Vodafone Share Price (VOD)

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Share Name Share Symbol Market Type Share ISIN Share Description
Vodafone Group Plc LSE:VOD London Ordinary Share GB00BH4HKS39 ORD USD0.20 20/21
  Price Change % Change Share Price Shares Traded Last Trade
  2.76 2.1% 134.14 99,343,439 16:35:13
Bid Price Offer Price High Price Low Price Open Price
134.86 134.92 134.92 131.02 131.02
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mobile Telecommunications 39,964.45 706.45 -2.78 35,911
Last Trade Time Trade Type Trade Size Trade Price Currency
18:21:42 O 241,600 134.14 GBX
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Vodafone (VOD) Latest News (2)

Vodafone News

Date Time Source Headline
28/5/202008:47ALNCFAlliance News Flash Headline
22/5/202008:43ALNCVodafone Says Heineken Chief Executive Van Boxmeer To Become Chair
22/5/202007:44DJFRVodafone nomme le patron de Heineken, Jean-François van Boxmeer, président
22/5/202007:43DJNVodafone Group Names Heineken CEO as Next Chairman
22/5/202007:00UKREGVodafone Group Plc NON-EXEC APPOINTMENT AND CHAIRMAN SUCCESSION
19/5/202010:49DJNMore Than 150 Companies Call for Green Coronavirus Recovery
19/5/202010:26DJNTelecom Italia Shares Drop After 1Q Revenue Disappoints
18/5/202017:08ALNCVodafone Issues Early Redemption Notice For EUR30 Billion Note Program
18/5/202015:51UKREGVodafone Group Plc Early Redemption and Cancellation of the Notes
18/5/202008:17ALNCVodafone Signs Agreement To Bring OPPO Products To European Markets
More Vodafone News
Vodafone Takeover Rumours

Vodafone (VOD) Discussions and Chat

Vodafone Forums and Chat

Date Time Title Posts
28/5/202014:09THE VODAFONE THREAD37,834
28/5/202011:46Vodaphone - 5G Into The Blue 1,752
30/4/202007:49 ***** Vodafone *****3,432
12/3/202021:08GURU NOSTRADAMUS DONKEY MARKETS PREDICTIONS6,336
21/12/201919:07Vodafone - Charts & News886

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Vodafone (VOD) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
17:30:30134.14241,600324,082.24O
17:30:30134.14241,600324,082.24O
17:29:24135.1996,328130,229.68O
17:29:17134.14716,715961,401.50O
17:21:45133.571,8002,404.26O
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Vodafone (VOD) Top Chat Posts

DateSubject
28/5/2020
09:20		Vodafone Daily Update: Vodafone Group Plc is listed in the Mobile Telecommunications sector of the London Stock Exchange with ticker VOD. The last closing price for Vodafone was 131.38p.
Vodafone Group Plc has a 4 week average price of 107.36p and a 12 week average price of 92.76p.
The 1 year high share price is 169.46p while the 1 year low share price is currently 92.76p.
There are currently 26,770,980,867 shares in issue and the average daily traded volume is 87,829,491 shares. The market capitalisation of Vodafone Group Plc is £35,910,593,734.99.
