||EPS - Basic
||Market Cap (m)
|Construction & Materials
Galliford Try Share Discussion Threads
Showing 4901 to 4925 of 4925 messages
|And there she goes!! An ideal buying opportunity IMHO, DYOR.|
|Today's drop looked like XD day had arrived early so still a drop to come again tomorrow.|
|Construction margins seem to be taking a long time to improve despite all the talk of legacy contracts which should have worked through by now? Better to sell off construction or switch scarce labor to house building?|
|( - Housebuilder Bovis Homes was forced to respond to recent press speculation regarding a potential offer for the company on Monday, saying it did receive written proposals from Redrow and Galliford Try outlining potential merger proposals.
The FTSE 250 firm said Redrow proposed a share and cash transaction for the company, while Galliford Try proposed an all-share transaction for the company, with both proposals preliminary and subject to due diligence.
"The board of Bovis reviewed the proposals and concluded that neither reflected the underlying value of the Bovis business and therefore both should be rejected," the board explained in a statement.
"The board also concluded that the Redrow proposal was not in the interests of Bovis shareholders as the cash element of the offer would require shareholders to crystallise value at the current Bovis valuation."
Bovis said the decision to reject the proposals was communicated to the two parties.
"Redrow subsequently indicated that it was not willing to improve the terms of its proposal and discussions were terminated.
"Discussions with Galliford Try are ongoing."
In the meantime, the board said it was making "good progress" with plans to recover and improve group profitability and enhance return on capital employed, with the search for a new chief executive also progressing well.
"The board of Bovis remains committed to maximising returns to shareholders and will continue to consider all strategic alternatives."|
|Galliford Try has proposed to Bovis that the equity in the combined group would be split 52.25% to Galliford Try shareholders and 47.75% to Bovis shareholders. On the basis of the share price of Galliford Try at close of business on 10 March 2017 this would value the entire issued equity of Bovis at GBP1,191m or 886p per share, representing a 7.0% premium to the closing share price of Bovis on the same date.
Under Galliford Try's proposal, Galliford Try shareholders would receive the Galliford Try interim dividend announced on 21 February 2017 to be paid on 6 April 2017, and Bovis shareholders would receive the Bovis recommended final dividend announced on 20 February 2017 and payable on 19 May 2017|
|Interesting that the share price has been climbing ahead of the approach for Bovis; also that Redrow are no longer in the frame.
That would be some acquisition for GFRD, almost doubling the current market cap.
TBH, I'm not sure whether I'm happy with the bid or not! Any views from others?|
|Highest for well over a year today!
Still good value and big dividend.|
|Linden Homes seem to be joining the Bovis club|
|The House that Jack/Jerry built?
|Expecting good results from Clln to show growth as in construction with Gfrd|
|Solid results from TW as PSn as here
Brexit really not having that affect on house builders
UNtil further news
CAnnot see retracing|
|Psm update next week
Should be just getting a re-affirmation of strong growth as per last update / rns / bloomberg CEO interview :)|
|Peel Hunt: Galliford Try story ‘still attractive’ - HTTP://citywire.co.uk/money/the-expert-view-hsbc-bovis-and-vodafone/a994358?ref=citywire-money-picture-galleries-list#i=5
Peel Hunt expects ‘material improvements’ at Galliford Try (GFRD) after the housebuilder set out its strategic plans.
Analyst Clyde Lewis retained his ‘buy’ recommendation and target price of £16.50 on the stock, which closed 12p or 0.8% lower at £15.03.
‘While the group reported good progress with its H1 [first half] results, with profit before tax up 19%, the key news…is the group’s 2021 strategic growth vision,’ he said.
‘These plans will see material improvements in all three divisions, resulting in group profit before tax being over £230 million in four-and-half years’ time versus £160 million in full year 2017. Despite the post-Brexit rally in the share price, we believe investors will find this story attractive.’|
|This rise indicates possible large trade in the pipeline as a buy
Today or maybe tomorrow|
|expect rise to continue till next week,
We knew Bdev was coming out with good figures based on last rns
Psm will be as same as last rns, strong, based on Ceo on bloomberg few weeks ago
yesterdays reaction for Gfrd was over done
|broadwood. Always a good idea to quote your source so readers may read the full article. Thanks for posting
|Delayed reaction to yesterday's strong results.|
|Construction group Galliford Try gave investors reason to cheer as it hiked its dividend 23 per cent to 32p a share.
Shares soared when the market opened as profit climbed 19 per cent to £63million. Revenue in the six months to December 31 was up 3 per cent to £1.3billion.
Much of the growth came from its house-building business Linden Homes.
Galliford set out ambitious plans for the next four years, targeting profit of £220million
Shares have now recovered past their pre-Brexit levels – the stock plunged more than 40 per cent in the weeks after the referendum vote in June to lows of 785p – but experts say there could still be further to go.
Yesterday shares finished up a nudge at 0.9 per cent, or 14p, to 1502p|
Interesting; if true makes CLLN look even cheaper.|
|What happened in the last hour? A great set of figures, dividend increased by 23
% and the price nosedives. Great buying opportunity. IMHO DYOR|
|NOTE: The following compares figs in CLLN 2015 Annual Report with figs in GFRD 2016 Annual Report in an attempt to compare importance/performance of Construction within each company. I have used figs for Construction excluding Middle East for CLLN. More up-to-date figs for CLLN will of course be released shortly but perhaps useful for now as a comparison.
Looks like Construction represents a large % of total revenue for GFRD than for CLLN but margins on Construction are much poorer at GFRD (1.1%) compared to CLLN (3.0%).
Please feel free to point out any glaring errors that I may have made...
Total revenue: £4,586.9m
Construction revenue (excl Middle East): £1,258.3m
Construction (excl Middle East) as % of Total revenue: 27.4%
Total underlying operating profit: £259.0m
Construction underlying operating profit (excl Middle East): £37.8m
Construction (excl Middle East) as % of Total underlying operating profit: 14.6%
Total underlying operating margin: 5.3%
Construction (excl Middle East) underlying operating margin (incl Middle East): 3.0%
Total revenue: £2,670m
Construction revenue: £1,503m
Construction as % of Total revenue: 56.3%
Total underlying operating profit: £135.0m
Construction underlying operating profit: £15.8m
Construction as % of Total underlying operating profit: 11.7%
Total underlying operating margin: 5.1%
Construction underlying operating margin: 1.1%|
|What? ... oh ... following. I thought I was having a senior moment.|
|As for share price rise
Following (editied ) worth watching
Two out of three i think will be good ..|
|Just breached 52-week high of 1535p.|