Kier Share Discussion Threads

[bathboy2] 09/3/2023 11:55

Solid results , strong order book, share price not going up , somebody / something else' fault , where can I buy the rose tinted glasses some have on here

[mortimer7] 09/3/2023 10:55

NAV £482.6m. Including Goodwill carrying Value £536.7m.
Built on Sand!

[stutes] 09/3/2023 10:37

6 yrs, end of March, without K paying a dividend yet directors are paid bigger salaries- looks as if only the shareholders are feeling he fallout?

[hamhamham1] 09/3/2023 09:46

It's a solid update, that's good enough for me, markets obsessed with US jobs data at the moment.

[stdyeddy] 09/3/2023 09:45

All this positive coverage has not exactly set the share price on fire though. The market is evidently not in the mood for good news from construction firms.

As marksp2011 has already suggested, a slow grind up appears to be the pace and the trajectory.

[stdyeddy] 09/3/2023 09:42

Construction Enquirer:



A strong six months of work winning has seen Kier raise its order book by over a quarter to £10bn to create a strong platform for future growth.

Reporting results for the six months to December, Kier said the swollen order book set the firm up for profitable growth in the year ahead with 60% secured under target cost or cost-reimbursable contracts with an average order size of £14m.

Over the period, group pre-tax profit doubled to £25m from level revenue of £1.5bn. This saw adjusted operation margin rise to 3.7%, exceeding Kier’s own 3.5% medium term target.

But despite improved trading, Kier’s still battles with high average month-end net debt which has now jumped again to £243m.

Andrew Davies, chief executive, said that the 27% rise from debt of £191m previously was driven by seasonal working capital requirements and a £50m cash outflow to close its KEPS supply chain finance facility.

Kier now hopes to begin to pay down debt in 2024 as it benefits from future strong cash inflows off its large order book.

Davies said: “The strong performance of the group over the last six months reflects our enhanced resilience and strengthened financial position.

“Our order book has increased significantly against the prior year, reflecting a large number of contract wins across our divisions and this provides us with good, multi-year revenue visibility. These awards reflect the bidding discipline and risk management now embedded in the business.

[stdyeddy] 09/3/2023 09:37

All the analysts that I can find are flagging Kier as a buy. In the Building article, they quote Numis:

In a brokers note, analysts at Numis raised the prospect of the firm paying out a dividend for the first time since Davies joined in 2019.

“Average net debt has increased as expected due to actions to pay down debt-like items KEPS and tax deferrals, leaving a cleaner base going forwards; FY24 is expected to show meaningful average net debt reduction

“The divi[dend] is expected to be reinstated once sustainable average net cash is in sight; our base case is a final FY24 divi,” it added.

[stdyeddy] 09/3/2023 09:35

From industry journal Building:



Kier doubles profit as analysts eye return of dividend

Turnover at country’s second biggest contractor stays flat but margins head north

A strong performance from Kier’s construction arm helped double profit in the first half despite revenue staying the flat during the period, the firm said in interim results announced this morning.

The country’s second biggest contractor said income for the six months to December 2022 was unchanged at £1.5bn.

But the firm’s pre-tax profit jumped from £12.7m to £25.4m with operating profit edging up 6% to £57m. Kier said its operating margins now stood at 3.7%, above its 3.5% target.

Turnover from its construction business was up 4% to £704m but operating profit doubled to £25.6m.

[stdyeddy] 09/3/2023 09:32

Here's how the press are reporting Kier's results:



Kier doubles profit despite £4m fire safety provision

Kier's profit has doubled due to increased workload – despite a £4m fire safety provision

The contractor’s pre-tax profit was £25.4m in the six months to 31 December 2022, double the £12.7m it had registered in the same period the year prior.

Revenue across the group was up 4 per cent to £1.53bn in comparison to £1.48bn, which Kier said was “due largely” to it starting work on the new prison site at HMP Full Sutton in Yorkshire. Kier snapped up a £400m contract to build the site in August.

Kier’s profit increase was most pronounced at its construction branch, which it put down to “increased volume and the impact of [the] prior year’s restructuring”. Operating profit at its construction division doubled to £25.6m.

[hamhamham1] 09/3/2023 09:22

Stdyeddy, u prob right, but there's a lot of angry peeps out there!
What a way to live precious moments on this earth, honestly, peeps need to check themselves sometimes.

