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BP recovered from a £62 billion pound catastrophe, I pretty sure with good management and a revised strategy this company can recover over the next few years. As for employees buying shares they are getting 2for 1 and share save at 80p per share over 5 years. Kerching the ones that are left could be very wealthy.
There are some knowledgable people on here and some loonies, so addressing the former what would it take for this share to recover?
Nuclear sold for £1.3 billon?
Conn sacked?
Cost cutting targets achieved?
Spirit Energy hived off?
Non core business sold?
Dividend halved or maintained?
Pension deficit dealt with?
Take over? Though I see BP have entered the market
Your thoughts please and be mindful the last results had a profit increase which made no difference
This is a large company with lots of potential but is badly run, I am reading a lot about shorters exploiting this. The best way to regain value is to split the company just like National Power did when they were badly run by Brian Count. Cast the vilified side of the business with a new name and fewer overheads so they can compete with the back room energy companies and let Spirit Energy etc make money
I am pleased it worked out for you and sounds exciting what you are involved with now. I only had 10years with Centrica and the rest with the CEGB and National Power so thankfully had some great years and share schemes. Like you I feel for the younger guys who have no security now and lose their jobs when the buffoons above should be shown the door so this company can recover some of its real value.
I retired from the power generation side of the business shortly after Sam Laidlow left, I had a senior position and 35 years experience. I could not believe how bad the management were, they would turn up at meetings with their life coaches and big sticks and talk absolute rubbish. The worst being a guy called Simon Merriweather, he destroyed the power stations unless you agreed with his bull you were disregarded. They told all the experienced guys if you wanted promotion or be included you had to give up your pension, so we told them to get stuffed. Now Conn has to go but when he hires his ex BP colleague Richard Hookway he has protected himself! The cull at senior level needs to come down a long way that’s why I believe the company has to be broken up to regain real value.
The price cap and poor management will cost 8,000 well paid jobs, why doesn’t this make the headlines. The Electricity system in the UK will shortly need billions of investment with companies not financially healthy enough to invest. The remaining power stations including nuclear will soon be invaluable because nobody will build new ones with forecast returns
Centrica says 2019 profit to be hit by energy price cap. British Gas owner Centrica said its profit this year will be hit by the energy regulator's tariff price cap. The company reported a 12% rise in annual group operating profits to £1.39bn for 2018, but described its performance as "mixed".21 Feb 2019
I agree it can happen but surely not with a company making £1.5 billion profit from a very poor management team. A new team at the top and improved performance will surely follow. This is a company that requires a new image and probably breaking up into streamlined stand alone companies to realise their value. I have held senior positions in the electricity industry for 30 years and I have never seen such poor management and retired because of it. There is real value here it just needs to be realised by a new BOD’s
Terrible news about the jobs at Swindon today but never any reporting about the thousands of Utility workers losing their jobs because of moronic government policies like price caps, smart meters, subsidies etc etc. This has happened to other utilities too, selective reporting!
What can one say, more bad news from Spirit Energy, a downgrade from Jeffries and Conn hires a new Chairman from his old club, this looks like the Text book old boys club. These idiots need to be removed immediately and the company broken up and fold off to restore shareholder value. To do this the first step is sacking the board. Come on shareholders start a revolt before a £1 per share is hit.
I am just stating my opinion, you appear to be looking for an argument. Carillon weren't making £800 million profit from the most difficult market t I have ever seen and they were working to fresh air contracts. The government would love to see Centrica gone but then where will the billions come from in investment in the market To completely different companies. Enjoy your day
We all have our opinion, some can afford to follow their gut feeling, I did the same when national power split into two and made a small fortune. Everyone told me I was wrong then too. Just because some city trader has an itch doesn’t mean the lemmings all follow. Let’s see in 12 months