Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
At times like this my grandmother would offer a chicken and bacon wrap, a glass of the creature and a few words of comfort. Pat Coveney has done none of this and I am beginning to wonder if he is a real Irishman.
I have just sold up. If it carries on tanking there might be a real bargain to be had when it becomes ex dividend on 30/8/18 and I will buy back in. But for the meanwhile I am out.
"This is just dying on it's arse after a promising start to the year...high street decking footfall, competition, fraud....its a real hoot being a Dc investor...what next??...dividend suspension"
I suspect that Alex Baldcock, the newish CEO, will announce further tough cost cutting measures such making staff use both sides of the toilet paper. I was going to hang on in the hope of an ex dividend rally, but the way things are going I might jump ship early.
I use a similar strategy LordAdam. I buy when the share is 11% below the annual average and sell when it is 11% above, which is a fairly standard fluctuation in a well run company.I was hoping that the SP would reach 1610, which would have given me a profit of 20% after commisions etc. Instead Glaxo bounced around in the mid 1500s so I sold up for a smaller profit and a quieter life.
I have just sold. 1549 was not the price I wanted but I could do without the continual ups and downs. It has been like watching my grandmother after a few Bushmills. Seeing her dancing round the room and showing her knickers was all good fun, but not the sort of thing you expect from a company in the FTSE 100.
Well right now I think that I will take David's advice and put my money under the mattress. Then I will start a slow plod through the FTSE 350 in search of a company that hasn't pilfered its pension fund, been robbed blind by the Italians and which employs a decent book keeper.
But since I have sold up and can't lose any more money on this dog, I think that first of all I will invest in a couple of bottles of Sainsburys brandy.
Good on you Bob.I look at BT shares like Custer's last stand. That was another great defensive move, but he still ended up being scalped by the redskins.
I wish you guys well and when BT is worth telephone numbers you are all welcome to have a good laugh at my expense. But in the meanwhile I am about to sell up and put my money somewhere safer,
" As the grand architect of strategy, Coveney must take responsibility for the massive erosion in shareholder value."
He should, but it is unlikely. Six years ago the SP was nearly four times that of today and Pat Coveney was CEO. Since then the share price has headed south and Pat has appeared neither capable nor even interested in halting the decline.
I am probably missing something but the trading statement states "The Group reiterates its FY18 guidance of Adjusted EPS in the range of 14.7p-15.7p."
With just under 707 million shares at issue that means that profits for the year 17/18 will be between £104 millions and £111 millions., which will be less than the previous year's profit.
That might account for the fall in the SP
"Mainly just CPOD comments from the FDA. Massively over-reacted IMO!!!"
I dare say that you are right, but this share is up and down like a working girl's nether garments on pay day. It is a FTSE 100 company for Christ's sake, not a street corner chemist. I will hang around until early August when the SP should increase and then I will jump ship.
Hi Sliotar. First of all I hope that Greencore makes telephone numbers and we all end up rich beyond the dreams of actresses. It is just that I can't see it happening. If the company is under attacks by shorts and PE firms are giving it the once over, it is only because they expect the SP to fall. And the board does not appear to have any plans to actually get out there and sell, which is really the name of the game. The profit to revenue ratio is about 3%, which is bloody awful even by the standards of the food business but this does not seem to worry Pat Coveney the CEO, who appears to be a pleasant but deeply uninspiring sort of chap.
As I said, I hope the company does well, but come late August I will be taking my money elsewhere.
Interesting stuff Muirfield. Amazon trades on paper thin margins and has yet to declare a dividend and I can definitely see Greencore going the same way. I think I will hold on until late August when I expect the SP to rise slightly because it will be going ex dividend. I will then jump ship.
"RPC’s top shareholder has warned that the plastic packaging giant is “highly vulnerable” to a takeover bid as investors row over its expansion plans."
Is that bad? I can't see a takeover bid forcing the SP down.
"Based on what?"
Based on the idea that BT's thinking is based on their business plan of the 1970s when you put 4d in the box to make a call. So come Christmas the BOD will announce that calls charges will be cut in half.to 2p. But 2p is nearly 5d so profits should rise by 150% and the SP will be over £5.00 !!!
Ok, you may think that is stupid, but do you really that BT will come up with anything better?
" The strengthening of the pound against all major currencies contributes to the negative impact of foreign exchange on its overall revenues."
Since the pound is going down against the dollar I would have thought that meant revenues would increase rather than decline. I think that I will sit back for a while and see if the SP reaches 1610, whereupon I will jump ship.
The market is no doubt nervous over the enviromental kerfuffle, but then the market is always worried and the tree huggers are always making a fuss over something.
I think that I will hang onto RPC for a bit longer.
Greencore has an Revenue to profit margin of 4% and a board of blameless noddies who don't seem to realise that they are going to get their wedding tackle squeezed when the big supermarkets merge and turn the screws on their suppliers.
I would like this share to soar, but then again I would like it to rain Guiness and that isn't very likely either.
This is all good stuff, but cost cutting can only go so far.
For the year 18/19 Dixon's profits are estimated to fall by 25% and its revenue to profit ratio is going to be about 3%. Neither are likely to help the SP.
I would like to see some signs that Baldrick and Co intended to actually get out and sell mobiles and vacuum cleaners and knicker elastic and the like as opposed to wandering around turning off the lights to save 5p on the electricity bill.