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I agree to a point that all plant hire companies have been over aggressive but Speedy have been over aggressive in selling the kit they don't run and chasing the larger national deals that don't give the return. It is sometimes better to walk away from the deals with KPI's that are impossible to achieve
Connish,all plant hire companies have been over aggressive in the market for the last 8 years. This is due to chasing a decreasing market, post recession, and having large amounts of kit sat not earning. £4 cut off saw anyone? £20 6kva generator anyone? Speedys woes are primarily driven by it trying to be all things to all people (sorry a service provider). As someone said on here earlier, hire is very simple, if you do it right and have people who know the industry (and by that I mean they haven't read it all in a book.) Speedy need to get back to what they did very well - hiring good kit,providing strong service,and looking after the teams at the sharp end.
They could lose there larger share holding early next year " when shares and profits are going to be lower than market expectations. This could trigger a takeover deal with hedge companies or other plant companies. Maybe some management within the industry could restructure this company within this period ! hopefully this is happening now before the boat sinks. Any thoughts !!!
Speedy will struggle to find a purchaser with the current state of the business....or someone may buy and asset strip. They are now feeling the effects of being over aggressive in the market place for many years and imo it's going to take a while to turn the business around. Get back to basics...plant and tool hire ain't rocket science ;)
Sorry for that I am a little out of date and the fact is they are now owned by a private equity group but were put out for purchase by Finning which had recognised they were not a core operation after nearly fifteen years of ownership. That should send alarm bells ringing round the speedy offices as there are not likely to be any shining white knights out there ,as I speak the share price is plummeting.
Hewden are not owned by finning.....There are certainly a lot of u researched know it all son this BB recently!
those who talk of a takeover, all I will say is ''then the alarm clock rang''
Non starter. Geoff Drabble commented on the Group's bolt-on acquisition strategy at the 2014 FY analyst presentation. He stated quite clearly "...we don't like doer uppers".
Hewdens are owned by Finning UK and are a well run organisation as they were before the takeover previously Hewden Stuart previously Stephenson plant. That was pre speedy existence during the Stephenson plant era and they were hard nosed ex operators and managers who new the business .The dominance of so called educated suits in the game as brought the Plant hire game to its knees and the sooner they let the boys who grew up in the game run it the better it will become.
AHT a proven and well run performer Some of Speedy or all of it's operation!!! could be up for grab$,well located facilities for example Bring in the PROFESSIONALS
Ironic if Hewdens were to do so
Just a question I told you years ago to buy AHT and forget SDY did you take my advice ? Was less than a pound then 1018 NOW. Your answer will tell me a lot about you and share buying.. Skills
I know Morgan's , Gallifords , PACS and NMC are all just weeks away from pulling out of there contracts and rumours of Babcocks ending there agreement early are gathering pace, all EC's doing
So when you announced to the world on the 15th August 2015 that you were gone long ago, last year when it was in the 80's, were you telling porkies then? You old chap are full of it. Now stop stalking your ex and get on with your own life.
Agree his knowledge gap counts against him. Finance based thinking seems to be " cut back to where we are" as opposed to "cut only to where we could and should be" That said Speedy are heavily geared with numbers rapidly heading south so the cloth cutting could well be fairly brutal in the coming months. What scares me are the rumblings (getting louder) of some high revenue contract losses.
Bone Head.! I still have.!! I still have.! Do you understand that ? I still have 18k in, obviously that means I've taken an amount out. Do you honestly think my posts on here have any bearing on the SP ? And are you that stupid to think that I would show my hand with regard to other companies I invest in. Get real FFS..! I'm on here because I love bone heads like you.! And the good morning speedy jesters.!! Jesus wept..! Love it, I really do love it. ;-)
I don't know the current CEO, though it seems a very tall order for his first CEO compounded by having no industry experience and customer base that's fed up see seeing a very simple business made complicated. getting the right competent people around him quickly that he can actively target and cherry pick, will also be vital. If those problems can be overcome soon then hats off. Sadly I'm not describing the knowledge, skills and credibility required, combined with the likely approach of a pure finance guy........mmmmm
I do not believe for one minute there is a company in the Plant game would buy Speedy for any money. It is a basket case with a mountain of debt and a strategy that is leading to Liquidation.It as lost its Market leadership and is stumbling around in the dark room known as" what the f--- are we doing." The management is naive they have no perception of what it is like on the shop floor and are hoping they will solve the problems with big words that impress only them. If I were still in this stock and thank the lord I am not I would dump it now and get the hell out.
I agree. A Plant could have taken Speedy a long time ago if it offered any strategic benefit. I would like to see someone like Melrose Industries get hold of it. They know how to turn a business around and would put the right management in place. Then mix it up with A Plant in the states. Still plenty of scope over there.
Do you feel that the current team have that track record. I don't see it personally (just my humble opinion) Do you feel anyone of any real quality and standing within the industry would join Speedy,once the long overdue clear out commences. Agree Speedy has become a generalist and this gives end user very little confidence in knowledge levels,especially in the specialist offerings The cost of unpicking the MSC network would loom large over a few years accounts,would they not. No question over your track record,don't know you.....
18 months is based on the principle of the leadership having a proven track record, access to the right people, confidence to manage shareholders following to many pipe dreams. Focus needs to be placed on ROC during this term not utilisation. Market penetration is achieved from being experts in the appropriate discipline not average generalists (ironically VP and speedy have reversed their respective models......speedy madness) Genuinely believe these problems can be solved in the suggested timeframe, establishing a foundation from which the business can move forward strategically......and have a track record to support my comments.
You aren't a million miles away with your list of fixes. The cost to release MSCs would be extremely onerous (far too much to carry I feel) given upcoming £value half year position. 2 years plus recovery more realistic I feel. Just one other thing,hearing a lot of chatter that the Valero onsite contract has been lost to VP. If true this will hit hard as its multi £m,especially during a regen year. Anyone else heard this??
Good morning all speedy investers. posts on here getting a bit more intresting {:-))
Just in case anyone out there is having doubts about whether or not this ejeet is a serious investor or not, I have copied and pasted two of his posts below that prove she is full of ****. The first from August tells us that she got out of this share last year and today she claims to have £18K that she is prepared to sit on for 10 years. If you click on her name you will also notice that they have only ever spoke about this share and each comment is negative - way to go, that will get you a fantastic return on investment! AUG 15: "I'll leave you to turn the lights off.! I was gone long ago..! When it was in the 80's last year, with respect it's said to see, but if your waiting I hope your not near retirement age, if you are I'd book a plot, order the wooden overcoat and don't buy any box sets, this will be on its backside for quite some time yet." SEP 15 "Uneducated drivel.! Love it. You on the other hand don't read, absorb or understand my past posts. FYI- once again.! I don't work for SDY, never have, never will. I have 18K still invested in this company, I predicted low forties, possibly high thirties"
Uneducated drivel.! Love it. You on the other hand don't read, absorb or understand my past posts. FYI- once again.! I don't work for SDY, never have, never will. I have 18K still invested in this company, I predicted low forties, possibly high thirties. Your point of 50% return over 3 years I understand. BUT, Speedy employees will be selling come Jan, as they as will have been only buying £50 to £100 month due to their allocation. Once more I don't work for SDY or need to let go, I'll wait 10 years for a return, they just need to sort themselves out.!!! Red Army you are the one with your head deep in the sand.!!!