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30/1/2020
11:40		spud: Why I think the Vodafone share price could surge in 2020 Alan Oscroft | Wednesday, 29th January, 2020 https://www.fool.co.uk/investing/2020/01/29/why-i-think-the-vodafone-share-price-could-surge-in-2020/ On Wednesday, Vodafone (LSE: VOD) told us it has agreed to sell its 44% shareholding in Vodafone Egypt. The sale, for $2,392m to Saudi Telecom Company, is not in itself particularly momentous. But I think it represents one more step in Vodafone’s improving business focus. It comes a few days after it announced a partnership with Sunrise of Switzerland. I like to see the group taking part in more modern networks and services in developed countries. We’ve had a series of new tie-up announcements, and I think it’s mostly heading in the right direction. For a long time, I’ve seen Vodafone as a ragbag of worldwide phone companies. In fact, I’ve found it hard to see anything beyond the sum of the parts. Couple that with a long-term overvaluation, plus stubborn and unaffordable high dividends, and I saw a sell. Dividend The dividend problem has been, at least partially, alleviated now. Vodafone finally slashed the annual payment, by 40%, for the year to March 2019. But it was still nowhere near covered by earnings that year. Cover should return by 2021 if analyst forecasts are accurate, but it will be very thin at around 1.1 times. But sentiment, at least, does seem to be turning in Vodafone’s favour. After falling approximately 40% in the five years to May 2019, Vodafone shares have been picking up. And since that 2019 low, we’ve seen a 24% rise. Forecast earnings for the year to March 2020 put Vodafone shares on a P/E of 24, which might seem steep. But after a few up-and-down years, analysts are predicting some solid earnings growth to come. A predicted EPS increase of 35% in 2020/21, followed by another 20% for 2021/22, would drop the P/E to around 14.5. If earnings rises should continue beyond then, I could see that as a tempting growth valuation. But it’s more than two years away, 5G technology is only just getting started, and there’s intense competition. Resurgence? I do expect the Vodafone share price recovery to continue throughout 2020. That’s essentially because the 5G thing, plus those earnings forecasts, paint a tempting growth picture. And investors always seem ready to jump on the next growth prospect. But I fear the optimism is premature, and that the resurgence could turn bad again over the next couple of years. Vodafone will need to invest a lot of cash before it sees big profits from 5G technology, and I wonder if those forecasts are unjustifiably rosy. Then there’s Vodafone’s debt. At the halfway stage at 30 September, net debt stood at €48.1bn, up from €27bn at 31 March. That massive rise was partly due to assuming debt of €18.5bn from the acquisition of Liberty Global assets, but some was down to cash outflow. Dividend again That doesn’t help with the expenditure needed for all that 5G investment. Vodafone’s withdrawal from its older and lower-technology markets and the offloading of those assets is generating cash. But they’re not huge sums, and I can see a financial squeeze coming. The dividend cut that we’ve already seen needed to have come a lot sooner, and I reckon the current dividend should be pared back even further. Until I see Vodafone’s cash management looking a lot more settled, I’m keeping away — even if I do think there’ll be short-term gains. spud
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04/12/2019
13:08		spud: Vodafone share price: what’s the latest after posting €1.9 billion loss? The telecoms company continues to see its share price slide despite upgrading its full-year earnings guidance last month, with stiff competition and high levels of expenditure weighing on the stock. https://www.ig.com/uk/news-and-trade-ideas/vodafone-share-price--whats-the-latest-after-posting-1-9-billion-191203 Aaran Fronda | Financial writer, London | Tuesday 03 December 2019 16:08 Vodafone Group continues to see its share price slide despite upgrading its full-year earnings guidance last month, with competition in the telecoms sector remaining intense, hindering it from reigning in its spending. Despite the earnings upgrade, investor sentiment was weakened by Vodafone announcing a €1.9 billion loss for the six months to end September. The loss led Vodafone to slash its interim dividend by 7% to 4.50 euro cents per share compared with last year, representing a yield of 5.46%. The telecoms company has seen its share price fall 12% since unveiling its half-year results last month, where it upgraded its full-year earnings guidance to between €14.8bn and €15bn, up from its previous range of €13.8bn to €14.2bn. Analysts downgrade price targets but remain upbeat Analysts at UBS, JP Morgan and Deutsche Bank all lowered their price targets for the stock in November to 200p, 220p and 240p respectively. However, all three banks still see Vodafone’s share price as undervalued at 145p as of 15:35 GMT on Tuesday. Based on the company’s current share price, analysts believe that the stock has a potential upside of 37.9% to 65%. spud
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03/12/2019
10:50		tgkg: : London South East Our new Cryptocurrency section has arrived! Click here Share PricesVodafone Share PriceVodafone Share Chat Pin to quick picksVodafone Share Chat (VOD) VOD Share Price VOD Share Price VOD Share News VOD Share News VOD Share Chat VOD Share Chat 5 VOD Share Trades VOD Share Trades 4,873 VOD Live RNS VOD Live RNS VOD Information Buy VOD SharesBuy VOD SharesAdd VOD to WatchlistAdd VOD to WatchlistAdd VOD to AlertAdd VOD to AlertAdd VOD to myTerminalAdd VOD to myTerminal Share Price Information for Vodafone (VOD) London Stock Exchange Share Price is delayed by 15 minutes Get Live Data Share Price: 146.54 Bid: 146.52 Ask: 146.54 Change: -1.84 (-1.24%) Spread: 0.020 (0.01%)Open: 148.22High: 148.86Low: 146.30Yest. Close: 148.38 VOD Live PriceLast checked at 10:42:20 Share Discussion for Vodafone Regular Premium Filters Post Message View Buy buy buy bargain price I work for the government, there will be never free Internet in this country as this already has failed in Australia, society would not pay extra tax to sponsor this, and as ugly as this sounds there is no money to pay for free Internet from the budget, and there will never be money for it as we were instructed to prioritise NHS and ministry of justice as whole institution, looks to me like short sellers bought the silly idea of free interrnet and sold Vodafone shares, seriously guys, be realistic, I work for the budget for 12years now, all the Internet providers will function as normal. This share price is amazing now, only because people believe that government pay for the country Internet, I can understand that parties using this fake promise but who would believe this with the debt figure for this year!!!!!
