Galliford Try Share Discussion Threads

[ken298] 29/1/2018 14:33

If the results are good we should recover!

We need to - hopefully no more bad news !

[dr_smith] 29/1/2018 14:26

SP up 2.85% to £11.55 for no known reason, but still way below the £13 plus pre CRLN.

[eeza] 29/1/2018 11:06

14 Feb Int res & Div announcement.

Valentine's Day.

Trick or Treat.

[valuehunter1] 29/1/2018 10:58

Looks to me like the price is consolidating around here and should break out back north as we approach results day soon...in it for the excellent divi and strong fundamentals in the housing and construction sectors that we operate in. Of course the construction element needs to be managed prudently and fairly confident they have learnt their lessons.

[dr_smith] 26/1/2018 19:18

Yes. Kier is taking over on HS2 (and presumably without the legacy loss faced by GFRD).
There must be a raft of contracts that need to be re-allocated from CRLN, I don't know if these are assigned by receiver for CRLN, or simply re-negotiated by Principal/Gov.

As contracts are for tight margins (and possibly zero/negative profit with current/updated costings) I wouldn't expect any takers on an assignment basis from CRLN receiver and Principal contracting party will likely have to make new contract.
With lessons learnt, more profit margin will need to factored in for constructor - and none of these joint and several clauses with constructors expected to act as surety for each other - whoever is the weakest link.
So - GFRD screwed on Aberdeen for short term, but net position could well be positive/favourable medium term.

For Gov contracts, there will presumably be guidelines brought in on how sub-contractors can be used and payment terms for same - none of this 120 days waiting on an unsecured promise.

Gov have egg on their face for facilitating hard working small businesses being screwed over, losing money and having to make employees unemployed, when working, ultimately, for Gov't.

If the outcome of CRLN is fairer contracts for all, then thats a small positive - but too little too late for those sub-contractors owed tens of thousands of pounds.

IMO :-)

[eeza] 26/1/2018 18:34

Kier up 15%. Hope some of it starts to rub off here.

[eeza] 25/1/2018 08:32

Kier up 10% on TU.

[jrphoenixw2] 23/1/2018 17:53

The most recent rating is from July last year, after which they've just dried up. Anyway, such ratings are often regarded as a means to stir client interest so they can tend to be on the optimistic side of things. A broker issuing routine sell ratings is scarce as it doesn't win friends at either the issuers or the latters' 'house brokers' nor banks.
I tend to give them a glance before consider a new stock, top-up or sale. Recognising their in-built bias I only look for stronger consensus signals.

[marksp2011] 23/1/2018 15:47

Even the worst of the broker views has a target price 150 above this

[eeza] 23/1/2018 14:17

Lol !!!!!

SP goes down - followed by Broker's views turn negative.
SP goes up - followed by Broker's views turn positive.

[jrphoenixw2] 23/1/2018 14:04

It's on my radar, but the Broker Views make pretty dismal reading...

[deb81e] 23/1/2018 12:51

I'm tempted to buy more with a dividend @ 8% and well covered,

[dr_smith] 23/1/2018 09:27

speedsgh:
Don't know how you pick up these non rns links on your radar, but it is appreciated.

Lincoln -
GFRD only temporary, but I assume this is because a long term rubber stamp appoval cannot be given in a short time with committes and submissions etc and need to keep project moving.
To appoint a different long term cntractor would necessitate more duplicated/interupted work, staff changes and lack of clarity on who is being paid for what, so I reckon GFRD will be long term.

"Galliford Try and its successor will also be encouraged to honour the existing arrangements with subcontractors and suppliers."

I assume this means sub contractors will be paid at same rate from date of GFRD appointment, not that GFRD will be liable for monies already due from CRLN.
Says "encouraged" so implicitly a moral/goodwill issue, not legal.

Aberdeen -
If GFRD didn't take on the CRLN staff they would likely have more disruption to progress, so, as they are picking up tab with BB, it is in their own interest to take on current sub-contractors - providing their work is up to standard.

All IMO :-)

[speedsgh] 23/1/2018 08:34

Balfour and Galliford offer Carillion workers jobs on £550m AWPR -

Balfour Beatty and Galliford Try have offered jobs to Carillion workers working on the £550m Aberdeen Western Peripheral Route following the contractor’s collapse, according to Transport Scotland.

Construction News has learned that all construction workers employed by Carillion on the scheme have been offered employment by Balfour Beatty and Galliford Try.

The two contractors were part of a joint venture with Carillion to deliver the scheme before the UK’s second-largest contractor fell into liquidation last week.

A Transport Scotland spokesman said there were 76 Carillion staff on site and both contractors would offer employment to keep work going on the scheme...

[speedsgh] 23/1/2018 08:31

Galliford Try takes over from Carillion on £96m Lincoln bypass -

Galliford Try has temporarily taken over work on the £96m Lincoln Eastern Bypass after the county council terminated its contract with Carillion.

Galliford Try will ensure work continues while Lincolnshire County Council looks for a new firm to manage the project in the longer term...

[eeza] 22/1/2018 20:19

Fickle sentiment & opportunistic shorters.

[careful] 22/1/2018 20:08

we must be worried about the value of that large order book.

[eeza] 22/1/2018 19:49

A lot of chart support at 1140-1150 but if that doesn't hold then it's 'look out below'.


It's a long drop to 800.

[ken298] 22/1/2018 18:43

Price is going south again- have we reached bottom ?

[spudders] 22/1/2018 18:30

I see KEIR have taken on some of CLLN staff on one of their JV's. I assume GFRD will do the same?

[speedsgh] 19/1/2018 09:28

Galliford's Gateshead regeneration cleared for phase two -

Galliford Try will begin construction of the second phase of Gateshead’s £350m housing-led regeneration programme in the spring. Planning consent has been granted for 114 more homes on three new sites, adding to the 309 completed, or approaching completion in phase one at Birtley, Deckham and Bensham...

[ken298] 18/1/2018 19:04

They should stick to house building and run down this side of the business! However when house building goes into to downturn they were considered a safer bet due to the diversity !
My hope is that this is the last provision.
At 8% yield they are a steal if they can maintain the dividend. The nearest I can get to this yield, is Russian warehousing RUSP.

[marksp2011] 18/1/2018 08:02

Bizochio

The Aberdeen bypass is fixed price and already a year late. The extra cash required is a contribution to complete so is a contribution to the loss on the contract. Anything contributed to that contract comes straight off the bottom line.

[bizochio] 17/1/2018 21:43

Article from ii about the effects of carillion on other companies suggests 'Most have been relatively reassuring for investors, with big names including Galliford Try, Balfour Beatty (BBY)and Morgan Sindall (MGNS) not expecting any material impact from their exposure to the construction group.'

[...]

Not necessarily how i read the rns and i am not quite so confident it wont impact them. I had also seen elsewhere the aberdeen contract was one of 4 that was cited in regards to Carillions downfall. Overall i am confident of this company in the long term but in the short term expect some turbulence. Problem now is second year running they are on the end of unexpected construction hits which might well make many people probably err for the caution of a traditional housebuilder.