Member Info for fatprofits

Obvs this is guesswork only, however my guess is yes,

a 30% cut or there abouts. This gives more leeway for increases down the line.

Given BT net debt continues to increase and as importantly the cost of servicing that debt is increasing -

a dividend cut makes sense.

I've got a BT landline, from memory I was informed it was needed with my broadband deal?- I've not used a landline in years calls, I don't even know what my landline number is - so looking forward to getting some money back from BT.

As I have mentioned on here several times over the years ..

any view BT is heading for years of strong profit growth (once the pension deficit recovery payments and major CAPEX programme complete) is likely to be misplaced.

Politically and regulatory considerations mean big headwinds continue long in to the future.

That includes 2 mobiles, BT TV, broadband...etc.

Come my renewal in March (if I stay with BT) that

monthly outlay will be slashed. I'm currently paying for

a lot I don't use, or don't have time to

How many others will look to cut packages given cost of living considerations...

Strip out Guiness snd DGE is a spirits business.

Many of DGE's products are consumed in the home.

How busy UK pubs may be tells you very little as a read on Diageo.

DGE central strategy over the last decade plus has been premiumisation - if that consumer trend is reversing DGE may have a big headache ahead.

Good call by bears here

It's not just a case of whether you.. believe in . their long term business plan - because they are reliant on Rolex to

provide the stock and more importantly a favourable product mix.

It's the product mix pount which may be a vital one.

Nm

Some promised land awaiting once huge CAPEX and pension recovery payments are mostly out of the way is far from guaranteed.

The regulator is unlikely to allow BT to become some consumer cash machine. Reading other posts some see

this differently.

Apologies for the typos, there not their etc.

There is current consusus estimates out to 2026 - all be

it subject to revision. On these their is no pre tax profit

griwth forecast by 2026 snd net debt is estimated to be £2 billion higher.

They are a very rough guildline, at best, but no growth for now is weighing heavily.

Many PI's appear to look at PE, which as a valuation measure for BT is far too rudimentary.

Factor in the £19 bn of net net debt and valuation looks radically different, their net debt dwarfs the BT market cap.

Would expect a cut under the new CEO to help slow the increase in net debt.

Yes a tad ridiculous as it's only recently been reinstated,

however that looks a likely outcome to me - other may view it differently.

On current consensus is forecast to be another approx £2 billion higher by 2026 (this does Not include the pension deficit number).

You would hope the pension scheme is in surplus by 2026

given the gigant deficit recovery payments.

Https://www.theguardian.com/business/2023/dec/07/uk-ee-vodafone-three-o2-face-3bn-class-action-lawsuit-over-loyalty-penalties

FT also running the same story

There should have been a nice gain from the sale of their

previous HQ.

To support the multiple it needs earnings growth and

at least for now that appears to be absent.

It's not in a ..bit of a death spiral, that melodramatic in the extreme.

SKG is a stock that gets hit hard on risk off sentiment and

we are most definitely in risk off markets. It's a cyclical

and much of Europe (it's largest market) is at one in recession.

And will add nearer £3, if available.

Although I prefer Ryanair (and can still hold as I'm a dual national)

the valuation gap between the two is now too wide.