RE: Worth a punt19 Feb 2021 11:02
No-ones upset JimmyBoy, (especially not me, anyway), BUT just for future sake... have a look through posts on many a board and you'll find generally investors that have outlaid the fundamentals, and then just you can back up those fundys by doing some quick company research through google or the likes of.
Personally and IMHO I see this company very undervalued currently and the SFO saga hasn't helped.. have a look at the RNS from somewhere in FEB 2019 and compare it to the Jan of this years RNS... materially there's no difference except for the fact the sp was around the 400p mark IIRC before it fell to 300p mark!
Naturally taking on-board the Covid effect past 1 year has affected nearly every single share, (aside from pharma sector), IMO this will return to at least 3/4 of pre-pandemic highs. YES, it'll be a long hold, but nearside/short-term I see a 150-200 sp.
The company continues to secure contracts worldwide and this should be relayed in the April results...And as for the SFO saga, I believe the company itself will not have to pay a penalty and that the SFO itself will punish those who have admitted the guilt, (Lufkin and Co).
FROM FEB 7th 2019 RNS:
René Médori, Chairman of Petrofac, said:
"The SFO has chosen to bring charges against a former employee of a subsidiary company. It has deliberately not chosen to charge any Group company or any other officer or employee. In the absence of any charge or credible evidence, Petrofac intends as a matter of policy to stand by its employees."
...I think reading between the lines, we're in the clear.. but a nice crossed T's and dotted I's from the SFO via a PFC RNS is always welcome, and if that happens.. then yes Boom...AIMPO
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