Member Info for RickEngland

If revenue can't be trusted for now, then the only number that matters is cash banked. How much WIP have they got? How much of that WIP is invoiced? (Whats the debtors look like... unpaid invoices) What is the value of WIP not invoiced and why? We can get to the bottom of this

revenue reporting quite quick.

I think the CEO needs to clarify the reason for potential reinstatement of revenue and provide a number. Where's the finance director? Is it millions?

It's pretty serious when the CEO states the prior year may have to be reinstated. Let's say Revenue has been traded this year via manipulating provisions, but the actual cash for that Revenue was taken last year. That could imply some Revenue traded on projects "this year" has no cash value. The fact the CEO has chosen to highlight the issue within the trading statement to the market, stinks of something unsavoury. Now if it turns out this year's Revenue doesn't equal income cash..... and it's a big number. That a huge problem. That means Revenue will have to be transferred to last year, from this year. So where does that leave this years true Revenue? I'd be very nervous, sorry but expect further sp slides until this clarified. What's worse the ceo has kicked the can down the road to the next reporting cycle..... nahhh sorry he can fo better than that. I might play at 9p a share. That's what Atkins want too some years back.

In the last annual accounts cbg listed their dealer loan commons. Most importantly at the end of the list was the sentence "all historical models included a hard cap on the commission amount paid to the broker or dealer". This suggests to me that cbg were aware that some firms could be lending at uncapped rates so set a fair commission rate.

As the entire industry runs on commission based lending, I can't see the fca banning commissions. But more focused on excessive commissions. If.... and a big if.... cbg can qualify thoer hard caps were aligned to reasonable values of commission and cbg in their out of scope appeal, then we could be out the woods completely. I do not accept the risks values (£600m etc) being quoted from an experienced commercial prospective. It's know where near that. I don't know of course what the fca will implement, although I can't see it as being as brutal as reported in the press.

Ok thanks happy to admit I learn something new every day. Not often do I strp outside the fste 100 for investing individual companies.

What I find interesting is the power us private investors have in a situation where only 150.4m shares exist. That's only 15k people owning 10k shares each. I appreciate institutions own say 15%, but surely we have the power to lock in most of the available shares at these low prices. 150m shares is nothing in the scheme of things. We could easily refuse to sell under £8. If the shares keep falling we might find ourselves in a position of very low float. Let's play.... don't sell.

Yeah I hear ya. I'd love my position to be showing green rather than red. But as you say the board have nothing more to advice at the moment. My golden rule with investing is drip feed your buys, to reduce any downside, by aversging down. Anyway cheer up folks, it's only money. I'm gonna pop to the pub for a couple of beers. Smiles.

Yiu want cbg to behave like a mino miner and try and ramp the price? They would lose respect. They board told us they intend to appeal to the supreme court. The market know cbg have 1.8bn of equity farvin excess of the market cap. How much of that is it risk remains to be seen. We know they are selling the asset management business. We know the div is suspended and we await next year if they 'may' pay a small div. Everything they could tell us, we know about. Other than daily price movements. Unless you want daily commentary about liquidity. Personally, no news is good news, until cbg have something "decent" to say. In the meantime I've got a few k ready for £2.00 if the shorts push us down more. Could also be institutions forced to sell,.... who cares at somepoint they will want back in.

I'm sure the board will isdue

Good Companies don't issue rns news just because the market falls. Operationally nothing has changed. We 're invested in a firm with considerable volatility due to fca and courts. Assess the risk v rewards with known information. I personally think it's oversold. But as we might fall out the fste 250 to fste 350 there's now even more pressure on the sp. My advice is get out if the ride is too stressful. Otherwise have packets of liquidity available to average down. This is going yo be brutal, until the yide turns, certainly not for everyone. But I personally believe a 3 year turnaround for decent gains is well achievable. Do some research and don't forget your horse runs everyday with shares, unlike placing a single bet on one race.

Just for a bit of fun, there's only enough shares in issue for 15k people to own 10k shares each. Get them while you can. Smiles.. haha. (Not taking into account director and institution holdings).

Well on the plus side, looks like we may have a few more months pay days to keep averaging down. I've been digging into the last accounts to better understand risk v reward. The board state that "based on the relevant accounting standards, no constructive obligation exists".

