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I web message they have called in administration .
Kier sold one property in London yesterday and made £25m, enough to reduce group net debt from £167m to £142m, which is very low for a company with current turnover of £4.5bn. Order book is strong with £9.4bn in projects of which 90% are secured and probable. In addition to that, there's a logjam of projects waiting in the wings due to brexit uncertainty (so industry analysts say). Once that gets unclogged, Kier is likely to grow massively. But the firm doesn't need to grow for the share price to perform. It only needs to show debt reducing, and that's being accomplished by asset sales, small and large, and retaining the dividend which has been over £60m a year recently. If anyone here wants to know what Kier is doing in terms of growth and business strategy, all the answers are easy to find. Just take a look at the preliminary results on the investor results page of the company's website and if you want to hear the analysts grilling the CEO, there's a webcast too. Also, Andrew Davies has just put out a youtube video aimed at Kier staff, in which he discusses the direction of the business and the share price. Not hard to find. Dyor.
The share price is a stone cold bargain. Either it goes to £6 or the firm gets a speculative bid from a buyer. I don't see it staying at £1.20 for much longer. A lot of the promises from government involve infrastructure spending (hospitals, schools) and its record this yr, when business is supposed to be hamstrung by brexit, is that its beating all of the other construction firms and is having a good year. Andrew Davies essentially smashed the results down this year with massive paper writedowns and provisions and the next H1 results will show him as a massive success.
No. The business has more than enough cash; Kier is using only half of its available credit line; its paying suppliers almost twice as quickly as it was six months ago; and its retaining £60m+ in dividend cash that it would have paid out to shareholders. In terms of 'downsizing' it's only a reduction of about 10% of turnover. Kier Living (the residential housebuilding division) turned over about £400m out of the firm's total £4.5bn turnover last yr. The most amazing thing about all of this is that Kier Living is for sale at around £160m (with four or five 'very engaged buyers') but the total market cap of the whole £4.5bn business as it stands today is about £180m. Kier is hugely undervalued; the major part (the construction firm) is effectively valued at about £25m for a business which is the second largest regional construction business, turns over £4bn+ (yes, billions) with underlying annual profits of £100m+, and has been growing organically this year through winning more contract work by value than any other construction firm. Workforce has grown by over 10% by my reckoning. Last yr was 18,000, this year over 20,000.
This share price has been controlled by the Chinese for many many years. It's just a waiting game for them. Takeover just around the corner
Why Chinese control this share price Jonathon,who told you this lie?
That ( X ) buy 29 August 2017 ( year after N & R ) the second of three mad buys .
Just seen i bought 154,777 @ 0.8p £1244 ( X ) hopefully that all... total loss £6075
Forum on ADVFN same log in .. left message re - wisdom of the preference shares on delist
rommy1 I see you're posting on advfn, another site with an active FUM discussion group is lse.co.uk again with free registration and a higher level of debate