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30/9/2019
11:14		spud: From MF: Should I buy the Vodafone share price, up almost 30% in 2 months? Kevin Godbold | Monday, 30th September, 2019 | More on: VOD It seems clear that the stock market has been reappraising the prospects for telecoms operator Vodafone (LSE: VOD) recently and the shares are up almost 30% over the past two months or so. I last wrote about the company in May not long after it had cut its dividend. The debts were high, cash inflow had been flat for years, and the share price had been falling for around 17 months, wiping off more than 40%. I argued back then that there’s nothing in the financial record to suggest that Vodafone was gaining ground with its earnings, so I was avoiding the shares. Monetising its assets But Vodafone has out-foxed me since! On 26 July the firm announced plans to unlock value for shareholders by creating “Europe’s largest” tower company. The idea is that 61,700 of the company’s towers will be separated into a new organisation planned to be operational by May 2020, with its own management team. Vodafone is looking at ways to monetise the assets, which could include an IPO of the new tower company. It seems like a smart move. Cashing in the inherent value of its own assets will help the firm reduce its big debt load later on. And the market likes it. The shares shot up about 15% when the announcement hit the newswires and the price has been drifting up ever since. But City analysts following the firm are still only predicting flat revenue, cash flow and dividends ahead, which I find it difficult to become excited about. Upgrading the network Right now, Vodafone is busy rolling out its 5G network. But where will it end, 6G, 7G… 27G? One of the big challenges in the business, as I see it, is that technology keeps evolving and so does the need for Vodafone to reinvest. But does the reinvestment score the firm much competitive advantage, or is it just a cost involved to keep up? Vodafone used to be a fast-growing player in an exciting, up-and-coming sector, but now I see it as a commodity-style provider of services that will probably never shoot the lights out with growth again. Indeed, I suspect most investors coming to Vodafone today will be attracted by its dividend yield, which is running just above 5% with the shares at 163p. But I want my dividend-paying investments to be supported by generally rising revenues, earnings, cash flows and share prices. Right now, most of those things remain flat with Vodafone, which unsurprisingly leads to a flat dividend. Maybe we’ll see the new infrastructure deal regarding the towers help things along for a while. But let’s not forget that the share price has recently plunged and the dividend has been cut. I’d feel nervous holding the shares for, say, the next 10 years, so I’ll continue to avoid them now. spud
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09/9/2019
15:41		spud: Why I think the Vodafone share price could be set for a rebound Alan Oscroft | Monday, 9th September, 2019 | More on: VOD Vodafone (LSE: VOD) shares have recovered 25% since June, so am I speculating on something that’s already happened by suggesting we’re in for a rebound? Well, we have plenty of short-term spikes in shares, and many of them fail to stick. The bigger question is over Vodafone’s chances of regaining the share price levels it was at two years ago, before the long slide set in. I think it could take a while yet for the price to break 200p again, but recent developments make me think the upwards move could be poised to continue. Slash The shares had been looking very poorly after the telecoms giant finally slashed its dividend in May by 40%, after years of paying out huge amounts of cash that were nowhere near covered by earnings. I’ve always maintained that an over-generous dividend policy while there’s huge debt on the books is folly — it’s effectively borrowing money to hand to shareholders. And while those who were firmly attached to their unsustainable 6%+ yields were somewhat miffed, I was pleased to see an inkling of common sense creeping back. Sell Then in July, at the same time that a trading update provided hints of improving market conditions, Vodafone revealed plans to spin off its mobile tower operations into a separate new business. Provisionally dubbed ‘TowerCo’;, the demerged entity would control Europe’s largest tower portfolio (61,700 of the things across 10 markets) with an estimated EBITDA of around €900m. It might even result in a separate flotation, but we’ll have to see how that develops. The market responded enthusiastically, triggering a share price uplift that has since continued. I see it as a good move too, as it’s starting to address my other key uncertainty over Vodafone. To me, the business has looked like a jumbled mess of individual country-specific operations