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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 Shares Traded Last Trade
  -7.15 -7.63% 86.50 3,343,704 16:35:12
Bid Price Offer Price High Price Low Price Open Price
87.75 89.00 95.15 84.25 94.90
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 3,422.50 -225.30 -168.90 197
Last Trade Time Trade Type Trade Size Trade Price Currency
17:56:55 O 10,206 88.294 GBX

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Date Time Title Posts
27/2/202123:08Kier Group 2005 - The Building Business19,503
17/11/202008:15KIER - doubler in 3 sessions?4
15/10/202020:04Debt for equity at KIE. 4
18/5/202016:41Kier Group 2
16/1/202017:10Kier.....an attempt at a sensible Board12

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DateSubject
27/2/2021
08:20
Kier Daily Update: Kier Group Plc is listed in the Construction & Materials sector of the London Stock Exchange with ticker KIE. The last closing price for Kier was 93.65p.
Kier Group Plc has a 4 week average price of 71.15p and a 12 week average price of 71.15p.
The 1 year high share price is 142.60p while the 1 year low share price is currently 42.90p.
There are currently 227,674,938 shares in issue and the average daily traded volume is 1,266,580 shares. The market capitalisation of Kier Group Plc is £196,938,821.37.
27/2/2021
23:08
stdyeddy: Dear 418249, can I call you 418 for short? I agree on the motivations behind the 'news' release. We've seen hedgefunds putting stories out about Kier at various times over the last 18 months. Davies rarely steps up. I think he has seen the stockmarket as some mysterious creature which does its own thing, regardless of his actions. Now that he's trying to raise some equity, I hope he's taking a bit more notice. Regular posters here have made some other interesting points. a) Davies told the market twice he was considering an 'equity raise'. Since the last rights issue all but failed, even at a much higher price, he would have to be really stupid to be talking down the shareprice by mooting an RI. I see two possibilities. 1. He IS really stupid. It's possible. Davies has been consistently ham-fisted in his communications to the investment community. OR 2. He wasn't talking about an RI. He was talking about an 'equity raise' from outside investors. Since the story is in the mainstream news, now would be the time for more detail. b) As a hedge-fund proprietor, Guy Hands is adroit in manipulating the investment community where Davies is hopeless. Davies doesn't even talk to the press post-results presentations. As I and others have pointed out here, it's in the buy-in group's interests to stop the shareprice from rising. Hence the leak to Sky News. c) How will Davies respond? If he stays true to form, we will hear nothing from him on Monday morning and the shareprice could tank. BUT NOW THAT HE'S IN THE CUT AND THRUST OF A SHARE SALE HE NEEDS TO BE A BIT SHARPER. I HOPE THE MAJOR SHAREHOLDERS CAN GIVE HIM A LITTLE HELP ON UNDERSTANDING THE DYNAMICS OF THE SITUATION. If it's an RI, it might even be called off because it has no prospect of success. If it's an equity buy-in, it will go ahead at advantageous terms for the buyers. They get a massive slice of a major UK business underpinned by government customers and the shareholders will have been ripped off by a canny investment 'consortium'. Or, just possibly, the insiders continue to pick up shares and the share price stays higher. As ever, insiders and the market will decide, but if I don't hear from Davies, I will be looking fwd to seeing the major shareholders boot him out when the donkey work is over. If on the other hand, Davies can fight fire with fire, I will be a fan. He and Kesterton should already have a PR plan to handle news leaks on this project; that will demonstrate his graduation to the role of a good CEO for a PUBLIC company. d) Value of the business. Someone said £1bn. I make that right. Current £3.5bn turnover and 2% net profit (before they pay it out in exceptionals -- and Davies is suggesting in the last RNS that that is over now, but it remains to be seen). Last yr Davies said increased competition for framework contracts might push that margin down, but then kier managed a 2.5% profit in the next results. Also £3.5bn turnover was achieved in a Covid (recession) year. So net profit is nominally £70m, but with a BUILD BUILD BUILD Johnson administration, that is likely to be £4bn-upwards. Maybe very much upwards. I reckon net profits are conservatively in the range £80m to £100m. A reasonable p/e for the sector might be 12. Enterprise value currently is £310m debt plus £150m market cap. Call it £450m. IF the equity buy-in OR rights issue (whichever it turns out to be) raises one for one (ie perhaps doubling the shares in issue) or £130m plus £115m from Kier Living sale, plus perhaps £35 half-year profit, the business could have practically no net debt and a nominal diluted shareprice of what? 40p? For maybe one minute. Because the debt is gone, the revenue and profit stays. That shareprice has to go to £2 very quickly (a p/e of only 8 on £70m profits) and MUCH higher on higher revenue and earnings. e) But is debt gone? Not entirely. Kier will still need to use debt as it does now, for short-term project funding and I doubt that earnings will keep pace with working capital demand because there is a logjam (post-covid) of construction projects waiting to be awarded, and I would like to see the UK's largest construction firm bag £5bn a year in contracts. So we will still see some debt on the balance sheet, but it will be smaller and accrued profits will make it progressively smaller until eventually, the money being paid in interest today will become dividend pay-outs to shareholders.
