Interserve Share Discussion Threads

[jeffian] 20/2/2017 10:06

#3913,

Exactly what I felt when I read it. One assumes that when the problem was first spotted, they would have 'kitchen-sinked' that £70m figure and yet they were out by 2.3x with no certainty that they've got it covered yet. Ugghhh!

[ny boy] 20/2/2017 09:39

What a terrrble rns, not in these but feel for those in higher up.

[pugugly] 20/2/2017 09:37

WINDOW748 - Agree with your points on the conf call - What I took out of it - and a big worry so I will not be jumping in - is that the figures are a "best estimate [guess ??]. I am also concerned about the fact they were sure the technology works and that they have picked up the sub-contractors (did you get the same message ?) However Europe appears littered with prijects of this type that have not met their objectives and - so far as I can see - there is little clarity on the terms of their ongoing contracts in this area.

[edmundshaw] 20/2/2017 09:29

What is most disappointing for me is that the previous assessment of £70m has proven to be so wrong. They apparently reviewed all the risks and losses then, what changed in the meantime? How can we be expected to trust the current assessment?

[window784] 20/2/2017 09:14

Just listened to the confra-call. They were asked several times re the dividend without success. This will be announced with results on 28 Feb. They did clarify that the new borrowing was done on the same basis as previous borrowing but declined to say if this contained any clauses on paying divs.
There was no definitive statement that we have now seen the worst just that this is the best assessment they have of the current situation having reviewed all contracts.
I still hold but may sell after next weeks results

[bend1pa] 20/2/2017 09:07

I'm out. (it will probably recover now :-)). But this ls looking increasingly like a hopeless mess. Yet again another lesson in avoiding high yield shares like the plague. Very few of them don't end up in big trouble. Still waiting to see if the Carillion skeleton falls out of the cupboard.

[bookbroker] 20/2/2017 09:06

The fact that net debt has charged upwards as a result of the Glasgow situation, the balance sheet is pretty strong, but the fact that profits are shredded for the medium term, a dividend slash, fundraising to underpin the rest of the WIP. Mean this will go lower!

[haywards26] 20/2/2017 08:58

Very frustrating, my gut instinct had been telling me to take my profits the last few weeks with the uncertainty surrounding the waste contract. Will sit on my holding now and await the new CEO and return to stability..

[bookbroker] 20/2/2017 08:53

And wafer thin margins, and they appear to be getting slimmer!

[tsmith2] 20/2/2017 08:53

Misread calibration on chart. £2.20-ish?

[bookbroker] 20/2/2017 08:52

The problem with this industry, I think that is why facilities management cos. Are rated so lowly, seem to often encounter contract disputes and cost overruns, hence the shorts out at CLLN.!

[tsmith2] 20/2/2017 08:45

Some around 2.5?

[edmundshaw] 20/2/2017 08:25

Quite a big change, from assessing the loss at a year's operating profits, repeating the same mantra in August with a small increase in the dividend, then telling us 6 months on that, oh, the provided loss is about two and a half years' operating profits.

[salpara111] 20/2/2017 08:12

Very disappointing.
I am taking them off my watch list for the time being.

[linton5] 20/2/2017 08:11

Yip I'm wounded,crawling off the battlefield

[edmundshaw] 20/2/2017 08:11

Dividend halved at £3 means a yield of just over 4%, and likely to rise over time with the new CEO. When this fiasco is behind, Interserve should recover well, but that will take a couple of yeqars at least to resolve. Very disappointing and very apparent now why Ringrose had to go.

[spoole5] 20/2/2017 08:06

Sold after the problem was discovered at 3.30. Dividend is next to go.

[r ball] 20/2/2017 08:06

Avoid. First loss is the best loss.

[jamesryan123] 20/2/2017 07:59

hxxp://www.constructionenquirer.com/2017/02/20/interserve-waste-project-blackhole-doubles-to-160m/

[this_is_me] 20/2/2017 07:55

Two year's cash flow to solve the problem is what is being suggested. The court cases will take years so it will not have to be paid immediately. The rest of the company is doing well.

[leadersoffice] 20/2/2017 07:12

Dividend will be cut after this fiasco. Not looking good. Sub £3. Hope I'm wrong. I've been a lover of this share in the past but we are now sailing in more choppy waters.

[linton5] 18/2/2017 11:04

Volga gas ⛽️ rings a bell lol pillion but that was about 5years ago. Atleast were still about many have fell by the wayside in this game of roulette. Check out plus

[pillion] 17/2/2017 23:06

I remember we were in a Russian share together a couple of years back
You got out of them before me too !

[linton5] 17/2/2017 22:20

I bought crest at 487 sold at 542 think I'll buy them back on Monday lol, that was a mistake sold my clln at 221 after 217 buy and bought more pfc. A lot of good divi shares are not performing that well. Strange times with Ftse so high