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Share Name Share Symbol Market Type Share ISIN Share Description
Kier Group Plc LSE:KIE London Ordinary Share GB0004915632 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.20 0.26% 76.00 75.80 76.10 77.50 75.60 77.50 492,894 16:35:15
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 3,328.5 5.6 -0.1 - 339

Kier Share Discussion Threads

Showing 23251 to 23272 of 23575 messages
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DateSubjectAuthorDiscuss
20/1/2022
14:14
I would much prefer for another supplier to attempt to buy Kier 😊
stdyeddy
20/1/2022
14:12
Obviously it's an early update -- the full numbers will reveal a little more. So far though, broadly positive, especially given the inflation story that some people had been pushing, and I reckon worth more than a fwd p/e of 4.
stdyeddy
20/1/2022
14:06
Yes, I have forgotten... No, re the 04/20 note - maybe they said something then (April 2020?) I guess (procurement policy) it was to do with paying their suppliers on time (which they used not to do) and the consequent negative impact on their cash, i.e. net debt will be higher because for the change in policy. It's just really difficult, maybe impossible until they get to 'steady state' to see what the underlying cash generation is. Notwithstanding that, I see them on an earnings multiple of around 4.8, based on their medium plan and consequent turnover and margins, continuing to improve if they deliver. Similar (but higher) than another company in the sector, wouldn't you know? Maybe KIE should buy them (with another placement), trouser their £100m net cash, solve the net debt position, and we could all live happily ever after...
imastu pidgitaswell
20/1/2022
13:56
A reasonable summary masturpig, though you forgot the outstanding VAT bill of £18m (I think, from memory). Do you have any idea what the 04/20 note refers to? Btw, I don't see why you're bothering to defend your comments from last year re trade financing, but the fact that they've reduced their trade payables by £42m and maintained their 34 days avg payment terms to suppliers will obviously reduce cash on hand. That's the same for any business.
stdyeddy
20/1/2022
13:29
It is an unfortunate fact that Cash and cash flow are immediate not "medium-term" It looks like they are still leaking cash as Current Debt > Old Debt+Cash inflows. Thsi isn't what I was expecting to see and isn't in line with the "success" progress being in line with management expectations doesn't matter in the slightest as the management didn't share what their expectations were and I don't know if their expectations are consistent with me wanting to hold their shares. If management expectations are to draw a salary and bonus until the thing collapses then.............all is good. I have no idea what is happening really, they could be going great guns or, debts could be piling on and the thing is going to collapse. Either scenario can be inferred from the wording here.
marksp2011
20/1/2022
13:26
Up well over 130p (12 percent) since my investment last Monday thanks.
wallywoo
20/1/2022
13:16
How's Polymetal doing Wally?
kangaroo joe
20/1/2022
12:19
The order book is up, inflationary costs are under control, medium targets are unchanged. All good. Fwd p/e for this business is about 4. Still a bargain. Kier is probably more likely to get bought than TD.
stdyeddy
20/1/2022
12:17
The update today: Kier continues to win new, high quality and profitable work in its markets on terms and at rates which reflect the bidding discipline and risk management introduced under the Group's Performance Excellence programme. We remain focused on winning work through our long-standing client relationships and regionally based operations. The Group's order book at 31 December 2021 was c.GBP8.0bn, an increase of c.4% from the year-end position (FY21: GBP7.7bn). The order book continues to be underpinned by significant long-term framework agreements. New awards exceeded the prior year, albeit the growth in order book was later than anticipated due to procurement delays. Recent contract awards include: -- Infrastructure Services: o Highways - over GBP1bn of work awarded over the last six months including the design and build of the A66 Northern-Trans-Pennine schemes o Infrastructure & Utilities - appointed by Thames Water to deliver GBP66m improvement project at Mogden Sewage Treatment Works -- Construction - appointed to the GBP7bn Department for Education 2021 Construction Framework; appointed to design and build GBP93m worth of new clinical buildings at Luton and Dunstable hospital; appointed as preferred bidder to deliver GBP36m new Sunderland eye hospital o Kier Places - extensions of two existing long-term contracts worth a combined GBP71m Net debt The Group is expecting a cash outflow in the first half of the year due to the typical unwind of working capital. The Group's average month-end net debt has significantly reduced from GBP436m to below GBP200m period over period as a result of the successful capital raise, the sale of Kier Living and cash generation. This was partially impacted by a GBP42m reduction in the average month-end KEPS balance, payment of adjusting items, capex and cash unwind of procurement policy note 04/20. The Group's supplier payment days remain unchanged period over period. Medium Term Value Creation Plan The Group remains confident in achieving its medium-term targets of: Revenue: GBP4.0 - 4.5bn Adjusted operating profit c. 3.5% margin: Cash conversion of operating c. 90% profit: Balance sheet: Sustainable net cash position with capacity to invest Dividend: Sustainable dividend policy: c.3 x cover through the cycle
stdyeddy
20/1/2022
12:16
Sparty is losing his shirt here. Great news
jaystevens1
20/1/2022
12:06
wolly, as ever, you are lying. You should know after following this business for three years that Kier spends more working capital on the first half and has cash inflow on the second half. Construction has a seasonal rhythm. There is nothing unusual here. Group net debt, when trade debtors and creditors are reconciled is likely to be a positive net cash. Avg month-end of £200m is in the ballpark of what we were expecting. Again, you should know this from following the business for so long. Also, it's very unlikely that there will be a cashraise for TD. My guess is that it'll be all-share or possibly a token payment plus shares. Kier could effectively swap Tempsford Hall for the business. The banks who own TD don't want to be responsible for running the management team there. They want to get it off their shoulders. Everything else that was Interserve is sold. This is the piece that no one particularly wants, looking for a home. It probably won't even end up with Kier, but if it does, it'll be for the reasons I've already mentioned. The management at TD might even manage a buyout themselves -- but if you were one of the TD pension trustees sitting on a £100m surplus, who would you prefer to own the business; a large publicly-listed national firm with a huge pipeline of work or some novice entrepreneurs hoping to get richer doing their day job? I'm pretty sure the trustees would much prefer Kier as the owner and Davies now knows a lot about dealing with pension trustees after his experience in extricating Kier Living from Kier Group where the trustees were a major stakeholder. There's nothing to get excited about here.
