Member Info for jarnold231

Via Bloomberg:

"Vodafone reported service revenue growth of 3.7% versus an average estimate of 2.9%, according to analysts surveyed by Bloomberg. The company also reiterated full-year guidance."

Thats substantially above analyst expectations. Should be a positive day... (ducks into trench, grabs kevlar, puts on helmet)

Just seen an Etihad A380 flying out of Abu Dhabi so they're back flying now

@Rr101 - pretty sure the unions would be in favour of GB based SMR, so I dont think Labour would necessarily oppose it. SMR is a very useful component in the green revolution which Labour are in favour of.

Personally think theres a snowballs chance the Conservatives will get this through before the next election and lI'd say that that snowballs chance is probably better odds that you'd get on a Tory majority at the next GE.

Guessing this mornings sharp decline was on the back of poor Chinese data and reports of a tightening oil market. Happy RR has rebounded sharply showing theres some good support above 140. Made a small top up when she was under.

Also: "As such, the group currently has nearly £6bn of outstanding loan obligations and lease liabilities. This is a significant improvement versus £7.8bn in 2021. But with interest rates on the rise, pressure on the bottom line is slowly rising. "

Isn't debt down to about £3.25bn at the moment?

Agree re:Ukraine, but my understanding was that it was squeezed revenue that caused the fall. While clearly that wont be the case this year as revenues must have risen with more flying hours, lots of brokers are warning that flying hours might not meet expectations and as such my thinking is we could see a repeat of the 2H downward pressure on the price. Like I say I'm long term positive, but have some short term concerns that are putting me off putting more money in just now.

Given we're less than a month away from 1H results I'm wondering if RR might go on a bit of a upward track in the next few weeks, but am equally cautious that if those flying hours arent 85%+ of 2019 we're going to see a repeat of 1H2022 which was about a 5% fall, followed by the descent down to the 60s. Got a big position anyway, so I'm going to keep my powder dry.

Etihad's fleet of A380s are due to begin flying the Abu Dhabi - London route from July after sitting in storage since the pandemic.

I also noticed that a mothballed Qantas A380 that had been parked up at AUH has been removed.

Wonder if the market makers were shaking the tree a little to see how many stop losses they could trigger

Wonder if this is why they added £75m to the employee benefit trust the other day by adding new shares. I hope with interest rates rising there will be little stomach for a full on fight.

Think the reason for the drop is today's UBS rating (oddly, its positive 200p reiterate), but they're warning RR "could reveal some disappointing numbers in interim results later this summer and will need to be cautious on its future guidance".

https://www.proactiveinvestors.co.uk/companies/news/1019307/rolls-royce-flying-hours-to-disappoint-amid-industry-supply-woes-1019307.html

I topped up

0.6% dilution I think (49.1m shares against 8367.6m in issue). So something like £75m into the Employee Benefit Trust if I'm doing the numbers right?

I worked for a US investment bank in the city in an entry level position - a year out of uni was earning 45k in 2009. Spoke to the current team manager recently - the same position is still being paid 45k (albeit the role is a little less time intensive and the team has doubled). Still I think its an interesting example of wage stagnation.

Article on Bloomberg: https://www.bloomberg.com/news/articles/2023-06-22/rolls-royce-sets-up-in-east-africa-to-provide-engines-for-power-transport

"Rolls-Royce Holdings Plc is opening its first office in East Africa drawn by increased demand for engines to generate electricity from renewable sources and to power locomotives and ships."

"The company is in talks with Kenya Railways Corp. on powering locomotives, he said, without giving details. It will also focus on naval solutions and electricity requirements for data centers, a growing market in Kenya valued at about $100 million over the next three years, he said. "

Guardian running a similar story for those without FT access:

https://www.theguardian.com/business/2023/jun/20/rolls-royce-ready-to-rejoin-smaller-jet-engines-market-says-boss

Incora files for Chapter 11 bankruptcy: https://www.reuters.com/legal/aircraft-parts-supplier-incora-files-bankruptcy-2023-06-01/

Incrora reportedly has operations in Derby and "is a leading global aerospace and defence supply chain services firm, providing tailored supply chain management solutions to blue-chip engine and airframe manufacturers, including Rolls-Royce" (https://www.business-live.co.uk/manufacturing/new-brand-revealed-derby-supply-17965333)

Doesn't look like they're going out of business at this stage, but clearly highlights some supply chain issues persisting that could impact RR.

Interesting press release from Nvidia - RR apparently pairing up with an Israeli company to develop software to enhance jet engine design using Nvidia GPUs to do the quantum computing circuit for computational fluid dynamics. Now I dont know what any of that means, but it does sound cool.

https://nvidianews.nvidia.com/news/nvidia-rolls-royce-and-classiq-announce-quantum-computing-breakthrough-for-computational-fluid-dynamics-in-jet-engines

@Phuketpunter2 = think it was just BoAML that was predicting 90%, most of the rest was 84% so its broadly in line if a little down.

At this rate we're going to have more BP execs than BP.