RE: Value17 Sep 2024 21:58
Toby,
The company is priced with only a little growth factored in; if the construction sector shows the resilience some expect, then Van Elle are sitting with spare capacity and the skills to capitalise. Even with the current market conditions, it generated sufficient free cash to pay a dividend that yielded around 3% whilst paying down debt and investing in the company.
The bounce from the new GOV housing policies has come and gone, so maybe not for traders but still an attractive entry point for medium to long-term investors bullish on UK construction.