Compass Share Discussion Threads

[psps] 31/10/2005 14:40

So Capital group have upped their stake to 4.45% ( from 3.3%)

[patricktrfc] 31/10/2005 13:51

In for 5000 on a T25 - had to pay 189.75, but quite happy as have set a sell order for 199.75 and now will just switch off monitor. Should be an easy £500 if ever there was one,

P

[dhb368] 31/10/2005 13:29

Lovely jubbly. Lots of clever money long on these.



Shorters gone quiet?

Over the last couple of weeks I could see the shorters case on a day trading time frame, and indeed have made a couple of pounds doing so, but I just dont see the downside from here and am long via ISA and SB.

[nirag patel] 31/10/2005 08:53

moving in a right direction(probably no more than 250p) eventhough analyst says a bid, unlikely

[psps] 31/10/2005 08:39

really flying now

[gulliverr] 31/10/2005 08:36

£3 minimum. A number of private equity firms are preparing bids. This story has a long way to run and note that the above article is part of the process!!

[halogen] 31/10/2005 08:31

Come on gerry you no you want it !!

[psps] 31/10/2005 08:02

2.20p bid on the way ...is it ?

[5bertie] 30/10/2005 18:05

gulliverr. At least somebody with half a brain on this site, spreadbetting
means looking ahead. If cpg is that bad why are there nearly twice as many
buy punts than sell punts on this thread. Obviously because being long in this
share is better than being short. Gulliverr and I will be sitting pretty in
a few months time and all the sensational reporting in the Sunday Times will be
forgotten and we all be eating fish and chips out of very same newspaper.
Adios and happy spreadbetting to all whether long or short.

[halogen] 30/10/2005 13:24

Happy days on the horizon if you belive what you read in the telegraph i wish..

[nirag patel] 30/10/2005 09:51

telegraph says a bid comes before ceo arrives

[gulliverr] 30/10/2005 08:15

Well-posted. Good article and worth reading carefully. Quote:
"No suggestion of impropriety by Compass or any of its employees has yet been proven. The company is the latest potential casualty of widening inquiries into alleged 'bribes for contracts' at the UN."

[mitzis] 30/10/2005 08:01

More from the Observer:

[gulliverr] 30/10/2005 06:53

Merely proper precautionary action by the Board. Note that the UN investigation is just that and no evidence has yet been presented to substantiate the claims. Several hundred firms or individuals are being investigated as part of the UN's panic over its own failures. Suspension of executives in the line of responsibility is also normal practice, though I see Kofi Annan is not one of them. Have I seen accusations levelled at him?

[brian spaceship2] 30/10/2005 02:28

from the Sunday Times "COMPASS GROUP, the contract caterer, has widened its investigation into claims that it obtained details of rival bids for a multi-million-pound United Nations contract.
Compass chairman Francis Mackay has asked the City law firm brought in to investigate the allegations to look at other deals negotiated by the executives at the centre of the probe........."

They are starting to look at a whole range of contracts beyond just the UN ones. The point I am trying to make is that holders of this share really can have no idea how widespread these problems are. Clearly Compass and its CEO have no idea so I wonder why some on this board are so certain this is just a storm in a teacup. Good luck to all you holders...you may need it.

[gulliverr] 29/10/2005 09:41

Thanks for repeating what I have been saying for a while now. It needs saying that the herd are being panicked for the shorters' benefit. I hope they manage to get out before the upwards surge! Needless to say the big players will be gone by then.

[brian spaceship2] 28/10/2005 20:52

You are assuming this does not spill out into other areas of the business. Peter Harris was in charge of the UK, Middle East and Africa...that covers nearly half of Compass. The question is whether these 'inducements' were a one off relating to only one or two individuals within Compass and a handful of UN contracts or whether this is the tip of a broader 'inducements' iceberg. It is not obvious to me that an investigation of accounts will stop at the ESS division...given that the individuals implicated have been involved in a much wider area of the business over the years.

[dhb368] 28/10/2005 14:06

My guess is that the review of ESS is to look into payments made to 3rd parties (inducements) rather than the profit/loss. An auditor will tell you that it is not their responsibility to detect fraud so maybe this is what they will concentrate on now. ESS is a very small division and anything found will not help sentiment but will have nothing other than a 'reputational' impact on future earnings.

[i maximus] 28/10/2005 14:03

profits opinion. read any auditors report

[psps] 28/10/2005 13:49

dhb368
thanks m8.

what the hell did the Auditors do then ie when they audited
the accounts
i think they should be sued for negligence

[dhb368] 28/10/2005 10:18

Great!!!!!!!!

STOCKWATCH Compass Group slips following press reports of auditor review

LONDON (AFX) - Shares in Compass Group PLC remained under pressure
midmorning after a report in the FT said the cater had called in an independent
auditor to review the accounts of a subsidiary embroiled in investigations into
corrupt buying practices at the UN.
At 9.55 am, shares in Compass Group were 4 pence lower at 176 while the FTSE
100 index was off 10 at 5172.
The newspaper said the company had instructed Ernst & Young to carry out a
thorough review of the accounts of Eurest Support Services (ESS), a subsidiary
which feeds UN peacekeepers in at least eight countries.
In reaction to the report, Societe Generale said that although this should
have no impact on its forecasts, it estimated that the visibility on the
situation at ESS was still very low, with room for additional bad news.
It said that as a consequence it was putting the stock under review pending
additional details on the ESS accounts.

[dhb368] 28/10/2005 09:47

psps:

Franklin Holdings

26 Oct 2005 312,019,873
28 Sep 2005 346,737,175
(34,717,302)