Severfield Share Discussion Threads

[jadeticl] 20/3/2012 08:28

There is nothing of what I had hoped to see in these results. I dont wish to talk them to a lower SP, but I cannot see anything here to take them higher. The drop in divi is significant, and disappointing.

[gswredland] 20/3/2012 08:14

I think you may be right Jonwig..perhaps 150 or near it.

[jonwig] 20/3/2012 07:35

Well, they haven't called the bottom - still very cautious on UK prospects.

Interestingly, Billington [BILN] also reported today and do, tentatively, call the bottom of the market, though their product mix is a bit different.
Both companies talk of exits from the industry, but BILN's figures are dire. I'd expect them to delist so it's not really an alternative to SFR - for me, anyway.

Indian JV had a bit of a setback, though they play down the significance.

I don't think the share price can realistically hold 200p with eps (underlying) of only 8p. Back to 150p?

[fangorn2] 20/3/2012 07:29

"Tom Haughey, Chief Executive Officer, commented:
The Group is pleased to present a sound set of results, in-line with overall market expectations, underpinned by a strong UK performance, while operations in India continue to improve."

Will be interesting to see what the market makes of these

[jadeticl] 18/3/2012 19:38

I am waiting for Tuesday's announcements with a little trepidation. A no-change result will see continued downward pressure on share price in my view. A poor result will produce a sell off down to 150p. News of much increased revenue/profit from the Indian JV could be sufficient to deflect sellers. Personnally I would like to see a comment that "the worst is over", with a small increase in divi as an indicator of director's confidence in the short-term future.

[jonwig] 18/3/2012 08:34

FY results are scheduled for Tuesday (20th). The IMS in November suggests no big surprises, which may be a good thing!

[itchycrack] 17/3/2012 22:38

Watch for Director buys in the future. Their previous buys/sells have been a very reliable indicator in the past.

[jadeticl] 17/3/2012 11:25

damanko, I do not doubt that they are the best at what they do--I know they are. What also matters is how long the depression, in their area of expertise, will last. Management, normally reliable in their assessment of future prospects, thought their worst year would be 2010, from where they would rise. We now know that this was not the case. Neither were they correct on 2011. Divi has been cut much more than Management forecast, which took away much of the reason to hold. However, I could not bring myself to sell a share that has done much for me in the past, but I am desperate to see them turn the corner, and hoping that the upcoming results will give evidence of this.

[jadeticl] 01/3/2012 22:04

Bodycote produced amazing results recently. Pity I did not have as much invested on BOY as I have in SFR. A few engineers are looking good, as are housebuilders. Maybe we wont have too much longer to wait for SFR.

[jadeticl] 28/2/2012 13:16

No great activity on this thread, but this could change if the results (not too far off) are upbeat. This management is not given to unwarranted optimism.

[waldron] 23/2/2012 10:20

i guess they'll do whatever is necessary

perhaps EVEN threaten to make a new peg at 1.25

[alphorn] 23/2/2012 08:55

The CHF is running very close now to its 1.20 € peg - what will happen?

[waldron] 17/2/2012 10:42

SNB Official: Swiss Franc Rate Not Ideal Or Helpful For Economy
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The current euro/Swiss franc level of around 1.20 isn't a balanced rate, and isn't ideal or beneficial for the Swiss economy, Swiss National Bank deputy director Thomas Moser said in an article published Friday.

Moser, who is widely tipped to replace former central bank president Philipp Hildebrand on the SNB's three-person government board, reiterated that the franc remains "highly valued" but will weaken over time.

"The weakening [of the franc] could take place via the nominal exchange rate, as well as through the inflationary differential with its trading partners, although a such correction normally only occurs over a longer time frame," Moser wrote in an article in the economy ministry's monthly newsletter.

The SNB's introduction of a ceiling for the franc at CHF1.20 per euro in September "has reduced the massive over valuation of the franc and limited the potential damage to the Swiss economy," Moser said.

Still, "the situation remains difficult for large sectors of the Swiss economy, and the franc remains highly valued," he said.

Moser was Hildebrand's deputy in the department dealing with monetary policy and international affairs.

