||EPS - Basic
||Market Cap (m)
|Construction & Materials
Billington Share Discussion Threads
Showing 276 to 299 of 300 messages
|Could see a mention in the press this weekend|
|Agreed on all counts. There is no reason way we can't push up towards £3 next week.|
the big fella
|Yes except it should have been nearer 300p given the very positive outlook in the results. (Thanks Mr Gordon!)
We will get there eventually I suppose - my current target is 350p but that is likely to get revised upwards once Shafton output ramps up
I'm hoping they start to look into Europe given the current fx rate advantage
|Nice finish to the week :-)|
|Yes. I think we will see a steady rise from here. You could add 50% to the share price and they still wouldn't look expensive.|
the big fella
|Noticed small buys going through at full price so thought I'd do some dummy trades.
No stock available to buy online, not even 10 shares.
Plenty available to sell.
|I see my 25k has finally been reported|
the big fella
|Battlebus - I guess if you have a large historical position in a cyclical small cap, in which I imagine he is not involved, you start cutting your position before the top of the cycle is in evidence rather than take the risk of missing the boat and seeing market size dwindle to 500 shares if you are lucky.|
He has as much right to sell as we do. Clumsy yes but maybe he needs the money and he has restriction when he can sell them. It offers a chance to buy what I believe is an undervalued company.|
|As I understand it.
John Stuart Gordon became a non exec director in 2007 when his Dad Stuart Nicholson Gordon retired as Director/Chairman.
His Dad presumably had the shares in a "trust" and these have been transferred to his Son John. So John has never had to buy them. Presumably his directorship at BILN was as a result of his Dads position and the volume of shares he then owned.
There could be a plethora of reasons why he may wish to dispose of the shares, tax bill on the trust, divorce, new car, house, etc..... we just don't know.
Or pessimisticly it could be as a trained & practicing construction lawyer he is seeing something looming within the business that he doesn't like the look of.
As I keep saying a Company statement soon on the matter would be helpful.|
|Just checked and the 25k I bought at 2.40 still not reported, which seems strange. Just checked my ISA and they are there!
Edit - just reading the posts above it is good to see many well respected posted sharing my belief that these are currently well under valued.
After yesterdays results I fully expected us to be testing £3 this week. Hey ho.|
the big fella
|jonwig has not posted here for years so it's time that the shareholder information was updated.
Current major shareholders
Gutenga Investments PCC Limited 6,451,318. 49.9%
Ocorian Trustees (Jersey) Limited 928,119. 7.17%
Tarom Foundation 1,445,000. 11.2%
Henderson Global Investors 1,072,900. 8.29%
Charles Stanley 662,150. 5.11%
Total shares issued: 12,934,327
The percentage of securities not in public hands is 68.22% (8,824,437 shares).
Tempus obviously likes the look of BILN too !
"Billington Holdings is a small Aim stock with big ambitions. It makes structural steel for industrial and commercial properties. The 2016 revenues were up almost 12% and pre-tax profits almost 23%; Billington is running at full capacity and has perhaps 70% of this year’s order book in the bag. The dividend is up by two thirds to reward investors who stuck with it and at the end of 2015 the company placed a large bet on the markets by buying an extra facility near its Barnsley base."
|Battlebus - in my experience management are usually the worst people to rely on spotting/reporting cyclical turns downwards. If you were in their position would you be warning about possible cyclical difficulties ahead? After all they are paid to be optimistic. I reckon 90% would keep schtum. Spooky is probably not 100 miles from the truth. The exit here will be as tight as a ducks proverbial when the time comes.|
|I don't think that's the reason spooky, if you read what Mark Smith says about expansion and the outlook, I'm guessing he needed the £90k for other reasons.|
If you can give me a list of the others I'd be much obliged, I'd add GDWN and PRP as on my list ..|
|BILN is a cyclical business, don't you think he might be taking some money off the table because of where he thinks the business might be in 18 months time. When these start going down it will be impossible to get out of any size.|
|I seriously believe there are listed companies where the share price is not seen as in any way important. I have a mental list of around half a dozen-this might be one of them. I have struggled to understand why it is lowly rated -it is now becoming clearer.|
|Sherylchan - Agree...just a poor attempt at humour in my post ;-)
|GHF - on the contrary - the quicker the company can get rid of him & his shareholding the better - but preferably at an orderly manner|
|Mark Smith, Chief Executive Officer, said the rise in steel prices late last year had a small impact on business operations but Billington was looking forward to a period of steel price stability in 2017.
