Kier Share Discussion Threads

[minerve 2] 11/3/2019 13:09

I have to agree. He doesn't cut the mustard.

[zicopele] 11/3/2019 13:05

He has to go....it is incompetent at best.

He was too busy giving interviews about shorts unwinding with Brexit.

Close the door on the way out mate and have a beer with Haydn

[minerve 2] 11/3/2019 12:32

Good for you.

Stiefel, Courtesy of FT markets live.


Revision of net debt position. The group has revised its net debt position as at 31 December 2018 to £180.5m (from c.£130m). Its average net month-end net debt for the six months to 31 December 2018 has been re-calculated as c.£430m (from c.£370m). In the course of preparing its FY19E interim results, the company identifies a number of adjustments (c.£10.3m) primarily in relation to hedging activities. The group has also revised the classification of debt (c.£40.2m) associated with certain Development assets held for resale at 31 December 2018. Kier originally consolidated this debt balance within assets held for sale, following re-classification the debt has been included within the group's net debt position. This £40.2m net debt will unwind as the development assets are sold, with the majority expected to be disposed of by 30 June 2019.

[blueball] 11/3/2019 12:23

240p is my target.

[gettingrichslow] 11/3/2019 12:02

Aren't Peel Hunt the house broker??!

[zicopele] 11/3/2019 11:51

I wonder when they will make provision for the disaster of Liverpool Gateway

[minerve 2] 11/3/2019 11:42

Peel Hunt, Courtesy FT Markets Live:

H1 update, n/c underlying FY 19 earnings and cash
Kier has provided an update ahead of its interims on 20 March.
Although underlying FY19 expectations are unchanged, two
items have been noted. First, as a consequence of hedging/other
adjustments (£10m) and debt classification within assets held for
resale (£40m), H1 net debt is now expected to be £180.5m vs
previous guidance of c£130m. However, given there is no change
to expected disposal proceeds or timings, there is no change to
FY19 net cash assumptions (PHe £19m). Second, a £25m nonunderlying contract provision re cash recoveries will be taken re
the Broadmoor project. Although largely completed and
management is confident in its position, an adjustment will be
made in the H1 results. We make no change to our cash,
dividend and underlying earnings expectations (94.3p) based on
PBT of £150m (cons £149.4m). Shares trading on 5.3x Jun’19
and 7.6% FY20 yield. We continue to see value.




Peel Hunt TP ➡️ £9.00 ⬅️

[minerve 2] 11/3/2019 11:39

Added to my SIPP.

[gettingrichslow] 11/3/2019 11:05

This is un-investable. More bad news will almost certainly follow.

[kemche] 11/3/2019 10:19

Easy mistake to net off debt vs assets held for resale.

WTF?

Honest as the day is long guv.

[catscats] 11/3/2019 10:10

should bounce but would be wary that Woodford becomes a forced seller - if he sees more redemptions. lots of bad press on him over the weekend.

[danny baker] 11/3/2019 10:01

5,000 bought at 410p. I'll buy more below that level if I can. After the big investors have spoken to the company I expect a bounce to 450p and then I'll say my goodbyes.

[zicopele] 11/3/2019 09:27

One would think that a Board comprising of accountants should be able to calculate average net debt.

Finance Director will be gone within a few months.....maybe sooner

[scooper72] 11/3/2019 09:20

Thanks. Missed that. So net debt miscalculated. Fair enough.

[tsmith2] 11/3/2019 09:11

Read the RNS

[scooper72] 11/3/2019 09:07

Anyone got thoughts on the sudden drop? Is it just people taking profit on last month? To be fair I did that on Friday with a few things

[danny baker] 11/3/2019 08:08

Rock star it's worth keeping an eye on for a trade if they hit £4 as Woodford will probably be adding to his position.

[rock star] 11/3/2019 07:53

Humm. Back towards 400p it goes I should think.

[wattene] 05/3/2019 11:59

Government Petition to Ban shorting of London AIM stocks.

The AIM stock market is where smaller companies list their shares rather than using the prohibitively expensive main London Stock Market. This is an important market for the growth of smaller UK companies.

In challenging times, shorters seek to borrow the company's shares from a holder for a consideration and to buy them at a later date. They immediately sell these shares which, due to the relative illiquid market, sends the price much lower and hence the shorters can buy them at that lower price - pocketing the difference. The only beneficiaries are the shorters and the market makers with the losers being the reputable company and it's bona fide investors.

