Jack Diamonds
25 Mar 2015
Line in the sand.......... Well the Market seems to like the latest set of numbers.......let's call it a "Line in the Sand"I would take away 2 messages :1. Strengthened balance sheet with £219 million net cash. Our transformation programme, Build to Last, is gaining rapid traction and we are driving initial improvements of £200 million cash in, £100 million cost out over 24 months, and more importantly2. The real prize is a sustainable return to profitable growth, built on the Group's unique capabilities, underpinned by leaner, stronger processes and flawless execution.Anyone can plan, very few can drive through flawless execution.........
sparks1962
25 Mar 2015
What a strange game we play Losses rise more than expected and share price rises. What a wonderful world
I R Baboon
23 Mar 2015
prefs would not touch this with a barge pole currently although the prefs have a running yield about 9% which is worth it consdiering they are cumulative
meisterx
23 Mar 2015
Expected losses of up to £260m Balfour Beatty is expected to announce annual losses of up to £260m and a suspension of the final dividend this week, as new chief executive Leo Quinn lays out his plans to tackle troubled contracts and turn around the beleaguered construction firm.The new boss has undertaken a forensic inspection of the whole of the business since joining in January and could use Balfour’s full-year results to recognise an additional £200m in losses, according to City analysts.“We would not be surprised by £100m to £200m of contract provisions, relating to further prudence in UK construction and a fresh assessment of the overseas business,” said Joe Brent, from broker Liberum.A review of about a fifth of the business by at the start of the year uncovered a £70m hole in the accounts, the overall impact of which the City has struggled to quantify. Analyst forecasts range from a pre-tax loss of between £60m and £260m to the end of December, down from profits of £32m in 2013.“We recognise the fact that Balfour is not yet out of the woods in terms of profit warnings, and there is still a chance that 2015 may contain a nasty surprise,” said Sam Cullen from broker Jefferies.[link]
II Editor
20 Mar 2015
NEW ARTICLE: The week ahead: EasyJet, BowLeven, Balfour Beatty "Monday 23 MarchTrading statementsSCS Group, Nanoco Group, YouGov, Finsbury Food Group, Md Medical Group Investments, SVM Global Fund, CityFibre Infrastructure Holdings, GVC Holdings, Akers Biosciences, Pennon Group.Tuesday 24 MarchPlumbing ..."[link]
Field Marshall Lodl
10 Mar 2015
effing u
Jack Diamonds
18 Feb 2015
Build to Last....................... Different Company.......but the language is very familiarA call to action, maybe....Jack17 February 2015 LAUNCH OF BALFOUR BEATTY'S TRANSFORMATION PROGRAMME - BUILD TO LAST Balfour Beatty, the international infrastructure Group, has launched its business transformation programme, "Build to Last". This programme will drive continual improvement across all businesses, to build a global Group which generates substantial shareholder value and maximises returns by optimising the value of an integrated Balfour Beatty. In its initial phase, Build to Last will target bringing each business unit to industry-standard performance levels by focusing on four key areas: · Lean - Deliver rapid performance improvement by strengthening financial controls and transparency and simplifying the organisation with detailed indirect cost reduction plans, plus the launch of the My Contribution productivity initiative (metric: operating profit and operating cash generation)· Expert - Ensure the attraction, retention and development of key employees and sub-contractors by investing in training and talent to enhance engineering, project management and delivery capability (metric: engagement survey)· Trusted - Strengthen the successful execution of projects and services through disciplined stage-gated bidding, contracting and risk review processes (metric: customer satisfaction)· Safe - Prioritise safety at all levels and for all employees, sub-contractors, customers and communities (metric: zero harm). A number of steps have already been taken across the UK and the US to give the programme rapid traction, including: · Creation of the Build to Last programme office with UK and US workstreams and a benefits tracking system· Following strengthening of the Board, new appointments to the senior leadership team in targeted areas, including IT, commercial and project execution, and business process re-engineering· Alignment of all leadership incentives to key programme goals· Consolidation to leverage key UK functions to remove duplication and improve efficiency, resulting in significant reduction of layers and cost (subject to consultation) in areas not related to front line delivery· Rollout of a cash generation drive through planning and training to project level in the UK and the US· Detailed procurement initiatives commencing with key suppliers and areas of direct and indirect spend, with the potential to deliver meaningful and growing savings over time· Streamlining the Group property portfolio to reduce costs. Further details on the programme and an update on progress will be provided at the Group's Preliminary results on 25 March. Commenting on the launch of Build to Last, Group Chief Executive Leo Quinn said: "The Group's recent trading makes it imperative to gain early momentum in our transformation plans. Whilst further challenges remain, there are clear opportunities to achieve improvements in cash generation and profitability in the near term. "Balfour Beatty has great strengths across its portfolio - not least in its Investments division, where recent transactions underline the ongoing ability of this business to create value. I continue to believe all our operations should achieve industry-standard performance against what appears to be a beneficial market environment. "Longer term, we will shape a Group with leadership in key markets, driving best-in-class performance from a platform of strong capability, leaner processes and robust execution."
