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Will this share price ever stop falling?
Costain is delighted to announce that it is a founding member of a ground-breaking consortium which will create an infrastructure ecosystem to bring the benefits of hydrogen to the Southwest of England.
The Hydrogen Southwest partnership comprises a group of nine leading organisations covering aerospace, shipping, hi-tech engineering, and public utilities. This infrastructure ecosystem of key industries aims to decarbonise transport, commerce, and power, while driving sustainable growth, upskilling the region, and delivering new job opportunities.
Focusing on key sectors such as shipping, aviation, and housing as well as industry, the consortium comprises leading companies easyJet, Airbus and Hynamics (EDF); industrial heavyweights GKN Aerospace; consultants and engineers Costain and Wood; and regional leaders Bristol Port, Bristol Airport, and Wales and West Utilities.?
https://www.costain.com/news/news-releases/launch-of-hydrogen-south-west-consortium-to-accelerate-the-transition-to-a-net-zero-future/
https://www.hydrogensouthwest.com/
All the ******** on the management level needs to be sacked .
I really hope we get takeover offer something,otherwise I can not see getting out this ****.
" management bring no value to the table"
they bring £1 billion of revenue for 2022 - problem as always is the operating profit margin
and I suspect the market is predicting a margin cut due to elevated costs etc
Worth less than cash on hand, management bring no value to the table. Clients are sure to look at that market capitalisation and wonder if it is worth the risk awarding contracts to a company rated so poorly by investors. They also have form for walking off the job.
To spare further embarrassment management should take the company private, but then who would they tap up for more capital.
Down to 35p and under £100m market cap, Costain is a minnow now.
Management have royally c*cked this up over several years and one wonders if they've priced and are executing their current contracts correctly. Time will tell of course but, based on past performance, the jury is out.
Very frustrating share - wish I'd never got involved.
Very difficult share to make profit . Once it settles in lower range , it absolutely get pinned down. Still -3k can’t get out from it can I .
It is taking a very very long time for this to get and stay above 40p.
They appear to have 33p on the balance sheet for every share in issue, net cost per share... 6p
OK I'll give it a go...
Could be a takeover target...., that Is if there was anything at all happening in the market....
I asked this question on the latest earning call - they gave the answer that in most contracts they are protected by fluction clauses however, I was not entirely convinced in the answer. This is not typical is contracts until AFTER an high inflation environment.
Is there anyone with experience of the construction industry who can shed some light on how rising materials prices are treated by Costain, their subcontractors and their customers? Who takes the hit?
No drama.
I think when the CEO says hes going to have new strategy..less risk and more money % age wise, I think everyone in the industry would say yeah? Consulting may be higher margin and less risk, but everyones at it and its also less turnover so TO x % may be equal or less who knows. No real update on that as yet.
No huge bad news though as far as I know....
Thanks for the reply Roguemale1.
You are right, I missed that Kier is similar graph wise during covid.
GFRD had a rights issue in 2018.
Kier had a rights issue in 2018.
BBY had a rights issue in 2019. (acquisition purposes)
Costain rights issue in 2020.
MGNS has no rights issue. (from my research)
Costain looks undervalued to me, just surprised the trajectory of competitors were better. Perhaps it's just due to bad management. I didn't realise bad management could be this impactful, perhaps it's also just bad luck!
Well Kier are pretty similar graph wise?
Have the other 3 had rights issues?
Been no good news here really for a while and the City don't like the CEO allegedly though they voted through his remuneration so maybe that's wide of the mark..
Out of intensive care, now on the ward I think.
In theory there is an upside here but patience needed for sure.
Sorry, newbie to Costain here.
I've been comparing it to KIE, MGNS, GFRD and BBY.
Why did Covid impact them so much unlike the others? Historically it's had other problems but from the charts there is a noticeable dip due to Covid and this has just continued.
Do we know if Mr Golby will run down his full 12 months or can we expect a speedy decision on appointment of his replacement?
Yes, we are consuming the local Tuscan Brunello. Back home tomorrow. Atm, Costain is but a distant irritation in my portfolio but I will sit it out.
Sante'
Ah excellent.
In France myself topping up the vino and wandering about, so not listening in.
I hope the institutions vote down the remuneration but they wont I guess.
I guess here, trading in line eventually becomes a plus!
Enjoy a few glasses of red.
Roguemale1
Cycling in Tuscany this week - Montelcino.
AGM in 45 mins. Hope the vibes are good.
Shame about the Southampton Fawley job going to TW. They should have done a JV and reduce the risk on this large job.
Glass half empty instead of full has driven the sentiment in the last year.
Anticipating a reset shortly.
Costain secures Ofwat funding to lead innovation in the water industry
https://www.costain.com/news/news-releases/costain-secures-ofwat-funding-to-lead-innovation-in-the-water-industry/
'Nod and a Wink ' might be driving it, learning that they might not need to borrow, hopefully.
Filtered...number 62 in the bin......next
"dont say I did't warn you" - says the guy who is 1 post old on LSE. Who is going to believe you mate?
We won't.