RE: Director Purchase13 Dec 2021 19:33
What has been surprising was, all along, we were told disposals would be used to address the debt. In the first H1, they reduced debt from around 1.1 billion to around 850 m...so after 620 millions odd pounds of disposals, the debt has not even improved during a period where all other stocks hit pre covid level...this means the company may have to do more disposals than 700 million to even nudge the debt levels a little...having said that. We're hitting an uncertain period where private sector could see further hit and its current revenue drop by 8% could rise when ormicron is going to be disrupted more than all the other variants. The travel and events division is literally not generating... further cost by wage inflation as company is now offering real time living wage plus interest rate rises...the company is seeing slow growth..and addressing debt may take longer than what we expected....disposals will just shrink the business more ...I think patience is needed here...