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% 341.00p 0 11:00:15
Bid Price Offer Price High Price Low Price Open Price
336.00p 346.00p 341.00p 339.00p 341.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 291.77 1.00 7.31 46.6 34.6

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Date Time Title Posts
13/7/201812:14North Midland Construction714
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 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 341p.
North Midland Construction has a 4 week average price of 339p and a 12 week average price of 305p.
The 1 year high share price is 432.50p 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 1,824 shares. The market capitalisation of North Midland Construction is £34,611,500.
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?
cc2014: It's because it's so far off the beaten track we've all had the opportunity to get in so cheap. Hurrah. Only one trade today shows that none of the institutions/funds are interested. Of course they may need a bit of time to go and run some numbers but I doubt it. Once the company gets to a market cap of £50m, someone will surely take an interest but one wonders when that happens where on earth they will be able to get any decent volume of shares. The family won't be selling, Mr. Charlton won't be. They ain't getting mine either for less than say £15 a share. And by the time they are £15 a share I'll probably think they are worth £25 a share. Of course if IC run an article after the results that may move the share price in the short term
cc2014: One more thing. Staying in a trade is about conviction and assessing whether on balance it seems likely the price will continue to rise. Having bought in at an average of 115, I am pleased to say that my finger isn't hovering over the sell button but I'm still shaking my head wondering why the share price isn't higher. Ok, I get that if you can't be bothered to spend an hour reading the accounts and doing some research it may not be obvious and I get that the dividend of 4.5p isn't very attractive but this appears to be the only reasons for it not to be higher. People on here have talked about £5 as a target but I'm looking for more than that over the next 3-5 years. The share price has some catch-up to do due to historic legacy contracts and lack of trust but I think the management team are really focused on good quality high margin work and building relationships.
Nth.Mid.Cons share price data is direct from the London Stock Exchange
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