Eaga Share Discussion Threads

[simon gordon] 14/5/2009 13:26

It looks like the Founder's departure has taken the wind out of the sails. I hope he recovers his health, he built Eaga from nothing.

[5dally] 26/4/2009 10:49

I like the last paragraph


Extension to Warm Front Contract (Eaga)





TIDMEAGA

RNS Number : 0612R
Eaga plc
23 April 2009

?
23 April 2009
eaga plc ("eaga" or "the Group")


Extension to Warm Front Contract


eaga plc (EAGA.L), a 'Green' Support Services Company and the UK's leading
provider of residential energy efficiency solutions, is pleased to announce that
it has reached agreement, subject to contract, with the Government on an
extension to the contract to deliver the Warm Front Scheme to 31 March 2011,
which is the end of the current Government spending period. There is provision
for a further extension of up to two years beyond that point.


As part of negotiations, a number of structural changes to the Scheme have been
agreed, which will drive improvements for customers and provide greater value
for money across the supply chain. eaga does not expect that these structural
changes will materially alter its financial performance in delivering the Scheme
over the extended period of the contract.


The contract extension and changes to the Scheme are welcomed as they help to
provide greater visibility for the Group and will ensure that eaga can continue
to deliver high levels of customer satisfaction.


Further to the Interim Management Statement of 16 April, the Board continues to
retain its confidence in the outlook for the remainder of the financial year.

[euphoric dream] 24/4/2009 00:12

From

Following a review of the contract with eaga, the Warm Front Scheme Manager, a number of alterations have been agreed which will open the Scheme up to greater competition to provide best value for money.

[5dally] 16/4/2009 07:31

Charles Berry, Chairman, commented:




"We are pleased to report that we have continued to make good progress in the financial year and the business remains on track to meet our expectations. The Group's balance sheet remains debt free, and the recent agreement on extended and enlarged banking facilities has further strengthened our financial position. The Board is encouraged by the Group's performance over the period and retains confidence in the outlook over the remainder of the financial year."

That's good enough for me :-)

[simon gordon] 14/2/2009 13:00

More bad press:

'Warm Front, the Government's flagship fuel poverty scheme, has come under attack for squandering public money, with contractors accused of charging high prices for poor standards of workmanship.

Times Money has been inundated with complaints about the scheme, which gives grants of up to £2,700 to make the most vulnerable households energy-efficient. Readers have reported paying more than £3,000 in top-up fees - required when the cost exceeds the maximum grant - for boilers that do not work.'

[5dally] 11/2/2009 13:45

sp doing well recently:-)


FloodSax deal
Green support services provider eaga has today announced it has been granted sole distribution rights for an innovative product designed to help thousands of at risk households shore up their flood defences.

Designed to be compact, lightweight and easily stored in the house, FloodSax are the brainchild of Richard Bailey, of Environmental Defence Systems Limited.

They are about the size of a small pillow but can hold up to 22 litres of water. By having them stored in the house they can be deployed at very short notice to block the water coming through the front and back doors or from burst pipes.

And unlike sandbags, which can be heavy and difficult to move, they are ideal for the elderly or frail who can use them in an emergency. They can also be stored for up to five years, which is considerably longer than sandbags, which start to break down and become useless after just a few months.

According to the Environment Agency there are an estimated 1.7 million homes in England and Wales in so-called flood risk areas.

Having an alternative to cumbersome sand bags could be especially useful for organisations such as local authorities, the emergency services, businesses in at risk areas and insurance companies.

In 2007 more than 23,000 homes suffered flooding, with insurance claim values of between £18,000 and £40,000. The average building and contents insurance excess is £250 - around twice as much as a box of 20 FloodSax.

Ashley Guise, eaga Group Development Director, said: "Climate change means extreme weather conditions are becoming far more frequent, so we must do all we can to give individual households extra resilience to protect themselves. These FloodSax can do just that. They have already proven their worth as a vital first line of defence for households hit by floods last summer. Easy storage also means they can be deployed at short notice in other household emergencies such as burst pipes, by soaking up surface water and preventing leaks spreading."

"To be given the sole distribution rights is therefore excellent news for eaga as we continue to diversify around our core skills and expand our product and service offering. Whether it's installing or maintaining heating systems for Government, local authorities or housing associations, delivering household energy efficiencies on behalf of the big energy suppliers, or helping with flood resistance schemes, we are ideally placed to provide a raft of home improvement programmes right across the UK."

Headquartered in Newcastle, eaga has more than 4,500 employees based throughout the UK and from operations in Ireland, India and Canada.

[simon gordon] 30/1/2009 10:31

Eaga have been getting bad press for at least a year. They have been in the Mirror and some MPs have demanded investigations. Eaga have very strong lobbying links with the government and local Labour MPs back them.

