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Intersuck.


spygirl

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"A person close to Interserve’s advisers said the business could be taken private in the first quarter of next year, making it “easier to hold talks with the banks and government and to keep the contracts coming in”. “That’s easier to do behind closed doors than if they have to announce everything in public,” the person added".!!!!!!!!

 

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4 hours ago, Harley said:

"A person close to Interserve’s advisers said the business could be taken private in the first quarter of next year, making it “easier to hold talks with the banks and government and to keep the contracts coming in”. “That’s easier to do behind closed doors than if they have to announce everything in public,” the person added".!!!!!!!!

 

Well, its going to creditor controlled nowish.

Then some skeleton will be flipped on in the new year. Well thats the plan. The reality is that the contracts will be sold off to other people.

 

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  • 2 weeks later...

https://www.ft.com/content/3953aad0-0503-11e9-99df-6183d3002ee1

RMD Kwikform, which provides specialist equipment services and engineering advice for infrastructure projects, had margins of close to 19 per cent in the first half of 2018 — contributing £18.4m to Interserve’s total operating profit, on revenues of £97.4m. That compared with headline operating profits for the group of £40m and revenues of £1.5bn.

Jesus, what a ragbag collection of business.

One - count it! - unit was doing ~100m of business, with 20% profit. The other 1400m revenue/business gave you the other £20m of profit. FFS!

 

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  • 1 month later...
On 23/12/2018 at 12:48, spygirl said:

https://www.ft.com/content/3953aad0-0503-11e9-99df-6183d3002ee1

RMD Kwikform, which provides specialist equipment services and engineering advice for infrastructure projects, had margins of close to 19 per cent in the first half of 2018 — contributing £18.4m to Interserve’s total operating profit, on revenues of £97.4m. That compared with headline operating profits for the group of £40m and revenues of £1.5bn.

Jesus, what a ragbag collection of business.

One - count it! - unit was doing ~100m of business, with 20% profit. The other 1400m revenue/business gave you the other £20m of profit. FFS!

 

Debt for equity. Shareholders wiped out.

https://www.ft.com/content/5ca4d648-29e4-11e9-a5ab-ff8ef2b976c7

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not quite, but wont be going up much. I bought a small amount when it dived, looks like i might break even or make a little profit.

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24 minutes ago, spygirl said:

Debt for equity. Shareholders wiped out.

https://www.ft.com/content/5ca4d648-29e4-11e9-a5ab-ff8ef2b976c7

 

https://www.bbc.co.uk/news/business-47141828

The rescue plan involves cutting its debts from over £600m to £275m by issuing new shares.

Chief executive Debbie White said it was "a significant step forward in our plans to strengthen the balance sheet".

Interserve sells services, including probation, cleaning and healthcare, and is involved in construction projects.

"The board believes that this agreement will secure a strong future for Interserve," Ms White added.

The firm - a major government contractor - plans to issue £480m worth of new shares, which will be swapped with creditors for debt, leaving existing shareholders with virtually nothing.

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well, ive waited a month, my BE price was 13.79, i had a target of 18-20p to bin it, thought a dead cat bounce might come along, didnt happen, mind looks like it went up to 16 this morning, if i could have caught that i would have sold there, but no matter, i can wait, dont want to be around when they hit the no doubt 3-5p ranges.

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1 hour ago, leonardratso said:

not quite, but wont be going up much. I bought a small amount when it dived, looks like i might break even or make a little profit.

Once a stock falls 75%, all the dumb retail/BB punters punters jump in.

Todays price just does not reflect how worthless the stock is.

 

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might not, i dont care im not planning to be around for long. I know its garbage, but i dont minf making a bit of cash from garbage.

 

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  • 3 weeks later...
37 minutes ago, billfunk said:

Classic gap fill. Well played.

sorry £400, but still, cant complain, ill flog em tomorrow.

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  • 2 weeks later...

What’s the cause of the collapse ? National Minimum wage heads to £8.21/hr plus the oncosts in April 2019. I’m all for a fair wage but they [Gov] seem to be putting a lot of wage inflation into the system. Margins to be crushed?

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36 minutes ago, Ash4781b said:

What’s the cause of the collapse ? National Minimum wage heads to £8.21/hr plus the oncosts in April 2019. I’m all for a fair wage but they [Gov] seem to be putting a lot of wage inflation into the system. Margins to be crushed?

No.

Tier 1 cocontractors 

being a total shower of shit.

 

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One percent
10 minutes ago, spygirl 🏆 said:

No.

Tier 1 cocontractors 

being a total shower of shit.

 

Being thick here but what’s a tier one contractor?  

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