and I haven’t been able to uncover much in the way of an overall joined-up strategy. This could be an important step. Smile In recent years I’ve seen the Vodafone share price as being largely led by sentiment, following on from a time when the industry was awash with takeover rumours and shares were just too highly valued. The subsequent slide has taken care of a lot of that, and investors are starting to regain some of their past enthusiasm. I’ve taken a look at the most popular shares in August, and I covered a few you’ll know well if you read these pages. But one I didn’t mention was Vodafone. While much of the DIY investment activity was focused on safety (like buying gold), the most bought share in the month was Vodafone (with National Grid in second place, ahead of Lloyds Banking Group). Buy? The shares are still on a toppy valuation for the current year with a forward P/E of 22, but big earnings growth forecasts are on the cards and that multiple would drop to 17 by 2020. And, by then, even the pared down dividend would be back up to a predicted 5.3% yield. That’s looking like a sustainable valuation to me, and I think Vodafone could be finally heading out of the woods. spud
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11/6/2019
11:25		maywillow: cityam Tuesday 11 June 2019 11:00 am Vodafone: Has the share price found a floor? What is city talk? Latest Share Interactive Investor Talk Contributor Follow Interactive Investor By Graeme Evans from interactive investor. At extreme levels and with a heap of bad news priced in, this analyst discusses how they can recover. Vodafone: Has the share price found a floor? Source: iStock Rebuilding confidence in the battered Vodafone (LSE:VOD) share price won’t be quick or easy, particularly with sentiment still largely negative after last month’s first ever dividend cut. What matters most at the moment is whether the blue-chip stock has found a floor after diving to a near ten-year low in the wake of CEO Nick Read’s dramatic 40% dividend reduction. Analysts at UBS think they probably have, arguing in a note published today that the negative news surrounding the mobile phone giant now looks to be largely priced in. They said: “We think the share price underperformance over the past 12 months has been overdone and that the shares can re-rate as operating momentum gradually improves and overhangs disappear.” While the Vodafone valuation now looks cheap, the broker believes that re-rating may have to wait until there are signs of a stabilisation in service revenues. Vodafone will also need to show it can successfully monetise its portfolio of phone masts and towers, as well as sell other assets on top of existing plans to offload its New Zealand business to private equity. UBS continues to hold a price target of 207p, which is among the more optimistic in the City. Shares fell 4% last week to 128.4p, although this reflected the impact of the stock going ex-dividend. Source: TradingView Past performance is not a guide to future performance The broker’s research describes investor sentiment overall as remaining bearish, with long-only investors more likely than hedge funds to be pessimistic. “We think the share price is at extreme levels and is assuming that revenue declines continue,” they added. UBS notes there’s been limited push-back from investors on the reasons behind the dividend cut, with Vodafone looking to de-leverage at a time when resources are already strained by 5G spectrum auctions and infrastructure demands. Among its reasons for optimism, UBS points to continued strong growth in mobile data usage and evidence that consumers are still willing to pay more for their services. This should support the key metric of average revenue per user (ARPU). While European ARPUs are low compared with other markets such as United States, UBS sees improving trends in the UK and Germany as customers pay more for extra services. This should contribute to a gradual improvement in service revenue trends from the second quarter of this financial year, helped by favourable comparatives against last year. The broker added: “While risks remain that promotional activity in Spain could flare up again when Vodafone loses the La Liga rights, the outlook in the UK and Germany looks resilient.” Even after last month’s dividend cut, the yield on Vodafone shares has remained punchy at around 6%. The group has also committed to returning to a progressive dividend policy. The purchase of European assets from Liberty Global in May 2018 fuelled Vodafone’s debt worries, leading to leverage approaching three times underlying earnings. The question now for Vodafone investors will be whether Read can maximise the benefits of the Liberty deal, as well as boost returns from infrastructure assets and achieve his business simplification goals. These articles are provided for information purposes only.
