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common for ffs will this **** ever pick up on shares yet ?????
It is concerning that given no definitive bad news this has retraced back some 10% from very recent highs.
I honestly felt it would push past 50p.
Shows how much I know.
The order book was weak late yesterday, I've usually got an order in that gets filled every few days but each time I bump it up during trading it's automatically jumped by a trading system unless it's first thing, that says all I need to know about who is after this one. The book was weak several punters were not on it first thing hence the drop then recovery.
Ok, it's come back a bit. Judging by the companies on today's loser board, it seems to be a sector-wide thing.
Unexpected drop today on no news I can discern. It's bad enough when news comes out, need this like a hole in the head.
Is this the recession that has been coming for 2 years but then was revised into a slowdown to avoid the embarrassment to highly educated but data-driven academics who have ranted about it endlessly?
IMF doesn't agree
Growth in the United Kingdom is projected to decline from 4.1 percent in 2022 to 0.4 percent in 2023, then rise to 1.0 percent in 2024. This is an upward revision of 0.7 percentage points for 2023, reflecting stronger-than-expected consumption and investment from the confidence effects of falling energy prices, lower post-Brexit uncertainty (following the Windsor Framework agreement), and a resilient financial sector as the March global banking stress dissipates.
And might become quite recession proof as contracts get signed and utilities, gov continues to spend. inflation in its favour, more workforce to choose from and resilience, min debt position as there maybe others to buy?
i’d expect no divi as recession coming but consolidation to continue and good progress
Common donkey , it is been too long for a good rise .
I guess that the risk here is if the government, who are clearly one of most broke / bankrupt ones that we’ve every had in a long while decide that some project work must be cancelled. I’d be surprised to see this happening before the upcoming GE but after this, who knows, regardless of who get in (but looking at the by-election results - labour).
This is a positive position as all the tenders go out from the water industry to support the next amp process 25-30. expect costain to win some of the billions to be invested. i also expect with every deal now assurance of margin and profit, they’ve been biten so not to happen again.
All helps. Not unreasonable to expect a run back up to 60p over the coming weeks.
Great, as long as the water company has enough dosh to pay!
But more importantly the cash flow and profit.
Today's RNS sounds good. I assume they will calculate 'probable revenue' and add it to the 'order book'.
That's great news
Hi Slave
I guess we're both DJ supporters but I think there's still money to be made here..Fortunately I was warned before the HoV initial drop so got out and got back in.
When you ask about cash in bank, who's account would that be ???PMSL.
I think all good, he's just very cautious. Divi return will make a difference. HA stuff will blow over. Plenty coming at Aldermaston I hear. We should have a beer with my ex COST bud, that would prob shock both of you..
Morning Rogue, sadly yes - need to get to at least £1-50 before I can realistically bail.
Would love to know what the current cash in bank is......
I'd also be interested to know what the GPM was on the Preston Job - great news that the scheme delivered on time and in budget - but have they made money??
Https://www.theconstructionindex.co.uk/news/view/costain-delivers-207m-preston-road-scheme
Delivered on time and within budget. Good of Costain to have reduced my commute time but they've also reduced my share value massively!
The Directors like the freebies I'm afraid. Been a while since actual money was employed....
Hey Slave, you still got skin in this game?
At a quick glance COST appears to be well under NAV (does is it somewhere around £1.19p/ share) yet the directors haven’t bought any meaningful quantities of stock. Is this correct or am I wrong? are any of you guys aware of any significant buying? Cheers
Https://www.constructionenquirer.com/2023/06/30/super-sewer-contractors-safe-from-thames-water-crisis/
hopefully should get paid!
Brilliant rns today from costain Here is a summary in link below. They have cut 8.5m in payments in a year! Huge. Cash in bank at dec was 124m. Mcap is 125m. One of the best recovery plays to come. Expect divis soon
https://www.constructionenquirer.com/2023/06/30/costain-cuts-payments-to-company-pension-scheme/
Ftsefan - If Liz & Co were still in 0ffice (not power) the 15% needed for govt debt might have had a negative effect on, well, everything. Except unemployment?
I've just said goodbye to a shed load of other gains, placed on an AIM "good story"
Hoping for better here.
Https://www.constructionenquirer.com/2023/06/22/five-land-485m-magnox-clean-up-deal/
Hope the full money comes forward - quick sums if split evenly would be roughly £100m over the 6 year contract - £16m/year........ - hopefull as of right awards and no mini bids required.