Member Info for Thunder2040

I anticipate a VAT cut for pubs will come in the next few months. Also, lets please remember that although there is a lot of debt here, there is a lot of real estate on the balance sheet too - so the debt is backed by tangible assets.

I like the make up of the pub estate having beer gardens here, feel like they are better placed to open with social distance than others. There will be significant pent up demand.

Directors' buying in decent quantity also provides some reassurance. Granted it will be a long recovery but feel this dip is a good buying opportunity.

Total crooks here

He will sell into the rise so don't bother buying this

https://www.cnbc.com/2020/07/02/five-us-airlines-reach-deals-with-treasury-department-for-billions-in-coronavirus-loans.html

If any of you lot can get the directors in jail I will consider that a success.

Anyone got any thoughts on why this has a P/E of about x6 whereas Centamin trades off around x30 - am I missing something here in terms of assets or something?

Good luck the longs here tomorrow. I do not have skin in the game going into results tomorrow (after much deliberation), needed to keep my powder dry - but expect a big swing up or down. At 10-20p averages some newer holders here should have no worries. Will dip back in if I see an opportunity either way.

Some of the lads on here need to get a grip and stop ramping. Its a fine balance at this price. If your sales are decimated and there are payment holidays on the loan book plus bad debt down the road, the cash situation will be dire....I have been long on this stock in recent weeks but I am starting to feel there could be a sting in the tail when results hit. Compare to booho and Asos as much as you like but 80% marketing cut will hurt the sales. Don't kid yourself. There will no doubt be a huge backlash to this post of other longs but I want to try and save a fer PI's some cash...don't think this is a clean cut bag.

This will be wound up. Without a positive court case vs fca this has zero value

Hi Ian
Never hid my cash concern...just reacting to news today of the credit deferral ext. news. They said expect 20% reduction in repayments..just means that will go on another 3 months...just use the info how you wish. Like the look of Ince by the way...followed you in on that!

Extension of credit repayment deferrals is bearish for this in my opinion...delays defaults but cash is going to suffer. Anyone else got view on this?

Feels like a coiled spring this...going to go boom shortly I suspect

I think the results RNS is in play now Ian, could drop anytime in my view.

They talked about options on unlocking liquidity from head office freehold and debtor book back in the March RNS which like a few said, coupled with the sales crash that month spooked the market. The subsequent RNS re: new debt facility terms and improvement in sales in May saw this begin to recover. I expect market is waiting for confirmation of improving trend before the upwards moves accelerate. No doubting the retrace of last few days was just general market risk off in my opinion. Also expect significant Director' buying post results.

Also wondering about Londoner's question - is the rolled up interest paid in bonds at par or fair value?

Cheers Romaron, I noticed they may be unsecured notes, but I have taking a serious look at oil and gas corp bonds atm to diversify.

A while since I owned any Enquest shares, I was interested to know if any of you actually own the 7% loan notes? Noticed they are trading about 63 and was tempted to scoop up a few. I don't usually buy bonds but at the moment I was tempted by the extra security they might offer and assume when they redeem in 2022 I could realise a fair return.

I have read it. Good analysis but when you are trading at P/E of 1 trust me - cash is the concern from the wider market not profit. Every calc. we do at these prices should be about cash. Hope we get some encouraging results anyway. GL

25% of H1 product revenue is £70m so agreed, the marketing spend reduction (assuming it doesn't lead to any further decline in volume) should be able to cover the cash hit from decline in sales to a large extent..once things have stabilised they need to start cranking the marketing spend back up a bit if possible in my view.

The cash headroom is the only thing we should all be bothered about at the moment. I have not done a follow through on the impact of the sales decline on cash generation yet - but that for me is the nailed on reason this keeps swinging around like a penny stock. The £50m corona loan was key - as the payment holiday would have bitten too hard otherwise. Looking at US market tonight could be some more pain tomorrow so I may have jumped back in slightly early but if you think this survives anything under the 80p touted by HSBC should be 'safe' entry