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Excellent news!!! GFRD announces the payment of a special dividend as a result of funds received. 12pps, Xd 5 Oct 23, Pd 27 Oct 23. Rgds, S
Wow!!!
The business was successful in its bids to win the Air & UK Strategic Command and Munster Barracks, Catterick lots, which have an approximate value of £387m, and include refurbishment, new-build and single living accommodation projects at RAF bases and Strategic Command facilities across the country, and Catterick garrison.
Dividend day once again and monies already in my accounts. A good week overall for GFRD with yet another contract win. Let's hope the week ends on a high. Slow and steady seems to sum GFRD up. Continued good fortune to all GFRD investors, potential investors and those just watching for now. Regards S
In case you missed our webinar with Galliford Try (GFRD), the recording can be found on our YouTube channel: https://youtu.be/0fkQekGFHgs
A solid hold here for me.
Nice to see yet another new contract (£75m) awarded to GFRD. Good to see there is a lot going on and lets hope these contracts soon translate to a decent rise in the share price. Continued good fortune to all GFRD holders or those considering getting in here. Regards, S
"A week without a new contract award is a week wasted!!!!"
Congratulations to GFRD on yet another framework contract this time with MoJ. Slow and steady seems to be the order of the day with this company and it is doing it well. Continued good fortune to all GFRD investors. Regards S
Rather than create a competitive tender for every piece of work. SW create a framework contract for types of work, which they can call on contractors to carry out, within the cost parameters of the framework contract. Having a place means that GFRD can be called on to do works without any further competitive tender. Least that's how I understand it.
https://www.lse.co.uk/news/GFRD/galliford-try-lands-place-on-gbp600-million-southern-water-framework-gwrydqyq3jow77l.html
Hello, I did not quite understand the terminology of the Southern Water "lands place". Does this mean that we have won this contract or not. Can someone please explain.
every blessing
Rev Shep
Sound results for me continue to hold interesting will be out come of this.
As previously disclosed, the Group provided services in respect of three contracts with entities owned by a major infrastructure fund of a blue-chip listed company. Our work on these contracts formally ceased following their termination in August 2018. Costs were significantly impacted by client-driven scope changes and the Group has submitted claims and variations to the value of circa £95m in respect of these costs (June 2022: £95m). The Group has taken extensive legal advice on our entitlement, and we have been successful in two adjudications supporting the validity of the Group's position. The claim is progressing in line with the expected timetable, with all associated legal and professional costs expensed or incurred. Taking into account the requirements of IFRS 15, the Group had constrained the revenue recognised in prior periods to the extent that it was highly probable not to result in a significant reversal in the future. At 31 December 2022, the Group has reviewed its assessed recoverability in accordance with IFRS 15. Given the progress, in line with expectations during the period, this is unchanged. The Group has also reviewed its expected credit loss provision in accordance with IFRS 9 for which there was no material change in the required provision since the prior year end.Good luck all.
Great results imv and divi increase should underpin sp, only bit i did not like was reducing cash position - however company has been buying other businesses.
Positive half year report today. Interim dividend of 3pps which is a 36% increase on previous year and will be paid on 14 Apr 23. All in all looks and feels positive. Next results due 12 Jul 23. Continued good fortune to one and all. Rgds S
ShareSoc is hosting a webinar with Galliford Try (GFRD) on 22 March 2023, 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-gfrd22-march-2023/
Good read across from Morgan Sindall MGNS FY results to end Dec in terms of market demand and inflation expectations.
GFRD have mentioned a slight risk of slightly longer decision making by customers due to high inflation. Doesn’t appear to have impacted MGNS too much which they specifically talk to. However remains to be seen if GFRD was slightly more exposed due to smaller size.
‘
Where projects are being priced for future delivery, the inflationary environment has continued to place some project budgets under pressure particularly in Construction & Infrastructure, which in turn has led to some delays in decision-making and project commencement. However, these have been minimal in number, with generally most of the public and regulated sector clients which the Group serves indicating that committed spending on capital projects remains in place.’
A bid target. Sitting duck.
With £154m average cash balance and a market cap of £178m gives an enterprise value of £24m and earnings of circa £20m means an EV/EBITDA ratio of just 1. Cheap as chips at these prices.
May todays announcement of the 1st contract award of 2023 be the first of many. Albeit only £95 million however it is a good start to the year. Keep them coming please Galliford!!!!!!!
Hi Slomo, Lets see if 2023 proves to be fruitful for us all then. Good luck with all your holdings. Rgds S
Hi saintly, glad to see we have a few good companies in common, and I so agree that they need and deserve to do better in 2023
Here is hoping that 2023 see's a steady but decent rise in share price. Not going to set targets but I would like to see a decent rise for GFRD. Continued good luck to all on this board be you investors, potential investors or those just watching. Good luck and success to one and all. Per ardua ad astra!!!! Rgds Saintly
Naughty bid @2ish. Knocked my position out.
A good set of results and a very healthy and well received dividend. How long will it take the market to realise that this company is seriously undervalued? Long may we see GFRD on an upwards trajectory. Continued good luck to all GFRD investors, those considering buying and those just monitoring. Regards S
Results are very good. Surplus cash to initiate £15 million buy back.
As stated it is not a highly liquid stock and as such I am surprised that this isn't creeping upwards at a faster pace in what,to me, ought to apply constant buying pressure..I have of course been wrong before. Perhaps,as someone mentioned a while ago,it's under the radar.