Billington Share Discussion Threads

[thecroots] 07/6/2013 11:48

PMSL at the director buying!!

Probably cost more than their total consideration to publish the RNS.

[arthur_lame_stocks] 15/10/2012 21:09

These look cheap, but delisting has to be a major risk.

[jonwig] 20/3/2012 08:32

Quite so - I thought SFR's numbers (also today) were weak but these are dire.

I've said before that they're a candidate for delisting (same major investor as Tolent Constr. which delisted a couple of years ago) That should be enough to keep buyers away.

[envirovision] 20/3/2012 08:26

Actually no reason to consider was maybe being a little nice, lets cut to the chase here, They are completely and utterly outright uninvestable.

[envirovision] 20/3/2012 08:24

Reading this, the board would have you believe they have done a fantastic job, however the figures paint a different reality entirely and strip them of all credibility.

Perhaps if they were more truthful about their managerial shortcomings one could cut some slack and feel sorry about events, but sadly not and there remains no reason to consider these, even 1 full year on.

[envirovision] 15/3/2011 20:46

worth keeping on the watch list but no reason to consider getting involved this year for sure i should think.

[ibrahim1962] 15/3/2011 17:11

GCI comment on Billington

[envirovision] 06/2/2011 14:15

severfield having a really poor market update last week, not looking good at all.

[envirovision] 18/11/2010 20:50

Thanks, shame really at this level it may have been worth starting to build a small holding, alas its pretty much uninvestable having that as a majority shareholder.

[jonwig] 18/11/2010 07:27

EV -apologies for delay ... I was out of action yesterday. This is my take on your question:

[envirovision] 16/11/2010 20:28

So who is the/ are the holder/s of the 49% holding then?

[jonwig] 27/10/2010 19:01

Billington have been very weak recently (UK No.2 to SFR). I posted this on the TLT and SFR threads:

Steel constructor Billington [BILN] has been weak lately and might now be in bargain territory.

Either they are suffering from squeeze by Severfield-Rowen [SFR] the market leader or there is speculation that they will go the way of TLT, as they were a spin-off some years ago and share major invesors.

If it's the latter, any information on how shareholders in TLT are being treated (or on off-market trades) would be welcomed.

[deswalker] 15/1/2010 12:01

jonwig,

Check out the shareholdings at BILN and TLT. The same "foundations" own the two in virtually the same proportions and they even RNS'd these numbers for each company on practically the same day last Nov.

Theoretically this has to be a big short if one could trade the short side for such micro-caps. However timing is an unknown. Maybe they'll wait and see how the TLT deal goes first or maybe they'll announce it in the next few days, but it must be going the same way IMO.

SFR ... looked last year at the low but couldn't get over the large number of Directors getting paid large sums of money. It looked cheap but to me it felt like a cash cow for them and so I passed. Since then it has bounced a lot and has fallen back a bit I think. Good luck with it.

Des

[jonwig] 15/1/2010 11:19

Could be, Des.

My interest in this is as a shareholder in SFR, the UK leader. They are obviously tendering on tighter margins and taking an increased share of the limited UK market. BILN have been pretty tight-lipped on recent trading, and I suspect they are feeling the pinch.

[deswalker] 15/1/2010 11:13

This must surely be going the same way as TLT (delisting announced today). Same history, same principle shareholder owning practically the same proportion of the company.

[ddahj] 13/1/2010 12:53

Everyone should own some of these shares. Buy/sell 25% difference. Beware market makers, IPOs of small companies.

[jonwig] 15/9/2009 07:25

Interim results:



Very similar outlook statement to SFR and company is on a slightly higher earnings multiple. Dividend trimmed a bit, but was always lower than SFR's.

Comment:

[jonwig] 21/5/2009 08:24

Hi - I wouldn't dream of asking you for confidential information! I think "the order book is ok for the next 6 months" is more or less the situation with SFR, apart from the big London Bridge development and their forthcoming work in India.

[11k3v11] 19/5/2009 14:59

Im not sure what info would be usefull to you, i am still finding my feet. What i can say is the order book is ok for the next 6 months

[jonwig] 15/5/2009 07:14

I'm a holder of SFR, the UK market leader in the sector (BILN is No 4 I think).
hence I want to compare valuations, statements made by each company about the market, etc.

At present I've no intention of buying shares. If you can pass on any general info it would be appreciated.

[11k3v11] 14/5/2009 21:49

what makes this a share worth looking at? i have friends who work there.

[jonwig] 14/5/2009 11:32

Debt free, MCap £20m, Net Assets £15.5m (all tangible).

Director holdings not substantial, can't locate any other significant holdings.
Was attempted MBO in 2007, came to nothing.
In theory vulnerable to takeover, but SFR would have competition issues, agreed Cambium.

eps 28.2p so PE of 5.5.
Dividend of 11.5p so yielding 7.4%.

Need to compare margins with those of SFR. Not easy really, as 2007 numbers were distorted by big disposal programme.

Spread looks nasty - rarely traded.

[jonwig] 14/5/2009 09:11

Haven't really looked yet, Cambium.
But keeping an eye on what these chaps have to say (and the share price) will be a useful exercise, I think!

[cambium] 14/5/2009 09:05

What do you reckon, bid maybe, although I dont think it will get through the competition commision.

[jonwig] 14/5/2009 08:52

SFR's only UK-quoted competitor, I believe. Listed on AIM.

Interview: