Keller Share Discussion Threads

[redips2] 18/11/2010 11:01

So--no comments or views today!

[stevemarkus] 05/8/2010 10:03

Quite surprised by the rise in the share price here, given the fairly lacklustre results recently. Any ideas from anyone why this might be on the up?

Cheers,
Steve.

[ukinvestor220] 05/8/2010 08:51

cheers nellie - nice website :)

[nellie1973] 04/8/2010 17:57

Tipped in press today

[puffintickler] 17/7/2010 15:12

Ramp alert

Put bori5 on your filter list, it is posting the same ramp everywhere.

[bori5] 17/7/2010 10:57

O/T check out IRG. DYOR & GL

[jonwig] 14/5/2010 17:58

3800 - sorry I didn't give a link from the FT:



On reflection, I sold this morning. Not only KLR, but markets generally are looking fragile. What happens in Euroland when *every* country reduces demand?

[3800] 14/5/2010 16:56

Hi jonwig, where did you get that analysts report from RBS?
3800

[jonwig] 14/5/2010 08:28

Analysts at RBS have cut forecast PBT of £58.62m and eps of 58.36p (on 5 May) to £42m and 42.8p.
They were the lowest numbers before the profit warning (typical was £63-70m and 63-70p).

Quoted in the FT:

"The US business went into the downturn with a too high cost structure and it will be tough as long as the margins remain under pressure," said Mark Howson, an analyst at RBS.

I'd be surprised if the divi was maintained (around 22p).

[beaudelaire] 13/5/2010 13:11

jonwig -
When Goldman S. of Deutch B. say something do the opposite.
They built their wealth on cheating and deception.
They probably knew the KLR statement upfront.
Two things:
1/ They shorted and wait the opposite effet by panic selling today
to maximise the gains.
2/ They wanted to offload asap before positionning shorts as they issue "buy".

[jonwig] 13/5/2010 10:48

This shows the ABI to Feb 2010. I think inquiries is the one to watch as it's more forward-looking.

The Architecture Billings Index (ABI) is a diffusion index derived from the monthly Work-on-the-Boards survey, conducted by the AIA Economics & Market Research Group. The ABI serves as a leading economic indicator that leads nonresidential construction activity by approximately 9-12 months. The indexes are developed from the monthly Work-on-the-Boards survey panel where participants are asked whether their billings increased, decreased, or stayed the same in the month that just ended. According to the proportion of respondents choosing each option, a score is generated, which represents an index value for each month.

[puffin tickler] 13/5/2010 09:13

Well Mr Market certainly got his predictions wrong on this one. Very strong run up to the results proved unfounded.

At least it looks like this is not a share that leaks information.

Looks ok for the long term but I would not be surprised to see a further drift off in price as punters look for quicker gains elsewhere.

[smellyjim] 13/5/2010 09:01

Possibly a good buying point here, mixed statement and yes this year not as expected but the key point is they're finally seeing recovery in their markets. Certainly one for tucking away and possibly a not bad bounceback trade today. There's plenty of buyers on level 2 that's for sure.

[jonwig] 13/5/2010 08:40

"Significantly below expectations" I think means around 20% below at a PBT level.

Currently there are:

31-Dec-10 Revenue £1,034.26m, PBT £64.72m, EPS 66.07p

so we might be talking about eps of 50p say, and so a PE of 12.5x which looks pretty generous.
The market may take some encouragement from suggestions that globally things are past the worst.

Time to start monitoring again the Architecture Billings Index (ABI) from the The American Institute of Architects (AIA). I'll dig out some numbers when I've time

[redips2] 23/4/2010 13:11

At last some action!

[levr] 03/3/2010 09:09

The opening paragraph from the outlook statement ..

"Clearly, 2010 will be another challenging year, not helped by the
impact of the severe weather in the northern hemisphere in the first two
months, which has greatly restricted our output. As a Group, we have not yet
seen a sustained upturn in orders and this is reflected in our order book,
which is 14% below the same time last year on a constant currency basis."

.. was indeed negative and probably sufficient to provoke the share price reaction.

Using Buffet's results yardsticks though, of performance against industry backdrop and progress in broadening their moat, the results look very satisfactory to me.

[jonwig] 02/3/2010 19:54

Yes, results much as I expected. They beat the forecasts at eps level by a small margin.

Forecasts for current year are for another (smaller) decline in profits and the outlook statement reflected that. Even so, today's share price fall might be more to do with its having risen by a good 10% in the last month.

[damanko] 02/3/2010 07:04

Main points from this morning's release, look pretty impressive at first glance. Dividend increase welcome, in this climate...


*2008 comparators relate to results from continuing operations. There were no
discontinued operations in 2009.

Highlights include:

- Good contract performance and firm cost control keep operating
margin high by historic standards

- Further geographical diversification, with 26% of 2009 revenue
coming from Australia and developing markets

- October acquisition of Resource Holdings Limited in Singapore for
an initial cash and debt-free consideration of GBP27.1m, bringing critical mass
to the Group's operations in South East Asia

- Cash generated from operations represents 109% of EBITDA,
reflecting strong focus on cash collection and working capital

- Year-end net debt of GBP78.8m (0.7x EBITDA); committed facilities
of over GBP200m with substantial covenant headroom

- Total dividend of 21.75p (2008: 20.7p), a 5% increase,
maintaining our track record of increasing the dividend every year since
flotation

Justin Atkinson, Keller Chief Executive said:

"The Group's 2009 results held up well, given that most of our
markets were severely depressed throughout the year. Despite a general
shortage of contract awards, resulting in intense competition and tighter
pricing, good overall contract performance and our firm cost control mitigated
the impact on the Group's operating margin.

"The Group is in a very sound financial position, which we will
safeguard through our constant focus on cash generation and costs. From this
position of strength, we expect to continue to grow in those markets which
offer good opportunities. In more mature markets, the actions taken to protect
our profitability mean that we will emerge from the downturn even stronger and
ready to seize the advantage, as these regions recover.

"By focusing on what we do best, we are confident that we will
maintain our track record of out-performing our markets over the medium to
long term."

[pauliewonder] 05/1/2010 12:42

Buy with a 700p price target according to Panmure Gordon:

[jonwig] 26/11/2009 17:34

Dubai seems to be hitting construction pretty indiscriminately.

From what I can see there's not much current exposure to Dubai. They did foundation work on Palm island in 2004, and I suppose they've been paid!

[levr] 28/10/2009 09:56

The link works for me by pasting group.thtml after the hyphen.

[jonwig] 28/10/2009 09:00

Can't open the link, sorry!