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COST Costain Group Plc

73.80
-1.20 (-1.60%)
Last Updated: 10:14:54
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Costain Group Plc LSE:COST London Ordinary Share GB00B64NSP76 ORD 50P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.20 -1.60% 73.80 72.80 74.00 75.00 72.00 75.00 114,763 10:14:54
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Hghwy,street Constr,ex Elvtd 1.42B 25.9M 0.0936 7.88 204.19M
Costain Group Plc is listed in the Hghwy,street Constr,ex Elvtd sector of the London Stock Exchange with ticker COST. The last closing price for Costain was 75p. Over the last year, Costain shares have traded in a share price range of 41.80p to 75.00p.

Costain currently has 276,684,741 shares in issue. The market capitalisation of Costain is £204.19 million. Costain has a price to earnings ratio (PE ratio) of 7.88.

Costain Share Discussion Threads

Showing 6276 to 6296 of 10150 messages
Chat Pages: Latest  262  261  260  259  258  257  256  255  254  253  252  251  Older
DateSubjectAuthorDiscuss
15/4/2020
07:35
Separately, Costain has been awarded a GBP210 million design and build contract by Highways England to upgrade an existing section of the A30 north of Truro, CornwallI was wrong yesterday being cautious but bought today at 65p
babbler
15/4/2020
07:34
It should do bud
gooner1886
15/4/2020
07:30
Strategic partner for hs2. Billions in contracts...This should recover nicely....
ammu12
15/4/2020
07:28
I should have got in yesterday at 50 but never did , never mind inlan holding these for 2 years lots coming up for them
gooner1886
15/4/2020
07:27
Good buy gooner.This is a good 12 month hold for a recovery back to 200p
ammu12
15/4/2020
07:15
Took £20k at 65 in here today, this will re rate massively this year. Good luck all
gooner1886
15/4/2020
07:11
rather what goes down must go up! this has gone down massively!!! and the company is in a much better position than mnay others.
farrugia
15/4/2020
06:59
What goes up must go up...
davwal
15/4/2020
06:55
There's a hole in the bucket, dear Liza, dear Liza... Call Henry!

So where we going today? News now priced in in the short term? Normally I'd be confident of a good rise but after yesterday and this market who knows.

sweep stock
15/4/2020
06:14
So there was no leak yesterday of today's news..??....sheesh!
DL

davidlloyd
14/4/2020
13:48
RogerRail - if you look at AA share price it's exactly the same plateau. Started exactly same time, looks exactly same. It's nothing to do with any placing leak.
philobeddoe
14/4/2020
13:30
How so?

It is a bit convoluted, but does make sense to me:

They believe they are a going concern without the capital raising, but it's a bit tight. To ease that, and to take advantage of opportunities currently not possible because funding is tight, they want to raise funds.

The capital raising is not entirely within their control (underwriting clauses), and because of that, the accounting convention is that this constitutes a material uncertainty on the capital raising and this ordinarily may raise doubt about the business being a going concern.

But they believe they would have other options available (if the capital raise did not go through) and therefore there is no going concern issue.


Bear in mind, almost all of the wording will have been written by their auditors...

imastu pidgitaswell
14/4/2020
13:08
Page 130 of the AR
Going Concern statement
The Board has concluded that it is appropriate to adopt the going concern basis, having undertaken a rigorous assessment of the financial forecasts and with consideration of the anticipated net proceeds from the announced equity capital raise which the Board is confident will be approved.
Material uncertainties The Board considers that the Group and the Company have adequate resources to remain in operation for the foreseeable future and therefore have continued to adopt the going concern basis for the preparation of the financial statements. In assessing the going concern assumptions, the Board has reviewed the base case plans, identified reasonable worst case downsides and anticipated receipt of proceeds from the capital raise. Applying these reasonable worst case downside scenarios the Board concluded that, while there is liquidity headroom, absent the anticipated net proceeds from the capital raise, in a reasonable worst case scenario, while the headroom on committed facilities is adequate, the headroom on the leverage covenant is limited. The Board has concluded that to provide greater flexibility and headroom, and for the Company to take advantage of market opportunity, it would be prudent to take steps to conduct a capital raise to strengthen the balance sheet of the Group. The Company has entered into a standby underwriting agreement to support a capital raise. While the Board has a reasonable expectation that the Company and the Group will be able to operate as a going concern for the foreseeable future, in undertaking their assessment, the Board has considered the fact that a shareholder vote is required to raise additional capital, and that the standby underwriting agreement is subject to certain specific conditions which, although customary in nature, are outside the control of the Company. Under accounting standards these events and conditions indicate a material uncertainty on the completion of the capital raise which may cast significant doubt about the Group’s and Parent Company’s ability to continue as a going concern. However, in the absence of the capital raise, there are a range of alternative actions that would be available to the Board, including entering into discussions in respect of an alternative financing plan with the Group’s lenders if required. Therefore, the financial statements do not include any adjustments which would be required if the going concern basis of preparation is inappropriate. The Auditors’ Report refers to this material uncertainty, and their opinion is not qualified or modified in this regard.

cerrito
14/4/2020
13:05
I did buy today a few earlier than I wanted to as I had not finished kicking the tyres on the Annual Report.
I hope that in the next update they give us a steer on what is happening with National Grid on Peterborough/Huntingdon and also with Thames Water on Thames Tidewater. The language used on both projects made me slightly twitchy. Did others get twitchy?
Stranger things have happened that the Government having seen the experience of homeworking will cancel HS2.
On page 145, I was surprised that interest earned on bank deposits went up from £0.3m to £0.7m, despite indications that cash balances were lower and equally surprised that interest expense on bank loans went up from £3.1m to just £3.3m given the fact that page 155 tells us that drawings under the RCF went up from £9.8m at 12.18 to £60m at 12.19. Anyone else surprised?
I am going to post the full wording of the Going Concern statement, which to me suggests that the Board have got their knickers in a twist.

cerrito
14/4/2020
12:42
sp plateued at 55p suggests leak in news of placing at or near this level?
rogerrail
14/4/2020
08:58
I think the rise is due to it being Costain’s turn. Many investors are working through the big fallers and this stock was found to be still languishing, so suddenly in they pile...
davwal
14/4/2020
08:44
maybe some sanity is finally setting in - this company is in much better shape than many.
farrugia
14/4/2020
08:13
Looking for a reason for this rise, but can't see anything.

Looked at broker ratings for past 12 months, via SIPP provider - both (Peel Hunt and Liberium) have maintained Buy ratings. Even though it has fallen from 330p+ during that time. What possible credibility do these outfits have?

Not complaining re the rise though - long term hold for 500-1000% though, not a quick 20%.

imastu pidgitaswell
14/4/2020
07:47
Where's the news behind this jump?
npp62
14/4/2020
07:25
90p on way then 155
onjohn
09/4/2020
13:12
Costain taking off

COST

onjohn
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