Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone 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.
Lovely H1 results - "Good momentum into H2 - results for FY20/21 expected to be materially ahead of current market expectations"....
Plus dividends being resumed with a 2.85p interim divi.
£63.3m of net cash now. Even after paying £55m of deferred VAT etc in H2 this will still have been an impressive turnaround.
"Digital & eFulfilment delivered strong growth".
And this sounds tasty:
"In the public sector, the Group has secured framework agreements with Crown Commercial Services (CCS) to ensure that we can bid for future Government work directly. In addition, we are in final stage discussions with HMRC over a major extension to our existing contract that would lead to us managing Inland Border Facilities at the end of the Brexit transition period."
The VAT/excise duty dispute with HMRC is unfortunate, but WIN are confident that they will have no liability.
Overall a great update which could initiate a very nice re-rating.
Don't like the sound of VAT/excise liability from my experience you never win against HMRC does anyone know when the court case is?
Nice - PFS disposal just now confirmed in today's second RNS:
Https://www.investegate.co.uk/wincanton-plc--win-/rns/agreement-for-sale-of-pullman-fleet-services/202011051000023136E/
- small gain on disposal
- underlying profit increase despite £30m turnover reduction post-disposal
- reduction in risk to Group
Nice £20,000 buy at 230.15p just now - well above the 229p offer price. Encouraging.
Good to see the full 232p offer price being paid.
Steve305, WIN have definitively stated that they've been advised there's no VAT liability. As a responsible and credible PLC they would have had to act prudently and provide against any liability if so deemed. They have not. Ergo this is not a problem at all imo. Indeed, a similar (and much more potentially costly) problem has been hanging over AUG for the last couple of years - which hasn't stopped the share price tripling.
Chart breakout?
Dormus