Member Info for Mulder

Bizarre. Very.

Not selling until we reach a sensible price i.e. 200p+ or receive an offer for M&A Centrica is a defensive quality utility.

SSE and NPower merger for example. Plenty of opportunities and interest out there.

Cost efficiencies continue to be delivered, with the �750 million cost efficiency programme being completed three years earlier than planned. Therefore, the cost efficiency programme target has been increased by �500 million to �1.25 billion per annum by 2020. This is good news for the company�s investment outlook in my view. Lower costs could mean that the financial performance of the business has greater scope to improve. Investor sentiment towards Centrica appears to have improved following today�s update. Clearly, it is too soon to tell if that can be sustained over the medium term. In my view, the company has experienced a difficult period, but seems to be making progress with its turnaround strategy. While I anticipate further volatility in its performance and share price, I believe that in the long run it could become a strong recovery share. Therefore, I remain upbeat about its investment potential. https://investomania.co.uk/2018/02/centrica-plc-surges-3-todays-results-growth-ahead/

A quality global utility company like Centrica with its defensive qualities and significant Oil & Gas assets to boot should be trading at a minimum 15x earnings (13.3p) in a fair and regulated stock market = 200p

Fruitster major fund managers have been commenting that the current SP is just ridiculous with the yield close to TEN PERCENT and the revenue 4x the current market cap! Cash flow and adjusted profits are around a third of the market cap. Talk of selling some nuclear assets also. A leaner Centrica must be very attractive to a foreign bidder at these share prices.

https://webcasts.centrica.com/event/default2.php?eventid=1557&media=&Msg= Noody - Those figures are after �500M in exceptional one-off costs relating to oil&gas assets

Annual revenue of �28Bn is 4x current market cap. Crazy. Up strongly in Germany and Canada. Cash �2.8Bn up from �2Bn Also mention that British Gas tariffs are now the lowest among the Big 6

Final dividend 8.4p Yielding 6.5% alone.

Dividend to be maintained at 12p (yield approx 9.3%) if cash flow continues >�2Bn

14:13 60.00p 595,937 �357,562

16:51 249.12p 835,127 �2,080,452 Buy Company must issue an RNS - clearly something is going on.

After a 15% rise in 2 days company has a responsibility to explain either way.

�Discussion of a dividend cut is massively premature,� said Lakis Athanasiou, an analyst at Agency Partners. �There would be no reason to -- credit metrics are healthy. Although the share price is saying otherwise.� The company fell 41 percent last year, the worst performer in the 29-member Stoxx 600 Utilities Index. �People are overlooking the positive drivers,� said Roland Vetter, a portfolio manager and head of research at Praxis Partners LLP, a London-based fund investing in utilities. �If oil and gas prices stay where they are and they�re able to keep the dividend then the stock looks attractive.� **Shares could react positively on Thursday if there is some restructuring announced through mergers and acquisitions, RBC said.

https://www.thetimes.co.uk/article/ukips-death-throes-could-boost-the-tories-br2zf3cs8 Ukip�s death throes could boost the Tories Half a million voters are up for grabs Although it�s not the force it was in 2015, Ukip still scooped 593,852 votes in last June�s election. More than half a million voters spread across Britain�s marginal seats may soon be politically homeless � and their obvious new home would be the Conservative Party.

Given the North American issues forecast EPS was revised down to 13.3p for the year ended 31.12.17 At the current SP the P/E is still below ten. Historically utilities have tended to trade between 15 and 20x earnings given their supposed defensive nature. Even if EPS drops to 10p in coming years with price caps and a Conn calamity or two at the current SP the P/E is still only 13. As for political risk from Corbyn the current turmoil at UKIP can surely only be good for the Tories resulting in more defections and votes if an election happens before 2022 when it is next due.

It could just be a very rich person who fancies a punt! Solitary trade remember. H2 looks like it will be worse than H1 by the way from recent guidance.

16:52 232.82p 742,861 �1,729,523 Buy

One of the most significant things in the FY results was the reduction in liabilities from $38.1Bn to $31.6Bn. Current liability is $7.8Bn Net income $4.3Bn so within 2x Admit not a fan of GAAP and non-GAAP reporting Free cash flow of $3.4Bn

From August/September tailings operations alone should see 110,000oz p.a. produced at a cash cost around $500/oz This drop seems extreme.