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Tomorrow
https://www.scottishconstructionnow.com/article/morrison-construction-owners-facing-14m-claim-over-cairngorm-funicular-defects
Looks like our company will need to defend a £14M claim for defects on the Cairngorm funicular railway.
Galliford Try seeks earthworks firms for £300m A47 upgrade
https://www.constructionenquirer.com/2021/05/28/galliford-try-seeks-earthworks-firms-for-300m-a47-upgrade/
Unbelievable entry point for people who want invest in here!!
No RNS but it is on the Galliford Try news section of the website.
RNS then?
Construction firm Galliford Try has been awarded a £10 million ($14 million/€12 million) contract to build a new railway station in Perry Barr - which will be a key transport link at the Birmingham 2022 Commonwealth Games.
The station will be the closest to Alexander Stadium - the focal venue of the Games which will host the Opening and Closing Ceremonies and athletics.
From this month, the existing station - which is described as "dilapidated" - will be closed for a year to allow the work to take place.
New lifts and improved access will be created alongside a new station concourse and booking office.
It is part of a wider £500 million ($704 million/€581 million) regeneration of the Perry Barr area, which is seen as a key legacy benefit of Birmingham 2022.
"We are delighted to have been awarded this contract for Perry Barr station and look forward to creating a much-needed new facility for local people," said Simon Courtney, managing director for Galliford Try Building West Midlands.
"This award follows fast on the heels of our recent success at Wolverhampton Interchange, and we will look to build on our reputation for providing high-quality station solutions to the rail sector."
Malcolm Holmes, the director of rail for Transport for West Midlands, added: "The new Perry Barr station will be a vast improvement on what was there before and will provide a much better environment for passengers, including the future residents of the thousands of homes currently under construction in the area.
"It is vital that we have a contractor with Galliford Try's experience and track record on board for such a landmark project."
Birmingham City Council granted approval for the station revamp in February after a previous design was widely criticised.
An artist's impression showed a grey box design which one person said looked like "something my eight-year-old has done in Minecraft".
A new design was presented and approved but this has not been immune from criticism, with Councillor Mike Ward describing it as a "high quality garden shed".
According to the Birmingham Mail, Councillor Gareth Ward said: "Given that this is going to be a flagship station because of the Commonwealth Games, I think it's rather disappointing that we haven't gone all out on the design."
As well as rail, major improvements to the road network in Perry Barr are also due to be completed before Birmingham 2022.
The Perry Barr flyover, near to Alexander Stadium, was brought down in February 2020 and will be replaced by a dual carriageway.
It is hoped that transport links will be "future-proofed" in preparation for new homes which will be built after the Commonwealth Games.
The West Midlands Metro tram service is also being significantly upgraded.
Birmingham 2022 is due to run between July 28 and August 8 next year.
The problem is the low margins. Margins have to be balanced against keeping the orders coming in. To raise the margins significantly would mean losing potential customers.
first i like to see 140p
Starting to move....hopefully to 180p
No debt, should be £1.80 now.
Yes, I totally agree. Along with Costain, Galliford sp needs a re-rate to something more sensible - 200p perhaps. Both are good quality businesses. I heavily invested in both and happy to wait out for a decent return!
very quiet here, as is the share price.
Strategy seems to be a low risk construction company with no debts but low margins. If revenue slowly grows (and pipeline is large) and margins improve then profits and dividends should respond.
The SP won't do 20 to 30% moves in a day but a slow rise to 150p seems on the cards.
Wrong board sorry.
I don't understand why all the airline and travel share prices are so high, tbo they are toast at the moment, be thankful the market trashes this share along with any covid news as imho it is far undervalued and a good chance to buy at a reasonable price. Dilution apart it should be a lot higher than this as RR has much more going on than aero engines, defense contracts and nuclear to name but two. JMO DYOR.
Housings a diff ball game, bit more volatile in some ways but usually quicker rewards than bigger longer term single projects.
In general things are still a way off normal in construction, supplies aren't quite there yet in some areas.
Covid has hurt them, anyone whos worked on a Galliford site will tell you how OTT the H&S rules are so I can well imagine how strict the covid rules are being enforced compared to other construction outfits, because of that I can easily see how they ground to a halt at the start of lockdown.
In my view its valuation is hurt from the loss of income from housing + hurt from covid. Save your sanity and tuck the share away let them crack on publishing improved finances each term and with it will come a more accurate valuation from the market. Dividends will improve and so will the share price, just not tomorrow or the next day ....
If you want quicker returns maybe jump into Tharisa or Sylvania PGM's, still very cheap given the money they're starting to make, Obviously DYOR though.
OK thanks, so it's a much smaller business now!
No it wasn’t. You are looking at the price before it sold off its house building part of the business.
Just before covid this share was 5 to 6 times the price - I can't work out why there is no interest at these levels and why the company would be worth so much less no things are starting to get back to normal?
A spread of 0.16% put you of a purchase ? Errmmmm... ok. Have you tried Cash ISAs ? Could be right up your street.
I was just about to add this share to my pf, after checking a few things out, but when I opened a dealing page and saw the spread...
Well it was an immediate 'No thank-you Sir'
No wonder this is wallowing in misery.
Thanks for all the replies, I was thinking of pulling out and trying to get back in later in the year, but as is always the case the day I do that it will probably shoot up, I annoyingly missed the first jump so I guess that is why I'm getting frustrated :)
I looked at it as a long term buy when I bought in, a 30p rise in a few months isn’t too shabby, it seems to have settled down a bit from it’s cycle of a 130 peak dropping back to 112 at least.
Div due today too if I remember right?
Anyway way if your after quick return’s I’d look elsewhere, Airlines will bounce back and you may make a few quid dipping in and out of the climbs/drops from volatile news on travel rules etc but again even with those its going to be a long time before they bounce back to the glory days and no divs either while you wait.
Mark, will still get there or close....Im waiting until the end of the month as I think the market in general will pick up ....hopefully. GL