LK Hyman
24 Sep 2015
Re: BlackRock go above 5% I suspect that the BlackRock shitweasels had 4.9% before yesterday's RNS, that they've taken out the tiny little CFD in order to encourage a bit of optimism in m^ppets like me, and that they have today undertaken some sorta trading shenanigan which has driven the price below a tenner this morning ffs.LKH on the flybridge oh well, at least my stake in Smiths is only small
LK Hyman
24 Sep 2015
BlackRock go above 5% This is surely a mark of confidence in the new feller and in Smiths itself.I DO wish, though, that, when companies declare stakes, they would be forced by the pencilnecks to declare the specifics of their "previous" holdings. We have no idea whether BlackRock have gone from zero to 5% or from 4.99999% to 5%. They just say that they previously had "less than 5%".LKH on the flybridge I mean, how hard can it be?
Ivorjay
23 Sep 2015
Bill & Ben I think that about sums it up !A good decision, but should have happened years ago,No doubt he will be good at growing 'weeds' but at our expense ?!
Ivorjay
21 Sep 2015
Re: : LKH There is plenty in the JC 'Tank' for this set of results................................I'm sure a few provisions have been released to get PB what he needs !His tenure has been pitiful and Share holder value has not been enhanced in the slightest.For those who think Dec 2015 is his retirement date, I would suggest it was Dec 2007.Total & utter expensive failure !
LK Hyman
21 Sep 2015
Re: The Last Hurrah ! Ivorjay,"JC slightly below"Hmmmm. I do hope JC is indeed only SLIGHTLY below expectations. I have felt slightly sick recently when watching what is happening to Rotork shares. There's a worrying read-across there which may not bode well for SMIN.LKH on the flybridge gurns horribly but keeps on holding regardless
II Editor
18 Sep 2015
NEW ARTICLE: The Week Ahead: Smiths Group "Monday 21 SeptemberTrading statementsNetdimensions, XLMedia, Seeing Machines, Finsbury Food Group, Digital Globe Services, Castleton TechnologyAGM/EGMAbzenaTuesday 22 SeptemberFor the first time since 2012, July's headline borrowing numbers ..."[link]
Ivorjay
18 Sep 2015
The Last Hurrah ! Assuming PB won't go out with a whimper, Wednesday's results will be at the top end of guidance, Medical & Detection achieving management expectations, while JC slightly below and the rest makes little difference either way !Cash generation remains good, and an increased Dividend is a definite ! Any fool can increase profits through cost cutting, but not at the expense of Turnover !The new guy is now going to find life very difficult, as Top line improvement is all he has left to prove his worth !£10.65 Buy a must !
Ivorjay
10 Aug 2015
EI If the management were any good, they would have developed the great potential by now and not let the company simply drift !
EssentialInvestor
09 Aug 2015
They need the MRO treatment. Alas too big, so much potential here under great management.
LK Hyman
05 Aug 2015
Re: Credit Suisse Nk1999," calculating the sum of the parts of the organisation."Groan .... Whenever analcysts start banging on about "sum of the parts" you chust know it's time to sell and move on to summat else.However I shan't sell. I like Smiths despite Bowman's uselessness. I shall give Reynolds Smith time to shake the biznay up in his own inimitable way or else bow to the American creeps' bawls of advice from the sidelines.LKH on the flybridge
LK Hyman
05 Aug 2015
Re: : LKH Ivorjay,I remember Roger Hurn. Yes, a really steady safe pair of hands. It was a sad day when he retired.LKH on the flybridge
nk1999
04 Aug 2015
Credit Suisse From ADVFN:"After US activist investor ValueAct built a near-5% stake in Smiths Group, Credit Suisse calculated a 1,500p-per-share break-up value for the aerospace engineer.According to reports, ValueAct, an $18bn activist fund which has previously influenced the direction of US companies including Microsoft, Valeant Pharmaceuticals and Motorola, built the stake on Monday, less than a week after its 5.5% stake in Rolls-Royce came to light.Credit Suisse pointed out that ValueAct becomes the third activist on the Smiths shareholder register, which already includes Harris Associate, with a 7.4% stake, and RWC, with 1.4%, making a likely combined holding of over 10% by activists.Given the conglomerate corporate structure of Smiths Group, the Swiss bank felt a potential break-up valuation scenario was appropriate, calculating the sum of the parts of the organisation."In this scenario, we value all divisions except John Crane at peer average multiples plus a 20% premium while John Crane is valued at an average UK Industrials multiple," analysts wrote, adding the view that a John Crane disposal was unlikely given its asbestos liabilities.Also within the break-up scenario, it was assumed that £800m of the disposal proceeds would be contributed into the pension fund as a remediation on top of an assumed circa-£800m of net debt and £150m John Crane asbestos liability.The multiples implied for the divisions in this scenario are 17.8 times 2016 EV/EBITA for the medical arm, which is consistent with recent take-out multiples of Covidien and CareFusion, 16.1 times for the Detection business, 13.4 times for Interconnect and 13.8 times for Flex Tek.Taking the above scenario and assuming current balance sheet value for pension deficit "would increase valuation to circa 17,500p per share"."I assume the SP figure in the last sentence should be 1750p.nk
Ivorjay
04 Aug 2015
Re: : LKH I think you're being a little too complimentary about our man from GKN.Look at their share price over the last year £3.60 down to £3.20 and that with economic growth ! Not sure number of employees is a good guide either, that could suggest poor productivity / inefficiency. I think rather than a crisp man, he'll turn out to be a mini cheddar, and moved on quickly.Other than good old Roger Hurn, appointments have always come from outside, which is obviously the best route for fresh ideas.........................................................................................provided you get the right man and not just purely down to salary package.
trader jack
04 Aug 2015
Re: Smiths businesses "PS Do you think Andrew Reynolds Smith is a family member? "Now there's a thought LKH. I very much doubt it as the various financial scribes would have been all over the appointment if he could trace his lineage back to that branch of the Smith family.Perhaps he is a crisp replacement for Philip Bowman..... oh dear I think I had better go and lie down.TJ
LK Hyman
04 Aug 2015
Re: Smiths businesses Jack," ... if I saw any return on that investment given Osborne's new tax on dividends over £5,000PA."I saw what you did there!I've had a few Premium Bonds for about 46 years. Never won a damn thing. Nada. Zip.LKH on the flybridge at least I've had a few divis off of Smiths.PS Do you think Andrew Reynolds Smith is a family member?
