Member Info for TTNY2013

My reasons why I continue to hold and still think we will see a substantial SP rerating in 2024. Looking for 100p plus in 2024.

1. If we compare Costain to industry peers it has a P/E Ratio of 7.9 whereas its industry sector average is 13.3. Nearly double. Keller 10.3 and Galliford even 23.

2. Fair value would equate to 1.18 which shows we are over 47% undervalued. Looking at future cash flow forecasts using DCF models.

3. Hope greater broker analysts coverage in 2024 which should give a more significant rerating.

Many thanks Eldose babu.

Merry Christmas all. Agree as many are saying that after a frustrating couple of years being a capita long term shareholder watching the turnaround take place but SP not recovering, that we have build a solid foundation now and that we will see a significant increase in the SP in 2024 as the rerating begins.

That was very helpful. Could you provide the wall street holdings link you used. Many thanks.

Capita year end trading uodate this week on Thu 14th December. Expect this to give us a lift and launch us firmly into the mid to high twenties.

Question is will we see 60p held today, and move up to 70/80p for next test?

'This company has £167m in cash yet its market value is just £157m'

Questor share tip: If it can get its margins even to 5pc it could look cheap indeed

https://www.telegraph.co.uk/money/investing/stocks-shares/costain-infrastructure-specialist-berkshire-cash/

Agree

Last year there was a pre-close trading update on 13th Dec.

Assume there will be one this year which is only a couple of weeks away. Expect it to be positive showing solid progress moving into 2024.

Look at consenus broker forecasts on Capita's website:

2023: £m Average High Low

Adjusted revenue 2,681 2,723 2,665

Adjusted EBITDA 214 220 203

Adjusted PBT 62 70 48

Reported free cash flow post lease payments*(98)(85)(106)

Net debt (post IFRS 16)(482)(434)(524)

 

2024: £m Average High Low

Adjusted revenue 2,775 2,862 2,743

Adjusted EBITDA 231 241 221

Adjusted PBT 80 91 59

Reported free cash flow post lease payments*(6) 15 (30)

Net debt (post IFRS 16)(476)(463)(512)

 

2025: £m Average High Low

Adjusted revenue 2,879 2,992 2,832

Adjusted EBITDA 249 257 236

Adjusted PBT 96 107 76

Reported free cash flow post lease payments* 22 37 3

Net debt (post IFRS 16)(455)(412)(499)

Broker forecasts 48p, 50p

Feel that in future we will hit those levels.

Current SP market cap of 322m GBP. Considering profit even taking average 62m this year, 80m 2024, 96m 2025.

Market capitalization is ridiculous. Can see massive rerating during next 12 months as we move towards 50p again.

AimMaster - this was always the plan and mentioned clearly in H1 results. After all the restructuring selling off the non core businesses they can review what they need and make restructuring and efficiency savings now. 60 million a year (originally targeted as 40 million) after initial one time upfront cost of such changes will drop onto the bottom line for every year thereafter.

Don't want to jink it. Looks like again we are heading to test 60p resistance. Hopefully, this time will break out to 70 / 80s as first level back on rerating.

As part of this mornings Capita plc (Capita) implementing significant cost reduction programme

In its Half Year Results, Capita outlined that its medium-term target to double its operating margin to 6% was underpinned by cost savings of £40m per annum on an annualised basis by the end of 2024. Based on an extensive organisational review, the Group will shortly commence employee consultation programmes which are expected to deliver cost savings of £60m on an annualised basis from Q1 2024. That is an extra 20m per year from what was stated at Half year results. Great to see this being accelerated now to provide an efficient lean organisation.

It stated

QUOTE

The group continues to trade in line with its expectations, delivering positive operational and financial performance and has won contracts with a total contract value (TCV) of £2.85bn year to date (2022 full year TCV: £2.59bn).

The Group will make a pre-close statement on 14 December 2023 and the Full Year Results announcement is planned for 6 March 2024.

UNQUOTE

Long suffering shareholders remember to attend if possible and at least in advance ask your questions. I have done this. Your chance to speak!

Interim Results Investor Q&A

Costain Group PLC ("Costain") announces that Alex Vaughan, CEO, and Helen Willis, CFO, will be hosting an investor Q&A session relating to the Interim Results via Investor Meet Company on 24 August 2023 at 10:00am BST.

The Q&A session is open to all existing and potential shareholders. Questions can be submitted pre-event via the Investor Meet Company dashboard up until 9:00am the day before the meeting or at any time during the live presentation.

Investors can sign up to Investor Meet Company for free and add to meet Costain via:

https://www.investormeetcompany.com/costain-group-plc/register-investor

Excellent results
15% increase in dividend

Full year results tomorrow.

Be interesting to see numbers together with forward looking statement and divi.

International Personal Finance Plc Notice of investor briefing - 18 January 2023
Source: UK Regulatory (RNS & others)
TIDMIPF

RNS Number : 9947L

International Personal Finance Plc

09 January 2023

International Personal Finance plc

Notice of investor briefing on Wednesday 18 January 2023

International Personal Finance plc ("IPF" or the "Group") is pleased to announce that it will host the second investor briefing in its series of webinars providing insight into the Group's markets, strategy and operations.

The briefing featuring IPF's Mexico home credit business will be broadcast live from Puebla in Mexico at 15:00 GMT on Wednesday 18 January 2023, and hosted by the Group's CEO, Gerard Ryan and Country Manager, David Parkinson. The event will provide an opportunity for analysts and investors to learn about the home credit business' unique market position, the customers it serves and strong growth potential. No new financial information will be disclosed. The briefing, including a live Q&A, will last around 60 minutes and is open to

investors and analysts . To register for the webinar, please contact rachel.moran@ipfin.co.uk
A recording of the event and presentation materials will be available on the Group's website shortly after the

event at www.ipfin.co.uk

Agree, but what is going to get it to be rerated?

Think new leadership in some ways. Need a charismatic CEO who puts his own money in company shares to show his confidence and can sell company to investors. Feel Alex inhibits the company in this regard.

Now broken above 100p expect to move up and possibly retest previous 150p high of summer 2021. High progressive yield, excellent management, returning to previous pandemic growth levels of credit.

Agree. Think will be an achievement to finally break 50p strong resistance (will be 4th attempt since covid mar 20 collapse from 150p) and move to 60 to 70p range throughout rest of 2021. Then further evidence can see 2922 moving higher.

Also please note, current PE ratio is lowest of 70 companies in the professional and commercial services market.

For example, Serco (SRP) which has 17th lowest out of 70 has a current PE ratio of 13.7

Says it all! As I said my PE of 10 is very conservative and generally for this type of company would be higher at between 12 to 15.

Consensus analyst forecasts are:
2021 31 Dec FY 6.31p EPS 104.89m GBP net profit
2022 31 Dec FY 8.48p EPS 133.89m GBP net profit

At 42p this gives PE ratio of 6.3 for 21 and 4.95 for 22. This is far too low.

Even if we gave a conservative PE ratio of 10 this would equate to 63p SP for 21 and 84.8p SP for 22 respectively.

Hence, rerating going on!