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As predicted - stellar results!!! Profit margin is up, even better than forecast at 3.9%. Revenue is up at £3.4bn. The order book is now worth over £10.1bn. Cash is up 2,000%. What an outcome!
Adams, net cash is up 60m. You can do the math.
These results overall are excellent. The S.P. is priced at levels where the viability of the company is in doubt, the slight increase in net debt masks the big picture of a financially viable progressive enterprise with substantial upside in the S.P.
That’s disapointing, that’s what matters here, getting that down
Pantherpat
how you are right and that tomorrow is a positive day, always nervy the day before looking for indications but of course there are none. Hopefully todays measured drop means nothing. Soon know.
Annual report will be published tomorrow and we will get to see the precise detail behind the trading update preview back in July. My hunch is that this will be a stellar report for Kier. In the update Kier reported £60 net cash, well up from £2.9m last year and said it had strong cash inflow from construction contracts. The fact that they snapped up Buckingham's rail division with just £9.6m of it shows strong confidence, and this is coming from Davies, the most cautious CEO out there. Kier's own earnings forecast was for something north of £100m and it looks like they may have even exceeded that.
Today's paper also mentions their key rail assets acquisition & broker Peel Hunt regards it as a ''strategically enhancing'' move for the group. Analysts saying the shares remain undervalued, with a confident outlook expected in the group's results next Thurs. 14th. Peel Hunt has advised investors to buy soon & has given this share a £1 -50 target price.
No material impact on extant financial forecasts so maybe beneficial in years to come but not in 23/24.
Hopefully, the purchase price was value for money. Assuming Kier picked up a bargain this move will further add excellent value to the company / S.P.?
This is a real, basement bargain buy from what I hear.....very profitable part of Buckingham that will slot nicely into Kier with minimal cost;
https://www.constructionenquirer.com/2023/09/04/kier-buys-buckingham-group-rail-business-for-9-6m/
Turbulent times we're in and I would say turbulent times ahead. So a stock with an order book ( £10 billion and counting! ) mainly backed by the current Government and Labour should they get in is a compelling buy at these levels. IMO. Inflationary pressure appears to be abating which should give Kier more visibility going forward. Patience is needed here and we will be rewarded!
Medium term uptrend is intact. Sp, bounced of support at 82, recently. Sp, requires to break above weekly pinbar, at 85.4, to give reason to buy. The pinbar, is evidence of price tightening, which is positive for the equity.
It just doesnt seem to want to make the next leap does it? I'm not topping up unless it dives again sub 75p.
Another week, experienced some drops but back at 90p - can we make £1 by close tomorrow?
Whip woo 90p today..........
Big volume and steady buying so far today. The update shows a great set of results. Kier is thriving due to cost plus contracts. The order book remains full, and profits are turning into cash. Net cash of £60m. The market cap is barely £400m which is just four times forecast earnings. Next year will likely see a small divi reinstated. I think we'll soon be back over £1.
£1 C'MON KIER LETS GET TO A £1 THIS WEEK :)
Looks a great recovery play. Normally doommonger Steve appears post results. I guess even he would struggle to downplay here.
The jigsaw puzzle of pieces that is Kier is coming together nicely and the ' big one ' will be the reinstatement of Divi's which will propel the SP, future looks good - what a relief!
Lots to like - definite hold for me, but not sure what short term impact it will have for the SP as not even a reference to dividends…..
Good news on cash generation, profit and pension liabilities in today's update......dividends must be coming soon.....
@RionnieH, you seem to be giving advice here but the SP rises nonetheless. I hope you wont have a margin call tomorrow 😜 GLA
Trading updated expected.
People (small investors) could have been buying 10 days ago at around mid to late 70's pence - why the flurry now at 82p plus? C'mon good news on the way surely?
Big big volume of trading today but a mixed bag of buys and sells - what is going on? Happy to see the climb in price anyway and I for one are holding steady waiting for the return to £1. GLA.