Member Info for Paddyboy1

This company has always had debt over£1bn.

SShorts covering now after rinsing the panic sell.

Personally I haven’t seen anything there that has surprised me but no real positive catalyst either so a fall was to be expected. Just over done I think.

I was hoping to get a chunk below 25 but looking quite solid above that.

JG gearing at 3 is without NA cash. 2.5 in reality.

JG, Lara, as LTHs there is nothing in the report that surprises or particularly concerns me. Nothing unknown has come out today. Problem is that the market sees the headline & decides it’s a sell. All looks very Deja vu from earlier this year.

No great revelations in there. Most of the bad stuff was already out there. Nice increase in ROCE.

Looks like an overreaction to me. I expected a drop but not back this far. Buying opportunity.

LL, yes you Are right but the market won’t read into that. The shorters now have months to chip away here!

Not much there that will drive the SP. Probably see the 20s again!

That is a bizarrely high UT! Got to be shorters actions. Maybe bailing out, who knows?

JG, fair point. These guys haven’t suddenly borrowed 3m+ shares to dump. Just adding small increments into the rises.

Lara, unfortunately it’s not that simple. Based on EBIT of £180m the company should be valued at £1.8bn based on a conservative P:E of 10. Too much other nonsense dragging it down!

Probably back sub 30 again. Few weeks till any news!

SP back to where it was a month ago FFS.

I don’t think the NASB write down is hugely significant. It’s just a negative on the balance sheet which doesn’t eat into liquidity. Germany resolution is the big white elephant in the room.

Haha, true. 36p.This used to move that much in a day!

Times are definitely bad when peeps are flagellating over a 1p rise in SP.

They’re interviewing Garat’s brother for the job!

Swalozie, the vast majority of investors are underwater hugely here. I remember after the COVID vaccine peeps scrambling to get in here sub £2. Things have obviously changed a lot with a few years of diabolical management. For me, my original reasons for investing haven’t changed much. This is a good solid business which used to be a mainstay of the ftse250. I’m confident this will turn at some point but it will be a long haul!