Share Name Share Symbol Market Type Share ISIN Share Description
Galliford Try LSE:GFRD London Ordinary Share GB00B3Y2J508 ORD 50P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +23.00p +2.63% 897.50p 897.00p 902.50p 907.50p 866.00p 874.00p 475,821 16:35:09
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 2,704.5 147.6 145.8 6.2 743.93

Galliford Try Share Discussion Threads

Showing 5376 to 5400 of 5400 messages
Chat Pages: 216  215  214  213  212  211  210  209  208  207  206  205  Older
DateSubjectAuthorDiscuss
25/2/2018
21:03
They give you 92p you give them 800/850 or whatever it turns out to be. I struggle with the arithmetic on that one.
marksp2011
25/2/2018
19:51
GFRD goes ex divi on 15/03 -28p divi. That combined with the final divi of 64p is a fantastic divi yield of over 10.5%. Great BUY in my book. Also, Galliford Try won £55m Midlands housing contract last week. Onwards and upwards!
mattcookson
25/2/2018
16:15
I don't have a problem with the capital raise. Surely it's best to bolster the balance sheet and be in a stronger position going forward. I believe management have learnt from their mistakes albeit not all of their own doing. It looks to me a new chapter starting for GFRD and I for one will remain bullish.
spudders
25/2/2018
14:23
What I think is irrelevant to what will happen. What is relevant is the willingness of the BOD to ensure that the contracts they bid for are realistically costed to ensure a good margin of error. Better no job than a job that loses money, and time which would otherwise be spent on making a profit elsewhere. Else it won't be long before they're back, cap in hand, "we got it wrong again, Dad". Loss-making contracts were the death of CLLN. BBY also had a torrid few years once they realised that most of the work they'd bid for, and won, was loss-making. They all bid against each other in a race to the abyss. 'I can lose more than you, so there'
eeza
25/2/2018
13:27
eeza Do you think after CLLN margins may improve? A bit more allowance for cost overruns should be in the bid. Learn from mistakes
careful
25/2/2018
12:32
M.R.D.A. When is an 'exceptional' not an 'exceptional'. I would say when it happens regularly - as in each year. Next year - another 'exceptional', if not more, added to the 'legacy' pile. Wafer thin margin - what could possibly go wrong.
eeza
25/2/2018
11:52
This rights issue seems a sensible move. CLLN collapse put extra demands on GFRD cash requirements to complete the troubled contract,and eventually smaller impact to profits. The CEO said it was not really necessary but the £150m would give them the balance sheet strength to pursue good opportunities. M.R.D.A. as legal people say. (Mandy Rice Davies applies)..'he would say that wouldn't he'. Not this time, this is not Lord Astor and the 1960's. The balance sheet will look strong after this cash injection and I believe the CEO. Saw the CCLN executives being questioned by MP'S. they looked so inept it was frightening. Confidence will be restored, no pension deficit at GFRD either.
careful
25/2/2018
10:59
Well the cost of your shares would be £24k. The value depends on the share price Not everyone will have spare funds to take up their 'rights' and some will have the cash but still not be able to take up their rights if in an ISA which is already fully subscribed for the year. May need to compromise with 'tail-swallow'. Management is not doing this as a favour to s/hlders it is to rescue the Co from the BOD's negligence in taking on loss-making contracts..
eeza
25/2/2018
09:41
Ignoring sentiment, I was just saying; If you have £20k of GFRD shares pre rights, then buy (say) £4k of discounted rights shares, then your total holding will be worth £24k. The company will be worth £150m more, the cash raised. It does not matter what the rights price will be and how many shares you now have, the value of them will be £24k. This ignores the ups and downs of the market, traders and shorters often get involved in these situations to drive the share price down.
careful
25/2/2018
05:45
Careful And another thing issues in companies like this are always unpopular In plain English GFRD are saying In the last 4 years we have given you 299 in dividends Can you now give us back that money because we overstated our profits by not taking adequate provisions and we don't have enough money left to be able to invest in the business. Not much of a sales pitch really is it?
marksp2011
25/2/2018
05:34
Careful Sorry I don't follow your logic It is true you still have the same proportion but, the proportion has been discounted twice. What you usually see is a drop when the rights is abnnounced followed by another drop when the terms are announced as they have been based on a trailing price calculation. The Sp has dropped for 1200 to 900 taking up a 1:10 at 8.50 and assuming you held 2k shares Buying another 10% at 8.5 Original value = £24k New value = 19.8k assuming you take up your full offering The market value for the holding in GFRD was 24k and it is now 19.7k The company chose not to announce the pricing for the offer and so attracted the sell off. Does the size of the discount make a difference? No in terms of the proportions. very much so in terms of the share price as the share price tends to move towards the rights price reducing the value of the primary holding. If the rights is at close to market...I agree it makes no difference. In this case, noone thinks this is a zero discount offering so the incumbents lose value
marksp2011
25/2/2018
03:38
So a 5 for 1 Rights at £9 then ? 16.67 Mill new shares.There must be a discount to the current SP,or what is the point of taking up the Rights when a few weeks ago,you could have picked up GFRD under 800p.20 Million new shares at 750p sounds more like it.Maybe 18.75 Mill at £8.
