Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Plasterboards / Plaster supply is simply down to lack of product, not increased demand.
Gypsum production facilities have only been open approximately 6 weeks and have not been running at max since March.
Nice bounce up, now for this to follow through tomorrow.
Builders merchants are flat out having to wait 7 days for delivery for direct loads of p/board and metal channel and plaster products are impossible to get. Having to pay a premium to get it .
Top of the trend line is 43p , has fallen under it at present but will get back on track .
GLA
I am looking at this next rise to take us to around 33p. Nice solid day so far.
Yes I think it will recover which is why I'm in here. On the SIG Connected video (by the way did it really need Dan Walker, there goes another £25K for a media star doing a corporate day) they kept on about staff morale. Well that's great for senior management who quite fancy getting a piece of the fat cat culture, doubt it was so inspiring for the other 99.9%.
Unionpacific -- frankly, I wouldn't care much even if you're right. CD&R could have invested their precious money in thousands of other companies across the globe. So many companies would have welcomed them with open arms in times of acute crisis. They invested in SIG because they see spectacular potential here. I live relatively close to a B&M and I see first ahand the outcome of their work. CD&R turned around many companies they got involved with and I'm sure they'll do the same with SIG.
In a few weeks or even sooner, SIG will fly my friend. I suggest you invest here now, while you can still get a bargain. Talking this share down is not your best strategy here if I may say.
GLA
I have added again - with planning permission regs reviewed to permit local authorities to tear up planning red tape to allow shops to be converted into dwellings and owners to add TWO extra storeys to existing buildings - changes will make it easier for business owners to 'repurpose' existing buildings. Fast-track system will allow families to add up to two storeys to their homes.
Good for the sector and key providers - ie: SIG
Guys - How many times do I have to state, the bonus was in return for letting PE CD&R in so cheap, you scratch my back and I’ll scratch yours...Since god was a boy that is the way it works for letting the barbarians not just get to the gate but giving them a free pass right up to the discounted share section of the knock down shop called SIG......
Andy -- thanks for the info.
Shedulike -- I generally don't like talking down the shares I own but from SIG's point of vies the bonus was clearly a mistake. Francis knows it well. He came with high expectations to SIG and his staff were uplifted and motivated. By awarding himself a big fat bonus, he lessened himself to another greedy manager (or perhaps just a corporate meteorite?).
Importantly... how would it work if SIG needs to shed jobs. Can Francis make this move now? If he does, he'll lose all the goodwill of his staff (the big fat bonus guy who makes working men and women unemployed).
I think the bonus was a mistake but everything else works for SIG though. That's why I invested my money here and if it falls below 24p I'll invest much more. SIG is heavily underpriced and after 2-3 positive trade updates this may well fly to 60p at least. If Francis and the new management team play their cards right and if/when the government spends more on infrastructer/construction, we could see 100p within a year.
GLA
Agree Professor, Francis' bonus should have come after the trading update providing it demonstrates progress. Handy to get it beforehand so there's no chance of it looking even more unjustifiable. Nice work isn't it - issue a load of equity and then trouser a chunk of the profits before your performance can be properly assessed. I'm just staggered it was voted through.
Next trading update:
Dear Andy
We are working on a date of 24 September.
Regards
Katy
Katy Maughan, Company Secretarial Assistant | SIG plc
Adsetts House | 16 Europa View, Sheffield | S9 1XH
Telephone: 0114 285 7105
katymaughan@sigplc.com | www.sigplc.com
Thanks Deb.
I think the trading update will be good whenever it comes. This is a company with a lot of cash in the bank, knowledgeable and committed backers, a vast network of branches and -recently- more serious management (although I was not a fan of Francis' bonus). I think there may also be more construction initiatives/spending from UK/EU governments.
Macroeconomically, more good news on the vaccine is coming within 1-2 months, the mortality rate is falling anyway, lockdowns are getting localised rather than national, interest rates and liquidity will remain extremely favourable for years.
I think that more big money will return in the market here soon. And they'll be buying SIG.
The only downside is that JPM are lending out their shares to whomever has the money to pay their fee. This causes volatility in the short term.
GLA
With £16,500. Since Thursday.
Made nearly 40% profit first time and I think this will do well again. Coronavirus is rising but construction will not be affected much I think. I also suspect good news will be coming here soon.
GLA