Interserve Share Discussion Threads

[windrushg] 19/9/2018 15:14

Agree with that skyblue5. New leadership & more disciplined contract agreements now though. They are trying to turn it around with FFG. Things are delicately poised and the last thing they need is macro-economic issues beyond their control to put a spanner in the works. If Brexit goes relatively smoothly,I'm confident the BOD will pull it off.

[skyblue5] 19/9/2018 13:52

Interserves problems way before Brexit, poor management poor contracts.

[cfc1] 19/9/2018 13:51

Fenners - total agreement!!!

Bertie - hmmm what does Belgium export to INdia - chocolate LOL!! where is Belgium????

[fangorn2] 19/9/2018 12:39

Nailed it fenners

But we didn't because our Govt, the HoC/HoL don't want to Leave the EU so are going to do all they can to ensure we don't.

Not going to end well for many.

[fenners66] 19/9/2018 12:20

I would have approached the EU with a totally different mindset to May.

It would have been - UK has voted out , we are a democracy so despite our warnings of the end of the world the will of the people is to leave, so as our govt. is the servant of the people we will do just that.

At that point we expect to withdraw from all EU laws , institutions, cross-boarder regimes and above all payments -including divorce bill etc.
Trade would be on the basis of WTO rules - we will reciprocate any tariffs or restrictions.
We will trade with the rest of the world how we choose.
We will allow whom we choose to enter etc.

However - if the EU fears this outcome - given they have a trade surplus with UK of over £50bn a year and we fund the "black hole in the EU funding of £9bn a year - then they can approach UK with a deal and we will decide if we like it or reject it.

We will work on the basis there will be no deal and arrange our affairs and only IF the EU approaches us with a fantastic deal - will we listen.

That way (sort of Trump approach to negotiation) we control the negotiation - state clearly we have a mandate and thats how it would be - instead of back sliding and playing second fiddle to the EU all the time - that's why we wanted out.


We joined a "Common Market" in the 1970's not a Federal United States of Europe.
Europe does not work anyway ....

[bertiebru] 19/9/2018 12:05

cfc1

Just one other thing. Our GDP is sustained by people going into shops to buy things. If shop prices rise sharply because of Brexit and people stop buying, the GDP could also be severely hit.

[bertiebru] 19/9/2018 11:58

cfc1

Just one small problem. We are useless at exporting things. Our balance of trade has been in permanent deficit since the mid 90s. Services are fine, but the other side always drags us down.

Little Belgium has a permanent favourable balance and exports more to India than we do. Germany totally outstrips us with great deals (6 to our 1) with China and a permanent trade balance in its favour. Both do that from within the EU.

I worked for years in the export field and know that it takes years to build up export markets. Britain would be down the plughole if we had a hard Brexit

[cfc1] 19/9/2018 11:11

lol da vinci....! true though. UK second biggest by GDP in the 'eu' Ger, UK, france, Italy and then ALL THE REST are noise!!!!!!!!!!!!!!!

now come on Interserve and give us some news!

[da vinci1] 19/9/2018 10:29

Croatia ain't ok. They were the B'S who knocked us out of the World Cup. That aside who's gonna pick our strawberries?

[cfc1] 19/9/2018 10:13

wow ...fenners we agree again. Hate listening to all the doom/disaster/end of the world jockeys....gov of the BoE should be fired!
I think I will survive without polish sausages, greek lemons or whatever estonia or latvia or the other THIRD world countries I cant even name.
Croatia is ok because its got fab islands!
What a farce

[fenners66] 19/9/2018 10:03

(sterling would plummet and interest rates could rocket)

"head of BOE warns of certain possible scenarios"

Carney was asked to highlight what the "worst possible" scenario was
so what ?
He missed out Brexit being the end of the world - Osbourne told us before the vote it would end in WW3 , there would be no pensions, an emergency budget the next day etc......

So actually the Worst Possible Scenario has go infinitely better.....

Perhaps he should have been asked what the MOST likely scenario was - I am sure it would have got a completely different answer - the Remoaners have just got a different talking head for project fear.

[windrushg] 19/9/2018 09:28

cfc1....You make some valid points I think and I hope you are right! It's a bit worrying though when the head of BOE warns of certain possible scenarios. Let's hope the EU can thrash out a sensible 'divorce' settlement to our mutual benefit!

