The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Looks solid with order book ahead of last year:
Full year 2024 expectations in line
Group revenue for the year is expected to be £140m, approximately 6% below the previous year including five months contribution from the acquisition of Rock & Alluvium Limited, or 12% lower on a like-for-like basis. This is in line with expectations and reflects the impact of prevailing market conditions, with the housing and infrastructure sectors being impacted by lower levels of demand and delays.
During the Period, the Group continued its focus on operational performance, whilst controlling its cost base, and as a result expects to report profit before tax in line with market expectations1.
The balance sheet remains strong with a healthy cash balance. Net cash as at 30 April 2024 (excluding IFRS 16 property and vehicle lease liabilities) decreased to £5.5m (30 April 2023: £7.5m) reflecting increased investment in the year. During the Period, the Group made the final consideration payment of £0.7m for the acquisition of ScrewFast Foundations Limited, the initial consideration of £1.8m for the acquisition of Rock & Alluvium, and early repayment of variable rate hire purchase contracts of £1.1m.
The Group's funding facility of £11.0m is unused, providing significant liquidity headroom. The Board continues to appraise new M&A opportunities in the Group's core and adjacent markets.
The order book as at 31 March 2024 was £36.8m (30 April 2023)
Plenty of debt, but interest rates are on the way down, and share price is on the way up now
When, not if!!
Stupid fool
= Cash Call= sub10p
RNS - Mark Cutler CEO's wife buys 100k shares at 39p.
A good show of confidence.
Yes H1 revenue down 16% v Last year H1, however operating margins on par at 3.9%
The real positives here are:
+ Net funds up to £8.9m. These were £7.5m at the end of April 23
+ Order book up to £32.7m v £30.8m in April
This sets out scene for strong H2, particularly in SE with recent acquisition and focus on commercial piling.
A bit disappointing.
Not sure why it goes down as for the last few days the buys are more plentiful
Interesting acquisition:
https://www.rockal.com/
They seem to be paying book value for the 11 rigs and be growing into the ' South East, a region with good mid-term growth prospects which is currently under-served by Van Elle'.
Tomorrows Investor Meet presentation should be interesting (management have come across well in them in the past).
Certainly worth listening to the Investor Meet presentation from today; the company seems to be weathering the current economic climate well enough. The presentations end up on YouTube in a couple of days...
Hard to believe that they obscured the completely ordinary word I used to indicate that there are few RNSs!
sax
sorry, barely look in here since the last dozen messages have spanned 12 months!
i just mean that the last update was open and honest but didn't provide much confidence for the immediate future. i maintain my holding here (originally bought partly as a result of the grand hs2 plans which are now of course a shadow of their former selves). rnss are sp**** so we, or at least i, just hope!
Explain please
....... anybody there? Is this a Pandoras box with all curses released and only hope remaining. Discuss.......
Halve first
But have first!
If turnover will be up 20% then turnover will be around £150m. First half turnover was £80m so 2nd half turnover down by £10m to £70m. Even with winter being quieter, this is slightly more of a slowdown than I had expected.
But, profit is still up 50% and the slowdown seems more of a bump in the road and VANL Canada offers hope of diversification away from UK based turnover in years to come. PE of around 10 seems about right
No. Small caps are all over the place even with no news. It may be time to sell.on strong rallies in anything. The MMs are just having a field day at the moment. If you are confident with your choices I suggest you just hibernate for now
Mr Market seems a little underwhelmed despite the Interims being as guided. If the Market was surprised by a slowing housing market, it is dumber than I thought... or am I missing something?
Nice news, but I think we are being held back by the long history of major cuts to projects whenever the economy gets into bother.
I think the wariness in the city is probably due to the many past big governmental pull backs in previously projected spending on major civil engineering projects, whenever the economy gets into trouble.