Share Name Share Symbol Market Type Share ISIN Share Description
Mitie Goup LSE:MTO London Ordinary Share GB0004657408 ORD 2.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +2.20p +0.84% 264.60p 263.40p 264.20p 265.50p 261.80p 262.70p 131,705 09:36:38
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 2,126.3 -58.2 -52.4 - 976.62

Mitie Share Discussion Threads

Showing 951 to 972 of 975 messages
Chat Pages: 39  38  37  36  35  34  33  32  31  30  29  28  Older
DateSubjectAuthorDiscuss
20/6/2017
14:16
Baggy, pension deficits no longer such a concern due to changes in indexation
muffster
20/6/2017
14:02
Should someone not investigate the role of the previous management as surely there was serious wrongdoing here.
meijiman
20/6/2017
13:08
thanks investopia. I got it from the FT site. Isn't it consensus EPS 16.65? Are you not concerned that the quality of earnings will be poor for at least two years as they put through further charges? It looks like there is a further £70m on IFRS15 alone plus exceptional costs of the restructuring that of course has yet to be delivered? There could also be a £7-10m payment per year needed to the pension scheme t eliminate the deficit.. Also will the markets remain strong through that period?
bagpuss67
20/6/2017
11:09
forward P/E 18.3 now based on consensus.
bagpuss67
19/6/2017
20:57
This company was wrecked by the previous management team. The Chairman must have been weak.
meijiman
19/6/2017
19:10
Wow..just noticed that net current liabilities were £330m at the end of FY17 and quick ratio 0.63!!! Also admittedly backed by derecognised book debts there is also £111m due on invoice discounting facilities in addition to reported net debt.. ...and finally don't forget that DB pension liability peanuts at the last pension scheme valuation in 2014 but I can tell you wont be for this pension valuation ongoing now in 2017. That will be quite a substantial cash drain I guess to plug the hole..
bagpuss67
19/6/2017
19:01
Those pesky accounting standards: "IFRS 15 likely to require restatement of PoC asset (£50m) and a reduced mobilisation balance (£21m) in FY18" Analysts presentation
bagpuss67
19/6/2017
18:51
From the may 3 trading update "In addition, the review has identified a number of material errors which may necessitate restating our FY'16 accounts. This would likely result in an increase in FY'17 reported results of between £10m and £20m" From the analysts presentation "•£21m PYA •FY2016 operating profit restated from £135m to £114m" Am I missing something or did they say in the trading update that the PYA would be positive when in fact it is negative??
bagpuss67
19/6/2017
14:20
Robin. Yes. There is a huge cash inflow from working capital reduction. Not yet sure how much is a permanent reduction but I guess it won't all be. Which means a possible funding requirement for increasing it
bagpuss67
19/6/2017
12:24
Robin - yep, downhill from here me thinks. Timed to perfection imho
targatarga
19/6/2017
11:23
Surely this is bound to tank sooner or later the current share price is bonkers! I think the thing to do is watch the chart for a reversal before shorting. I lost money on my last short trying to prejudge the market reaction to the results! Re the reduction in net debt in the results I see that trade receivables are way down and trade payables are way up, adjusting these to normal historical levels would give a big increase in net debt and not a reduction. The cynic in me says that they have chased up every last penny from clients pre the year end perhaps even offering discount for early payment and delayed payment to suppliers and subcontractors until after the year end. Note this is just conjecture on my part I have no evidence to back it up except the unusual changes in the sums against historical figures.
robinskardon
19/6/2017
10:45
Horrible company this, saw what looked like a tramp outside Co-Op this morning in Silsden, then witnessed him again in the store carrying a small shovel and a broom with a Mitie tea shirt on, I understand equal opportunities, but this poor soul looked like he was being paid with bread and water, I can see how the margin works here, the staff are on destitution wages while the company keeps like sixty per cent of the labour costs that it tenders for!
bookbroker
19/6/2017
08:48
But at what point do they think they are paying silly money to close. Do they pay more than the all time high? The business still has to actually deliver the turnaround in a chpppy market. Currently only paper thin net assets and the income stream will be plagued by exceptional for a while. Doesn't even pay a dividend now!
bagpuss67
19/6/2017
08:48
Cant argue with that. Short squeeze taking place.
bagpuss67
18/6/2017
20:15
Ah! If all the things that "should have been true" were laid end to end... etc, etc.
pvb
18/6/2017
11:57
And should have been true!
bagpuss67
17/6/2017
12:06
Err... It's still there.
pvb
17/6/2017
08:07
Simon Cawkwell 12 Jun '17 - 07:47 - 476 of 485Well, I think we open sharply lower on this statement.Deleted his commentI wonder why
rackers1
16/6/2017
11:22
Turnaround story though. Bought in a few days back and see Eps growing substantially
muffster
16/6/2017
10:09
I wonder what the market believes that the value of this is. Heading back to levels when they were constantly buying back shares and pre profit warnings. Net assets 90m. Market cap 1b!
bagpuss67
14/6/2017
15:47
The institutional shorts have barely moved. Although I appreciate they could be late reporting to disguise their activities. Sorry I've looked again and now a reduction is showing
bagpuss67
14/6/2017
14:44
I take your point Kazoom. The problem for shorters is this is an index stock with funds indiscriminately tracking the market. However the company's earnings are, for the most part, UK based and it is unlikely to generate the increased earnings it is banking on. With US interest rates rising and renewed problems with sub prime lending the whole market must at some point crack. The bull market is, in any case, running out of steam. Mitie cannot defy reality. It must raise cash and soon. The UK picture is bleak with those who voted for isolation and poverty likely to see the error of their ways.
wiseacre
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