Galliford Try Share Discussion Threads

[speedsgh] 21/3/2018 10:19

Balfour-Galliford JV probes pay-for-wage allegations -

Balfour Beatty and Galliford Try’s joint venture on the Aberdeen Western Peripheral Route (AWPR) has launched an investigation into claims staff on the problem project were charged up to £100 to receive their wages.

[speedsgh] 21/3/2018 10:18

Galliford Try handed huge boost by Blackrock -

Troubled construction firm Galliford Try has been handed a huge vote of confidence by the world's biggest fund manager.

Blackrock bought a £70m stake in the FTSE 250 firm last Friday, according to a regulatory filing released today, topping up its interest in the firm from 5.68 per cent to 14.13 per cent.

The move will be welcomed by Galliford Try, which saw its shares slide by a fifth in February after announcing plans for a £150m rights issue. The capital raise was primarily in response to the mammoth Aberdeen roads project it shared with doomed rival Carillion.

One of Carillion's biggest short sellers, hedge fund Marshall Wace, last week added to its near-one per cent bet against the construction firm.

Despite the February cash call, Galliford Try said it "continues to operate well within its financial covenants".

HSBC and Peel Hunt have already fully underwritten the rights issue...

[highlands] 20/3/2018 17:28

Indeed jimmy. Wonder what Blackrock know?

[jimmywilson612] 20/3/2018 16:38

Highlands - recent RNS confirms it was Blackrock - going from 4.89% to 12.70%

[highlands] 16/3/2018 18:47

Some massive trades went through at the end.

[ptgint] 16/3/2018 16:56

You probably missed Berkeley Homes view about limitations on expending the house building market which has caused a drag on most housebuilders

[careful] 16/3/2018 12:00

kier results looked ok.
yet their share price has fallen and dragged gfrd with it.
what did I miss?

[puffintickler] 15/3/2018 16:33

Ended up about break even on the day allowing for the ex divi, it was looking very positive for a while.

[elpirata] 15/3/2018 09:14

kier interims out this morning, marginal improvement from H2 2016 & 23p divi, plus

On course to deliver double-digit profit growth in 2018 and on track with Vision 2020 goals

[mattcookson] 15/3/2018 08:38

Yes the recent recovery has been good but it could still do with another 2-3 strong sessions like the ones over the last few days, as it’s stilo haeavily undevalued, this should really be close to £15. share price will do well over the coming weeks/months, as this a solid profitable business with great divi. I see this as a same play as EZJ, went from 800 to 1600 in just 4-5 months. You got to be patient with it.

[careful] 15/3/2018 08:07

ex divi 28p today.

[mayers] 15/3/2018 00:28

Highlands "I smell a lot of sour grapes"

A mixed metaphor I'm afraid. What DR_SMITH, if I understand him correctly, and I myself are wondering is whether lessons have been learnt concerning governmental and narrow margin involvements, despite the short term seemingly dramatic rise in share price I myself am more concerned for long term investment in a sound company such as I previously believed it to be.
The other issue is that governmental proposals to allow younger people to afford house purchase and rent at reasonable rates may land up making extravagant gains for land owners instead. This is not "sour grapes" but a concern for sound investment which will also address social issues, not merely making a quick profit.

[highlands] 14/3/2018 21:01

https://www.thetimes.co.uk/article/galliford-try-s-best-efforts-appear-to-be-paying-off-gxxxwjgllThat was yesterday's article referring to Monday's sharp rise.

[highlands] 14/3/2018 20:51

I smell a lot of sour grapes! :-)

[deb81e] 14/3/2018 17:46

Nice timing on buys Puff

[puffintickler] 14/3/2018 17:21

Well thanks to my purchase at 814p I am now back to break-even. It's nice to see I turned out to have a brain, as did valuehunter1:

puffintickler 14 Feb '18 - 11:48 - 4232 of 4370

... In any case at 800p a purchase is now a bit of a no-brainer for anyone.

eeza 14 Feb '18 - 11:59 - 4233 of 4370

You need to have 'no brain' to invest in GFRD at the moment. It's un-investible imo until the BOD can show that they have a proper grip on Costings & Estimations.

And the recurring annual 'exeptionals' prove that they haven't yet.

valuehunter1 14 Feb '18 - 12:04 - 4234 of 4370

eeza, well I'm buying some more at 800p, they still turned a decent profit and debt is well controlled too...

[mayers] 14/3/2018 16:07

DR_SMITH

I am inclined to agree with you. I had held GFRD for quite a number of years but sold in the descent after the Carillion debacle to protect in particular,investment made after the collapse of 2008 when GFRD share price was around 280p. Re-entry is always a difficult decision and I would naturally wish to know as far as one can, that Construction with its narrow margins is likely to be free of further problems. Your comments are I think, very pertinent.

I read that the Eastleigh Borough Council recently acquired the land, already with outline planning consent and would be interested to know, if anyone knows, how this came about. My limited understanding concerning Draft Local Plans is that Councils may propose preferred local sites for development but the purchase of the land, often agricultural land, is between the landowner and the developer at market rates. The Governmental Plan seems therefore to be a scheme in which landowners may be the main beneficiaries, particularly in which the element of affordable housing and rental is limited to a derisory 35%.
Forgive me if this latter issue appears tangential to the main thread but I suspect there may be many areas where these comments may be relevant.

[big7ime] 14/3/2018 14:05

It was way oversold so I don't think 28% bounce is too much. KIE figures tomorrow. May give another boost
KIE has the stronger management imo and I think figs are going to be better than many expect

[dr_smith] 14/3/2018 13:57

Thank-you again speedsgh.
Non subscribe version here:

Seems a hollow win and counter productive to me.
Use GFRD top line skills but other work implicitly going to competitors.
Shouldn't these top line folks be looking at construction strategy post CRLN and seeking projects with margin that justifies risk?
There is nothing in Galiford comment to elaborate on what if any benefit it is to the company other than a bland corporate speak "establish strong relationships".
Does GFRD not already have strong standing amongst councils/gov?
I see this as shooting themselves in the foot and indicative of weak negotiation, when we should be re-establishing equilibrium for fair margin on gov work.
Please shoot me down, as a LTH I went to be wrong on this.

[bluemango] 14/3/2018 13:30

Of course a near 28% rise from 830p to 1060p in the space of five working days is perfectly normal.

[speedsgh] 14/3/2018 13:21

Galliford Try lands project manager role on 1,400-house scheme -

Galliford Try Partnerships has been appointed as project manager on a new 1400-home development in Eastleigh on the south coast of England...

Council forms 1,400-home partnership in new development model -

Eastleigh Borough Council has appointed the developer as project manager for four years to develop the homes on land recently acquired by the council. Galliford Try will take on the master developer role for the council, providing planning services as well as acting as project manager...

[dr_smith] 14/3/2018 10:37

Ta speedsgh. £400m over 4 years, say £100m p.a. is less than 2% of GFRD t/o (less of cource partners share), so all good, but another 6% up today seems to be continued bounce from post CRLN shock wave...though still 30% down from where it would otherwise have been without Aberdeen tarmac. The increases are even better in terms of sentiment when you factor in the pending rights issue payment.

[speedsgh] 14/3/2018 08:50

Galliford Try Partnerships commences work on £400m scheme in East London -

[highlands] 14/3/2018 08:45

Back on the rise with some really chunky trades going through!

[tradingsun1] 13/3/2018 08:49

bouncing back nicely now - and L2 looking strong.

Just bought in yesterday after seeing the strong rise and re-checking fundamentals. I bought last after Brexit at £8 and sold (too early) at £12! Profits forecast for the year look very strong compared to market cap.