Lamprell Share Discussion Threads

[owenski] 19/3/2015 08:53

srpactive

the extract that interests me and informs my opinion as to whether I buy was the part I quoted, the opinion I gave was just my opinion, nothing more.

The 'Robust balance sheet' element is immaterial to an extent as is the future prospects of the business I'm looking at.

'Margins under pressure and inevitable slowdown' are key phrases.

i'm surprised the share price is up, but folks see things differently I guess

Regards

[lagib] 19/3/2015 08:49

Am I missing something or do those results put the PE at about 4.5

[addison17] 19/3/2015 08:37

Results seem to have gone down well, up 14% in early trading.

[srpactive] 19/3/2015 08:06

Owenski

Here is all the extract.

Lamprell entered 2015 in a position of relative strength with a robust balance sheet and a strong cash position, with a high proportion of this year's revenue secured and a good bid pipeline. The sharp market deterioration at the end of the year has brought significant uncertainty around 2015. Our business has a certain degree of flexibility built in and we will look to mitigate the impact on Lamprell but pressure on margins and the inevitable slowdown is likely to affect everyone.

[trident5] 19/3/2015 07:44

Can anyone explain the chairman buying in the run up to the results - I thought it was the close period.

[owenski] 19/3/2015 07:11

Outlook sounds dire at present, don't know whether these are 'cheap' but dont see a catalyst to drive the share price higher and no div underpinning either.

"The sharp market deterioration at the end of the year has brought significant uncertainty around 2015. Our business has a certain degree of flexibility built in and we will look to mitigate the impact on Lamprell but pressure on margins and the inevitable slowdown is likely to affect everyone".

[skinny] 19/3/2015 07:04

Highlights

Exceptional financial results
· Excellent financial results driven by robust operational performance, favourable phasing of project cycles and supported by early savings from productivity improvements
· Revenues broadly flat against FY 2013 as expected
· Record profit levels for 2014, only two years after the challenges of 2012
· Rights issue and refinancing successfully completed, putting the Company in a position of relative strength during current period of industry and market weakness

Strong operational performance and project execution
· Delivered nine major projects in a single year, a record for the Group
· Delivery of three further jackup rigs to largest client, National Drilling Company, strengthening client relationship and leading to additional jackup orders in November 2014
· Record-breaking 13,200 tonne production utilities and quarters deck delivered to Nexen with ten million manhours completed without a day away from work case
· Orders for six new build jackup rigs won during 2014 with top tier clients
· Backlog of US$ 1.2 billion at year-end (31 December 2013: US$ 0.9 billion) with bid pipeline at approximately US$ 5.2 billion at 31 December 2014 (31 December 2013: US$ 4.7 billion)

Delivering on our strategic objectives
· World-class safety performance, achieving highest safety standards in Company's history
· Leveraging our key strengths to diversify client base with major awards from new top tier clients
· Project Evolution progressing well with initial savings realised
· Organisational restructuring implemented generating overhead reductions
· Maintaining our focus on core markets, with long-term goal of broadening addressable markets
· Disposal of a non-core service business completed with a second nearing completion

Current trading and outlook
· Oil price decline has led to falling oil & gas and renewable energy capex
· Focus remains on conversion of bid pipeline, with awards for some projects delayed
· Six new build jackup rig orders, a large piperack module project and a number of minor refurbishment projects currently underway and progressing well
· Options for additional rigs from Ensco and NDC extended to Q4 2015 and Q2 2015 respectively
· Adjusted revenue coverage at approximately 80% for the year, affirming earlier guidance for 2015

[trident5] 18/3/2015 18:10

Isn't the chairman buying in the close period?
Am I missing something here?

[plunger2] 05/3/2015 07:57

Chairman seems happy to keep buying at 106p anyway.

Looks a good sign to me.

JMHO

[plunger2] 03/3/2015 08:41

Somebody creating an overhang here.
The price is v disappointing v PFC. Of course we have heard nothing for a long time now and there will have been some overhead retrenchment which can lead to selling.
We're nearly back to where the management were buying before - yet the POO is in much better shape.
Results due in just over 2 weeks - so patience is required.

