Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
I think a bit higher impairment rate has two components here, as ditch dries out (natural wind-down of loan book as it ages) you see more s$%t at the bottom and obviously secondary effect is recession/unemployment + impact of full rollback on payment holidays and gov support.
"banking license worth" card being played to naive "investors" on many collapsing bank segment shares,
but reality is - there are plenty (hundreds) of banking licenses out there and new being issued without much of an effort.
it's all available on BoE statistics pages.
As for another share you mentioned - they are planning to delist, their equity is multiple times below market capitalization and amount of annual loss hugely exceed whatever they have in equity left.
(by the way - loss is consistent across 5 years in a row, they couldn't make profits even before covid and now it's even worse, each time they about to collapse - they just print new shares to raise equity)
Generally there's enormous risk of full capital wipeout without much of an intrinsic business prospects for profits.
email - most likely "Direct Registration System"
https://www.nasdaq.com/glossary/d/direct-registration-system
Redcrayon - Re: "Incoming short attack, stay strong apes"
Lol, coincidentally that's what shorter would think on a first place right before attack to keep shares as high as possible while they sell theirs so their position is opened at highest possible price.
Why does buzz says it's "profit" when it is clearly a comprehensive loss of -27.2 £m, so for 6 months of this year almost the same as for a whole previous year?
Re: ...It's going to be a fantastic Xmas...
I hope this sentiment isn't attached to progress or outcome of BUR case since judgement can end up not in a way shareholders so desperately are chanting mantras about..
Shares I'm holding positions with - have strong fundamentals and sooner or later get market valuation right next to intrinsic value (DCF), so there's no need to write anything positive about it as it gets where it belongs in a natural way, since it was expected anyways. Having discussions about hugely overvalued anomalies is a bit more interesting.
Generally my stance is more about discussing risks and keeping good opportunities quiet.
I'm not always right of course (anomalies happen on both sides).
EG68 - how about factual data from fundamentals side?
It was consistently loss-making since 2018 (even before covid slump).
Persistent equity drain via PnL and write-off,
then share-printing (to fill the gap) like there's no tomorrow as solution to everything.
and we've inevitable recession looming (purchasing power) + severe cost inflation / price shocks all throughout the system (not to mention supply chain disturbances all around).
To pull out of this in a near-time horizon would require something very close to miracle.
IMV - AML will keep suffering loses over at least next couple of years before showing any signs of improvement with severe risk of situation getting a bit worse.
Australia seeks to reassure citizens on COVID after cruise ship outbreak
...
Carnival Australia's Majestic Princess cruise ship was docked in Sydney, the capital of the most populous state, New South Wales, with "in the vicinity" of 800 passengers on board testing positive to the virus, the company said.
...
https://www.reuters.com/world/asia-pacific/australia-seeks-reassure-citizens-covid-after-cruise-ship-outbreak-2022-11-12/
BBC - Furniture firm Made collapse: Customers in the dark over refunds
https://www.bbc.co.uk/news/business-63539652
Rescue of the business or rescue of shareholders? These are very different things and there's no place for charity.
So it's bye-bye up to £5m of Goodwill/Intangibles due to market exodus,
up to £30m for emergency replace on drain of customer liabilities (bank-run)
from £5m to £7m winding-down costs,
probably another 8-12+ £m for some impairments/delinquencies/defaults or bulk portfolio sale
(although they've announced via RNS that will rather be natural contraction)
and some operational/office costs (PnL)
In the end it looks like there's practically nothing left to distribute for shareholders (out of 41.4 £m equity reported as of March-2022)
current m-cap 1.1 £m
sold for pennies
NEXT plc (the "Company")
Acquisition
9 November 2022
The Company announces that it has agreed to acquire the brand name, domain names and intellectual property of Made.com Design Ltd from administrators for consideration of £3.4m.
https://www.londonstockexchange.com/news-article/NXT/acquisition/15708489
You can't start new business without entrepreneurial talent, bureaucrats have a very different function and skillset.
Previous AMGO owner already mentioned what market has been ruined by new standards (waves of lender bankruptcies and closures, those still alive but barely Provident, NSF,MCL, etc., share price collapse there is quite indicative),
recent changes imply that lenders are treated by gov as milking cows (new taxes/budgets, and so on, it won't get any better), risk is clearly outlined/hinted here (link in prev. msg.):
... the regulator was “ready to do more” and was currently “making very clear to lenders the kind of standards that we expect.”
His comments come amid a volley of warning shots from the regulator as it looks to ramp up protection of borrowers as the cost of borrowing soars.
The FCA said last week it had told 32 firms to “improve the way they treat customers” and seven firms had voluntarily agreed to pay £12m in compensation to nearly 60,000 “struggling borrowers”.
A further 40 firms would be under close review in the coming months, the watchdog said...
Current BoD are not entrepreneurs, they're rather bureaucrats to make sure everything goes in line with law and compliance (secondary shadow goal is maximizing paycheck of course).
Since AMGO is startup - any new investment is a high risk, very hard to expect any profitability / return on investment, statistically startups are very close associated with loss, probability of success is very low, especially considering reputational history, close supervision, backlog of claims and stance by FCA (obviously +FOS), the policy set by FCA for lenders will be very strict and forcing, FCA will be more defending customers than taking a pity on lenders.
"Lenders need to ‘step up’ to support customers, says FCA chief"
https://www.cityam.com/lenders-need-to-step-up-to-support-customers-says-fca-chief/
RNS number 0858F on London stock exchange.
you won't see it here because of listing cancellation, it's not updated anymore.