Funny that the Board consider a downturn in securing work as being a high risk. Sort of goes against all the optimism re order book that folks on this BB keep banging on about...
"A general market or sector downturn may materially and adversely affect the Group's ability to secure work.
The Group's performance is affected by macroeconomic factors which affect UK business in general and/or the markets in which the Group operates.
COVID-19 impact: high.
COVID-19 has resulted in high levels of macroeconomic sector uncertainty and volatility and has resulted in the UK entering a recession. This has, in turn, adversely affected the Group's financial performance."
I suppose it could be considered that the MM's are algorithmic "super computers" of sorts, more pronounced when the computers are doing the work when there are higher volumes and much more buying/selling activity. This share recently has been more on a drift downwards on pretty low daily volumes.
at what point do shares get suspended? When there is reason for that to happen.
And who actually decides on the price of any share at any given time, not just Kier? Is it another super algorithm?
No, the company doesn't decide the price. Thats not how shares work. The valuation is set by market sentimebt. I.e. if you have one share, how much is someone else prepared to buy that share from you. At the moment the market is saying about 55p. For reasons much discussed on this BB. Its why I have a little smile to myself when clowns come on valuing the share at 200p. Its ridiculous because they wouldn't but the share at that price for themselves, so why would they expect some other mug to do so?
" a company can only pay off debt with cold hard cash, not accounting profits. So the logical step is to look at the proportion of that EBIT that is matched by actual free cash flow. Over the last three years, Kier Group recorded negative free cash flow, in total"