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At last !! RNS appeared near closing time,hence only a 13% price.Tuesday morn the SP should rise above 100p.Also good news from about other contracts in India & EDF agreement. On the downside - GBP 115M for the last financial year is below initial forecast of GBP150m. At last let the sun shine on RHL!!
The way the RNS is worded gives the impression that the BOD think the result will cost them, they are just not sure how much!
If the Vivergo judgement delays will RHL encounter cash flow problems? From Oct 2013, RHL needs repay Ponds 1M a month. Can RHL take any more loans?
Based on the following points; 1) RHL won both legal cases on lower courts 2) Lower courts gave judgement that Vivergo calculated the the work done using an incorrect methodology. 3) Vivergo stopped the project in Mar 2011 without giving fair notice although the project end date had passed. 4) RHL audited financial accounts show unpaid work of Pounds 5M. 5) Vivergo did not make any attempt even to call an independent surveyor to calculate the work in progress.
On the following points; 1) RHL won both legal cases on lower courts 2) Lower courts gave judgement that Vivergo calculated the the work done using an incorrect methodology. 3) Vivergo stopped the project in Mar 2011 without giving fair notice although the project end date has passed. 4) RHL audited financial accounts show unpaid work of Pounds 5M. 5) Vivergo did not make any attempt even to call an independent surveyor to calculate the work in progress.
regardless of company issues I think it was going to get a possible short term bounce following the governments Hinckley point decision
The new plant news does not give any real hope for a major improvement to the share price. Only an early decision on the Vivergo mess will do that. One lives in hope but the delay is very frustrating both to management and shareholders - many who are small investors. More interim info from the company would be a help.
Good news that UK Govt has given the go ahead for the new nuclear power station. Could be good for RHL.
The share has been in the doldrums for far too long. Good order book. Small amount of share in issue. Robust engineer with large sellafield contract and other high value orders. Is todays movement and flurry of buys indicative of a positive outcome in the Vivendi case.... potential upside if so...
I think i may have answered my own question. I found this cutting buried in the CEO's statement dated 6th Dec 2012. -- "The work on the Fellside boiler park completion contract has had a material impact on the performance of the Nuclear business as this difficult project has been the subject of significant delay and change. We are continuing to work with our client and the ultimate customer to ensure all outstanding issues are resolved by the earliest date." So looks unrelated.
Sorry if this is a dumb question, but I have only just started looking at this comapny. The latset RNS states: --- "The group also confirmed it had reached a resolution on the Fellside Boiler Park final account."--- Is this referring to the Vivergo dispute? I could find no references to Fellside Boiler Park in previous RNS's.
Shares of engineering support services group Redhall flew off the shelf after it announced it had been awarded a number of contracts across its nuclear and manufacturing operations. Redhall Nuclear has been selected as a strategic partner by AWE to provide mechanical and electrical engineering services to AWE, the Yorkshire based firm explained. The framework agreement is expected to deliver contracts with an estimated value of up to £50m over a potential four-year period, Redhall explained. Redhall Manufacturing has received orders totalling £7.5m across three contracts with the largest of the three contracts, at £4.1m, for Hyundai Heavy Industries on the new BP Clair Ridge project. The group also confirmed it had reached a resolution on the Fellside Boiler Park final account.
Redhall Group, the specialist engineering support services firm, said that after a testing year the worst was behind it. The Yorkshire-based company has been hit by a number of contract issues, including an expensive legal battle with Vivergo over a biofuels plant. Underlying revenue for the year ended 30th September was down 5.6% to £119.5m was 5.6%, while pre-tax profits plunged 50.3% to £1.9m. Diluted earnings per share stood were down 49% to 4.8p. The firm posted exceptional items in the year of £5.9m, the majority of which related to costs on the Vivergo legal dispute of £2.5m and provisions on legacy contracts of £2.6m. The company does not anticipate that any further provisions will be needed in future for these legacy contracts. Chairman David Jackson said the prospects for the next 12 months looked encouraging, with strength in the oil and gas market and opportunities afforded by the Crossrail project in London where the firm is a specified supplier. "The opportunities for our manufacturing business in particular look outstanding over the next three years," he added.
I expected it to rise more than this given the government have now agreed to go ahead & build another neuclear power station. Surely we don't distrust them.
Redhall Group Buy 02-Oct-12 £19,767.14 David Jackson 38,190 @ 51.76p Redhall Group Buy 03-Oct-12 £13,000.00 David Jackson 25,000 @ 52.00p
Redhall Group Buy 21-Sep-12 £19,425.00 Philip Brierley 30,000 @ 64.75p
To me this looks to be a very undervalued share. It seems worth buying for the dividend alone, while the outlook for the future looks promising. Why am I not investing more? Simple I'm skint.
Redhall Group, a specialist engineering support services group, has been awarded term contracts for Redhall Engineering and Redhall Nuclear. The first is to provide integrated multi-discipline engineering services to Polimeri Europa UK, estimated to have a value of £8.0m over a three year period. The second is for a three year multi-discipline framework agreement to provide support services across National Nuclear Laboratory nationally.
David Jackson, Chairman and Chief Executive of Redhall Group, commented: "These awards in our core contracting businesses demonstrate the strength of our offering and the specialist expertise of our business units."
Contract Awards Redhall Group plc (AIM: RHL), the specialist engineering support services group, is pleased to announce the award of term contracts for Redhall Engineering and Redhall Nuclear. Redhall Engineering has been awarded a contract to provide integrated multi-discipline engineering services to Polimeri Europa UK Limited, a petrochemical company wholly owned and controlled by Eni SpA, based at Hythe in Hampshire. The contract is estimated to have a value of £8 million over a three year period. National Nuclear Laboratory ("NNL") has awarded Redhall Nuclear a three year multi-discipline framework agreement to provide support services across NNL nationally.
http://www.investegate.co.uk/Article.aspx?id=201207190700059956H
Keep buying Redhall, tipped on 9 March 2012 at 106p and now 82.5p. http://www.ukcitymedia.co.uk/news/fullstory.php?id=2387 P.S. Here's a couple of links about SCLP, one of the hottest stocks at the moment: http://www.euroinvestor.com/community/discussionthread.aspx?threadid=252803 http://www.euroinvestor.com/community/discussionthread.aspx?threadid=253089
I was pleased to buy some of these today as I missed them. I have left space to add because due to the way traders play there is a possibility of picking up more cheaper but don't bank on it. Nuclear is not going away and this company if it is serious has more than a foot in the door.