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Sorry if already linked:
https://www.telegraph.co.uk/business/2019/06/22/kier-directors-raked-70pc-pay-rises-despite-contractors-slide/
The former CEO and outgoing CFO should be shot. Their failure to address problems see shareholders and employees suffer, while they walk away with bumper pay packets. Total failure in their roles.
That said, I made a fair bit trading this above £10 last year.. then got out and have recently picked up a few again. Lets hope the shorters are proved wrong!
"Bev has been our Finance Director for over four years and I would like to thank him for his contribution over this time"So he's overseen a drop in share price from c£15 four years ago, to around £3.50 today. On that metric he doesn't seem to have done brilliantly well.
I'd more take it as - "we're looking, but haven't found anything attractive enough, yet". Agree obviously though not looking like something is just round the corner.
They looked at lots of prospects / took a bit of time, prior to the Sasa acquisition.
It might be said that the Spanish authorities should respond to this, as presumably the directors are going to be completely unaware of the claims or they'd be obliged to have informed shareholders already. Reuters would normally be an organisation I would expect to have reliable sources, but who can say when they are anonymous, presumably there has to be some kind of motivation for making statements like this to the media. If it is true that a decision has been made then why delay releasing it.
Apologies if already posted. Looks like to have potential to tighten the U market a bit more short term: https://www.telegraph.co.uk/business/2018/06/04/ex-city-banker-readies-150m-float-uranium-venture-yellow-cake/
One of the shorts has disappeared, or at least reduced their position and dropped below the reportable threshold. https://shorttracker.co.uk/company/GB0004915632/
https://www.telegraph.co.uk/business/2018/03/15/kier-feeling-good-shakes-carillion-woe/
Maybe corbyns been hit by a bus?
https://oilprice.com/Geopolitics/International/Ukraine-Looks-To-Boost-Domestic-Nuclear-Capacity.html
Nice results for the year and dividend increasing. Lots of cash available for new acquisitions for this year, so should be a good pipeline of news going forward.
As I understand it they were contractually obliged to pick up the work of the JV if a partner 'dropped out' for whatever reason, however, in terms of these projects they presumably had a say it what was agreed on the first place as opposed to a contract C quoted a price on no one else could match.
I bought a few here friday(have held a couple of times before and done ok). I think the news of a bigger slice of existing contracts is broadly positive. This bump up in work has come without really any significant extra time invested. It could almost be seen as akin to an acquisition, as in picking up some of the pipeline, workforce, supply contacts of another company with no cost. However I agree there may be questions over the margins involved, but that's the same in any industry and good management should not bid for work that is uneconomic, there should be some kind of contingency planning. C obviously didn't get this right, but doesn't necessarily mean all are in the same boat. I also agree that the amount of intangible assets shown in kier's results seem high. I don't understand quite what justifies this number or the rate at which it has grown in recent years(perhaps someone with more knowledge can shed some light, I do wonder is this is perhaps related to as yet unrealised contracted work, but hard to say). Looking at sector peers though, other companies also seem to have big numbers in this type of 'asset'. What changes will come to the sector due to the failure of C? Probably not much for a while imo, few years at least - but hopefully this'll get any management team cutting it too close on the risks thinking about what(personal) consequences there may be in the future.. ie it's not worth winning a contract at any cost. Mean time there will be marginally less competition and a bit more incentive to look at beefing up margins. Looking at contract wins on the sector recently, kier seems to have been doing reasonably well, so I'd hope/expect to see them keep to the forecasts made in their last update when it come to results this year. Margins may be tight working for govs but at least earnings should be fairly assured, time will tell how well K has managed the balance.