Share Name Share Symbol Market Type Share ISIN Share Description
Carillion Plc LSE:CLLN London Ordinary Share GB0007365546 ORD 50P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 14.20 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 5,214.20 146.70 28.90 0.5 61
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 14.20 GBX

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Posted at 27/1/2023 08:20 by Carillion Daily Update
Carillion Plc is listed in the Construction & Materials sector of the London Stock Exchange with ticker CLLN. The last closing price for Carillion was 14.20p.
Carillion Plc has a 4 week average price of 0p and a 12 week average price of 0p.
The 1 year high share price is 0p while the 1 year low share price is currently 0p.
There are currently 430,254,629 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Carillion Plc is £61,096,157.32.
Posted at 15/1/2018 14:44 by hpcg

1: Spend some time educating yourself, read a few books, get an understanding of accounts, get an understanding of charts (some people are fundamentals only, some technical only, I couldn't do without both). Get to understand how the market works, why share prices moved the way they did on announcements. I'm afraid the message boards are your enemy here; there is no way to distinguish between the wheat and the chaff until you already know what you are doing.

2: Be prepared to later dedicate time to researching investments and continuous learning, honing of skills.
3: Don't expect to get rich quick.

There is no easy way I'm afraid.

If you want some actionable things to limit losses for now:
1: High dividends are a warning sign.
2: Low PEs are a warning sign.
3: A share price trending lower is a warning sign.
4: Cut your losses as soon as you reasonably can. The earlier you do the easier it is.
5: Everyone has losers. Everyone. Every single person without exception. Successful people take their loss and move on, unsuccessful people "wait to get their money back".
6: Monitor your performance. Until you get a reasonable success rate keep stakes in individual companies low, and your portfolio diverse. Stay in the game until you can reliably make money.
7: The investment industry will say you can't time the market (because they want your fees all the time). You have to be able to time the market, and each instrument within it. Nothing goes up for ever and one day this bull market will at least correct. Same with individual shares. It's difficult, and no one is perfect. You have to find your own style here.

Posted at 13/1/2018 19:23 by hpcg
Insurance Insider published on Friday that trade credit insurers were no longer offering insurance to Carillion suppliers and subs. appears to be down as a write, but City A.M. has a derivative report httP:// Cash up front from now on; the working capital they had manufactured by getting paid on time by the government and then hanging out their suppliers for 4 months or more, evaporates. CLLN has been running something that is analogous to a Ponzi where they needed ever more projects so that government payments could cover up for the fact that project were often cash negative. This becomes a viscous cycle where they have to low bid to guarantee getting the volume. I'm pretty sure there is nothing illegal in doing this, but it is inevitable that the plates in the air will one day come crashing down.

post script - insurance insider web site is back as I finish this httP://

I should imagine this (Euler Hermes et al refusing cover) is what triggered the share price collapse on Friday as it means CLLN will struggle to trade going forward.

Posted at 13/1/2018 16:50 by cc2014
Thank you for your post Winston. Sorry to hear of your losses on CLLN.

It's always good to hear from people who are close enough to what's going on to give us a real insight.

I had always known that the issue for CLLN was going to be the subcontractor and supplier credit terms but it had not entered my head that this would lead directly to an increase in costs. All this in an industry with really tight margins.

I suspect but do know for sure that this is what has led to the £300m short term liquidity problem, which the banks think is too low. I could hazard a guess but if this is going on at every site, it might take a £750m+ to inspire enough confidence in the supply chain to keep the work going.

But I suspect even that is not enough now. I don't know what the liquidated and ascertained damages would be on a new hospital 6 months on Midland Met and Liverpool isn't handed over either. Maybe £50k a week? I know CLLN will try to mitigate the LAD's by blaming the client's design team but they will be wise to that.

So, even if the government handed over £750m, CLLN are just going to be back with their cap in hand in a years time when the clients won't pay due to LAD's and CLLN can't get their retention money.

Is it any coincidence that CLLN are asking the government to guarantee payments on on-going work on a timeframe. As they are worried they won't get paid by the client i.e. the government due to non performance on the contract.

What a mess.

Oh.. and then we get to who's going to provide insurance on their performance bonds and at what cost? An absolute mare.

Posted at 12/1/2018 22:58 by pyueck
Guys everybody knew there would be huge dilution before today. But let’s remember that a d4e swap will mean the company has less debt and the company a) potentially will survive and b) the leverage for existing shareholders will be lower.

The share price is 14p, a year ago it was over £3. The fall is not without good reason, I.e the companies profits were a lot of rubbish. However to say that the value of the shares will be 1p after a d4e swap is wild speculation. We don’t know the terms yet. Debt holders won’t be able to convert debt that is trading at 20p in the pound to the current value of the share at face value. They will take a haircut, in conjunction with existing shareholders also having a rights issue or more likely and open offer. Even if the share is diluted 90% this would in know way mean the share will be 1p. It will depend on how much the share is diluted and what the value of the newly structured company is. Hence why banks are keen to ensure the turnaround plan is realistic before they ageee to it.

Again I am not underestimating the scale of the issues and total collapse is a real possibility still. However the rns I think at least shows that administration is not on the cards this weekend (I thought it may well have been) and that discussions with lenders are ongoing. A big part of me thinks lenders will not want to see this one go south, they have nothing to gain from it. So much is up in the air any speculation of what the dilution will be or what the resulting share price after any deal will be is just speculation.

