Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I've re-read the latest half-year report and there's a wedge of preference shares to take into account. That reduces my sp prediction to 100p. Looking forward to the market opening tomorrow.
Quite possibly a boardroom bust-up over the strategy.
For 2020 Beazley reported net claims of $1,958m so a share of the Colonial loss is pretty small beer. Good news is that it will increase the demand for cyber cover, persuade the insurance market to increase premiums and encourage more companies to improve their defences against cyber attacks. Beazley reported appreciable increases in renewals in the first quarter 2021. All-in-all high profile cases such as Colonial seem to be good for Beazley.
Just gone through the half year results in detail. When allied with anaylst comments and the wider market conditions I wonder if a buyer is being sought for the relatively small engineering business, so that the proceeds can be invested to build and strengthen positions in the agricultual businesses.
Time will tell.
Positive report with, for me, the key comment:
"Considerable opportunity exists to optimise the current portfolio through a process of standardisation, simplification and seeking synergies between similar businesses. Growth can be achieved through a mixture of geographic expansion, selling all our service lines to our customer base, and acquisition and potential industry consolidation."
My post from 7/12/20:
"Greatly pleased that the Board continue to reject 'low ball' offers. Much prefer that the shareholders enjoy the run up to £2.5/3.0 over the next couple of years, rather than anyone else."
All comes to those who wait.
Positive news with a welcome significant contribution to debt reduction.
RNS dated 29 January: "We anticipate releasing our results for the year ended 31st December 2020 in late March/early April 2021, although this may be subject to change given the disruption caused by local lockdowns."
Wouldn'tassume that the North Sea does not figure in the next big move, based on latest results announcement:
"Estimated exploration and appraisal capital expenditure (excluding Egypt and Catcher and Kraken) of US$90m, including exploration wells planned in Mexico and the UK North Sea"