Wood Group (john) Share Discussion Threads

[ferries5] 07/11/2019 09:40

Reassuring statement compared to some others today, Would have liked to heard more about 2020 prospects.But expecting a substantial reduction on debt when they report in March
Share price is doing well today,
Maybe caused by some of the 11% short sellers closing there positions. (hopefully)

[simba_] 07/11/2019 07:32

Broadly in line = below.

[hmgouda] 07/11/2019 07:12

Will this statement take the share up!

[togglebrush] 06/11/2019 15:52

Nervous reaction in the market. Hoping for a business update tomorrow morning ahead of the day's presentation

[hmgouda] 06/11/2019 12:58

Why it is going down!

[togglebrush] 05/11/2019 11:30

Modern missile usually make a hole on the outside but create chaos inside (shaped charge penetrates the skin and then damaged skin adds to blast effect inside). Repair is not just to weld a patch over the external hole.
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Some internals are complex being used to convert heavy sulphurs oil to light sweet crude. External and internals are weighty which need muscle or machine power to move.
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It is fifty days since the attacks. Seasoned engineers would be needed to assess the damage, oversee works, and test the result. Overall I have guessed at an emergency day rate in Saudi, in the heat, of say average over all trades of US$ 1,000 per day.
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But these are just unseen rough back of a beer mat numbers.

[hmgouda] 05/11/2019 10:08

Will wood fix the tanks or supervise the work done?

[togglebrush] 05/11/2019 09:54

25 Drone and Missile attacks occurred in September. If each cost $1 million to repair (IMHO a low value) that would add $US 25 million to net income. Average net income over last 6 interims are US$ 80 million. Last two are 30 Dec 18 at $165 million and 30 June 19 at $139 million.
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Wood probably would not get all the work but the job cost at reported top prices could be much higher. And US$ 25 million net to Wood would be a significant hike in the 31 Dec Interims and the coming Trade update.
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Job cost of US$ 50 million for each repair, a high side figure, would barely scratch the surface of the Aramco IPO but failure to report completion of the repairs would severely dent their reputation and damage the IPO.
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DYOR

[hmgouda] 05/11/2019 08:39

I doubt the figures will look good as it takes years pf hard work to fix these figures. I think it is just taking the stock high then it will be plumped again. Hopefully i am wrong but that what happens in the stock market.

[togglebrush] 04/11/2019 19:28

Rough thoughts about the recent share price recovery
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Drone and Missile attacks took place in Saudi Arabia in September
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Reports are that top prices were offered for repairs and replacements for missile damage.
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Aramco is doing its IPO on 9th November
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Wood Group has offices in Saudi Arabia close to damaged installation
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Reports of a Wood Group probable Trade update on 7th November
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All this is supposition but maybe, just maybe, the figures may be looking good

[the1hitman] 01/11/2019 09:50

Whats ahppening.

[togglebrush] 27/10/2019 13:19

Capital Markets day 7th November 2019 is suggested in my notes

[chutes01] 18/10/2019 15:20

Watson buys £5k shares
Price about to collapse below £3 as further contract losses are in the public domain

[chutes01] 18/10/2019 12:37

They have made themselves some serious cash at the expense of shareholders and the misery of the employees
That there is no doubt
When they go or the business fails they will escape with their millions

[chutes01] 18/10/2019 12:31

Yes indeed
You know them well

[puffet] 18/10/2019 10:40

chutes,

Allegedy,

You are spot on with the nepotism aspect of the business.

The 3 at the top of the board Watson Kemp and Stewart - running a $4 billion multi national business!!!
Dave Stewart is imho a bumbling idiot who has somehow made it to the top of the tree with zero business acumen.

Watson and Kemp - well as you say mechie fitters again with absolutely zero track record in running a serious business.

Apologies for the rant but its so hard to see a proper business (Wood Group) being run into the ground by people who have lined their pockets at the expense of its employees and shareholders.

[chutes01] 17/10/2019 11:24

puffet
I'm not sure the market is too aware of what you say, directors are ex Industry fitters etc. and a high degree of nepotism has allowed them to be quite wealthy here.
It truly is a great worry now, don't think this cannot fail - As you say anything profitable is being firesold, and several contracts are in distress or being downgraded.

[puffet] 17/10/2019 09:50

A number of posters have been going on about the lack of credible management in Wood since the AFW take over. That's the fundamental problem Watson, Kemp etc are so far out of their depth they cant run a business of this size. I have said before Wood could be another AFW in the making and collapse due to cashflow issues. They have no idea how to get the crippling debt under control and are undertaking a firesale of any profitable areas to delay the inevitable.
The share price was pushing £8 a year ago now hanging on to 350p.
Until there is a change at the top it will continue to slide.

Allegedly.

[bennodean] 16/10/2019 16:24

I hope you are on the money... because I will be getting a buy signal on this tomorrow I suspect if the backside doesn't drop out of the price - and I will refrain from acting on it.

[puffet] 16/10/2019 14:25

Thanks kaffee

[kaffee] 16/10/2019 08:46

Puff... from years of watching "Have I got News for You"... you need to add "allegedly" to your post above... so it's not libellous ;-)

[puffet] 15/10/2019 11:41

Hear Wood are allegedly about to sell off WGIS one of their few profitable businesses in a desperate bid to raise cash. Also allegedly offering clients discounts on outstanding bills if they pay up before xmas. Desperate stuff!

[togglebrush] 09/10/2019 16:09

FWIW____How low can this share price go ???
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The stats for OHLC daily prices since 1st Jan 2010 and 1st Jan 2019 are:-
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Period_____Decade____2019
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Maximum ___927.00___801.20
Q3_________752.00___577.20
Median_____659.90___520.20
Q1_________607.00___472.50
Minimum____291.30___337.20___ so far as yesterday