Member Info for Jxp101

For the old farts on here who were too old to remember this classic :

https://youtu.be/zgZ52M4a_R0?si=pughIT0OjZIO75WT

...All Eyes on Me - great song

There you go. People need realise this is totally under valued

He's that uneducated folk.

Ignore Apothecary - he's that dooms day guy!

@hellodave where did you get 145p from? Again dum a$se uneducated speculation. Amazes me how many on here are so uneducated - lord help them!

@Lochnagary why would new CEO/ CFO need credibility they're fixing someone else's mess. All these questions should have been asked like 5 years ago. People on this board keep saying Naive management. But put yourself in their shoes. They have inherited sh ite from previous management that probably are retired and skimmed the company and new management are trying to do the right thing. Read my previous post.

@jackdog many on here will regret not buying at this price.

@LWHL there is no one to blame. Sales sometimes cost up contracts without Finance Teams involvement. Because a sale is a sale. I've seen large 10 year contracts in a company I worked for being costed up by sales, Finance despite repeated attempts to get involved always got the cold shoulder. Then... A few years later the contract was loss making because it was incorrectly costed and should never have been bid for. I think in Woods case new CEO/CFO are asking questions about past management and how contacts were being awarded - who approved them and what governance was in place. This is where Deloitte come in. I remember doing an audit of my previous employers looking at governance and controls. In that case we concluded that decision making was decentralized (ie being made in each seperate when neither the risk appetite nor margin was in line with HQs expectations). All of these contracts are built out using financial modeling that has a tone of assumptions. Everything from labor rates to cleaning costs. It's hard to predict one off items inside those contracts or even harder to predict inflation in some countries. This is identical to my former employers. I see as a governance review to improve the future.

Yes. The external auditors job is focused on accounting. If you read the RNS this review focuses on governance and control which makes me think this a deep dive review/ internal audit. KPMG will not be focused on governance and control for external audit purposes. Deloitte will be focusing on something completely different. I'm sharing all this as someone who spent 7 years at KPMG and work as an Internal Auditor today.

The trading window for management will open later this week or week after. Usually it's a week or so after results.

The opening question from the JP Morgan Analyst was hilarious. He tried to ask 4 questions in one sentence and ended up all mumble jumble from Wood management.

So the analyst that asked the question should have been asking 'are you further write offs as a result of Deloites review or what exactly have deloitte been engaged to do.'

Captain if something was up they have to let the market know. They didn't announce anything or material weaknesses in balance sheet etc. Under transparency rules they have to disclose. Looking at the quarterly numbers the balance sheet hasn't changed

Yes although communication gaffs are rife in the Corporate world. I've seen Communion Directors being hired for £150k a year yet they can't communicate effectively. This is where the problem comes from. An ii dumped stock on results day that's all that's happened. Results were flat and business as usual. To add to the fire people jumped off then back in last few days. I can't see how this won't be back to £1.60 before Christmas.

‘It’s worth a punter’ this chap posted this after visiting Ladbrokes today.

It’s not a punt you tw @. T . It’s people like you who don’t help people. Posting uneducated sh iiit e!

I think it’s obvious. Management turned down £2. Very simply it’s not worth 57p! Let’s all face it and let that settle in!!

I think this coming week will be a testament to this. The RNS did not warrant the drop we saw this week. It was business as usual. The RNS could have been worded differently which was a communication gaff. I expect to see a strong week next week

Dark Knight I totally agree. The company auditors have already checked impairment during the half year audit. Deloitte have been engaged in an advisory capacity to improve controls and governance and even better the write offs are too high for year end reporting purposes. Impairment is very judgemental exercise and based on assumptions and it could be that the Impairment loss previously was overstated. Would be good if management released an RNS next week to clear up the communication.