Galliford Try Share Discussion Threads

[eeza] 14/2/2018 07:59

"If it is because the £3.5bn construction order book was won at loss making prices it is not so good."


Exactly the problem.

[marksp2011] 14/2/2018 07:52

If you read the announcement

The £150M is to throw away at Aberdeen. GFRD couldn't afford to close out its legacy contracts and fund the continuing business

GFRD will be raising £150M at terms yet to be announced so there is going to be a rights issue for us to fund Carillion

By all sense we should get a 15-20% drop when tied to the divi cut but who knows in this market

[spob] 14/2/2018 07:50

£1.80

[careful] 14/2/2018 07:49

If this £150m is to strengthen the balance sheet then that could be a good thing going forward.
Opportunities must be plentiful for a strong company going forward in this sector.

If it is because the £3.5bn construction order book was won at loss making prices it is not so good.
They claim the order book is high quality.
Let us hope they can deliver on time and on budget.
CLLN must help to concentrated the mind.

Share price has already collapsed from a recent peak of £18 to yesterdays £10.(44%).
Is it all in the price?

[garycook] 14/2/2018 07:42

Perhaps the Capital Raising will only be offered to the biggest shareholders ? I work out that £150M,only works out at £1.80 per share.If I have got this correct.There are 83.21M shares in issue atm ?

[shanklin] 14/2/2018 07:34

Strange they haven't used the word "rights".

[garycook] 14/2/2018 07:32

Galliford Try plc

Fully Underwritten GBP150 million Capital Raising

Galliford Try plc ("Galliford Try" or "the Group") today announces that it proposes to raise GBP150m of new equity capital (the "Capital Raising") from its shareholders in the coming weeks and is also providing an update on Galliford Try's dividend policy.

[riskvsreward] 14/2/2018 07:31

why bother paying a dividend if raising capital at the same time. Isn't it take from one hand and give to the other hand?

[shanklin] 14/2/2018 07:25

Where do they say its a rights issue?

[careful] 14/2/2018 07:17

£150m rights issue.
Just over 20% of current holding at yesterdays price.

Results seemed good apart from exceptional.
Pension deficit almost nothing.

Probably sensible to raise cash.

[careful] 13/2/2018 16:11

Tomorrow morning we shall have some results and guidance.

[eeza] 13/2/2018 12:22

You would have to say, looking at the share price action over the last few days, that bad news is on its way.

How many more contracts that they have 'won' are loss-making.


SP has lost 25% in 6 weeks since Jan 2nd.

[gabble ratchet] 13/2/2018 11:36

Let's hope so ken, pretty depressing looking at the share price at the moment.

[ken298] 13/2/2018 11:30

Any bets on size of dividend increase tomorrow 6-8 p ?

[eeza] 12/2/2018 10:59

Yeah but


Just add it to the 'Legacy' pile.

Voila !!

[speedsgh] 12/2/2018 10:38

Chesil Lodge completion date unclear -

THE completion date of a major Hampshire housing scheme for older people is still unclear following delays due to design problems.

The Chesil Lodge development in Winchester, which includes 52 flats for over-55s, was initially set to be finished in November last year before it was pushed back to this month.

But a Winchester City Council spokesman confirmed that the official opening date for the centre, which is being built on Chesil Street, has still not been set.

The city council states that the contractor, Galliford Try, has “encountered a number of design challenges which has resulted in a longer build than originally anticipated,” but that the cost of the delay falls to them and not the council...

... “The overall quality of the development is excellent and I am reassured by the care and diligence being taken by Galliford Try and the council’s New Homes team to ensure that quality of the construction is not compromised.”...

... When asked whether Galliford Try were being ‘fined’ £15,000 a week due to the delay, a spokeswoman said: “The construction contract between Galliford Try and Winchester City Council sets out the position regarding delays to the completion date caused by either party. The council will seek liquidated and ascertained damages, as provided for in the contract, for any delays for which we consider Galliford Try is responsible.” LADs are based on the loss of income to WCC caused by the delay (rents and sales).”

