Pretty Grim looking. |
Something's up here |
Share price feels like it is sickening for something! |
Two big trades reported after close of £28k and £148k at 19.40 and 19.30. |
The small drop in base rate will help a little seeing the debt has increased.
House building should also start to pick up in the UK if better weather comes along, and approvals rise.
Might help a lttle. |
Ha ha. Sometimes it can also go sideways, no?
I have to confess I'm a sucker for bargains; which is an anagram for brains with a few extra letters just in case I need to qualify.
;) |
If it helps, Brucie, I've been investing in the stock market for 33 years no and I can tell you with absolute certainty that the share price will either go up or down over time. |
Picked up - partly out of sheer relief that I was not in them on the warning! If they can maintain dividends as Edison claims, that would be remarkable, but I'd be as happy for them to go carefully with a lower pay out. I will be monitoring this quite closely just in case it moves further in the wrong direction. This is still highly speculative, but possibly very oversold.
Aberforth and a NED adding yesterday. And shares now a c30% discount to NTAV.
NAI, obviously, but I'm back in in at 20p on the nose. |
Edison forecast unchanged dividends for next three years. Thier target 51p |
Certainly looking buoyant here. Presumably, the company has not had meetings with its broker, any broker notes out suggesting the future of the dividend? |
Saving the company will the huge pipeline snd increasing demand for AFC products and services.
New AFC CEO statement on Strategy and focus on 6 Feb get ready.... will be great for a Speedy pickup... |
So far, it is managing to hold the price and wants to bounce back, will have the ups and downs of the "AT" but the trend from yesterday's low is improving on a poor start of the Indices and is now recovering.
Intraday FTSE 250 chart |
Also they project the dividend to be maintained for 25, 26 and 27. |
 "Trading slower to pick up in Q4" - new research and audio summary following yesterday's Trading Update
The material AMEY contract came on stream as planned but best expectations for H2 have been undone by a continuing weak macro-economic background. We have reduced our core hire estimates by c.8% at the EBITDA level for FY25E. This still infers progress versus H224 and is significantly above H125, albeit not with the momentum previously envisaged. Post the trading update, Speedy is trading on a 40% NAV discount and a c.13% dividend yield.
Our end FY25E NAV is c.4% lower (at 32.4p per share) and the share price discount has widened significantly to c.40%. In addition, the dividend yield is now 13.3% (based on an unchanged FY25E DPS, noting that this is uncovered by FY25E earnings and free cash flow). For the record, our previously derived DCF valuation of 51.1p/per share is equivalent to long-term EBITDA generation of c.£130m; we will review all inputs with the FY25 results announcement in June.
Research note: |
Well they've - probably foolishly - been paying out dividends and buying back shares so that would explain at least some of the fall in the net equity. Both mean cash leaving the company. The 2.6p dividend they've been paying is £12M per year. |
clocktower, you are supposing that I have made a political comment I presume, and your presumption that she is lying repeatedly is without foundation - if you think that is a basis to add validity to belittling someone then we are in trouble. I notice that you haven't questioned the latter part of my comments. |
binghall Maybe if Rachel didn't lie repeatedly about all manner of things then nobody would be disrespectful - were you complaing about Liz Lettuce name being used by Starmer recently about Kemi? |
total equity (which I think is nett assets, = shareholder assets)
2022 £216m
2024 £176m
(numbers from the financial summary on Advfn, which is not a summary to trust 100%)
minus £40m in 2 years !
reducing shareholder assets by £20m/year !!
Based on that number the directors seem to be destroying the company pretty quickly !
(but one needs to look at it in detail to really see what has happened)
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one would need to analyse/understand in detail....
but
imo, generally, company buyers don't want to cough up say £120m for Speedy knowing that the banks may also require a £20-30m cash lump to reduce the bank debt
...& losing £20m/year in shareholder assets does not attract a buyer, imo.
but, if someone can put forward an opposing argument to show that Speedy would be a good acquisition, then I'm happy to be corrected, or for some debate/discussion.
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...makes me think of a song, from the 60s I think.
"Where's my baby gone
little baby gone...
...far far away"
..one could change the song to sing about money !! |
Someone asked/suggested that someone might buy them.
Not sure it is an attractive acquisition.
The UK hire mkt is not an exciting or growth sector imo.
And any purchase value calculation for Speedy has to include ~£120m for the nett debt. |
cash flow
net debt up ~£10m from H1.
and not due to any aquisition since the acquisition that cost £20m was in the prior fin. year. ie. before March '24.
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what are the banking covenants for the loans to SDY....normally a ratio of debt wrt EBITDA....or nett cash generation or...
that ratio has surely fallen unpleasantly.
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so, looks like nett debt up in '24 & it surely went up in '23 as well (included a £20m acquisition).
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if anyone is looking in detail at flow of cash & debt
...note that increasing the time until pay payables added about £10m to the co's. cash position imo.....which makes the increase in nett debt even worse imo, by ~£10m.
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some/many of us thought in '23 that the dirs had lost financial control/prudence & were going a bit wild spending a lot of money on green stuff....& increasing the debt pile even further.
Well, today's news infers that those concerns were 100% correct imo. |
Not the old dividend trap play, doesn’t work in these markets. Just trap door events like this morning are becoming all too common and a nasty wake up call for many |
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