My understanding was the FCA review was focused on additional interest being applied rather than reasonable fixed commission payments. The fact a reasonable commission is applied for many businesses means in my mind it's highly unlikely the FCA would negativity oppose such commissions. Let's also remember that the FCA are simply reviewing the manner the motor industry trades loans, they've made no judgement. I suspect the FCA will allow commissions to contine but such commissions must be notified to the borrower. Therefore if we assumed commissions would continue on a fix fee basis (not including interest) then that implies only historical commissions were not openly declared, but doesn't imply it should be returned.

It's very easy to allow emotions to look at this too negative. I believe a reasonable and fair outcome will prevail and commissions will be acceptable but with a cap (I.e. fair cap). Assuming that may happen, there's huge upside here.

I can't see a rights issue required. Certainly not until the FCA confirm the scope to understand and assess sums involved. What's interesting though is many lenders have ceased providing motor loans, to avoid further liability in a market that operates with commission based lending. That raises considerable pressure on regulators and politicians to act to get the market moving. Or in other words the regulator now doesn't hold all the chips and needs to be delicate/careful with any view regarding retrospective consequences. Close are still making money, and holding profit. Sales people make commission, are the FCA going after Sky or cable companies next? Or even energy comparison websites. It's all got somewhat ridiculous. I expect the commissions paid by CB were fair snd reasonable. Personally I think the FCA have opened a can of worms they didn't expect, nor know how to deal with. However a statement from the regulator that retrospective sales will not be included would be sensible and welcome. I'm happy that CB intend to fight, rather than bend over, which became the norm after 2008 banking crash.

That's the beauty of robot algorithms that determine prices these days and why it was so easy to make a ton of upside investing during covid. Don't worry what the algorithm is doing... pushing it lower. Guess I'll top up again tomorrow. With motor firms all pulling their loans, there's now huge political pressure to take a sensible view and put a stop to it.

Wow 222 now via Google. I got in at £2.31. It's nuts equity value of 1.8bn against 330m market cap. I need find some more liquidity. Haha.

Next dividend announcement will be at the full year 2024, finals due on 20th Feb-25 (as per the investor relations calendar) There has often been discussions about moving to quarterly dividend allocation, although at the moment it's twice a year (interim and final)

We only just been paid the interim for 2024 on 10th Sept 2024.

Best focus on what you can control. One of those is the amount of income tax you pay. I switched to part time working last August, and therefore, i no longer pay 40%+ income tax.

Only money might persuade a government to change directions, so while these illegals are milking our system for everything it's got....... stop paying for it.

I'm a lot happier contributing much less to fund such issues. Cause and effect. Action.. reaction haha. Voting has zero impact.

Oversold I reckon. Should start climbing. I-m In for long term divs anyway, so should stop monitoring.

this place is getting worse than 'x', easy for it to deteriorate into angry ****ging match sewer. investing boards appear have adopted the same approach as social media these days. i've dumped all that crap, i'm literally done with the anger on steriods. blocking and all that childishness.

what's not to like? personally i've got a £2k div incoming. it's holding 50's which is great. the buyback is still ongoing. my average buy is around 16p after divs. why all the negativity? plus we gave half year around the corner.

Fair enough. I'm sure after few years divs, my average now is 16p a share, so happy to tick along myself. Looking forward to my £2k div next month for some beer money. Although I'm sure the wife will spend it and ruining my plans.

Sure although there's no incoming covid lockdown haha. I've usually traded my way out of the trouble, with the good news bad news strategy. Say you're going to buy during covid.... is the news today better or worse? If it's worse, wait, if it's better start building. It's much harder to play those games, during short minor shocks, although buying opportunities do pop up during those mini hiccups. Selling is another matter. Although I do get the feeling float is not coming as easy to Lloyds as last year. Generally, there's ceiling rules on buyback prices, that stop the price climbing to infinity. While this buyback is active, I do see 60's as achievable for various reasons. Anyway life is full of risks, shares are no different.

Often you will hear of the "record" date, that means the date your shares need to be 'recorded' on the share register to receive dividends In lloyds case the record date is 12th April. The ex-div date is the 11th April, however it usually takes 2 days to update the register. Similar to settling your trade days, although technically they're not the same thing. Many companies update their registers on a Friday, so you need to be careful selling on a Wednesday. When the shares go ex-div the market will adjust to account for the div payout. If you sell on the opening drop, you might get the div, but you lost it on the capital. Personally I'd wait for the share price to bounce back from the ex-div price before I sold. Although that choice is yours. Hope helps. Rich.