Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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At this price I think the buyback scheme is better. Makes dividend increases less costly going forward
40 - 50m nearer to 50 if they get their skates on.
Should reduce 528 million shares down to 476 million... preferably all purchased whilst the sp malingers down here in the gutter sub 58p. I would like to see the total number fall below 400 million .. but at least this is a step in the right direction.
Nice update, should hopefully reverse and underpin the sp.
andsoforth: I agree, at the present price £30 Million will take out a goodly chunk of stock and push up the SP.
Steady as she goes here, with up to £30m to be spent on share buybacks. Hopefully this will underpin the price.
It's an incredibly frustrating hold. PMI data is still showing construction growth. Today's GFRD update showed an increased order book. I added this morning. There have been hints at an increased/special dividend: https://twitter.com/F15JCM/status/1464187416588206081
It was one of Andy Bell's tips for 2022 in the Mail: https://www.thisismoney.co.uk/money/markets/article-10359227/Top-City-figures-offer-investing-advice-cautious-brave.html
Low and controlled debt, director share buys, Kingfisher agreements, dividends, investment in additional systems/services and equipment, very good sentiment from brokers and share writers (each side of the pond); yes there seems to be a case to have a punt in my view. Not only that, the economy should wake up more this year (hopefully)!
Looks undervalued tbf and with HS2 it has a lot of potential
In the same article quoting the 113p target is reference to ‘new boss Russell Down’ who’s been in the business at least 5 years… says it all really…
Looking back several years now Speedy share price has never achieved or even come close to the target level set after results announcement. Targets of 90p previously and now 113p? Really?
Speedy clings to the 60 to 70p range and struggles to move beyond. It really is time for a sell up next results day or just before - the charts show spikes in price rise then fall off like a stone.
Bewildering really but see what the N Y brings.
Share tips : Worth a read, recommended buy …..
Analysts at Panmure Gordon believe Speedy is benefitting from “robust demand” and recommends buying the stock at a target price of 113p.
The performance note said: “Superior service levels continue to be a key factor driving these market share gains. As the construction cycle progresses, we anticipate that the importance of service will trend even higher. In particular, we expect that clients will increasingly emphasise equipment availability and reliability over price. In this environment, Speedy Hire is well placed to benefit and we expect sales, margins and returns to all move higher.”
Speedy Hire has a new chief executive officer, is expanding, has gone green and stands to benefit from Britain's £650bn of spending on infrastructure in the year ahead, so "buy" is the Sunday Times's Sabah Meddings's tip for readers.
Under its new boss, Russell Down, the equipment and tool hire specialist is branching out into selling directly to customers through concessions at B&Qs.
Worth noting, the company's promise is that it can supply its 350 most popular items in under four hours thanks to its 200 depots located across the country.
Its delivery vehicles meanwhile have either gone electric or, in the case of its diesel trucks, use hydrated vegetable oil, which reduces their emissions by 90%.
There is also a growing focus on battery power, solar and hydrogen instead of diesel-powered generators.
The company is not immune to the supply-chain problems plaguing the construction industry having already raised its drivers' pay twice this year.
Nevertheless, the company is growing.
So for Meddings: "despite the pressure, it is in a good position to benefit from the £650 billion of UK infrastructure spending in the years ahead. It is already involved in projects such as Thames Tideway and HS2.
"Liberum has a 90p target share price, while Panmure Gordon has a 113p target. At its current price, Speedy Hire looks undervalued. Buy."
Is very encouraging, strongest growth since September 2014. Analysts are behind with revenue (and consequently profit) forecasts. We know 2022 revenue is ~2% ahead of 2020, yet analysts have it over 7% behind.
https://tradingeconomics.com/united-kingdom/construction-pmi
https://www.marketscreener.com/quote/stock/SPEEDY-HIRE-PLC-4001626/financials/
Mediocre results as is the mode for Speedy and can't see market sentiment getting this towards 90p anytime soon unfortunately for me and other holders of this share. Tested the market at 81p earlier this week and now retreated like a scalded cat.
Dividend to look forward to at least.
Liberum raises its price target from 80p to 90p.
Nice positive write up in today's Evening Standard:
https://www.standard.co.uk/business/speedy-hire-after-the-plant-and-equipment-specialist-b937163.html
This has been a lovely trade over the last few months will be buying back in on the drop . Moving over to HSS hire now which should see a steady rise towards interims
Decent, better than expected but......
Growth in new FY so far only 2% above 2019 - hardly exciting (inflation alone may be most of that).
Balance sheet is hopelessly inefficient (and has been for years). Share buy back ? More aggressive dividends ?
Surely can’t just pay down what is a very low debt level.
Company has proved time and time again that takeovers have destroyed shareholder value, and organic growth not good enough
How are they going to ever grow at an acceptable rate (5%+ in my book) ?
I’m a fan of speedy, but a bit dodgy today’s rise.
Totally agree with your assumption good luck
Totally agree with your assumption good luck
Appears to be holding in the mid 70s of late and with the results out on the 25th it could be teeing up for another 10% uplift.
Don't know what the chart gazers think?
Really don't need any duff surprises this year to drag it down again and who knows - 1p dividend may be forthcoming!
Has anyone been in B&Q recently? You might have noticed a Speedy Hire section like this one in Sheffield Queens Road: https://twitter.com/F15JCM/status/1371577714780553216