Alfred Mcalpine Share Discussion Threads

[miamisteve] 29/9/2005 11:51

Just checked up the support service sector. In the ftse 350, mca is the second lowest rated at 11.3x prospective earnings. Number 1 is compass which is zero growth at 10.4x

[miamisteve] 04/8/2005 09:45

year end consensus is 33.5p. Looks easily beatable after todays numbers & comments.

[lafiamma] 06/7/2005 14:50

exactly.... :o)

[fromtheblue] 06/7/2005 14:48

Not been in this stock for several years, but with the Olympic bid going to London, there may be considerable upside ahead for construction related stocks, whether in project management or complete life-cycle plan and build.

[lafiamma] 12/6/2005 22:33

Yes, cheers steve, I have to admit I sold a bit too early though (around 350p before the stock went ex-div. Still, a profit is a profit, so they say!

laf ;o.

[miamisteve] 10/6/2005 18:46

lafiamma - There's your +25%. Not quite in 12 months though.

[miamisteve] 20/3/2005 14:32

LOL! Was reading through NLR archive and found this post confirming the obvious about spaceparallax -

sranmal - 2 Feb'05 - 11:07 - 2595 of 4145


Posted by spaceparallax on the Regal (RPT) BB:

"Has anyone heard anything official about Kalirachi? I have heard a couple of quite negative, but non specific whispers. This concerns me because of the store that has been set upon that news. Any quick news would be much appreciated because I'm feeling twitchy and finding these shares difficult to hold onto."

Anyone notice the similarities to fugee's post 2591:

"Has anyone heard anything official about the company meeting its revenue projections? I have heard a couple of quite negative, but non specific whispers. This concerns me because of the store that has been set upon that news. Any quick news would be much appreciated because I'm feeling twitchy and finding these shares difficult to hold onto."

Another idiot exposed.

[miamisteve] 18/3/2005 11:10

In many respects I agree. Profits are no where near the £60m when they owned the housebuilding division and would've moved on by now. At the time the housing market did look toppy. Getting back into housing now would be a disaster for the sp, mcalpine seem finally to have digested their acquisitions and look set to deliver sustainable earnings growth and margin improvements in the years to come.

[mike180] 18/3/2005 09:55

This is the Company that moved away from house building in 2001. Since then there has been the biggest boom in house builder share prices ever. Now the Company sits on loads of low margin work that cannot cope with the occasional project( and they seem to hit McAlpine more than any other contractor) which looses big sums of cash. McAlpine needs to get back into house building where there are good margins of 15%, not the measly 3-4 they obtain.

[miamisteve] 17/3/2005 16:38

Bad auction. Another 1000 shares would've taken us to 317p ut

[miamisteve] 17/3/2005 14:42

I disagree topping up this morning @ 306p was clever!

[lafiamma] 17/3/2005 14:33

miami, I agree, was just trying to be clever and failing, lol!

laf ;o)

[miamisteve] 17/3/2005 14:27

Most of MCa's business has moved away from traditional low margin construction. It's a support service and infrastructure stock with long term contracts and at some point should be rerated.

[lafiamma] 17/3/2005 14:15

Calm down dear, it's only a construction stock!

(but I agree, dirt cheap, easy 25%+ upside over next 12 months, imo)

laf :o)

[miamisteve] 17/3/2005 14:05

We've had a promise of double digit earnings growth so that would be eps of 34p+. After payment of divi, cash should be at around £50m next year. If this was used to rebuy at current shareprice p/e would be 7.8!!!!

[miamisteve] 17/3/2005 10:49

Level 2 - 127k v. 67k

[miamisteve] 17/3/2005 09:06

Mike get with the program ... the exceptionals were announced in december
forward p/e less than 10 + £35m cash in bank.

[lafiamma] 17/3/2005 08:06

Great results, I'm in for more at 306

[mike180] 17/3/2005 08:05

What a disaster. Actual profit of £11M. £27M poured down the drain on loss making contracts.
This Company needs a new board asap

[miamisteve] 09/1/2005 17:18

Shawzie - Did you realise that this company disposed of it's house building division, which is the reason for the fall in earnings. Since then they have been restructuring, buying back shares and purchasing bolt on businesses which may account for a fall in shareholders funds.

My pre-tax profit figures mirror those that you have quoted except I don't know where you got £-7.7m for 2003 from. Try £30.6m. Forecasts are for double digit growth from here on in.

[shawzie] 29/12/2004 13:39

What a disappointing company over the past four years ;
1..turnover pretty static
2..pre tax profit has fallen steadily £60.18m £43.90m £21.70m £-7.70m
3..shareholders funds after stripping out intangibles has also fallen, if not
steadily, perhaps by leaps and bounds £264m £264m £179m £171m

Is there now a ray of light in the eps improvement for 2003 with the share buy-back program 42.20 36.80 13.30 22.30 or is this a company where the share price has outstripped the performance of the company and needs to be corrected sooner
than later?

[spaceparallax] 10/12/2004 10:47

Hey Vice man, sounds like you woke up on the wrong side of Walrus's bed this morning. Thank's for the balanced, impartial feedback. Time will tell. Happy Xmas to you too!

[spaceparallax] 09/12/2004 11:39

Mike, I may already have said too much. Apologies to Walrus, no 'nasty tricks' intended, but I got stung on BSS and hate to see other small traders suffer similarly. That's all from me for now folks. However, Walrus might wish to provide tangible reassurance from his informed vantage point?