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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Speedy Hire Plc | LSE:SDY | London | Ordinary Share | GB0000163088 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.40 | 1.60% | 25.40 | 24.90 | 25.40 | 25.80 | 24.80 | 25.00 | 2,262,519 | 16:27:41 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Equip Rental & Leasing, Nec | 440.6M | 1.2M | 0.0026 | 97.69 | 116.26M |
Date | Subject | Author | Discuss |
---|---|---|---|
29/11/2013 07:49 | Eerie feeling rather than smugness having sold my holdings in Speedy and Taylor Wimpey two days ago...Got out of SDY because it was drifting. Ashtead revisited. Resignation of CEO bound to take the share back into the 40s in my view. Punters will take a different view now of the international expansion element where margins were higher and growth appeared to be coming from. They will see Kazakhstan, a dodgy jurisdiction by any standards, in a different light too. Will take a long time to recover. | bertie bee2 | |
28/11/2013 23:08 | Yes you are probably right - I recall how bad the CEO leaving TLY was received by the market. Still feel a good buying opportunity might materialise tomorrow on any sharp fall gla | knigel | |
28/11/2013 23:02 | I think the chief exec leaving is more significant at this stage. | geoff21 | |
28/11/2013 22:56 | well i dont think it is the end of the world but markets do overreact. happy to be proved wrong tomorrow though ! m | maurillac | |
28/11/2013 22:48 | Other thread suggests drop in profits for the year from £20 million to £17 million - not the end of the world. If the share price falls more than 10% it will be an over reaction imo | knigel | |
28/11/2013 22:34 | Also the profits reduction is less than 1p off the share price... so any sharp fall tomorrow will be an over-reaction and a great opportunity to buy in/average down (presuming this is the only profits warning) | knigel | |
28/11/2013 22:08 | International Division which accounts for 5% of group revenue. | priteshpatel9 | |
28/11/2013 21:52 | DAILY TELEGRAPH Speedy Hire boss quits after discovery of £5m accounting black hole Rental group in talks with banks as international wing found to have "repeatedly and deliberately circumvented" central controls The chief executive of Speedy Hire quit on Thursday night after 26 years at the tool rental group following the discovery of £4.5m-£5m of dubious accounting at its Dubai-based international division. Steve Corcoran, who had worked his way through the ranks to become chief executive in 2005, fell on his sword after the group said controls appeared to have been "repeatedly and deliberately circumvented". He earned a basic £355,000 last year and is not expected to get a pay-off. The discovery, announced after the market closed, forced the group into what it termed "a constructive dialogue with its lenders". It said it remained "in compliance" with financial covenants but noted "these circumstances have resulted in a breach of certain other terms". The accounting irregularities were discovered just weeks after the arrival of a new boss for the international arm, Andy Wright, who took up his post on November 12. The division's finance director has now been suspended, while other senior divisional management are under investigation. Addleshaw Goddard has been hired "to conduct an independent legal investigation", while forensic accountants will shortly be appointed. The group said: "The information currently available suggests that certain control processes within the international division have been repeatedly and deliberately circumvented." The shares will come under pressure on Friday after Speedy Hire said consensus full-year profits forecasts of £20.9m were likely to be hit by £3m, with earlier accounts also re-stated. The group said the "accounting mis-statements are isolated to the international division and are not expected to have a material impact on cash". Last month the group said Mark Rogerson would be joining as chief operating officer, taking up his post on Monday. He is now in the running for the chief executives job. Mr Corcoran will remain "with the business for a period to allow for continuity with customers, suppliers and employees", Speedy Hire said. The shares had closed down 0.25 at 64.5p. | rumbers2 | |
28/11/2013 21:46 | The international division is a fraction of its income though? Surely better out now than later. Recovery just kicking off. | priteshpatel9 | |
28/11/2013 20:58 | Makes one wonder why SC thought it necessary for him to go. I would have thought it would have been better to maintain stability whilst the details are sorted by the professionals. Board must have agreed with SC being the fall guy I suppose. Market will give its usual over-reaction in the morning. | rodrod1 | |
28/11/2013 20:58 | In this situation the only objective is to dump the stock. Dump it and take the hit. Preservation of your capital is the only rule in investing | mirabeau | |
28/11/2013 20:56 | F.......'d! | dahhad | |
28/11/2013 20:43 | Anyone have any idea on how this will affect the share price tomorrow? | geoff21 | |
28/11/2013 20:24 | NINE NOTE BOB AS BENT Shame on them for putting the news out at 6pm From Addleshaw website Addleshaw Goddard has acted in some of the most high profile fraud litigation of recent times. Our team handles complex multi-jurisdictional cases as a matter of course. We fully understand the gravity and implications of fraud allegations, and we are committed to taking swift and decisive action to minimise its impact on our clients. | albanyvillas | |
28/11/2013 20:14 | Gosh, i am totally out now thank goodness - but only because all this talk of a market correction spooked me and besides I was more than satisfied with my rise from 24p to 68p. Looks like inadvertantly i may have made the right decision. Corcoran resigning is certainly shocking and speaks volumes in revealing the true magnitude of the problem. | rumbers2 | |
28/11/2013 19:32 | I feel for everyone invested here. There were no warning signs or anything. On paper it looks like a good value growth company (and may still be one). | jamielein | |
28/11/2013 19:04 | It must be bad for him to resign: "Steve has an unrivalled depth of knowledge of the hire industry and is one of the few chief executives of a listed company to have both decades of experience within the Company he leads and the industry it is in. He has over 25 years experience in the hire industry. Having joined the Company in 1987, when the business had 13 outlets, he was progressively promoted through the ranks and prior to becoming Chief Executive in April 2005 was the Chief Operating Officer from April 2001. Steve is a member of the Construction Plant-hire Association (CPA) Council, the Industry Principals Council of the Construction Products Association and Chairman of the CBI North West." | slinkychris | |
28/11/2013 18:58 | Not good - and why after the market has closed? | knigel | |
28/11/2013 18:56 | Steve Corcoran CEO to resign.... | slinkychris | |
21/11/2013 07:22 | Liberum Capital Buy 64.00 64.00 - 88.00 Initiates/Starts | skinny | |
20/11/2013 08:34 | Good luck Innto i too sold lions share between 66p-67p on grounds that Speedy's results often get judged negatively by market. However it held its own after most recent results until last few days when share price now appears to be breaking down. My best shot was selling 75k right at that peak of 72p. I will be back for sure. I'll take a look at LID when i get time, although i feel 'keeping my powder dry' is the regime i should employ right now . | rumbers2 | |
19/11/2013 19:00 | noelypoley ...I might well but that's the name of the game I've been in these the first lot I got was .23p I've bought and sold them over the last 2/3 years and now I'm looking for other stuff that can return another 106% over three years. so good luck to all of us. | inntolife |
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