By Neil MacLucas, Dow Jones Newswires; [phone]; [e-mail]

[waldron] 16/2/2012 19:07

Swiss Economics Minister: Franc Overvalued, Would Like It To Weaken
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The Swiss franc is overvalued and Switzerland would like it to be weaker because it poses hardships for the country's exporters, but "it is what it is," said Swiss Economics Minister Johann Schneider-Ammann.

The Swiss National Bank introduced a ceiling for the franc at CHF1.20 per euro in September to alleviate some of the price pressures on Swiss exporters. The central bank's officials have said the Alpine safe-haven currency remains highly valued at current levels.

Speaking at a press conference with his Polish counterpart Waldemar Pawlak in Warsaw Thursday, Schneider-Ammann said the SNB may have to keep intervening to support that level for a few more months or longer.

He added that the Swiss government's projection for economic growth this year of around 0.5% remains valid because it had been made with the assumption of the franc rate at CHF1.20 to the euro. The first half of 2012 may prove difficult for the economy, but growth should pick up in the second half, he said.

He also said that the SNB is managed "very well" under its vice-president, Thomas Jordan, who became acting president after Philipp Hildebrand's resignation in January. Schneider-Ammann said the appointment of Hildebrand's successor on the three-man board is expected in early May.

-By Patryk Wasilewski and Marcin Sobczyk, Dow Jones Newswires, [phone];

[e-mail]

[jadeticl] 10/2/2012 19:14

Slowly, slowly moving up to respectibility. Issued notice of results well in advance--normally a healthy sign on the basis that good results are always easier to tell than poor results. I am hoping for some encouraging news in March.

[waldron] 26/1/2012 07:01

Switzerland Must Be 'Vigilant' on Risks of Franc Limit to Euro, FSB Says
QBy Jim Brunsden and Klaus Wille - Jan 26, 2012 1:00 AM GMT+0100 .
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Business ExchangeBuzz up!DiggPrint Email ...The Swiss National Bank (SNBN)'s franc limit against the euro may cause the country's economy to overheat if authorities aren't vigilant to its effects, according to a report by the Financial Stability Board.

"The combination of the floor with a protracted low interest rate environment could potentially result in excessive credit creation and contribute to the build-up of imbalances in the domestic real-estate and mortgage markets," the FSB said in an assessment of the nation.

It's "essential" that regulators "remain vigilant in monitoring trends," the FSB said. The currency floor is a "bold stance against an overvaluation" of the Swiss franc, it said in the report published yesterday.

Property prices have risen in Switzerland, fueled by zero interest rates and rising demand from foreigners seeking a job. While increasing the benchmark rate may prevent a property bubble from emerging, it would also put upward pressure on the Swiss franc and stand in the way of the limit of 1.20 francs versus the euro introduced in September to fight deflation threats. SNB Vice President Thomas Jordan said last month that "monetary policy is currently unable to react to potential imbalances in the mortgage market."

Swiss regulators won FSB praise for imposing tough capital and supervisory rules on the country's two biggest lenders, UBS AG (UBSN) and Credit Suisse Group AG, in the wake of the crisis that followed Lehman Brothers Holdings Inc.'s 2008 collapse. These included a requirement that they hold core reserves equivalent to ten percent of their assets, weighed for risk.

'More Ambitious'
The Swiss measures are "more ambitious in certain respects" than international rules agreed upon last year for globally systemic lenders, the FSB said. Follow-up measures should include ensuring the two banks have a "rigorous corporate governance framework," the FSB said.

Authorities should also consider removing government guarantees of the liabilities of some local, so-called cantonal, lenders, the FSB said.

The Financial Stability Board brings together regulators, central bankers and finance ministry officials from the Group of 20 countries. The board coordinates financial rules.

To contact the reporter on this story: Jim Brunsden in Brussels at [e-mail]

To contact the editor responsible for this story: Anthony Aarons at [e-mail]

[deadly] 19/1/2012 10:26

Looking lively these days though; whole engineering sector picking up recently.

[itchycrack] 10/1/2012 14:08

Ditto, could be a long wait though.

[jadeticl] 10/1/2012 13:55

Gone are the days when this site generatd much interest. However, I am still a holder awaiting the return to growth (or for Indian JV to become a sizable part of this business).

However, there is a small spike up today--let us hope this is a real signal of something happening.