Morgan Sindall Share Discussion Threads

[morose] 04/8/2004 16:39

Anyone know when the interims are?
Must be close now.

[tracter boy] 20/7/2004 14:22

ab see also Share price page in Daily Mail today for further encouragement....

[gre] 20/7/2004 14:17

Two pieces of potentially really good news affecting MGNS today.

Firstly, Lovell has been named by Sheffield City Council as one of five preferred partnering contractors for the contract to bring the council's housing stock up to the government's Decent Homes Standard. This could result in work worth up to £200 million over the next seven years according to the company.

Secondly, the Government's initial approval of the Crossrail project could be very significant news for Morgan Est which is "the principal tunnelling contractor in the UK" - both Crossrail lines would involve hugely expensive new tunnels under central London.

The long term prospects for MGNS just get better and better.

[y cymro] 05/7/2004 12:16

LONDON (AFX) - Morgan Sindall PLC said that, overall, the group continues to
trade satisfactorily and in line with its expectations for the current financial
year.
The group said Affordable Housing is performing strongly, reflecting its
market leading position and the Government's commitment to the Decent Homes and
Sustainable Communities programmes.
Tentative signs of recovery at the Fit Out division have continued in
thefirst half of this year and the division has performed in line with
expectations.
Infrastructure Services is trading in line with the prior year, as
anticipated, as work continues on its major projects. At Heathrow T5 tunnelling
has commenced on the Heathrow Express and Piccadilly line extensions and in
Newport the Southern Distributor Road being constructed under PFI nears its July
completion target. In Scotland the group said the 54 mln stg A92 Dundee to
Arbroath road improvements have commenced and are making good progress.
The group's Construction division is realising the benefits from its focus on
the education, health, commercial and industrial sectors. It is anticipated
that this division will return a modest profit for the half year, the group
said.
The group said order intake during the first half has been satisfactory and
the forward order book has reduced slightly to 1.5 bln stg mainly reflecting the
timing of AMP4 and PFI bids where a number of decisions are anticipated in the
second half.
In addition the group said cash generation has been better than anticipated
during the first half.
Executive chairman John Morgan said: "The group has made a positive start to
the year, with each division having a solid first half. Forward order books are
encouraging and current projects are progressing well.
"With signs of sustained or increasing activity across the sectors that our
divisions operate in, we are well positioned for the future."
The board also announced today the appointment of Hoare Govett Ltd as
corporate broker with immediate effect.

[tracter boy] 20/5/2004 22:37

Samuel

Are you still following these; any clues for August numbers?

[tracter boy] 22/4/2004 11:36

iasike, I suspect you are correct; I had spotted the sale bur like pfb5 suprised about delay in price move.
FD retiring I recollect so I have no problem with his sale.
It would be good to hear from Samuel on where we are going in 2004!

[pfb5] 22/4/2004 10:53

But he sold the shares on the 16th - £70,000 worth, perhaps he needed the money to buy a new boat - and the big drop didn't happen until the 21st.

[iasike] 22/4/2004 08:40

Tractor Boy any thing to do with the finance director selling some shares??

[tracter boy] 21/4/2004 09:12

why the drop??

[morose] 17/3/2004 18:57

Budget has helped construction, no extra taxes till after the election, surprise surprise.
This lot are so transparent it's untrue.
MGNS continues its steady upward movement
Hi SAM 1, hope your flourishing, nice to see you holding faith with MGNS.

[goffers1] 16/3/2004 14:23

we seem to be staggering up the hill to Sam 1's £5.50 - £6.00 prediction - I think we can make it but I seem to be delevoping chest pains - could be mild indegestion - but then again it could be terminal.

[superdealer] 15/3/2004 20:09

Looks to be a good defensive stock at the moment (I hope I don't have to edit this tomorrow morning!).

[samuel 1] 04/3/2004 10:45

Starting to build a little momentum - great value here.

Interestingly, institutional buying often comes in after the ex dividend
date(which was 3rd March)when traditionally share prices often fall back
disproportionately for a week or two(even when the story is very positive, as it is with MGNS) and a lot of small selling can be bundled up into decent
buying parcels.

What is very encouraging here is that the share price,other than one small blip down on minimal selling, appears to be strengthening nicely.

