Ffs, and there was me waiting for all the muppets to sell at 1 quid and me to Hoover them up. Looks like hrnet have been buying. Well atleast I brought 20k. Will wait for any further drops to pick up more
Benny I agree with you, the media seem to be extremely negative on metro. This is clearly unwarranted, though I expect management to turn around the business in the medium term. Even atom bank is struggling, so you can’t really blame management for poor results.
Look at the margins it makes and the customers Asos mainly caters to. 18-30 yo women are the worst customers to have. No brand loyalty, 50%+ returns, and that is not cheap to process. Internet businesses have low barriers to entry.
Every time I look at this things balance sheet my head spins. How the heck did the banks allow this once great company to borrow such an unsustainable amount of money? The Free cashflow from ops may be great but it all goes straight out the door to the bankers. By the time the bank loans are paid off our grand children will all be driven around in flying cars.
RE: Debt 4 Equity and why it won't work13 Jul 2019 15:40
The Vimeo video is absolutely shocking. Talking about shareholders taking a bitter pill and paying 1.2bn in interest costs over 5 years. No wonder the banks were continually dolling them money. I hope the bond holders take a bath, and the two clowns in the video get the boot.