OmniChart

AMFW II Editor 05 Nov 2015

NEW ARTICLE: Dividend warning! "LSE:AMFW:Amec's decision to buy Foster Wheeler for $3.2 billion (Â£2.1 billion) last year failed to generate much enthusiasm among investors. The share price did rise when the oil services engineer flagged up the acquisition, but soon after ..."[link]

GBO holycustard 05 Nov 2015

Re: Class Action Remove the word 'getting' from my post below. (Incompetent fool that I am)

GBO holycustard 05 Nov 2015

Re: Class Action I too have signed up. Many thanks gallant02 for getting sorting all thisCheersHC

MCO out-there 05 Nov 2015

Re: sold my holding did you read the narrative on country wide? They are a different beast to MCO.rental market bouyant and growing which was highlighted in both countrywide and mco reports. Also mco has a totally different business model to countrywide.talk about throwing the baby out with the bathwater.I wouldnt sell this fast growing rental franchise based business.

GBO Gerald99 05 Nov 2015

Re: Class Action Thanks Gallant I have registered with Sharesco

AMFW dazedandconfused 05 Nov 2015

Re: Sell off!! I doubt it - in fact, have just re-bought the 50% of my SIPP holding that i'd sold on Monday seeing as they're down 20% on that day's price. Didn't see the Foster Wheeler purchase as beneficial, but the rest of the 'original' business seems to motor along steadily enough.

ORCP Tempestas 05 Nov 2015

News. News getting better and better.

SGP oldjoe1 05 Nov 2015

SGP, BREAKOUT On Chart........... SGP SupergroupBreakout on the chart, next results mid December, things looking very Bullish. [link]

SGP oldjoe1 05 Nov 2015

Re: SUPER GROUP, FULL NOTE................. "The shares are trading on a cal 15E PER of 23.0x, falling to 19.5x for cal 16E. Thecorresponding EV/EBITDA ratios are 11.4x and 9.8x. Our recently increased and Quest®based TP of 1847p is unchanged."

SGP oldjoe1 05 Nov 2015

SUPER GROUP, FULL NOTE................. SGP Supergroup Full Note as promised earlier, looks very Bullish. Look at the target price at the end of the note 1847pCanaccord note<b><i>SuperGroup has delivered a strong H1 trading performance, with group sales up 22.4%over the period to £254.9m, ahead of our range estimate of £248m - £252m (+18%to +21%). This was driven by the Retail division, where total sales rose by 30.9% to£172.2m. The LFL component came in at +17.2% (CGe: +12% - +15%), breaking downas +19.3% in Q1 and +15.5% for Q2. E-commerce performance was highlighted as adriver, but was not quantified. We assume the strong momentum of H2's e-commercegrowth has continued throughout H1, before anniversarying in Q3.The non-LFL contribution of 13.7% was driven by a 21% year-on-year increase in ownedretail space. This included the US stores acquired earlier this year when the US licencewas purchased. Some 14 stores opened in H1, of which 11 were outside the UK andRepublic of Ireland, adding some 63K sq.ft. from the year end, and therefore on track forthe FY guidance of 120K to 130K sq.ft.Wholesale saw an 8% increase in sterling growth, despite the adverse impact of aweakening euro. This also includes some contribution, which we estimate at around 2%,from the North American business.The H1 gross margin performance will be above the group's full year guidance (range flatto +30bps). This is principally mix driven, due to the higher growth of higher margin retail,although these gains have been partially offset by adverse currency movements.Net cash stood at £80m at the period end, compared with £67m last year.The company has also appointed Nick Tatum (from Tesco) as Global Retail Director, withresponsibility for retail operations and logistics.The better than forecast H1 sales growth has led us to increase our FY16 PBT forecast by£2m (3%) to £71m. This is notwithstanding the much tougher sales comparative in H2,including the key Christmas period, a likely management bonus (not paid last year) anda slightly slower trajectory on the US recovery plan. These increases roll through into ourouter year forecasts as well.We now forecast H1 PBT of £19.0m, up 52% on last year's £12.5m, compared with the£17.5m - £18.5m range indicated in our note earlier this week - "Everywhere you turn isopportunity".The shares are trading on a cal 15E PER of 23.0x, falling to 19.5x for cal 16E. Thecorresponding EV/EBITDA ratios are 11.4x and 9.8x. Our recently increased and Quest®based TP of 1847p is unchanged.</i></b>

AMFW dazedandconfused 05 Nov 2015

Re: Dividend cut Yes, it is rather odd that, on the same day, they posted about good buys on Divis at 3 firms:In my view Amec's dividend could become increasingly hard to afford unless market conditions improve in the oil and gas sector. I think there are better buys elsewhere.

