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Refinanced business with new management team; net cash position at year end (no net debt); increased turnover by 26%; very low 2023 price/earnings (approx p/e of 2). An incredible buying opportunity according to Peel Hunt. Government spending is main source of income - more secure in recessionary environment.
Recovering share price, reducing debt, good cash raising (rights issue and cancelled divi), top contracts winner by value for 2019 so far, results out in 4 weeks.
New CEO with rationalisation plan; debt is reducing; sale of part of the business (Kier Living) announced; share price has bottomed out due to hedge-fund shorting overshooting the price target -- currently valued at approx one year's earnings and should be 5 or 6 times this value.