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Joseywales
as has been posted ...99% of the presentation was already in the bag , no doubt weeks ago...being then held up by the German Regulator changes
so..in affect the final tinkering of provisions and re-writing of text regarding Germany wouldn't have actually added much ..... and .. it seems pretty obvious that behind the scenes they have been pretty frustrated by the hold up and the delay in getting 2023 behind them...
I suspect they cant wait to get these Results behind them... in all fairness ..and they probably have far more Urgency than what the auditors and Regulators have unfortunately allowed them
" Part of the reason was limited Kroger brand awareness in those areas"
yes ....but read ValuePlay and he will try and tell you that it is the end of the world for Kruger and Ocado ...despite the fact there are still a number of CFC commitments still out there for Kruger and Ocado ...
be careful what you read is my advice
" if Kroger did want to build out more Ocado"
The thing to remember about Kroger is that they already have a contract to build a set number of CFCs ... of which only a few have been completed...it is a long , on going contract ...with Kruger apparently picking sites in the New York State area for their next locations ..so I read
so..in effect Kroger has more than enough in its current contract without even having to think about " build out more"
The closure of 3 spokes is small fry when one is able to stand back at view the bigger picture
Kruger has annual revenue in 2023 of $1.8 TRILLION and people are panicking over the closure of 3 spokes
Valueplay seems obsessed over 3 spokes yet keen to ignore these bigger picture commitments
"such as the new Hatfield site etc"
sorry ..I mean the Luton site
Valueplay
part of the fund raise is to fund their own CFCs for Ocado Retail such as the new Hatfield site etc ..plus R&D ..for the advancements of the technology of course
Valueplay
I would be interested to clarify the issue of CFC Customers ....
The books have Contract liabilities of £446.7m (FY22: £422.9m) which is stated as
" primarily relate to the consideration received in advance from Technology Solutions and OIA customers."
" Revenue is recognised when the performance obligation is satisfied, typically when a site goes live or OIA products and services are provided. "
so...my understanding .....rightly or wrongly from the wording of "received in advance" indicates that the customers pay Ocado in advance , but it is a liability until Ocado actually achieves the obligation
Ocado have spent cash to achieve the "performance obligation" which is shown as CAPEX spend .....but... they dont remove the liability from the account and add it to revenue until the site goes live ...
Ocado does invoice for design aspects and that moves off the liabilities and onto revenue when the client shows satisfaction and signs the invoice document
so.... in affect ..Ocado are achieving more than the accounts suggest at this stage .... because the revenues of obligations complete have yet to be received as revenue...on the books
If you look at the RNS for example regarding McKesson Canada ( 15/11/2023) it states " Ocado will receive upfront fees during the construction process with the final payment upon final installation"
Middle East Iran/Israel on the surface, now, just looks like Alpha male bravado .... seems neither side actually wants to take things into war.....just a shame grown up manchildren need to have tit-for-tat exchanges with missiles...
" Investors take the risk then HM government plunder most of the profits."
but any tax is against net profits, after claiming full losses against gross profits
A lot of the cash isnt theirs ...it is their clients..which they spend on building the clients CFCs
"The UK has overtaken France and the Netherlands in exports" isn't that strange?
well there isnt much between them and take out the London advantage of Financial Services and you may well find the UK is behind ...
https://www.dailymail.co.uk/news/article-13293237/brexit-Britain-biggest-exporter-France-remainers-blow-eu.html
Savage ,
You were saying " £1.60-65p very soon" back at the end of December .... "114p shortly" now seems like a bit of an admission of prediction defeat
"And do I give Flying Fu#k what others think....Not really "
and do you think anyone gives a Flying Fu#k what you think ?...Not really !!!
😂🤣😂🤣
I bought yesterday too.... mainly because I thought it was an insult to price them so low.... decided to give the shares a proper home :-)
"Very unusual for a FTSE100 stock to be up after ex-dividend."
All depends on the market at the time of the ex div
let´s face it .....3p out of 600+ is of little significance
The div situation was clownish...but all we know is the BOD delivered the news...who made the decisions is somewhat unknown ... but it would be naive to think stakeholders like lenders/key shareholders werent involved in the debate
"..that is the right decision to reinstate a dividend just to take it away 6 months later. 2
Fish
I guess we will never know just what or who the forces were behind such decisions , but as we have discussed .. I dont personally think it was down to the CEO/CFO themselves .... lenders/key shareholders often have their say on such things and the BOD represent the stakeholders, after all
Paddyboy
I agree.... they have the revenue to pay the bond coupons, pay their loan interest payments and work on improving margins ... they cut divs, save costs, and chase new business opportunities ... and do what is necessary to sell a business if so..
They cant determine when interest rates come down, what the German Regulator will or will not do, or the state of the German economy or UK economy....
Just keep moving forwards, pay the bills as due, and press on ..
I see full support from lenders at the present time, myself
" and there was a complete disregard to shareholders or share price"
Fish
There are a lot of stakeholders here and shareholders are but one group.... I think they know too well that the market isnt going to love a share that has no dividend and high finance costs .... so..in some ways they focus on the business ... the market does its thing ..a BOD cannot always chase or defend that
" I'm not stupid enough to claim expertise"
Haha ...well that in itself makes you smart then :-)
This is no time to be nervous ... you are either in for the medium term ..or not at all .... everything isnt going to be resolved in the next Update... it is an ongoing process... and you are either in it until at least H2 end ..or not at all
That is how I see it
If you umm and ahh about whether to be in or not...best to leave ....IMO