Member Info for MarbleMadness

Https://groceries.morrisons.com/products/lisner-herrings-in-cream-sauce-268679011

Lovely with a side of boiled baby potatoes and salad.

For the first time since 2006, not a single analyst followed by Bloomberg recommends selling shares of Rolls-Royce Holdings Plc.

The last bear on the Street, JPMorgan Chase & Co., lifted its rating to neutral from underweight on Monday, joining other former sell-rated brokers like BNP Paribas Exane and Oddo BHF in upgrading the jet engine maker amid this year’s Europe-leading rally

in the stock.

https://www.bloomberg.com/news/articles/2023-08-07/rolls-royce-is-free-of-sell-ratings-for-first-time-in-17-years#xj4y7vzkg

Time to celebrate with a pint or 3 👍

It's not so much the competition but the delays in funding.

https://www.theguardian.com/environment/2023/jul/18/grant-shapps-earmarks-20bn-for-new-fleet-of-nuclear-reactors-in-uk

...It is unlikely that any of the suggested £20bn of taxpayer funding will be distributed before the next election. A final decision on each project will not occur before 2029 – a date at which Rolls-Royce had hoped to be up and running – with power being produced from the “early 2030s”.

You just can't make this crap up.

What news tomorrow. Like a possible dividend? 😄

SMR competition seems a bit pointless. The rival to RR SMR is GE Hitachi which is based on the same pressurised water technology but puts out less power. Any other advanced reactors like molten salt are more complementary and IMO should be built alongside RR for resilience anyway. What are we competing for? price? delay tactics?

A 2p divi is pocket change from the additional profits now expected.

Although I wouldn't cry if there wasn't one if the debt is being cleared instead. It's a win win.

..is investment grade. Hopefully coming sooner than previously estimated thanks to this WONDERFUL trading update.

Oh and David Perry F*** YOU.

Interrim result will be good. RR will beat the previous guidance because flight hours are doing really well.

Share price will tank on the day and David Perry will come along reiterating JPM's 70p price forecast.

We all know the drill but LTH will always win out and eventually David will get the sack for being crap.

Nettles. What's your logic behind thinking the SP will reach £7 in 2025?

It won't be Great British Nuclear if they buy GE Hitachi.

RR is still quite ahead of the rivals because no other SMRs are going through ONR approvals yet.

The process started 1.5 years ago. Also FA is getting built in the UK until the ONR clear it :)

There's no nimbyism for people who live and work around nuclear facilities such as Sellafield. They're currently lobbying hard to get a RR SMR built next to the existing site because it means well paid jobs and more money for local engineering companies.

'The chair of Solway Community Power Company (SCPC) has said that construction of a small modular reactor (SMR) could begin ‘next week’ if approved by the government. '

https://www.newsandstar.co.uk/news/23626185.plans-still-place-smr-solway-community-power-company/

It's the Tories sat on their hands.

David Perry strikes again. Another tea-bagging.

160p come on 🤑🤑🤑

Https://www.sharecast.com/news/broker-recommendations/sp-raises-rolls-royce-long-term-debt-rating-to-bb-with-positive-outlook--12665772.html

Investment grade between March and September next year according to them. That is not too long considering how much time has already passed since those horrendous lockdowns.

The 'ruthless axeman' has made it into the DT.

https://www.telegraph.co.uk/business/2023/05/28/rolls-royce-tufan-erginbilgic/

The next business that could face the chop could be Rolls-Royce’s Small Modular Reactor (SMR) business, speculates Cunningham.

The company is racing to develop an electricity generating reactor that can be factory-made but it is up against more than a dozen competitors.

Rolls-Royce has repeatedly said it is reliant on the state to place the first SMR order to kick-start the business. However, the UK government has so far dragged its feet and recently opened an international tender process.

“Frankly, it's going to take a decade or more to get a working nuclear power station, if it gets funded and ordered,” says Cunningham, “and it will inevitably get more expensive than you expected, they always do. And meanwhile, renewables are still getting cheaper.”

Rolls could choose to license the technology out instead. The margins would be smaller but this strategy would free up more resources for the bigger challenge of decarbonising its engines.

The new chief executive of Rolls-Royce has said that one of the company’s key divisions had been “grossly mismanaged” in recent years, pointing to the scale of the challenge facing the FTSE 100 engineering group as it seeks to change course after years of underperformance.

In an interview with the Financial Times, Tufan Erginbilgic, who earlier this year shocked staff and investors by referring to Rolls-Royce as a “burning platform”, was scathing about how its power-systems division had been run.

The subsidiary, which makes diesel and gas engines for ships and trains, generated £3.35bn or 26 per cent of the group’s 2022 underlying revenues. Erginbilgic said that margins in 2022 had decreased even though revenues had risen. Costs had not been kept under control. “That’s mismanagement,” he said.

The business, Erginbilgic added, “needs to have a clear strategy and it needs to be managed properly but it has lots of potential”.

An overhaul of management at the unit is already under way. Erginbilgic said he had been behind the appointment last autumn of a new divisional head after being named as chief executive designate in July. There have been other changes since Erginbilgic formally took the helm at Rolls-Royce in January.

Some shareholders have previously questioned whether Rolls-Royce should sell the power-systems unit. Erginbilgic, however, said he believed that the unit had a role to play within the group in the long term.

Can't wait for 555.55

The key bits from the WSJ article.

Mr. Erginbilgic has also brought in a new chief financial officer and an executive to lead the company’s restructuring—both from BP.

He said his first goal is to pay down debt and generate cash to restore Rolls-Royce’s investment-grade rating—lost at the start of the pandemic. He also wants to be able to reinstall payments to shareholders that Rolls-Royce in 2020 said were being suspended.

The company is working on renegotiating about $2 billion of what it now describes as onerous contracts booked to hastily win market share from its rivals.

After 16 years as a nationalized entity, Rolls-Royce was relisted during the government of Prime Minister Margaret Thatcher. It moved aggressively to battle GE for market share, agreeing to sell engines at a loss in exchange for long-term maintenance contracts, many of which were unprofitable.

Those days are over, Mr. Erginbilgic said in the interview.

“I’m not chasing market share at all,” he said. “I really believe that some of the troubles Rolls-Royce has was a product of that approach.”

Https://archive.ph/W63o1