Share Name Share Symbol Market Type Share ISIN Share Description
North Midland Construction LSE:NMD London Ordinary Share GB0006452857 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 420.00p 120 08:00:00
Bid Price Offer Price High Price Low Price Open Price
410.00p 430.00p 420.00p 420.00p 420.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 291.77 1.00 7.31 57.5 42.6

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Date Time Title Posts
14/8/201809:09North Midland Construction775
01/4/201612:02Top Ranking Constructor - Yield 3.64% PER235
25/8/200509:52North Midland3
17/11/200311:42North Midland Construction - strong buy trading on a p/e of 4x for this year39
09/5/200123:11LITTLE GEM-

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Nth.Mid.Cons (NMD) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2018-08-14 14:45:08414.00120496.80O
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Nth.Mid.Cons Daily Update: North Midland Construction is listed in the Construction & Materials sector of the London Stock Exchange with ticker NMD. The last closing price for Nth.Mid.Cons was 420p.
North Midland Construction has a 4 week average price of 335p and a 12 week average price of 325p.
The 1 year high share price is 450p while the 1 year low share price is currently 255p.
There are currently 10,150,000 shares in issue and the average daily traded volume is 15,697 shares. The market capitalisation of North Midland Construction is £42,630,000.
cc2014: Milliecusto. I suggest you read the accounts. not only do they have £18.9m in the bank but they also have £18.1m of property, plant and equipment assets a chunk of which is their offices There are no bank borrowings and no defined pension contribution scheme deficit. To be fair there are £4.5m of finance leases but even these have fallen by £0.5m since year end as the company uses cash to pay these down. (looks to me like new plant is being bought for cash and they are simply running out the finance leases in so far as is possible) there is no smoking gun here. As most of the regulars on the thread will attest it was and still is undervalued. It will remain undervalued for some time through psychology. Most will look at the share price and think they've missed the boat. Some will hope for a retrace. If you have patience you will be rewarded because the company has loads of capital to expand with and room to keep increasing the dividend whilst adding to the cash pile.
jaf111: Certainly hoping that the interims will spark some life here.... AGM statement mid May was pretty upbeat followed by CEO purchase of shares in June making the rather stagnant share price performance rather surprising.......
cc2014: I'm pretty happy now. The share price has returned to a price I find to be, how can I put this "unreasonable low" but at least responding appropriately to the ebb and flow of the market. Someone is buying the dips and it's no longer falling on bad days on FTSE. In fact the buying yesterday on the worst day on FTSE in 2 months showed considerable strength.
cc2014: And another director buy, ,this time by the HR director. One starts to wonder how much of this was lined up beforehand as directors seemed ready to press the button on the day. Or maybe they just couldn't believe the share price like us. One also starts to wonder how many other employees have bought who are not directors and are not obliged to disclose. Anyways doesn't really matter. They all believe the company is going places and I'm happy to see how it pans out.
jaf111: Having been out golfing all afternoon it was a very nice surprise coming back to see the jump in share price.....pump or no pump from ADVFN.....roll on Monday!
cc2014: Whilst incredibly sad for employees and pensioners, CLLN going bust will be good news for the industry and NMD. CLLN have been keeping margins low for years by bidding for projects at stupidly low prices and abusing the supply chain for the last 30 years. The work will instead go to respectable main contractors such as NMD. You can see for example Kier's share price moved up strongly from 12 on Friday and continues to make small gains this morning I do not think NMD has any sizeable exposure to CLLN. Certainly I'm sure Mr Charlton will have asked the question before loading up his wheelbarrow again. NMD did use to work for Carillion Telent (CLLN Joint Venture) , which they terminated the contract as it was losing money. This happened about 2 years ago so it's possible they may still be owed something. Insignificant I'd say and covered by the bad debt provision. I see it as more of an opportunity. Telent (spin off from Marconi if I remember correctly) accounts show they make fantastic profits.
cc2014: Are we bothered bbus? If they are selling now they clearly aren't long term holders with any conviction about the long term story and were going to sell anyway. Nothing we write on here makes any difference anyway apart from maybe occasionally on a short term basis. If it did the share price wouldn't be languishing down here. I thought I'd look at the numbers again to remind myself why I'm holding 5% profit margin target within 5 years. Which is do-able. See this story were Ardmore are at 4% now. Turnover for 2016 = £250m with increase in work this year. I guess within 5 years turnover = £500m which is only 20% a year. Worst case. Don't deliver. 3.5% margin. Turover £400m = profit of £14m Best case. Margin exceeded, Brexit resolved, CLLN go bust, shortage of contractors. 6.0% margin. Turnover £700m = profit of £42m Take you pick. Market cap is £37.5. They have around £10m net cash, no pension deficit, no bank loans and around £2m of financing on plant, machinery and cars. However, on the worst case on a lousy P/E of 7 and ignoring any cash and assets that gives a valuation of around £95m. The best case on a more respectable P/E of 10 and again ignoring cash and assets gives a valuation of £336m Worst case we 3 bag from here and I 8 bag from my entry of 115. Best case. I retire and worry about capital gains tax. What could possibly go wrong?
battlebus2: Good to see the response in share price 👍
cc2014: Hi Junior, I think your numbers are likely to be pretty close. The profit before tax in 2016 was 2.062m and we know they have eliminated the telecomms loss part of £2.591m so that would take the profit to £4.653m if nothing else happens. We also know the companies order book is significantly higher than last year from the article in the Sun and the amount of recruitment they are doing. Hard to know how much margin is in this but competitors in the industry have been reporting improved margins consistently. To be honest though I'm more interested in 2018 and 2019. The construction industry although expanding as evidenced by the PMI data, has been consistently struggling for the last 10 years apart from arguably a good patch of about a year prior to the Brexit vote It's taken a while to pull out of the 2008 recession and government spending has been restrained due the national debt. I believe we are approaching a point where investment is going to accelerate. You can only sweat assets and defer investment so long and it's been going on now for 10 years. Globally things are picking up especially in Europe and in the UK the national debt is becoming let us say "manageable" - certainly low enough that the government will be increasing investment although at what rate and how soon is yet to become clear. In summary, I believe there to be considerable pent up demand awaiting a trigger to get things moving. This could be a resolution to trade with Europe, or it could just be a slow gradual increase in confidence in the economy. Also, as the unemployment rate falls and labour becomes a scarce resource this should also lead to capital investment. The question is how much of this is in the share price already and I don't think very much. I think a company turning £5m profit, £10m net cash, a load of assets, growing at 20-25% a year and no pension deficit is worth more than £32m. I perceive the dividend yield may be holding things back at present. I expect the directors to double the final dividend as they did the half year, taking it to 9p. This would be a yield of 2.8%, which although not great seems pretty respectable to me for a company that wasn't paying one at all a couple of years ago.
junior21: Well it seems like this share has been largely forgotten about. We still have another couple of months until the results and I don't think we'll see any catalyst for an upward movement in the share price until then. I'm expecting eps of at least 50p based on no legacy costs during 2017 and a cash balance of at least £10m. Based on them figures the EV/earnings multiple will be less than 5 which would be too cheap for a company heading in the right direction. Anyone else have any thoughts on 2017 numbers?
Nth.Mid.Cons share price data is direct from the London Stock Exchange
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