Kier Share Discussion Threads

[itisonlymoney] 20/11/2023 17:12

what's yr motivation. whyre you here posting nonsense? the fact that you answering me so quick makes me think you're a lonely weirdo. I'm gonna have to end this chat since youre not being honest.

[stutes] 20/11/2023 17:10

You just don't read to end of the sentences. Work back from net debt and add cash (subbies and supply chsin) for bank facility.
Why do you write tosh rather than something of credit?

[itisonlymoney] 20/11/2023 17:06

are you really that thick?

[itisonlymoney] 20/11/2023 17:06

knowing why someone is here is the key to understanding why that person tells lies on here, in your case. so i reckon if you don't know what a credit facility is, you definitely wouldn't have the confidence to short. so whyre you here posting bullsh1t?

[itisonlymoney] 20/11/2023 17:02

yeah, you idiot, that's the facilities if it needs to use, not what its actually drawn down you numpty.

[stutes] 20/11/2023 16:45

Treasury facilities
Bank finance
The Group has committed debt facilities of £569.4m with
a further £18.0m of uncommitted overdrafts.
The facilities comprise £495.0m Revolving Credit Facility
(‘RCF’), £74.4m US Private Placement (‘USPP’) Notes
as well as £18.0m of overdrafts.
During the year, the Group repaid £35.6m of USPP Notes
and the remaining £8.2m of Schuldschein Note debt. It also
reduced the RCF facility by £40.0m. We expect to reduce
a further £20.0m of the RCF and repay £1.7m of USPP
Notes in the calendar year 2023.
The Group’s revolving credit facility is scheduled to expire
on 31 January 2025. The Board is confident in the Group’s
ability to refinance during FY24.

Excerpt from K's report - facts.

[itisonlymoney] 20/11/2023 16:32

admit you dont have a short here.

[itisonlymoney] 20/11/2023 16:30

read the end of yr accounts. yr mistating the situation. what are you lying for? you just want attention, right? lonely strange old man?

[stutes] 20/11/2023 16:27

Just read the K's reports or Google if I'm wrong show me.

[itisonlymoney] 20/11/2023 16:06

why'r you lying about it stutes? end of yr results show the debt (£230m from memory) AND THE PROFIT AND CASH GENERATION which you don't seem to ever talk about. 3 messages from you today. getting a bit desperate for attention, right? considering you say you don't even have shares or a short here, you're a bit weird posting lies on here all the time.

[stutes] 20/11/2023 15:50

For discussion compare K's debt and cash position to Morgan Sindall and ask why K has the debt in excess of £500m?

K is reported to want to reduce debt by circa £20m 23/24, K has to renegotiate its bank facility by Jan 25 - therefore K intends to maintain a debt burden in excess of £500m? Why maintain a debt above £500m?

[stutes] 20/11/2023 12:23

Admittedly the number of administrations creates tender opportunities, however, with less work around margins could be squeezed?

[stutes] 20/11/2023 09:36

K annual report shows committed debt of £569.4m , net debt of £232.1m.
I appreciate cash is included in reduction to arrive at net debt, however, a good proportion of the cash is earmarked for suppliers/subbies.
I have asked this question before - why is it K needs to borrow £569.9m when trade creditors should, in the main, be paid once cash is received from clients? Working capital appears to be funded more from banking facilities rather than shareholder funds.
I remain of the opinion K needs to pay down debt by retaining profit and if necessary to tap the market for cash to rebalance the source(s) of the working capital.

[stutes] 19/11/2023 12:55

You just wite tosh. Just read the report.

[stutes] 17/11/2023 13:15

Goodwill in K's accounts exceeds market cap on LSE. If it needs to be adjusted it could affect any dividend payout. K have warned shareholders as to the volatility associated to £500m+ of the goodwill.

If you think otherwise read Bandit Capitalism Carillion,,,,.

[stutes] 17/11/2023 12:31

I take it you didn't read the warning from K on goodwill?

[itisonlymoney] 17/11/2023 11:56

Read this and stop your stupidity:

Trading

The current financial year, FY24, has started well and the Group is trading above the prior period, and in line with the Board's expectations. Similar to the prior year, the Group's performance is expected to be second-half weighted. Given the resilience in trading, orderbook security and ongoing strengthening of the balance sheet we remain on track to resume dividend payments in FY24, commencing with an interim dividend.

