The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
moving along today
did notice... and then read... and am interested for £55m mcap?
The Directors are now confident that revenue for the current year will exceed these full year expectations and anticipate revenue being circa £340 - £345 million, with net margins within the anticipated range previously set out above, but more specifically between 1.7 - 1.8%
No-one interested?
Not much to consider really. If no more legacy contract issues that profit of �8-10m this year with �12k net cash or something like that and a load of real assets (buildings). No pension fund deficit. With a market cap of about �31m you don't even need to work out the P/E. It's somewhere between 3 and 4. Only the legacy contract holding the price back and the lack of coverage of small cap stocks. First point will resolve itself sooner or later and they have provided already their best estimate. Second point goes away as the turnover goes up. Once the turnover gets to �500m things will look very different.
Looks interesting following the Final Results this morning. Growth, 90% of this year's billing in bag, cash on the up, legacy contract issue now behind it it would appear. Very low rating on a p/e and also forward underlying EBITDA vs EV basis. Yield on the up and with clean 2018 numbers this could be increased again. Do your own research etc, but would appreciate your views. I have looked at other boards and seem pretty positive. Does anyone have a view here please as this thread looks very quiet. Am thinking of buying.....Thanks.
Mr. Charlton buys again. Stake lifted by another 1% after what I assume was his 50k buy yesterday
I recall covering this when it was in £1 range Now £4! Approx 300%rise
For those of you wondering if this is still worth it: heres my take: hTTp://moneygenerationxyz.com/stock-moment-north-midland-construction/
I'm still in, my gut feeling says it's going up for rest of this year! Long term to unpredictable in general!
You were right. Pity I missed it. Still a buy?
With some new impressive contracts awarded to the building division on some decent turnaround figures expected this year I see a big leap upward in this Share following the year end. Recently appointed "New Business Development Manager" must be paying dividends. Talking of Dividends let's hope a decent dividend can return following the recent success.
Operating profit in the year of £0.85m (2014: £2.85 million loss). · Revenue increased by 12.7% to £217.61 million. · Underlying profit before tax, excluding legacy contracts, increased to £4.45 million. · All the Joint Operations are progressing satisfactorily. · Positive first year for devolved Building division · 85% of revenues derived from ongoing frameworks. · Secured workload for 2016 at circa £181 million (2015 £155 million). · Cash position remains strong. Year-end balance of £6.62 million (2014 £5.28 million).
from may statement: The Board is acutely aware that the financial performance of the last two years has had a significant effect on shareholder return and value, with the decision not to pay a dividend being particularly unpalatable. However, it was decided that cash should be retained within the business and that a prudent approach should be adopted. The current economic climate is more benign and the Group's prospects for growth are very encouraging on the back of the already secured future workload. The resolution of the few remaining legacy contracts still remains outstanding, but the Board remains cautiously optimistic for the year. The restoration of the dividend, as soon as possible, remains the prime objective. well worth watching imho
slowly does it!
and a director buy to complement (albeit smallish)
However, the underlying profitability and revenues of the business for the current year continue to improve and are ahead of management's previous expectations. The aforementioned settlements have also resulted in a cash inflow of circa £1.5M with a further £900k expected before the year end and therefore the year end net cash position will be in line with expectations.
TRADING UPDATE North Midland Construction PLC provides a trading update for the year to 31 December 2014. The resolution of certain legacy contracts in the Building & Civil Engineering division, as referred to in the half year statement issued on 22 August 2014, has now been concluded and the settlement figures expected have not been achieved, resulting in additional total losses of £700K. This leaves a total of 3 problematical legacy contracts to conclude and a further prudent review has led to additional provisions of £2.0M being made. As a result of these negative settlements and further provisions, management now expects an unadjusted loss for the full year. However, the underlying profitability and revenues of the business for the current year continue to improve and are ahead of management's previous expectations. The aforementioned settlements have also resulted in a cash inflow of circa £1.5M with a further £900k expected before the year end and therefore the year end net cash position will be in line with expectations. Whilst the resolution of the legacy contracts continues to be problematical, the number outstanding has diminished and both the underlying performance of the business and outlook are encouraging.
