Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
A couple of sour contract resulting in a £100 mill capital raise. I would like to see some share buyback eventually to put that 100 mil back in the pot.
Blimey. A nice late afternoon surge. We cant be having too many more false starts before COST motors.
Welcome. You finally made it.
Yes, I think Costain is heading slowly in the right direction.I guess you will break even sometime next year if all goes well.
Post on the official Costain logo board. You won't be so lonely and we can enjoy your posts.
Dragged over from above. No offense intended to the publisher.
The fag packet version of this investment case goes something like this:
Turnover £1.1-£1.2 billion (order book several times that) (£1.163bn in 2019)
Target margin (per all their blurb) 7% - by 2024
Pre tax profit by 2024 = £75m
Post tax profit £55m
Number of shares of 275m
EPS of 20p.
Edit - slightly more nuanced version after the half year update is:
............................................2021....2022....2023....2024
Revenue....................................1,100...1,150...1,200...1,250
Margin........................................3%......4%......6%......7%
PBT...........................................33......46......72......88
PAT...........................................26......37......58......70
EPS (275 m shares)..........................9.6p...13.4p...20.9p...25.5p
Easy to say, they need to do it - probably from 2022, delayed from 2021 thanks to the continuing problems with their 2 crap contracts - the A465 in Wales and the Huntington National Grid farce - see half year results in the link below.
Net cash at 30 June 2020 (announcement 17/08/20) is £141m.
UPDATE - Trading Statement - 05 January 2021:
The year-end order book stands at GBP4.2 billion (31 December 2019: GBP4.2 billion), with c GBP1,020 million secured for 2021 (c GBP940 million secured for 2020 at end of FY19). The Group has a strong year-end net cash position of GBP102.5 million, ahead of expectations, (31 December 2019: GBP64.9 million) comprising GBP89.5 million of cash, GBP61.0 million share of cash in joint operations and GBP48.0 million of drawn debt. The average month-end net cash balance for the second half was GBP100.8 million (2019 full year: GBP41.2 million).
Guys and gals, post on the Cost ( denoted by the Costain Logo), not the LSE logo. You are missing the other posts.
Is that your copy and paste post?
Give me a break, we are talking about the ship engineers, LOL.
Interesting. One of the partners is Cavendish Nuclear of Bab****s. Costain is obviously in the right place as well as there work on hydrogen transportation.
I just wonder how far hydrogen technologies will go such as ITM Power and Ceres Power. All these clean energy technologies will be hoping to be the fuel source of the future. I guess there will always be liquid fuel and electricity options hopefully producing energy cheap enough for the common man.
All the while China remains the world's workshop sustaining its energy needs from cheap coal. Their goods should be banned from the West but I presume there's too much slush money falling into the hands of our parliamentarians, Eurocrats and senators.
Rouguemale1.
I don't easily get blown off course. I am quietly confident that the new Costain mean business.
The only storm clouds I see are the global markets going 'pop'.
That would do nicely. The problem is whether I would have the nerve to hold out above 72p.
Brexit + Vaccine (AZN amongst the others) = a double surge. Costain will ride this wave like the rest .
Blimey. I always did imagine we would have a deal but you just can't take it in after 5 years of hell.
Bad luck COSTAINonly as I can see this will run until the goodwill evaporates after a couple of weeks. Could see 70 in no time.
Well done COSTAINonly.
Spend the money wisely. Well, at least you will be indoors with the 15 pints. not so sure about the crumpet though. Shepherd's Market maybe ?
I fear that things are going to get worse for UK PLC until the spring. Costain will get caught up in the market retrenchment due to Covid and Brexit, but I sincerely hope that No 10 holds its nerve against the scurrilous Europeans. It is beginning to look like a Nazi blockade.
Pounds, not the number of shares.
You have a good memory. Yes . about 520k at 72 p
Not many posts on this board.
Brexit plus many potential jobs in the pipeline as UK PLC builds its way out of this Covid mess and yonder.
My waterline is 72p so I have to sit tight and be patient
Just reading about USA Texas based contractor Jacobs makes me think it might not beyond the realms of possibility that they would be interested in Costain given their work on Thames Tideway and HS2 projects .
My water line is around 72p so I have been waiting with excruciating patience for the price to rise. I also sense that the price won't stop there despite the recent 100 mil dilution ( which makes me nervous).