Member Info for Culley01

Good response & as Trisor says does give leeway for a divi provided criteria is met which may well be the case. Wait & see what happens in August

AH being much more shareholder focused than JL ( who seemed to think shareholders were a bit of a nuisance) may well have a special dividend in mind to be announced with the August figures. Keep fingers crossed

I think come 2025 there is scope for both dividends & debt reduction/elimination.

Possibly a token special dividend this year of 0.5p would show that things really are improving & would give the SP even more oomph & at £9m it’s not going to break the bank.

PJT I know nothing about the charts you use & prefer to look at a company’s fundamentals but galloping docile hedgehogs do seem a bit far fetched

It didn’t take long for that wish to become true, let’s hope it stays there ( or higher!)

40m traded so far & I suspect that there will be some big after hours transactions

My core was 600,000 shares & I bought another 150,000 for short term trading around13.5p. I’ve decided to hang on to them all for the time being.

That clears debt (apart from lease liabilities), gives funds for growth/investment & once FCF is achieved clears the way for dividends in early 2025.

It also shows how ridiculous valuations are. Value yesterday circa £250m, value of business sold £200m giving value of the rest of the business £50m

Good on AH, more surprises to come?

@Kipper I take your point that we are looking at the conservative estimate.

I don’t think AH is going to simply tidy up the existing structure of CPI. Once he has done this (& he’s done more in 6 months than JL in several years) he’ll be driving the company forward with growth & continued innovations.

We can see where the company is headed for the next year but I believe even better prospects are in line for 2026

Does anyone know how many shares Rockwood have bought?

Thanks unhooked & Taltbong. Good to see a very successful II buying & giving their reasoning (which is very much in line with several PIs on this thread)

I still think we may have to wait until half year 2025 but possibly some very positive forward guidance in the December update could give a serious boost

If we assume a £150m profit in 2025 & compare to Serco’s 10X PE that gives us a £1.5b company which is 7X current value & equates to 90p/share.

Should be more to come as benefits of cost cutting become fully apparent

Worth waiting for

I suspect margins will be much improved on this renewal

@Trenners unless something unexpected comes up I can’t see any major improvement in the SP until August 2025. We know both half & full year 2024 will be showing substantial losses & I suspect they AH will pile as many costs as possible into 2024 so he can enter 2025 as favourably as possible with hopefully August 2025 showing a return to profit & FCF.

Kipper I’m hoping that in a years time we’ll look back at the bargains we had wether it was 13/14/15p or more & think how lucky we were as we sit on a SP of 40p+

Kula the big difference is that Serco has 5 years of profits & rising & 4 years of dividends & rising.

It’s 5 years ahead of us in the turnaround story but points the way to wear we could be in 1-3 years

I’ve had Savage green flagged for some time. Unfortunately I can’t green flag all the reply’s to his pointless postings.

I’d suggest that he really doesn’t warrant reply’s

I think we’re still in for a long wait here.

August figures will give a little more info re progress, Y/E is predicted to be £70-£90m loss (although I think AH might improve on that a bit) & it’s not until half year 2025 we will see real progress & that’s when it should shoot up.

Of course AH could surprise us earlier

Martin Go to the investor centre on the Capita website click on presentation & you then have the option to view

I meant unfunded not unfounded but probably both are fine!