Morgan Sindall Share Discussion Threads

[alter ego] 09/8/2007 11:34

on offer at a cracking price too - couldn't resist a big helping

[kenmill1] 09/8/2007 09:40

Another good contract win in affordable housing

[kenmill1] 06/8/2007 09:57

Good, solid results with a positive forward statement. plenty to hang on for.

[penpont] 06/8/2007 09:57

Good results again and encouraging 25% rise in divi - bodes well for the future.

[alter ego] 26/7/2007 14:59

not for the first time. up and down like a tarts knickers

[kenmill1] 26/7/2007 13:08

Bit of overkill in a falling market today on very little volume

[alter ego] 12/7/2007 12:46

Is everyone waking up to the prospects for MGNS affordable housing arm after yesterdays govt announcements?

[johnrxx99] 09/6/2007 15:52

Tuffbet, is htere any chance you could include some charts by going into edit and ticking the boxes. Many thanks

[alter ego] 05/6/2007 11:08

not sure you're right tuffbet, after all share price has risen more or less in line with earnings upgrade - that seems reasonable to me.

[tuffbet] 05/6/2007 09:57

positive reaction seems overdone to me short term but nothing to complain about - sometimes downside reaction to a little negative news also gets overdone - that's the markets for you.

on the subject of the market I don't like it at all at the moment it looks way overvalued. Have decided to exit most stocks until things settle down again but that could be months or years if my gut feeling is right

[penpont] 05/6/2007 08:42

Report in today's Times says 08 eps have been upgraded by 15%:

[penpont] 04/6/2007 12:38

I imagine the analysts may have crunched some numbers following the meeting this am - will be interested to see the upgrades when they appear..... :-))

[tuffbet] 04/6/2007 10:59

Well well up 14% this morning so far - wonder what was said in this mornings presentations - somehow I don't think the individual investor is competing on a level playing field but that's the way it's always been.

[penpont] 04/6/2007 09:45

And 'materially enhancing' next year...

This mornings presentation must have gone down well:

[riskblue] 04/6/2007 09:14

Well the market certainly appears to like the deal. Like you Tuffbet, I have a lot of faith in the management of this business and like the fact the deal is expected to be immediately earnings enhancing before the scale is leveraged.

[tuffbet] 04/6/2007 09:01

This looks like an excellent deal with AMEC which clearly suits them both.

Will take time to determine whether the price paid is reasonable but given that MGNS's management a good record and AMEC were anxious to get rid of these companies in order to push on with their re- shaping I would be surprised if this didn't turn out to be a bit of a steal.

Synergy looks good but more importantly the businesses purchased are operating in sectors which all look to have good growth potential- nice one MGNS

[alter ego] 16/5/2007 11:23

motoring again after a spell in the doldrums

[kenmill1] 05/4/2007 13:31

Another good contract win. This is still a strong hold for some time yet

[tuffbet] 21/2/2007 09:18

As an aside I have found through experience that there is an almost direct relationship between the quality of a company and the number of posters on the ADVFN bulletin boards ie high quality solid earnings,decent dividend etc = low number of posts and vice versa.

[alter ego] 20/2/2007 17:19

tuffbet, you could be right. I have seen this unjustified share price decline before with rapid recovery soon after and wondered if mm's were seeking stock by shaking the tree. I also noticed todays buys and sells were pretty even so the big drop is even harder to justify. Anyone looking to pick up some stock could do a lot worse than buy this week I suspect. I'm sitting tight and pretty happy with the results and the outlook.

[tuffbet] 20/2/2007 16:26

Share sales today vis a vis purchases don't match at all with the movement in the share price - there is almost an even balance so something is afoot

[piedro] 20/2/2007 13:00

This is the part that seemed overdone..........

"Group operating profit increased by 16% to £46.2m (2005: £39.9m). This
improvement was due to strong growth at Affordable Housing and Fit Out with
modest progress also made by Construction, offset by a reduction in operating
profit at Infrastructure Services. Fit Out increased its operating profit by
38% to £22.6m (2005: £16.4m), Affordable Housing by 29% to £24.0m (2005: £18.7m) and Construction by 4% to £3.4m (2005: £3.2m). Infrastructure Services' operating profit reduced slightly to £5.1m (2005: £6.0m)."


".......strong growth at Affordable Housing and Fit Out...."

I would agree with the Fit Out part, but Affordable Housing only increased revenue by 3.6% and the Order Book by 7.7% - the operating profit was then due to increased margins and not ..."strong growth".... IMHO.


"........modest progress also made by Construction......."

The progress was certainly very modest - Revenues +2.1%; Op. Profit +6.3%; Order Book -2.6%


"........Infrastructure Services' operating profit reduced slightly..."

Really, I would have passed over this one as the Op. Profit -15.0% and reduced margins is explained by restructuring, but I feel, as indicated with the Affordable Housing and Construction comments, that the writeup has been overdone and so am not convinced.

Hence,.."Results......... do not seem to be quite as good as they pretend, but not bad either." - AIMHO

Which could be why the Market has reacted so strongly, (profit taking !!!),
but...SOLID results said AFX news in the morning, now changed to POSITIVE results.

[gre] 20/2/2007 12:08

Peidro, I thought that these were another solid set of results from MGNS and I can't understand your comment nor the market's reaction this morning. I always look to see if the operating cash flow exceeds the operating profit to make sure that a company is not being "creative" with their accounts and I certainly have no worries on that score here. The prospects for the year ahead also look promising.

Is there something that I'm missing? Would you care to elaborate?

[piedro] 20/2/2007 10:29

Results......... do not seem to be quite as good as they pretend, but not bad either.

[piedro] 18/2/2007 13:32

jadeticl,

Preliminary Results.....Tuesday 20 Feb.

Not sleeping but very relaxed.
Topped up at £12.07 and took out bets on the way down.