All I think is that today’s share price reflected the incorrect news that the creditors had rejected the proposals and that administrators were waiting at the door. I don’t think it’s quite that bleak, yet ...., and for that reason I see a rise on Monday to around the 20p mark. If a deal could be thrashed out, even just to sort out the short term financing, before Monday it could reach 25p. But as I say the long term value, who knows.

Posted at 12/1/2018 10:40 by cc2014
Yes, although those in the industry have known for 30 years it's been badly run, which is why most of the exposure is with the banks. Santander have rally screwed up with the reverse factoring (where suppliers get paid on time or early typically 30 days for a fee by Santander, and CLLN pay Santander on say 120 days).

This is the only reason CLLN have lasted so long as the supply chain did not have to worry about the low credit quality of CLLN as they were getting paid by Santander. Effectively the supply chain give a discount to get paid early guaranteed by Santander. Of course the supply chain aren't stupid and simply raise their price to allow for Santander's fees all of which means CLLN's cost base is higher than their competitors.

Which incidently may influence the government's decision to intervene if they understand that Santander will take the hit of £500m on this not the supply chain.
Of course not everyone will be using the reverse factoring and I think although its only my view that this is why Santander are understood to be far more unsupportive of additional funding than the rest of the banks.

Posted at 12/1/2018 09:21 by cc2014
A company where they need to keep the juggernaut rolling as they need cash from the next contract to pay for the current one, as in the construction industry you tend to get paid in 14 days but pay out in 30, 60 or 120 in CLLN's case.

Cashflow is easy if you're expanding, if you contract you have a problem.

Then came their expansion into service contracts where there are large up front costs which leach cash at the beginning and then become cash cows at the end. CLLN took on too many of these and tried to finance it from the construction cashflow. They knew they were in at a loss but needed the cash.

If you go and look at the most recent analyst presentation on their website you will see charts of typical cash flow for construction and service contracts.

Somewhere there is an admission they were funding the service contracts from construction contracts but I don't have a link handy.

Finally there's CLLN's reputation problem. Example where they can't get paid for the middle east job where we don't even know if they can collect the £200m or owe even more. So, they have to compete on price, which is a problem in an industry on tiny margins, especially where your interest bill is far higher than your competitors.

Got to go now. Need to focus on some construction companies where the share price going up. NMD yesterday up around 15%. CTO on the move over the last few weeks and buyers out again today. I know it's great to catch a falling knife and multi-bag but there are lower risk trades out there which can still multi-bag. Go look at CTO and read the last 500 posts and then make a decision. NMD too Opportunities in other sectors too

Posted at 09/1/2018 08:30 by cc2014
Monday's news. I assume it explains the share price rise in that a company that should be bust is being "supported" albeit not directly by the government

The government has been putting pressure on lenders not to pull the plug on Carillion as the company’s fight for survival intensifies.

City sources told the Enquirer that ministers and civil servants have been exerting their influence on the company’s bankers to buy Carillion time.

One said: “This is one of the most political situations I’ve seen.

“The government don’t want to see thousands of job losses and have been leaning on the banks to keep things afloat.”

Carillion is due to present a new business plan to its lenders this week in a bid to reduce debt and win more funding.

A series of profit warnings have seen the firm’s share price collapse by 90%.

The source said: “Think about it logically. This is a firm around £1bn in debt with a market cap now of just £80m.

“Those numbers say it should have gone by now but it’s still in business.”

Carillion employs more than 40,000 people and is a major supplier to Government.

Posted at 08/1/2018 09:52 by fenners66
Shorts were 15.59% in December and 16.2% now - so depending upon the time frame you can spin it either way.

One thing that does not change which ever way you spin it - this is still the MOST shorted stock on the market after all this time.

Debenhams is the second most shorted stock and look what happened there - share price down 38% in 12 weeks and bad Xmas trading update.

Seems to me these shorters are getting more accurate in their assessment of poor performing companies ( that is companies not share prices).

Posted at 04/1/2018 09:22 by cc2014
So, my view. This stock is now worth £72m and we are at the point where a significant proportion of the stock will have transferred from "institutions/funds" to PI's.

With a market cap of £72m an analyst wouldn't spend much time on it. Except we have the debt and the bondholders. To renegotiate the debt, the bondholders are going to be demanding all sorts of information, all of which they will have before we do.

So, they will know well before us where the share price goes next. Given the advantage they will always make money and screw the PI.

Best to find another £72m stock where you can spend lots more time on it than an analyst and find a key piece of information to give an edge.

All in all I think this is worth zero as I don't see CLLN trading their way out of this and I don't think they can raise cash fast enough without selling the parts with good profit streams, which leaves them less able to pay future interest payments.

They have several problems beyond just the financing - terrible reputation in the industry for not paying their subcontractors, too many jobs not getting completed on time. Leads to lack of confidence. Customers will be wary and competitors won't be willing to partner them on the very big projects.

It may be worth a punt but not yet. I'd want to see what the auditors are going to say about their year end accounts and specifically valuation on work in progress.

Price wavering today. A massive 1m buy order left from last night at 16.8 holding the price up.

Posted at 22/12/2017 10:24 by wallywoo
hey carbon, we have had traders being bullish on clln since well over £2 share price Was just trying to even out the bull comments. I am not trying to patronise you, just provide balance.

I believe this small bounce this morning will get sold into, later in the day. And ultimately the company share price will stay low until it enters administration.

There were lots of thumbs up for bull comments then too. Did not do them any good though

time will tell who is right

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