stdyeddy
20/1/2022
11:49
Typo £209m read £200m. The City could be sensing K is set to buy TD as CEO was reported to be silent on takeover?
stutes
20/1/2022
10:29
I was waiting for some comments, before adding, the group debt is still around 500m, the month end debt is down but by around 230m, but they took in from KL sale and rights issue around 350m, so look like still hemorrhaging money, and interesting add that h1 will be impacted, by shortages etc, like I've said buying up companies is a way hit the markets for more money, justified by integration costs exactly as carillion did,
bathboy2
20/1/2022
09:59
The trading update shows debt has been reduced following rights issue and ssle of homes unit. In growing turnover and paying to HMG payment terms retaining profits - the net debt is around £209m. It seems K is doing more with less debt.
stutes
20/1/2022
09:54
Lol, you have to read between the lines with Kier's trading updates. Two words says it all, "cash outflow" for H1.That goes with the substantial cash outflow for the last 6 years!!!I wonder how long the cash will last this time 1-2 years is my bet before they are looking for yet more cash!!!
wallywoo
20/1/2022
09:08
I was thinking of reinvesting here but I don't think the update will keep some current investors interested, which could lead to slippage in the price. The construction industry just seems to lack any significant appeal, unfortunately. I'll be interested to see what comes re TD though.
davwal
20/1/2022
08:30
Yep, but actual net debt, rather than avg month-end debt, is probably just about zero. Davies is definitely not getting any chattier. I get the impression that his wife is probably the fun part of that partnership. Also, is it my imagination, or are his eyebrows getting darker while his hair goes whiter? Nothing at all about Tilbury Douglas. Not a bone. Not a sausage. Nuffink. I suppose that's to be expected -- what's he going to say? We've got month-end debt of £200m and want to make it £250m again? I reckon the TD deal, if it happens, will be an all-share deal for mutual interest -- TD gets access to Kier's massive framework client base and its pension fund gets the slightly better protection of a top tier construction business and whatever longevity that might produce, while Kier gets a quick £1/2bn added to its turnover, one less competitor and another brand to be subsumed within its stable of forgotten building marques. There's no way AD can start saying it's an all-share deal at this point without damaging the negotiation, and he can't say there's money involved without unsettling investors. I wonder what his wife says.
stdyeddy
20/1/2022
08:10
...dull as dishwater and still £200 million in debt even after the capital raise.
rumbers2
20/1/2022
07:54
Kier trading updates are always dull. Always trading in line with expectations nonsense. Pointless.
dasty1
20/1/2022
07:46
very positive update. Trading The Group performed well in the first half, despite inflationary pressure and expects to deliver half-year results in-line with the Board's expectations. This reflects continued strong operational performance and the confidence outlined in our full year results announcement in September 2021. Order Book Kier continues to win new, high quality and profitable work in its markets on terms and at rates which reflect the bidding discipline and risk management introduced under the Group's Performance Excellence programme
this_is_me
19/1/2022
10:11
The media are reporting on the FRC disciplinary hearing involving former employees of KPMG, auditors of Carillion. It brings to memory , one of Carillion's financial problems related to Alfred McAlpine pension fund. Should K buy TD how will K protect itself from having to fund TD's pension pot in the future?
stutes
18/1/2022
22:47
Thanks for that Peter. A more considered and better informed piece, I think. Although I might just be feeling that way because it echoes my thoughts on not much money being involved. A very interesting development. A big down day for most indices, but we seem to have bucked the trend here, so shareholders are definitely not spooked. Looking fwd to Thursday.
stdyeddy
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