27/2/2021
20:07
418249: To those who are not sure, Kier’s share price is going only one direction and that’s up. The only issue is the debt size that if managed will not be a major issue. Guess what.... they are doing something about it in a strong way. Redundancies, selling part of business and raising capital to name a few. Then you’ll be left with a business that only recently topped 1300 on the market with a Massive order book. The order book is huge and Government backed, they have their tentacles in numerous contracts from Hospitals, TFL highways to Schools. Kier has almost 1 billion of orders pencilled in this year alone, what does that tell you people? Sell and you’ll have a huge regret in 12 months time, your over analysing this. Huge company + Gove contracts + cheap share price + dealing with debt = 145/165 per share this year. It makes no difference one way or another because the major players in the market are going nowhere. Everyone I now has a piece of this pie because it’s so undervalued and the potential could be life changing depending on your exposure. Kier could be debt free in 3/4 years and then why would the share price not be up to its original level at 1300! If they do an equity via shares then the reduction will be anything from 10/15% which will have no serious impact on the future of the share price or effect current shareholder to much especially if by April we are hitting over 100 per share.
25/2/2021
10:08
itisonlymoney: Christ almighty, you are thin-skinned! You don't have to immediately answer on a free BB just cos someone mentions you. I know this has been asked before, but if you don't like it, why are you always here? No differentiation between the main players? KIE share price is very different. Writedowns have obscured earnings. Taking the last underlying earnings (I know it doesn't mean much when they've had such a history for excpetional costs) the p/e here is about 3. New management has changed the prospects. KIE has a long way to go to catch up with the others on price and balance sheet but that could change quickly. That's probably what's driving the big rise.
22/2/2021
17:13
stdyeddy: oh wolly! Up to your old tricks again! Trying to muddy the waters with selective negative statements? But first, a minor point; Alf Garnett? I do enjoy it when you try to be 'one of the boys' and use what you imagine to be vernacular. Evidently you struggle with social acceptance due to your unusual appearance and night-time proclivities. I will come back to this the next time I write about your biographical events. It will be fun! Getting back to the shareprice, there are three major factors: 1. Infrastructure spend is about to hit record levels. 2. Interest rates are at record lows and will stay that way to aid economic recovery. 3. Kier is the largest UK construction firm and will benefit hugely from 1 & 2. Everything else is just noise. Kier's shareprice is going to go up on those facts alone. With regard to the noise that YOU'RE creating; the equity raise is likely to have been an offer from an investor seeking to buy a big chunk of Kier while the share price is low. I will not be surprised to see that Guy Hands' offer involves a price for KL, contingent on his purchase of perhaps a 25% stake in Kier (requiring the issue of a commensurate number of new shares). That is what I think Davies is considering, and possibly negotiating with the major holders. There will be no Rights Issue; the share price is far too low for it to generate worthwhile funds. Last time, when the share price was much higher, the bookrunners ended up picking up a lot of the shares because the RI was significantly undersubscribed. So I don't imagine corporate bankers will be stepping fwd to manage a new Kier RI and risk getting saddled with a lot of unbought shares. I reckon it's a moot point anyway; the net debt at £310m for a £3.5bn turnover business is basically nothing in the current zero interest rate climate. It's barely worth discussing. Kier's lending is already agreed. Institutional Shareholders: the majority of shares in Kier are held by major institutions. Apart from the inheritors of Woodford's holding who sold down their stake presumably to achieve more acceptable risk management, no one has been in a hurry to divest Kier shares. The time for doing that was 18 months ago. Everyone can see that Kier is an excellent recovery play now. When Kier is in a position to pay out dividends (which it did in the past for many years) there will be plenty of institutional demand for the shares. As for how long I can keep going here; it will be until I make a very significant return. Your imaginary short will be blown up before that. So perhaps I should say 'adieu' to you now.
