|North Midland Construction
||EPS - Basic
||Market Cap (m)
|Construction & Materials
Nth.Mid.Cons Share Discussion Threads
Showing 401 to 425 of 425 messages
|You have to love this stock. Feeling very comfortable to continue holding|
|You will have seen the swings then...hopefully we can get back to those highs again.|
|Been on my radar and in my portfolio since 1996!|
|Still under the radar to a degree but i'm sure there's a few more lurkers|
|just you and me BB! not seemed to attracted too many to this little gem yet! gla|
|Yup, onwards towards a fiver....GLA|
|That's £3 broken, also good to see the incentive awards issued, hopefully a few more when we are at £5 ;))|
|Last time we had a narrow spread we saw the shares climb 👍|
|great, look forward to smashing through £3 then!|
|Banging it's head harder at 300. Trades going through at 299.x with spread now closed to 295-300 the tightest it's been for a long time|
|Can't quite make it through 300 yet. 297.5 to buy in the real world.|
|Some decent buys today - tipped somewhere perhaps. Or maybe one investor picking up several lots during the day.
I think 300 on the offer won't last tomorrow looking at those volumes.|
|Yup, nice to see the tick up. Lots more to come IMO|
|Well we got that £3 today even if it's only on the buy side for now. Really like this co, excellently run imv.|
|I don't really have a scooby what a cyclotron is but it sounds great and hopefully involves a premium margin|
|Might get there today!|
|Closing in on £3...|
|A long long way to go imv...dyor etc|
|Yes I can see nothing but upside, that cash will be put to use I'm sure. I'm guessing we will see another significant jump soon , I hope to add before then.|
|I don't want to get ahead of myself but £8.5m looks do-able and £6.5m would look like the worst possible outcome?
Anyways as far as I can ascertain the all time high for this stock is just over 500 and at that time the profit was £3.1m although had been higher the year before at £5.5m. Dividend at that time was 8.5p
I can be patient and happy to hold for a few years. Anything between £6.5m and £8.5m would see a significant improvement in the cash position as dividends are only £450k a year at the moment and we have brought forward tax losses to mitigate the corporation tax bill. No pension issues so effectively most of that cash will flow directly onto the balance sheet or get paid in dividends.
A couple of years running a profit of that size is going to make this look a very different company. I expect the directors to be cautious over dividend payouts and I applaud that - happy for them to build up a buffer just in case there are troubles ahead.|
|Yes the big legacy problem last year was construction. Telecoms was just useless but they seem to be in gear to improve. If they get it back to break-even then with about 12% bigger order book etc your £8.5m looks possible. It is all pretty woolly but maybe very very cheap here as you say (P/E=4?). Too cheap by miles IMO but low margin contract work so always danger of bits not performing well.|
The wording in the narrative on legacy contracts refers specifically to construction contracts and not to telecommunications, so I go towards the top end of your estimate.|
|So, I've been trying to unravel the results and it suggests the following:
Profit before legacy contract £5.9m and after £2.1m. Contract has been completed so no further costs to complete. Directors suggest the income in books is based on their best estimate of recoverable costs - who knows? Maybe we will have a few more costs or maybe they have kitchen-sinked it.
what I can't entirely figure out is which area of the business the legacy contract is in. The telecomms unit shows a large loss of £2.6m so on the fact of it you'd assume that's were the legacy contract is but the the first half results refer to only £0.036m of legacy contracts in telecomms at the half year. The loss hasn't increased enough in the second half to allow for £3.85m of legacy costs.
So, either NMD can turn £5.9m plus a bit more as things improve = say £6.5m or they can turn £5.9m plus a bit plus start eliminating loss on telecomms
Gives a profit range for next year of say £6.5m- £8.5m
With a market cap of £27m, no pension deficits, cash in the banks plus owning loads of assets in preference to leasing it remains crazy cheap to me.|