Member Info for mick-b

CEY - bottomed out and rising
Because of Good-ish results for a change
Recent history has been full of woe with a partial collapse of a mines wall which caused reduced output and huge costs to rectify

GLEN
Reopening old coal mines that it was going to sell

Begbies Traynor (LON:BEG) - Red Flag Report
Just in case you found last night's TV news too cheerful, here's another helping of doom, No surprises to hear that bars & restaurants, and retailer sectors are struggling - we've been expecting this to worsen, due to the ending of the rent moratorium (which made paying rent optional during the pandemic). So a cull of zombie companies is coming - leaving more business for the companies that survive of course ( Next (LON:NXT) mentioned earlier this week about good weather, and less competition, as being a surprise upside on the performance of its retail stores). Begbies also mentions construction as another problem sector, which I'm surprised at, as the listed construction companies have been putting out fairly upbeat trading updates recently. Do readers have any thoughts on that? This is an unusual comment on inflation from BEG - "Businesses continue to be impacted by rising inflation in the 'real economy' which is far exceeding the official rate of more than 9%.". There's a big rise in CCJs. No surprises here, but it's worth a reminder -

"We are now in a very high inflationary environment that's piling pressure on businesses that were already weakened by the shock of the pandemic.

"Sectors most exposed to discretionary consumer spending - bars and restaurants and general retailers - are feeling the pain most. Hit by staff shortages due to the latest spike in Covid rates, their customers are now reining in spending on anything that's not necessary, ahead of the expected hike in the energy price cap, and we are seeing clear signs of this in this Red Flag data."

"I am also particularly concerned for those SMEs who operate in energy-intensive sectors, such as manufacturing, as some could simply become unviable. Without the benefit of an energy price cap, business energy tariffs have at least trebled, and for many it will be much worse."...

..."Additionally, the anticipated double-digit rise in business rates next April will heap more pressure on to vulnerable businesses, despite some benefiting from the recent revaluation.

Begbies Traynor (LON:BEG) - Red Flag Report
.Just in case you found last night's TV news too cheerful, here's another helping of doom, No surprises to hear that bars & restaurants, and retailer sectors are struggling - we've been expecting this to worsen, due to the ending of the rent moratorium (which made paying rent optional during the pandemic). So a cull of zombie companies is coming - leaving more business for the companies that survive of course ( Next (LON:NXT) mentioned earlier this week about good weather, and less competition, as being a surprise upside on the performance of its retail stores). Begbies also mentions construction as another problem sector, which I'm surprised at, as the listed construction companies have been putting out fairly upbeat trading updates recently. Do readers have any thoughts on that? This is an unusual comment on inflation from BEG - "Businesses continue to be impacted by rising inflation in the 'real economy' which is far exceeding the official rate of more than 9%.". There's a big rise in CCJs. No surprises here, but it's worth a reminder -

"We are now in a very high inflationary environment that's piling pressure on businesses that were already weakened by the shock of the pandemic.

"Sectors most exposed to discretionary consumer spending - bars and restaurants and general retailers - are feeling the pain most. Hit by staff shortages due to the latest spike in Covid rates, their customers are now reining in spending on anything that's not necessary, ahead of the expected hike in the energy price cap, and we are seeing clear signs of this in this Red Flag data."

"I am also particularly concerned for those SMEs who operate in energy-intensive sectors, such as manufacturing, as some could simply become unviable. Without the benefit of an energy price cap, business energy tariffs have at least trebled, and for many it will be much worse."...

..."Additionally, the anticipated double-digit rise in business rates next April will heap more pressure on to vulnerable businesses, despite some benefiting from the recent revaluation.

Begbies Traynor (LON:BEG) - Red Flag Report - is here. Just in case you found last night's TV news too cheerful, here's another helping of doom, No surprises to hear that bars & restaurants, and retailer sectors are struggling - we've been expecting this to worsen, due to the ending of the rent moratorium (which made paying rent optional during the pandemic). So a cull of zombie companies is coming - leaving more business for the companies that survive of course ( Next (LON:NXT) mentioned earlier this week about good weather, and less competition, as being a surprise upside on the performance of its retail stores). Begbies also mentions construction as another problem sector, which I'm surprised at, as the listed construction companies have been putting out fairly upbeat trading updates recently. Do readers have any thoughts on that? This is an unusual comment on inflation from BEG - "Businesses continue to be impacted by rising inflation in the 'real economy' which is far exceeding the official rate of more than 9%.". There's a big rise in CCJs. No surprises here, but it's worth a reminder -

"We are now in a very high inflationary environment that's piling pressure on businesses that were already weakened by the shock of the pandemic.

