Member Info for Bhants

Hissing Sid, wasn’t it?

😂

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It seemed more about the potential sell-of by HMG of their stake in NatWest. But you could be right, Bot.

B

Sorry, not related to CCL, but what is all this talk about “tell Sid”? HMG is selling existing shares not offering new ones. It is not the same as selling off BT or British Gas or, or, or…….What have I missed?

I do appreciate that they might want to encourage private, retail investment but surely they could think of a better way of publicising? It’s only old fogeys like me and K who are likely to remember “Sid”.

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Well, knock me down with a feather…… I was fully expecting a red day all over. Any bets on what Israel will do next?

I hope they put their big boys’ pants on and “take the win” as POTUS so delicately put it but I am slightly fearful that they won’t.

Enjoy the day everyone.

B

Part II

We know well enough what rules in the marketplace, sentiment. Plus, perhaps, a bit of whether or not the “MM’s” porridge was cold.

This share will not go south of £10 - at least not until tomororrw………

Welcome RobertM to the CCL “we haven’t got a clue what’s going on or why” board.

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The “market” doesn’t agree or disagree with the fundamentals of this or any other business for two reasons:

1. It doesn’t actually know what they are, and

2. It doesn’t give a damn because it’s only interested in itself.

Nearly 90% of CCL debt is now on fixed rates of around 7% so inflation and base rates have a nil effect.

Still, never let facts get in the way of “market making”.

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Ta, Bot! 26 doesn’t have quite the same possibilities!

When the pit bosses see you turn up, what happens? Are table croupiers alerted or do they know you as well?

Good day for the SP today, BTW.

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I have to ask, Bot, why 32?

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Hi Aangus, thanks. Warmer, yes but already raining!

HL will provide a pdf so that you don’t have to send a screenshot.

Morning all,

Just about to head off for sunny, rainy, windy Wales.

It’s Generally Accepted Accounting Principles, BTW and there are different types depending on where you are. carnival will be subject to US GAAP, unsurprisingly. They cover both accounting and auditing.

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Well, a c*** end to a s***** week. I’m off to Wales for a week tomorrow. At least I’ll be able to have a good moan about the weather.

Have a good weekend everyone!

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I know, Bot, I know…… You’re not trying to improve my mood?

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Long term there won’t be any issues but the question remains, what makes this share worth nearly £2 less than it was a couple of weeks ago?

It stinks of manipulation ……… again.

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I think, Bot, that you are probably right, too. Carnival have always said they don’t see any value in hedging vs not. Arguments both ways, as with fixed interest. Now, that is one area they have been good at - limiting the cost of their borrowing through fixing rates and refinancing.

I agree that they should be in a position to lay down more debt than expected over the next 12 to 24 months.

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They address this in every webcast with quarterly results.

Basically, they say that hedging costs too much, fuel represents less than 10% of operating costs and they are having to buy fuel in all parts of the world. So, they focus on what is within their control, i.e. consumption. Plus they are trying to switch to “greener” fuels such as LNG (personally, i think is some doubt about whether it is greener) and hyping up their strategies on cost reductions.

But, and it is a very big but, their overheads are enormous. Nine sets of management worldwide plus an huge central office in Miami with very fancy salaries and packages, e.g. a recent past chair of the board retained on a five-year consultancy contract at $1m per annum 🤬.

That is my take on it. Probably wrong, even though I haven’t asked my other half.

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Thank you, Maths. My only question must be, then, why do Carnival not issue similar RNS’s in relation to the Corp shares? Is it simply because it’s rules in the UK about 30% shareholdings?

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PS when anyone gets a share allocation, e.g. as a bonus, they will be the non-voting kind. I have no idea how one actually buys any of the shares with voting rights.

Maybe someone could tell us?

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Never sell, these are the shares with voting rights. The other billion are a result of, mainly, COVID when Carnival had to borrow huge amounts of money. I think it should be said that this was raised largely from institutional placings and the other borrowings were secured against assets. The debt repayments will not affect share holdings directly, but I would hope that from, say 2026, Carnival might begin some share buying back. Who knows?

This confused me for a while because that number of shares multiplied by the current price does not give the Cap Value!

That’s my story an’ I am stickin’ to it!

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And, yet again, CCL struggles to hold on to gains.

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Thank you, Bot. Rich is a relative term - I don’t hold anything like the volume or number of shares that many on here have.

It does give one a bit of a rosy glow - only tarnished by poorer performance elsewhere, of course!

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