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...yes also heathrow expansiuon is another big one (if they ever make their minds up about it)
Only last month the CEO said re Hinkley: "The next big ones for Severfield are the currently paused Hinkley Point power station (“it’ll happen when it happens”), and the third runway. Frankly he doesn’t care whether a new runway is built at Heathrow or Gatwick — he just wants politicians to say yes" SFR must be in prime position for work on this enormous project.
Article in today's Evening Standard was very positive. Relieved to hear that the Cheesegrater repairs are complete. As a Chelsea supporter, have mixed feelings about SFR helping build them a new stadium :-) "The UK’s biggest steelwork firm, involved in most of the major landmarks on the London skyline, from the Shard to the Olympic Stadium, said orders are holding up despite the Brexit shock. Severfield, whose recent contract wins include the steelwork on Tottenham Hotspur’s new stadium, said its UK order book stood at a “very strong” level in the period following the EU referendum result. The work is “across a wide range of market sectors and project sizes”. “Our pipeline of potential future orders has also remained stable with a good balance of work across all key market sectors,” it added. The firm has not been without its problems, only recently completing the high-profile repair of giant bolts on the City’s Cheesegrater tower, a disastrous contract for Severfield agreed by previous management. But boss Ian Lawson told shareholders today that “the UK business is well placed to continue to meet expectations”.
Looks really solid, with the order book increasing slightly overall to £305m. H1 results are coming on 22 November: Http://www.investegate.co.uk/severfield-plc--sfr-/rns/agm-trading-update/201609060700079590I/ "Outlook With its strong order book, continuing profit improvement programme and our ability to work across a wide range of market sectors, including infrastructure, the UK business is well placed to continue to meet expectations. The Indian business continues to perform steadily and is well placed to benefit from any improvement in the Indian economy. Overall, the Group is on track to progress as expected over the remainder of the financial year."
SFR win work on a £70m contract for the new No.1 Court at Wimbledon: Http://www.expressandstar.com/business/business-picks/2016/08/30/barnshaws-metal-bending-skill-wins-new-work-for-wimbledon/ "Greg North, commercial director at Barnshaws Metal Bending, said the firm would be working with the steel work contractor on the project, Severfield. The two have frequently worked together, in particular on the Centre Court project. Work on the Number 1 Court reconstruction started after this year’s championships, and the retractable roof is due to be first used in 2019"
This is more like it, surprised that more people aren't getting on board now!
Here we go, this looks like the start of the bid up
Looks like you were spot on, hearing 62p+ for this now
The bid price has now moved up to 51p - first time for a while. Is the seller now cleared? The big trades of 5m+ shares yesterday at 50p may just have seen the end of the overhang.
There is no real evidence this is going to realise any serious returns, for a start the share was at 72p last year and looking at the balance sheets I would like to see the creditor/debtors list paid full to believe this business is returning to real profits not underlying profits before I buy into the recovery and see the final bill on the Leadenhall building for substandard bolts,small gains is good for them(if true) but the new management team are hardly as experienced than the team that was there before who was realising 50m yearly profits before the recession,also the likes of Hares and Bourne Steel seem to be winning a bigger slice of the uk's work and the former probably having a larger order book for the first time in many years but in this economy I can't think why you wouldn't buy elsewhere.omo
The Group's business model supports strong cash generation, as has been demonstrated by the rebuilding of a good net funds position over the past three years. This cash generation will support future investment in the growth and expansion of the business, whilst maintaining a strong return on capital discipline, along with the progression of the core dividend. It may also support supplementary dividends without diminishing the good net funds position which is being built up, a position which we plan to maintain to help manage the financial risks inherent in a contracting business.
Nice - the Chairman's just bought another 100,000 shares at 49.25p: Http://www.investegate.co.uk/severfield-plc--sfr-/rns/director-pdmr-shareholding/201607221147519991E/
Interesting - 4.5m shares have just gone through. Perhaps clearance of an overhang. I bought some of these recently for the first time, having watched it for years and years. It's always been very overvalued imho, but now as a market leader it finally seems pretty undervalued, with extremely large upside if it can continue to thrive and recover as it seems to be doing. In particular, prospects for this year seem very solid given the high order books and visibility going forward. Forecasts are for 4.72p EPS this year and 5.78p EPS next year - with 1.7p and 1.9p dividends too, so an excellent divi yield as well.
Buys or sells
I'm in 12000 @ 45.5 Divi cut off 19th August so should get interesting from now onwards !!!
Wonderful market in this share. Selling price actually greater than buying, but by such a small margin that it is not worth selling to buy. What are market makers trying to do here ?
From rns, appears that std life and legal gen have moved in. Looks like time to top up.
some biggies there?
today
Always decent with their investors .One might think should they afford it but 0.5 p interim good for a restarter if on the register 18th Dec which means X date 17th I think.
November 27, 2015 10:09 pm Small-cap Week, November 28 Bryce Elder Bryce Elder Engineer Severfield proves its mettle with rise in profits Selling steel and making a profit are two concepts not often associated in Britain nowadays, writes Michael Pooler.
Lower fuel and raw material prices ought to be helpful to construction companies. How much will it be accretive to earnings ? Similarly India seen as having more growth potential than China
...this Wednesday the 17th... ...'expected to be in line with broker forecasts of £211m in revenues and £8.2m in pre-tax profits.
This was my first ever post on LSE & now look at my wallet! LoL But seriously...good to see SFR breaking 70p again... I still have my shares in my long term portfolio, not far off double bagging & a teensy Dividend as well... Ah! I do love the rich rewards of rights issues & patience. Also interesting to see that one of my favourite (if sometimes prickly) Mentors, Jolly (Roger) Speculator was also on this B/b at that time.... Best regards to one & all, Blue
Price drop yesterday with big sells. Any ideas why?