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So a 10% down day. Well if that's the bottom in then it's not too bad although i can see it dropping a bit more! On the positive side we could've woken up to: 'NA business has no interested buyers & our debt has gone up.We need £300m so 2 for 1 rights issue. 25p per rights share' The SP in that scenario would have been banged down to 30p. Thank God for small mercies.
Well, i'm kinda glad that day's over. Not pretty. Not sure that low won't be tested again either although it seemed to bounce off it a few times. Wouldn't expect it to go much lower than that. I'd actually expect this to be back on the up once the noise has quietened down again!
Yes, their pricing strategy needs sorting out for sure. Bit concerning to see the overall ROCE reducing but nice to see 23% projected ROCE on the new stuff coming in. If those numbers can be achieved this won't be 50p forever!
I don't think anyone on here really expected the numbers today to be pretty & they weren't. But come on. This could have been much much worse. I think the drop has been overdone but it doesn't surprise me. It always happens on any sort of negative earnings statement. The positive for me is no likliehood of any dilution or CR etc short term at least & at now we might see Cosmen showing his hand!
JG, yes annoying as it is i bought another load today. My first tranche here was @152 about 18 months back & been adding all the time but this has been constantly downtrending bar the blip up to 92. It's sometimes tempting to throw in the towel but i do think it'll recover in time. Maybe not to the old highs but my average is way below £1 now so i might start selling a few once we start going a bit higher. a dog of investment this really has been for me!
JG £2bn in cash & facilities. Revenue continuing upwards. Any need for CR etc extremely unlikely. Was my primary concern really. As long as the businesses are ticking along here this will be fine over the long term IMO
This morning was always going to present a buying opportunity in the absence of any astonishingly positive news. There is always the danger it will now drift in the absence of further news. Personally i'm happy that a lot of my immediate concerns here have been satisfied. I'm hopeful the new finance chick will breath some life into this but it's likely to continue to be a slow burner for a while yet!
Usual results day rot as i see it. I don't think many look beyond the headline early doors. Hopefully finish the day flat or eve up a bit. Wishful thinking of course! Personally i was quite content with the RNS. Could have been far worse then that anyway!
Always amazes me how the sentiment changes people's approach. When this was £1.50 people were starting to buy up saying how cheap it had become. 10000 shares at that price will now buy you 25000 shares but i sense far more reluctance to buy at the lower level than the higher one. While obviously the news on this share has been almost constantly negative since that 1.50 level i haven't actually seen any news which could be considered a total disaster (i.e. affecting this as a going concern). For me Monday will be a time to buy here for sure unless there's catastrophic news but even then if it's a tin hat day could be a great opportunity to get these dirt cheap as if they're not there already!
As i understand it the impairment costs were factored into the last earnings statement. The Balance sheet in itself, now that the short term debt has been refinanced actually looks very similar to the balance sheet back in 2018. The big difference being in the earnings hit from the impact of Covid. Barring no black swan events if they can get the earning back on track to the 2018 levels this could do well again. A long road ahead here though for sure!