[eriktherock] 05/2/2019 21:55

Some pending key appointments will impact the share price more than the fundamental outlook.

[elpirata] 05/2/2019 20:04

05 FEB 2019|JAMES BUCKLEY
Construction activity hits record highs across UK regional cities
Levels of construction across Belfast, Birmingham, Leeds and Manchester have all increased

Construction activity has hit record highs across the UK’s regional cities, according to Deloitte’s latest crane surveys.

What Brexit? Developers' confidence running high as construction levels surge

The Deloitte Real Estate Crane Survey series monitors construction activity in Belfast, Birmingham, Leeds and Manchester as well as Dublin. In 2018 each city saw a sustained or increased level of development across a range of sectors including offices, residential, hotels, retail, education and student housing.

Belfast

The Northern Irish capital has 34 schemes under construction in the city centre – with 21 schemes completed in 2018 and nine set for completion this year. Work began on over 400,000 sq ft of new grade A office space last year, in line with the Belfast Agenda target of 1.5m sq ft of new space by 2021.

Birmingham

The West Midlands city saw 23 new starts, with residential taking the lions share. Thirteen new schemes began, bringing the development pipeline to over 5,000 units under construction. Last year also saw the delivery of the most residential units to the city centre, the highest since the Birmingham crane surveys started in 2002. New office development is down from a peak of seven new starts in 2016, to just two new schemes today. However, total office volume under construction remains high at 1.4m sq ft and 2019 is set to be a record-breaking year for office completions.

Leeds

Leeds has recorded the highest level of construction in the city centre since the Leeds crane survey began in 2002, with 21 new construction starts in 2018. This includes seven new office schemes adding to the record 844,986 sq ft office development pipeline. Residential development continued an upward trajectory with three new starts, set to deliver a further 533 units to the city, bringing the total to 2,119 units currently under construction. Five of the developments under construction are ‘build-to-rent’, which will be the city’s first purpose built build-to-rent units.

Manchester

Here, the residential sector drove record levels of development activity. A total of 14,480 residential units are under construction - double that of two years ago. Last year, 2,569 units were delivered to market, the highest level in 12 years and Manchester’s development pipeline suggests 2020 as delivering the most homes in nearly 20 years.

Manchester’s office sector has over two million sq ft of office space under construction across 13 schemes; a remarkable increase on the consistent levels of 1.5m sq ft reported between 2015 and 2017.

Simon Bedford, partner and regional head at Deloitte Real Estate, said: “To have construction figures this healthy is somewhat of a surprise given a myriad of market uncertainties. Developer confidence is a key indicator for economic health and to have this many significant construction starts over the last 12 months, especially in speculative office schemes, is testament to the resilience of the regions and appetite for growth.

“If Manchester had featured in the recently published North American Crane Index, it would have ranked number two - behind Toronto but in front of Seattle, Los Angeles and Chicago. That might have seemed like a remarkable stat a few years ago given Manchester only had one crane in the sky in 2011, but today the figure is a massive 78 sites under construction.

“The marked increase in office construction levels is reflective of the continued draw to all these regional cities for major businesses. Investor confidence is thriving, as the rise in office pre-let deals clearly demonstrates. With creative, media and tech occupiers leading some of the major office deals in 2018, twinned with growing diversity in talent, these are good foundations for regional growth in the years to come.

“Despite record levels now, challenges may arise as we enter the 2020s. Each of our featured cities have ambitious plans which, if they are to emerge, will need to be supported by investment in essential infrastructure which is currently struggling to keep up with the pace of real estate development. The next decade may well be all about transport and smarter city solutions.”

[eriktherock] 04/2/2019 16:32

price action not too shabby, expecting more of the same tomorrow.

[eriktherock] 04/2/2019 15:56

The new guy will bring more value at a lesser cost to the Business. He'll also realize the 2020 Vision. The gap will get filled before then though.

[minerve] 04/2/2019 13:28

No. LOL

Not unless the new guy gets paid less, which I doubt.

[eriktherock] 04/2/2019 13:20

Thanks guys. So getting rid of the CEO was all part of the Future Proofing Kier (FPK) programme then.
That gap fill is 967p btw