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30/5/2019
07:33		la forge: Is the Vodafone Group plc share price grossly undervalued? Could Vodafone Group plc (LON:VOD) (VOD.L) deliver improving share price performance? May 30, 2019 Robert Stephens, CFA Vodafone (LON:VOD) INVESTOMANIA The near-term prospects for the Vodafone Group plc (LON:VOD) (VOD.L) share price continue to be uncertain in my opinion. Investor sentiment is weak, and its decision to reduce its dividend payments may not resonate with investors who have historically seen the business as a solid income opportunity. Therefore, after falling by over 35% in the last year, a further period of volatility in the short run would not surprise me. Investors may remain cautious about the financial outlook for the business, with it investing heavily in 5G and in making acquisitions. This could put additional pressure on its balance sheet to my mind, and may mean that its future dividend prospects are less appealing than investors had previously hoped. That said, I feel that the Vodafone share price offers recovery potential over the long run. Under a new CEO, it is aiming to become increasingly efficient. It is in the process of simplifying its business model, while also seeking to amplify its financial performance through a series of partnerships in key markets. Although a dividend cut may not be a popular move in the short run, I feel that it can be helpful to the long-term prospects of a business in some cases. It can help to ease pressure on cash flow, while also providing capital to reinvest in growth opportunities or shore-up a balance sheet. Other FTSE 100 companies have cut their dividends in the past and gone on to deliver improving financial performance that has led to sustainable dividend growth. Although that situation may seem to be some way off in the case of Vodafone, I think that at its current share price and with it having what I view as a sound strategy, it may offer turnaround potential over the long run. In the near term, though, further share price disappointment may be ahead as a result of weak investor sentiment. About Robert Stephens, CFA 5936 Articles Robert Stephens is a CFA Charterholder and an Equity Analyst by trade. He is a passionate private investor who has been buying and selling shares for many years, owning a wide range of UK shares in the process. He has written for Citywire and The Motley Fool US and now runs his own business. To contact Robert, please email info@investomania.co.uk or use one of the other contact methods available on the 'Contact Us' page
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09/5/2019
12:04		cyberian: Well despite the market concerns over China/US trade issue (maybe some silly tactical plays by both sides at present which will get sorted as critical for each party), the BT.A results and dividend policy were quite positive for VOD next Thursday,I hope. BT have maintained their divi levels at the same for the previous year having dropped the interim only slightly last November, but now adjusted upwards. They have also stated that they will maintain the divi for 2020 at the same level, which is good news...return at present share price is now 7.13p. BT also like VOD have a program to build further capacity for future growth, so again quite encouraging. Maybe on a different day the positives from the BT figures may have presented some reassurance and upside for the VOD share price. So on balance the marker left by BT results should calm some anxiety over our results and div issue which will be revealed a week today. I hope a few other posters will agree?
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09/4/2019
20:47		mastey: Not persuaded gentleman .Vodafone Group Plc (“VodafoneR21;) announces the placement of £2.88 billion of mandatory convertible bonds, to be issued in two tranches, one with an 18 month maturity and the other with a three year maturity (together, the “Bonds”). The Bonds will be physically settled on mandatory conversion in accordance with their terms. Vodafone will be entitled to satisfy this delivery obligation by allotting and issuing new ordinary shares of Vodafone (“Ordinary Shares”) to Bondholders or by transferring existing Ordinary Shares from treasury. The number of Ordinary Shares into which the Bonds are initially convertible (determined by dividing the nominal amount of the Bonds by the Conversion Price described below) represents approximately 5% of Vodafone’s share capital and accordingly falls within the limits approved by Vodafone’s shareholders at its annual general meeting in July 2015 for the purposes of making offers of Ordinary Shares on a non-pre-emptive basis. The initial Conversion Price will be determined on the basis of the higher of (i) GBP2.1730 (being Vodafone’s closing share price on the London Stock Exchange (the “LSE”) on Wednesday, 17 February 2016, the “initial Share Price”) and (ii) the arithmetic average of the daily volume-weighted average prices of an Ordinary Share on the LSE over a period of three consecutive scheduled trading days starting on 19 February 2016. The Conversion Price, as so determined, will be announced by Vodafone following the close of market trading on the LSE on 23 February 2016. Settlement