Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
“Capita is hoping that the sale of its education software division will help raise some cash. Analysts think the division alone could fetch up to £700million, already doubling the company’s market value.
Capita confirmed it had received ‘strong expressions of interest’ in the unit earlier this month, but CVC will likely want to take over the whole business and sell off the education division itself to ensure it gets the best price.”
Capita will look to sell its education software solutions (ESS) unit for at least £500 million as the listed business services provider’s board this week prepares to approve an auction (as exclusively revealed by EducationInvestor Global this week and reported on Capita’s website)
http://www.finnemoreconsulting.com/capita-sims-for-sale-capita-looks-to-sell-its-education-software-solutions-ess-unit-as-the-board-prepares-to-approve-an-auction/
H1 2020 Transcript:
Jon Lewis:
Sylvia, thanks very much for your questions. I'll let Patrick talk to you -- margins and contingent
liabilities in a minute. But I want to be crystal clear in the going concern. The disposal of ESS
addresses the Covenant head room issue; the material uncertainty issue.
https://www.capita.com/sites/g/files/nginej146/files/2020-08/capita-half-year-2020-transcript.pdf
CEO confident about the sale. Price will move sharply upwards from here on news.
FTSE down but dropping the bid so low only to pull it back lmfao
ESS sale is mentioned in the half year report transcript CEO talks like it’s a given.
Price doing well today considering FTSE down over 1% and support holding. Something definitely going on the over reaction the other day was a major flush out and no doubt the insto’s loaded up for the ESS news. I believe the ESS news is sooner than people think.
Capita will look to sell its education software solutions (ESS) unit for at least £500 million as the listed business services provider’s board this week prepares to approve an auction
http://www.finnemoreconsulting.com/capita-sims-for-sale-capita-looks-to-sell-its-education-software-solutions-ess-unit-as-the-board-prepares-to-approve-an-auction/
Basically the £42M holiday charge may be reversed in H2 if staff take / use up holidays
Easy I'm bullish CPI the point is the article states that the holiday charge is theoretical and without it CPI would have been in profit. Hopefully like other businesses staff will be taking holidays in H2 so that £42M charge may be a non event.
Lockdown also prompted fewer of its 60,000 staff to go on holiday, adding to the company's woes as it had to book a £42.6million charge.
Although the charge is mainly theoretical, as Capita would only have to pay the money if swathes of its staff resigned without taking their annual leave, it still pushed down profits.
Key upcoming opportunities in H2
Navy Training £1bn Transforming Navy training through increasing use of digital technology
Insurance £370m Outcomes-based customer contract using analytics and CX tools
TfL ULEX £355m Extension + technology transformation
Mortgage services £50m Proprietary digital mortgage origination platform
H1 Results no difference to forward guidance trading update given in the market update on the 25th June.
Very surprised by the drop this morning although FTSE was down over 1%
FCA currently working with all providers of guarantor loans. #NSF branch based lending loan book is double that of its guarantor loans business. If guarantor loans impacted they are not the core business. Current market cap is too low based on branch lending alone.
https://twitter.com/colebrooke1/status/1290672886827622406?s=21
delivering production in line with forecast
Most important update
•
At 28 July, 60 per cent of 2020 sales revenue hedged with a floor of $57/bbl, 44 per cent of 2021 sales revenue hedged with a floor of $51/bbl.
Trading update within expectations. Impairments are a tax offset so long term saving.
Telegram URL address blocked by LSE please search on TWATTER
**********************MDURSBmFvcQekwhg9GkTlQ
Positive contributors welcome. Derampers, Wind Up Merchants, I told you so’s etc hindsight traders will be blocked.
GLA
Asset sales coming meanwhile production 75,000 bopd with some of the best price hedging in the market: 60% of 2020 sales revenue hedged with a floor of c.$57/bbl and 40% of 2021 sales revenue hedged with a floor of c.$53/bbl.
Shorts continue to close on a near daily basis both AQR and Sandbar were reducing yesterday.
https://www.shortdata.co.uk/company.php?isin=GB00B23K0M20
Down on low volume (lowest volume day since May 12th). Bounced off support again today.
Many other shares consolidating and retracing from recent highs testing the 34 MA.