Tclarke Share Discussion Threads

[ggbarabajagal] 14/2/2017 12:27

25k buy printed

[scotchbroth] 14/2/2017 11:36

From the RNS, the position after the triggering transaction is that they now have "below the minimum threshold" number of shares, which I believe is 3%. ie less than approx 1.25mln shares.

[ivancampo] 14/2/2017 11:03

Surely they are now below 5% - nothing else can be inferred ?

[ggbarabajagal] 14/2/2017 11:01

cool looking 10k buy just printed

[tw44] 14/2/2017 10:53

The RNS says they have none left and so there should now be pressure on the up side.

[cc2014] 14/2/2017 10:34

Thanks to JPM for the RNS at last. They've been dumping these shares for at least the last 6 months and it's been very frustrating. Who knows how many they have left. I expect they have no reason to continue not selling but nearly every single trade is flowing on the buy side against their selling

[ggbarabajagal] 14/2/2017 10:27

We look forward to updating shareholders further on 28(th) March 2017 with the announcement of our full year results.


They are looking forward to updating
Results are on 28th March in 42 days

In 25 days the T+ boys can get them

[ggbarabajagal] 14/2/2017 10:23

Thats not much of an overhang in cash term 100k, some private punters have that size position

[flagon] 14/2/2017 10:21

Shares outstanding - 41.764M

With a 3% minimum threshold JPM have at most 1.252M shares left after having sold a minimum of 2.866M.

Perhaps the share price can now make progress.

[ivancampo] 14/2/2017 10:01

That's the reason for the overhang.

[cc2014] 13/2/2017 19:50

All the trade flow is one way apart from the seller at 71.0

[aishah] 13/2/2017 10:41

Project looking good at Bloomberg Place

Danny Nightingale updates us on progress at the City of London’s iconic new building

“TClarke has worked on many iconic projects in the City of London, but this really is an outstanding building. The design is by Foster and partners and achieves a BREEAM Outstanding rating. What you notice right across the project is the sheer quality of the materials and the attention to detail within the design. From a practical point of view for us working onsite, this means having a team of people whose motivation and approach is of the highest order - because the working environment is crammed full of extremely valuable materials and finishes - so you need to work with great care. Indeed, the unique location of the site means that we’ve been working on top of some of the UK’s most exciting archaeological excavations - and that an archaeological museum - the London Mithreaum - will be incorporated within the finished development.

“For me, it’s a classic TClarke project, working with Stanhope and the Principal Contractor for Sir Robert McAlpine in a collaborative way to deliver a top, top project. There are so many details here in the design that contribute to the energy efficiency, the quality of the working environment and the sheer beauty of the place - these light fittings behind me (pictured) are just one of many examples I could give you.”

“We are now in the stages of completing the installation on the Shell & Core and fit out within the North building and well in to the commissioning phase, the South building still in the installation phase. As with any major TClarke project, the scope of works gives you an idea of the range and complexity of works we’re delivering.”

[nw99] 13/2/2017 08:43

Almost as people are waiting for results to confirm it then they will buy the stock .

[nw99] 13/2/2017 08:33

Agreed Cash adjusted PE?of 4.7 is so cheap

[onjohn] 13/2/2017 08:12

Can see these way higher by results on 28 March

[aishah] 08/2/2017 09:34

I added at the open on Monday. Here's the SCSW BUY rec:

T Clarke - Cash adjusted PE of 4.7

74.75p Epic code: CTO
(Sharewatch) T Clarke (CTO; 74.75p), a UK provider of mechanical, electrical and ICT engineering services, was once a stockmarket darling and could do no wrong. It operated nationally for many years and successfully across the lifecycle of an asset from design, installation and commissioning to FM. But then it got hit by several busses at once: the recession led to margin pressure; there were two lossmaking offices (now closed); two contract disputes (resolved); and an employee was found with his fingers in the cookie jar to the tune of £2.8m (recovery of this swindled cash underway). But things seem to have cheered up and CTO has issued an exceptionally strong update with full year profits for 2016 expected to be £6m, materially ahead of N+1 Singer’s £4.2m forecast. Based on eps of 11p, net cash of £9.2m (22p a share) and a record £330m order book, the shares are a buy on a cash adjusted PE of 4.7. 2016 results are due on 28 March.

