Member Info for PanamaPete

Did someone just open the parachute. Strong bounce off 16.25p.

Looks like they went for 17p stop losses but few, if any, were triggered then the buys came in. Got to balance the books buy end of day.

The grown-ups are back at their trading desks.

Aim, a crash will affect the whole market but you seem obsessed with trashing Capita. 188 posts in the last 30 days on this one stock. People may think you have an agenda here & nothing else better to do.

If the market is in for a major crash, then the sale of non-core business units by JL was timely if not prescient.

I can see you worked hard on that post Aim.

HH, could you expand on which contracts are low profit & which are the inefficient businesses in the 'crock pot'.

Capita is far from distressed and as FTSE250 funds sell, other funds buy.

I do not give as much weight to Director buying as some & I can understand long term holders having tired of the protracted turnaround but Capita isn't what it was six years ago & debt (pre IFRS 16) is down to £166m. More receipts from sales to go on the balance sheet which couldn't be included in H1 & more lease terminations from office vacations etc etc and debt (pre & post IFRS 16) will continue to reduce.

If only Serenety hadn’t turned out to be such a disappointment. .

I seriously think some people just haven't read the H1 update.

"Outlook

• Full-year expectations remain unchanged

• On track to deliver acceleration in financial performance in 2023

• Target to double the Group EBIT margin over the medium term, underpinned by £40m cost savings by the end of 2024".

Shore Capital have upgraded. They say 20p is too cheap & have a 30p target. Just be a little more patient. Should see 20p soon imv.

Sorry, that option is not available right now.

With regard to FTSE250 exit, would you rather CPI was top of a lower index or bottom of a higher index.

Eventually, even shorts have to capitulate.

Shore Capital says CPI can't justify a 20p price tag let alone an 18p one and I wouldn't say the disposals were fire sales either. It's taken JL six years to dispose of them.

Sorry, no reference to i3e but 'a right riveting read'.

https://boereport.com/2023/08/29/boe-intel-q2-2023-report-card-part-2/

To some degree, their hedging program might offset the low prices.

What makes you think Q2 results will be good. They cover a period of low WTI & AECO prices, maintenance & wildfire outages. Meanwhile, we await the capital reduction court ruling & there are concerns of dilution by equity issue to buy production when they have stated vast reserves of their own. No wonder the SP is where it is.

It is also the holiday season so market activity is subdued & cash is returning better rates than many funds or shares. Once the UK has gone over the top of interest rate hikes & risk appetite returns, things should pick up. There are some real opportunities out there at the moment. Sure, Capita has taken a long time to turn around but it is a very different company & much more streamlined after JL's tenure & no longer a conglomerate of disparate businesses. Negativity is overdone. There's also the Santa rally on the horizon. Topped up yesterday at circa 17.5p & my average is about 18.5p. I can't see this staying below 18p for long - oversold imv.

I have added today.

Even better then.