Galliford Try Share Discussion Threads

[dr_smith] 05/12/2018 12:37

podgyted. Yes, the contrast of 5 to 9% up of other builders to 0.5% is astonishing.
GFRD are in ICB sector "Construction & materials" not "Household goods" like the rest.
Could it be that the bots are following a simple top down process favouring Household goods.

Maybe with GFRD div paid today, their folio is top heavy with GFRD...naah that can't be it.

[podgyted] 05/12/2018 12:15

House builders rising significantly today - Galliford left behind. Sometimes I think the market forgets there's a house builder in there.

[marksp2011] 05/12/2018 08:57

Mr Matheson explained why it is not currently possible to provide an opening date for the Craibstone to Stonehaven and Charleston section:

“Earlier this week, I spoke with Peter Truscott, chief executive of Galliford Try to receive an update on the progress they were making in discussing this variation with their lenders. Despite assurances that they were doing everything possible to open the road at the earliest opportunity, as well as a clear indication from Mr Truscott that they were making the necessary changes to the AWPR contract to open the 31.5km section, I was then disappointed to receive a letter from him which contradicted our discussion.

So the road isn't opening because of commercial disputes not the technicals.

The River Don piece is the only bit stopping this from opening on building works grounds. Subject to weather, that could be finished this month at which point the costs stop and it just a case of how much the consortium can extract from the Scottish Govt

[cascudi] 05/12/2018 08:52

Can someone remind why share price collapse so much? Is it due to Kier? Or Brexit?

[careful] 04/12/2018 15:32

amazing how it can fall 4% on such light volume.
no real selling.

[dr_smith] 04/12/2018 13:33

EI. IIRC GFRD has 3 divisons specifically to ride storms and cycles and bounce off each other.
If you wind down a business (side), it likely takes more to bounce back in good times, particurlaly staff/work-force. I feel, but don't know, they cut their own throats at the negotiating table, probably often taking the view they are OK with near zero profit, if it helps pay fixed costs. A consequence of being a big company.

The answer no doublt lies in the middle.

Now the under-cutting CLLN is out of the way, GFRD now applying a more stringent policy and gov/other players acknowledging each parties need for margin to survive, hopefully the future is better.

[essentialinvestor] 04/12/2018 12:30

Good to hear it's paid off in some cases.
I'm watching TW. atm, however think we are past peak cycle for the sector.
Would expect some sharp counter moves though along the way.

[careful] 04/12/2018 12:27

I have had mixed results being a contrarian.
From the good old days I have framed 3 share certificates from Woolworths, Northern Rock, and Eurotunnel.
They hang on the wall and remind me that I am not so smart.
But I bought TW. at 4p, and chickened out at 9p. They would have been a multi bagger.
Sometimes it works, bought RR. at 81p a few years ago. Sold at £1.60p. They went on to almost £13.

[essentialinvestor] 04/12/2018 12:14

careful, being contrarian is fine, provided you are not buying value traps.
I would be very careful of this sector, and as mentioned previously why GFRD
did not wind down their construction business is beyond me. Profitable house building side to focus on.

[montycat11] 04/12/2018 11:54

Next stop £5...

[deb81e] 04/12/2018 10:24

I've also topped up @ 6.91

[careful] 04/12/2018 09:32

bought in to kie this morning and topped up here.
stupid (I know) to buck the trend.
all those wise words that emerged from the crash of 1929.
'never chase then down', 'the trend is you friend'.

I understand but rarely take that advice.
by nature a contrarian.

[eriktherock] 03/12/2018 17:14

Kier Rights Issue the major drag here.

[kenmitch] 03/12/2018 17:11

bor491.

Surprised you didn't understand very basic dividend must know before posting that!

The dividend is taken out of the share price on the day the share goes ex dividend. ex dividend date is almost always a Thursday. The ex dividend date (and the day it is paid) is usually announced with the results.

Anyone buying the share on ex dividend day (and subsequent days) does NOT get the next dividend.

