Member Info for slarti_bartfast

'Have you got access to the news where you live?'
LoL. News is a kind of psychosis vs long term. Indexes and liquidity will give it up to individual stocks shortly imo

even if you take profit you lose it somewhere else or 10% to inflation over the next year if cash.
Never been any good at timing trades over the long term on a single stock unless you walk away with profit..thats liquidity, the market/ capital markets.
This will be climbing again next week imo

Added a few more today, and my daughter learnt how to set a buy order and bought so now watching out for me LoL

NOFEAR, thanks. That works. Been enjoying premium LEX on FT.....'Read almost all the top financial online articles with this browser add on'. https://addons.mozilla.org/en-GB/firefox/addon/bypass-paywalls-clean/

@No1 'I’d buy a small number of shares and hold on to them for the long term'

whats a small number when today we saw 38m multilateral trade published

I'm worried I'm holding too many and not enough

'just in time' is a good commercial finance principle.'

Its also the start of another budget cycle (public sector) so I would expect recruitment to have a green light and Weller did say he expected a spike in cashflow over these couple of months.

Yes, why not. A cheeky bid to catch all that cash is possible after all that restructuring etc and is another good reason to hold imo

I suspect the gearing metric improvement wont be confirmed until there is a full set of (audited) statutory accounts and that is a very conservative approach. Also CPI is a small cap now not FTSE 250.

In the meantime, we know £215m maturing debt in August must move the needle toward the target where headline net debt to adjusted ebitda pre IFRS 16 has reduced from 2.7x (2020) to 1.7x (2021) and CPI have targeted 1.0x over the medium term off the repayment of that debt in August and the focus moved to a conservative liquidity position to support the continuing business.

By medium term, I assume CPI means 2023.

My knowledge of the gearing calculation, current course and speed is limited to the london stock exchange tear sheet for CPI and the outlook in the FY2021 accounts.

GLA

Heres the detail I have for tomorrows update following 2021 year end.

'Stuart Morgan, Director of Investor Relations will provide an introduction to Capita and UPDATE ON PERFORMANCE FOLLOWING the publication of the FY results which were released in March'

https://us02web.zoom.us/webinar/register/8016482115926/WN_h1LUTKvJQnCuo2iwiJooQw

Think operating margin impact is the transformation, (industry/channel mix) and already priced in. More important is ebitda, adjusted ebitda and the massive improvements in gearing (debt reduction).

SP held up well today and speaks for itself. Agree, want a good rns to backup lewis claims about the pipeline this year, then SP will motor imo.

'We may escape a real mauling Monday because of the weekend.'

some would say we have already had a mauling? General market and tracking the US, well, where else are you going to go? Bonds falling with interest rates. FAANGS falling with FED tightening. Cash purchasing power falling due to inflation etc

NF, thanks for the web page archive link. Very useful

I watched 22p come and go. Too scared to trade any. Confident holding will bring bigger reward

Looking back a few years, net gearing was
2018 -1,775%
2019 -501%
2020 -300%
So quite an improvement with continuing improvement in 2022 as per the 2021 stats

'Liquidity
Available liquidity at 31 December 2021 was £392.4m (31 December 2020 £708.6m). During 2021 net debt (excluding leases and restricted cash) reduced by £117.3m from £603.5m to £486.2m. Liquidity remains a key area of focus. The Group’s committed bank facilities provide liquidity for the cash fluctuations of the business cycle and an allowance for contingencies. In June 2021, we signed a £300m forward start revolving credit facility (RCF) with our lending banks for the twelve months to August 2023. The new facility will start upon the expiry of the current RCF in August 2022. We are reducing the size of the RCF over time as our liquidity requirement diminishes and we continue the execution of the disposal programme. The RCF was £40m drawn at 31 December 2021 out of a total committed value of £385.7m. Following the disposal receipts in early January, the drawing was repaid and the commitment reduced to £377.5m.

A sustainability component has been included in the new facility that can adjust the margin by up to five basis points conditional upon achieving agreed ESG KPIs. One of these KPIs has been achieved and as a result a slight reduction in the facility margin is anticipated in August 2022.

In March 2022 the Group executed with one of its relationship banks a committed backstop bridge facility. The facility provides £70m of additional liquidity and it incorporates provisions such that it will be cancelled or will partially reduce in quantum as a consequence of specified transactions, including on completion of the announced disposal of Trustmarque. The committed facility has an expiry date of 31 August 2023 with an option for a further one year extension at the option of the lender. The facility is subject to covenants, which are the same as the RCF. Finally, at 31 December 2020, £150m in similar committed bank backstop bridge facilities were in place. These were cancelled on 1 February 2021 on receipt of disposal proceeds.

'Admittedly, Net Gearing drops significantly once you strip out lease obligations,'
CPI will also pay down £215m maturing debt in August from the transformation disposal proceeds. Looking forward is a material improvement over looking back. We just have to wait for confirmation of reporting metrics and performance improvements. Maybe thats a question for Mr Morgan next week.

Stuart Morgan, Director of Investor Relations will provide an introduction to Capita and update on performance following the publication of the FY results which were released in March

https://us02web.zoom.us/webinar/register/8016482115926/WN_h1LUTKvJQnCuo2iwiJooQw

NoFear, if I was doing my MSc again, I would have loved this as a source of data. ARIMA modelling, regressions and then trade the variances.

'This might explain why no substantial purchase by the BOD has taken place since the shares cratered this year.'
Lewis has a very generous LTIP at these prices. New Chairman will buy after 7 May agm imo

I guess knowing the profile of the PI's helps inform trading and investment strategies. Right now it looks like stock holders vs cdf/ margin trades all within a very narrow range (flatish).
Its the boredom when you are addicted to gambling. I am detoxing on this stock from trading it to pensively awiaiting an RNS, Mr Morgans update next week or a a cheeky bid

Interesting to see the mix of investors. I had a quick read of Marathons website (biggest mover) which promotes thoughtful patient investing. I like that Rothschild have made a small investment and can see the ftse250 trackers selling vs small cap buying etc

Thank you no fear. Very interesting.