Member Info for TerryM1

If you tax the private landlords out of existence where do all the people live who can't afford a mortgage, not enough council houses but a huge margin and hotels are full of migrants. Perhaps we can find an empty barge for them or some containers as they do in some London Boroughs

I think you will find due to government tax changes many people renting out houses/flats are losing money, the rents may be high but it is the Government raking in the cash to waste it elsewhere.

If landlords are so greedy why are so many selling up when property process are falling and it is difficult to find investments that can keep up with inflation even before all of they lovely tax High Tax Hunt has given us.

Capitalizer

This is what CPI do, throw a load of one offs that very few if anyone understands and then give the impression that this is the end of these only to find a new set on the next report. The cynic in me says they are just trying to hide the true figures in that there is either a lot losses to be accounted for, some of which will be wheeled out in each report as one offs until gone or there is close to zero profitability, perhaps even a loss.

IMO the loss due to hacking knowing how CPI operate is likely to be more than reported, when it is fully known I expect the BOD to say this is another one off and more than predicted. IMO the BOD knows this company will not be profitable for a time, perhaps a long time which is why they are not buying shares and in fact selling.

Hope I am wrong but kicking myself for being fooled and buying a few more shares at 22.7p, the first I have bought since the Rights Issue, the company and the BOD have no credibility and the whole of the BOD with the exception of the new guy should go or be removed by shareholders.

The price of €25m represents a 26 per cent premium to the valuation of the wind farms as at 31 December 2022.

https://www.insidermedia.com/news/ireland/investment-firm-sells-trio-of-wind-farms

I guess the price is being held back but Treasury yields which keep rising.

Unhooked

“In fact my chart says the share price is now at 10-year lows. Does that mean the strategy hasn't worked?”

Clearly it has not worked for the shareholders (far longer than 10 year lows), the company is worth far less than the amount raised in the rights issue and has also sold off most of the family silver to achieve this, no wonder JL has been sent out to pasture, who would employ him after this fiasco.

It is like taking an old wrecked car to the garage and being told it is worth a lot more than it scrap value and if you give us some money we can do it up and make you a nice profit and it won’t take too long to fix up. After years of promises of “it will be ready soon” with the garage selling off all the good bits you find is it worth hardly anything and has been good money after bad, also is going nowhere after the garage sold off the wheels to pay for more of their charges.

However we are where we are and hopefully with JL gone we may get someone who can fix the mess. There is a good case that it is worth far more than it’s current SP but after all the broken promises for many years there seems to be few people (or at least not many with enough cash) who are willing to believe this. It looks like we are stuck with a very low SP which probably undervalues the company by a significant amount but until we get some good news faith will not be restored. However there are many UK companies out there with low SPs where the assets are worth far more than the company with very little hope of significant recovery but pay large dividends. I have a number which include Lloyds, Aviva and Serica Energy, the main difference is I get inflation busting dividends (or soon will) to compensate for poor management.

I fooled myself that this company was undervalued after the TU and bought a few more at 22.7p, I can only hope that I will be proved right and we all benefit from a revival of the SP, only time will tell and I hope we are not asked to wait for more years for this to happen. For me a good sign of recovery is when a decent dividend is paid, the accounts are far less complicated (probably deliberately done to hide bad news) and we stop getting these exceptional items wheeled out at every opportunity and then this nightmare will be over.

Good luck to us all who have lost so much at the hands of JL and before, we certainly need it.

This FTSE 250 stock is at 27-year lows! I think it’s time to buy

https://uk.finance.yahoo.com/news/ftse-250-stock-27-lows-090758180.html

I hope so

Perhaps they sold the travel business to pay for JLs leaving present.

On a more serious note does not seem like a good time to sell as travel is really picking up.

Gotoutjustintime

I am hoping that the new broom will sweep away the current mess, only time will tell. I did take a small positioning in my SIPP at 22.7p in the hope of trading out at a profit thinking that was the lowest point or close to it but got that wrong. This was in addition to my main holding which if all else fails will be used for capital tax loess.

It is so ironic we waited for a time to get back in the FTSE250 to boost the share price but will be out on the next reshuffle, hopefully the last present from JL and the gang.

With luck and the new guy let’s hope this turns around, I think a lot will depend on the result of the hack in short to medium term, the more information we get on this the better, CPI tend to keep quiet if there is just bad news so hoping to hear good news on this soon. Until this is fully known the market will continue to mark this share down as it does not like uncertainty.

"It were extraordinary items (hack, pension, goodwill impairment and business exit costs) "

Capita has lots of extraordinary items, every results brings out more, it seems they have warehouses full of these to be used for each set of results, also have a warehouses full of excuses and broken promises. Let's hope the new man can get a grip and not think the only option to more problems is to sell more of the profitable parts of the company. The money raised in the rights issue is far more the company is currently worth and then add in all of the family silver sold off. Good riddance to JL with his extraordinary items, excuses and broken promises, just need the rest of the useless BOD to go.

says it all

"with 12 sell recommendations and no buys, abrdn plc is by far the least favored of analysts in the blue-chip gauge, according to data compiled by bloomberg. the average price target implies about 7% downside over the next 12 months, the most of any benchmark constituent bar miner anto***asta plc."

https://finance.yahoo.com/news/lowest-rated-ftse-100-stock-103909022.html

"Recovery by Friday"

Which Friday?