Anyone holding the share on ex dividend day DOES get the next dividend, even if they sell the share on ex dividend day or subsequent days.

The dividend is always taken out of the share price on ex dividend day.

The share might not fall by the full dividend amount... e.g if the lower share price attracts buyers. OR the share price could fall by more than the dividend amount if there are more sellers than buyers.

Aside from this...just wish the share price would stop falling. If the falls continue to be worse than other housebuilders then it's either bad news leaking or GFRD being punished more because of the further problems with the construction business. The sooner they are a housebuilder pure and simple the better!

[careful] 03/12/2018 16:30

we could do with closure on the Aberdeen bye pass.
What a mess, GFRD are making claims on that one that could help.
We need some information.
A dramatic collapse since the rights issue.
At the time of the rights issue it was claimed that the money raised was not that urgent, but needed to cover the CLLN debacle.

This bye pass seems to drag on and on.

[waspfactory] 03/12/2018 16:05

It's getting silly! A 20% drop in 4 weeks!!

[pulsey] 03/12/2018 16:03

Box491 the share price drops when it goes ex dividend (already happened).Share price will not be affected this week when dividend is avtually paid. If anything, some investors reinvest dividends so there might be a marginal improvement. Not that we will notice it amongst the steady fall.

[bor491] 03/12/2018 15:51

'49p dividend paid this week helps a bit!'

doesn't help one bit - as soon as dividend is paid this is deducted from the share price value. If anything it makes matters worse as you have to pay taxes on your dividend - all this while the stock price is falling.

[kenmitch] 03/12/2018 14:04

Exactly. It’s not specific to Galliford. Housebuilders look way oversold with dividends next year as high as 13%. But shares often overshoot in both directions so the sector might not have hit bottom yet.

Just as mining sector has had big bounce today,so will housebuilders on any better Brexit news. Sector seems to be pricing in a no deal Brexit so if that is avoided a big bounce is likely. Of course Galliford still has the legacy construction business, and further cost overruns,a negative the other builders haven’t got. I’ll continue to hold GFRD unless there is a negative update.

49p dividend paid this week helps a bit!

[careful] 03/12/2018 13:39

I notice the volumes are low as we fall ever lower.
All builders and construction are suffering.
Is anyone worried here.
Anyone tempted to buy.
..blood on the streets.

[careful] 03/12/2018 13:08

Kier and CLLN and known troubles at GFRD.
Sentiment never seemed lower, but the last annual report was excellent.
An historic PE of below 6 and a high yield.
All meaningless.
We can't seem to find a bottom.
If things were ok there should be some insider buying.
No one dare touch it.

[cwa1] 03/12/2018 09:14

The City of Edinburgh Council is set to agree a deal with contractors following the the closure of 17 schools in 2016.

The proposed deal with the Edinburgh Schools Partnership (ESP) consortium of Amey and Miller Construction (now part of Galliford Try) will be rubber-stamped this week.

It will see ESP pay for all structural and defect rectification works and introduce a new independent inspection and monitoring regime throughout the whole estate built under the PPP regime.

The council said: “The proposed settlement sums exceed the associated closure-related costs incurred by the Council.

“Money from the settlement will be used to carry out any further remedial works identified on buildings across the whole Council estate including schools.”

Council leader Adam McVey added: “This has been a lengthy and complex process but I’m pleased that we’ve been able to reach an agreement with ESP.

“This settlement provides significant benefits to our schools and local communities and crucially means the works carried out on the PPP1 schools came at no cost to the Council.

“There will now be additional inspections on the PPP1 buildings and increased opening hours for those facilities.

“Reaching this agreement also means we can avoid potential lengthy and costly legal proceedings for both parties and return to our focus of providing world-class facilities for our young people.”

[montycat11] 30/11/2018 23:48

Im still catching the falling knife..long termer..cheap as chips..

[montycat11] 30/11/2018 23:46

Crushed... understatement..over sold..prime target

[eeza] 30/11/2018 17:57

And AWB still not signed off yet. A few million more, yet, to go into Truscott's 'legacy' bin.