Share Name Share Symbol Market Type Share ISIN Share Description
Costain Group Plc LSE:COST London Ordinary Share GB00B64NSP76 ORD 50P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 175.00 175.00 176.80 0.00 0.00 - 0.00 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 1,463.7 40.2 30.9 5.7 189

Costain Share Discussion Threads

Showing 6526 to 6547 of 6950 messages
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moving up again, looking for this to hit 360 and stay there before half year results on 24th August
solid update today
Nailed on to hit targets now. Thanks to the fund manglers for profits here. Feel free to give it the large in Mayfair whilst knowing deep down, you're just a bunch of silly city muppets ;-) VTU and PHTM next if manglers wish to make some money.
Institutional fund manglers now reversing the algos. Chart looking very good now.
record order book/nice dividend is the reason I bought here.
Have Henderson provided a nice buying opportunity here then I wonder. Looks like they have sold 4.3m shares recently according to Alliance News. Stock is trading well off its high. Fundamentally sound company with about a 4% yield here and a record order book to boast. Got some buyers in size down here too so I'm happily accumulating. Once this breaks 330, expecting it to trend up back toward testing that 350-360 level.
Wondered if Henderson's selling-as per yesterday's RNS- was a reason for the price weakness but they did not figure in the annual report as an important shareholder as of 19.2.16 and only went above 5% as of april there must be another reason.
bought today, great price to purchase IMHO
Any thoughts on the cooling system for Hinkley B. Funding for this project is now in doubt as EDF are in a mess. Never seemed a good idea to have companies that are basically owned by another countries government funding our power and said company requiring a bailout from the French government. Will probably get funding from the EU! Like the look of Costain but this is a big issue which could cause problems.
Hello to the many many participants on this board! So, whilst the share price seems to be moving in mysterious ways I have been looking further into yesterday’s figures (sp down from 362 at 1pm to 352 at 2pm and virtually back to 362 at 4 pm!) Looking at yesterday’s results and analysts’ presentation there doesn’t seem to be too much to add to yesterday’s comments. Looking forward it will now be a case of waiting till August for the half-year figures. My hopes on these are that they will be very positive when compared with the first half of 2015. The rational is as follows (which is very much as per my previous post). Infrastructure Based on the size of the order book I would hope for revenue of the order of £600m+ and therefore Operating profits of £30m+ The OP profit for the first half of 2015 was £23.5 and for the full year was £51m Natural Resources Very much uncertain due to the Manchester contract. The Operating loss for the last full year was £10m. I would very much hope that the current half year will be a lot better than a loss of £5m. We should start to see the profit contribution from Rhead and one would hope that Manchester will not give rise to additional material losses. Central Costs & Alcaidesa I would expect these to be of the order of last year at around -£3m. So, subject to all of the above the Underlying Operating Profit as Costain calls it could be around say £25+m. This compares with £13.1m for H1 2015 and £33.2m for the full year. Will this sort of performance be achieved? And if so how will the market rate Cost (with the end of the Manchester contract in sight)??? We will see in due course! Best wishes
Hi Roger Yes - these results look pretty good allowing for the continued impact of the Manchester contract. Is there more pain to come on that this year or have they fully (even over?) provided on that? We will only see in due course but as we have said, it comes to an end this year in any event. I would then hope that they would be targeting break even or better from the Natural Resources plus a significant (£5m?) profits contribution from Rhead. For Infrastructure we might be looking at profits growth to £60+m for 2016 given the size of the order book as compared with its size last year which generated the £50+m profit for 2015. The half year figures will be very interesting!!! I will delve down into the figures & info a bit more - and we can see if the whizzo analysts come out with any info from their briefing this morning. I really think that there is very significant upside here with an adequate dividend whilst things hopefully progress. Be back later!!! Best wishes
JJHBev results out today, just as you called it. It is no secret that fixed price contracts have always been a big risk in construction given the very low margins so the key to unlocking value in this share has always been about removing risk and improving operating margins. The latest results show good progress in this area after allowance for the Manchester PFI contract which is close to being resolved.
Even excluding any exceptional work I think that Cost has been making very significant progress in the Infrastructure Division with (I hope) that progress not yet being reflected in the share price The full year figures will be out in approx 5 weeks time & IMO there will be two key elements that will drive the bottom line :- The growth in Infrastructure performance. I am not sure that the market has taken on board the pace of this revenue growth which has been - H1 2014-15 £359m H2 2014-15 £417m H1 2015-16 £475m H2 2015-16 £??? It is worth noting that the Infrastructure order book at the start of H1 2015-16 was £2.3bn whereas at the start of the current half it had grown to £2.7bn. If the billings to order book ratio is maintained then revenue could be of the order of £550m. The margin being achieved is approx 5% which, if sustained, could generate operating profits of £27.5m as compared with £23.5m in H1. The second key item is the drag from the Natural Resources division and in particular the accursed Manchester legacy contract! As shown in the Analyst Presentation of the H1 figures these generated a loss of £7.5m in H1. Will this be reduced for H2??? At least the liabilities re Manchester come to an end in H2 this year. Performance in Natural Resources will be tough with what is happening in the North Sea but if they can get this side back to break even (after the Manchester contract has run off) then we can see that the Infrastructure side is capable of generating operating profits of £55m pa (as compared with the overall operating profit of £13m recorded for H1 this year). There will still be Central Costs of something like £6m pa but Rhead should be adding profits of close to that figure. My own view is that Natural resources will continue to be a sizeable drag this year but that by 2017 that should no longer be the case. The Infrastructure Division appears to be continuing to grow – the order book was £2.7bn at the start of H2 and the latest trading update implies an order book of £2.9bn (assuming no change in the size of the Natural Resources order book). The performance of RNWH – both the company and its share price – shows how the market can rate a successful infrastructure business. (I hold shares in both RNWH and Cost) Best wishes
Thanks Cerrito, depriving Peter to Pay Paul, that fits.
To be honest mayers had not made the connection and there may be down the line more business but you have to ask yourself if they will cut the investment budget of another activity in which COST is active to fund the investment they will no doubt make on flood defences.
Not much activity on this board but wondered if holders had views on potential contracts following the unfortunate north country floodings. Must confess to some unease in benefiting from others@ misfortunes but support for good companies is presumably what they need.
Calculate that the 2 contracts will have between them about £70m of sales pa over next five years..good but not a company changer given first half sales of £620m
Jamjose I believe the reason (excuse?) was that, having undertaken a rights issue, the number of shares was increased. The absolute amount paid out by the company as dividends was sustained but, because of the capital increase, the dividend per share reduced. It now looks as though this year's dividend per share will be back to the level of 2013 - which was 11p v last year's 9.75p. The half year divi was 3.75p, i.e. the same as 2013 and up from last year's 3.25p. Given the strength of the performance in the infrastructure division and the size of its order book at the half year I would expect pretty good results & divi for the full year. When the wretched Manchester contract liabilities finish at the end of next year things could/should show a further marked improvement. I hope!
Am following these but don`t have shares at moment....can anyone advise why the dividend was reduced last year,please.
Looking perky in this otherwise poor market for similar companies.
Over 90% of order book comprises repeat orders and over 90% lower risk target cost, cost reimbursable forms of contract
It would be interesting to see how many contracts are cost plus instead of fixed, meaning little risk of losses in contracts fr cost overruns.
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