Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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With average month-end cash more or less equivalent to market cap & no pension liabilities. Share buy back will make a relatively small dent in the cash pile but should propel the share price higher. They're doing a great job!
8p Dividend (5% yield) and £15m share buy back
I cannot find any shareprice forcasts for this share is it flying under the radar .
asI travel around the country I am amazed at how many large scale civil building projects that are in operation .So there is plenty of work around .
Simply that they need stock. A buyer is waiting so they tempt you with 10p
They could be gambling on a future rise but MM's should not be gambling.
Set the price are willing to pay and put an order in to be filled at that price when the market first opens .
This has baffled me for years with some shares. Others are understandable due to out of hours dealing and on other markets such as the US but in the case of here I'm non the wiser. It has however made me a few bob on occasion when I have dabbled in day trading. One day somebody will explain it to me and we will all be the wiser for it.
Noticed that often traders mark GT up by 10+p at opening time following which it falls during the day. Today for instance it opened at 181 and finished at 173p-almost the same price as the previous day. Any idea why?
In case you missed our webinar with Galliford Try (GFRD), the recording can be found on our YouTube channel: https://youtu.be/XW7p7tIkwSc
Now ex interim dividend (2.2p) - Share price moving forward.
walkley; yes good results; the key comment in the RNS for me was, if going forward, the cash at hand increases from £180 mill, any excess will be returned; quite explicit and specific that. I also like their rationale for holding so much cash. Slow but sure this, slowly accretive to both SP and yield in the long term.
Excellent half year results - dividend up 2.2p (1.2p) over £200m cash.
We are hosting a webinar with Galliford Try (GFRD) on 8 March 2022, which may be of interest to current shareholders or potential investors. Andrew Duxbury (Finance Director) will be presenting. You can register here: https://www.sharesoc.org/events/sharesoc-webinar-with-galliford-try-gfrd8-march-2022/
Great stuff. Good to see interest returning. Been consolidating recently. But business is performing well. Should be sustainable growth ahead, with a focus on profitable contracts.
GALLIFORD TRY APPOINTED TO MAJOR NORTH WEST FRAMEWORK
Galliford Try, one of the UK's leading construction groups, announces that its Building and Highways businesses have been appointed to a major new public sector framework in the North West of England.
The £1.8 billion framework is the latest iteration of the Procure Partnerships North West Framework, which is open to public sector bodies across the region to bring construction projects to market. Galliford Try has won places on six lots in total, three for its Building business and three for the first time for its Highways business.
Bill Hocking, Chief Executive for Galliford Try, commented: "The Procure Partnerships framework is a fantastic example of the kind of collaborative, progressive framework that forms a key part of our Sustainable Growth Strategy. We are delighted therefore to have retained our place on the Building framework and to have gained places on the infrastructure lots for our Highways team. We look forward to working with all the stakeholders involved to create fantastic public facilities and infrastructure for local communities across the region."
Is the above new or old news, overstating accounts £80 million.
Sharemaster, if all that pans out over the coming years what could a possible sp be in 2024?
Full details
https://masterinvestor.co.uk/equities/galliford-try-holdings-debt-free-and-increasingly-profitable/
Old market hands like me would consider this group to be one of the UK’s house builders, but we would be wrong. It used to be – but is no longer.
Today
Having exited its house building and regeneration businesses in early 2020, Galliford Try Holdings (LON:GFRD) is now a leading UK construction firm employing some 2,700 people across the country.
Today the focus of its work, for its public and private sector clients, is upon providing vital buildings, highways and the environmental infrastructure.
It concentrates upon winning business in the health, education, defence, highways and the environment sectors.
It operates under two main banners – as Galliford Try and as Morrison Construction – no doubt we have all seen these companies’ site hoardings spread across the UK.
Its order book is very healthy
In October last year the group’s order book totalled some £3.3bn. That figure was made up on its building side – worth £1.92bn and split as follows: Education £530m; Defence and custodial £389m; Health £300m; Facilities Management £403m; and Commercial £289m.
On the infrastructure side the group’s order book stood at £1.35bn: Highways £512m; and Environment £836m.
Overall, that worked out at 91% of its business from the public and regulated sectors, while the private sector made up the balance 9%.
Some 87% of the group’s order book is in ‘frameworks’.
Trading Update
A couple of weeks ago the group announced an Update on its trading in the interim period to end December last year.
It stated that the group was performing well.
The average month-end cash balance has increased in the first half from around £164m to £180m, while its cash balance was a very healthy £210m.
In that period its order book was increased to £3.4bn as at end December.
Its equity is institutionally backed
There are some 111m shares in issue. Large holders include Premier Miton Group (12.13%), Standard Life Aberdeen (5.36%), Aberforth Partners (5.27%), JO Hambro Capital Management (5.17%), Threadneedle Asset Management (5.16%), Dimensional Fund Advisors (4.97%), Brewin Dolphin (4.66%), Hargreaves Lansdown Stockbrokers (3.81%) and Jupiter Asset Management (2.61%).
Broker’s View
Analyst Joe Brent at Liberum Capital reckons that the market has not yet factored in the successful turnaround for the group.
He considers that the strong pipeline in the building division will add to the group’s margin progress. Brent rates the shares as a ‘buy’ having set a price objective of 270p a share.
Market Estimates
Consensus estimates for the group’s performance over the 2022 to 2024 years are bullish. Revenues of £1.22bn (£1.12bn) for 2022, £1.29bn for the year to end June 2023 and £1.36bn for 2024.
In the same period pre-tax profits are expected to rise from £11.4m in 2021, to £16.5m this year, £20.3m in 2023, then £23.7m in 2024.
Update on Current Trading
The Group is performing well, with trading in line with the Board's expectations. We have made further good operational progress in the half year and continue to execute against our Sustainable Growth Strategy.
All of the Group's projects are fully operational in line with the latest Government and industry Covid guidelines. Our disciplined approach, investment in modern construction practices and digitalisation, and active engagement with our supply chain have proved particularly important during the recent period of materials shortages and inflation. We continue to manage these challenges effectively and without any material impact on trading.
We are making excellent progress with the integration of the nmcn water businesses, acquired in October 2021, and are pleased with the commitment and contribution of all those associated with the acquired business. The half year results will include non-underlying costs in respect of the acquisition and integration, and in relation to our investment in cloud-based enterprise resource planning (ERP) systems.
Intraday reversal started yesterday. Hopefully just PIs selling based on covid and lockdown concerns. But what we saw last year is that lockdowns don’t affect the company, so am surprised by the pullback.
Ugly drop over the last two days, but I'm still holding...
GALLIFORD TRY APPOINTED TO £7BN GOVERNMENT EDUCATION FRAMEWORK AND £55M GALASHIELS CAMPUS PROJECT