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Wtf and ffs
Strange open
PFC? now that would be super.
A few extracts - link below
Mr Gilmartin was bullish on this point, saying new contract wins will drive positive cash flow in 2024 and "significant" positive cash flow the following year.
https://www.heraldscotland.com/news/24046906.wood-hints-shareholder-returns-group-seeks-rebuild-trust/?ref=rss
Wood chief executive Ken Gilmartin has said the group continues to "update a refresh" its capital allocation policy with a view to rewarding shareholders as the Scottish energy services giant makes strides with its strategic overhaul plans.
Speaking after the Aberdeen-headquartered group said annual earnings would come in slightly ahead of expectations, Mr Gilmartin declared "the big ship Wood is on a significant turnaround". While unwilling to be drawn on exactly when cash might be headed shareholders' way, he emphasised that Wood is committed to maintaining growth momentum and "rebuilding trust with investors".
We’re excited about the momentum we are building," Mr Gilmartin said. "The big ship Wood is on a significant turnaround, we’ve delivered on the promises that we’ve made for the past four quarters and closed out the year really solid, and we’re in a really good position for continued growth.”
Wood was the subject of five takeover approaches from Apollo before the US private equity group abandoned its solicitations in May of last year. Its final offer had valued the business at £1.7bn, or 240p per share.
Shares in the FTSE 250 group, which employs about 36,000 people globally including 3,000 in Aberdeen, closed yesterday's trading nearly 3% higher at 156.9p.
Analyst Alex Smith of Investec said Wood delivered a "strong" set of results for 2023 and is winning significant contracts in its key growth markets. He is forecasting revenues of $6.4bn for the coming year with earnings up at nearly $453m.
Https://uk.investing.com/equities/john-wood-group
check the 1 day chart and put in 1 minute interval !
Prelude to a bid later - IMHO
Lol I was quickly trying to add ! Darn.
Were they picking up the stop losses?
Wg. down 50p and 30% according to Investing. com
About £4 should do it
Welcome
dividends will be good to see especially in an ISA
Nice one Mary
They're showing as sells on Advfn.
There was a small piece in the Times on Saturday that referred to possible dividends given the FY earnings meet/beat.
Couldn't find any other reference to it though.
This might move up tomorrow:
16-Jan-24 17:10:14 169.365 560,133 Unknown* 168.90 169.30 948.67k O
16-Jan-24 17:06:50 169.00 80,000 Unknown* 168.90 169.30 135.20k O
16-Jan-24 16:59:36 169.009 4,104 Unknown* 168.90 169.30 6,936 O
16-Jan-24 16:45:00 169.00 27,589 Unknown* 168.90 169.30 46.63k O
16-Jan-24 16:36:00 169.254 30,000 Buy* 168.90 169.30 50.78k O
Conference call about to start
Good update, I agree, although I want to see how the market reacts. Especially in relation to net debt being slightly above expectations.
In a bullish market, I would anticipate a strong rise in the SP. In the current climate, maybe an initial dip below 150p, finishing flat or slightly up at the close?
Always fun to speculate, and I will blame my faulty crystal ball for any inaccuracies :)
Morning Mary, plenty to like indeed - music to my ears :) If only we could get a similar RNS for PFC...
Beying any dips
https://www.lse.co.uk/rns/WG./
"We are now one year into our strategic growth journey and our results continue to show clear progress. We have delivered strong revenue and EBITDA growth, improved our underlying cash generation, grown our order book, and continue to see an acceleration in the proportion of sustainable solutions within our pipeline.
"We are confident that our actions, business model and strategy are delivering and look forward to giving a further update in March."
Continued improvement in underlying cash flows
o Operating cash flow of c.$210 million, a significant improvement on FY22 ($66 million outflow), with around $175 million operating cash flow generated in the second half
o Net debt excluding leases at 31 December 2023 was c.$680 million, including exceptional cash outflows in line with our guidance of c.$140 million and an FX impact of c.$15 million
o Net debt was slightly above our expectations due to FX and the timing of customer receipts in December, as flagged in our Q3 trading update
o On track to deliver positive free cash flow in 2024, as previously guided
Results incoming. Time fir the board to prove their worth with a stellar update after rejecting the bids.
GLA
LWHL
Spot on.
NO point in sitting pat waitng for a 100% recovery
BEARS make money
BULLS make money
HOGS get slaughtered
So true.
Think about this
SP falls from 226
Price drops to 130
Hits 175
Heading down / up - TU determines
Plenty of movement daily to get on the right side of this one.
One option JG (not investment advice of course!) is to have a LTH and a separate trading pot. Takes the edge off the frustrations that market volatility can induce and IMO can also quell the impatient tendencies :) Especially in a market like this one.
Need to be comfortable with position sizes of course and you then run the risk of increasing potential losses if you get it wrong, so not a dead cert. Works for me personally, and I think this is a similar strategy to Mary and many others.
Had a few nice little side pots in some of my longer term planned positions, like Mobico. I would otherwise have just kept sitting in a paper loss in that one, had I just bought and bottom-shelved it. Particularly frustrating with non-dividend stocks IMO.
Anyway, I have held WG before and it has remained on my radar. Not planning on buying back in prior to the next update now. Will take a view then, although of course I might not get the chance if they give holders good cheer. GLA.
I'm at 140 and thought about shedding a few at 173 and only didn't because of the forthcoming TU.
But it seems that the market is happy to whack good blue chips like JD by 24% because their profit will be 930 million ish instead of 1 billion.
10% fair enough but 23-24 is just a pee take.
The board here have to deliver given they turned down 230 from Apollo, shareholders will only be tolerant for so long.
It's got to a point where they are turning this into a traders market, no wonder no one wants to invest here anymore.
Last year s&p up 25% , Nas up 50%, Ftse what 3/4%, and midcaps well most are well down imo.
My add price here is 130p or below, having ridden his rollercoaster for a few years. Managed to get a minus 47p average on the WG. holding so want to protect that while accumulating at sensible levels.