QPP eagle51 05 Nov 2015

Re: Meanwhile Crikey - I didn't expect to stop play. I was just letting off steam - the 10p reduced pay-out trod on a corn because I suspect they were never going to pay out anything close to £500m. What would be the point in committing to maybe leaving things tight? "Done up like a kipper" is the term and I don't enjoy that. I've written them off as people to trust. The alternative is they're too timid (but enjoy taking the money). I hope Plan A is to get the remaining businesses in as good a shape as possible and flog them to the highest bidders ASAP. The reality is that the brand has probably been so badly damaged that QPP or whatever it's going to be called (PPQ?) would be forever tarnished by the muck people like OG and TX2 continually dredge up to damage people like us (because they're types like that) and it would always be a struggle to make progress in a competitive field, where others don't have a millstone around their neck. Plan A would get the best returns in the shortest time, then everyone could get on with their lives and Rose et al could go spend their millions in fancy foreign places.I guess they'll tell us what's happening one day. Maybe.Qs for Mel:1. In SGH's June 2015 accounts, employee numbers were said to have grown 3x vs the previous year end (total 5350; 1400 Aus & 3950 UK). Most of the UK is PSD.2. SGH's revenues (11/12ths of it pre-PSD acq) in the year to 30/6/15 was £291m3. Edison (who imo aren't very bright) say revenues for 2016 will be £590m4 Given SGH (and PSD - now called SGS) are said to be a professional services businesses, why wouldn't revenue broadly be expected to treble (not double) if there are 3 times as many 'professionals'?No-one could have foreseen what happened to SGH's share price after the PSD deal was struck - but what happened, happened and directors of all companies have to react to actual circumstances. This silly pay-out of what is now £415m - maybe - was probably intended to make sure QPP's shareholders voted for the PSD sale (it wasn't needed - it would have gone through anyway) but it showed that the new team was bereft of ideas of what to do with the money. After all they'd been through perhaps one shouldn't be too critical of them here.However, things are now different and directors show their true colours by reacting to opportunities and taking bold and decisive action where it might may dividends. I don't like SGH because it has gearing of 43% (in reality it's higher because I don't like what they measure borrowings against) and companies that are cash strapped (in SGH's case because it's on tight repayment schedules) rarely perform to their full potential. There's also a lot more risk. Other than that, SGH look to have a smart team in place and seem to know what they're doing and have ambitious plans for the future. The share price fall has probably been overcooked.In a nutshell, if someone had said to me last week (or indeed this morning): "how about an all paper offer from SGH at 125p a share", I'd have bitten their hand off. Why 125p (value offered in SGH shares at A$2.40)? Because that's my conservative estimate of the value of cash in QPP at present). Yes, SGH's shareholders suffer dilution, but borrowings are gone in a flash, they get the escrow account, all the proceeds from the industrial deafness claims, the proceeds of sale of the remaining bits of QPP they don't want - and they can defend themselves against the t.wats at 'Your Downmarket Friend'. SGH's share price flies and everyone's happy. QPP has finally gone and the City and a lot of others get their wish.I'm now officially as mad as you, Mel.

RCDO II Editor 05 Nov 2015

NEW ARTICLE: Ricardo AGM: Something to applaud "Itâ€™s not often a shareholder stands at the end of an annual general meeting, thanks the board and the companyâ€™s staff, and leads other shareholders in a round of applause. But thatâ€™s what happened in the Diamond Room of Investec Bank ..."[link]

SGP oldjoe1 05 Nov 2015

Re: SGP, The Climb Continues........ "In addition, Supergroup reported higher than expected gross margins for the first half of the year due to strong high margin retail sales. And, with its bottom line due to rise by 12% in the current year and by a further 17% next year, its PEG ratio of 1.1 indicates that now could be a good time to buy a slice of it".

SGP oldjoe1 05 Nov 2015

SGP, The Climb Continues........ SGP SuperGroupComment from the TMF..................Also releasing an update today is fashion brand Supergroup (LSE: SGP). Its sales for the first half of the year increased by 22% versus the same period last year, with the company recording strong growth from both its retail and wholesale operations. The opening of 14 new stores during the period is further evidence that the company has clear expansion potential as it seeks to develop a true lifestyle brand, with its focus on improving infrastructure and on developing new and innovative product lines appearing to offer a clear path to long term growth.In addition, Supergroup reported higher than expected gross margins for the first half of the year due to strong high margin retail sales. And, with its bottom line due to rise by 12% in the current year and by a further 17% next year, its PEG ratio of 1.1 indicates that now could be a good time to buy a slice of it.[link]