Galliford Try Share Discussion Threads

[imastu pidgitaswell] 22/9/2022 16:01

It may not need it - but all the more reason why it should benefit shareholders significantly.

[riley109] 22/9/2022 10:00

With only 111m shares in issue does this really need a share buy back?.

[sphere25] 21/9/2022 08:52

Just taken a few. Abit slow at the off, should have had them at 160p. Interested to see if the market will bid this up to at least 170p on those numbers. Not asking for alot but that probably is asking for alot right now. The iceberg that got cleared at 160p is now sat at 162p. I'd exit under 158p keeping a close eye on it as this is a right lumpy illiquid one - gaps alot. The book looks reasonably well bid from 158p but clearly has to clear that iceberg seller. Normally I'd say there is enough in that report to be bullish enough to look for at least a 5-10% pop higher but this market just doesn't like to give much away. The macro clearly trumps all and we have to manoeuvre alot quicker. All imo DYOR

[imastu pidgitaswell] 21/9/2022 08:50

They're fine - good balance sheet. But: ..................................................2022........2021 ..................................................GBPm........GBPm Profit before income tax...........................5.4........11.4 Exceptional items............................... (13.7)....... - Pre-exceptional profit before income tax .........19.1........11.4 I think they're being a little naughty describing their ERP implementation as exceptional. It is a bit of a grey area - there is a reason they are not allowed to capitalise such costs... I would also (speaking from experience) caution that implementation of ERP systems can get very messy and very expensive compared with original plans. The acquisition exceptional is OK. There is also this: "As previously disclosed, the Group provided services in respect of three contracts with entities owned by a major infrastructure fund of a blue-chip listed company. Our work on these contracts formally ceased on their termination in August 2018. Costs were significantly impacted by client-driven scope changes and the Group has submitted claims and variations to the value of circa GBP95m in respect of these costs (2021: GBP95m). The Group has taken extensive legal advice on our entitlement, and we have been successful in two adjudications supporting the validity of the Group's position. The claim is progressing in line with the original expected timetable. Taking into account the requirements of IFRS 15, the Group had constrained the revenue recognised in prior periods to the extent that it was highly probable not to result in a significant reversal in the future. At 30 June 2022, the Group has updated its assessed recoverability in accordance with IFRS 15. Given the progress, in line with expectations during the year, this is unchanged." Now I only mention this as Costain, a business I follow had something similar running for a few years in respect of 2 contracts. Both were flagged with similar wording - legal advice, initial adjudication favourable, robust defence of our position, potential upside etc etc. When the final adjudication came, it resulted on both occasions in massively unfavourable outcomes - over £100m extra all told, despite no initial provisions being taken - wiping out the proceeds of a rights issue in 2020. That is all done now, but it still happened despite new management which was (sort of...) not involved in the original contract work. I would imagine it will weigh on the shares until resolved.

[our haven] 21/9/2022 08:05

Great final results. Dividend up, buy back announced, all a result of their great all round numbers.Very happy days. :-)

[masurenguy] 15/9/2022 09:23

Gervaise Williams, Diverse Income Trust on GFRD. "Very strong balance sheet in fact cash balances on the company balance sheet exceed it's market cap which is about £175m....with around a 4% yield." https://www.directorstalkinterviews.com/diverse-income-trust-gervais-williams-upbeat-about-the-potential-for-equity-income-strategies-video/4121082370

[govner] 08/8/2022 20:04

That makes sense, Thanks

[our haven] 08/8/2022 18:55

I think that you are looking at the interim dividend paid and not adding the final dividend.

[govner] 03/8/2022 09:06

The dividend yield on advfn suggests 2.77% however on LSE it's 0.708%. Can anyone please inform me why the difference? I have recently noticed a few shares showing different values on the two sites.

[our haven] 01/8/2022 07:26

Two great contract wins this morning totalling 56 million.Their sustainable strategy looks to be working.

[km18] 18/7/2022 15:00

Galliford Try (GFRD) issued a trading update for the year ended 30th June last week. The business has enjoyed continued strong performance across operations resulting in increased revenue, pre-exceptional profit and operating margin. PBT numbers are expected to be at the upper end of analyst expectations around £18m. The balance sheet is strong with £128m cash, the order book is healthy, the implementation of the Group’s Sustainable Growth Strategy is ongoing. The systems integrator and motor control centre manufacturer MCS Control Systems Limited was acquired on 11th July. Valuation messages are mixed, PE ratio looks expensive, PS ratio very attractive, the dividend yield is reasonable. Share price has been trading sideways for most of the past 12 months. Solid, but a share to monitor for now... ...from WealthOracle https://wealthoracle.co.uk/detailed-result-full/GFRD/499

[our haven] 14/7/2022 10:58

Good trading statement, no shocks, strong cash position and successful integration of the water business.Profit a little higher than expectations.All said and done, the management are delivering.

