Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Romany- Roe , It all depends as to how you look at it. From todays price of 30p to 34p is 13% up.-Upgraded.
I was not surprised by this drop because this is how the market operate and the heavy weights make money. The Q1 results should be good. That is why they use the fearful situation to buy at lows. For those who fear the fundamentals in this company, there are two issues – results for the Q1 & the debt levels.
1) Take comfort from the fact that most of the airlines have flown 10% or more passengers during the quarter ended 31/12/2018 and had been profitable. That trend should be seen in TCG. While there are lot of positives in the CEO reviews, a significant one would be the partnership with Expedia. The transformation has taken effect from August/September 2018 and the TCG websites are actually run by/contain contents of Expedia. The extent of the contribution towards the revenue is not known and even the CEO has not commented on it. Expedia is the White Horse and it can be a game changer for variety of reasons.
2) Historically, being cyclical nature of the business, TCG has a peculiar debt pattern. It peaks in the December quarter and reduces each of the following quarters and gets to the lowest in September. Rough estimates show that in the last few years the Net Debt has been in the range of£1,200 - £1300 at peak and a reduction of about £350 to £450 in each of the following quarters. The pattern is Q1 1250, Q2 £850, Q3 £450 and Q4 £50to £100. ( all millions)
Unfortunately, last financial year Q3 Debt was £468 but ended with £389 in Q4. The normal reduction did not take place. This was explained to be due to the loss incurred as a result of deep discounts that had to be offered as a result of extended summer heat wave. The pre-booked capacious were essentially sold at a loss. They said they learned a lesson and would be, careful in future when contracting.
Obviously the Net Debt as at December 2018 is going to be higher and I reckon it can be at d £1300 +/-£100.But then the company said the lenders are flexible and would accommodate the increased levels. The peak would have been in December and we have passed it and it will be I the decline now. So we don’t need to worry and the CEO has said he is not going to the shareholders.
GLA
How about a Brexit deal "bonanza"
11.42 , 685,224 shares done @ 101.40p
When the entire market , including Insurance stocks, are in the positive territory it is strange this stock lacks behind despite good Q3 and clearances of certain amount of uncertainty. Hope this gets back to 100p s by end of the day.
This is a very old event relating to a holiday FIVE years ago in 2013.No bearing to current trading.Newspapers are famous for sensationalizing issues even if it is not a serious one either due to lack of worthy news or bias towards an organisation. Thomas cook flies 20 mn tourists a year. The said ordeal should be viewed in that context.
By extending the compliance date to Dec19, PRA has given a lot of options to increase the capital requirements. In its 6 month report Just gave three avenues to reach this increased capital- reinsurance, Tier2/Debt capital and Tier1 - or a combination of the three.Now, as regards Tier1 capital they have twos years of retained earnings 2018& 2019 estd about £250 mn plus of course no div. This will definitely put off the option of Rights issue/
6%++ increase Hope it reaches 10% today and my target is 60p in two months.
Several smaller budget airlines are failing. Primera few days ago, Cyprus yesterday and profit warning from Flybe.Isnt it good for Thomas Cook
My thinking is that this fall is due to a fear that Brexit deal would fail. It didnt happen and the shares should bounce back.
No basis. Gut feel only.I thought to be more positive.
60p soon
Sorry about that. Actually I saw lland post around that time and then did a search, found this article and posted here.Hopefully something comes out of it.
downbutnot out - To whom your query is to me or lland
https://skift.com/2018/10/16/expedia-ceo-mergers-and-acquisitions-are-always-on-the-table/
I think the Chairman must go as he has stayed far too long having completed Seven years this October.To me he seems to take easier path to difficult issues. Even the appointment of Harrieit Green was not his choice or the result of extensive search but Harriet said that she approached him and forced her into that position.In the end he couldn't manage or handle a high profile CEO such as Harriet and let her go resulting in the decline of the momentum she created.Then in the appointment of the present CEO he took the easiest way of appointing an insider without a global search for a high caliber CEO to a company of this mammoth size. The irony is when a CEO does well he show the door quickly within two years and here the present CEO four years on the job taking the company down no sign of a change.
It is interesting to see how this Investor - Kames Capital Plc - manage its position in this company.On 18th July its stake was reduced from 6.30% to 5.99 % a period of severe uncertainty after the CP13/18 release. Now after almost three months they have increased by 0.5%. What is the message they are giving??
Yeah. Yesterday's announcement by Ameriprise Financial Inc of its acquisition of 5.137% stake could also have propelled interest
I had a glance through the response by the Institute of Actuaries to the PRA CP13-18 and they are all negative and questions the rationale for bringing up this proposal now and also suggests longer period - more than six months - than the three months recommended to implement. Also to extend the number of years to bridge the gap to more than the three years prescribed.. Surely when an independent body has these negative views it will certainly have a bearing on the final out come. Moreover it can be expected the opposition of the stakeholders particularly the ERM providers would be even worse.
It gives more credence to RBC comments as quoted by icouldntcomment few days ago.
"RBC said that the UK Asset Resolution sale "shows real confidence from a major bulk annuity writer that the PRA is not going to go with its most prudent scenario", and that it was "excellent news for Just Group".