Following an FOI request by the Echo requesting a figure, a spokesman said: “The LADS that we expect to impose are calculated on a formula based on a multiple of the loss of income in rents and sales from the project. We do not yet know how much the figure is likely to be as the LADs will not be calculated until a period after the practical completion of the project.”

[eeza] 09/2/2018 20:58

"Wednesday 14 February
US inflation concerns are behind this stockmarket crash, so numbers out midweek could move markets.
Watch for core inflation – excluding volatile food and energy prices – up 0.2% month-on-month and an annual rate of 1.8%. Any surprise here could cause further havoc in global financial markets.
Before all the excitement, housebuilder Galliford Try (GFRD) steps up with half-year results.
Galliford currently offers a well-covered sector-leading forward yield of more than 8%, and it is the cheapest housebuilder around.
Analysts like the shares, but they have fallen sharply in the past month. Barclays slaps a price target of 1,184p on the shares, and analysts at Peel Hunt are even more aggressive, backing Galliford up to 1,620p.
"We continue to think the UK market for new housing is well set and that Galliford's business mix in this area is attractive," says analyst Clyde Lewis.
Sales are expected to reach £2.8 billion in the year to June, and adjusted pre-tax profit £173 million, from £151 million a year ago."


[...]
Lol !!!! ADVFN police editing out the link - competitor
Pathetic

[marksp2011] 09/2/2018 20:24

All seems to be going Ok just out of favour at the moment

[speedsgh] 09/2/2018 08:14

Morrison Construction appointed to £250m University of Strathclyde framework -

Galliford Try’s Scottish building business Morrison Construction has been announced as a primary contractor on the £250m University of Strathclyde major building works framework.

The framework is for the duration four years, with an initial two-year term plus the potential of two, one-year extensions, at the discretion of the client.

Morrison Construction will be one of four primary contractors able to tender for all major building works likely to range between £4m to £50m in value to develop the estate and facilities of the University of Strathclyde.

Renfrewshire Council and Renfrewshire Leisure Ltd can also use the framework to tender for major building works.

Eddie Robertson, Morrison Construction Managing Director for Building Central, said:

‘‘We are delighted to be appointed to this framework. Membership of major frameworks is a key part of our strategy for our construction business.

‘‘We look forward to working with our new partners at University of Strathclyde, to support its capital investment programme.

‘‘At Morrison Construction we have a proud history of developing successful long-term partnerships and delivering high-quality facilities.’’

[nori_wasabi] 08/2/2018 09:49

What is the problem ? GT is in strong financial health and is undervalued (hxxp://quotes.morningstar.com/stock/analysis-report?t=XLON:GFRD&region=gbr&culture=en-US&productcode=MLE&cur=)

with final salary pension deficit of £3.2 mil, manageable average net debt of ~ £250 mil, a revenue between £2.6B to 2.9B . Even taking into account of Carillion saga (where they will take a hit of £40 mil (worst case), I reckon their profit before tax will be in the region of £100 mil to £120 million for FY 17/18)and has yield of %8+ . Buy if you have spare cash

[eeza] 06/2/2018 19:30

You'll find out on the 14th Feb.

[volvo] 06/2/2018 19:16

...would like to invest here...but is there a smell!

[dr_smith] 05/2/2018 13:01

Cheers speedsgh.
£240.4 for 1 month implies £2,885m for year. Bang inline with expectations (taking average of 2018 and 2019 to allow for June year end).

[speedsgh] 05/2/2018 11:21

Kier tops January 2018 contracts league -

... Galliford Try claimed second place on the BCLive league table with 10 individual new contract awards with a combined value of £240.4m – less than half Kier's winning total. The largest of Galliford Try's new contracts a £180m job is for the construction of 611 apartments for Genesis Housing Group in London...