Mitie Share Discussion Threads

[shakyhands] 12/6/2017 08:59

'trying to make some sense of it all,but I can see it makes no sense at all....'

[mike24] 12/6/2017 08:27

they should tie-up with Interserve
mto need to spruce up their image,
a silly logo on their fleet of vehicles
99% of the population have no idea what they do,
and missed a lot of ops to buy freeholds they occupy
such as complex (Kepler House)
650K could have made a million on this site alone

purp down nearly 6% this am, you wonder at their
advertising ideas,

[bagpuss67] 12/6/2017 08:10

Incredible. Net assets only 90m. Risky but increased short at 277p

[simon cawkwell] 12/6/2017 07:47

Well, I think we open sharply lower on this statement.

[wiseacre] 18/5/2017 11:40

It can only be a short squeeze that is holding this stock up.

[bagpuss67] 12/5/2017 14:02

FRC just fined PWC 5m for its audit of Connaught. Mobilisation costs, long term contracts and intangibles.

[bagpuss67] 09/5/2017 08:19

What will the balance sheet reserves look like after these provisions and the ones needed to comply with new accounting standards. Less than £100m?

[bagpuss67] 03/5/2017 19:19

The pension deficit on an accounting basis was £85m at the half year. This is typically a less prudent basis than needs to be reflected in the actual pension scheme valuation that needs to be funded by the company. There is such a triennial valuation with an effective date of 31 March 2017. The deficit would be expected to typically be larger than the accounting deficit of £85m in this case. This will have to be paid off in cash over perhaps 10 years. Also the group must find the best part of $100m at the end of the year to retire to tranches of the private placement notes. Separately I've not quite got my head around how they have managed to reduce net debt so much to this year end. Any ideas? The hedging instruments??

[bagpuss67] 03/5/2017 08:59

Maybe. I have a modest but underwater short position. Will be interesting to see how the institutional shorts react. All skeletons discovered? Personally I doubt it.

[targatarga] 03/5/2017 08:18

Bagpuss - maybe it'll sink in later [timber].

[bagpuss67] 03/5/2017 08:13

I just don't know how this share holds up against that type of statement referring to material errors and further write offs

[bagpuss67] 13/4/2017 08:18

Anyone thought about the impact of the DB scheme here? Gilt yields very low, employer covenant deteriorating» big hike in ongoing deficit and deficit repair contributions possibly.

[bagpuss67] 13/4/2017 08:14

I guess they will be mulling over the year end numbers and starting to have conversations with the auditors soon. New management need to make sure they have completely cleaned up and put it all through these accounts. Will be interesting.

[bagpuss67] 06/4/2017 09:18

Is it really possible all the issues have been found and provided for? Or still some horrors in the balance sheet?? The ohio teachers seem to think so!

[robinskardon] 29/3/2017 15:51

I have shorted this twice now since the big fall in share price and got out with just a small profit each time. I will have another try as soon as the share price turns down again and hopefully it will go through the resistance at about 190 this time and head towards my 150 target. Like everyone else here I can't understand what is keeping the price up!

[betterstocks] 29/3/2017 12:18

spoole5 couldn't agree with you more this share is shouting to short on.

Bagpuss67 I can see what you mean regarding vested interest in senior management's invested equity through their shareholdings but it just all smells a bit fishy to me.

I think this is either a major short sell opportunity or something big is on the cards in its operations or ownership of the company.

Just my opinion.

[bagpuss67] 29/3/2017 11:35

The have always been a lot of vested interests in keeping the share price up. Look up what the initials MITIE actually stands for. Many executives in the business have substantial shareholdings. Maybe in some way that has something to do with it. It would be surprising if all the potential horrors in the balance sheet have been fully routed out though..

[spoole5] 29/3/2017 11:32

They aren't much lower than after the first profit warning, the company is in a mess and the sector they operate in faces massive challenges. Brilliant shorting opportunity here.

[betterstocks] 29/3/2017 11:15

I would really like to know more about what is happening with MTO. It appears more and more that there is something missing/not being told.

How is the share price still above it's current valuation with "sell" ratings flying in every where. On top of that a huge consortium of hedge funds bet against the share falling: hxxp://www.thetimes.co.uk/article/hedge-funds-bet-on-new-collapse-in-mitie-share-price-mz6q07hp2

This just doesn't add up, Bagpuss67 I agree it defies gravity!

[bagpuss67] 27/3/2017 15:45

This defies gravity. Hedge funds are 15% short.

[fidra] 07/3/2017 15:27

It is in the RNS,but i would agree, 80,000 health visits a week ALL losing money!
You are kidding me.
This lot should not have been in charge of anything.Looks like a write off of £150m
They are totally barmy!
The one good thing i suppose is they have drawn aline under it.And got it off the books.The unfortunate thing is they bought it and could not manage it.
With out a doubt the managers they have could have probably done so but they have them operating small divisions.While they lined their pockets in HO not knowing what to do.Not really up to the job of managing the business.

What a mess

Still don't know how the shareprice is so high.

[zcaprd7] 07/3/2017 09:43

Who bought the healthcare business? If they can figure it out (with cash chucked at them) why couldn't Mitie?

[robinskardon] 28/2/2017 15:07

Who is buying this? After the January profit warning I can't see it being worth more than 150p per share. Is there a takeover on the cards? Does anyone have any ideas?

[bagpuss67] 02/2/2017 17:30

It appears to be a method to acquire voting and then real interest in shares whilst the only disclosure is made by the facilitating bank. Not sure whether to expect any further disclosure in the FCA short position register. Any one else got proper understanding of this?

[robinskardon] 02/2/2017 15:52

Can anyone help me with making sense of the JP Morgan holding RNS today please. Not something I have come across before. Thanks in anticipation!