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When Hugh Pelham joined Gateshead’s Wood Group Industrial Services – then called Pyeroy – it was focused primarily on protective coatings, employed 600 people and was racking up revenues of £35m.
I stand to be corrected but above company was sold to the far larger Wood Group. Hugh Pelham then left? Similar names but…thoughts?
wood groups half year results are out today all a bit of a mess imo.
i believe that is where we got hugh pelham from and was wondering if carrs will be targeting some of wg customers as hugh will have intricate knowledge of there operations and contracts and weaknesses .
can't really see any other reason for his appointment unless carrs is targeting expansion in the engineering part of the business .
Yes steady performance. No dividends have been missed. Slow recovery to £2 hopefully. Just "fit and forget".
rock solid performance by carr should have a good couple of years ahead imo.
market is very nervous at the moment due to covid - inflation- and constant gaffs by govt.
but i believe that we are in a solid sector/company with good divi and growth potential .
plus if the world is going too hell in a handcart cash will not save you so i am holding.
i do hope that hugh pelham is better at his day job.
as he is certainly no media star like watching paint dry.
https://twitter.com/edison_inv_res/status/1390653494948990977?s=21
I've been holding some of these shares for quite a while and see this as a positive piece of news. BAE are a huge company - much much bigger than Carrs - so for them to be buying this number of shares is fantastic news. They must see Carrs as a company on the up
Makes them the 3rd largest shareholder I think. Don’t believe been involved before unless via a Fund Manager...perhaps they now managing their own Pension Fund. It’s a huge number of shares to acquire over recent weeks.
that's very interesting BAE pension fund has bought in to carr .
does anybody know if they have ever held here in the past ?
I think they more likely will buy something in Europe that fits Engineering and then list Carrs Engineering on own. Huge upside in Engineering and that’s Hugh Pelham’s ‘bag’!?
Exciting times ahead hopefully after a rather dull five years albeit great dividends and a steady ship.
Just gone through the half year results in detail. When allied with anaylst comments and the wider market conditions I wonder if a buyer is being sought for the relatively small engineering business, so that the proceeds can be invested to build and strengthen positions in the agricultual businesses.
Time will tell.
Dividend payment back on track things returning to normal.
Positive report with, for me, the key comment:
"Considerable opportunity exists to optimise the current portfolio through a process of standardisation, simplification and seeking synergies between similar businesses. Growth can be achieved through a mixture of geographic expansion, selling all our service lines to our customer base, and acquisition and potential industry consolidation."
New Zealand becomes the first country to introduce a law that will require financial firms to explain how they would manage climate-related risks and opportunities.
Carrs have been at the forefront of investing in products that reduce Carbon emissions in both the Agri business and of course their Engineering side. Aminomax being a prime example of reducing Carbon emissions in Dairy herds. It’s time Carrs were recognised for the huge investment they have and continue to make in this massively important area. They are at the forefront of many businesses. Perhaps some mention of the Agi and Engineering Carbon reduction products would be appropriate in next weeks half year results. ??
yes cannnot disagree with that.
His new tax 'super-deduction' policy kicks off next month until March 2023 . It will allow companies like Carrs to cut their tax bill by up to 25p for every £1 they invest in qualifying new assets like machinery etc.....
1. Lots of opportunities for famers to go and buy new equipment
2. Engineering business may also benefit
Looks like Hugh Pelham and other directors (wives) buying in now .Steady as we go. Divi tomorrow I will reinvest.
looks like the big shareholders are not happy with the boards remuneration packages.
have to say this company does seem to behave like an old boys club and more interested in themselves than the shareholders.
bunch of plodders that just plod along .
hope the new ceo has more ambition and drive.
Looks like a strong start particularly in Int Agg. New broom in so will be interesting to see any changes, probably post pandemic.
Thoughts anyone?
Valuation: Indicative valuation of 170p/share
Our DCF analysis gives an indicative value of 170p/share (unchanged). This approach ascribes a value to the group that looks beyond the uncertainty caused by Brexit, as well as the short-term order delays that are specific to the group’s Engineering division. Confirmation that Carr’s diversified business model can address issues caused by Brexit uncertainty plus news of the major delayed engineering order should, in our view, help move the share price back towards our indicative valuation.(Extract from Edison report just out)
History of company explains it all, Carrs biscuits factory to carrs mills (These now sold) to agricultural suppliers to feed mills , engineering for farmers to engineering nuclear at Winscale (now Sellarfield) ETC.
Results as expected, glad to see dividend restored now seems cemented in.
Always struck me as an odd combination of businesses. Can help but feel that in the current environment, a joint bid by separate players in argicultural and engineering would allow both businesses to better flourish within larger groups. Will remain invested here and, in the meantime, enjoy the dividend.
not good in my opinion engineering side struggling and likely to have another difficult year .
agriculture division just plodding along.
animal feed and supplement side struggling with mild weather etc.
company not in any trouble but just not going to make any great inroads in the present climate.
need a good brexit deal and a bad weather winter.
i have taken profits as think this may well drop but i will be back as i like the company.
good luck to all. dyor this is just my opinion
Positive results in a difficult year and also looking good going forward .
Once the vaccine is in full use will allow them to move forward in a more diverse way .
Any thoughts for tomorrow?
2020 Interims at £10.5m PBT. Only £5.8m In second half to be same as 2019 finals which were £16.3m.
I think they were expecting about £18m finals for 2020 so with Trading update in March (profit warning) we should be roughly same as 2019? ?? Or better?