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Hi Tichtich, thank you for sharing your thoughts and the calculations, found your take very useful,
May it be a good long term investment for all, I'm finding it rather amusing that the risk free rate is now 5% albeit it won't stay there for ever
Hi Actuary thanks for your reply that's useful thanks. I'm thinking i was confusing myself earlier on the re investment in relation to depreciation wear and tear. However i think i had my numbers wrong, looks like (surplus profit as % of NAV after dividends being paid) 1% in 2020 (too low) 4% in 2021 (fine) and 10% (very high) in 2022
if i have these second figures right the reinvestment should cover the depreciation. 2022 in fact was a fantastic profit result and investment figure -- although we know we cant expect that every year...
i'm thinking a good diversifier for the portfolio and yields higher than BP..
Hi, i bought into this as been watching it for a year or so, i do wonder if we are eating our own tale when it comes to NAV.... scant few details on depreciation in the accounts, if a wind farm has a life of 25 years crudely we could expect 4% depreciation on the asset anually... when looking at the accounts i could infer 1% from the investment managers report.. which would suggest underfunding organically paid reinvestment..... which could mean that the existing assets eventually get to the end of their life with underfunding organic replacements.... (additions aside) could this be the case? or do we think NAV will be maintained?
I also looked at the accounts of a private windfarm business -- community wind farm ltd, and jeez they are bags more profitable than this albeit a smaller firm...... im quite happy with my 6% div, but so long as we are not getting it at expence of a 2% NAV Burn which is under reported
First of all welcome to me, shareholder for all of 24hrs...
Interesting to see what happens to the gas price this winter, some say that Europe could end up with similar scrabbling to buy gas, as last year, which drove up the price.... Apparently not alot been done to alleviate the shortages......
Interesting to see what happens....
Ps I like the hefty ring fenced Corp tax loss tailwind brought to serica... That has real value... Interesting Co no doubt
This is off to the races, wouldn't be surprised if this continues to rise to around 10.00 but that's just a random number after looking at the share price graph. I bought in as looked cheap... Picking up £1s for 50p... As the old adage goes
Huge shift in ownership, 70%. Now, pubs that were sold, sold for significantly less than their carrying value which is a bit disappointing given they often site no revaluation since 2000 approx. Market liking the results however, one ray of light in my portfolio today
Hi, noted they have sold all of their interest rate swaps for a cool 180 Million approx. what are peoples views on this? guess it aids cash flow now but does not mean they are now exposed to higher interest immediately and for the foreseeable?
Morning, I ran a stock screen on the above looking for quality cheap and this came up, also indicated heavy buying by members... Took a little starter position, fab full year results and virtually debt free, that UK tax rate though, makes you wonder.... But still they must have been raking it in... Not sure of the next catalyst for this share, oil appears in a down trend but likely this Co could remain profitable... Hope they don't over pay for overseas assets. Needs to be eps friendly,
Thanks Pianista nice to hear the local Intel, although don't fully agree on the perceptions comment. Interestingly national tyres, {now halfords :)} gets way more positive feedback on the social media.... Maybe they need to rebrand all auto centres to national tyres...
When I was a youngster all my mates used to call the company halfrauds as they were always expensive....
I sound like I'm company bashing, but their reputation could be improved, they also need manage their online image better and get their engineers which I have concerns over...
Come on halfords get this together (after years of poor stock availability)
When you view halfords social media posts you see the majority of comments are negative, in my opinion more so than for the average company. Based on this for me, long term holder, mainly building a position, think I need watch my risk....