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I don't think you're far off the mark Rogue, the thing that might shift the shareprice is if they do a Carillion and change share sector - They are winning more work in the consultancy field and this could justify them listed as consultants in the same way Mott's etc. are. Mind you, as soon as they do get a significant turnover in this field the likes of Jacobs and WSP might come sniffing!! All IMHO of course.
I know the persons involved - needless to say they no longer work for the company, but I also know National Highways are none too happy.
https://www.constructionenquirer.com/2022/01/25/m1-fraud-probe-reveals-contract-management-problems/
Just gets better!
@spy..... ouch
With Kier looking to buy Tilbury Douglas, is this the start of some market consolidation? Costain could look very cheap to someone like Balfours or Skanska..... It's the only way the share price is going to move up significantly in the short to medium term..
Smart motorways put on hold for at least 2 years... may hit turnover.
Lets hope they get the M60/M62 Simister Island job right then!!!
Personally I'd take anything Liberum say with a pinch of salt - they have been singing the praises of Costain for ever and a day, and but no surprise when they were working on their behalf....
https://liberum.com/news/liberum-acts-as-joint-global-coordinator-and-joint-bookrunner-on-100m-fundraising-for-costain-group-plc/
Gone to the dark side working for a consultant for a bit. Still talking to the sector and project directors. Not an especially happy ship atm. Thoughts are LTC might be delayed for a while. It's a shame Sisk are privately owned - they are doing well and on the framework for concrete roads - making some good returns.
@Unhooked Re go wrong...... Since they stopped wanting to build things, and decided they wanted to be a smart infrastructure technology provider and to be a consultant based in Manchester, IMHO
https://www.constructionenquirer.com/2021/11/22/national-highways-halts-first-smart-motorways-job/
Might also impact on the Simister Island scheme that had an element of Smart Motorway in it, although that is a couple of years away having to go to DCO.
Meant A12 not A14...
Word is that Lower Thames Crossing is a must win, with the delay to Smart Motorways, the A14 which was circa £1bn been handed back due to been unable to agree a price, and HS2 been scaled back (all the roadworks that would need to be carried out). Look for turnover been below expectation. Costain also split up it's work winning team for highways, with one of the directors going to Morgan Sindall and another setting up on his own, and now working freelance for Kier. So steady progress for now but I'm not sure about no nasty surprises.
Re Nukes, quite possible re the announcement today of the new Infrastructure Director and his background in defense..... look out for some ex Rolls Royce managers at some point.
https://www.constructionenquirer.com/2021/10/26/costain-poaches-new-chief-digital-officer-from-microsoft/
Hope he's worth it..........
Nah - I bailed after 16 years after seeing the direction of the business....less construction, more consultancy, low risk low turnover...... expect a sector move in the same way Carillon did to FM. Once the consultancy is more than 50% of turnover that is when shareprice will move significantly. Biggest mistake in my book is choosing Alex over Darren James... Look at Keltbray now....
Heard that Costain may have given up on the A12 scheme on the RDP East Framework and handed it back to National Highways... Circa £800m of turnover over the next 5-7 years. Seems Taylor Woodrow may have also done the same with another of their jobs too.
https://www.constructionenquirer.com/2021/09/20/hse-shuts-m6-job-after-excavator-topples-into-trench/
Not good....can affect future work winning