11/1/2021
14:57
imastu pidgitaswell: Hmmmm - I said would wait until next week, but just seen this. Slightly more current than the previous post: hTTps://www.constructionnews.co.uk/contractors/kier/kier-living-suffers-89m-loss-11-01-2021/ Kier’s up-for-sale residential business lost £89m in its last financial year, new accounts have revealed. Kier Living reported a pre-tax loss of £89.4m for the year ending 30 June 2020. The bulk of the loss was caused by a £50m loan to another residential business, Kier Caledonia Homes, being written off because the company lacked the means to repay it. The company’s performance in the year was further undermined by a £22.3m cost of exiting a number of fixed-price contracts to deliver residential units. It also impaired some of its land assets in Cornwall, Wales and the north of England at a cost of £5.5m. In September, Kier said the Living business had suffered a £12.8m adjusted post-tax loss, with the wider Kier group reporting a £273.3m post-tax loss for the year. As part of a wider cost cutting and staff reduction in the Kier group, 52 people were let go from the Living business during the year and a further 111 staff were cut after June. Kier Living booked a £2.2m cost for making the redundancies. The company’s headcount has fallen from 606 in June 2018 to around 440 now. Kier announced plans to cut around 1,200 jobs in 2019, with the number increasing with the onset of the pandemic. The business has been up for sale since June 2019 and the company said the sales process was "pretty well developed" before COVID-19 hit and the sale was put on hold. In December it was reported that private equity investor had revived its interest in buying the business. COVID-19 significantly affected trading, it said in its results. “In response to COVID-19 the company shut sites and offices at the end of March 2020, with a skeleton team working from home and sales teams operating remotely," the firm said. "In order to preserve cash and protect the balance sheet the company delayed discretionary land expenditure and restricted new infrastructure works.” Kier Living claimed £2.2m from the government’s Coronavirus Jobs Retention Scheme and cut pay for staff that were not put on furlough. Its sites were re-opened in May, with work focused on properties that had buyers locked in. Direct costs linked to COVID-19, including those incurred form making sites safe, was £4.4m. Kier Living’s revenue plunged £55.2m in its last financial year compared to £118.1m in June 2019. Kier has been cutting its development and residential work since Andrew Davies took over as chief executive in 2019, but the company said the shutdown from March meant revenue was even lower than it had initially anticipated for the year. Completions fell to 307 compared to 717 in 2019. Despite the trading problems and loan write off, Kier Living saw its net assets increase to £140m in the year compared to £64.1m in 2019. The advance was partially due to its parent company pumping in £164m of fresh equity in December 2019 to repay inter-company debt of the same value. Kier Living had £8.7m in net current assets at 30 June 2020 and confirmed it is dependent on the support of its parent company to continue trading.
07/1/2021
13:44
stdyeddy: A REMINDER: This share tripled last year in August and has doubled from other lows. A lot of people recognise that Kier is underpriced and so there's a lot of interest waiting on the sidelines. In terms of why it should multi-bag, let me also remind you of something that I said earlier: === After successfully renegotiating its debt covenants with an easily achieved minimum threshold for cash (£50m) it is obvious that lenders have confidence in Kier and are not anxious for their money back. === The business regained its no.1 ranking for contract wins in November (AND the previous 12 months - December figures show Kier currently at no.2), indicating confidence from its clients and effectiveness in its work-winning efforts. === Covid costs, whilst reducing profits temporarily, did not make contracts loss-making -- Kier was able to cope with the current health emergency, and importantly, did not stop working during lockdowns; one of only a few businesses able to do so. === The management and staff have behaved responsibly, taking short-term pay cuts to conserve cash; this looks like a business which is able to keep its staff onboard and suggests generally good leadership internally. === The broader economic picture, though challenging for many businesses, favours infrastructure firms; govt has stated publicly its intention to build the economy out of recession, and this is a proven economic strategy, so I think it will be followed through. Kier is especially well-placed since it is a major business in so many vital areas (schools, hospitals, roads, homes, cabling, flood defences, urban regeneration) and has a long-history and proven client relationships, reflected in its many hundreds of current contracts. === The share price chart shows a reversal and hedgefunds have exited their short positions. === The shares are priced at little more than one year's earnings and are cheap enough to justify investment on the basis of some risk but potentially higher reward. === Kier's businesses have all joined the prompt payment code (the last one re-joining just recently) indicating that suppliers are being paid promptly; a good indicator that the firm has sufficient cash to finance its operations. My feeling is that the current share price does not come anywhere close to reflecting the value of the business; whilst the share price of two years ago was evidently too high (£12), once the price started dropping it achieved a runaway downward momentum aided by a poor management team and a group of hedgefunds who may have manipulated the price down. There are well-known techniques by which hedgies achieve this. Consequently we are now at a price way below any realistic valuation for the business in my opinion.
