Member Info for Metamorphosis84

On the day so far, is this going to be hammered another 10% today, or will the good news out and the ship turn?

I was simply responding to note a possibility. But seeing as you mention it, what is the IRV pension defecit?

"For a start, nobody agreed a financial package with CLLN precipitating it's collapse." But someone did agree a financial package with CLLN, it was their inability to meet their obligations of the agreement that caused their collapse. That is a matter of record from the time from a number of sources: https://www.theguardian.com/business/2018/jan/15/carillion-what-went-wrong-liquidation-staff "The company needed a £300m cash injection, but the banks that lent it money refused to put more in" And if the Guardian aren't reliable enough for you, try the BBC: https://www.bbc.co.uk/news/amp/uk-42731762 "In December, the firm convinced lenders to give it more time to repay them. But the company's banks, which include Santander UK, HSBC and Barclays, were reluctant to lend it any more cash."

Having shed a further 60p since the last time I posted here (last Weds), I cannot understand why investors, private and institutional continue to give the green flag for bonuses, in this case 68% in favour for a board that has resided over a 28% loss on the SP over a 12 month period and 6% over the last 3 trading days. Sometimes I think shareholders get the BOD that they deserve.

That is an interesting question Northern Pride. This time last year, Carillion we trading at 44p after falling during the summer and autumn and by January they were no more so it is at least a possibility.

Well there have it. The answer was yes.

Spot on Lord Lucan, a lot of long and medium term holders have thrown the towel in, that is obvious ( or we wouldn't be down at 46p right?). I also think that the new buyers may well take profit as it creeps up, which will slow down growth. As regards results, the gamble is based on that. Anyone who can count without the use of fingers and thumbs will know that without disposals the numbers just dont stack up for paying off the debt. And no amount of sour grapes will change that fact.

What other parts of the business are desirable to someone else and floggable? Cash has to be raised somehow, denying that is to stick the head in the sand, but where is the cash to come from?

Another all time low reached. Meanwhile this week we have learned that another deadline has been missed at a waste plant: https://www.building.co.uk/news/interserve-misses-another-efw-deadline/5096408.article Also 83% of invoices are not paid on time: https://www.building.co.uk/news/interserve-queries-more-than-80-of-its-invoices-new-data-suggests-/5096473.article Surely cashflow can't be that bad? Or maybe it is if jobs don't get finished on time. Yet no news on disposals, surely, even the most optimistic contributor would be getting concerned now?

Sorry, but they have got to get a lid on this. A further 20m, is that it now? Or are we going to be here again in a few months time? And if the RI covered the initial writedown, what will cover the further 20m? As an aside, I observe that shareholders are being advised to vote against the directors bonuses. Unfortunate as the Carillion collapse and Aberdeen bypass is, I do think the board should share the pain. https://www.constructionnews.co.uk/companies/contractors/galliford-try/galliford-bosses-bonus-package-rejected-by-shares-adviser/10036859.article

Don't be such a sore loser. Try putting your efforts into forming a coherent argument instead.

First of all, a warning for those who may be of a nervous disposition and who cry when they hear bad news, this article is not optimistic. A fascinating insight non the less. https://investomania.co.uk/2018/11/is-the-interserve-plc-share-price-heading-to-40p/ The performance of the Interserve plc (LON:IRV) (IRV.L) share price has continued to be disappointing in recent months. The company’s stock price has declined from around 69p three months ago to approximately 48p at the time of writing. That’s a fall of 30% in a relatively short space of time, and follows a period of decline for the business in prior months. In the short term, I wouldn’t be surprised if there are further falls in the company’s share price, since investor sentiment seems to be weak. And from my experience, trends can be persistent over a sustained period of time. Interserve is expected to post a fall in EPS of around 77% in the current year. This suggests to me that it continues to face challenging operating conditions. While it has been able to win new contracts in recent months, I feel that revenue and profit growth could be difficult for it to come by over the near term. A tough economic environment may lead to reduced demand for the company’s services. I feel that Interserve could experience further challenges in future. I believe that while it has an improving strategy that could yield higher returns in the long run, investor sentiment could remain weak and lead to further challenges in the company’s investment performance. As a result, after a 30% fall in three months, I’m not feeling particularly bullish about the company’s outlook.

Why does it upset you that I have shared some articles from the news media? Other contributors here regularly share news stories of contract wins and such like without comment. Interesting to get your view on the project, its a shame that Interserve "declined to comment".

Meanwhile, over in the construction division. https://www.building.co.uk/news/delays-hit-interserve-hotel-job-on-street-made-famous-by-oasis-album-cover/5096280.article "The 110-bedroom Premier Inn hub hotel was due to open earlier this month but a spokesperson for the budget hotel chain’s operator, Whitbread, admitted it was up to 10 months behind schedule." "One source told Building groundwork measurements for the development were incorrect and steelwork that had gone in had to be ripped out and put in again. “It’s had a lot of issues, this job,” said one." "One business said: “They seem to unbuilding as fast as they are building. No one around here has any confidence in what’s going on.”

Lets hope CRC can get on top of the problems identified. "Heavy case loads, technology issues and infrastructure problems led to a criminal rehabilitation service being rated as “requiring improvement”, a watchdog said" Read more at: https://www.yorkshirepost.co.uk/news/interserve-s-west-yorkshire-community-rehabilitation-company-requires-improvement-says-inspectorate-1-9420881

"Just as well IRV are not in the market for PFI's then" Really? Not according to Interserves own website. Indeed they boast " Under the UK government’s Private Finance Initiative (PFI), Interserve has a record of providing ingenious solutions to meet the UK’s infrastructure needs" And "Interserve has built an impressive reputation in the delivery of PFI projects and now manages one of the largest portfolios in the UK." Also "We have invested over £100 million in equity and sub-debt to help deliver these projects, which represent a whole life value to Interserve in excess of £3 billion. Interserve is a long term investor in PFI projects, having transferred our equity interests in 32 of these contracts to our pension fund and retaining an active management role in 40 projects." Furthermore "Our commitment is shown by our successful participation in the UK government’s PFI programme in which we have invested in excess of £100 million of equity into PFI projects and have raised in excess of £3 billion of further finance." So much for not being in for PFIs.

Furthermore the government is scrapping all new PFI's. https://www.bbc.co.uk/news/av/uk-politics-46023089/budget-2018-chancellor-abolishes-pfi-for-future-projects Irv will not see a penny of that 20bn.

If the Daily Express representation of the governments intentions are to believed the NHS money is NOT going to 'facilities' as complies with your fantasy, but to the front line. https://www.express.co.uk/news/politics/1037914/Budget-2018-NHS-spending-how-much-is-chancellor-philip-hammond-spending-20bn-nhs-5-years I don't think any chancellor is going to write a check to IRV for 20bn quid so the BOD can give themselves 125% bonuses and for you to benefit from a SP rise.

Before the greedy profiteers get ahead of themselves.

20bn for the NHS, not 20bn for IRV.