Severfield Share Discussion Threads

[fizzypop] 10/2/2017 10:42

TU from competitor Billington BILN ... in line with expectations. But the spread can be a killer.

[fizzypop] 08/2/2017 10:56

Steady as she goes. A little consolidation before the next leg up is good.

[fizzypop] 06/2/2017 16:08

In at 80.46p for first purchase.

[carpadium] 06/2/2017 11:56

Added a few more .. if last year's anything to go by we should see a trading update next week and hopefully a buoyant one at that.

[basem1] 01/2/2017 09:23

PEL looks interesting guys. Low mkt cap, growing earnings, good management etc.

[greenroom78] 31/1/2017 17:55

Thanks Rivaldo (and Rhomboid), been away for a few days but those lists will give me a few new ideas to mull over.

[croasdalelfc] 31/1/2017 16:29

1mill at 81p

[meijiman] 28/1/2017 12:57

They were lucky one of these bolts didn't land on someone's head. That could have been a big legal case.

[steelwatch100] 28/1/2017 11:21

Rhomboid
the simple option gets my vote!!

Not sure who will pick up everyones tabs for leadenhall in the end, hence the initial question!

Hopefully this is old news, priced in but as you say is also small beer in relation to ongoing performance & profit.

Have a good weekend

[rhomboid] 28/1/2017 10:48

Depends on the amount to be disbursed, my instinct is that it'll follow the recent Castings model and simply give an additional Special divi whilst ramping up the normal payout ratio at the same time. The amounts concerned are not going to be worth a tender offer or other convuluted mechanism.

As I understood it the Leadenhall issue was deemed to be down to an external supplier of the fixings? If so I'm sure some recovery is on the cards but likely non material compared to the ongoing cash generation of the business.

[steelwatch100] 28/1/2017 10:12

Thanks rhomboid, all positive, what would be the most appropriate way of returning cash to shareholders? Dividend, buy bask or other?

In the absence of a trading update, Perhaps the next guidance on continued market performance will be biln. results sometime in March?

As a side note, from memory the main contractor was Laing o'rourke on the cheesegrater, hope sfr has sorted out any claim issues with them, as laing are part of Hinckley pt, construction team!

[rhomboid] 28/1/2017 06:25

The last Finals RNS said;

"
The contract remedial costs in the prior year related to the programme of bolt replacement works at the Leadenhall building, a contract that was completed in 2013. They were treated as non-underlying costs in accordance with the Group's stated policy. This work is now substantially complete and the actual costs of the programme are consistent with the non-underlying charge of £6.0m which was recorded in 2015. Notwithstanding this, discussions remain ongoing between the Group and the other parties involved to determine where the ultimate liability for the programme costs should reside. Similar to 2015, no account has been taken of possible future cost recoveries from third parties, as these cannot be recognised under IFRS."

..and

"The Group has a progressive dividend policy which has been further refined by the board during 2016. Funding flexibility will continue to be maintained to ensure there are sufficient cash resources to fund the Group's requirements. In this context, the board has established the following clear priorities for the use of cash:



§ To support the Group's ongoing operational requirements, and to fund profitable organic growth opportunities where these meet the Group's investment criteria;

§ To support steady growth in the core dividend as the Group's profits increase;

§ To finance other possible strategic opportunities that meet the Group's investment criteria;

§ To return excess cash to shareholders in the most appropriate way, whilst maintaining a good underlying net funds position on the balance sheet."

So the scene is set, there's been no mention of 3rd party recoveries of any of the £6m yet so any would be a bonus

[steelwatch100] 27/1/2017 18:07

Somebody mentioned a "special dividend".
Presumably, this will rely in part to the recovery of sfr's 6m remedial spend replacing the bolts on Leadenhall st. Its a couple of years ago now so we could do with an update.
Any news/thoughts anyone?

[cc2014] 27/1/2017 15:07

So, lol, there's a largish 485k trade which presumably is reported late and can't be a buy as almost no volume has gone trough below that price. Therefore a sell which has been holding the price back.
Does that mean the seller is finished? Who knows but it's a good sign

[cc2014] 27/1/2017 12:54

Streams of buys going through these last couple of days. Clearly a large holder is letting go some of their position go against the flow. Sooner or later they will finish and the next step up will follow

[katie priceless] 27/1/2017 09:47

A slight pull back on higher volume , another higher low and then back on track again i hope.

[rhomboid] 26/1/2017 06:36

Thx Rivaldo fwiw I find twitter speeds up the way I can sift information and ensures that I pick up relevant views and titbits of information. Interesting and surprisingly racy list! On SCH I'm a non gambling investor and at some point Teddy Sagi might come unstuck in spectacular fashion so that isn't for me even though it looks crazy cheap. INSE is one I've looked at before but the energy intermediaries sector is on my no fly list as well, GMAA is one I like but don't hold as yet as it's awaiting fresh funds .

Thanks for the response, I'd throw in AIEA CAPD GMS CRL RBN IPX BILN PEG SOLI as being worth tyre kicking as all bar GMS & RBN* have net cash and low ratings and are showing nice trading trends. *RBN is a property play that'll play out in the next few months imho

[cockerhoop] 25/1/2017 23:51

Rivaldo,

Following on can I ask roughly how many stocks you hold as you certainly appear on many of the company boards I frequent :-)

[greenroom78] 25/1/2017 15:56

Good call, groom Rivaldo into getting a twitter feed - he'd make a great follow!