Business integration

On 4 September we acquired substantially all of the rail assets of Buckingham Group Contracting Limited from administration including its HS2 contract supplying Kier's HS2 joint venture, EKFB, and it is now largely integrated into the Group's Transportation business. We are pleased with the performance delivered to date and are encouraged with the early opportunities now arising.

Order book

At the end of October, the order book stood at c.GBP10.5bn (30 June 2023: GBP10.1bn) and 91% of FY24 Group revenue is now estimated to be secured, up from 85% in July, providing a high degree of certainty for the Group. Long-term framework positions are excluded from the order book and represent an additional opportunity. The Group continues to maximise value and opportunities with strong momentum in its bidding activity. Our high quality and profitable order book continues to reflect the bidding discipline and risk management embedded across the business. We remain focused on winning profitable work through our longstanding client relationships and regionally based operations.

Recent awards include:

-- Infrastructure Services, Transportation:
o Awarded a GBP225m contract with Somerset Council to deliver core maintenance services across its road network for the next 8 years; and

o Announced as preferred bidder for the GBP1bn Birmingham highways maintenance and management PFI contract until June 2035.

-- Construction:
o Appointed to provide construction services for the next 4 years to the GBP8bn Procure Partnerships Framework; appointed to deliver GBP61m expansion of NETPark Premier Science Park in Sedgefield; appointed by the Department for Education (DfE) to deliver the net zero carbon in operation Oak Academy in Bournemouth.

Net cash / debt

Kier has maintained focus on operational delivery and cash management, and the Group continues to de-leverage in-line with our expectations of a significant period-on-period improvement. The Group anticipates the usual seasonal working capital outflow during the first half of FY24 which will then reverse in the second half.

Andrew Davies, Chief Executive of Kier, commented:

"The current financial year has started well and, despite the ongoing inflationary pressure and supply chain challenges, it is especially pleasing that we are trading above the corresponding period last year, and in line with our expectations. We remain well positioned to continue benefiting from UK Government infrastructure spending commitments and we remain focused on the delivery of a sustainable net cash position with capacity to invest, in line with our medium-term value creation plan."

[stutes] 17/11/2023 07:20

Just read the warning from K on goodwill and stop your silly ramblings.

[itisonlymoney] 17/11/2023 01:41

a video for stutes so that he can finally learn something about kier.

[itisonlymoney] 17/11/2023 01:33

here are my questions that you seem incapable of answering.

address these points.
1. youve been posting disparaging remarks about kier since the shares crashed four years ago but the company has recovered. you said it wouldn't. Admit that you're wrong.
2. you don't do actual "research" despite your claims. have you read kiers accounts, read an investor presentation or listened to an investor briefing from kier management? judging from the complete absence of intelligent or relevant comment, it looks to me that the answer is no. admit that you know nothing about kier the company.
3. this site is for investors. obviously you are not a kier investor. if you are short you are losing a ton of money because the shares have more than doubled over the last year. what are you doing here? since you appear to be neither long or short, you are evidently just pontificating here everyday because you are a lonely attention seeker.

stop waffling. admit you're a doom-mongering prat.

[itisonlymoney] 17/11/2023 01:31

funny how you say youre concerned. youre not really concerned, are you? because youve been doom mongering about kier for years.

the facts from kier show it continues to do well. order book has grown not shrunk. continuing deleveraging. debt is going down. more projects are confirmed. 85% last yr, but 91% confirmed now. on track to pay a dividend. if you did a little research, you'd know that kesterton has said that the move to paying a dividend would only be announced when kier had clear sight of sustainable profits. if you did some research, you'd know that kier has committed to paying 30% of profits in dividend. if you did some research you'd know that kier is announcing the interim dividend in january. if you looked at a calendar you'd know that january is the month after next. if you did some research you'd know how kier's goodwill is calculated but because you dont even bother to read the annual report you have no idea.

now how about answering my three questions for you.

[gp1948] 16/11/2023 16:23

bb2 - dividend forecast for year to June 2024 is 5p according to market screener, which amounts to a yield of 4.8%

[stutes] 16/11/2023 13:12

Update promising but recovery is ongoing.

The concern I have is how City will treat K share in medium term. Look at how Hotel Chocolat is worth x but 24hrs later is up 160% on Mars takeover of HC. Any concerns and the benefit of doubt favours the City.
K's biggest client is HMG - we see LAs in financial distress; projects delayed for budgetary reasons; HS2× canned. How will City treat the share price if HMG forces prices down and its affect on K's goodwill calculation?

The City will also look at how banks treat construction firms.