Redde Northgate Share Discussion Threads

[fozzie] 08/3/2019 12:55

Too late to sell, the damage is done. Got to hope that the pipeline of new business can mitigate some of the business lost. Insiders got out at 180 i would suggest. Hey ho, this and GVC today have hit me for six, they say things come in three's, gulp!

[parsons4] 08/3/2019 12:53

Just bought back in at 110p !!!! then more at 97p !!. Far too much reaction IMHO.
Made a lot from these a few years back from the "helphire" days.

[capricious71] 08/3/2019 12:52

I'd love to know whoever made the 623K purchase worth £860K yesterday is thinking now.

[fozzie] 08/3/2019 12:49

Big over reaction as usual.

[mammyoko] 08/3/2019 12:48

Another Woodford train smash

[barnes4] 08/3/2019 12:47

A disaster

[prokartace] 08/3/2019 12:46

Well you could now say at these level its vulnerable to a bid

[capricious71] 08/3/2019 12:45

Looks like pistonbroke1 was right.

[capricious71] 08/3/2019 12:42

I think I'll stick to index funds from now on. Way to go, Redde.

[prokartace] 08/3/2019 12:39

I would really like to know if the company knew this prior to publishing the results

[trickyricky] 08/3/2019 12:33

They'll be cutting it at this rate. With hindsight, one could view last weeks update as a profit warning.

[barnes4] 08/3/2019 12:31

Can’t beat a Friday rns

Is this the reason for the held divi?

[speedsgh] 08/3/2019 12:24

Contract Update -

The Board of Redde (“Redde” or the “Group”) announces that, following an extensive period of contract tendering, the Company was informed today that it has not been successful in securing the renewal of a hire and repair contract with a large insurer. The existing contract runs through into the next financial year and there will be no impact on adjusted operating profits in the current financial year ending 30 June 2019.

Taking into account the loss of this contract, other contract wins and the effect of mitigating actions, the Board expects that the impact on existing consensus market expectations for the financial year ending 30 June 2020 would be a net reduction in sales of approximately £111.9m (representing 18.2 per cent. of consensus expectations) and a reduction in adjusted operating profits of approximately £4.7m (representing 8.7 per cent. of consensus expectations). The effect on working capital in the financial year ending 30 June 2020 is anticipated to be positive.

After 10 years of partnership, the Board is obviously disappointed not to have secured the renewal of this contract. However, as announced in the interim results on 27 February 2019, the pipeline of new business is nevertheless encouraging with a number of live prospects.

Commenting on the news Martin Ward, Chief Executive Officer, said:

“We are obviously disappointed not to have retained this contract. We will however concentrate our efforts on continuing to support our existing partners as well as winning new business to mitigate the effect on earnings in the next financial year.”

[fizzypop] 08/3/2019 12:24

120p what just happened?

[capricious71] 07/3/2019 15:40

Would be good to see a director buying.

[fizzypop] 07/3/2019 11:22

On LSE 10.34am 623K purchase worth £860K someone has faith if it really is a buy.

[pistonbroke1] 07/3/2019 11:14

Hi Fizzy,
Yep Reede has been good to me over the years since name change. Have traded several times trying to buy 150 -160 then selling @ 180 but this last set of results has changed the game a little. Am out at the moment and shall wait for it to settle and start a sustained recovery although I'm not sure it will be quite so easy this time.

[greenelf] 07/3/2019 10:55

Well in the redd

[fizzypop] 07/3/2019 10:31

Hi pb1. Binary choice: buy now at 138-140p bottom OR wait for Brexit No-Deal exit on 29 March. I chose the former.

Good to hear from you - I remember you have been in Redde many years with your divis covering your share purchases. I'm a relative new boy having started in 2013.

[pistonbroke1] 07/3/2019 09:30

Think there might be a better one over the coming weeks

[mammyoko] 07/3/2019 09:29

Market saying dividend unsustainable - £40m of net debt and FCF barely covers dividend

[capricious71] 07/3/2019 09:27

Another buying opportunity.

[fizzypop] 07/3/2019 08:35

In for 7000sh at 139p. but no divi as ex div today.