some interesting statements from half yearly reports: "Profit/(loss) before tax increased to a £0.37 million profit (2013: loss of £0.48 million)" "Current order book for work to be undertaken in this financial year is £178 million (2013: £160 million)" On the B and CE division: "Pleasingly, the underlying business is now trading profitably and the division continues to perform well for longstanding clients such as Tata Steel, Western Power Distribution (WPD) and East Midlands Housing Association with one recent award being for a £3 million office block in Grove Park, Leicester, which is due to commence in September" On the Utilities and Highways division: "Secured revenue for this year currently stands at £24.60 million, so the second half-year will show a significant increase and a return to profitability." For balance only issue is negative cash now but banking facilities are in place. Decent prospects for £12M Mcap I feel so will place it cautiously as recovery play if legacy issues are sorted.
On radar again...will see if/where it settles.
Should have got in on the bell!
just sent out a tip for this one
CHAIRMAN'S STATEMENT The result for the half year is a major disappointment with ongoing problems in the Building & Civil Engineering division (B & CE) negating the results of the remainder of the Group. A group loss of GBP0.48 million before tax was delivered on a Group revenues that increased by 19.4% year on year to GBP89.39 million. This compares with a profit of GBP0.12 million on revenues of GBP74.87 million in the previous year. Major problems have been experienced within the B & CE division during the period, with the division recording a loss of GBP1.58 million (2012: GBP0.67 million) on a revenue of GBP16.81 million (2012: GBP13.08 million). Completion on the major problematical contract has still not been achieved and there were significant cost overruns on two other projects. The current market remains extremely competitive with the result that tendering failed to produce the required return. Restructuring of the division had already been instigated and redundancy costs have been incurred. Further cost reduction measures have been implemented. The division is being scaled back to accord with current market conditions and the primary focus is to complete the major loss-making contract, which, as previously reported, will be the subject of a major contractual claim, which offers the opportunity of a potential significant recovery. Once this contract is completed, the division's performance will progress. The NMCNomenca division has returned a profit of GBP0.87 million on revenues of GBP37.29 million, compared with GBP0.79 million and GBP26.00 million for the previous year respectively. The division is delivering increased revenues, due to the recently incorporated frameworks of Anglian Water, the Southern division for Severn Trent Water and a contract for Ostara in Slough. The division's performance and total turnkey capability is developing an enviable reputation in the water industry and should hold it in good stead for the AMP6 bidding process. The E5 consortium, which is undertaking a collection of major projects for Severn Trent Water, continues to progress and the overall prospects are encouraging. The division will deliver a return for the year in excess of budget, and the overall progress is very encouraging. This is the first year that Nomenca, the mechanical and electrical subsidiary, will be reporting on a stand alone basis, with none of the revenue or profit emanating from NMCNomenca being repatriated into Nomenca. The six months results up to 30 June 2012 have been adjusted, so that this year's figures can be judged on a comparative basis. The subsidiary continues to progress on the back of robust expenditure in the water sector. Whilst revenue reduced by 9.4% to GBP19.77 million (2012: GBP21.83 million), profitability increased by 75.0% to GBP0.18 million (2012: GBP0.10 million). The majority of revenue is secured through frameworks and this year, on a proportional basis, it is weighted towards t
Shares in North Midland Construction fell after the company's first half revenues dropped from £91.3m to £74.9m year-on-year after significant losses in the building and civil engineering division. Profit before tax fell from £1.3m to £0.1m, while earnings per share plunged from 12.52p to 0.23p. The proposed dividend was slashed from 2.5p to 1.5p. The firm's Chairman described the results as "disappointing".
CONTRACT WIN 12 May 2009 North Midland Construction (NMD) today announces it has been awarded a significant contract by KCOM Group (KCOM.L). This contract relates to the construction element of the high speed communications network for the South Yorkshire Digital Regions (SYDR) project consortium. Thales is the prime contractor for the project.
strange share price this.