Carillion Share Discussion Threads

[rcturner2] 01/3/2017 07:58

Total pension assets relating to these liabilities are £2,572.7 million (2015: £2,302.4 million), which results in an IAS 19 deficit of £804.8 million (2015: £393.5 million) before deferred tax and £663.2 million (2015: £317.6 million) after deferred tax.

[w1ndjammer] 01/3/2017 07:57

We will also begin reducing average net borrowing by stepping up our ongoing cost reduction programmes and our focus on managing working capital."

WJ.

[jaf1948] 01/3/2017 07:56

The RNS says 'Net retirement benefit liability (net of taxation) £663.2 from £317.6m in 2015'. Where do you get £400m to £800m ?

As we all know, the pensions deficit is caused by low bond rates. The company is very aware of that and is in constant discussion with its Pensions Trustee to keep it at a manageable level until bond yields improve.

[edmundshaw] 01/3/2017 07:54

Net borrowing was adversely impacted by foreign exchange rate movements amounting to £68.2 million. Without the forex hit the debt would be down by £18m. Some things are not under the company's control, and the US dollar strength/Sterling weakness are two of them.

[chris1604] 01/3/2017 07:50

These results reflect a company going nowhere.The company are saying we are not as bad as all that.
There is nothing in the results to be optimistic for 2017.The dividend should be rebased to reflect the current share price. The company's stated main objective is to reduce its debt,given the low profit margin it's difficult to see how this can be achieved without at least halving the dividend.
I sold the majority of my holdings at a loss,including the dividend I think the remainder will follow probably today

[ny boy] 01/3/2017 07:49

Will Phillip Green be appointed pension deficit advisor? 😁

[rcturner2] 01/3/2017 07:45

Valhamos, can you point to another company where the pension deficit has doubled from £400m to £800m in one year?

[this_is_me] 01/3/2017 07:45

The final dividend of 12.65 pence per share will be paid on 9 June 2017 to shareholders on the register on 12 May 2017

It will be interesting to see if that affects the shorting of the shares.

[lab305] 01/3/2017 07:39

Yes and that mostly due to a .25% cut in interest rates. If they go back up just 1% that would be fixed.

[valhamos] 01/3/2017 07:37

"Pension deficit has ballooned" - pretty much as expected. It's happening to a lot of companies at the moment with low bond yields.

[123trev] 01/3/2017 07:36

Not good borrowing up and paying down debt has to come from future cuts to the divi what the shorters and Everyman and his dog already new.Expect the share to keep falling over the long term.

[alfred] 01/3/2017 07:33

The pension deficit has ballooned!

[neilyb675] 01/3/2017 07:31

Get in there✔

[lab305] 01/3/2017 07:16

How about having to pay out 8% ?

[cw2000] 01/3/2017 07:16

That'll do.
Nothing to get excited about from either side.

[jaf1948] 01/3/2017 07:15

I hope all the posters who have been telling us that shorters know more than the rest of us will at least have the decency to admit they are wrong.

[rcturner2] 01/3/2017 07:15

I think you can take what you want from those results, a mixture of good and bad. Nothing to stop the longs from continuing to hold but nothing to change the minds of the shorters either.

[lab305] 01/3/2017 07:13

Steady as she goes. No bad news. Dividend up. Commitment to reduce borrowing. As expected this company has been unjustly targeted and no way should be trading with a PE of around 8.

[11_percent] 28/2/2017 21:33

When the bod collide with the shorterrs, to make money.

Is this happening.

[11_percent] 28/2/2017 21:32

BoD. Leaking.....

[candid investor] 28/2/2017 19:11

Well having gone substantially long a couple of weeks ago will discover the wisdom or folly of my candid analysis tomorrow morning. In my view I believe that all things remaining equal the company will declare a final dividend of 12.7 pence and reiterate their business as usual statement.
To do anything contrary to that would prompt the question of why they mislead investors in their last update.
There is a slight caveat to that in that they did say that they only had visibility of 70 % of their 2017 revenue and haven't read of any new wins since that update so that may derail the dividend., particularly as it was 84 % at the equivalent stage last year ..but with a total forward order book of £17.4 billion which was the same as last year that means that with a 5 % margin they have guaranteed operating profits of c £850 million within their order book...hardly a crisis...

[jaf1948] 28/2/2017 17:18

'up on the inside leek'

I know it's St David's day tomorrow but I still think it should be leak not leek.