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Results for the year ended 31st December 2011 Highlights: · Group revenue £183.8m (2010: £179.0m) · Underlying operating profit* £4.8m (2010: £7.3m) · Underlying operating profit* margin 2.6% (2010: 4.1%) · Underlying profit before tax* £4.3m (2010: £7.0m) · Profit before tax £4.9m (2010: £5.7m) · Earnings per share 9.69p (2010: 8.91p) · Earnings per share - diluted 9.64p (2010: 8.91p) · Earnings per share - underlying* 7.34p (2010: 12.44p) · Forward order book £190m (2010: £190m) · Final dividend per share 2.0p (2010: 4.25p) · Total dividend per share 3.0p (2010: 8.50p)
http://www.investegate.co.uk/Article.aspx?id=201203200700216515Z
N + 1 Brewin initiates buy on Clarke (T), target price 60
T Clarke (CTO) remains a "hold" for Panmure Gordon, with a reduced target price of 50p, from 85p, after the building services contractor achieved weaker than expected half year results. Adjusted pre-tax profits of 2.25 million pounds against the broker's forecast of 2.93 million pounds and net cash fell to 3.4 million pounds. With a similar second half performance anticipated, Panmure has reduced its full year pre-tax profit target to 4.4 million pounds, from 6 million pounds. While the dividend yield of 6.2% looks attractive, the broker notes that there are better ones available in the sector. Shares in T Clarke dropped 0.5p to 47p.
Arbuthnot Securities has altered its stance on T Clarke (CTO) from "buy" to "no recommendation" in light of a set of interim results that reflect inherent challenges in the group's current market situation. While first half numbers indicated high levels of tendering and some prestigious wins, its also uncovered a lack of recovery in the group's core markets, and thus the broker is in the process of adjusting its target price. The broker has reduces its full year earnings estimate from 5.5 million pounds to 4.4 million pounds, while adjusting its dividend forecast to 3p
Arbuthnot issued a "buy" rating for Clarke T (CTO), the electrical engineering and contracting company, with an increased target price of 115p, up from 105p. Although market conditions are not helping the group, the broker notes that management is holding firm, retaining market presence even at the expense of short-term margins, with markets expected to remain tough throughout 2011. Going into 2012, however, Arbuthnot said it expects to see an improvement in margins as more work is negotiated.
Mark Lawrence, Group Chief Executive commented: " The market that we operate in has continued to be challenging. However, we have made good progress to reposition the Group to enable us to offer a wider range of services to our clients. Both our recent acquisitions have made a useful contribution to the Group's performance. Looking forward, we are well positioned to benefit from the recovery in our markets. Despite the backdrop of a tough trading environment, we remain confident that the Group will maintain its industry leading position. Our strategy to create a broader platform will underpin our potential to deliver long-term growth in earnings and dividends."
http://www.investegate.co.uk/Article.aspx?id=201103180700091502D
T. Clarke beats lowered expectations By John Harrington Date: Friday 18 Mar 2011 LONDON (ShareCast) - Having lowered expectations in January with a profits warning building services group T. Clarke managed to beat those downgraded expectations with its full year results. Revenue in 2010 rose to £179.0m versus £175.5m in 2009 and against market expectations of £169.0m. Profit before tax slipped to £5.7m from £7.3m the year before. The market had pencilled in a figure of £5.63m. The underlying operating profit of £7.3m, down from £9.4m the year before, was affected adversely by prevailing margin pressure across the group and by specific trading issues in Scotland, company chairman Russell Race said. Net cash and bank deposits at the end of 2010 stood at £7.2m, down from £23.2m at the end of 2009. The order book, however, fattened up during the course of the year and was valued at £190m at the end of reporting period, up from £160m a year earlier. “The market that we operate in has continued to be challenging. However, we have made good progress to reposition the group to enable us to offer a wider range of services to our clients. Both our recent acquisitions have made a useful contribution to the group's performance,” revealed group chief executive, Mark Lawrence. Chairman Russell Race said the difficult market conditions which the group is enduring show few signs of abating but said the longer term prospects for the group are encouraging. “A number of large scale commercial developments in London have been started and this bodes well for the future. However, in the short-term, 2011 will be challenging not only for T.Clarke but for the wider construction sector,” Race said. As previously announced, the group, which paid 13p in dividends last year, has decided to rebase its dividend. A final dividend of 4.25p has been proposed in respect of 2010, making the full year pay-out 8.5p.
http://www.tclarke.co.uk/news/2/71/t-clarke-announces-trading-update-and-notice-of-results.html Worth a read
Preliminary 2010 TCLARKE PLC Earnings Release http://uk.reuters.com/business/markets/earnings
In trading statement in Jan board said they would bring final divi into line with interim. That was 4.25p best part of 5%, and then you will still get interim probably another 2-3p later. So first year (7/8 months) return should safely be 7.5% in dividends alone. These are a very cheap safe share that have a real value well into the 100's. There are not many such shares left these days!
Sorry this was a wrong post
I cannot see this going under a £1 ihmoody
Made £7 Million in 2010 - expecting to make £6.5 Million 2011 a dip of less than 10% yet share price goes down 30%. I don't think this'll be under £1 for too long especially as there's also a dividend on this. IMO
This is company is without any borrowing, and profitable, real a good chance to buy in now
I might jump back in here, totally overblown IMO
www.investegate.co.uk/Article.aspx?id=201002190700113759H
possible good un ror 2010 dyor - pays nice little divy as well
Sudden perkiness in this share this AM. Gleaned no news on enquiries. Anyone?
Wednesday 8th April 2009 Ex-dividend date Tuesday 14th April 2009 Dividend record date Friday 8th May 2009 Annual General Meeting and Interim Management Statement Wednesday 13th May 2009 Dividend pay date Friday 21st August 2009 Interim results for six months to 30 June 2009
A lot of large transactions yesterday whats going on! are they about to go EX D
Nice little divi there at 10% and results all look good, surprised this one has dropped. What was the market expecting???
Fantastic dividend and I like the intention to diversify markets. 2012 looks promising too. I will hold and maybe buy more if it dips. Group Turnover up 15.4% to £223.7m (2007: £193.8m) Adjusted Profit Before Tax* up 86.1% to £15.2m (2007: £8.2m) Profit Before Tax up 64.0% to £13.4m (2007: £8.2m) Adjusted EPS* up 85.8% to 26.63p (2007: 14.33p) Basic EPS up 54.4% to 22.12p (2007: 14.33p) Final Dividend up 8.0% to 8.75p (2007: 8.10p) Total Dividend for the year up 8.3% to 13p (2007: 12p)
These are excellent results - turnover up, profits up, dividend up. Against the present economic backdrop this is a great performance. The slight concern is the statement that conditions are increasingly challenging and visibility re business and profits next year is not so good. I'm staying with this one.