The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register 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.
So many things could push the sp around but it seems Soames is beginning to grip what needs to be done to rebuild the profitability and reputation of the company. Just very early days still.
Is Questo comments making it or Greece or other reasons ?
Sometimes Questor is right, sometimes he is very wrong.
Is Serco 12-year low a major buying signal?: Outsourcing group Serco saw its shares soar more than 8% higher yesterday after touching a 12-year low at the end of last week, so is now the time to buy? When Mr Soames took control, he issued a “bring out your dead” call for management to review all the troubled contracts, which led to an annual pretax loss of £1.35 billion. Serco acquired Indian-outsourced accountant and call centre business Intelenet in 2011 in an attempt to diversify away from its core U.K. defence market and into the emerging markets private sector. The company paid a premium, splashing out up to $630 million (£385 million) to buy the business from private equity Owner Blackstone. Serco’s shares have tumbled from a peak of 558p in July 2013 to just 117p on Friday last week, in the process dumping the company out of the FTSE 100 index. The shares also pay no dividend and debts will continue to rise even though the rescue rights issue went some way to plugging the gaps. The cash raised from selling the Intelenet business would have been useful so any cut-price deal would be a blow. We said Serco was a “classic falling knife share” at 362p in July last year, and reiterated our advice to avoid the shares at 183.7p on March 12. We need to see some more stable profit figures before changing our view. Serco at 133.3p +9.8p. Questor Says “Avoid”.
The Ministry of Defence has asked some of Britain’s biggest companies to bid to run the military’s fire and rescue services, in a move that would hand billions of pounds of work to the private sector in a search for savings. SERCO are one of the companies bidding. They already have firefighters working for the military and own a firefighter training school which the Secretary of State for defence visited in March, Rupert Soames was there to show the defence minister around the international fire training centre. Hopefully SERCO can bag this contract.
Hi Christ141, 140p and 150p are the critical level to break through.
Hoping recovery towards 150+ after it was pulled down last fortnight. Next update 2 July. It is well known that past results would be less than cheerful but the board would emphasise the progress going forward. Their FD recently had a dinner meeting with the analysts. So there won't be any shocks. Good volume today; looks like sustained buying by those in the know.
i say so ,wow it is up more than 7%
Jumped in today. Some building blocks being put in place but it is likely to be an erratic path to renewal and enhanced earnings but I can wait.
This stock is extremely oversold...watch this space
I didn't expect this SP to go intraday down as 1.23 but this may have something to do with the Greeks. However, I believe this share is close to the bottom and even if the worst case scenario is to happen with Greece then I don't see this share going down much further, but other overpriced shares will be punishingly corrected. Cheer up all, it's close to the bottom and the only way is up. GLA
In spite of newly appointed CEO with a great. Cv and rather famous grandfather, the stock continues to be a short. He should had stayed at AGK
Hi Simmo2345, the signal sometimes is not 100% correct, please not be fooled by totally relying on it. Regards.
some stirrings...to get into 140-150 bracket first.
Thanks. Good to know that you have had a history of trading these and thus know this company better than I do... I think it would need some catalyst to turn its way up. As they say bad reputation is worse than actually being bad! So unfortunately, bad smell still lingers even though new clean pair of hands are at top...Only a matter of time. AIMHO.
I used to trade this share in the £5 /£6 range and left well alone after it started its demise but i have always kept an eye it. and have to agree with you chris that maybe just maybe they have hit the level to start and rebuild . and with the points you mention in your post it might just be about to start climbing again, So i am in to for a bit of a punt .patience might be required but there could be some good gains for he who waits .
Heavy weights chairman, CEO and FD; recapitalised balance sheet, favourite sector of outsourcing and Tory govt, recent buys by directors, business on the mend and sustained recovery, possible sales of non-cores, bullish market --- what more is needed for share price to make an about-turn??!!
Serco appoints City veteran as chairman Choice of Sir Roy Gardner is part of outsourcing group’s efforts to rebuild business
High time, SRP starts "performing".
Now what? Why collapse on an up market day? Languishing at 133 after ceo's buy at 138.5. Where are all the brokers who took hefty fees in the recent rights issue.. Where are their research notes and recos?? For such a major company geared to the growth in outsourcing, newsflow is pathetic.
From the Chartered Management Institute, "The CMI is working with Serco and other leading employers to develop a new Chartered Management Apprenticeship Degree."
Just bought in...outsourcing will be pretty huge with this government committed to reducing drastically public sector functions
Just topped up. GLA.
one could still buy below the price of ceo's buy at 138.24. Rupert Soames has been in the saddle for a year now. His credentials, opportunties for outsourcers, cost-cutting and a well-capitalised balance sheet should mean a steady recovery of this company's fortunes. DYOR.
yesterday late afternoon RNS. Serco Group plc (the "Company") was notified on 11 May 2015 that Rupert Soames, Group Chief Executive Officer, purchased 123,000 Ordinary Shares of 2p each in the Company on 11 May 2015 at a price of 138.239 pence per share. As a result of this transaction, Rupert's interest in the share capital of the Company, including that of his connected persons, is 607,000 shares.