The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
I wouldn't use the figures from this site as they are dated and sometimes unreliable.. I'm just looking at the latest reported figures from the company themselves... just saying that the Kier net debt that many seem so worried about is relatively small in comparison to many other FTSE companies.
Kier revenue 4b+....... net debt 167m
BT revenue 5b+........ net debt 17b
All in all Kier debt is relatively small.
Kier revenue 4b+....... debt 167m
BT revenue 5b+........ debt 17b
All in all Kier debt is relatively small.
Err.. because there was a trading update in June and the announcement due 30th July was made early.... those prophets should really do more (simple) research.
19th September.
For news of contract wins, media releases etc. you can always check their website.
Kier carries a lot less debt than many FTSE 100/250 companies. It is taking action to reduce the debt even though it has been carrying it quite comfortably for several years... it is only doing this because Carillion collapsed causing Government to set new parameters for bidders. Good to see them taking extra steps to increase cash generation by focussing on core activities and disposing of non-core. It's still going to take a year or two to fully recover the share price though.
Exiting both schemes fits with the Kier Group strategy..
A Kier spokesperson said: “MODA Living has been an excellent client to work with throughout the tender phase of the SOYO scheme and we look forward to seeing this exciting regeneration scheme develop in Leeds.
“We have a strong pipeline of work in Kier Regional Building Northern.
“We look forward to completing our flagship project, St Albans Place and continuing work on other projects across the region, including Park Hill in Sheffield and Dixons Sixth Form Academy in Bradford.”
“We have been working closely with British Land and are pleased to have completed the design and preconstruction phase of the Norton Folgate development. We have mutually agreed not to proceed with the main build element of the project and wish them every success with the development.”
"In agreement with Kier" - it fits the new strategy of not directing cash towards new mixed building...
meanwhile in other more relevant news from the last couple of weeks:
- Joint venture completes sale of Normanton scheme
- Construction begins on F35 infrastructure at RAF Lakenheath
- Kier successfully reappointed to Hampshire intermediate construction framework
- Construction begins on new community school
- Kier appointed to deliver multi-million pound modernisation programme at Winchester college
- Kier appointed to £750M Suffolk Construction Framework
It's because Blackwoods Gin posted a massive 32% increase in volumes sales the prior year. I don't expect small and local stores to stock Distil products but all the large stores in my area have both Blackwoods and RedLeg on the shelves..
I guess we will see how they are getting on over the next several months.. and if the share price is still sub 2p I'll calm down.
Can't get a much better shout from the research note...
"Our discounted peer based EV/EBITDA valuation suggests a target price of 26.79p, 360% upside from the current price. We update coverage with a stance of Conviction Buy."
You need to get out more.. Blackwoods is an excellent gin and is sold by all the top supermarkets in the UK - they also managed to get it behind the bar at Wetherspoons (same goes for RedLeg)... they've got money in the bank and make a profit and now have a Mcap of only £5m.. yes it's been well oversold.
Spending a comparative small fortune pushing it at all the independant ****tail bars hasn't paid off (yet).. unless you were the one visiting and taste testing.. but like you say, RedLeg is currently the main brand and it's for sale at the right price - nobody knows what that is but historical comparatives are anything between £20m and £50m so I'm happy to hold and add (lots) more at this price.
GLA
"The Board believes this portfolio performance is testament to three key factors; first, the Group's cautious approach to risk; secondly, the spreading of risk across multiple industry sectors; and thirdly, taking appropriate security and then assiduously following up with credit control disciplines in respect of arrears and impairments in order to generate recoveries from the security taken. Furthermore, the net write-off rate continues to reflect the historical trend of resilience in the UK SME sector experienced by the Group in providing finance to smaller SMEs for what is business-critical equipment for those borrowers."
They have proper risk governance and base provision on actuals and their provisions are always higher than the actuals.. like Hazrat says, they are gradually increasing provisions but that's just extra prudence not from necessity. They also seem to be particularly effective at recovering any bad debt.
Yes, there's a (£10 billion) future for Kier but they need to complete the strategy and then re-introduce a dividend before the share price can climb properly.
Lol, you're a funny guy.
I thought the main rumour was a 550p takeover bid.
All you need is the right actuary to turn a small pension deficit into a decent surplus..
They've also fallen out of the main indices so many funds will have had to drop them... and with them already suspending the dividend they aren't high yield anymore... They are not going out of business but they will need to show investors that there is still a reason to invest..
Kier did a trading statement last year on 10th July and the LSE financial calendar has one noted for 11th July (Thursday)
The 31st July update was given early on the 17th June to try and allay some of the fear-mongering.. didn't really work because Metamorph is still here spreading it.
Their previos reports indicate that they have sufficient headroom in current facilities to fund any future growth plans.