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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Severfield Plc | LSE:SFR | London | Ordinary Share | GB00B27YGJ97 | ORD 2.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-3.00 | -5.19% | 54.80 | 55.20 | 56.40 | 60.00 | 55.00 | 60.00 | 433,980 | 16:35:28 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Structural Steel Erection | 493.61M | 21.57M | 0.0697 | 7.89 | 170.25M |
Date | Subject | Author | Discuss |
---|---|---|---|
31/5/2015 06:47 | The Swiss franc is too strong but should weaken, the Swiss National Bank's chairman has told a Swiss newspaper, adding that the bank was ready to intervene in foreign exchange markets if necessary, to influence the currency. "The franc is significantly overvalued and should therefore weaken over time," Thomas Jordan said in a discussion with readers of Schweiz am Sonntag, according to an article due to be published in the newspaper on Sunday. "In addition, we have emphasized we will become active in foreign exchange markets if required," Jordan said. ADVERTISING The SNB abruptly abandoned a 1.20 francs per euro cap on Jan. 15, sending the currency soaring and raising concerns about Switzerland's export-reliant economy. It has replaced the cap with negative interest rates and a charge on major cash deposits held with the central bank. The Swiss franc closed at around 1.034 per euro in European trade on Friday. (Reporting by Alice Baghdjian; Editing by Crispian Balmer) | waldron | |
23/5/2015 08:51 | I am much more hopeful than that. My timescale is 5years for obvious benefit. | jadeticl3 | |
22/5/2015 21:18 | India is a long term play IMHO, playing out over the next couple of decades. | itchycrack | |
22/5/2015 20:59 | "India we are told is coming right". Where were we told this, please? My understanding is that the general climate for business in India was expected to improve dramatically under the new President. However he has now been in office a year and improvements are much slower than hoped. This is not to say SFR's venture will not improve, rather that the general climate has not yet helped as much as I hoped. India watchers are still confident that the climate WILL improve soon. | jadeticl3 | |
22/5/2015 12:00 | My view is that with continued low interest rates and the Conservative victory, confidence in the construction markets serviced by SFR can only increase.The London office market where there is a major shortage of stock will be particularly buoyant over the next few years for example.All this demand is now gradually beginning to feed through and will impact very favourably on the bottom line as a result of the company's high level of operational gearing.India we are told is also coming right.The company's problem in share price terms is that the rescue rights issue of a few years ago was extremely dilutive with the result that the company's performance has taken some time to "grow" into the share price.That threshold is in my opinion about to be crossed.The next 5 years could be quite rewarding. | thorne1 | |
21/5/2015 20:08 | Just completed a review of private sector steelwork companies' recent results to understand the sector and the vast majority indicate a positive movement in earnings 2014/5. SFR results due out shortly, has there been some leakage? or some positive news elsewhere ie cheesegrator? | steelwatch100 | |
21/5/2015 09:54 | about bloody time! | cojones | |
21/5/2015 09:11 | I am not speaking chartist language, but in my terminology we do have a breakout. The rise is uncharacteristic for SFR, such that I have been searching for an explanation. I have found nothing yet. Today the list of buys is impressive with no sells, although the scale of buying is not massive. What could explain this? | jadeticl3 | |
21/5/2015 07:10 | Do we have a breakout? | sspurt | |
06/5/2015 06:15 | Notice of Final Results Severfield plc, the market leading structural steel group, will announce its Final Results for the period ended 31 March 2015 on Wednesday 17 June 2015. A briefing for analysts will be held at 9.00 a.m. on Wednesday 17 June at Bell Pottinger's offices, 6th Floor Holborn Gate, 26 Southampton Buildings, WC2A 1AH | skinny | |
23/4/2015 14:00 | Switzerland The Swiss National Bank (SNB) has ruled that Publica, the country’s largest Pensionskasse, as well as its own pension fund, must now pay for accounts they have with the central bank. Commenting on the decision, Publica said it was “disappointed& It also said the decision’s effect on the Pensionskasse should “not be overstated”, as it only affected its liquidity account, and the fund did “not need much liquidity to operate”. In February, a negative rate of 0.75% was introduced on the deposit account balances Swiss banks hold with the SNB. However, a few exceptions were made to that rule, including federal deposits, an account by the first-pillar fund AHV, the liquidity account of Publica and that of the SNB’s own pension fund, as well as two cantonal accounts. Yesterday, the SNB decided that only the federal deposits, as well as the AHV account, would continue to be run on 0% interest, while all others will have to pay the negative interest. Dieter Stohler, chief executive at Publica, told IPE the SNB’s decision “does not change Publica’s situation significantly” He added that no decisions had yet been made on any potential portfolio changes in light of falling interest rates, although he said the fund was continually assessing its asset allocation. At the moment in Switzerland, many banks have yet to pass on the fees they pay on their deposits with the SNB, partly as a means of attracting new clients. But Philippe Lüthy, head of investment consulting at Mercer Switzerland, expects this to change, by this autumn at the latest, as “banks cannot continue to pay these fees without passing them on”. At that point, the investors will have to decide “whether it hurts more to pay a certain amount in fees for a cash deposit or in management fees for an investment fund in another asset category”, Lüthy said. In any case, “most Pensionskassen are trying to hold as little cash as possible”, he added. | waldron | |