Forecasts indicate that the consumption of structural steelwork within the UK increased by 4% last year to 902,000 tonnes. Projections are that consumption will remain at or around this level for the next two years
Smith said Billington was now moving onto an expansion footing.
“The exchange rate environment, since the Brexit vote, has provided the group with the opportunity to recommence the assessment of expanding its operations into Europe, which is something that Billington will continue to review in the coming year.
“The gradual phasing in of the Shafton facility shall further increase the capacity available and present the group further business opportunities in which to expand the range of services it is able to offer its customers.”
Shafton Steel Services provide steel profiling and processing services with new capacity expected to come on line in the summer.
He added that Billington intended to further increase its 360 strong workforce with the planned employment of additional labour at the Shafton site and the expansion of the technical and professional teams at the Bristol office.|
|Great post GHF - thanks
Whilst sharing your advice, tell 'em you're a big fella TBF :)|
Like most other investors, I was impressed with today's results....op margin improved to 6% (from 5.4%); earnings 7% ahead of the upgraded forecast; net cash +£1.5m ahead of forecast & the dividend +66%. All wrapped up nicely with a positive outlook & pleasingly with order visibility into Q1 2018.
So, I was also astonished that John Gordon felt the need to dribble out some shares today (@ 225p) and kill any share price momentum stone dead. Don't often observe stupidity from Directors like this on results day & I'm unable to recall a similar instance in recent times.
The shares opened at 260p & I felt they warranted pushing on to the £3 level over the coming weeks & months, especially after investors considered the valuation in comparison to peer SFR and (perhaps) concluded the 40% PER discount unwarranted.
The only consolation with Gordon's 40k sale is that it provided the opportunity for a top-up at a decent price towards close of play. Grrrr, thanks for that John!!!
Back to the results.
WH Ireland released an update reiterating their Buy recommendation & 340p price target. They commented,
"...2016 proved to be another exceptional year, against a backdrop of increased confidence in the sector and increased order visibility. Full year earnings were 6.7% ahead of our estimates, adjusted EPS increasing 20% y-o-y to 25.4p and the proposed final dividend increased materially by +66% to 10.0p."
"...With Billington reporting significant forward visibility, we upgrade our FY 2017E EPS estimate by 9%. We see fair value at 340p and view the current 40% PER discount to Severfield as unjustified."
BILN beat WH Ireland's upgraded forecasts across the board: -
Turnover £63.3m (vs £60.8m estimate)
Adj PBT £3.8m (vs £3.5m estimate)
Adj EPS 25.4p (vs 23.8p EPS estimate)
Dividend 10p (vs 6p estimate)
Net cash £3.5m (vs £2.0m estimate)
They have also upgraded the current year forecasts across the board: -
Turnover £65.5m (up from £62.7m)
Adj PBT £3.9m (up from £3.6m)
Adj EPS 26.2p (up from 24.1p EPS)
Dividend 10.1p (up from 6.6p)
Net cash £4.3m (up from £2.5m)
That leaves BILN on a prospective PER of 8.8 for the current year & now offering a dividend yield of 4.4%
A month ago I posted that BILN was (-14%) since Sept 2016 while SFR was (+43%) in the same timeframe.
Quick check tonight reveals that over a year BILN are (-25%) while SFR are (+45%).
Someone keep John Gordon away from his broker....
|Useless. Eye off the ball i fear.|