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http://www.investegate.co.uk/Article.aspx?id=201106060700118851H
Panmure Gordon reiterate a buy on Atkins (WS).
http://www.investegate.co.uk/Article.aspx?id=201104130700077999E
WS Atkins to beat FY expectations Date: Wednesday 13 Apr 2011 LONDON (ShareCast) - Design and engineering consultancy WS Atkins said it expects full year results to be ahead of market expectations after a strong performance at its Middle East business. The group, which is the official engineering design services provider for the London 2012 Games, said overall it had traded well through the fourth quarter. Its UK business continues to perform in line with expectations despite challenging market conditions. WS Atkins, which earmarked hundreds of job cuts in light of UK government cuts, said it continued to adjust resources across the company to meet anticipated market demand. It expects to report a year end headcount of around 17,500. Its US acquisition, The PBSJ Corporation, which was recently rebranded Atkins, traded in line with company expectations during the first six months of its ownership. The group's operations in the Middle East were boosted by increased activity in the second half of the year, together with further recovery of client payments, WS Atkins explained. "The Group has continued to position itself for growth through targeted investment and active deployment of resources. With our focused portfolio of businesses across a number of geographic markets, the Group is well placed for the year ahead," it said in a company statement. Net funds at 31 March 2011 was in excess of £120m.
WS Atkins buys npower technical services team Date: Monday 14 Mar 2011 LONDON (ShareCast) - WS Atkins is paying £785,000 for the Technical Services Scotland (TSS) consultancy and technical support team from RWE npower's Bellshill Technical Services group. The acquisition will add expertise in electrical and process engineering, control and instrumentation, metallurgy and site-based testing and diagnostics for power generation facilities to the engineering contractor. "This acquisition of complementary skills strengthens the energy consultancy services we can offer for the design of new power generation facilities and the life extension of existing assets,” said Atkins’s chief executive, Keith Clarke. TSS also brings expertise in biomass generation and in establishing grid connections to wind farms, the company added.
Keith Clarke, chief executive, said: "This acquisition of complementary skills strengthens the energy consultancy services we can offer for the design of new power generation facilities and the life extension of existing assets. In particular, the team has extensive experience in site-based testing and diagnostics which will enable Atkins to provide power generation clients with a complete asset condition review and advice on the safest, most cost effective solution to a wide range of issues." TSS also brings industry leading expertise in biomass generation and in establishing grid connections to wind farms which will help to place Atkins at the forefront of other developing energy technologies that will form part of the future power generation mix.
Atkins acquires complementary skills in the power generation sector WS Atkins plc ("Atkins" or "the Group") has acquired the Technical Services Scotland (TSS) consultancy and technical support team from RWE npower's Bellshill Technical Services group for a cash consideration of £785,000. The 29-strong TSS consultancy team brings expertise in electrical and process engineering, control and instrumentation, metallurgy and site-based testing and diagnostics for power generation facilities. These skills, when added to Atkins' strength in power sector mechanical, structural and civil engineering provide the Group with an even stronger platform from which to grow in the energy sector.
http://www.investegate.co.uk/Article.aspx?id=201103140700078330C
Despite challenging trading conditions, WS Atkins (ATK) is confident for the full year as the engineering consultant continued to perform well and trade in line with its expectations for the period from 1st October to date. Following the acquisition of The PBSJ Corporation in October, the group added that the results for the first four months of ownership was in line with its expectations and integration was progressing well. WS Atkins shares climbed 9.5p to 696p.
WS Atkins started with underperform rating at Credit Suisse, TP 609p. Just a month ago most brokers were giving this a 7.20 target price. On what basis are Credit Suisse giving such a huge downgrade when results are not even out for 2 more months?
any reason why the big drop today? I know there is the news of the slowdown in the economy, but we are at 6 month lows and the other engineering companies are at 1 year highs!
Consultant engineer puts test off till September as talks with lenders over estimated £90m debt continue Consultant engineer White Young Green has deferred a covenant test date for a third time as rescue talks with lenders continue over its estimated £90m debt-pile. The date has been moved until the end of September and is expected to be rolled over for a fourth time to the end of October as talks continue. The waiver means the company will not breach lending terms as a result of its high debt, a move that could result in its bankers pulling the plug on the company. In a statement to the City this morning, the company said: “The board expects to announce the group’s final results for the year ended 30 June 2009 during the second half of October Read more: http://www.building.co.uk/story.asp?storycode=3147734&origin=bldgdailynewsletter#ixzz0PrZbZOWJ
- one would assume that some public sector expenditure may well get curbed as the UK and other governments start to get real and projects placed on hold , a worth read re pensions posted , hope you all made good monies over the last few months , I am now looking for bearish trades as the full trading and reality season starts to get under way , gl http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6804536.ece#cid=OTC-RSS&attr=1185799
most analyst have set the target price of 600 and in 12 month price of 1000
on an indifferent market morning and 6% up,not bad.On a better day this could have achieved the 10% mark,which may be achievable in the next few days.
Some 70% of its business comes from the public sector / regulated industries, has a strong order book for the current year (c.85%) of anticipated revenue already secured , cash of c.£165m on its books on first half results - Yes some of their Middle East projects may slow down should the price of oil decide to turn pear shaped? , but governments are focusing on infrastructure development and if they pull key projects , then they will only have to call in WS to re-run the figures again which is a profitable exercise in itself. Big sell off in January / February and should the FTSE and DOW not decide to dive to new lows ? then WS might well be approaching some sought of level of support and could be one to consider, gl
....that's better! :-D
I am looking forward to the announcment of ATK interim results on the 27th. Hope the current climate doesn't cloud this usual growth period too much.