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Harland & Wolff@Harland_Wolff1·12m
'Harland & Wolff has been recognised by Cruise Industry News as a new player within cruise refurbishment. '
Read more here: https://bit.ly/3pBRCre
#MadeinBelfast #MadeinAppledore #HWBelfast #HWAppledore #Cruise
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HARLAND & WOLFF RECOGNISED AS CRUISE REFURB PLAYER
http://www.harland-wolff.com/news/harland-wolff-recognised-as-cruise-refurb-player/
Edit: For what its worth I have a feeling that we may get a positive RNS this week - here's hoping.
I hope you are correct Chris as nothing else is going to keep it up. I think it is time for the sales team to improve their strike rate.
Chrisatrdg In relation to your 13.12 post may I ask what is your reasoning for thinking that we may have a positive RNS this week? My view is that with all the pressure from MPs about defence contracts you may be right. There is a backbench debate next week Thursday on the Integrated Review so the government might want to pre empt it. BAe and BAB will also have to share the work around or when the FSS tender comes around it may count against them.
Hi stokey12 - My reasoning for thinking that we may get a positive RNS this week is that the AGM has now been confirmed & now INFA can move on plus there have been so many mentions of potential work in the pipeline that for something not to happen soon INFA would start to loose credibility.In short it comes down to a gut feeling but I could easily be wrong.As for the ML I see that going to the end of Qtr 1 however I am still saying 'Strong Buy' for the moment.
We raised £9m in July 2020 to tender for larger contracts, December 2020 we raised another £7.4m to tender for larger contracts, So far NO contracts, am I missing something or has tendering got very expensive all of a sudden???
Those bonuses don't pay themselves...
Tango, it's a very good question and one I have thought of a few times. IL certainly be raising it at the next roadshow if no big contracts announced prior. As Blair points out, sadly we now know part of the answer
To those who support the payment of utterly indefensible bonuses at this stage of the company's (lack of) development, I would suggest that this reveals rather more about you than it does INFA...
BlairPeach In relation to your 17.40 while not necessarily defending the bonuses at this stage I would observe that if when the interim results are published in April they are in line with what I suggested in a previous post then bonuses could be justified. The basis for saying that is in a year INFA would have gone from having revenues of around 500K to revenues of circa 15x that figure. Against a backdrop of a pandemic that is a good performance. Also if the LoI is converted into a contract that would further indicate that we have the right team in place to deliver on the 2021 objectives on page 15 of the annual report.
bonus
noun
a sum of money added to a person's wages as a reward for good performance.
I was taking the P1ss
A bit like the bod
I don’t and will not defend the Director remuneration. It is ridiculous, way over the top. They should have some common decency and taken share options or a form of remuneration that was linked to future success. The Directors got something wrong here. Anyway I do believe in the future of the company regardless. The strategy and business model are sound and I wont be lead astray by a little bit of greed and a non-independent RemCo.
spud,
Your humour had not passed me by.
Hopefully some shareholders here will be a little more circumspect the next time JW proposes the next dilution or dive into the deep debt pool.
I’m glad others feel strongly about this. The remuneration was last financial year when we made a £10m loss! Not sure how that’s good performance in anyone’s book. To put all this into perspective, the CEO at FeverTree received less than JW and they had an mcap of 2.7b at the time.
Even if they've been chasing contracts that are in the 10s or 100s of millions for the last few months the remuneration is impossible to justify until they have secured at least a couple of them in black and white so I agree fully there.
It's not just lowly shareholders but institutions that will be pee'd off if there isn't something substantial soon and I think they'll struggle to justify another hefty raise without something meaty to show for the last 2 raises.
No more LOI's or warm words from the PM or Mr Wood, it's big juicy contracts from the renewable sector, the MOD or even the ML award and FID that will only redeem JW now. Having said that they are well placed to transform the company and the next couple of month's will be critical. Maybe if they do succeed the remuneration in retrospect will pale into insignificance.
Ban4118, to your comment. I wonder on what basis the bonuses were decided and paid. Normally it is linked to some sort of financial KPI such as turnover, share price, profit etc. I cannot see here how that would work. Last time I remember a clear KPI for bonus was announced was for John Wood achieving FEED and I think the number was 75k. I believe the RemCo has failed.
JW had better get it right soon; under current conditions, he won't be able to p!ss off to Australia this time.
Private investors are a fickle bunch lol
It will be forgotten but only IF contracts are signed....
No meaty contracts mean another meaty raise I'm afraid
Agree Spud - fickle in terms of spin and results but not principles of the company’s leaders. I am never fickle when it comes to fairness and honesty. If contracts come, and I believe they will, I will be very happy and comfortable. I will never again be comfortable with the behaviour we have seen from RemCo and from the Directors in taking these levels of premature remuneration. Markets don’t quickly forget Director’s greed.
Who is going to occupy the Hawaii office??? I think they need to establish themselves at home before expanding!!