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Today's RNS sounds good. I assume they will calculate 'probable revenue' and add it to the 'order book'.
That's great news
Hi Slave
I guess we're both DJ supporters but I think there's still money to be made here..Fortunately I was warned before the HoV initial drop so got out and got back in.
When you ask about cash in bank, who's account would that be ???PMSL.
I think all good, he's just very cautious. Divi return will make a difference. HA stuff will blow over. Plenty coming at Aldermaston I hear. We should have a beer with my ex COST bud, that would prob shock both of you..
Morning Rogue, sadly yes - need to get to at least £1-50 before I can realistically bail.
Would love to know what the current cash in bank is......
I'd also be interested to know what the GPM was on the Preston Job - great news that the scheme delivered on time and in budget - but have they made money??
Https://www.theconstructionindex.co.uk/news/view/costain-delivers-207m-preston-road-scheme
Delivered on time and within budget. Good of Costain to have reduced my commute time but they've also reduced my share value massively!
The Directors like the freebies I'm afraid. Been a while since actual money was employed....
Hey Slave, you still got skin in this game?
At a quick glance COST appears to be well under NAV (does is it somewhere around £1.19p/ share) yet the directors haven’t bought any meaningful quantities of stock. Is this correct or am I wrong? are any of you guys aware of any significant buying? Cheers
Https://www.constructionenquirer.com/2023/06/30/super-sewer-contractors-safe-from-thames-water-crisis/
hopefully should get paid!
Brilliant rns today from costain Here is a summary in link below. They have cut 8.5m in payments in a year! Huge. Cash in bank at dec was 124m. Mcap is 125m. One of the best recovery plays to come. Expect divis soon
https://www.constructionenquirer.com/2023/06/30/costain-cuts-payments-to-company-pension-scheme/
Ftsefan - If Liz & Co were still in 0ffice (not power) the 15% needed for govt debt might have had a negative effect on, well, everything. Except unemployment?
I've just said goodbye to a shed load of other gains, placed on an AIM "good story"
Hoping for better here.
Https://www.constructionenquirer.com/2023/06/22/five-land-485m-magnox-clean-up-deal/
Hope the full money comes forward - quick sums if split evenly would be roughly £100m over the 6 year contract - £16m/year........ - hopefull as of right awards and no mini bids required.
The capital funding market is absolutely huge going forward and the biggest risk is the experience and labour to do it. plus can the gov, regulators push all the costs upon customer as we are as a country in so much debt. billion in water, nuclear, power generation coming
i've been in costain along time. i bought some more two weeks ago at 53 p as at some point the vol business will transfer into cash because they seek out higher margin, guaranteed business.
the few cases implying a loss on the order book are minimal, i think they are re-aligning and its a positive, overall picture
Surprised me!
Funny, was just noting that the share price this morning was down at 41.9p and wondering what will it take... and pow!
Wish that happened with my other shares which I look at disappointedly!
That has surprised market
Things must be getting desperate if people want Liz Truss back. Costain were consultants on this (and presumably they got paid for their consultancy advice), not the contractors, so they haven't lost anything.
Anyway, I don't mind Costain holding out for higher margins in a threadbare margin business, just so long as they are able to score some 'juicy' contracts somewhere along the way.
The problem with turnarounds is they are slow and fraught with risk.
The report says;
“We were contracted to work on a consultancy basis and so the Council’s decision to suspend the scheme will have no material impact on Costain or our future order-book
i think this will become more and more a standard comms as inflation bites, gov funding bites and everyone is starting to make choices of what can and cant be afforded. i also know there are huge projects coming through across the uk from all utilies and more in the next five to six years which will need a huge number of contractors on board. costain wont be short of work, i'm half expecting them to get bought
Well that will explain why we were having a steady decline for that last few days.
Wish Liz Truss was still in power now. At least she would have thrown money at investing in the UK.
Come on Contain pull something out the bag.
Https://www.constructionenquirer.com/2023/06/19/costains-planned-m6-link-road-job-halted-over-costs/
Quite a few buys today. On level 2 the buys volume outlays the sells quite considerably.
I've been topping up for months at up to 52p.
Beginning to wonder. :-(
Well, it doesn't take much for sentiment to turn sour with this share. Just a few weeks ago we hit 60p and I thought we'd finally turned a corner. Underlying feeling in the market, which COST can't seem to shake off, is that the company can't price and execute their contracts correctly. We need a good few quarters of positive updates to begin to prove otherwise.
Bit of a dud this investment.
Unvrkw thanks for the response, what sort of time span would you be looking at for these new projects to be staring up?
These contractors are now not looking for revenue but margins and more money. the amount of work out there now is huge, massive projects across the uk patch and gov will continue to fund to support sectors and remove recession fears too. there is huge swales of work so they start picking and choosing far more like the rest too
59p is all I need and then I can get out!
It is going to take a very long time for this get back to any real value. Not until they start paying a div again.