Sticking with forecast for re-rating to £5.50 - £6.00

Kind regards

SAMUEL 1

[penpont] 29/2/2004 10:24

From S Tel today:

'You can afford Morgan

Morgan Sindall (430p) specialises in affordable housing and infrastructure services. We tipped the company last February when the shares stood at 217.5p. Our tip has done well. Last week's full-year results showed pre-tax profits up at £24.1m from £18.6m, at the top end of analyst expectations. The company's strategy of chasing high-margin rather than high-volume work is paying off. An upbeat statement accompanying the results led some analysts to revise up their forecasts for earnings for the year ahead. Arbuthnot Securities rates the stock a strong buy. Keep buying'


Updted forecasts are beginning to appear on HS - here's the first, from T%G, tho it looks on the low side to me, esp for the current year:

Teather & Greenwood 24-02-04 HOLD 27.00 44.90 18.00 31.50 51.60 19.60

[samuel 1] 19/2/2004 13:56

gre - agree 100% "market should now sit up and take notice" - and
there WILL be serious institutional follow up this time.

Excellent results with superb outlook for another record breaking
year(which,on top of what MGNS has just delivered, should not
be taken lightly).

Believe that re-rating to £5.50-£6.00 will not take very long.

Bought another 5k today.

Kind regards

SAMUEL 1

[goodgrief] 19/2/2004 09:26

Citywire comment :-

Healthy order books, better market conditions, a strong position in each sector and a good looking balance sheet means it's hard to fault the group today.

The construction sector as a whole is incredibly competitive but we believe Sindall has now put that division on a much stronger footing for sustainable profitability.

The shares soared last year from a low of 177p to 380p and continued the run to over 400p at the beginning of this year. Today they have jumped a further 14p to 430p.

These numbers are at the top end of market expectations which should boost confidence in this year's forecasts which include a profit before tax of £27.5 million, earnings per share of 46.4p and a dividend of 18.1p, giving a rating of 9 times earnings and a net dividend yield of 4% rising to 4.3%.

Good value and worth buying for the long-term.

[40plus] 19/2/2004 09:12

Cracking results - EPS ahead of forecast for Dec 2003 on a normalised basis. I'm happy to hold.

[valhamos] 19/2/2004 08:39

43.78 eps good result. Well received by market.

[gre] 19/2/2004 07:33

Wow!

Record results, record order book, better market conditions, confident outlook. MGNS have certainly put their past troubles well and truly behind them with this performance.

The market should now sit up and take notice!

[tracter boy] 18/2/2004 11:35

I intend to be at the presentation in London at 78 Cannon St tomorrow at 10.00am. Anyone else going?

[gre] 18/2/2004 10:22

It's worth remembering that according to statistics in Contract Journal MGNS won conventional contracts worth £904.13m in the 12 months ended 31st December 2003. The order book should therefore now be at record levels and the prospects for 2004 should be very encouraging indeed.

Let's hope that we get some decent broker upgrades after the results come out tomorrow morning.

[penpont] 16/2/2004 19:20

Just having a look at the thread again prior to results this week. Stephen Rawlison of Arbuthnot is obviously keen and is quoted in Guardian and Mail with his recent strong buy rec. Arbuthnot's figs below are much the best of the current crop of estimates on HS, esp for 04, and would give eps growth of 23% for 03/4, forward PE of 8.6 and PEG of 0.38.

Would have thought growth like this should attract rating of 10-12 so would agree price of £5/6 perhaps poss on 12 month view.

Divi loking ahead would also be 4.3% - not so easy to find anymore esp in a good growth company.

It will be very interesting to see the numbers for 05, which should start appearing shortly after results.

I'll be watching these closely - had thought they were fully valued on the consensus forecast but could be proved wrong if the higher figs are correct.

Arbuthnot forecasts for 03/4

Arbuthnot Securities 04-02-04 SBUY 23.90 39.10 16.40 29.50 48.30 18.10

[samuel 1] 16/2/2004 18:42

bluefish - No! But feel free to ask again in a month or so when the
share price is in the 550p-600p region. My interest is in eps and
pe ratios at the moment - and it is those valuation criteria which
will imo take MGNS much further forward.

Kind regards

SAMUEL 1