Uncle Doug
07 Mar 2017
Re: New CEO Whilst I agree it would've been nice to have Debbie White in situ a bit earlier than September I guess she has commitments in her role at SOdexo so can't just up sticks right away. I have had a quick look into her past history and it looks like she's had a major influence over the success story at Sodexo over last 8 years or so and I'm happy with the appointment. Markets are negative as we're down 2.5% right now. Anyway, it gives Ringrose a few months to turn things around and the chance to prove he wasn't so bad after all. Looking at the future order book the SP is way oversold at 233p IMO and I think we'll see a bounce back in the following months. I'm in with a big % of my wad for the long haul and expect 400p in 2018.
Omaha man
07 Mar 2017
New CEO Whilst being glad to see that we have a new CEO I am horrified that she isn't going to be in the role until September. That means essentially a completely wasted year as it will be the start of 2018 before she is in any sort of position to put her own stamp on the company.This would be fine if all was well and business was going along healthily, but it isn't. We really need action now to get this company under control.
Uncle Doug
02 Mar 2017
Just doubled up ... ...or averaged down or caught a falling knife. I reckon 12 mths from now SP will be well above these 230s. I was impressed with the webcast. Future order book, plans in place, speed of ditching Waste Projects all looking good, imminent new CEO boost. Anyway, time will tell.400 by end of year.
Uncle Doug
28 Feb 2017
Results Looking forward I think IRV can and will recover and this should be a floor to the SP. Markets not too bad at the moment - the divi axing was already priced in. Oversold.========== ========== ========== ========== ========== "Interserve reported an annual loss and suspended its dividend on Tuesday after the British support services and construction company booked a bigger-than-expected charge on its exit from the energy-from-waste sector.Interserve fell to a pretax loss of 94.1 million pounds ($117 million) for the year ended Dec 31 from a profit of 79.5 million a year earlier.Last week, it more than doubled an expected charge associated with the exit to about 160 million pounds after reviewing operational developments at the unit, but some analysts doubted the increased charge would be enough.Interserve announced it would exit the energy-from-waste business in August, after noting cost overruns and delays in the Glasgow contract.The company has also been drumming up business for its support services division as construction in the UK has been hurt by supply chain failures and pricing pressure.However, on Tuesday Interserve said it was focused on reshaping its UK construction business, as performance there was disappointing.It said annual revenue was largely flat at 3.2 billion pounds, as growth in its international businesses was offset by a modest decline in its UK support services unit due to delays in government procurement because of 2015 general elections and uncertainties over Britain's exit from the European Union.A number of British support services companies have been hit by Brexit worries, which has caused delays to contract decisions and forced some to warn on profits. Data out this month indicated that business investment fell in the fourth quarter compared with the July-September period.Interserve proposed no final dividend, meaning that its 2016 dividend fell to 8.1 pence from 24.3 pence a year earlier."The board has a medium term objective to reduce our overall indebtedness and enhance liquidity levels further whilst continuing to invest in our core businesses. We have therefore taken the difficult decision to suspend the dividend temporarily," Chief Executive Adrian Ringrose said in statement.========== ========== ========== ========== ========
Finners01
23 Feb 2017
Re: Formal announcement..? Fair comment... I just hope there's no 'smoke and mirrors' around the true situation and we get an honest and open appraisal.
musker ron
23 Feb 2017
Re: Formal announcement..? The final results are due next week (28th Feb). You'll get your formal announcement th
Omaha man
23 Feb 2017
Re: Formal announcement..? There was a trading statement on 11 Jan and then the announcement regarding the EfW debacle. I don't see what further 'formal statement' you are seeking?
Finners01
23 Feb 2017
Formal announcement..? Lots of speculation on the future of the company.... many disgruntled small investors venting their spleen over the sp fall.... lots of rubbish to be honest!!I think it time for a formal announcement from the company to give share holders the longer term view and to stop the panic that seems to be around at the moment..!! My view..? We are still busy on good contracts with decent margins. To pay for the litigation against us, the dividend will have to be sacrificed. For how long..? It depends on the final figures. I don't think that the company is going to the wall, but the underlying business is strong and in time it will recover.Comments....?
tejo
22 Feb 2017
Sack the lot This is mismanagement on a grand scale. The whole board should be sacked and competent people recruited to sort out the mess, before it gets even worse.imho..
strapuk
21 Feb 2017
Re: Some analysts, however, doubted even the... Yes too true - Some analysts, however, doubted even the £160 million charge was enough.‘We can have no confidence the provision is adequate,’ Liberum analysts told their clients.
idontwanttolose
20 Feb 2017
Some analysts, however, doubted even the £160 million charge was enough The last paragraph could be VERY pertinentInterserve says its failed energy-from-waste business will cost the company far more than expected.The support services group will need around £160 million to get out of the incinerator business, having been sacked from a key Glasgow project.That is twice as much as the firm thought it would cost in May, with bosses saying part of the problem was a sub-contractor going into administration.Read more: [link] Follow us: @MailOnline on Twitter | DailyMail on FacebookShares crashed 32 per cent, or 107.5p, to 227.75p Interserve was hired by Viridor to help build a £514 million incinerator in Polmadie but was sacked in November after racking up delays and technical problems. It also quit another five waste-to-energy contracts. Its main gasification sub-contractor, Energos, went into administration in July, blaming cash flow problems with contractors.Read more: [link] Follow us: @MailOnline on Twitter | DailyMail on FacebookThe company, whose chief executive Adrian Ringrose makes £563,750, employs around 80,000 people.Ringrose said: ‘Clearly this whole situation and this increased provision is a source of real disappointment to us.’But he said the company was confident it could absorb the impact.Some analysts, however, doubted even the £160 million charge was enough.‘We can have no confidence the provision is adequate,’ Liberum analysts told their clients.
Gooffy
20 Feb 2017
Showing last trade as 270p ??????????????
Uncle Doug
20 Feb 2017
Keep Calm. Nah! Ouch! Sub 200 coming tomorrow.
Gooffy
20 Feb 2017
Will be broken up and sold off Well that is my view.Anyone else think same
Gooffy
20 Feb 2017
Almost as if We have got a bad announcement, right lads get your shorts on and we will give a duff conference call, 5 questions all from brokers. Jobs a good un.32% in a dayThey should all resign as incompetent on that basis alone