garycook
24/2/2018
10:54
Amount of discount makes no difference at all provided you take up your rights. 150m new shares @ £1 or 30m @ £5, it makes no difference. the market value of your holding remains unchanged. The ex. rights price per share is a simple calculation. Even if you sell your rights it makes no difference, although sometimes the share price is massaged temporarily down to enable institutions to buy them cheaply.
careful
24/2/2018
10:39
I hope not.this price is already discounted a fair way from the price on the day the fund raising was announced
marksp2011
24/2/2018
03:43
Wanted to buy more anyway.Rights hopefully will be at a nice discount to the current share price
garycook
23/2/2018
15:35
Thank-you careful.
dr_smith
23/2/2018
15:18
no dates no details yet. seems like we will have to pay about 20% of our existing holding.
careful
23/2/2018
14:32
Cheers careful - mine not yet showing - any mention of dates?
dr_smith
23/2/2018
13:49
So it is to be a normal rights issue after all. Just received notice from my bank. Details to be announced, but additional rights cannot be purchased nil paid in the market, but you can sell your allocation. Why did they not call it a rights issue in the original announcement?
careful
23/2/2018
11:53
In other news, though: hxxps://www.cornwalllive.com/news/cornwall-news/brand-new-200k-house-mouldy-1242548 Could 'quality control' be a problem?
dlp6666
23/2/2018
11:30
Cheers speedsgh. No rns...but don't know rules. £55m is say 2% of t/o as rule of thumb. >Of the 375 houses to be built, up to 40 per cent will be affordable. I envisage they will all be affordable! ;-)
dr_smith
23/2/2018
10:16
Galliford Try wins £55m Midlands housing contract - HTTPS://www.constructionnews.co.uk/companies/contractors/galliford-try/galliford-try-wins-55m-midlands-housing-contract/10028360.article Galliford Try Partnerships has won a £55m contract with a Solihull housing group to construct 375 homes. The contractor’s regeneration arm, which works with housing associations and local authorities, beat three other bidders to the contract with Waterloo Housing Group. Galliford Try Partnerships will act as development partner on the scheme in Leamington Spa, handling design, planning and construction. Of the 375 houses to be built, up to 40 per cent will be affordable. The West Midlands job is the division’s second big win of the year following its appointment on a £155m regeneration scheme in west London linked to Queens Park Rangers football club. In its financial report for the six months to 31 December Galliford Try’s Partnerships arm posted the highest growth of its businesses, with revenue jumping 55 per cent to £223.5m, partly driven by its purchase of Drew Smith in May of last year. The division’s operating margin stood at 4.8 per cent.
speedsgh
20/2/2018
22:21
Puff If it was working capital to meet a contract that is claimed to end mid-2018.......I wouldn't have expected them to come to the market for it when they have plenty of headway in borrowing. Companies don't usually cover a shortfall for a few months by going for a placing/RI On the basis that CLLN weren't paying their bills, £25M write-off is probably understandable.......but, another £80M seems like a lot to me....... another 25 maybe for the GFRD share i will write to the company and see if they have managed to get the fork out of their collective tongues :)
marksp2011
20/2/2018
10:27
marksp2011 "The second question for me is why £89M needs £170M to fund it....... I have lost faith in the Company announcements." The answer here is surely that not only to GFRD need to take their share of CRLN losses on the contract but they will need a whole load of extra cash to cover their share of the working capital associated with the CRLN share of the contract.
puffintickler
20/2/2018
09:50
Hi Mark, All valid points and does show why investment isn't black and white, but an art. Everyone I think will agree the fundamentals are good here at this price, so the issue does come down to management. In my opinion, Galliford has signed up to contracts when the market was a very different place to it was now. They tried to save face/share price years ago which now has kicked the can down the road and destroying value now. I think its best to raise more than they anticipate they need. It would be unwise to go cap in hand to the market for a 2nd time for example if costs continue to overrun. It's good to cut the dividend when it needs to be cut. I would be more concerned if they didn't, and simply buried the head in the sand like they did before. Take the pain now, get it out in the open, and move on. The risks are clear, the rewards are clear. I think at this price - the risk/reward ratio is in my favour but will keep a close eye on this.
jimmywilson612
Chat Pages: 216  215  214  213  212  211  210  209  208  207  206  205  Older
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