies operate in the same markets the only difference vp is a far superior company and you wouldn't get an rns like this from them cos their management is far better hence more successful and far more profitable hence city loves them hence no worries.
hit hard with the rns yesterday, did not help with getting a downgrade from brokers panmure Gordon. only a week ago liberum capital had it as a buy with a target price of 88p. I still like the company but would like it at a lower price.
Thanks redarmy and dalesflyer. Fraud in a company is never going to be good but it has seemingly been swiftly and appropriately dealt with. I'm puzzled (again I guess because I'm new at this) why someone nicking £5 million could devalue the company to the tune of many million more. Surely if a company is worth £300mill and someone nicks £5mill the company should (once the dust's settled) be worth £295mill. Does this mean that the company is technically undervalued with today's tanking and prices should pick up??? I'm liking your positive thoughts redarmy, even if they are biased. Reputation is everything in some business, but in plant hire the quality of your kit is probably more important to most customers..
Fair comment and apologies if I have got this wrong. I am alway's suspicious when people come onto a forum without giving a balenced view, not showing any true insite into the how a business works and not giving any indication of what their interest is within that company. You coming on here and throwing in words like fraud (when an independant investigation has not yet even begun), led me to believe that you may have an agenda against the company.
by the way I run my own successful business thankyou.
I have never worked for speedy and have no agenda.i speak as someone who understands what fraud in a company can do to investers confidence,if it was your company you would be on the ball. just look at rsa another fraud job that inevitabely will cost ceo his job.