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This person from share cast is as good as i am in financial world.
have a read
https://www.sharecast.com/news/dealings-round-up/director-dealings--16556693.html
As per financials of 2022
Total Current Assets 2,664.00
Total Non-Current Assets 603.00
And As debt has increased these assets probably are worth less than the above.
Not sure What is on sale and how much cushion do PFC have ?
PFCVET mentioned a few options.
May be A hybrid approach?
There is no smell of a takeover yet otherwise this could have skied.
There is no sniff of anything what PFC is doing apart from making good progress.
Lets see if they can make results look any good to market. Also I am anticipating a big fish(contract) to fell before or after the results.
Https://www.meed.com/petrofac-selected-for-algeria-upstream-project
Being delusional is not a bad thing as it keeps some people going. Good news(finances sorted) and it can get to 70/80 in my head.
1.50 comes when it is a profitable company which it is not at the minute.
Bad news it goes to 19 as per FT.com
https://markets.ft.com/data/equities/tearsheet/forecasts?s=PFC:LSE
Being invested in here for a few years tell me that when people join the party they are bullish and quietly run away when this goes down with further bad news.
Setting this aside the only thing which gives me some confidence is the consistency of Ayman Asfari. As long he is invested there is a chance of revival. And I hear people talking about takeover for a pound etc. Can someone image the loss Ayman Asfari will take on a pound takeover?
Looking at FT below are forecasts
High 319.2% 100.77
Med 68.3% 40.47
Low -17.5% 19.84
and also it thinks of a dividend of 0.012 in 24
And market beat which Mary sent as below only says the upside and no downside
UPSIDE/DOWNSIDE
440.8% Upside
GBX 130 Price Target
These guys are not thinking about rights issue which is very possible
Ashley Kelty, of investment bank Panmure Gordon said: “Overall, tone is bullish, but the paucity of actual detail will frustrate investors at the lack of concrete progress from this review and will do little to alleviate concerns about the poor performance of late.
It also said that it would face interest payments of US$80 million, which also seemed strange for a company claiming to be cashflow neutral, and having less than US$400 million in debt as this implied a 20 per cent interest rate.
Petrofac said that it expected to face a tax charge of US$25 million to US$35 million in 2023, and tax payments of US$70 million to US$80 million. This seemed strange to me, given the company’s consistent run of losses. Companies that are losing money tend not to pay much tax