* The writer has a holding

[tuscan4] 07/2/2017 19:49

I agree the pension deficit is a drag. This deficit is artificially enhanced by QE and monetarist policies which are now being questioned , having largely failed, and we are moving back to inflation, fiscal stimulus, and possibly higher interest rates. However with unprecedented debt levels worldwide any rise in rates will be catastrophic. CTO's deficit should be manageable with their contributions profile over the next few years. I have seen many companies with far more onerous deficits.
In my opinion they should be able to accommodate a more generous dividend policy than envisaged by Singer's, indeed the CTO Directors must be concerned about the lowly valuation of their company.

[onjohn] 07/2/2017 18:36

They used to be 300p

[1pvh] 07/2/2017 14:17

It's the pension deficit which will hold back dividend growth.

[tuscan4] 07/2/2017 13:52

These figures look far too conservative. They were wildly out about 2016 and will be again for 2017. The dividend forecast is odd. With cover of 3.5 times for 2016 and a very strong financial position (admittedly it's not all their cash) and with cash backing rising into 2017 why are dividends almost at a standstill?.
This company has historically had much lower dividend cover and although conditions are not the same I would be very disappointed if cover remains much above 2 times.
If they restrain dividend payouts they could be vulnerable to a cheeky offer. Most definitely NOT what I would wish after all the good work they have done.

[cwa1] 07/2/2017 12:14

Thanks for that rivaldo, food for thought.

[rivaldo] 07/2/2017 11:50

FYI here's Singer's update from last week - they go for historic 11.2p EPS for 2016, with a 3.2p dividend:

"Exceptionally strong trading performance

T Clarke’s year end update highlights an exceptionally strong underlying trading performance. Before exceptional items relating to the previously announced fraud at DGR, full year profits are expected to be £6.0m, materially ahead of our £4.2m forecast. The Group’s year end net cash position was also better than expected at £9.2m (£5.4m forecast). A confident outlook statement, a growing order book (£330m, 10% higher than the prior year end) and the strength of recent trading prompts upgrades to FY17. In our view, the shares have been impacted far too severely by the fraud investigation. Post upgrades, they trade on <6x current year P/E with a 5%+ yield.

Event

T Clarke’s year end update highlights an exceptionally strong underlying trading performance. Before exceptional items relating to the previously announced internal fraud at DGR, full year profits are expected to be £6.0m, materially
ahead of our £4.2m forecast. Exceptional charges and provisions relating to the fraud are expected to be £2.2m including £0.4m of professional costs directly associated with the efforts to recover the misappropriated funds. Legal
proceedings to recover the funds are ongoing. The Group’s year end net cash position was also better than expected at £9.2m (£5.4m prior forecast) reflecting in part the timing of major project completions and stage payments received
in the second half. The cash position was 39% higher than the prior year. Banking facilities have been renewed as planned. The order book closed 2016 up 10% year on year at £330m, which also compares favourably to the £320m reported in November. Notable new project wins include two significant London office fit out projects for a social media client and a major asset manager.

Impact on earnings & valuation

We have upgraded our FY16 adjusted PBT forecast to £6.0m, a 43% uplift. We have also reflected the £2.2m exceptional item and have increased our FY16 cash forecast to over £9m from £5.4m. In FY17, we upgrade PBT by 14% to £5.8m and roll forward the outperformance on cash to give net cash of £11m at the end of FY17 (from £6.8m previously). In our view, the shares have been impacted far too severely by the fraud investigation. After today’s upgrades, the shares are trading on <6x P/E, 5.2x EV/EBITDA and yield 5.3%."

[bazzer1000] 06/2/2017 16:38

Small company Sharewatch. Subs service. Never subscribed as I don't do tips but apparently quite good.