Galliford Try Share Discussion Threads

[knowing] 01/4/2021 13:30

Certainly is a piece of positive news.

[our haven] 01/4/2021 07:20

Good news this morning on the renewal of the Scottish Water contract.

[knowing] 18/3/2021 20:14

Think just down to people taking profits after the news.

[claymagnet] 18/3/2021 19:57

Any speculation on the recent drop? Thanks all.

[our haven] 05/3/2021 14:23

Could not agree more ansc. Bit of patience goes a long way.

[ansc] 05/3/2021 14:11

The share price has doubled in five months!

[careful] 04/3/2021 15:54

dissapointig.

[imastu pidgitaswell] 04/3/2021 12:31

Yes, I'm wrong, you're right, see that from the results - 111m shares per note 21.

Numbers broadly similar, but bearing in mind margin they quote is pre central costs. Also tax rate will be 25% in future from 2023. But major difference is number of shares.

I might see PAT nearer to £1.4bn @ 2% post central costs = £28m PBT, £21m PAT. But not a big difference. £210-£300m market cap versus current £155m. With the cash (real value is enterprise value = market cap less cash), it's a decent difference.

One of several possibilities in the sector - I have to say I prefer COST, but that's just me.

[shandypants2] 04/3/2021 11:19

ADVFN market cap is wrong - there are c111m share in issue so current market cap is 'only' c£150m.

Updated guidance appears to expect rev in lower range so c£1.2bn and profit margin nearer 1.5% so c£18m for YE.

Aspiration to get profit margin closer to 2.5%. If in 2022 rev is £1.5bn that would equate to £37.5m PBT c £30m PAT.

Using a conservative forward PE of 10 that values GFRD at c£300m or 270p per share. Clearly this is a best chase estimate but shows there is a decent upside from the current level.
Even a £200m valuation is c180p per share, almost 30% above the current level

[imastu pidgitaswell] 04/3/2021 09:20

From the strategy section, and this isn't new - target revenue of £1.5bn, 2% margin (after central costs) suggests £30m PBT, or c£22-23m profit after tax.

That's assuming the best case for both revenue and margin - currently they are both lower.

Market cap £310m.

It's not that compelling, regardless of how safe and cash rich it is?

[p winky] 04/3/2021 09:14

Might be some relation to ftse drop today.

[bugle4] 04/3/2021 07:50

I think so too.

Can we assume a 2.4/2.5p final in 6 months?

Giving a total for the year of 3.5/3.7p

[jimbomorry] 04/3/2021 07:31

Very positive results. Profitable and a divi too. Strong order book.

[bugle4] 04/3/2021 07:31

1.2p interim.

[our haven] 03/3/2021 12:29

It is certainly on the rise ahead of results day tomorrow, hopefully a very good sign

[shandypants2] 03/3/2021 11:32

results tomorrow, the 4th.

Expecting an interim profit and dividend restart, as this has already been stated. Forward looking statement will also be positive.
Finally, it is possible that a special divi could also be announced IMHO. Lots of cash on books, less is required now we are no longer a house builder

[oapknob1] 27/2/2021 23:11

Getting close to results RNS. Order book going forward plus end of month cash. Add in the possibility of dividend payment resumption and there's a fair positive outlook.

[bridggar] 22/2/2021 19:39

For this year.

[ansc] 22/2/2021 17:31

Slowly, slowly. A reminder that last year's Interim figures published on 12th March.

[bugle4] 18/2/2021 06:23

I am confident here but let's not forget that whilst there is more cash that market value, book value is only around £1.10 per share.

It's still a bargain at only 30 to 40p per share for the orderbook and the business prospects moving forward though.

[our haven] 17/2/2021 15:41

Could not agree more. Good volume too on the tick back up.

[shandypants2] 17/2/2021 15:03

slowly ticking back up.

With the cash position larger than the market cap this is massively undervalued.

YE figures on 4th March i think - a confirmed profit and the dividend re-started should see this back above 150p