Member Info for my2penneth

Anyone care to explain how a 33 for 50 rights issue results in a quartering of the divi ( because note 5 in the RNS doesn't help)?
Hopefully the new guy will have a better grasp of programme management than Mursell...I would like to think so.

Other than that, its not very inspiring.

A year ago, shorttracker reported 5.2% ..today 1.42%.

and another thing - how do you go about paying down the debt....either from margin and/or disposals. Wood Group will need to sell something off as they are not making the margins from the contracts - they appear to be loss making.

If both get a fine from a possible involvement in Unaoil dealings, I reckon PFC is in a stronger position.

(and NO, I'm not Renard in disguise).

As we're on the PFC board, I never understood why PFC were hammered by the SFO announcement and WG weren't (well, nowhere near the same extent).

The concern I would have if I was a Wood Group shareholder is that whilst PFC has already seen its share price crucified (for the same thing - twice, but has demonstrated 'bouncebackability ;-) ) - is the hit in share price for Wood Group still to come?

Well you're on the PFC board....

PFC - no debt and made a profit. " Net debt eliminated; net cash of US$90 million"

WG - net debt 1.54 billion USD and loss for the period of 7m USD.

Better dividend?
WG about 4.6%
PFC about 5.9%

Unfortunately, no...IRV no longer exists.

Whiteling & Barker look like the will be keeping their jobs. It's a WTF moment.

I see Norweigan Airlines are planning to bill Boeing for the grounding of planes.

Tui will be making a claim against Boeing for damages. Their dodgy planes are costing Tui money...they will have to hire alternative planes.

As Tui have 737 Max8 in their fleet, perhaps some of this mornings fall is understandable.

Kenj - the net debt will be based on cash flow, simple as that. It says they're expecting big chunks of money to arrive from completed work and this will reduce debt.

I reckon it's too early to call with Kier. It's a good job they did the RI when they did.

I'm expecting a 50% reduction in the divi, saving 25 million per year.

I would like to see the remuneration committee take a stronger stance on the bonus scheme and introduce a clawback mechanism valid for 5 years. Won't happen though!

Certainly Mr Dew CFO should pay his bonus back. Basic salary of c. 1million.

Behind all this.? Adrian Ringrose, former CEO. He lead them into this mess with energy for waste . You cant really blame DW. He went on record to say that they were in nowhere near as bad a position as Carillion ( Daily Telegraph). He now manages Syrinix having taking a chunk of money to leave IRV. As for the other BOD ( Barker et al) , where the f were they during this mess? They definitely deserve to go...

Long term holders have lost 95% of their value and are likely to vote against the current BOD just to wave two fingers to them and see them out on their derriere. The BOD have lied continuously and I certainly wouldn't chip in any more money just so we can support their fat wad pay cheque until next time.

Write IRV off - the BOD are incompetent and this last stand is just another example of their stupidity...and they have the balz (sp.) to ask for another £3 per share - you'd be mad to throw good money after bad ...extract and urine if you ask me.

All you need the BBC presenters to do is smile and read the auto-cue. "Red is good, right ? ...?"

Why will they need rescuing? Swiss Re isn't exactly doing well ( divi not covered by earnings) . Swiss Re Debt and cash flow ..hmm? P/E ? Swiss Re have little wriggle room with the growth expected ..if they fail to deliver...

Some of the top fallers are XD today.

RIO are paying a superfat divi ( Ordinary plus super special ) - hence the understandable fall.
Persimmon - fat dividend - understandable

Tulloch's long term incentive plan ( "bonus") is most likely to revolve around debt reduction and EPS. Hence the update which says not to expect 9% divi growth rates going forward...fair enough, 8% will do! Seriously, it had better match RPI.

Anyone buy today at 406p?

XD 11 April
Pay 30 May
20.75p..up 9% on previous.

Well Norway pension funds are nvesting heavily in the UK as they feel it is undervalued. Note THEIR pension entitlements compared to the UK!