MAY Gurney Share Discussion Threads

[trundler] 29/7/2008 09:32

Is anybody else struggling to get paid by May Gurney? We seem to have gone out to 3 month payment terms at best and sometimes worse. What is their cash position like?

[ssords] 03/6/2008 14:37

Has positive cash flow, tremendous order book, interests in 2012 Olympic site construction work. I bought on initial flotation, then further buy when recent fall in sympathy general market collapse. This seems to me a very sound company that knows where it it is going - forward. A share to accumulate when the opportunity arises.

[tole] 03/6/2008 08:28

Better set of results than anticipated imv. Altium increases EPS estimates 2.9% and 6.8% for the coming two years. (2009e to 21.5p and 2010e to 23.7p) Net cash £21m looks good. Their target rice rises to 343p (from 335p) and reiterates BUY recommendation

[kenmill] 03/6/2008 07:49

good set of results and very positive forward statement - should underpin the price in this market

[etarip] 04/4/2008 13:55

Investor Chronicle 4 April 2008

While May Gurney has been hit by general credit crunch related fears, its end-markets look defensive, and at 267p, priced at 13 times Altium's forecast 2009 EPS of 20.9p, the shares remain a buy. (Buy, 250p, 13 Oct 2006).

[etarip] 02/4/2008 09:27

02.04.08 David Sterry, Chief Executive, commented:

'Our continued focus on long-term customer relationships as the driver for our
earnings growth, coupled with our prudent acquisition policy continues to
deliver strong and consistent results. The excellent visibility of our £1
billion plus order book, clear opportunities in our chosen markets, successful
acquisitions and strong cash position maintain our confidence in our prospects
for the future.'

There is no reason that I can see for this share to go down other than general market sentiment.

Can anyone else express a view?

[palwing] 18/3/2008 17:25

Any ideas why this is going down?

[doc robinson] 29/2/2008 21:23

recent volume directors selling shares placed with various institutions.Results should be in line with expectations.

[etarip] 29/2/2008 11:15

Investors Chronicle:

This latest deal confirms May Gurney's continuing ability to win quality business. Its shares are flat on our recommendation (Buy, 250p, 13 Oct 2006) but remain a buy at 252p.

[charterhouse3] 28/2/2008 15:54

Simon,

I'll certainly have a look.

CH3

[simon gordon] 28/2/2008 15:53

CH3,

You should take a look at SWG as it is probably right up your street!

Simon

[simon gordon] 28/2/2008 14:24

Cheers - I'll look at AI. as to IND I don't like the very wide spread.

All the best!

[sheik yerbouti] 28/2/2008 14:24

I wonder what those big trades are at 251p? Placing?

[charterhouse3] 28/2/2008 14:22

Greetings Simon,

Hope you are well.

I was fortunate enough to make some healthy gains trading RBS over the last month and decided to divert some of these funds to small caps that look to have been hammered too much during the market turmoil.

Aero Inventory (AI.) was purchased last week.
May Gurney was purchased this morning having offloaded some RBS at 419.5p !!

There is the possibility of IndigoVision (IND) getting a wider audience after the results due shortly.

I thin AI. and IND are worth your further investigation.

CH3

[simon gordon] 28/2/2008 14:01

Hi CH3,

I hope you are well!

I have been looking at MAYG again these past few days.

Balance sheet is solid and continued 'low growth' looks assured.

I am experiencing an aversion in buying UK centric businesses right now. There are plenty of good value UK Small Caps around but I just can't pull the trigger.

I am focusing heavily on Oil Services and in particluar KENZ.

Do you have any ideas for a Small Cap that is not uber UK centric for top-line growth?

[charterhouse3] 28/2/2008 10:20

The Company was first brought to my attention by the Sunday Telegraph write up in December (and as posted above).

The market turmoil of the last couple of months has now thrown up the opportunity to get the shares at a very reasonable price.

Results are due to be announced at the end of March so, on a 6 week view, these could prove to be cracking trade.

CH3

[etarip] 27/2/2008 08:14

LONDON (Thomson Financial) - May Gurney Integrated Services PLC, a support and construction services company, said it has won a two-year property maintenance contract from Network Rail worth about 20 mln stg a year, replacing its current long-term property maintenance framework.

The company said the contract, covering the London and North East region, has a potential for a three-year extension.

May Gurney also said trading continues to be in line with its expectations, and that it has maintained its forward order, including framework contracts, at over 1 bln stg.

[simon gordon] 09/12/2007 14:16

From the Sunday Telegraph:

'Since Questor last tipped May Gurney in June at 296p a share, the support and construction services group has climbed to as high as 345p, only to give back most of these gains.

This week's strong interim results, however, should really get the momentum going again. The £220m business, which focuses on providing maintenance and services to the highways, utilities, rail and general infrastructure markets, posted a rise in pre-tax profits from £6.8m to £8.1m. Revenue also improved from £199.6m to £215m.

This company is firmly on track to achieve its full-year estimates and is set to continue to be a highly acquisitive business, especially as all its recent bolt-on acquisitions are proceeding well.

It has just announced plans to buy the trade and assets of the Southern Household Waste Centre recycling business from Environmental Waste Controls, its existing joint venture partner. It is paying £3.2m and taking on £1.7m of debt - and the acquisition has been viewed positively as a transaction that will give May Gurney more defensive characteristics than its peers - something precious in these unsettled stock markets.

Its core commercial markets show an acceleration in expenditure, with county councils having an annual spend of £1.1bn on highways maintenance and the Highways Agency having a £2.2bn expenditure programme in 2007/8.

May Gurney should benefit from regulatory changes encouraging UK waste to be treated, and higher landfill levies should provide further incentive for local councils to recycle. It also works on flood protection programmes for the Environmental Agency so should hopefully pick up business following this summer's unprecedented flooding, and provides services for UK water companies.

Since it floated on Aim in June 2006 at 186p, May Gurney has performed well. Businesses on the junior market have tended to be sold off quite heavily during the recent market turmoil, as they are deemed younger and more risky investments.

Therefore, it has done well to stay at these levels despite investors choosing to shun Aim shares. The group has a small interim dividend, but it has decided to lift it, proving there is no reason to think the company will not be able to continue outperforming other Aim stocks.

The shares are trading at around 17 times 2008 estimates, but housebroker Altium Securities has given it a 370p price target and thinks there is still scope for a re-rating. Buy.'

[palwing] 04/12/2007 08:23

EXCELLENT interim results from a forward looking company.

[etarip] 03/11/2007 08:59

Investors Chronicle 02.11.07 page 23 featured as a BUY

[ssords] 08/10/2007 16:31

SsordAm confused.
Bought into May Gurney a few months ago when they went public. The May Gurney that I know (and love) are heavy construction with major contracts incl I believe with Network rail, 2012 Olympics and Coastal defence. I did not know of this other aspect.

[palwing] 02/10/2007 08:32

Lookin gooooood!

[palwing] 02/8/2007 15:38

DOH!!! Not again???

[palwing] 08/7/2007 17:52

Cheers Kenmill1..shame it wasn't a buy though.