Jack Diamonds
12 Feb 2015
Re: Live trade - closed , @231 Always good to see folks declaring their positions.I followed the Quinn news last year and got in at 1.8835 (including costs - 26/11/14). Can't complain about a 25% gain in a few months to date.IMO I reckon this will go back to GBP 3+
onedb1
03 Feb 2015
Live trade - closed , @231 Nothing to do with me turning bearish I explained below why In the spirit of keeping a track record transparent to those following my entry exits I post entry exit , gains and losses . Recent streak has been good but does not mean am immune to bad streaks like quite a few months ago . All the best here , I will keep on observing for another trade
onedb1
03 Feb 2015
Re: I think this was a classic Still going strong . A good 8p gain for me here and I need to cut for margin reasons as am a bit tight and want to use my available margin allowance for another trade . Can't complain though So am closing at 231 .1 / 9p profit . Will post on iii my next idea PS Zoopla short still open ( as per my post over their at 190 , so am about 10/11p in the money ) Ophir longs still open . Av 132 now trading at 147.3-148.1 still open and going to let it run Those are my trades Whereas I hold long physical shares else where too and Indices longs and shorts but won't bore anyone
nk1999
28 Jan 2015
UBS "UBS has lifted its target for Balfour Beatty's shares from 200p to 235p, but maintained a 'neutral' stance on the infrastructure group."It is rare that shares rally 10%+ after a profit warning but in Balfour Beatty's case the assumptions seems to be that the worst is now over and new management can eliminate what has been extremely poor performance in the UK. We are inclined to give the benefit of the doubt for now but see relatively limited value at the current share price level," the bank said."SP closed at 225.3p.nk
onedb1
26 Jan 2015
Re: I think this was a classic and we are seeing more of a rise . My view on Sunday was correct .
nk1999
26 Jan 2015
Numis From Citywire pn Friday:"Balfour Beatty upgraded despite further profit shortfall discoveryInfrastructure group Balfour Beatty (BALF) has been upgraded despite a review by KPMG unearthing a further £70 million profit shortfall and the share buy-back being cancelled.Numis analyst Howard Seymour upgraded his recommendation from 'hold’ to ‘add’ and increased the target price to 230p. The shares rose 4.9% to 215.6p yesterday.‘The KPMG review provides a tangible assessment on losses on existing contracts and should draw a line under issues here, but equally important a framework which management can use going forward to get construction services back onto a sound footing,’ he said.‘It is clearly early days, but initial views from the chief executive about the ‘fixable’ nature of issues is the first sign that Balfour Beatty is turning the corner – albeit we also take the point from the chief executive that this will not be a short-term fix.’He added: ‘We raise our target price solely on the higher investment valuation, but believe as a special situation the scope for material upside lies with getting [construction services] right and the restoration of Balfour Beatty’s premier status in the industry – which has historically merited a premium rating.’"
onedb1
25 Jan 2015
I think this was a classic Gap was filled and then the move to the 200sma was the trigger for more buys ! I think this now is going to get bought more . Support will be the 200sma I think Rise in volume on Friday and rise in price - always a good signThe candle shows that the price closed at nearly the day's high - another good sign SO my view is stay long for now I am not long , just had this pop up on my self made screening tool . It shows all the things I like I have no idea at the moment of fundamentals , pure TA on this one Shame that the chart below is not showing the gap. But it was at the start of Oct
bigbaz1
24 Jan 2015
Re: Contract Win SoT - I think the rest of the contract value has been divided amongst other contractors (I think I read that somewhere) a Welsh JV being one from memoryNevertheless it's another win with no doubt better margins built in
