Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
Do they really get paid for such insight ???
(Sharecast News) - Analysts at Berenberg raised their target price on engineering and consulting business John Wood Group from 150.0p to 220.0p on Friday following the group's first-quarter trading statement that came hot on the heels of news that it had rejected a takeover bid at 205.0p per share.
John Wood said Q1 revenues were lighter but Berenberg also noted that encouragingly, underlying earnings had grown 4% despite the lower sales. Further growth was also expected as 2024 guidance of high-single-digit EBITDA growth was confirmed.
However, Berenberg said working capital movements were likely to see year-end net debt higher than previously thought.
The German bank added that a recent takeover approach from Sidara had been the near-term driver of performance, and it believes "a significant upside risk remains" due to the potential for further bids.
"However, if Sidara does not ultimately make an offer then we could see a large sell-off in the shares. We assume a 50:50 probability between a follow-up bid around the 240.0p level and no bid materialising, which underpins our price target of 200.0p," said Berenberg, which reiterated its 'hold' rating on the stock.
"We make minor changes to our estimates, nudging up our margin assumptions given the encouraging start to the year, but increase our net-debt estimates."
Large trades going through both sides - was expecting a 20% drop and a buying opportunity.
Here we go again - a buying opportunity if back to the 130s
Timing of FY2024 Full Year Results
Dublin, London 10 May 2024:
C&C Group plc ('C&C' or the 'Group'), owners of the Tennent's, Magners and Bulmers Ireland brands, and Matthew Clark and Bibendum Wine, announces that the FY2024 full year results announcement, scheduled for 23 May, has been deferred. Whilst the preparation of the Group's Annual Report and Accounts for FY2024 is well advanced, additional time is required to complete a review of certain non-cash accounting measurements relating to previous financial periods.
C&C re-affirms its guidance of an expected FY2024 underlying operating profit outcome of c.€60 million, in line with current market expectations. With increasing confidence in the medium-term outlook for the business, together with its strong cash generation and conversion, C&C also re-affirms its intention to return €150 million to shareholders over the next three years within its stated leverage range.
The rescheduled date for the Group's FY2024 full year results announcement will be provided as soon as possible.
Underneath the jam
continuing macro-economic uncertainty and resultant client caution, particularly amongst technology clients, have continued in Q1 2024, along with the expected lower activity in some of our larger Technology Services clients.
As well as margins is no one concerned about client retention?
As Martin said last year
Sorrell on S4: 'The train set we have is sufficient; we just have to run it better'
Buy the dips forever !
Mx
Looks like there are looking through the results and heading back to to 130p levels,
Ge0rge
Just noticed your post. Yes great time.
PFC - who knows at this stage - will add when it resumes. PFC board will kick off again when the news breaks - as for now my posts there are still my current view.
Mx
Very content with PRU atm after the flak that was taken at £7 when I stated I was adding - a UK bull run is starting at last.