Redde Northgate Share Discussion Threads

[bc4] 03/7/2019 09:20

Why who said he is going to sell more REDDE?. Anyway the value is in the business not the holder

[toffeeman] 03/7/2019 09:08

Presumably there is no accurate valuation until Woody has offloaded?

[owenski] 03/7/2019 08:41

So, a customer they previously 'lost' has decided they were the better option after all and has 'returned', and the recent contract loss has decided to still stick with some of the contract for a while longer. Meanwhile, they seem to be winning other contracts too.

[fozzie] 03/7/2019 07:41

I think I have said before that this is a robust and well managed business that will recover in share price terms if one can lift their gaze above the near term. They obviously Had to inform the market of the lost contract but it has turned out not too bad at all. I am happy to keep holding and have added over the last few weeks.

[jam2day] 03/7/2019 07:31

Where is mister red alert this fine morning

[fizzypop] 03/7/2019 07:26

Cash balance approx £12m, net debt down 15% to £34.7m. Fine by me.

[bc4] 03/7/2019 07:19

Yes a very good update new business being won and debt down
Redde Plc Trading Statement

03/07/2019 7:00am
Issue Date: 3 July 2019

Redde plc ('Redde', 'Group' or 'Company')

Pre Close Statement
Current Trading

Trading in the second half of the year ending 30 June 2019 has been in line
with the Board??s expectations for both revenue and adjusted
operating profits
The original contract was due to expire at the end of July 2019. However since
making the original announcement discussions have continued with the insurer
concerned in respect of an orderly run off of the services provided. Agreement
has now been reached for the continuation of the higher margin non-fault hire
and non-fault repair services through to November 2019. The lower margin work
will cease on 31 July 2019. As a result of this extension the previously
announced impact on the numbers will be further mitigated and the positive
effect on working capital is now expected to gain traction later in the
financial year 2020 to accommodate this extension.

In addition, since the 8 March announcement there have been a number of new
contract wins in other parts of the Group as well as a contract renewal with a
major insurer which have contributed to the Board's confidence in its
expectations for financial year 2020
The high demand for the Group's services continues and the Group is investing
in the appropriate working capital to support this demand including investment
in fleet acquisitions, new IT digitisation projects and infrastructure.

Cash balances at 30 June 2019 were approximately GBP11.9m (31 December 2018 - GBP
11.6m). Net debt (including the above cash balances) was approximately GBP34.7m
at 30 June 2019 compared to GBP41.2m at 31 December 2018.

Protocols

The Group is also pleased to report that a large insurer which had previously
participated in a protocol agreement, which the Group terminated, has now
agreed to take up a protocol agreement again after the Group was able to prove
out to the insurer the alternative costs of not being in a protocol. The Group
is pleased that the benefits delivered via protocol agreements are valued by
insurers who recognise the lower costs of settling claims under these
agreements.

[owenski] 03/7/2019 07:14

Not a disaster by any means

[gary1966] 03/7/2019 07:13

Looks very good to me. All positive from a very oversold position.

[donemyhomework2] 03/7/2019 07:08

Sound good to me!!

[ltcm1] 02/7/2019 22:38

rog why do you make these horrible personal remarks about TW, what has the fellow ever done to you???

I think whatever your beef with TW is, you should stick to business and refrain from these snide remarks.

[rogthepodge] 02/7/2019 20:05

very few people would

[rogthepodge] 02/7/2019 15:40

F.O.then, simple solution!

I don't see why the trading statement should not be as expected. The recent big unprofitable contract 'loss' is not the first big unprofitable contract that they have let go.

[bbmsionlypostafter] 02/7/2019 14:25

Get some help & reclaim your life, I'm bored with it.

Best wishes,

Tom.

[rogthepodge] 02/7/2019 13:49

Share Prophets is obsessed with bloody red flags. It thinks if it says 'red flags' often enough, it's shorts go up! lol

[cleverinvestor] 02/7/2019 13:38

Trading update scheduled for this week as per my source

[ltcm1] 02/7/2019 12:55

Guys be very careful here, no trading update yet.

How many Redd flags do you need???!!!

[ltcm1] 02/7/2019 10:04

Still no trading update here! I hear we are set for a 'Purplestinkers' tomorrow though.

Just look at Kier and Purplebricks for evidence of the 'Woodford effect'.

[rogthepodge] 02/7/2019 08:55

Such an outcome has to underpin the share price here.It looks like a screaming buy at these levels, due to the Woodford factor. I jumped back in to Hargreaves Lansdown too.