Member Info for Metamorphosis84

But it isn't profitable.

Quite literally, there was a 'profit warning' yesterday.

Yes Peter.

Yesterday you expected the SP to edge closer to 200p.

Keep rolling the dice.

Speaking of the order book, look out for a stream of press releases telling us what work has been won.... just like IRV and CLLN.

"Well the Board are doing just great here arent they. My point was the Board of directors has zero engineers - could that be a problem?"
Are engineers adept at calculating net debt figures, or arranging loan facilities?
I am not sure how engineers would help solve what comes down to a debt and balance sheet problem?

Woodford is toast full stop. There has been a run on his fund and closing the doors on redemption leaves his reputation in tatters.

Thunder, good to see some positivity but regards the following could you offer some more detail please.

"not drowning in debt"

Based on info provided by Kier to the market what exactly (or roughly) is the current debt to equity now?

"profitable."

Again based on the info provided by Kier, what is the projected profit for 2019 (? Minus £25m)

"Carillion V2? Will this company still be here this time next year? The banks should give them more money to burn through."
No, IRV were Carillion V2, this is more like Carillion V3.
Debt piling up and its a good question, where will they get the money to trade with from?
Can't see the banks being in a hurry to lend more, especially as a number of them are bookrunners for the disastrous RI.
Another equity raise from shareholders is out of the question.
And there is only so long that subbies will bankroll them for.
It is early to say but looking at this and the pattern that is forming, I am thinking zero equity value will be realised in 12-18 months time.

Well after the 11th March 60m accounting bollock was dropped, then really poor 2nd half 2018 results, served up a plate of sick, you would have thought the message would be "no more f**k ups."
But they haven't managed that, a couple of months down the line a £25m profit warning and more vague statements about "volume pressures" whatever the hell that means.

Kitchen sink? What kitchen sink? The only sink being witnessed here is the share price.

Cold plate of sick. I'm giving this shower 12 months, 18 max.

A £25m profit warning. It could be priced in, considering the continued fall in the last few weeks. But i would expect a sharp drop, such is the distaste for construction companies that can't get their act together.

"Knigelk - Do you now decide who should post here? "

Yes that is exactly what he thinks. Has tried to shut me down many times, as with Daniel F. and a few others.

The fella is troll and a bully, goes around boards telling people when they can and can't post and what the should and should not post. Also a hypocrite as on record several times saying that only long term holders should post, despite having sold all his shares (apparantly).
Ignore him.

"Anyone know what Neil Woodfords average is here ? He might be unlucky but he is not daft."

Daft or not, if tomorrows FT headline is to be believed, Woodfords investors are jumping ship as quick as anything.

It looks like junk stock. And a read of the accounts (as discussed previously) explain why.

The last time this was at these sort of lows was in 2000. Nearly two whole decades ago.

Interesting, kicked of secret talks. Well not so secret.

*Usually* SPs respond positively to this sort of speculation.

"Admittedly that is on a pre-exceptional numbers, but exceptions are just that- one offs"

You would think that, but the reality is that construction firms like GFRD have a terrible habit of reporting 'exceptionals' year after year.
Exceptions have become the norm. AWPR last year, Queensferry this year, no one is fooled into believing that the word 'pre-exceptional" means anything other than "loss", are they?

"Looks like a take over bid coming from a International Construction group and l the main goal of new CEO."

Wondered how long it would be before someone suggested low SP=Take over target.

Nope.

"As it stands the company does not have the luxury of time. It needs to get on with executing a turnaround plan. 6 months now since the rights issue. What has been done in this time to roll out and execute a plan? "

Nothing.

Fundamentally, nothing has changed.

Concerning if after the trading update this can't hold 550. There doesn't seem to be any evidence that the construction wing is being significantly downsized.
And if the housing market has Brexit related troubles, well....

" How many times does this have to be explained?"

Oh at least a few more times between now and when this latest hot air blows over and comes to nothing.