03/1/2021
19:56
stdyeddy: And btw; can Kier multi-bag? Let me remind you that this share tripled last year in August and has doubled from other lows. A lot of people recognise that Kier is underpriced and so there's a lot of interest waiting on the sidelines. In terms of why it should multi-bag, let me also remind you of something that I said earlier, which you appear to have not understood: === After successfully renegotiating its debt covenants with an easily achieved minimum threshold for cash (£50m) I could see that lenders had confidence in Kier and were not anxious for their money back. === The business regained its no.1 ranking for contract wins in November (AND the previous 12 months), indicating confidence from its clients and effectiveness in its work-winning efforts. === Covid costs, whilst reducing profits temporarily, did not make contracts loss-making -- Kier was able to cope with the current health emergency, and importantly, did not stop working during lockdowns; one of only a few businesses able to do so. === The management and staff behaved responsibly, taking short-term pay cuts to conserve cash; this looks like a business which is able to keep its staff onboard and suggests generally good leadership internally. === The broader economic picture, though challenging for many businesses, appears to favour infrastructure firms; govt has stated publicly its intention to build the economy out of recession, and this is a proven economic strategy, so I think it will be followed through. Kier is especially well-placed since it is a major business in so many vital areas (schools, hospitals, roads, homes, cabling, flood defences, urban regeneration) and has a long-history and proven client relationships, reflected in its many hundreds of current contracts. === The share price chart shows a reversal and hedgefunds have exited their short positions. === The shares are priced at little more than one year's earnings and are cheap enough to justify investment on the basis of some risk but potentially higher reward. === Kier's businesses had almost all joined the prompt payment code (the last one re-joining just recently) indicating that suppliers are being paid promptly; a good indicator that the firm has sufficient cash to finance its operations. My feeling is that the current share price does not come anywhere close to reflecting the value of the business; whilst the share price of two years ago was evidently too high (£12), once the price started dropping it achieved a runaway downward momentum aided by a poor management team and a group of hedgefunds who may have manipulated the price down. There are well-known techniques by which hedgies achieve this. Consequently we are now at a price way below any realistic valuation for the business in my opinion.
30/12/2020
12:00
stdyeddy: wally; how can Kier make anyone rich (to use your words)? Let me remind you that this share tripled last year in August and has doubled from other lows. A lot of people recognise that Kier is underpriced and so there's a lot of interest waiting on the sidelines. In terms of why it should multi-bag, let me also remind you of something that I said earlier, which you still appear to have not understood: === After successfully renegotiating its debt covenants with an easily achieved minimum threshold for cash (£50m) it's obvious that lenders have confidence in Kier and were not anxious for their money back. === The business regained its no.1 ranking for contract wins in November (AND the previous 12 months), indicating confidence from clients and effectiveness in Kier's work-winning efforts. === Covid costs, whilst reducing profits temporarily, did not make contracts loss-making -- Kier has coped with the current health emergency, and importantly, did not stop working during lockdowns; one of only a few businesses able to do so. === The management and staff behaved responsibly, taking short-term pay cuts to conserve cash; this looks like a business which is able to keep its staff onboard and suggests generally good leadership internally. === The broader economic picture, though challenging for many businesses, appears to favour infrastructure firms; govt has stated publicly its intention to build the economy out of recession, and this is a proven economic strategy, so I think it will be followed through. Kier is especially well-placed since it is a major business in so many vital areas (schools, hospitals, roads, homes, cabling, flood defences, urban regeneration) and has a long-history and proven client relationships, reflected in its many hundreds of current contracts. === The share price chart shows a reversal and hedgefunds have exited their short positions. === The shares are priced at little more than one year's earnings and are cheap enough to justify investment on the basis of some risk but potentially higher reward. === Kier's businesses have all joined the prompt payment code (the last one re-joining just recently) indicating that suppliers are being paid promptly; a good indicator that the firm has sufficient cash to finance its operations. My feeling is that the current share price does not come anywhere close to reflecting the value of the business; whilst the share price of two years ago was evidently too high (£12), once the price started dropping it achieved a runaway downward momentum aided by a poor management team (now replaced) and a group of hedgefunds who may have manipulated the price down. There are well-known techniques by which hedgies achieve this. Consequently we are now at a price way below any realistic valuation for the business in my opinion.