JMHO

[plunger2] 25/2/2015 14:32

Getting upstaged by PFC today. BUT if you read the PFC detail the read across for LAM should be good.
I guess the silence from LAM HQ (quite normal btw) is doing them no favours. Volumes are pathetic in any event.

JMHO

[srpactive] 24/2/2015 14:38

Nicely above the 50dma.

[srpactive] 24/2/2015 13:51

I think once or if the oilers are helped in the budget (18 March )
this will move swiftly higher.

The 'in the know' will be buying now, hence the nonsense from the
mm's helping their friends.

dyor

[srpactive] 24/2/2015 08:22

A little more from the mail this time, the first from the ft.

The North Sea oil industry is hoping a new investment allowance and tax cut – expected to be introduced in the Budget next month – will help it survive the continued weak oil price.

dyor

[srpactive] 24/2/2015 08:18

This is positive for the oil price.

Members of Opec have discussed holding an emergency meeting if crude continues to slide, according to Nigeria’s oil minister, in a sign of their growing alarm over the impact of a lower oil price on their economies.

dyor

regards

active

[srpactive] 23/2/2015 15:17

Yes cosalt another, and do not forget jarvis.

[themoocha] 23/2/2015 14:26

SRP - If you want some real meat for ITV to get their teeth into regarding the City then they need look no further than Hibu, previously Yell.

The number of big cheeses and City firms involved makes for very interesting and uncomfortable reading on a scale that will make most small PI's stuff their hard earned coin somewhere else.

Good luck.

TM

[harry the haddock] 20/2/2015 10:30

I am a shareholder of itv and on a few occasions
I have spoken to them about content and ideas for
programmes, the last time I spoke with them
I mentioned would they produce a documentary on the
city goings on, the impression I got was positive.


Cool story bro, just needs some dragons.......

[srpactive] 20/2/2015 10:14

They are playing around with the bid to prevent
the rise occurring again.

[srpactive] 20/2/2015 09:51

I am a shareholder of itv and on a few occasions
I have spoken to them about content and ideas for
programmes, the last time I spoke with them
I mentioned would they produce a documentary on the
city goings on, the impression I got was positive.

[srpactive] 20/2/2015 09:17

I am not very clever neither are these mm's it
would appear, please can someone far more clever
than me (which is no great feat ) tell me
what the mid price of 116.25 - 117.25p is?

[srpactive] 20/2/2015 08:26

Most small companies are controlled, look at hgm for one.

[aimingupward2] 20/2/2015 08:22

Can someone who is sure please clarify this for me as I am uncertain:

When an institution wishes, for their own purposes, to prevent a share price from rising, is all they have to do is put in a huge sell order at just above the then current offer price? The price will then not move up to trigger a huge sale because their is no corresponding buyer. Smaller buyers will see a preponderance of buys having no effect on the share price and others will be deterred, preferring to wait to join in only when they can see the share price moving up.

If news comes out which triggers a lot of buying, such that the institution fears their bluff might be called, all they have to do is withdraw the sell order and enter a new one a little higher, thus keeping a damper in place. It would call for very close, continuous monitoring, but presumably worth it, they reckon.

Is this how it works? They just keep on doing this, ad nausiem, while they slowly buy back to unwind their position. Other institutions, or the company itself, are not going to do the opposite and put in a buy order above the offer price because that certainly would be accepted and they'd have paid more than they needed to.

So shorters rule the game, or at least have things weighted in their favour, until either they're overwhelmed by sudden very heavy buying or their short position is fully unwound. Is that the case? I hope not, but I fear so.

I don't have level 2 to follow what actually happens so, to repeat, can anyone comment and throw further light on this, please?

[srpactive] 19/2/2015 16:55

So the mm's crush the rise, are you letting your friends buy
on cheap city boys.

[srpactive] 19/2/2015 11:04

Lamprell looking stronger on the chart, last night we closed
slightly higher than the 50dma which is a positive.

A good close today and we could be heading alot higher as
the next target being the 100dma is at 130p.

Fingers crossed.

dyor

regards

active