Interserve Share Discussion Threads

[ebomber] 25/10/2017 13:44

Makes Carillion look a real bargain. Happen to have modest holding in both.

[eodfire] 25/10/2017 13:31

The time to buy is when a good company is in temporary trouble.

[eodfire] 25/10/2017 13:30

Very positive cfc1. Buy when others are fearful.

[cfc1] 25/10/2017 13:26

e-Bomber...thats a BIG BIG piece of news for me. ANd I BET they have knowledge of whats going on in INterserve

[cfc1] 25/10/2017 13:20

thats it for me!! Deutsche Bank build a 5% stake in Interserve....now why would they be doing that Jeffian and fenners666...look forward your comments now!!!!!!!!!!!!!

[ebomber] 25/10/2017 13:18

Deutsche Bank just added!!

Added just over 2.00%

[cfc1] 25/10/2017 13:17

Deutsche Bank just added!!

[cfc1] 25/10/2017 12:12

listen fenners - you have NOTHING to say that is any use! So same question to you.
I can imagine you are a person that can only criticise everyone and adds NO value or useful comment to anything!!
btw - I think Jeffian can 'speak' for himself!

[fenners66] 25/10/2017 12:03

He made no mention of Connaught

[cfc1] 25/10/2017 11:57

ok Jeffian... so you think its going bust like Connaught then?

[jeffian] 25/10/2017 10:34

cfc1,

The 'fact' is that IRV has made huge losses on its EfW contract, from which it has now been fired and, therefore, is no longer in control of the outcome nor able to definitively assess the consequential losses; it has weaknesses in Support Services and Construction and it has a "realistic prospect" of breaching its banking covenants. It is not "wild speculation" that any terms agreed with their bankers in that event will be more onerous than their current arrangements; it's just the way these things work (as I know from the experience of my "rubbish" career!). Coincidentally, there is a very good example today of exactly what I said in #5623 in the reports of the banks' response to Carillion's problems as the Times says "The new facilities and agreements come at a cost, with the company agreeing to pay between 8% and 12% over the Libor rate on the eventual repayments". Ouch!

As for your list, IRV doesn't have a problem with revenues, it has a problem with profits. There is a difference, you know!

Finally, it is not a condition of the bulletin board that you need to own shares in the companies on which you post comments. It's just a chatroom, for goodness' sake!

[losses] 25/10/2017 07:04

Coltrane has increased share

[fenners66] 24/10/2017 22:54

I have been trying to deduce why there are such slim margins in construction and service contracts as evidenced by the margins at CLLN and IRV .

What industry environment has changed with these multi-billion turnover companies?

In 2011 the industry was investigated by the Office of Fair Trading (OFT)

As a result at least these companies were fined (there were others , not tracked down all the articles yet)

"fines imposed against a further six undertakings (Tomlinson, Sol, Seddon, Interclass, Apollo and Galliford Try)"

what was it all about ? Bid rigging.

Have those companies involved now cleaned up their act and are making it a more competitive market for all?

[cfc1] 24/10/2017 21:15

Fenners666 what exactly are your points?!?!?
Facts
1) only ONE institutional investor - artemis has sold 10M and every seller needs a buyer
2) goldmans have reduced to 10% from 12.5
3) one major institution has increased its stake to 24.5%
4) brokers range value of share price from 68 to 150
5) BIG deals are being one every month - order book now at 7.4B
6) we KNOW massive prison deals will be bid for in 2018
7) more deals are in the pipeline in addition to the current order book
8) briefings state restructure and cost cutting
THESE ARE FACTS

NOW fenners 666 and jeffian...WHAT EXACTLY are your facts...all we here is your speculation or criticism and rubbish about your property investing LOL

[fenners66] 24/10/2017 21:00

Can you possibly stick to the point of the thread - so you arguing about the due diligence or what ?

[losses] 24/10/2017 20:51

Another contractINTERSERVE SECURES PRESTIGIOUS LEGAL ACCOUNTby Interserve Press Office | Oct 24, 2017Irwin Mitchell Interserve ContractInterserve, the international support services and construction group, has won a four-year contract to provide integrated facilities management services to leading law firm, Irwin Mitchell.

[glenkaz] 24/10/2017 20:40

🤡🖕

[jeffian] 24/10/2017 20:06

It amuses me that people feel the need to 'thumb down' anything they don't like or disagree with. It's just a financial 'chatroom' after all! Surely the point is to have a discussion, much as you would in the pub. If you don't like it, ignore it, or filter it, but I find that those who aren't prepared to consider anything that doesn't agree with their own view are the first to complain when it all goes wrong.

[fenners66] 24/10/2017 19:29

jeffian - sounds like you managed your business with some intelligence and acumen, appreciating that despite your best endeavours there could always be a risk. It seems logical to assume you were successful.

If the highly paid executives here at IRV and also at CLLN cannot manage that level - then the opposite assumption is proving to be true.

cfc - you arguing about the meaning of due diligence ?

[jeffian] 24/10/2017 19:07

I'm afraid it doesn't work like that, cfc1. Banks don't roll over and say, 'hey, we've got no option; give 'em the money'. They tighten credit terms, impose restrictions, make charges etc etc. Yes, they may keep the company alive, but only to the extent that they can claw back what's due to them and they're not interested in leaving anything for shareholders.

I am not saying that will happen, but some of it almost certainly will because IRV themselves say there is a "realistic prospect" of breaching banking covenants and that will definitely trigger more onerous terms or a requirement by the banks that they shore up the balance sheet with a share issue or similar. The problem, and the reason why I sold, is that until the EfW debacle is resolved, neither IRV nor anybody else is sure of the size of the black hole and whether it has stopped growing.

When I was a property developer, we used to finance each scheme on a 'non-recourse' basis (i.e. the banks lent on the security of that particular site but didn't have recourse to the parent company if it went pear-shaped). With hindsight, what a pity that IRV didn't put its disparate and different entities into separate 'ring-fenced' companies which could have been allowed to go to the wall without bringing down the whole pack of cards.

[hootza616] 24/10/2017 15:18

Mmmm, not sure he has called it right, and from his other investment advice he has certainly made some errors!
Like CLLN I beleive theres a couple of Dead Cat Bounces to come yet.
And can we take anyone seriously if the only links on the website are to dating agencies or the Brexit Severence Cheque Scam?

[dandanactionman] 24/10/2017 13:51

Any comments on the apparent short by EK?https://masterinvestor.co.uk/evil-diaries/administration-beckons-at-interserve/?utm_source=Daily+Bulletin&utm_campaign=4477c446a0-Daily_Bulletin_20171023&utm_medium=email&utm_term=0_25eff0bb7f-4477c446a0-37366677

[fenners66] 24/10/2017 13:48

Losses either you do not understand the true meaning of the term due diligence in this context or you are deliberately misrepresenting it.

"Due diligence " is where you get invited to effectively audit the records of the company - usually negotiated access as part of a bid.

Buying shares because you employed someone to take a look at published accounts is Not due diligence - it's a punt like the rest of us.