Our latest Investing Matters Podcast episode with QuotedData's Edward Marten has just been released. Listen here.
Https://www.constructionenquirer.com/2024/02/27/costain-moves-hq-to-londons-can-of-ham/
Morning Rogue...
Was just passing on the info to those who might not be avid readers of CE. Not sure that constitutes bashing.
However, Sue was the driving force behind the consultancy business so I wonder if the focus of the business is going to change - David has had a number of roles on the exec board, inc. commercial while I was there - think he was brought in by Wylie at the start of his tenure - but he has always been prominent in the construction side. As usual, time will tell - and I think it's going to need a lot of time before we see a return to the heady heights of £1+ per share.
Https://www.constructionenquirer.com/2023/10/03/costain-transportation-md-exits-2/
Https://www.constructionenquirer.com/2023/09/04/jobs-to-go-as-costain-winds-down-tech-centre/
After buying the business for circa £15m 8 years ago...........
Https://www.costain.com/investors/financial-calendar/
8 days to go!!!
Morning Rogue, sadly yes - need to get to at least £1-50 before I can realistically bail.
Would love to know what the current cash in bank is......
I'd also be interested to know what the GPM was on the Preston Job - great news that the scheme delivered on time and in budget - but have they made money??
Https://www.constructionenquirer.com/2023/06/30/super-sewer-contractors-safe-from-thames-water-crisis/
hopefully should get paid!
Https://www.constructionenquirer.com/2023/06/22/five-land-485m-magnox-clean-up-deal/
Hope the full money comes forward - quick sums if split evenly would be roughly £100m over the 6 year contract - £16m/year........ - hopefull as of right awards and no mini bids required.
Https://www.constructionenquirer.com/2023/06/19/costains-planned-m6-link-road-job-halted-over-costs/
Possibly, although been an open secret for about a week - suspect it is the working of the article that has spooked investors in saying they have been dropped - implies it wasn't Costain choice and therefore must be a negative reason why.
Https://www.constructionenquirer.com/2023/06/08/costain-taken-off-1-3bn-a66-road-delivery-team/
All is not well in the highways sector - the business now sees highways as too risky and not part of the central strategy of delivering consultancy work.
Also been told the RDP schemes in Newcastle are under financial pressure.
Https://www.constructionenquirer.com/2023/05/16/top-level-shake-up-looms-at-costain-highways-division/
Hopefully doesn't affect turnover too much
Maybe Simon's - have heard the Dobbo has a new role elsewhere but is embargoed for now.
Not surprised, the Highways Sector director Simon Ellison and Op's director Darren Dobson have both just left by mutual consent. Not sure who is running the highways sector now.
The foreigner's already own the company...... the business is going nowhere fast, and lots of their best staff are starting to leave.... the company I now work for have taken 6 in the last month as we pick up work and I know Balfoyrs and Kier are also targeting their best.
https://www.building.co.uk/news/winners-of-building-awards-2022-revealed/5120150.article
https://www.constructionenquirer.com/2022/09/27/pr-expert-baroness-rock-to-chair-costain/
Perhaps she will be able to spin the excuses as to lack of performance in the share price !
Perhaps one of you fine gentlemen who speak to the management occasionally would like to enquire as to the health of the M6 SMP contract, and how the A1 schemes around Newcastle are going from a financial point of view???
So, let me guess.... in line with expectations, better governance, new processes to identify problem contracts, challenging conditions...... it's like playing bull**** bingo
Full year results 9 March 2022
Annual General Meeting 5 May 2022
Half-year results 2022 24 August 2022
Financial year-end 31 December 2022