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MrNation now time to pull the other one, have you read the update?
-We continue to expect to remain compliant with debt covenants at H1
-Improvement in cash generation, including around £120m benefit from Government VAT deferral scheme, has provided support to liquidity facilities of £602m
-Cost savings of at least £45m already delivered in the first half to mitigate financial impact; significant further cost savings to be delivered in H2
https://www.capita.com/news/h1-2020-market-update
Very happy with that update! To be only 10% down on this time last year with bigger cost savings and very good cash liquidity. This time last year the share price was over 108 and steadily climbed to well over 150. Take into account we're only 10% down on H1 this year compared to last year's results with the added benefit of the Eclipse sale and ESS sale in the pipeline. Massively undervalued!
This was priced to fail and people were worried funds needed to be raised, that is now out of the question we should see more confidence here
As Credit Suisse stated, material re-rating coming here on ESS sale. May not be this week for ESS but it's coming and the city boys won't want to miss that.
I was in a few days before the Eclipse sale and ESS news and here for a good update, the eclipse sale and ESS news is just a massive bonus which has increased my targets
I don't think we will get update till after AGM. Maybe towards close of play tomorrow or Friday morning but like you say who knows! This was a revovery play before news of eclipse or ESS sale so even without that I'd have expected a rise on all the projects, deals and partnerships Capita have been part of during this period. Add the £58million cash disposal of Eclipse to the mix and any update on ESS sale and this could get silly quickly. Currently priced to fail so I see far more upside than downside here...time will tell
4% down and its my second best performer today, markets hit hard today but held up reasonably well. Can see people taking any opportunity to get in pre news. AGM tomorrow and pretty confident it will be a positive update
Thanks Jenks and Electric, appreciate the replies. Certainly very complex situation in the US
Hit 15% up on Monday on a red market day with news of ESS sale intentions so beatbthe market then. Even if update comes on a red day it will beat it again, come on a blue day and we're laughing. Hit 50s several times on no news. This was a recovery play pre ESS news so for me expecting much more than 50.
Investor I hope you don't get stuck out on the sidelines, I think people will be taking positions pre AGM
That list didn't include many other contracts and partnerships confirmed over these last few months which can all be found on Capita's website. Lots to be updated on at the AGM tomorrow
https://www.capita.com/news
Can anyone tell me if the date given for US reopening has been confirmed by US government as the UK date was yesterday? Tried to Google it but iveb read that cinemas could reopen in April to no date given so I'm none the wiser. Thanks
Some highlights of recent contract wins and extensions confirmed during this period,
Ministry of justice 3 year extension worth £114million
Pension scheme contract £60million
Irish water contract £50million
Eclipse sale £56million
If you don't want to listen to it all just skip to half way point for views on Capita https://ukinvestormagazine.co.uk/podcasts/
Yes very true and I'm usually the same unless I'm confident of a significant rise coming. I rarely comment on the shares I'm in unless they're ones I'm happy to hold. The others I just trade, I've split my funds between trading and holding but currently put more in here thanks to the dip today
Well done on trading it Bare, I didn't have the bottle on this share and missed some awesome chances to trade but knowing my luck I'll get stuck out before the update comes and end up watching it gap up. Trading some others but left this alone and now feel its too close to to AGM to risk being out, hence your change in position too
And another new poster, people certainly want these to drop. Doesn't surprise me, massive potential and re-rate coming on sale of ESS. Any update from AGM will see this rise. To be honest pre ESS sale potential this was a very attractive recovery play, and that was my opinion pre eclipse sale too. Capita have been busy with new contracts, partnerships and over 100 government coronavirus projects. Once again we're the governments sweetheart