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Hi Silver,
The BOE forward forecast was downbeat and even the shares with great fundamentals are suffering. Personally I think the BOE are a little over pessimistic.
I am really impressed with the exec team at SRC and if anyone can steer through the turbulence they can. Q1 was good and they are still on the acquisition trail.
I am looking at this with a glass half full, there will be a lot of construction in Ukraine at some point ! and SRC should be ideally placed.
tiny increase in their position,but still an increase.
https://rightcastltd.com/2022/05/10/rightcast-sigmarocs-precast-products-group-ppg/ referenced on website. courtesy of arregius.just out of interest.
I see no specific issue for the substantial drop in SP. Headwinds but more importantly, negative sentiment is affecting many sectors. My average is 53p, so was 100% up t one point. Need to gauge this week ahead, but there is no doubt overall market fear is high, VIX is up, may start buying a few small tranches this week at these prices. SRC is currently on sale. Be brave
Its messy in all sector's at the moment - but certainly comments made by the BoE in relation to a potential recession if they don't get the balance between inflation and interest rates correct is sending SRC into further freefall - along with others in the building sector. To be trading at 20p a share less than the rights issue last year seems completely OTT - but as noted earlier this week there also appears to be a large seller in the market and MM's could be sitting on stock they cannot shift and need to balance the books. The cost of borrowing to build the business is not going to get any cheaper either - so further dilutive placings (short term) may be required to finance any large scale growth. In the meantime its behind the sofa stuff on the investments front atm. SB
Bit of a panic on now guys.
Usually the best time to buy!
Never believed this could go so low.
I’ll be buying tomorrow if no jump up.
But this is not advice!!!
good point silverblade.lets see if we get any announcements.cheers.
No problem Italian. The only other issue kicking around in the background is Blackrock's 10m CFD holding - which they probably used as a hedge given their core long holding - and given what has occurred here over the last few months was a good play whether you agree with trading of that nature or not. Will be interesting to see if any of the CFD's have been closed out in the recent trades. ATB. SB
thanks for that silver blade.that was the impression i had, so good to have it confirmed. blackrock is the most likely suspect but obviously we need the RNS to confirm.t he last 5 trades today (including a couple of big ones) were all off book, which i expect all the large ones will have been. so basically two party transactions,buy and sell. question is is someone accumulating? have to say,whenever I've speculated on these type of things im always wrong,so happy just to wait and see what plays out.
Just had a look - yesterday someone sold 8.375m shares in 6 trades over 100K at 73p; and today another 4m in two trades at 73p. All in all just under 1.9% of shares in circulation sold in last 24 hours. Blackrock reduced a bit last week - but nothing of this scale - so possibly they are reducing their position here. SB
And I add my thanks for sharing the info; it is appreciated.
interesting additional information silver blade thanks.im pretty sure there was a £2m trade (sale?) yesterday just before 4pm i think.i can't go back that far now,so can't check and happy to be corrected if mistaken.
Looks like the previous management team got a deal and exited the premises! Rightcast have 30+ employees, decent client base and adds another business to our precast group. Didn't notice the trades referred to yesterday Italian - current performance is not what we expected to see here - but same can be said for lots of companies/sectors. SB
https://rightcastltd.com/ sigma roc have acquired rightcast ltd,which specialises in concrete stairs.it became the relevant legal entity with 75% plus control in last couple of days. in practice i expect it is fully owned, as the pre-existing directors have all been replaced. small beer of course,as not RNSd, but pleased to see some evidence of the grow by acquisition strategy continuing in this rather difficult period.some very large trades yesterday and today.expecting RNS re shareholdings shortly. courtesy of arregius on ADVFN
Disappointing to see a poor price response to what appeared a strong trading update. Our peers - Breedon and CRH - are in a similar position (and also posted healthy updates) so clearly there is a lot of nervousness on how the sector will perform in the medium term on macro economy growth issues - and companies such as SRC who are in the 'buy to build' space need to raise money through equity and debt to fund acquisition - with the cost of debt increasing as we enter a new interest rate cycle. Free cash flow will become increasingly important to grow the business - so in some ways the timing of the nordalk acquisition and how it was funded in particular was a great bit of business - accepting the negative issues on trading in eastern Europe which as we know is limited but there is a risk of contagion. SB
Turnover slightly below my estimate - but period did include xmas trading period and with the addition of Johnston we should be in the region of £450/460m full year turnover. If we get anywhere near our EBITDA target of 20% (2021 - 18%) then we are in great shape. 2021 eps - 5.4p, targeting 6.7p in 2022. The focus will be on driving eps into financial year 2023 given the trigger levels for LTIP awards based on 2023 results with maximum vesting based on an 8 pence eps. SB
confident and encouraging update.should hopefully allay concerns over the first quarter position and energy costs.
AGM on Tuesday 26th. Expect a trading update to be issued same day - which will hopefully provide a Q1 turnover number in the region of £125m imo and will allow some of the market pricing concerns to be allayed. Current price does not reflect all the great work in the last 24 months - and we remain well below the 85p placing price used to purchase nordalk let alone the highs reached later in 2021. SB
agree with that silver blade. may not be by august ,but certainly something before years imo.
Great initiative by the management team to host this visit. I wonder if Peel were also in attendance. Liberium price is a 60% upside from here! I think the H1 2022 results in august will be a major catalyst here - and would not be surprised if there are further acquisitions prior to that. SB
After visiting Finland, Liberum have issued an upbeat note with target 130.
fairly chunky trade 0f £542.5k @77.5p just before 4pm.presumably had to be a buy given subsequent s/p movement.
Thanks for posting this Italian - Simon sums up the current position well - 2022 is on track for another step change year in terms of scale and profitability. Market undervaluing a highly cash generative, growing and diversified business. But not alone in that position. SB
https://www.investorschronicle.co.uk/ideas/2022/03/28/priced-for-a-profitable-recovery/ courtesy of arregius on ADVFN
My concern apart from the debt, was the possibility of existing fixed price agreements to purchase limestone, issued by Nordkalk prior to the acquisition. Had been believing that the asset was inflation proof, then the thought struck me. The trouble is Nordkalk was a massive buy for SigmaRoc and likely to prove so, for the many years to come. Maybe not right now though and my worry could be without foundation. The CEO is talking in terms of the next five years, it is likely that by then the company will be thriving, making tons of profits and I'm comfortably back in. Nevertheless I kick myself for not getting out when well over a pound, even though had been harbouring some doubt over this buy.