Renew Share Discussion Threads

[nurdin] 26/3/2021 15:22

Hi Martin..yes I am good. Just havent been very active in the market. Hope you are well too

[shanklin] 26/3/2021 15:04

Hi nurdin

Haven't see you post for a while. Hope all is well with you.

[nurdin] 26/3/2021 14:41

Comment by Paul Scott (no not the CEO but the one at Stockopedia :o))

I’ve had a rummage through the accounts filed at Companies House for J Browne (co. no. 06599855), and it looks excellent. A decent, profitable, cash generative business, making good margins. Looks an excellent fit for RNWH, and it looks a favourable purchase price too. A thumbs up from me, this looks a good acquisition, as far as I can tell.

[wad collector] 26/3/2021 10:25

The bit I like best is

Group trading for the first half of the year is expected to be ahead of the previous financial year and in-line with management's expectations. As outlined in the AGM statement on 27 January 2021, the latest national lockdown has not had any material impact on trading and the Group continues to experience continuity in demand for its services across all markets. As a result, the Board remains confident in delivering consensus expectations for the full year.

This is not going to stay sub £6 for long I suspect.

[rivaldo] 26/3/2021 08:56

Cheers bsdjj - lots of upside from here to 715p.

J Browne's web site is worth a look - some impressive news flow in the last year supporting high visibility of revenues through to 2025:

[bsdjj] 26/3/2021 08:21

Numis new PT 715p.

[rivaldo] 26/3/2021 07:27

Agreed. Terrific news all round:

- an extremely earnings-enhancing acquisition, likely to return £5.5m+ PBT on £29.5m consideration
- funded from cash (no equity)
- with growth to come as AMP7 kicks in for five years
- RNWH have worked with J Browne for a long time so know them well
- in an atractive and growing sector

Plus trading nicely in line for H1 and ahead of last year. It's particularly encouraging to see that RNWH are already confident in delivering expectations for the year.

[rimau1] 26/3/2021 07:15

Excellent news. Sounds like a fantastic acquisition. Very impressed with the price paid, the new regulatory framework has kicked in and Ofwat will ensure there is significant long term essential works for Renew. Net debt after acauisition still <1x and we have an immediately earnings enhancing acquisition and it sounds like a bargain acquisition price. A nice steady and she goes TU too.

[igoe104] 26/3/2021 07:12

What a fantastic acquisition and trading statement. Paying 29.5 million for 5.5 million profit and more to come is extremely good value.

[harrogate] 26/3/2021 07:12

That looks a very nice acquisition- core sector and no equity raise. Very decent earnings accretion numbers mentioned. Trading in line - was hoping maybe for an ahead but this should give the shares a boost

[rivaldo] 24/3/2021 12:10

Given all the buzz about investment in Teesside at present (offshore wind, free ports, carbon capture, Teesworks, the BBC moving to Darlington etc), this is a good strategic move from Seymour Civil:



"Teesside SMEs come together to take on 'big boys' on major contracts

TeesSMEs will see 10 companies working together in the hope of creating 200 new jobs in the area

23 MAR 2021

An alliance of some of Teesside’s highest performing SMEs is looking to create 200 new jobs by offering developers an alternative to major contractors.

TeesSMEs aims to offer a viable alternative to national delivery contractors who, the group says, often rely on transient workers and global supply chains to deliver projects on behalf of clients."

"Its members include Solomons Europe, Seymour Civil Engineering, Addison Project, AVRS Systems, Francis Brown Ltd, Group Industrial UK Ltd, Booth Construction, Projex Solutions, Johnson Procurement Services and Lynas Engineers.

Together they offer commercial management, quantity surveying, procurement and tendering, design and project management services, civil engineering, construction and structural design, structural steel and cladding, pipework and fabrication, control, instrumentation and electrical services, scaffolding, painting, insulation and rope access.

