I agree Sophia. The EV relative to profits is absurd. |
I believe that 2024 adj EPS will be in excess of 13p, as there will be a nice financial income from cash. The stock remains extremely undervalued on all metrics. Perhaps one of the cheapest stock in the UK market. I am also surprised that there are apparently no interested parties in buying the whole company. EV is about 90mm for an EBIT of 42... |
Panmure haven't changed any of their numbers following the trading statement. 2024 EPS 12.4p (adjusted) v 11.9p in 2023. They are, however, looking for 14.3p this year and suggest that COST is closing in on its margin targets a year early. For me, the best feature of the statement was the strong growth in the Order Book which pretty much guarantees growth for several years after a dull 2024.
I am at a loss to understand why COST isn't being acquired. |
I'm in for a trade averaging at 92p.
-Fears overdone
-Price retreats from 110p
-Statement confirms continued bullish trading with highly encouraging order book growth
-This very short term chart blip aside, this is a standout performer in our smaller cap market. You don't see too many charts like this.
-Barring some major crash in the US on the back of AI competition concerns, expecting the price to at least head back into that 100p-110p range on the back of this.
-Intraday was pinging about between 90p and 92p with a buyer in size at 90p picking up blocks in 10k icebergs.
Yeah, that is about it for now.
All imo
DYOR |
Think this is a bargain at these levels. An impressive order book increase of GBP1.8 bn (30% increase). FY23 future order book was 3.9 Billion and now FY24 is 5.46 billion.At good margins as well now restructuring over last few years has been completed |
Yes it is all wrong what do these people know about running a business At least Trump and Musk for all there negatives know how to run a business and make money. I always worked in the private sector and had to make money for my company to stay employed along with the rest of the workforce. I live with 2 civil servants family members and how different my mindset is to there's |
Agree. Shame we don't follow the American system and appoint people actually qualified to the top jobs. Rather than people who go into politics because they were useless at a proper job. |
What she needs to do on Wednesday is resign But they will only have an even less qualified muppet available |
Chancellor to announce big building contracts on Wednesday |
As i said a few days ago, all pluses intact |
Happy to be back in again here. The recent drop may have been the catalyst for them to issue a well overdue trading update. Either way the sharp increase in their forward work position to £5.4bn (FY 23: £3.9bn) should provide confidence to the market. |
What a show of strength by the Team and Company. That'll put the naysayers in their box. No rumours to be spread here. Move along. |
Well done the management team Great RNS |
 Well done Paul and Costain. Thank you for listening to your shareholders.Trading Update with Strong Forward Work PositionCostain Group PLC ("Costain" or the "Group") today confirms that it will announce its full year results on 11 March 2025. Trading for FY 24 has been positive with Group adjusted operating profit expected to be in line with market expectations and net cash at the end of the year in line with market consensus1. Costain finished the year strongly:· Growing in strategic markets with further significant Water and Rail awards announced in H2 24.· Continuing to broaden and grow its Tier 1 customer base.· Growing its consultancy services, including the engineering, procurement and construction (EPCm) award following the FEED contract for the bp joint ventures Net Zero Teesside Power and the Northern Endurance Partnership, and a second hydrogen FEED contract.Costain has seen a substantial increase of £1.5bn in its high-quality forward work position to £5.4bn (FY 23: £3.9bn) at the end of FY 24. This, together with growth on existing frameworks and attractive levels of bidding activity, gives the Group increasing confidence in its ability to deliver further growth in operating profits and margins.1 Market expectations for FY 24 adjusted operating profit is between £41.9m and £43.3m with market consensus for net cash of £160.0m. |
Yep no issues expanded order book |
There´s your Trading Update, and looks good. |
No profit warning here |
Can I suggest you and others write to Paul.sharma@costain.com. Paul is the Investor Relations Director responsible.I have already clearly expressed my views.Would be helpful for others today well. |
I fully agree DB. A 20% drop in one month, when we have been in a rising uptrend since June 22, deserves a response from the company. GFRD and KIE have both issued trading statements in recent weeks, and their share prices have faired far better than Costain’s.
I think Costain management forget that the shareholders own the company, and they deserve to be informed on the performance of the company at regular intervals, particularly when the share price falls dramatically, for no obvious reason.
Come on Costain…please improve the comms to your loyal shareholders. |
I'm a long term investor but I expect management to respond to 20% share price declines that are not part of a general market/industry decline. Looking after shareholders' interests is a part of getting a good rating versus your peer group. |
I contacted IR earlier in the week regarding a possible TS and they said the next scheduled information would be results in March. Not to say they won't change their mind... |
Sorry, I'll write that again.
Should have a statement soon following 20% price decline and a positive statement from Kier. Surely not going to keep shareholders waiting until full year announcement on 11th March. |
Renew Holding issued a warning and dropped 20% todayHowever, that was after it dropping 20% in the last couple of month - insider selling ?Do we have the same happening here ?I think it's incorrect to look at Net Cash - as they receive a lot of cash up front.Net current assets is better and is c£100mValues business at c£150m ?Free cash flow in H1 was £15m so full year c£30m ?5 x FCF - sounds about right for a Construction Co ? |
TT I'm like wise I believe the management,solid turnover,rising margin,plenty cash,pension funding sorted,rising dividends and respected business,there's just too many pluses |
Don't believe there is any reason for pulling back. Maybe, no news and waiting for results.Market makers trying to pick up cheap shares dropping prices. Causing others to sell fearing something going on. |
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