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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Wsp Grp. | WSH | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 434.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 434.00 |
| Top Posts |
|---|
Posted at 20/6/2012 11:39 by praipus Noting First Eagle increasing their long CFD position here I thought viewers may be interested to know what else First Eagle are investing in. So I have dedicated a post on the WAM thread to their known holdings. |
Posted at 11/6/2012 13:28 by 25babies 20 Dec 2011Good to see the directors buying at 188p today. 9 January 2012 WSP have been a prime candidate for t/o. They were in play at the time Scott Wilson were taken over. This sector will continue to consolidate with UK consultancies being swallowed up by US companies. 10 January 2012 I maintain that WSH is a likely t/o candidate - has been for some time. They are second rung (in size) competing with more global types - ideal material for providing muscle to an existing global player that needs higher exposure in non -traditional USA markets. Of course one of the larger UK consultancies may look at WSH as a defensive play as well - but less likely. For once I got it right - ok it was a Canadian not a US company |
Posted at 07/3/2012 18:05 by cerrito Just got round to looking at the 2011 prelims and I would agree with the Chairman on 2 counts: that 2011 trading was resilient and that market conditions will remain unchanged.I find it very difficult to value; certainly would not buy more but the lingering hope of a takeover and sterling's weakness do provide support. As I have stated before another consideration continues to be how much Scandinavian exposure one has in one's portfolio. One item I have not really focused in on before is the pensions deficit which at£61.6m is getting rather large in the context of a current marcap of £166m odd. Note no dividend increase and not realistic to expect one; I assume they would have been just as happy to cut but did not want to frighten the horses. Was interested to see that current marcap is at a slight discount to book net worth at 12.11 of £177m but of course if one takes out the intangibles it has a net worth deficit of £32m. Given the importance of goodwill in the balance sheet I placed special attention on note 7 evaluating the Goodwill. For a company like WSP this note is crucial but inevitably there is a lot of mumbo jumbo; I note given decrease in interest rates they lowered the discount rate from 10.7% to 9.1% and it would have been interesting to know how much the impairment would have been if they had not so lowered the discount rate. Interested to see how UK Roads have affected them, while Costain today were very upbeat on UK roads.perhaps reflects that Costain more in maintenance and construction. Compared the geographical source of revenue between 2009 and 2011: see that the UK went down from £254m to £209m-quite a drop but Europe up from £234m to £283m. Africa, India and Middle East fell from £73m to £60m. Incidentally was half expecting to see reference to bad debts in Abu Dhabi but perhaps that is all history. At the end of all this not much clearer if I should hold or sell. |
Posted at 23/1/2012 19:45 by bend1pa Well I'm out today. A 28% gain in just over a month was too tempting. It has shot up a bit too far too fast for my liking, and I'm sure WSH will recover further in time, but there's plenty bad economic news to come this year. |
Posted at 10/1/2012 10:10 by 25babies Another 25000 buy - this am. I maintain that WSH is a likely t/o candidate - has been for some time. They are second rung (in size) competing with more global types - ideal material for providing muscle to an existing global player that needs higher exposure in non -traditional USA markets. Of course one of the larger UK consultancies may look at WSH as a defensive play as well - but less likely. |
Posted at 09/1/2012 23:14 by bend1pa No this doesn't look like takeover activity at all. Far too little trade even for a small company like this. You'd expect to see heavy trade for a number of days.However again some rather strange happenings going on in WSH shares. There's usually little activity going on in these shares on a daily basis with small quantities of shares bought and sold. But on Jan 5th someone bought 2 lots of 50,000 and another lot of 25,000 which is conspicuous in itself. In the intervening days, again little trade until today. 2 lots of £50,000 are sold, then nearly 2 hours later another 50,000 bought with another 25,000 at the same time, all ordinary deals. Then 2 hours later 2 lots of 25,000 shares sold. I'm presuming all these deals are being done by the same people, meanwhile the share price has surged since December. With such a big spread normally on these shares it's difficult to comprehend why someone would risk trading these all within the same day and successfully by the looks of it. |
Posted at 26/10/2011 21:28 by cerrito Decided today to follow the example of Schroders and increase my exposure after the recent falls. I had been thinking of selling out completely to simplify my portfolio but missed the chance when they were 275ish.They are right to say they have good geographic diversification; indeed only £1.8m of the £15.4m first half year 2011 group operating profit comes from the UK and £9.8m from Continental Europe- the vast majority from strong Sweden. They seem to feel comfortable with the world wide demand for their business. Yield is 6.8%; no chance of a dividend increase but dividend seems reasonably secure. Financial position good and bank lines in place till 2013. Influenced by some extent that as per both Liberum and RBS there is takeover potential |
Posted at 28/6/2011 17:06 by cerrito Note that the UK Transport sector which they single out had a bad 2010 compared to 2009 ie revenue fell from £120m to £83m with operating profit from £9.2m to £4.8m, still a sizeable proportion of overall operating profit of £38m in 2010.Have sold out alot over last 9 months so had very little this morning and did a modest top up. Could not make the AGM this year. While management seems reliable not sure how sharp they are. Given they have been aggressive dividend payers be interesting to see if there is a cut. |
Posted at 05/4/2011 15:30 by mechanical trader Another look at the WSH chart and rather bearish is the outlook. As one can see the share price is just about to fall through the floor of an up trend channel. Their is support around the 330p area.The weekly chart backs up the daily chart with a bearish shooting star having formed over the last week on the chart at near the top of the uptrend. |
Posted at 03/3/2011 18:40 by cerrito Been having a look at the interims.Basic view is that the current share price for me is pretty much on the mark and at a pe of just under 10x reflects the fact that the company has balance sheet strength, a good geographic and product diversification but will continue to face headwinds. I guess one relevant factor in holding it is how much exposure one has to Sweden (37% of group revenues) in the rest of one's portfolio. Note 5% reduction in their order book at 12.10. They are quite aggressive with their dividend payments; in 09 their operating cash flow less investments was £6.7m lower than dividends of £9.5m and in 2010 the comparable figures were £11.9m and £9.6m. Obviously have been hit by Dubai in the last couple of years.. To those concerned by recent events spreading to Gulf, this should be manageable. We do not have ME results spelt out but the geographic division ME, Africa and India has had a loss in the last two years of £1.1m and £1.4m and last year revenues dropped from £7.4m to £6.3m. All in all a bit of a yawn. |
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