[hamhamham1] 09/3/2023 09:19

I bet all three has their doomster texts pre-written out in notepad, ready to copy and paste here this morning, and doh, how disappointing for them :)

[stdyeddy] 09/3/2023 09:18

hamham, fyi, wallywoo and bathboy are the same person. Same behaviour, posts at the same times, same messages, constantly lying. Same person. Fragile ego; gets in a frenzy whenever he's called out. We all know why. wolly tried to short Kier during the rights issue, claiming his first short at 50p, and then increasing it all the way to 90p, and then when the shares rocketed to 130p his account blew up and he was well and truly fvcked. He'll never forget that. That's why he's always here, making snide comments and trying to mislead anyone who doesn't know kier inside out.

[hamhamham1] 09/3/2023 09:16

Oh here's another one of the three stooges.
Every board has them I guess :0

wallywoo9 Mar '23 - 09:03 - 24742 of 24744 (Filtered)

[stdyeddy] 09/3/2023 09:11

Andrew Davies, Chief Executive, said:

"The strong performance of the Group over the last six months reflects our enhanced resilience and strengthened financial position. Our order book has increased significantly against the prior year, reflecting a large number of contract wins across our divisions and this provides us with good, multi-year revenue visibility. These awards reflect the bidding discipline and risk management now embedded in the business.

Looking ahead, we expect to generate positive operating cashflow for the full year and deliver a net cash position at the year-end. Current trading remains in line with the Board's expectations despite political and economic uncertainties. The Group is well positioned to continue benefiting from UK Government infrastructure spending commitments and focused on the delivery of a sustainable net cash position and a sustainable dividend, in line with our medium-term value creation plan."

[stdyeddy] 09/3/2023 09:09

You're misleading. And an attention seeker.

End of year is one day for all companies, you stupid pr@tt.
A few months back you were predicting a fall to 20p. Still confident on that prediction, idiot?

[wallywoo] 09/3/2023 09:03

Usual meaningless words from Kier. "Looking forward Kier expect to generate positive operating cashflow "They have always generated positive operating cashflow. Unfortunately the other costs that are not included in operating costs always mean that average monthly net debt always rises. Every period for 6 years now."At the year end Kier expect to have a net cash position " This is just for 1 day balance sheet snapshot. No doubt their average monthly net debt will rise again because Kier are unable to generate cash. No cash means another cash raise in the future. I do think these statements are very misleading. Trying to con investors into buying this rubbish.

[itisonlymoney] 09/3/2023 09:02

bathboy, youre always biting back immediately, like this thread is the most important thing in the world to you. obviously you've lost money trying to short kier. when it was 58p a few months ago, you were predicting 20p. instead its in the mid 70s. nothing much wrong with firm. keeping its revenue in a recession. exceeding its profit margin target of 3.5%. doubled its profit compared to last half yr.

[itisonlymoney] 09/3/2023 08:56

bathboy, if you believe what youre saying, how come you post on here every day? Good that you start your post with a lie - 'sorry to let you down' . i assume the rest of what you say is a lie too.

[bathboy2] 09/3/2023 08:41

I'm sorry to let you down , but not been burnt by kier , but I think you are delusional if you will make money here, seen it before , it is a day traders stock IMO , nothing more ,

[stutes] 09/3/2023 08:39

h

The business continues to seek revenue and it relies on £243m of debt to fund itself; it hasn't paid a dividend for sometime. I still think it should focus on profit ahead of turnover.

[hamhamham1] 09/3/2023 08:21

Bathboy. Every single one of your numerous posts slags off Kier.
That is not normal. You post nowhere else but here... hmmm.

[hamhamham1] 09/3/2023 08:19

Bathboy, you really have issues with Kier, you must have been burnt badly?
That is not a bad update, you're clinging to threads, hilarious, but kinda sad.
But knock yourself out. You obviously don't have much else going on in life!

[bathboy2] 09/3/2023 08:14

Some are pleased with that ?? Extra 50mn in month end debt , looks like just pushing figures around, and making the best of it , zombie company just about holding its head above water , no mention of dividends again , looks like a long way off , markets will absorb the facts today and movement will be tomorrow IMO

[marksp2011] 09/3/2023 08:13

As expected

Nothing to see here. It will be a slow grind up I think