and closing is scheduled to take place on 25 February 2016. Vodafone intends to hedge its exposure under the Bonds to any future movements in its share price by an option strategy comprising (i) the purchase of cash-settled call options from, and (ii) the sale of cash settled put options to, J.P. Morgan Securities plc and Morgan Stanley & Co. International plc (or their respective affiliates). The option strategy is designed to hedge the economic impact of share price movements during the term of the Bonds. Should Vodafone decide to buy back Ordinary Shares to mitigate the dilution resulting from conversion of the Bonds, the hedging strategy is intended to provide a hedge for the repurchase price. The options are expected to be scheduled for settlement on 55 consecutive trading days beginning three days after the maturity date of each tranche of Bonds at the arithmetic average of the daily volume-weighted average prices of an Ordinary Share on the LSE, BATS, Chi-X and any other exchange determined at the relevant time. Vodafone may execute on-market share buy-backs of Ordinary Shares prior to or following the maturity date of each tranche of the Bonds. Any share buy-backs would be for an aggregate number of Ordinary Shares not exceeding the number of Ordinary Shares required to be delivered to holders of the Bonds following their conversion. Vodafone may consider using the proceeds of any monetisation of the two tranches of Verizon loan notes which it holds (which it received as partial consideration for the sale of its indirect stake in Verizon Wireless in 2014) to fund the relevant on-market share buy-backs of Ordinary Shares. The Bonds will be issued at par. The coupon has been fixed at 1.50% per annum (in respect of the Bonds with an 18 month maturity) and 2.00% per annum (in respect of the Bonds with a three year maturity). The Bonds (less an amount equal to the present value of all future coupons payable under the Bonds) are expected to be accounted for as equity. In addition, and in accordance with securities of this type, the Bonds will represent subordinated debt of Vodafone and all coupon payments to be made under the Bonds are deferrable at Vodafone’s option. Bondholders can elect to convert the Bonds into Shares at any time on or after 6 April 2016. It is anticipated that J.P. Morgan Securities plc, Morgan Stanley & Co. International plc and/or their respective affiliates will enter into transactions to hedge their respective positions under the call and put options described above, which may include transactions to be conducted during the reference period for the determination of the initial Conversion Price. In connection with their respective positions, J.P. Morgan Securities plc and Morgan Stanley & Co. International plc subscribed for and have been allocated, at Vodafone’s sole discretion, 45% of the aggregate nominal amount of the Bonds to be issued.
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25/1/2019
09:28		florenceorbis: Https://investomania.co.uk/2019/01/does-the-vodafone-group-plc-share-price-have-investment-appeal-after-todays-trading-update/ Does the Vodafone Group plc share price have investment appeal after today’s trading update? Can Vodafone Group plc (LON:VOD) (VOD.L) deliver improving share price performance? January 25, 2019 Robert Stephens Vodafone (LON:VOD) Vodafone share price Vodafone share price The Vodafone Group plc (LON:VOD) (VOD.L) share price is down 1% today after the company released a trading update for the quarter ended 31 December 2018. In my view, the company continues to make progress with the delivery of its strategy. It is moving towards a simpler operating model, while investing heavily in digital opportunities. Partnering is likely to become an area of increased interest for the business in future, as it aims to reduce costs and improve asset utilisation. During the quarter, the company’s revenue declined by €0.8 billion to €11 billion, while third quarter organic service revenue grew by 0.1%. The company’s performance in Europe was similar to the second quarter, with service revenues decreasing by 1.1%. There was, however, improving customer and financial trends in Italy, as well as robust retail growth in Germany. The company also experienced reduced churn in Spain, as well as a consistent performance in the UK. Vodafone’s Rest of World segment grew by 4.9%, with a decline in South Africa as a result of a weak economy being offset by strong performance in other markets. Mobile contract churn was reduced by 2 percentage points. As part of its increased focus on partnerships, the company intends to extend its existing UK network sharing agreement with Telefonica O2 to include 5G services. With Vodafone on track to meet guidance for the full year, I think its performance in the third quarter was relatively positive. Sure, there is a long way to go with the implementation of its refreshed strategy. But I think it could create a stronger and more efficient business which is better able to generate improving financial performance. Trading on a dividend yield of 8.8%, I think the stock offers a margin of safety. Therefore, I believe it has recovery potential over a long-term time period.
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