Hexam

"What will be next?"

JLs leaving package and party.

The SP is in line with most of the other high yielding shares I own (mostly REITS but some others), they are all around 10% off there lows now with a jump up on last set of inflations figures. They all seem to be tracking the gilt yields with a few % yield premium, this tells me as inflation falls along with interest rates and gilt yields these shares should go up. One of the reasons there is a discount to gilts apart from the security aspect is that there is no capital gains on gilts so the yield gap it sort of makes sense . DYOR

Trenners

Not sure about being debt free when it has just issued £102m of senior loan notes.

Also it is fairly certain will be kicked out of the FTSE250 on the next set of changes, something else for CPI shareholders to look forward to.

My previous post is now incorrect "SP almost 1/3 of the rights issue price", it is now down over 1/3 of the rights issue price, the gift that keeps giving.

"It recently signed a £50 million contract with the City of London Police to run contact and victim engagement services for a new fraud reporting service."

https://finance.yahoo.com/news/capita-draws-line-under-25-081327015.html

Perhaps the shareholder of Capita could go to "victim engagement services" given we seem to be the victims of broken promises leading to financial losses.

Ian.B

JL probably did his best to turn Capita around but it took him 5 years to find out he was not up to the job and happily took all the remuneration while making promise he knew were unlikely to be fulfilled.

As for the hacks I also think there is a lot more damages to pay out mostly because of the deafening silence for the BOD on this now. Hopefully the insurance will take care of most of the costs but if so who will insure CPI for this in the future.

Let's hope the new broom will sweep away the previous CPI mess.

He is proud to have taken great remuneration packages for years and no doubt a golden goodbye with a great pension and all he had to do was destroy shareholder funds and conned the shareholders with broken promises.

His retirement job will selling swamp land in Mississippi.

The usual jam tomorrow report for Capita no dividend for a time and no real progress except we now have £102m new debt at a high rate even after all the selling off the family silver.

“Dividend to be reinstated in future and be modest” so just more spin.

JL has certainly been a disaster for CPI, SP almost 1/3 of the rights issue price so anyone who took up these rights has not just lost money but lost all the rights issue money and more.

The things JL has been good at are

Broken promises

Destroying shareholder value

Sell off profitable part of the company for a turn around that is pathetic

No dividends in over 5 years and none for a time

Creating Capital losses for shareholder to use again capital gain tax

I will repeat myself but this sums it all up, BOD said at the rights issue

“The successful implementation of the new strategy is expected to generate at least £200 million of sustainable annual, post-tax free cash flow in 2020”

Good riddance to JL and I hope he will not be getting a golden goodbye.

GOCPI, I appreciate your comment on me, it takes a brave man to admit when they are wrong and you this did with good grace. It is easy to be taken in by the CPI spin machine but over the years I come to accept that anything said by this lot must be taken with a pinch of salt and it is only the hard figures which tell the true story.

Let’s hope the new guy can do a better job, we will know when this nightmare is over when a proper dividend is paid.

Bismarck

That is correct if you broker deals with W8-BEN correctly or 0% withholding tax in a SIPP.

If you pay tax on dividends i.e. over the tax free allowance you can fill in the Foreign Pages in SA so will not be subject to an additional 8.75% dividend tax making the real tax rate an additional 6.25%, I like to hold these outside my ISA so I can get the 8.75% back on other shares or 20% on REITs in the ISA (ISA full). However I have seen this questioned somewhere that the WHT cannot be offset against UK dividend tax but I can cannot find any definitive answer but gets accepted in the SA and no tax is due in the calculations but DYOR.

“The poor performance at AVIVA and UK companies generally has been around for decades; before ESG policies were even a twinkle in the eye of any company director.”

In general I agree especially the cronyism but the ESG agenda has been around for quite a time creeping more insidiously into every part of our lives until it is now openly stated as part of an investment policy and recruitment decisions, although highlighted by David Cameron (hug a husky) it went back way before then. I remember this in the early 1990s but did not start to influence investment decision to sometime later.

During the lockdown because of the vast government giveaways financed by debt I decided to switch my investment strategy to miners Oil and Gas as I knew it would lead to high inflation so better to own companies with stuff in the ground which is inflation linked and also will lead to increased taxes and governments would find it harder to tax multinationals. I predicted this along with many other amateur investors, if we knew this why did the professionals in Aviva miss this great opportunity, perhaps they also saw it but the simple answer is they are wedded to the religion of ESG (as can be seen from the reply from Aviva) which has lead to the poor performance and will continue to do so along with the poor quality of management (as you mentioned).