Member Info for Garydav2

This is extract from the statement possibly points towards the issues:

In the short term, the Group is reliant on a small number of relatively high value collections in respect of the conclusion of historical contracts, settlements and new awards. The expected timing and realisation of these collections reflect management’s assessment of the most likely outcome. However, the resolution of these matters is not wholly within Petrofac’s control and, consequently, there remains a level of uncertainty which is disclosed within note 2.4 to the interim condensed consolidated financial statement.

Have a good day and it's nice you can do those things. When you are out today spare a thought for LTHS. I read on one board someone had lost £41k investing into this pile. Unfortunately for many holders it's already over ...

And most are increasing!!

Yes I concur. It's on there just read it

I wasn't comparing the companies i e. Cineworld . Merely the share price chart that looks remarkably similar. I did however highlight Carillion in an earlier post to show that no company is too big to fail. It is without doubt PFC have declared debts and are trying to recover receivables from legacy contracts. The high interest rate environment clearing isn't helping them. But like everyone says no RNS so we probably won't know until it's too late

I've been studying Shareprices of another companies that eventually went into Administration. Cineworld chart is quite similar to PFC and the shares sunk once into the teens to around 5p. A slight bounce and then ..... So good look and enjoy the sunshine :)

Those reports look very serious. Think the shares will sink on Monday morning . Keep saying it but all the big contracts and turnover are not important. It's cash, cash, cash . GLA

Hmm similar situation ??

What is the Carillion fiasco?

Carillion, a private construction firm and provider of a multitude of outsourcing services to the UK public sector, went into liquidation on Monday.

But what does Carillion actually do?

How much state money has it been receiving? How did it come to this? And what will happen next?

What are its biggest projects and contracts?

Wolverhampton-based Carillion is the second-largest supplier of construction services to Network Rail, the publicly-owned company responsible for the UK’s rail infrastructure.

Where our story starts.

The private firm is commissioned to do work on signalling, laying new track and other more complex infrastructure projects.

Carillion last year won a contract to build tunnels in the Chilterns for the High Speed Two rail project, to connect Birmingham with London on a dedicated new line.

Carillion shows what is really happening to our public services

Ministers under pressure over taxpayer bill after Carillion collapse

Government and unions react as Carillion goes bust

Carillion’s liquidation statement in full

Carillion enters compulsory liquidation

Carillion is also a major provider of services to UK schools, with tasks ranging from repairing buildings to providing school diners in 218 institutions through its catering arm.

​The NHS is also heavily reliant on Carillion. It is one of the largest providers of facilities management services to the health service, with its responsibilities stretching from fixing faults in hospital buildings, to cleaning to providing meals for patients. It is also building the new 646-bed Royal Liverpool Hospital.

Carillion does a similar job in the UK’s prisons, maintaining around half of the estate.

It employs around 20,000 people in the UK, plus a further 23,000 around the world. All of these jobs are now at risk

This was equivalent to around a third of its total revenue of £5.2bn.

How did this collapse happen?

In July 2017, Carillion unveiled an £845m writedown on the value of its contracts, prompting the resignation of the chief executive, Richard Howson.

The company effectively conceded these contracts (of which £375m were for UK construction work) had been much less profitable than it had originally anticipated.

Its share price collapsed around 90 per cent in the following months, slashing its market value from around £850m to just £70m by the end of the year.

Carillion’s financial difficulties were compounded by the company’s relatively high level of borrowing (it now has £900m in debt) and a £600m deficit in its pension scheme.

Down to £89M after Friday. What will it be end of next week £50M ? Says alot around the market concerns considering they have billions of pounds of contracts .

What is your involvement here Emerald . You have been very quiet as being a super ramper mid week. Are you still holding?

Bob Hope - think you should change your name to No Hope!

I work in Construction and a great name from the past John Laing was bought for a £1 by O'Rourkes a d became Laing O'Rourke. If the business is so indebted and has cash flow issues who's going to buy it for a premium? The contracts and sub-contracts can be novated across to new companies especially if on frameworks

Called it spot on:

Our system’s recommendation today is to STAY SHORT. The previous SHORT signal was issued on 10/11/2023, 21 days ago, when the stock price was 44.82. Since then PFC.L has fallen by -62.05%.

The bears have recovered and our bearish bet continues. The current price is quite distant from the confirmation level, so the probability of a bullish confirmation is very low. Besides, the signal is suggesting to STAY SHORT. It is best to follow the signal and continue to STAY SHORT. The Delayed Intraday Module is OFF.

This pattern consists of a black body followed by an Inverted Hammer that is characterized by a long upper shadow and a small body. It is similar in shape to the Bearish Shooting Star but unlike the Shooting Star, the Inverted Hammer appears in a dow

Facts are this is going the way of all the others that finally went bust. For the shorts and volumes traded to be this extreme those in the know surely are very confident. It's a shame that we haven't even seen a small bounce. The chart is like a vertical fairground slide not even a rollercoaster. I think unfortunately this time the negatives on here have been right from the start. GLA

Eurofil that's all well and good but it 'only' doubled back then from 40's to 80's. If this doubles from here then what 34p . You've been making bullish comments and knocking the doubters from the 50p range looking at your posts. D4E, suspension or bust seems the likely outcomes now. It's over from here

Coming from the expert. I can assure you I'm not young actually 54 years old. And looks like you have a past history doing this sort of thing. Noticed your bullish posts on Amigo and we all know how that ended. Well each to their own. You still with your strategy and I'll do it my way. Good luck

Talies why are you still ramping? You replied to me as follows :

RE: Today30 Nov 2023 06:32

You must be very nervous about your short position today Garydav2.... I know I would be if I was in your shoes!

The share price was 22p and has fallen a further 25%. You are still holding and ramping

Think is Harry what's the point?; you may was well sell and buy back at whatever they settle at 5 to 10p who knows? A 10% rise now is only 1.7p. Got into silly territory now. Why just let your investment evaporate?

This is going bust mate. I mean I thought we only had 4 days in the 20's range. I traded a bit this week and made 5% and then lost 12% yesterday. Already at 17p. At this rate will be 10p by end of next week if not before. DEBT and CASHFLOW appear the issues we can speculate on

Why hold and not have stop loss in place? It's cheap to get in and out here so cant understand these LTH's being locked in at much higher levels . Sitting mon a 60% loss, why?