[cfc1] 19/9/2018 08:23

windrush....NAME the 28 countries of the EU and then list their GDPs! its a nothing, BS load of scroungers.
All doom and gloom when we leave (just like everyone said it would be a disaster if we left the Euro ...
IRV simply neeeds to DO SOMETHING significant whether deals or disposals.

[windrushg] 18/9/2018 23:31

Agree with those views Aendjo. A no deal/bad deal on Brexit would be disastrous for Interserve (sterling would plummet and interest rates could rocket etc etc. I hope we get another referendum on Brexit.I would now vote to remain as IMV the nation made a huge blunder voting (marginally) to leave!

[aendjo] 18/9/2018 21:31

It’s been very quiet. A few good contract wins - hopefully the “laser like focus” on margins will translate to an improved bottom line. We’ve been through the numbers, cable strengthening slightly but Brexit still a great threat here (despite Barnier’s positive comments). The target of 450m debt by 6/2020 seems like a big challenge.

I suspect we all have ears on the rail, awaiting some positive news.

[sap312] 17/9/2018 18:36

To be honest the build quality on lots of the PFI's are bad. The poor old FM side then struggles with penalties golore.

[windrushg] 14/9/2018 10:09

To be fair, 'Construction side' are far more constructive than your comments appear to be!!!

[skyblue5] 14/9/2018 09:39

Problem with construction side is they subcontract most out. Plus they still have issues with build quality on 5 school PFI deal in Hertfordshire.
They are still struggling to deliver the goods on the ground. Other service providers seem to pick contracts more wisely not grabbing everything for the headlines. I'm amazed the government keep handing out these contracts to a company so much on edge of being the next Carrilion. Especially when they have drafted in some extra Carrilion bods in business units. Keep watching

[losses] 14/9/2018 05:51

In here it is! 10-20% moves in either direction are normal

[losses] 14/9/2018 05:50

MPs step up attack on Government's outsourcing watchdogs in wake of Carillion collapseHttps://uk.finance.yahoo.com/news/mps-step-attack-government-apos-230100775.html

[whyyy] 13/9/2018 16:29

Genuine question - Is it usual for a BOD to be this quiet while their share price bleeds out?

[aendjo] 13/9/2018 08:20

Interserve picked for Leicester school expansion

Interserve has been awarded a £5.6m contract to redevelop a secondary school on the outskirts of Leicester.

The redevelopment of The Cedars Academy in Birstall is part of a batch of projects under the Education & Skills Funding Agency (ESFA) framework.

Phase one of the project will see Interserve design and build a new classroom block and refurbish the existing Stonehill building.

During phase two, Interserve will demolish three existing blocks and another building will be extended and upgraded.

Interserve has delivered more than 30 priority school building programme and free school projects over the years. Last year it secured a place on all eight lots in the mid-value band of the ESFA’s £8bn construction framework.

[cfc1] 12/9/2018 14:50

must be close to getting some news to lift the share price Surely disposals are progressing but not one announcement in past four weeks!

[cc2014] 12/9/2018 08:57

Good morning. I just realised I missed something from posts #9869+9872, the accruing interest which adds to the pile of what has to be paid back.

So, to rerun

"So, an additional 679-450=£229m cash to be found from disposals and improved EBIT. Don't forgot those provisions on the balance sheet though. They may not affect the profit but the cash will have to be spent against them and they come to another £148m. Will they all be spent by 30/6/20? Most will. So, in cash terms that's £377m to be found by 30/6/20 on top of everything above in order not to breach the covenant. More EBIT is required and management have indicated this is on it's way."

Post #9872 shows the £148m to be too high and as a guess replaced with £100m


So, 229+100+(80*1.75 additional interest) = 479m to be found from EBIT or disposals by 06/20 to get to the covenant breach point.

[aendjo] 10/9/2018 16:39

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European Union chief Brexit negotiator Michel Barnier once again struck an optimistic tone as he said a deal on the U.K.’s orderly withdrawal from the bloc is possible within eight weeks. The pound surged.

Barnier told a conference on Monday in Bled, Slovenia, that it was “realisticR21; and “possible̶1; to get an agreement by the start of November to allow time for the deal to be approved by the British and European parliaments. Still, he warned that several issues, including the contentious matter of the Irish border, need to be resolved.

The pound jumped as much as 1 percent on his comments and traded at $1.3023 at 4:10 p.m. in London.