[waldron] 11/7/2022 09:23

PROACTIVE Jamie Ashcroft 07:52 Mon 11 Jul 2022 Galliford Try to boost water business with MCS Controls Systems acquisition “This acquisition is an excellent strategic fit with our enlarged water business," said chief executive Bill Hocking Galliford Try Holdings PLC - Galliford Try to boost water business with MCS Controls Systems acquisition Galliford Try Holdings PLC (LSE:GFRD) has agreed to acquire MCS Controls Systems to bolster its environmental and water business. The company detailed the acquisition - for which it is paying a nominal £1 fee – of Coventry-based MCS, which has 81 employees. It told investors in a stock market statement that MCS is “an excellent fit” and the deal is consistent with the firm’s sustainable growth strategy. MCS's capabilities are complementary to its expanding environment business and also complements the previously acquired NMCN and Lintott Control Systems businesses, it added. “I am delighted to welcome the employees, clients and suppliers of MCS to Galliford Try,” said Galliford chief executive Bill Hocking. “This acquisition is an excellent strategic fit with our enlarged water business, brings highly complementary capabilities into the group and advances our sustainable growth strategy." MCS generated some £10.1mln of revenue in 2020 (its most recent published financial results) to incur a £500,000 loss and at that time it had £2mln of net assets. In order to acquire the business for the nominal £1, Galliford is to fund certain contractual liabilities incurred prior to the completion date of the acquisition to strengthen MCS's balance sheet and provide additional operational stability.

[our haven] 23/6/2022 09:03

You would think that the winning of a place on the Midland Highway contract would see the price rise.Maybe it has not because they have already been on the contract since 2014 and it is already in the price.Shudder to think what would have happened if they had not been reappointed.

[buywell3] 28/4/2022 00:15

buywell was helped long ago by Mr Ashley James so here is a sector heads up This is what Mr Market thinks FTNMX501010 --- FTSE 350 Construction & Building Materials Technical Analysis Summary: STRONG SELL Moving Averages: STRONG SELL --------- Buy(2) Sell (10) Technical Indicators:STRONG SELL ----- Buy(0) Sell (10) Do you rampers really think you know more than Mr Market ? buywell lets it be a guide to decision making and suggests you do too Very very occasionaly does Mr Market make mistakes , and when it does it is usually on single small cap stocks --- this from many many years of watching and waiting. Mr Market does NOT make mistakes regarding FTSE100 or very BIG Cap listed companies dyor

[buywell3] 30/3/2022 00:02

Chart looks set for a drop to buywell dyor

[sharesoc] 21/3/2022 22:53

In case you missed our webinar with Galliford Try (GFRD), the recording can be found on our YouTube channel: hTTps://youtu.be/XW7p7tIkwSc

[buywell3] 20/3/2022 22:47

One can't but think that at some point this will join the rest To show no bias What happens in America and what is happening in America will result in what happens in the UK --- if you do your research you will corroborate this fact The number of USA houses that were for sale has just risen by over 13% in feb year on year ie Supply is now accelerating as the wise yanks want to cash in their brick piles USA house/condo sales have dropped year on year for the last consecutive 7 months in a row ie Demand is weakening Ref New Builds or Houses under construction in the USA --- unsold numbers are now at 2008 levels and up 70% year on year --- this coupled with massive increased costs due to raw building materials causing stalls in many new build projects Many USA builders could go bust if these remain unsold Supply of new builds grows as existing sales of old/ used houses stalls Inflation in the USA is now at 40 year highs The FED plans to do another 6 rate rises in 2022 The 30yr fixed mortgage rate stands at circa 4.4% now and is thus on track to hit 6% by the end of this year Inflation is not going away and the FED wants it at 2% --- next month it will likely hit 9% and still rising hTtps://patch.com/us/across-america/nearly-8-inflation-40-year-high-its-likely-going-higher The USA property market is now in top end bubble territory and soon to pop The UK property market follows the USA with a lag of 12 months dyor

[sharesoc] 19/2/2022 13:39

We are hosting a webinar with Galliford Try (GFRD) on 8 March 2022, which may be of interest to current shareholders or potential investors. Andrew Duxbury (Finance Director) will be presenting. You can register here: hTTps://www.sharesoc.org/events/sharesoc-webinar-with-galliford-try-gfrd8-march-2022/

[our haven] 09/2/2022 08:00

Good to see the highway's division winning the three contracts, a milestone for them.

[knowing] 07/2/2022 16:00

Https://www.constructionenquirer.com/2022/02/07/winners-named-for-1-8bn-north-west-framework/

[tole] 02/2/2022 19:02

https://masterinvestor.co.uk/equities/galliford-try-holdings-debt-free-and-increasingly-profitable/

[tole] 20/1/2022 20:07

Galliford turnaround not priced in, says LiberumThe market is failing to factor in a successful turnaround at Galliford Try (GFD), says Liberum.Analyst Joe Brent retained his 'buy' recommendation and target price of 270p on the construction company, which closed down 1.2%, or 2.1p, at 177p on Wednesday. The company published a first half 2022 trading statement that was in line with expectations and Brent said 'increasing material shortages and input costs continue to be managed'.He said the targets announced at the 2021 annual results suggest earnings of £36m in 2026, '169% ahead of our [2022 financial year] estimate'.'There is balance sheet strength with first half 2022 average net cash of £180,' he said.'And we maintain our full year 2022 average net cash estimate of £166m, which should be conservative.'The strong pipeline in the building division will contribute to margin progress and Brent said the market was 'attributing a negative value to the operations despite the successful turnaround'.

[woygnet] 19/1/2022 12:18

A good summary of the state of play....and also happy to hold.