Trading statement today - not good and shares have halved - just starting a thread in case anyone is interested in looking for the dcb ....

Currently 19p to buy - not thinking of buying at this time but just started tracking



ains


last bought 25/02 @ 12.5 last sold 26/02 for 10% gain

Top of the ftse100 risers board again @ plus 7.27% intraday


Fri 28 Feb 2003


LONDON (SHARECAST) - Credit Suisse First Boston has raised engineer Invensys to neutral from underperform, but cut its price target to 25p from 32p.

Not in these at this time


(AFX-Focus) 2003-03-10 18:29 GMT: Invensys long-term ratings cut to BB+ from BBB- by S&P
LONDON (AFX) - Standard & Poor's Ratings Services said it lowered its long-term corporate credit and senior unsecured debt ratings on Invensys PLC to BB+ from BBB- after an initial review, and kept them on CreditWatch with negative implications, where they were placed on Feb 14 after a profit warning.
"The downgrade reflects the fact that Invensys' results for the year to March 31, 2003, are likely to be below the levels expected for the previous ratings on the group, and that, in the medium term, results are likely to remain depressed," said S&P credit analyst Leigh Bailey.

"There is also concern that Invensys' business profile and market position may have deteriorated, given the financial pressures faced by the group and its vulnerability to challenges in its markets from better capitalized competitors. Overall, Invensys' credit profile is no longer in line with an investment-grade rating."

Invensys said on Feb 14 that second-half 2002 core operating profits could be as much as 25 pct less than those of the first half. As a result, its credit measures for the full year 2002 are likely to fall below previously expected levels, which were already weak for the ratings.

The ratings on Invensys had previously factored in the expectation that trading would not decline overall in the second half of 2002 and that credit measures would improve over the next 18 months to levels in line with an investment-grade rating.

Invensys' business profile is likely to have weakened in recent months, as other major global players appear to have gained market share, particularly in the process and automation segments, S&P said.

The ratings on Invensys remain on CreditWatch with negative implications, indicating that they could fall further. As part of the CreditWatch review, S&P will assess whether the group's rated bonds should remain at the same rating level as the long-term corporate credit rating.

jsa/shw

sensible !

teddy

Not interested at this time ......


March 11, 2003

VT Group chairman tipped as heir apparent for the top job at Invensys
By Jon Ashworth



INVENSYS, the engineering group facing relegation from the FTSE 100 index, is understood to have identified a candidate to succeed Lord Marshall of Knightsbridge as chairman.
Martin Jay, chairman of VT Group, formerly Vosper Thornycroft, is being tipped as heir apparent to Lord Marshall, who is up for re-election at the Invensys annual meeting in July.

With a chart like that I bet Trader ainsey is up to his little neck in these!

What a track record!

F

Out of interest dreamer/fugitive .... which of the following words were difficult for you to understand? ...... duh


ainsoph - 10 Mar'03 - 18:55 - 92 of 95 edit



Not in these at this time







ainsoph - 11 Mar'03 - 07:44 - 94 of 95 edit



Not interested at this time ......

In the Times......not bad for a company that is valued at 350m...hedge funds must have reversed their positions....time to walk it back up ?

March 15, 2003

Rumour of the day



Invensys rose p to 10p on talk that Siemens and Emerson are casting an eye over its process automation division, which Credit Suisse First Boston values at 448 million. Siemens is seen as a more likely buyer. Emerson, which is thought to be interested in its rivals client base, may face US antitrust problems with any deal.

Should be good for a recovery now.

Ainsoph,

Good morning. I'm back and fighting fitter than ever.

Good luck to all on this one.

Regards,

wordy

Hi Wordy

Talk that Siemens and Emerson are looking over its process automation division, which CSFB values at 448 million. Siemens is seen as a more probable candidate as Emerson, which is thought to be interested in its rivals client base, could face US antitrust problems in the event of a deal.

LONDON (AFX) - Invensys PLC said it has appointed Land Securities Group PLC group finance director, Andrew Macfarlane as a non-executive director with immediate effect.
In a statement, the company said Macfarlane will succeed Sir Graham Hearne as the chairman of the audit committee when the latter resigns on March 31.

Bloomberg




Invensys Plc, this year's worst performing stock on the FTSE 100, gained on expectations the six-day 20 percent decline in the price of crude oil will lower fuel costs at the maker of motors and railroad signals.

A war with Iraq ``could be longer and more difficult than some predict,'' U.S. President George W. Bush said, fueling concern about growth in Europe's second-largest economy after the U.K. government said retail sales fell in February.

Shares in Alstom, Invensys PLC and IMI PLC were downgraded, while SKF AB was upgraded by Goldman Sachs, which published a bearish note on the European machinery and electrical equipment sector this morning, dealers said. Downgrading the sector to 'neutral', Goldman said the outbreak of war had snuffed out the early signs of recovery that had begun to emerge in January and February. "Poor weather in February, together with delayed orders in March due to the macro uncertainty, leads us to expect some lacklustre first-quarter figures over the next few weeks," said the broker in a note to clients this morning. The broker downgraded Invensys and IMI to 'in line' from 'outperform', lowered Alstom to 'underperform' from 'in line', but upgraded SKF to 'outperform' from 'in line'.

LONDON (Reuters) - Engineering firm Invensys, which has slashed jobs and sold businesses to cut debt, has said it plans more asset sales to "secure a greater level of financial stability" as trading conditions have worsened.
Invensys ISYS.L said in the statement it expected annual core operating profit of about 250 million pounds for the year to March 31 and would not recommend a final dividend.

The company said the proposed asset sales, including the troubled Dutch software unit Baan, would have had combined revenue of 2.9 billion pounds in the year to March 2002.

The rump of Invensys after the asset sales would be the production management division plus rail systems, which recently won a London Undergound rail network contract.

"The board recognises the need to secure a greater level of financial stability and to enable sufficient investment of resource in the best of its growth opportunities," it said.

Shares in Invensys on Monday closed at 12-3/4 pence. They have lost nearly 90 percent of their value in the past year as a mountain of debt and weak markets worried investors.

Colin Marshall will step down as chairman of Invensys after its annual meeting on July 23, replaced by Martin Jay, the company said.

Invensys attempted to sooth market concerns with an asset disposal programme last year totalling 1.8 billion pounds, but analysts are concerned that the remaining businesses are less profitable.

Invensys, formed in 1999, has been hit hard by the downturn in capital spending by the telecom and information technology industries and a weak commercial building market in the United States.