Galliford Try Share Discussion Threads

[gabsterx] 21/4/2019 18:29

Behind a pay wall.. can you paste the gist of the article here?

[newtothisgame3] 21/4/2019 14:51

#GFRD #Galliford needs to burn its bridges after share collapse

[marky60] 19/4/2019 07:39

Fully expecting more charges and a divi cut but don't think things are as bad as some are painting.Construction will be sorted imho.

[hairballradical] 18/4/2019 22:12

Isnt Prothero the one who advised Truscott on the positive half year performance? And isnt Prothero now in charge of his own mess?

[bookbroker] 18/4/2019 19:39

Don’t be melodramatic Eeza, multi-billion liabilities, you must be talking about Ferrovial or a giant multi-national, this company is not the one you are alluding too!!

[gabsterx] 18/4/2019 19:20

@nori If anything the company will be more profitable without the construction business weighing it down, which would mean an increased dividend. I see them cutting the dividend in 2019 then we should see a return to growth.

Now that Truscott is out after the wreaking havoc for 3 years on the company for the sake of revenue we can only hope that Prothero will be able to rebuild (no pun intended) around Galliford Try's strengths.

[eeza] 18/4/2019 19:16

Lol !!!

Agrea that Linden is attractive,but no-one in their right state of mind would want to take the toxic dross that is the Construction side with potential multi £bln liabilities.

[bookbroker] 18/4/2019 18:55

At these levels the company is vulnerable to another corporate taking a hard look, the house builder being the jewel!

[bookbroker] 18/4/2019 18:52

This is still doing pretty well overall, there are claims going on for AWPR and the Queensferry Crossing, both projects now finished, sounds like the bridge requiring a paint job, but open and likewise AWPR claims are being pursued over delays relating to Carillion collapse and the appalling weather during construction. GFRD set aside capital for liabilities, things may show that these might not necessarily be entirely required. This is still a strong company, but the market punishes disappointing news, that takes time to be corrected, hopefully the muttonheaded directors are finally waking up to that!

[essentialinvestor] 18/4/2019 14:37

Very fortunate they have Linden or we might be talking about potential survival.

[nori_wasabi] 18/4/2019 14:01

Allowing for another 15 m for re-structuring on top of 40 m (due to the Scottish bridge), the final dividend will be between 30 and 38 pence (vs 49 pence for 2018) . If the debt is kept well under control, reducing the construction business to a manageable size (by operating only in England) then GFRD should survive but the investors should forget the glorious days when dividend were 80 p+ and share price were £14 +

[demoan] 18/4/2019 14:00

Stop press! Alex Mcleish to advi Galliford, he says he can build Bridges and knows all about Scotland’s losses!

[spudders] 18/4/2019 13:35

I assume it’s not Lth’s selling out, must be shorters having a go ? I can’t blame anyone wanting to hold over the next few days if bought on credit.

[garycook] 18/4/2019 13:23

Finding it hard to understand who are selling their GFRD shares at this level seeing GFRD have not been this low since 02/03/2012 ! Whoever is selling now are selling at a big loss.

[eeza] 18/4/2019 12:45

From the inept management.

[demoan] 18/4/2019 12:16

The anger out there for GFRD is well deserved. At the last AGM Truscott, the chosen mouthpiece, became flustered when challenged on the liabilities the construction side faced and the meeting, carefully stage managed until then just petered out.
It seemed obvious there was more bad news on the way and the management wouldn't survive, which Truscott didn't, although not before delivering another rosy half yearly update.
In his parting remarks he calmly stated he enjoyed his time at GFRD, I am sure he did with the millions he was paid.
So whist shareholders/shorters are voting wth their feet, GFRD are holding a review, but have already stated that construction will shrink. Admitting failure a little too late perhaps?
Yet Blackrock and other large holders remain silent. Maybe it is because they are playing with our money and like the directors of GFRD seem more concerned with their own pay and bonuses.
The good ship GFRD founders as the review is awaited and presumably a clarification of losses.
Dont hold your breath!

[essentialinvestor] 18/4/2019 12:01

They are not making 2-3% margins on construction, it's nothing like that.

The risk is that any provisions are increased having looked at the
contracts in detail.

As mentioned some will take the risk and buy now, and others won't.

There are significant wage cost pressures in UK construction atm,
as many will be aware.

[garycook] 18/4/2019 11:52

podgyted,Toatlly agree !

[podgyted] 18/4/2019 11:37

Gary, you could be right .... the one thing for sure is that Linden Homes is worth a lot more than the MV of GRFD.

But I can't find anything saying these are the "final" cost over-runs. They have a huge committed order book. They said they'd tightened up several years ago and now they are talking about reviewing current as well as legacy contracts.

Some will take the risk some won't.

Why oh why do they think it's OK to bid for a 2-3% margin on building a bridge when they can get 20% for building a box.

[bookbroker] 18/4/2019 08:28

Providing they get these final payments relating to the legacy contracts sorted, agree that Linden is carrying the can for the construction side, but it should not have to be in that situation, management have to get a grip, they are being allowed to exploit the company because Linden is a strong part of the business!

[garycook] 18/4/2019 02:50

This could be the bargain of the year at these levels.Money to be made here.Talk of CLLN,and IRV,but GFRD have Linden Homes.So will survive no problem.Oversold all in the price now.So should be onwards and upwards,back to £7 plus.

[salver2] 17/4/2019 18:37

How’s your shorting of house builders going with your mate taffee- what a pair of losers you are - Porsche more like a lada for brains!!

[warranty] 17/4/2019 18:31

God Porche, don't you ever try to stop blaming everything bad on Brexit. You're like a broken record. Try making a point about GFRD otherwise don't bother at all.