The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Thanks for your thoughts Scaffman. The truth is they have spent between £200-300mm in 5 years. So many targets have been missed. Whilst we are all hoping for £200m revenue, it's still a poor number given 1,200 employees and four big facilities. The company have been at trade shows for several years but still, most of their big contracts are old customers (sea rose and falklands) or the government. Where is the slew of new, decent size customers...why have they not built a ship or trawler??? Why have they not had one green energy order...one green tug order..one green battery order...one aluminium vessel order...its a tosh tosh tosh. They keep venturing out into new areas without actually making one of them viable.
Xenor. A CFO, is not difficult to replace. Why be concerned? What has he done in 5 years of big money pay? I also suggested a large pay cut c20% to reflect poor performance. Surely pay should be linked to performance. With over 50% of coastal fabrication and four big refurbished yards (Belfast still on going) yet we are hoping that we might get to £200m revenues this fiscal. I would like to point out that this shipbuilder has still not built a ship...not even a trawler or rowing boat with an outborad...nothing self propelled. Barges don't count. Let's not forget the Saipem disaster. All in all. The bounty of promises I have heard over 4.5% years seem to disappear into the ether. Missed targets of revenues and spending with little or no real revenue impact.
Stokey. From the LinkedIn posts of the last two years, more effort has been put into award winning than contract winning. Only the latter pays the bills! As for 5%, I asked the question back in December and was contacted by shareholders with collectively, over 10%...all disgruntled back then.
Xenor. He has used that excuse you a couple of years. Don't forget, he even enjoyed a £1m bonus at our expense. He must either step up to the plate or quite frankly, go!
A bonus of that magnitude and still no sign of profits on the horizon. We have been asleep for too long. The AGM is not far away.
Arun has taken a few £million without putting his hand in his pocket to share the dissapointment of shareholders. He has totally failed with the financing which has been promised for 18 months. Six months ago they threw us a bone that UKEF were on board. This is beginning to smack of total incompetence on his part.
I hope the BoD are enjoying their fat salaries which are only avaliable because shareholders have been patient with them. They have, over the last few years, employed a raft of business focused people but their is little to show. They have spent a few hundred million but still we sit and wait for regular updates on new business. They have ventured into a totally new area of business without any information as to viability to shareholders. I am beginning to think we are close to a shareholder rebellion where either jobs are on the line or sizeable salary cuts are in order.
They cannot keep treating us in this way without recourse. Thoughts please.
Interesting find, thanks. I note that this company will use the funds to update facilities and look for merger and acquisition opportunities...in Norther Ireland
They specialise in ship repair and maintenance but are highlighting the growth in environmental propulsion changes as a driving force for business...
Ps I added the Northern Ireland phase to the take over bit...just wishful thinking.
these were upbeat today as deutsche bank issues a strong research note for bab**** up 2.5% with bae following on looking like another all time closing high. time will tell. let's hope the boe have been watching the various components of cpi that have already been published indicating that the offical april data due 22nd, will fall to 2%. oil is down 10% from recent highs.
the bank meets on thursday to decide on the next move. at the last meet, one voted for a cut whilst the remaining 8 voted for no change.
It would not be a loss of money, 8%, it would rebase the index. All other members would remain same value. A) I don't think they are serious and B) the monies from them divesting here would, to a large extent, be reinvested by the UK based funds into other UK companies.
Stokey. Coutts money move is a pimple on the markets backside. Companies have announced billions in buyback and takeoves are aplenty. These actions return money to investors, much of which gets returned to other UK investment. Relax. To be honest, their timimg is awful with the UK at one of its deepest discounts to peers ever.
Following on from recent posts about inflation coming down dramatically, allowing the BoE to cut rates sooner, this weeks data reinforces that opinion.
Following on from growing unemployment and weakening demand, non food inflation (clothing, footwear and other non food) for April has come in at -0.6%. You have to go back to mid 2019 to December 2021 to find comparable negativity (deflation) Overall shop prices are 0.8% higher y.o.y in April vs 1.3% last month. This fall in the annual retail component of inflation, when added to the decline in gas/electricity costs in April, will see the offical inflation data fall dramatically when released mid May. It is possible to as low as 2%. The Bank of England must cut rates at next Thursdays meeting. To continue waiting will only exacerbate the criticism that it was too slow to raise rates when inflation took off.
Comments from the CEOs of NEXT and Primark reinforces the slowing inflationary forces. Without doubt this is very much to do with CHINA flooding the world with cheaper goods as it battles a slowing property sector, which has powered the countries economy for the past three decades. In fact, in one year during that period, they used more cement than the USA did in the entire 20th century.
Forest. I completely agree with you there is a degree of hype in the US. As for FTSE at all time high just over 8100...it was at 7,000 in the year 2,000. That's a long time for such a poor performance. It is down to the massive withdraw of funds by UK institutions in favour of overseas.
We have talked about the undervaluation of our domestic market vs International and the takeover of these bargains continues. BHP for Anglos this week followed today's bid for Darktrace. The penny will drop eventually that all UK indecies are below fair value. Keep holding as the tide has to turn sometime.