Carillion Share Discussion Threads

[wipo1] 22/11/2017 11:51

Carillion, Cooking the books for years, selling £20 notes for £18, not paying it's bills, writing off money,debt mountain, pension deficit, oh have I missed anything? What's not to like lol

[wallywoo] 22/11/2017 08:52

dealy - why would they not. The banks own this business now, not shareholders.

They will keep it going so that when it goes into administration they can maximise their returns. In most cases it is a myth that banks do poorly when a company goes under.

[deanroberthunt] 22/11/2017 07:41

it is Dealy, you just haven't accepted it yet, you're still in the denial phase

[dealy] 22/11/2017 07:29

If the outlook was so dire there is no way they would have been advanced an additional 100m in September.

[marles] 21/11/2017 21:32

I used to work for Amey 15 years ago and they were similar.Won loads of contracts which were priced too cheaply and booked revenue very quickly on big contracts. Delayed paying subbies and suppliers to try and keep cash flow positive.Diffcult to get a good snapshot of the accounts because of all the spin on big contracts wins. Contracts often went wrong and lost money but endless financing and new contract wins and acquisitions/partnerships muddied the waters and kept lots of plates spinning...until they all came crashing down due to running out of cash.Evil Knievil the short seller sussed them out though. Shareholders need to get out really. Banking covenants will be broken by December but banks will look the other way for a while.Technically the company is probably already insolvent and in breach of covenants and shareholders are getting a lucky break to get out now at 20p as they are always at the back of the queue in proceedings.Maybe another contractor might do well out of this by taking over some of the contracts eg rail.

[r ball] 21/11/2017 21:13

Sued for what exactly? As always. Never catch a falling knife.

[dealy] 21/11/2017 19:08

I agree about rounding up lots if former managers and board members here. Total disgrace. Auditors should also be sued

[pyueck] 21/11/2017 18:20

Yes I re-Read the 2016 accounts again yesterday, let’s not forget only issued about 6 months ago. How they didn’t know of some of the issues (cash collection a prime example) at that time is beyond me. Somebody needs to be held to account.

I also do slightly blame that they didn’t do a rights issue earlier, could have avoided the mess now

[excell1] 21/11/2017 18:14

I couldn't agree more with that last post. Something is rotten to the core here and the shameful thing here is that no one seems to be doing anything about it.

[johnjones4] 21/11/2017 17:45

The news I want to hear about Carillion is that the Serious Fraud Office is investigating the directors and the auditors. After all, this is a business that booked a £130m profit in 2015 and a £140m profit in 2016 yet had to confess to a more than £1bn loss in just six months from March 2017, all because apparently profitable activities as described in those two preceding sets of accounts were actually loss-making to a disastrous extent. This isn’t a small rounding error we’re talking about. It’s a colossal change in the company’s stated financial position and on such a scale that deliberate mis-reporting in 2015 and 2016 as opposed to simple human error or incompetence has to be considered a possibility. Enron and Worldcomm went through similarly drastic accounting revisions that turned out to have been rooted in fraudulent attempts to cover up the truth. Given how much they’ve trousered by taking personal credit for the good times, I want to see the men in expensive suits facing a proper independent investigation into their oversight of Carillion in the past two or three years.

[citycanary] 21/11/2017 16:24

IMHO If you're still in and desperate then your best chance is to sell NOW and hope for a dead cat bounce @ the 10p mark and (very risky) to then buy and sell to reduce your losses. Otherwise just sell and move on as suspension is probably just a matter of days away. DYOR and GL to those who need it.

[sux_2bu] 21/11/2017 16:04

1 pence coming.

[zcaprd7] 21/11/2017 15:32

Yes wallywoo, also interesting, is the initial price set by the "crash" of each warning, normally finds the right price eventually...

[zcaprd7] 21/11/2017 15:30

Still lurking, waiting for 10p, for a long and painful recovery...

[wallywoo] 21/11/2017 15:30

I must say it has been an interesting study for me on the phycology and charting of investing:

1) The £2 resistance barrier broke, which dated and held during the 2009 credit crunch and I sold (I had no idea why it broke, just traded the chart).

2) The share price carried on falling, and I went short (based on the chart a massive influx of short positions. Not a big position, it just interested me why this was falling and shorted so much.

3) The share price crashed down to 50p then dead cat bounced for a while, before clearly demonstrated a "Pennant flag" trend continuation pattern at 42p

4) Crashed again and here we are at 20p. Very few believers left

Great example of the Price action showing you what is likely to happen in the future IMO. It is now resigned to penny shares and it is anybody's guess where now. I suspect there will be nothing for Ord share holders in 12 months, or next to nothing

[rcturner2] 21/11/2017 13:50

The bulls finally seem to have quit this thread.

[sparky333] 21/11/2017 10:40

Retest of the 16.5 low

[mally6] 21/11/2017 10:10

Dean man made effort on metal made it fly but he forgot himself and sunk in the groundHope u make up ur losses doesnt look likely here another connaught

[deanroberthunt] 21/11/2017 09:18

I don't care if you live or die...

[deanroberthunt] 21/11/2017 09:15

I wish I could just press a button and the whole Earth implodes in a nanosecond