Interserve Share Discussion Threads

[fenners66] 14/9/2017 11:16

From the Interims on the 9-8-17

" Outlook

In the UK, we expect actions taken in the first half, both in construction and support services to lead to a better performance in the second half. In the Middle East, we see the outlook in the region as broadly favourable, notwithstanding the potential impact on general economic activity in the region of continuing political tensions between Qatar and other GCC states. Construction International has made good progress, while the actions we have taken to reduce our cost base in Support Services International has created a smaller but more resilient business. We expect our global Equipment Services business will continue to perform well in the second half of the year. "


So the outlook they announced to day was a complete and utter mystery to them 36 days ago!

Wtf is wrong in UK construction management?

Carillion did not know anything about the £850m write off they did 2 months after the AGM !

Now here they cannot see past next few weeks !

And these people get paid how much??

[losses] 14/9/2017 11:14

Expecting this to be bounce back to 90p soon..

[malcontent] 14/9/2017 11:06

what a complete mess of a way to run a company

[jeffian] 14/9/2017 10:59

The trouble is, the liabilities seem to be completely open-ended so it is hard to see how this can 'bounce' until there is some evidence that they have found a plug to put in the bath. Originally, we were aghast at the £80m provision; doubling it to £160mm was supposed to be a belt-and-braces job to cover all eventualities; now we're told that won't be enough. Where will it end? Until they tell us, what's to support the price?

[the juggler] 14/9/2017 10:55

I reckon it will bottom out at 50p next week. I await some high profile departures now. It is going to take a long time to sort this mess out. I imagine they will exit the UK Construction arm gradually and concentrate on their regional building business which seems from what I have heard and read in various journals over the last year or so to be in a reasonable state. A lot of their other businesses are very top heavy so a rationalisation of senior management is a must or their customers are going to notice that there are less and less people at the coalface particularly in the majority business of facilities management.

[warranty] 14/9/2017 10:52

If you're planning to hold long term then it's irrelevant what the price is tomorrow. Mine will go in the drawer until I see some certainty of a rebound where I may or may not add, depending on circumstances. What I definitely won't be doing is trying to guess the bottom. Been there and been bitten before.

[volsung] 14/9/2017 10:52

There ya go. Nice bounce off 70p

[kirk 6] 14/9/2017 10:51

It does look overdone though

[kirk 6] 14/9/2017 10:51

Glen I thought you said it would bounce to £1 looooool

[sidjameslaugh] 14/9/2017 10:50

So your 'This will bounce' comment 40 minutes ago was just drivel then. Of course it was......

[glenkaz] 14/9/2017 10:47

Sold at small loss will go back in at some point this is nasty 😷

[volsung] 14/9/2017 10:47

I did say 70p didn't I. Could be a bounce from here

[dandanactionman] 14/9/2017 10:45

All imho, dyorI am long this share so hope I am wrong but I don't think this looks like it is going to bounce today.Tomorrow the bad news will be in the press so fears for tomorrow as well.All is finger in the wind but I am starting to agree with 50p estimates!

[jeffian] 14/9/2017 10:23

Ouch! Well the new CEO is certainly kitchen-sinking it, and then some.

The difficulty I have with the Energy from Waste contract is how the losses not only seem to be completely out of control but are also racking up way beyond the size of the contract itself. When we discussed it here before, as a former developer myself, I suggested that the problem may be consequential losses for failing to deliver on time in addition to the 'overage' cost of completing the work itself. The updates are not very forthcoming on what the problem actually is and that in itself is a worry. Tell us what's going on!

[blueball] 14/9/2017 10:14

New target 50p by xmas.

[glenkaz] 14/9/2017 10:10

Yes very good what's you view on 80p then🤔

[walbrock82] 14/9/2017 10:03

My fears have come true for Interserve. Anyone who has read my post knows I said hold off from investing for the next six months.

My segment analysis post did mark down the market equity of Interserve from £480m to £159.6m, citing weakness from its support services. The link is here: where I did a breakdown on all of Interserve’s divisions looking at the pros and cons.

In my main post, I try comparing it with Carillion by using fundamental analysis but did point out that their current share price of £2 (at the time) was holding up because of the current stock market levels. The link is here:

[cerrito] 14/9/2017 09:34

Been having a look at the background of the Chairman Glyn Barker;I have often wondered how all of this would have developed if Blackwell had still been around as Chairman. He is on the board of Aviva and Berkeley.
He is ex PWC and dos not appear to have much operational experience. The following are his skills and too bad he was not more forensic
Qute
He has a deep understanding of accounting and regulatory issues, together with comprehensive transactional and financial services experience.
Unquote

[glenkaz] 14/9/2017 09:15

👮ello ello rackers your knackered! And arresting you for spreading fear! This will bounce imo today £! Gla soz for lth's how rude forgot to say earlier! 🤡✌A039;

[rackers1] 14/9/2017 09:06

Exactly Haywards.Police need to be involved.

[haywards26] 14/9/2017 09:05

Another case of management/bod misleading and lying to shareholders. The rules need tightening to stop this happening. Such perpetrators should not be receiving their fat pay offs when such deception is present.

[bookbroker] 14/9/2017 09:04

Goin down the tubes, this companies debt will overwhelm the underlying business!