MAY Gurney Share Discussion Threads

[philjeans] 11/10/2012 10:28

Seems they were oversold at the profits warning last month; update this week was reassuring and I think they're heading back to 200p.

Picked up 5k today; will add if they continue to rise.

[melody9999] 10/10/2012 16:46

Well I thought today was worthy of at least one post! Strong performance by MAYG in a weak market and I'm targeting the closure of the gap somewhere in the low 200's.

[palwing11] 09/10/2012 18:43

V1 perhaps?

[paulypilot] 09/10/2012 15:12

Hi,

Looks interesting. I've bought a few today, and noted my comments here on today's blog entry (9 Oct) for anyone interested;



Cheers, Paul.

[shammytime] 09/10/2012 08:45

Damnit. I was umming and aarring about whether to get these at 125

Good luck all

[kibes] 09/10/2012 08:42

The statement reads well as far as it goes but what I really wanted to hear about was the impact on profits of the three items they have ring fenced. We have already been told of a £10 million provision for one of them but what about the others? Will now have to wait till 4th December.

[monis] 09/10/2012 08:09

looks like it's rising , up 10% so far...

[pelleeds1980] 09/10/2012 07:05

Strong update this should bounce from here

[kibes] 07/10/2012 08:54

Just wondering whether these are a buy but I have been badly stung by companies offering 'nationwide support services' before, ROK and Connaught for example. One minute they appear to be doing fine, the next they are bust, it can happen very quickly. I shall wait and see what MAYG are saying on 9th October.

[bones] 21/9/2012 16:07

Seems to be a steady stream of buyers for sure. I cannot see the statement update on 9th Oct being a pretty read but good luck to those playing the bounce!

[pelleeds1980] 21/9/2012 15:57

Good timing with closing out - see if there is any momentum into next week here

[bones] 20/9/2012 17:57

Decided to close my short positions here as I suspect not a lot will happen before the 9/10 trading update. Cue price drop before then :)

[bones] 19/9/2012 17:47

250 jobs to go in Scotland.......



19 September 2012 Last updated at 16:13

May Gurney announces plans to shed up to 250 posts

Infrastructure support services company May Gurney has announced plans to shed up to 250 jobs in Scotland.

The firm said it was taking the step after a major client, Scotia Gas Networks (SGN), revealed plans to cut the amount of work it outsourced.

The proposed job losses will affect employees supporting SGN's activities in Aberdeen, Dundee and Falkirk.

May Gurney said it was working with SGN to keep the impact of the cuts "to a minimum".

Steps include an agreement with SGN to retain some mains replacement and all new connections work in the north-east of Scotland until 2014.

In a statement, the firm said: "While May Gurney will continue to work with SGN in a strategic partnership, this decision will result in a significant reduction in the work we undertake for the group in Scotland and, also, our staffing requirements going forward.

"As a result, we have entered into consultations with our staff and anticipate that up to 250 people could be affected by this development.

"We will be working with employee representatives to seek alternative roles for our people and anticipate a number of those impacted could be redeployed."

It added: "In addition to continuing our discussions with SGN, we have also been working with one of our other long-term clients - Scottish Water - with a view to using transferable skills and retraining to create new jobs on the contract we deliver for them."

Profits warning

Earlier this month, May Gurney issued a profits warning and announced that its chief executive would leave the firm with immediate effect.

The company in part blamed the loss of a contract to renew and maintain gas mains for Scotia Gas Networks, which is a subsidiary of SSE.

May Gurney's clients in Scotland include Network Rail, Scottish Water, SSE, Fulcrum and Nokia.

The firm said it remained "totally committed" to growing its operations in Scotland, where it employs 600 people.

In January last year, May Gurney bought Aberdeen-based maintenance company Turriff for £13.6m.

Turriff hold interests in gas, water, electricity and multi-utility services.

[bones] 17/9/2012 17:16

Yes, Glasswala. Last week it was Peel Hunt, and their market makers on the other side of the Chinese Wall have been bidding the thing up on Level 2 ever since. The real story is whether the "management defects" extend beyond what has been flagged to date. I still see these heading south soon.

[glasswala] 17/9/2012 15:22

The guys at Brewin Dolphins have now given a buy rating and a 12 month price target of £1.55! The same guys were stating it a sell just a few days ago!!! What changed their views in a few days for these brokers!! Can you rely on them? Why does any body listen to these guys?? They cannot be trusted if within a few days their sell view can be easliy changed to a buy move. I think holders should do their own research and then make a investment based on their own feelings then rely on stupid pimpled kids fresh from college pumped up on booze& drugs who couldn't even give a damn as they get paid whether we investors win or lose!!!
Aviva seem to be confident as they have added a futher 0.5% again from RNS this morning. At least some one in the investment/pension industry has some faith with MAYG!!!!

[monis] 17/9/2012 08:58

looking good again today..

[monis] 17/9/2012 08:27

Rising again by the look of things...

[bones] 13/9/2012 14:15

Telegraph's Questor weighing in with a speculative buy at 99p:



Interesting to note that Questor tipped them at 285p as well and is now falling over itself to recover some poise here. The piece is jam-packed with caveats in case this tip goes wrong as well :)

Seems they have spoken to the Chair, Lady Ford, so that is not exactly impartial.

Some chunky 500k lots changed hands today at 110p. The price is currently stuck there with MM's bidding at 109 and a punter bidding 10k at 110p on a regular basis.

Apparently Peel Hunt have made it a buy with 145p target. I guess MAYG are doing the rounds as we speak :)

I still think there are too many issues that could kill their cashflow but expect volatility until the next update.

IMO, DYOR as always.

[ninja 19] 12/9/2012 17:29

Tambo

Do not continue averaging down mate, it will end in tears here

[salpara111] 12/9/2012 15:08

Short term punters may be able to make a few quid here but for those of us who are looking to make an investment it is better to wait until a new ceo is in place as he will want to "kitchen sink" any other bad news which will undoubtedly lead to another lurch down.
I have stuck them on my monitor and will keep an eye on them for the next 3 months or so.

[pugugly] 12/9/2012 14:09

hvs:> Sorry - I think if you investigate you will find yet another pile of poo made by managent taking their eyes off the ball and possibly failing to do sufficient due diligence on costings before bidding for contacts - Message I get (without inside knowledge of management accounts)is one of "be busy at any costs.

Also investors being too greedy and always wearing rose tinted glasses - BEWARE most analists are guilty of always looking on the up-side rather than taking the REAL ECONOMY into account.

Not the way to run a business -

It also looks as though the message may have got through to potential investors at this price as only MM's prepared to buy stock [Level 2} All other bids now been withdrawn.

I would not even bid 75p without a lot more reassurance that this is a going concern.

If I got it, subject to a realistic forecast of the level of profitability, I might be inclined to go heavy.

[tamboerskloof] 12/9/2012 13:51

Yes I agree, perhaps I was a tad too quick off the mark, I shall hold back, earnings yield currently 20 odd % looks awkward, as do the financials generally.