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Apologies for my earlier error. Reading in a hurry. You are right. No increase from Q3, which is a tad disappointing.
I would much rather a higher cash dividend than these buybacks.
All IMHO DYOR
Happy
Https://www.londonstockexchange.com/news-article/BP./4q23-sea-part-1-of-1/16319223
Fixed dividend increased 10% so I was spot on here.
Buybacks $1.5bn for Q1 but $3.5bn promised over H1 so looks good.
Net debt sharply reduced to $20.9bn.
These results look very good and underline how cheap we are. Need to read fully...
All IMHO DYOR
Happy
I have high hopes for this set of results, which will be driven by an exceptional trading performance. BP's trading team is better than Shell or Exxon and they both did well.
I am expecting a 10% increase in the fixed dividend and buyback of £2.5bn.
All IMHO DYOR
Happy
Julian Dunkerton the founder wants to take them private.
https://www.investegate.co.uk/announcement/eqs/superdry--sdry/superdry-plc-movement-in-share-price-/8020050
Is this a template for us?
All IMHO DYOR
Happy
On reported takeover.
If Superdry can jump so much in one day following appalling recent results, there's definitely hope for us lol!
All IMHO DYOR
Happy
Investors are being too slow to respond to the improving macro environment. Lower rates will ease the pressure on the consumer and reassert our position as a growth stock.
Everyone is rightly focused on May for a substantive update but if our sales growth this year exceeds expectations, the new FD may want to announce it sooner. So an update could come sooner.
I remain very bullish on Boohoo and will reassess my holding in Dec 2024. The new year has not started well from an SP perspective but the investment case is stronger than ever; we've never been in such good shape operationally or financially.
All IMHO DYOR
Happy
Https://www.telegraph.co.uk/business/2024/01/30/bp-lost-net-zero-no-mans-land/
For those who don't know, Ben is a Net Zero worshipper. Here he addresses the Bluebell letter.
I can't post a non-subscriber version. I don't know if anyone else can.
All IMHO DYOR
Happy
I don't see this article as trashing Boohoo but it's completely got the wrong end of the stick because it's referring to individual brand accounts that are very old and irrelevant. They are for year ended February 2023, which Boohoo has already reported on at group level.
It's poor journalism reaching the wrong conclusion based on outdated data.
All IMHO DYOR
Happy
It's a new article but the results filed for the individual brands, which exclude Boohoo itself, don't tell us anything material that we didn't know from the previous Boohoo trading statement. They relate to year ended February 2023 so they're a whole year old.
All IMHO DYOR
Happy
Absolutely spot on LTT.
FIG need to get their skates on. They are partly responsible for many of the delays to date.
Put bluntly, the Islanders need to decide whether they want to be fabulously wealthy or remain a sleepy backwater. Either is a perfectly legitimate choice and the two aren't mutually exclusive.
But it's very naive to expect there will be minimal impact to their lives if oil production takes off.
All IMHO DYOR
Happy
Great blue day!
Long may it continue!
All IMHO DYOR
Happy
Respectfully, it's the other way around. It's very easy to recruit someone especially if you have someone in mind but it's not easy or quick to dismiss someone because there's due process and employment law. At board level, such a rapid exit speaks either to some impropriety (no evidence of this and they would have needed to disclose it) or a boardroom bust-up after which parties simply couldn't work with one another. We should hear more in days and weeks to come via the press.
All IMHO DYOR
Happy
I totally get the history and the cynicism but it's a long time since things looked this good. We have never had a partner as motivated and proactive as Navitas. I think they are excellent and the polar opposite of PMO or Harbour.
The SP is so frustratingly low. I honestly thought we would be heading for 15-20p after recent updates including monetisation of the award and SL.
Surely someone will take a material interest at this price?
All IMHO DYOR
Happy
...to pay off debt.
You have invested in a lemon that is being squeezed to return cash to bondholders.
Fours years of opportunity cost. Keep hopin'
All IMHO DYOR
Happy
Debt reduction is very slow.
At end 2024, fully four years after Rahul was appointed net debt will still be $1.4bn. If they hadn't sold Uganda (which was before Rahul joined) net debt would still be $1.9bn. So, frankly, he's not done much in real terms. And the SP reflects that harsh reality.
All assumptions are based on $80 oil. What happens to Tullow if oil falls to $50 for 12 months?
This is not a good investment.
All IMHO DYOR
Happy
I think we have good conditions for a sustained rally from these levels through to May 2024 when results will be announced.
1) Trading is in line with market expectations. What is most encouraging about this is that we appear, at least, to have maintained our excellent gross margins through the key Christmas period. For me, maintaining gross margins (which at over 50% are far higher than ASOS) is the absolute key to unlocking profits when growth returns. We shouldn't sacrifice margin for sales.
2) Boardroom actions show a ruthless commercial streak and absolute focus on performing at every level from operations, financial and, no less, important the share price. I think McCabe has partly been sacked due to the dire SP which, in turn, is partly to blamed on poor financial comms and sluggish updates. Hope the new FD improves this from May onwards and we have more regular and detailed updates.
3) Macro tailwinds will be a big feature of 2024. Interest rate cuts will support the consumer and credit conditions have been rapidly easing ahead of expected BOE action. Geopolitical will also be a fascinating feature of late 2024. If Trump wins (as I expect) Shein and Temu will feel much more heat.
4) Potential bid interest
The UK market is historically cheap and attractive in valuation terms. Within it shares like Boo offer the biggest opportunity for big gains over the next few years. MA is probably not the only kid on the block. As credit conditions ease, I expect more interest in the UK market from US private equity.
2024 promises to be an exciting year for Boohoo but only time will tell.
All IMHO DYOR
Happy
You make good points SCB and I think MA is too shrewd a businessman to pursue a vendetta.
But I do think his investment in Boohoo is different to some of the others. There's an obvious opportunity to acquire some of the Boo brands he covets especially Debenhams. Also, he can use Fraser's to provide a bricks-and-mortar channel for Boohoo or, as a minimum, a click and collect service. Then, there's the chance to improve Fraser's online offering by recycling Boo technology and integrating back office online channel. The brands could still be kept totally segregated.
I don't know if the Kamanis would sell but their shareholding and influence has wanted.
We will have to wait and see. But this is a fascinating time to be a shareholder.
All IMHO DYOR
Happy
100p by Christmas / New Year was wrong and, unfortunately, there was no meaningful trading, which was my catalyst.
But it's not the same as saying they will be taken private at 25-30p when they are above that in price now. Give me examples of companies going private below the market price. It's totally absurd.
All IMHO DYOR
Happy
Not that in want it when SP is so low but surely a great buy for a mid-sized operator that wants exposure to high margin barrels? Upgrade to resources is lovely.
All IMHO DYOR
Happy