23/4/2015 13:39 | Switzerland, France Discuss Tax by Ulrika Lomas, Tax-News.com, Brussels 23 April 2015 0 0 Google +0 0 Delicious0 Reddit0 French President François Hollande has met with the head of Switzerland's Federal Department of Finance, Eveline Widmer-Schlumpf, to talk tax. The meeting was held during Hollande's state visit to Switzerland, the first by a French President since 1998. The Swiss federal authorities said that Widmer-Schlumpf stressed the progress made in recent months in resolving outstanding differences on tax. She pointed out that administrative assistance procedures are working well, and that past issues are being dealt with. Measures are being prepared for the automatic exchange of information, and talks on mutual market access are ongoing. Widmer-Schlumpf made clear that Switzerland expects that Swiss banks should be treated fairly and equally in French judicial proceedings. She emphasized the importance of respecting in full the agreed procedures for mutual assistance on tax matters. - See more at: | waldron | |
15/4/2015 09:55 | These shares are commentably "steady". In the last 2 months they have remained in the 65--68p region. Is this good news or bad considering the indices are at record highs? | jadeticl3 | |
07/4/2015 20:24 | Rolled sections price still softening so should also assist margin improvements when combined with strengthening on the demand side. | steelwatch100 | |
07/4/2015 15:21 | What's the latest on these falling bolts ? Has this stopped or are they still pinging off? Imagine if one of them fell on your head. Bit more than ouch -might be curtains. | meijiman | |
07/4/2015 14:51 | Gargoyle - at the peak I think margins reached circa 16% so talk of 10% is not far fetched especially given SFR's unchallengeable UK market position | sspurt | |
31/3/2015 09:06 | Good recent interview with the CEO. I especially liked his comments on the potential for increasing margins. | gargoyle2 | |
29/3/2015 16:05 | My understanding is that their plant capacity has been significantly higher than Current output, but they will have reduced labour to match current needs. They will be able to ramp up capacity as needed by recruiting and training. This will be a challenge they will be delighted to respond to. | jadeticl3 | |
29/3/2015 09:52 | Thanks jadeticl3 for the reply. Presumably they have some spare volume capacity in their uk production facilities to take advantage of this demand and uplift turnover relatively quickly, whilst maintaining and/or improving margins? | steelwatch100 | |
28/3/2015 17:34 | We think there is, but we are expecting a slow build up and with it a rise in SFR share price. If we were not why would we be holding these shares? We are far from euphoric, but I am optimistic that the company is still in recovery mode. | jadeticl3 | |
28/3/2015 12:07 | Does UK fabricated demand looks solid for medium term & is there growth potential here? | steelwatch100 | |
24/3/2015 07:11 | Severfield plc, the market leading structural steel group, announces that it is today hosting a Capital Markets Event for analysts and investors in London. A site visit to showcase the Group's current work at the Nova, Victoria development will be undertaken. There will also be a presentation by Severfield client, Mace, given by Mace Chief Executive Mark Reynolds, as well as presentations, chaired by Ian Lawson, Chief Executive Officer, which will illustrate Severfield's differentiated position within its market, key sectors of focus for the Group and its approach to the complexities of its design and build projects. The Company will not be providing any new material information. Presentation materials will be available on the Company's website ( following the event. | skinny | |
24/3/2015 05:45 | Edison yesterday ( Slightly mixed message tone from Severfield this morning. Investor sensitivities (specifically the Leadenhall Building - 'Cheesegrater’ and India) may re-awaken, but the message on the key UK market and progress therein remains positive and should take precedence in our view. The replacement of bolts on the Leadenhall Building has been public knowledge for a while. The building owner, consulting engineer, main contractor and steelwork supplier (ie Severfield) are all working together to replace the faulty bolts (incidentally supplied by a third party which went into and has since been bought out of administration). SFR has incurred almost £1m of related costs to date – which will be treated as exceptional in FY15 (ending March) - and expects to work on the rectification until the end of calendar 2015, though the full potential cost exposure is not flagged. It is worth noting that liability for the costs of the programme are subject to discussion between the main parties and therefore, subject to further update. The Indian JV operation has performed well during H2, with fabrication volume throughout and efficiencies resulting in ‘around break-even’ trading. (NB our estimates contained a £0.25m share of PAT loss in H2, similar to H1 and hence, a £0.5m loss for the year). So, a more positive trading outcome here, though the company notes a solid order book position (at c £39m versus £38m on 1 November and £41m on 1 May), but a softening pipeline more recently. Our estimates contain a repeat £0.5m loss result for FY16 and break-even for FY17. UK operations have seen a steadily improving financial performance – in the form of rebuilding margins – over the last eighteen months or so, under the stewardship of CEO Ian Lawson. No specific new details are referenced in the RNS, save for a £194m order book position. This compares to £185m on 1 November (and £168m on 1 May); in the intervening period, SFR announced £43m of new contract wins in December, so fabrication activity levels appear to be healthy. Tomorrow’s capital market event is expected to showcase the range of project activity undertaken within Severfield and hopefully provide some insight on the generally recovering activity levels on large projects. We also note that SFR has recently taken on staff from Mabey Bridge to enhance its capability in the specialist bridging segment, with a bias towards infrastructure. We believe that UK momentum is the most important aspect of today’s update and that is positive. At 65p, the company is trading on forward consensus P/Es of 19.1x FY16 and 14.1x FY17. The corresponding EV/EBITDAs are 10.8x and 8.5x respectively. Hence, multiples are normalising on a two year view; our estimates contain revenue growth of c 5% and c 100bp improvement in EBIT margin pa for the next two years. As the incidence of larger projects increases, we see scope for a faster rate of revenue growth, so monitoring the size and composition of the UK order book is a key lead indicator for us. | gargoyle2 |
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