The goal is to be a one-stop-shop for clients seeking what TeesSMEs calls a ‘shovel ready” supply chain.

etc"

[rivaldo] 17/3/2021 11:41

Another win for Seymour Civil Engineering - looks quite a large project:



"Restoration of historic seafront Bandstand set to resume

The Victorian amphitheatre will accommodate 500 spectators when finished

16 MAR 2021"

"Local company Seymour Civil Engineering has been appointed as the Principal Contractor for the project, which is set to accommodate 500 spectators when finished."

"The announcement of Seymour Civil Engineering as Principal Contractor follows a tender process.

etc"

[rivaldo] 16/3/2021 12:37

News this morning - Seymour Civil seem to have done very well in the new £400m North East Procurement's new national civil engineering framework awards.

These run through to March 2025.

They're very handily placed in all three National, North East and Local lots (I wouldn't expect them to be up in the £10m+ lots with the big boys):

[wfcreserves] 12/3/2021 11:25

Some larger than normal “unknown as to buy or sale” trades, and looking like linked, going through today.
Are these likely to be nominee holdings end of tax year adjustments?
Nice to see them pushing up the share price

[rivaldo] 03/3/2021 12:03

QTS are expanding - news today of their leasing a large facility in Nottingham:

H

And a prestigious bridge repair job for AmcoGiffen:

[wad collector] 26/2/2021 18:23

It certainly looks like a profitable future sector, and if Clarke are a key player , then yet another reason to hold RNWH. Not that the share price reflects it. Tempted to add to my holdings just for a quick 10% trade .Surely this will be visiting 550 again before long?

[rivaldo] 26/2/2021 11:04

Per this Feb 17th press release, Darlington Borough Council "has added EV charging points to power its current fleet of nine electric vehicles that are used by its Building Services Department".

And "The next stage of Darlington Borough Council’s plan is to update its 250-vehicle fleet to EV power", all part of a National Framework Agreement being implemented by Innogy.

What has this to do with RNWH? Well, Clarke Telecom has a ClarkeEV subsidiary, who happen to be Innogy's installation partner - imagine the revenues accruing from this over the next decade or so.......





"innogy’s highly-skilled installation partner, Clarke EV, delivered all enabling civils works and electrical installs at Darlington Borough Council. This included charging points across its Allington Way and Lingfield Way depots. The innogy eClick and eBox chargers that form part of the new infrastructure can easily be swapped out or changed – a flexible and totally unique feature in the EV marketplace.

“innogy eMobility and Clarke EV delivered a superb job that the team should be really proud of.”
Gary Bennett, Waste & Transport Services Manager, Darlington Borough Council"

"The EV charging point roll out at Darlington Borough Council comes hot on the heels of innogy’s collaboration with Oxford City Council which is striving to reduce the city’s CO2 emissions by 750 tonnes per year by switching its 27-strong refuse vehicle fleet to electric power."

[rivaldo] 22/2/2021 11:51

Cheers bsjll, belated thanks re the Numis upgrade to 660p.

Let's hope an acquisition is close. RNWH should have the capacity to fund most or all of an acquisition from internal resources alone, unless the acquisition is particularly large and requires part-funding a la Carnell.

[rimau1] 22/2/2021 10:53

First top up in a while, since the covid crash actually when we could buy at £3.80 but happy to average up, spread is a killer but its worth it!

[wfcreserves] 19/2/2021 17:38

According to current market values we haven’t made up for the last placing and dilution yet!

[bsdjj] 18/2/2021 16:51

Yeah it is not as if a house broker has never put out a glowing research note and a few days later a placing is announced.I hope the acquisition is good....

[harrogate] 18/2/2021 16:12

Odd share price action today. I wonder if there is a placing coming here ?

[bsdjj] 18/2/2021 09:13

Numis have a 28 page note out today. Upgraded PT to 660p from 590p.

[rivaldo] 09/2/2021 08:34

Great to see Octopus buying more - they now have over 18%, so quite a commitment.

I like the sound of the work in post 9374 above. Looks to be a sizeable job going forward.

[cwa1] 09/2/2021 07:48

Octopus' holding edging up...