Nth.Mid.Cons Share Discussion Threads

[edmundshaw] 18/11/2004 14:56

...so added. Expect full year divi of 6p, 4.14% so equal to building soc interest based on better tax regime.

Forward PE looks around 7 to 7.5 which is almost impossible to find now for growing companies. And already assured for the full year, with the economy in fine shape.

However, I've reached my limit on this one, purely on the basis of the %age of the company I'm prepared to own and the liquidity (especially with only one MM and a 7p spread).

[edmundshaw] 17/11/2004 10:19

If this falls any further, I think I'll be adding again. No good reason I can see...

[edmundshaw] 22/9/2004 10:52

I wonder if the complexity will yield better margins?

Severfield-Rowen stonking results yesterday :-) looks like construction is on the up, which should benefit NMC too.

Speaking of yields, ex div today hence 2p drop. Looking at a decent yield of about 4% (assuming 4p final div).

[aderemi] 16/9/2004 21:05

£15m of water works for NMC
this story published on August 24 2004

Huthwaite-based civil engineering and building specialist North Midland Construction (NMC) has been awarded a series of contracts by Severn Trent Water with a combined value of over £15m, following £9m of contracts already won earlier this year.

The largest of these is a term contract for repairs and maintenance works in Derbyshire, Nottinghamshire, Leicestershire and Warwickshire, worth £2m. The second largest is at Tenbury Wells in Worcestershire for a sewage works extension worth £1.6m.

"We are handling an increasing number of contracts for Severn Trent Water, many of which are for combined civil engineering and mechanical and engineering works," said Mark Blakeway, executive director (civils) at NMC.

"These contracts provide many civil engineering challenges, so our project management and civil and mechanical engineering expertise are proving invaluable. We are confident that their successful completion will lead to more work of this nature."

[edmundshaw] 16/9/2004 16:39

Hah! Managed to get some more at 150p, that plus a few at 142p a few weeks back and I'm fully loaded with this one now :-)

Always risk with this kind of business, but a lot of risk built into the price, and already full year targets met and ongoing long term business setting up the next couple of years quite well.

Thanks again aderemi.

E.

[edmundshaw] 16/9/2004 16:00

Thanks aderemi, missed that mid-pm RNS.

Nice divi hike of 33%. Yum!

Pretty much what we were led to expect from the last update. Holding tight to my shares.

E.

[aderemi] 16/9/2004 15:40

North Midland Construction PLC
16 September 2004

NORTH MIDLAND CONSTRUCTION PLC
2004 INTERIM RESULTS


North Midland Construction PLC ('the Company') the UK provider of civil
engineering, building, mechanical and electrical services to public and private
organisations, announces interim results for the six months ended 30 June 2004.

Highlights from the results and the Chairman's Statement:-

Six Months Ended Six Months Ended
30 June 2004 30 June 2003
£'000 £'000

Turnover 46,942 39,857

Profit before Tax 1,528 1,258

Net Profit after Tax 1,069 881

Earnings per Share 10.17p 8.17p

Dividends 2.0p 1.5p

• Record half year in terms of Turnover and Profitability.

• All aspects of the Group trading profitably.

• Significant Term Contracts secured with ntl, Kingston
Communications and Marconi.

• Secured workload at record levels.

• Interim dividend of 2.0p (2003 : 1.5p).

[santangello] 01/9/2004 23:03

Thought it may have been you.............
Done well at that price.

Guess all genuine holders owe you a word of thanx, resuming the uptrend lol
I will try and move it tommorrow.

[jeff h] 01/9/2004 16:08

That's cos I been buying today...all below £1.55
though

[santangello] 01/9/2004 15:12

getting more expensive Jeff.........

[jeff h] 01/9/2004 09:36

Costain AMP4 news:-

[jeff h] 31/8/2004 19:23

Exactly Santa...though the MM will fleece buyers before
the figures are out

[santangello] 31/8/2004 15:27

Interesting stats Jeff.
So the MMs are being greedy.....nothing new there.

Sounds as if they only want punters to buy at a higher marked price once the figures are out.
Looks more positive than negative to me, pretty shabby though if you are trying to add old boy !

[jeff h] 31/8/2004 14:30

The MM has basically shut up shop if you want to buy this stock.

Last week you could get 2500 at the Offer, now you can't even
get 500 electronically.

I was quoted 155p to Buy earlier on....no way jose.

I read somewhere Costain have won a couple of big contracts from
the water companies, wouldn't know if NMD was also in the bidding.

[aderemi] 31/8/2004 13:21

I spoke too soon and up it goes. Maybe I should I have kept quiet till funds came through.

The interims is due anytime now.

[santangello] 31/8/2004 13:03

...cream always comes to the top.

[aderemi] 31/8/2004 12:22

well down 10% today. back to the level before the news of the contract with Marconi.

[edmundshaw] 03/8/2004 16:49

That's how I read it MTG, but my guess would be for maybe £22m (just a guess though). The £20m is I believe a minimum. So there's the next 10% of turnover!

[m.t.glass] 03/8/2004 16:12

Yep. One for holders. Price sure to get reeled back a little to snare those going for quick trades.

So if the first year's £20m of Marconi work incorporates part of what was already booked, that part will already have been included in the 70% figure. The new work ups that by £8m per year during whatever overlap, and replaces £12m pa with £20m pa in years that run beyond the older deal.

[edmundshaw] 03/8/2004 16:05

Picked up some local comment from a director. Not sure I care too much about the press view!

If you look at the web site, you will see there is an existing £48m 4 year contract with Marconi. This deal extends it to at least £20m pa (I undersood this to be a minimum), due to an extension of the contract area to, for example, Norfolk, Suffolk. As the AGM said 70% of the years turnover was in the bag and profits were looking 10% ahead on similar T/O, I asked about capacity utilization. Thje new contract will obviously use up quite a bit, so again my impression is they will be expecting to expand capacity so they can take on more work. Ergo, higher turnover and higher margins look to be likely.

Given the historic EPS of 18.3p for NMD last 2 years and expected growth this, things look pretty good, I'm estimating comfortably over 20p EPS for this year, making the current price a bargain and the PE currently around 7, presumably down to the one-off weak 2002 results of 12p EPS. Well worth having another look at the AGM statement IMO. It was generally bullish but mentioned concern over the telecomms sector. That was then!!! Not too many problems there now I guess :-)

The AMP 4 selection process coming up in the next month is key, and this should give us a much fuller picture...

I remain a pretty happy holder here - since well before this thread was started.

[m.t.glass] 03/8/2004 14:11

Anyone picked up any local media comment in Mansfield?

[santangello] 03/8/2004 13:31

...more like it, good momentum, with probably more good press to follow.

[m.t.glass] 03/8/2004 12:38

Looks pretty good to me, Sant..

[santangello] 03/8/2004 11:36

.....only just an all time high, and that was only in June 2004.
I am disappointed with the reaction to the news to be honest.
I would have expected the news to have been absorbed very quickly by the shrewd and not so shrewd investor. This is a cracking deal in principal.
With only 1 MM and stock being so closely held, the movement from yesterday is not that inspiring to me.

[m.t.glass] 03/8/2004 10:23

Breaking to new all-time high..
(intraday charts used in headers are not always correct)