22/12/2020
13:56
stdyeddy: wally; how can Kier multi-bag? Let me remind you that this share tripled last year in August and has doubled from other lows. A lot of people recognise that Kier is underpriced and so there's a lot of interest waiting on the sidelines. In terms of why it should multi-bag, let me also remind you of something that I said earlier, which you appear to have not understood: === After successfully renegotiating its debt covenants with an easily achieved minimum threshold for cash (£50m) I could see that lenders had confidence in Kier and were not anxious for their money back. === The business regained its no.1 ranking for contract wins in November (AND the previous 12 months), indicating confidence from its clients and effectiveness in its work-winning efforts. === Covid costs, whilst reducing profits temporarily, did not make contracts loss-making -- Kier was able to cope with the current health emergency, and importantly, did not stop working during lockdowns; one of only a few businesses able to do so. === The management and staff behaved responsibly, taking short-term pay cuts to conserve cash; this looks like a business which is able to keep its staff onboard and suggests generally good leadership internally. === The broader economic picture, though challenging for many businesses, appears to favour infrastructure firms; govt has stated publicly its intention to build the economy out of recession, and this is a proven economic strategy, so I think it will be followed through. Kier is especially well-placed since it is a major business in so many vital areas (schools, hospitals, roads, homes, cabling, flood defences, urban regeneration) and has a long-history and proven client relationships, reflected in its many hundreds of current contracts. === The share price chart shows a reversal and hedgefunds have exited their short positions. === The shares are priced at little more than one year's earnings and are cheap enough to justify investment on the basis of some risk but potentially higher reward. === Kier's businesses had almost all joined the prompt payment code (the last one re-joining just recently) indicating that suppliers are being paid promptly; a good indicator that the firm has sufficient cash to finance its operations. My feeling is that the current share price does not come anywhere close to reflecting the value of the business; whilst the share price of two years ago was evidently too high (£12), once the price started dropping it achieved a runaway downward momentum aided by a poor management team and a group of hedgefunds who may have manipulated the price down. There are well-known techniques by which hedgies achieve this. Consequently we are now at a price way below any realistic valuation for the business in my opinion.
22/12/2020
13:13
stdyeddy: Since you ask, I decided to buy Kier for a number of reasons: - After successfully renegotiating its debt covenants with an easily achieved minimum threshold for cash (£50m) I could see that lenders had confidence in Kier and were not anxious for their money back. - The business regained its no.1 ranking for contract wins in November (AND the previous 12 months), indicating confidence from its clients and effectiveness in its work-winning efforts. - Covid costs, whilst reducing profits temporarily, did not make contracts loss-making -- Kier was able to cope with the current health emergency, and importantly, did not stop working during lockdowns; one of only a few businesses able to do so. - The management and staff behaved responsibly, taking short-term pay cuts to conserve cash; this looks like a business which is able to keep its staff onboard and suggests generally good leadership internally. - The broader economic picture, though challenging for many businesses, appears to favour infrastructure firms; govt has stated publicly its intention to build the economy out of recession, and this is a proven economic strategy, so I think it will be followed through. Kier is especially well-placed since it is a major business in so many vital areas (schools, hospitals, roads, homes, cabling, flood defences, urban regeneration) and has a long-history and proven client relationships, reflected in its many hundreds of current contracts. - The share price shows a reversal and hedgefunds have exited their short positions. - The shares are priced at little more than one year's earnings and are cheap enough to justify investment on the basis of some risk but potentially higher reward. Kier's businesses had almost all joined the prompt payment code (the last one re-joining just recently) indicating that suppliers are being paid promptly; a good indicator that the firm has sufficient cash to finance its operations. My feeling is that the current share price does not come anywhere close to reflecting the value of the business; whilst the share price of two years ago was evidently too high (£12), once the price started dropping it achieved a runaway downward momentum aided by a poor management team and a group of hedgefunds who may have manipulated the price down. There are well-known techniques by which hedgies achieve this. Consequently we are now at a price way below any realistic valuation for the business in my opinion.
Kier share price data is direct from the London Stock Exchange
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