"Sectors most exposed to discretionary consumer spending - bars and restaurants and general retailers - are feeling the pain most. Hit by staff shortages due to the latest spike in Covid rates, their customers are now reining in spending on anything that's not necessary, ahead of the expected hike in the energy price cap, and we are seeing clear signs of this in this Red Flag data."

"I am also particularly concerned for those SMEs who operate in energy-intensive sectors, such as manufacturing, as some could simply become unviable. Without the benefit of an energy price cap, business energy tariffs have at least trebled, and for many it will be much worse."...

..."Additionally, the anticipated double-digit rise in business rates next April will heap more pressure on to vulnerable businesses, despite some benefiting from the recent revaluation.

FTSE100 FLAT
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I buy 2kgs of oats in a plastic bag from TESCO for £2
V cheap and tastes the same as branded Scottish oats

GATEBOY
"Somebody must pay for this bung, and ultimately it will be the French taxpayer through a state bail-out of EDF and the utilities. It is going to work out to be expensive."

Unsurprisingly you failed to mention that EDF is being subsidised by UK tax payers who pay EDF UK enormous sums for their energy making Macron a very happy man
btw EDF was already 85% owned by the French Government, so hardly a bailout

triple lock

It was in the CON-servative manifesto .....

Seems to me they are hurting the West more than Pukins Russia where the ruble has recovered.

STATE PENSION
BOE says......consumer price inflation was now likely to peak at 13.3% in October

The State pension is calculated on CPI this September according to the triple lock
UNLIKE this years state pension of 3% which reneged on the triple lock

GAZZ
YES .....All the services have been cut repeatedly year in year out
As an ageing population despair especially the poor
Meanwhile the PM worn out through partying goes on holiday for a rest.
Poor thing

It went down a penny in 15 mins 88

RR results were poor

From Reuters. (U.K. completely fxcked, for years. Brexit, the gift that just keeps giving, all this was already in play before covid. Asset prices will tank)

The economy would begin to shrink in the final quarter of 2022 and contract throughout all of 2023, making it the longest recession since after the global financial crisis.

Ushering in the slowdown, consumer price inflation was now likely to peak at 13.3% in October - the highest since 1980 - due mostly to the surge in energy prices following Russia's invasion of Ukraine.

That would leave households facing two consecutive years of declines in their disposable incomes, the biggest squeeze since these records began in 1964.

44.8p live

Dropping like a stone.....

FTSE100 FLAT
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Greggs (LON:GRG) (£2.18bn at 2131p) [No section below] - not a small cap but… I had a quick look at interim results from this on the go food retailer yesterday. It’s a good business, and shares have lost a third of their (over-priced) peak 2021 value, and now look more sensibly priced (not cheap though). I’m mentioning it for read-across to other retail/hospitality shares. Sales shot up 27%, but profits were only flat against last year. This is due to “the re-introduction of business rates, increase in VAT and higher levels of cost inflation”. FY 12/2022 outlook is in line with expectations - which is EPS flat vs 2021. If one of the best operators can only achieve flat profitability against all these cost headwinds, and withdrawal of large Govt support, then what chance do lesser hospitality/retail businesses have? Hence I think it’s best to assume that profits remain under pressure for this sector for 2022 and 2023. Providing forecasts are set realistically modestly, that’s fine. But racy forecasts expecting big profit growth could be an accident waiting to happen. It’s like a minefield at the moment, we have to pick our way through very carefully.
https://app.stockopedia.com/content/small-cap-value-report-wed-3-aug-2022-vare-951890?order=createdAt&sort=desc&mode=threaded
(SUBSCRIPTION ONLY)

FTSE100 DOWN 0.2%
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