Balfour Beatty Share Discussion Threads

[losses] 17/8/2013 13:34

looks like a ascending triangle so need to break above 249.

[craigends] 16/8/2013 19:12

shorters getting out perhaps?

[redips2] 16/8/2013 15:58

neither did i ! v good though :)

[losses] 16/8/2013 15:36

one heck of a bounce back...didn't expect it so soon :)

[kazz] 16/8/2013 14:50

Picking up well.

[haywards26] 16/8/2013 13:46

I do think 230-250 is around fair value for now, with a steady rise to £3 and beyond once the turnaround in results is published over the coming months. In the meantime a nice 6% divi is good.

[losses] 16/8/2013 08:41

Thanks Skinny, nice surprise this morning :)

[skinny] 16/8/2013 07:42

Liberum Capital Buy 226.00 226.00 190.00 250.00 Upgrades

[losses] 15/8/2013 21:44

gswredland, I reckon around 216 for the first bounce...

[hvs] 15/8/2013 18:10

Lets give them a BONUS a a lot more FREE SHARES.

Its the English "culture" or shall we say vulture.

[gswredland] 15/8/2013 18:06

Interesting - thanks Losses. Wonder where the bottom will be. Surely support at 210?

[losses] 15/8/2013 15:16

Balfour Beatty boss bullish after bad first half

14 August 2013 | By Allister Hayman

UK construction boss says there will be "no more nasty shocks" after business posts £35m operating loss in first half of the year

[drewz] 15/8/2013 15:05

I sold at 240p after foolishly ignoring my alert to exit at 250p before results.

Will consider re-entry c.210p.

However, Costain (COST) may be worth a look as a better bet for growth with income in the infrastructure/construction sector.

[wipo1] 15/8/2013 14:23

Yeah 180p i would be interested

[haywards26] 15/8/2013 13:13

Interesting article

hxxp://www.building.co.uk/news/balfour-beatty-boss-bullish-after-bad-first-half/5059148.article

[miata] 15/8/2013 07:49

Ultimately it will be a recovery play but I'm waiting for it to get lower first.

15 Aug 2013 Balfour Beatty PLC BBY JP Morgan Cazenove Underweight 0.00 233.10 200.00 180.00

[losses] 14/8/2013 20:18

Construction firm Balfour Beatty (BBY) booked a 70% fall in pre-tax profits for the first 6 months of the year as problems in both of its UK and Australian businesses refused to go away. Its Australian arm was hit by a drastic reduction in the number of natural resources projects on the go while its UK division struggled to gain traction in a market with a distinct lack of new infrastructure projects. However, these troubles have long been flagged by the company and Balfour Beatty still insists that it is in line to meet market expectations for the full year. The shares dived by 17p to 233.1p.

[birdsedgeuk] 14/8/2013 17:12

Suppose itll recover in time...traderdiarycouk closed short this aft

[haywards26] 14/8/2013 13:33

Some press coverage

[haywards26] 14/8/2013 13:18

These results were always going to be poor, as flagged by the two previous profit warnings and guidance that the current year shall be heavily weighted towards the second half of the year.

The last few months appear to have picked up and hopefully BBY are now over the worst of it and results will not start to pick up.

It was important for market sentiment that the divi was at least maintained.

I am confident over the medium to longer term this is a sound investment.

[losses] 14/8/2013 08:59

apart from the divi... it doesn't look very rosey. Could be heading back to 230!

[losses] 14/8/2013 08:32

Infrastructure group Balfour Beatty said revenue, including joint ventures and associates, fell 3% in the half-year to end-June to £4.967bn. Underlying profit from continuing operations fell 67% to £52m (2012: £156m).

Balfour's share of underlying post-tax profits from continuing joint ventures and associates reduced to £30 million from £50 million last year, principally due to the impact last year of favourable resolution of bad debts and claims in the Middle East.

Underlying profit from continuing operations decreased by 67% to £52 million (2012: £156 million), including the benefit of £45 million of gains from PPP disposals down £7 million from the first half last year. Net finance cost of £7 million was slightly up on the prior year (2012: £6 million). Underlying pre-tax profit from continuing operations therefore decreased to £45 million (2012: £150 million).

Interim dividend was maintained at 5.6 pence per share.

Order book was up 3% at £13.9 billion with a strong US performance.

Firm action was undertaken to address UK construction underperformance and a swift response to market deterioration in Australia is expected to deliver Group performance in continuing businesses in line with current market expectations for 2013.

Further strategic progress with 67% of order book now in economic infrastructure.

Agreement to sell WorkPlace, the UK FM business, for a consideration of c.£190 million.

Andrew McNaughton, CEO, said: "Our markets continue to be challenging, but our actions are delivering the intended results. With sustained focus on operational delivery, we expect to achieve a performance in our continuing operations that is in line with the current market expectations for 2013.

"In the longer term, our goal is to capitalise on the growth in global infrastructure from an international footprint of local businesses. The benefits from this focus combined with the impending recovery in some of our mature markets position us well for the future." Story provided by StockMarketWire.com

[cwa1] 14/8/2013 07:18

Order book up. Dividend maintained and the comment about strong balance sheet suggests that will continue? Results in line. About as good as gets under the circs(on a first, very cursory admittedly) glance?