[tuffbet] 30/1/2009 10:24

5dally

I didn't say Eaga denied anything just made a general observation about what tends to happen in similar situations. I have seen it so often before - treating customers badly is a very very big negative as we move into an environment when competition is going to increase massively.

Only the efficient( with deep pockets) will survive - a large number of companies are I believe going to find out that you get a way with a lot during a bubble but just the opposite applies once everyone is looking after the pennies.

Getting on to the One Show once for this type of thing is bad enough but to be on a second time and looking like heading for future exposure is pretty serious in my book.

Anyway just an opinion based on long experience of these things , I hope I am wrong and things are cleared up quickly to everyone's satisfaction but I am not hanging around in these unforgiving markets to find out.

[5dally] 30/1/2009 09:35

apparent scandal which is of course denied.

Not denied at all from where I was sitting, indeed Joan Ruddock was full on in tackeling the problem,,,,which I feel she will remedy quickly all IMO of course

[tuffbet] 30/1/2009 09:29

sorry pressed the wrong button.

cont'd

BBC's iPlayer to have a look at last nights show and then draw there own conclusions , better still write to the company and ask for an explanation.

Won't be at all surprised if the share holder register begins to show a few blank spaces as any institutional investors take fright.

Just my humble opinion, DYOR but I don't want to be long of a company which has this type of monkey on it's back there are enough other problems out there right now.

[tuffbet] 30/1/2009 09:24

@hudd01

"Disturbing" is I think an understatement. I saw the One Show and as they said they have their teeth into this one and have no intention of letting go. I wouldn't touch this with a barge pole now and quite frankly if it all eventually goes belly up for Eaga at some future point anyone who knew this was going on and stayed with the shares gets what they deserve as far as I am concerned.

If you look at the history of companies which eventually enter a death spiral it often starts with news of some apparent scandal which is of course denied.

Everyone should of course make up there own mind but I think the least any shareholder should do is use the

[huddo1] 29/1/2009 19:17

The 'One Show' this evening run a disturbing segment on the Warm Front Scheme which they claim to be in need of serious tweeking. Joan Ruddock apparently intends to look into the issues and she is willing to receive, what the 'One Show' claims to be 100s of complaints etc.

Still the upside was a good bit of advertising for the scheme and of course Eaga.

[cyberbub] 29/1/2009 12:30

Good H1 report, however if EPS is likely to be 12p for the full year then I think that an share price of 145p looks fairly fully-valued in these markets, especially with a small 2%-ish yield. DYOR

[lpf] 13/1/2009 15:56

The over-70s things was always a bit odd - all the other grants had some kind of means testing, whereas anyone over 70 was classified as vulnerable, regardless of how much dosh they had.


As for total cash available to EAGA, which is surely the key issue here, then the PBR announced an extra £100m.

[romi2nikki1] 13/1/2009 11:39

tanners ( on the SHI thread), claims to have spoken to someone at Warmfront. Anyway the net message is that all free insulation work to over 70s as been pulled. Probably just temporary, but.

[huddo1] 02/1/2009 10:38

Mmmm. I wonder. The next financial albeit quarterly or half yearly might fill a few blanks possibly highlighting changes in margins and material costs etc but there's no question this has done well since its 102p low.
Unfortunately the last time I put my hard earnings in a company with government incentives I got burned (Carter and Carter).

[peladon] 30/12/2008 15:25

I wonder how they feel now.

[masurenguy] 26/11/2008 19:21

Two directors sold 2.2m shares @ 110p yesterday !

[euphoric dream] 18/10/2008 17:11

I believe CNA and EAGA are going to fight for SPGH. One of them will take it out at 50p.

Both have recently shown appetite for acquisitions.

[gerry321] 13/10/2008 16:56

Agreed
There is no way the gov will cut back on their enrgy saving commitments in the face of a recession and an election in 2010 latest
Possibly funds strapped for cash are selling out or even employees selling, fearful of the credit crunch

[cyberbub] 13/10/2008 13:45

I wonder why this is still down? Perhaps investors are thinking that the Govt is going to be hard strapped for cash to spend on such programmes in coming years now? I would have thought though that if they were going to spend on anything it would be energy efficiency and similar green matters.

[gerry321] 24/9/2008 23:04

Why all the share price gyrations when EAGA with its cash pile and forward orders ought to be a safe haven in todays volatile markets ?

[peladon] 19/9/2008 15:53

Right at the very end of the week :-)

[crickley] 14/9/2008 13:07

The Telegraph seems to have picked up on the potential for the government announcement by tipping SIG today:

"Whether Gordon Brown's energy relaunch is any good for energy consumers is anyone's guess. All the signs are that the PM's plans to raise £910m from the energy companies to help fund carbon emission reductions programmes will simply lead to higher energy bills.

Yet what is clear is that certain companies stand to benefit from this extra pot of cash. SIG is one of them."



EAGA is clearly another beneficiary so there may be a pickup next week as investors begin to cotton on to the renewed potential.