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No need to deramp here. Management have the job well covered as evidenced by the SP.
Torygraph readers have woken up from the weekend rec.
Most ad agencies balance sheets carry large amounts of goodwill and intangibles. It's the nature of the business.
WPP have c 10bn of both which is greater than the market cap. Its certainly the case that SFOR its far greater proportionally but I would argue that is a result of poor operational performance and current cashflow impacting the market cap SFOR rather than the balance sheet or at least the balance sheet vs its rivals.
Regarding the director sell. He explained in a call that it was a sell from a family trust he doesnt have control of. Make of that what you will.
Nothing will change here until SFOR show that they can be relied upon to achieve previous guidance. Constantly missing forecasts will attract shorters like flies to a turd.
"Government of SA approval and therefore the $2.5m cash payment from Africa Oil are expected to be received by year end 2023."
Their brokers should be ashamed for letting them consistently make statements that subsequently turn out to be rubbish....
1pencil
If I'm not wrong the Fidelity sell of happened in November. Nige posted a Bloomberg screenshot mid November and FMR were not listed in the top 20 at that time.
Whatever it looks like there is still concerted selling ongoing.
Lol, its been a redwine festive season, must be the thought of a dry January!
Apologies for the atrocious typing!
They released the trading update for last year on Feb 9, both it took them 2 months to release Q3 numbers so my expectation would be somewhere between. Of course off they have burst the net in Q4 we might get it early Feb.
Fingers crossed they are done.If so we should see this move back towards 12p before the results in mid-late Feb
Mondolez are gone or at least no longer a whopper.
Eh?
Given it dropped from 2.50 at the start of the year it needs to do a lot more than double!
25p by then of the year and taken out at 50p
Good to see Rich topping up. He knows there is more to come, one way or another.
Looks like their EZJ short hasn't worked out too well either.
*Ad market will improve
I agree, eventually this’ll recover. As market will improve. , margins will recover and Internal mess ups will recede and most importantly buyout payments will cease in 2024 meaning positive FCF. For it to return to £4 plus though he need a new growth storyline.
And all of the buyouts/other insiders wouldn't be to happy either I imagine at less than the £4ish they sold out at.
Indeed however the only action I see at the moment is him appearing in various TV shows talking down the market for 2024. I suppose he is trying to reset what the market expects but he is talking down the SP while he is at it.
TBH I have no idea what they are trying to achieve now. Digital only, above market growth, blah blah all seems a long time ago. IMO he needs to come out and say...
No more internal F*** ups, its been sorted.
Revised strategy is X
Growth trajectory for the next 3 years looks like X,
Rev and margin targets for the next 3 years are X
I'm no peer of the realm but it cant be that hard, can it?