Member Info for Aucuba

Suspect profit taking at this level will drive this down a bit from here but could be wrong

Didnt help!

https://www.woodplc.com/news/latest-press-releases/2022/wood-expands-chemicals-footprint-with-new-esseco-uk-contract

US opening pulled all the gains and then some. This was how it was with this one a while back but i thought we had turned the corner on that trend - maybe not!!
Shorters in the US working it????

ColonelDrake
Dont you think Blackrock got a significant part of what they wanted out of all this - CEO on the way out !!!

I expect the market will look beyond the numbers - they are pretty much as expected. Key points are the sale progression and teh CEO movig on. Both of these points are positives and mark the end of a transition for the company. CEO's track record with investors is not good even allowing for Covid impact - difficult times for him in the role granted but he share price decline during his reign has been pretty dramatic and the acquisition of AFW played a major part in this - toxic contracts and took a long time to sort out the wheat from the chaff.
It will be very interesting to see who takes on the role - internal appointment or external soureing

https://www.woodplc.com/news/latest-press-releases/2022/wood-awarded-contract-for-senegals-first-offshore-oil-development

Sale update before easter is pretty unlikey i would say and with yesterdays rise i expect some strong selling today

Jeffries 150p target is based on no new write downs AND the sale going through - Really!!!

Jeffries raises to hold with a target of 150p - ???????

Wood, the global consulting and engineering company, has secured a three-year contract with Norwegian state-owned operator Gassco to support the safe and secure transportation of gas from the Norwegian Continental Shelf to terminals across the UK and Europe.

Pokerchips

Agree it wasnt a big part of the business and had baggage (like most of AFW business) but it certainly has a big potential market if the governments new strategy goes full on.

Pokerchips
I dont think shorters will bite at this until its down below the 150 and even then they may think they can still get more mileage based on teh last few weeks continual slide. BOD must surely be getting twitchy with CEO over this.
They threw away the nuclear business not so long ago and guess what? - nuclear is back on teh goverment agenda big time!!

The US open always drags this down from any gains it makes. It was doing OK ish until 2:30 our time then the bottom fell out of it (again)

Looking like a new 52 week low. You got to assume there is no good news here. They obviously feel saying nothing is better than what they have to say!!!

Both the CEO and the CFO need to go. One time great company dragged down into the gutter by these two and their quest for growth in buying AFW with its portfolio of toxic contracts. Due dilligence on the Amec purchase seems to have been non existent.

ColonelDrake

I agree with the comment re the delay. I suspect the Aegis project audit has unearthed something which they didn’t see when they announced the hold on accounts. Delaying the accounts by a couple of weeks to wrap them in with a positive update on the asset sale is of course sensible.
Where I differ from you is in the “spike” to 300/350p. I don’t think thats doable as the share has dropped of a cliff lately and its a steep cliff. A 50% climb to 320p from todays just doesn’t seem possible even with a 2bln sale price and i don't think we are at the bottom yet so the rise will need to be even more pronounced than that. Has a share ever done that lately???

Pokerchips

They would need to give a lot back to the long term shareholders to make up for their losses - the share price is close to one year lows and I think paying down debt and perhaps one or two small aquaisition s to support their energy transition will take preference over any substantial return to shareholders in the short term - it will probab;y come down to the return of modest dividends (when compared with what they used to be back in teh glory days!!)

Reduction in shorting has not moved this in teh way I would have expected. This always seems to get out the gate quite well but gets beaten up as the day wears on.
MaryBr190 - the link to oil price witrh this one is no longer as hard and fast as it was. The last long run up in oil price did nothing for it - it is going down regardless of oil price movement.

This is going to hit a 52 week low long before any sale is announced and the bounce after any announcement is not going to be to 270 unless they get paid way above their taget sale price and with things changing so much since the initial announcement of a sale then I really do not think they are going to get top end price.
Im also wary that of the delay in result - its still TBC - unless they are hoping to annopunce sale at same time. An external audit on one contract should not be taking this long.