Speedy Hire Share Discussion Threads

[skinny] 12/11/2013 07:06

Speedy's International Division enters into Caspian Joint Venture


Speedy today announces that it has entered into a 50/50 joint venture with J. & J. Denholm Group ("Denholm") to provide asset management and equipment rental services to the extensive oil & gas sector in Kazakhstan, including the "super giant" fields at Tengiz, Karachaganak and Kashagan, three of the largest oilfields in the world.

Denholm, through its specialist oilfield services business has a market-leading position in the provision of maintenance and turnaround services in Kazakhstan which it has established through 20 years of operating in the region. Since 1999 it has operated this business through Denholm Zholdas LLP ("DZ").

DZ is headquartered in Atyrau, with an operating hub at Karabaton, adjacent to the onshore processing facilities at the huge offshore Kashagan field. In addition to Karabaton, it has permanent facilities at the onshore production plants at Tengiz and Karachaganak and at the export port of Aktau, which also acts as a supply base to Kashagan.

The joint venture will trade and operate under the brand "Speedy Zholdas" in Kazakhstan. Both Speedy and Denholm have identified the opportunity to leverage DZ's existing infrastructure by providing a full range of asset management and equipment rental services in support of existing clients of DZ, who include amongst others Chevron and Exxon, whilst at the same time extending such services to other oil & gas clients with whom Speedy already has, or is targeting, long-term relationships.

[skinny] 12/11/2013 07:06

Financial Highlights
· Revenue increased by 0.4% to £169.8m (2012: £169.1m)
· Earnings per share+ increased by 1.8% to 1.12 pence (2012: 1.10 pence)
· EBITDA decreased by 2.7% to £32.7m (2012: £33.6m)
· 3.0% increase in adjusted+ profit before tax to £6.8m (2012: £6.6m)
· Profit before tax increased by £0.6m to £5.3m (2012: £4.7m)
· Return on capital employed increased to 7.6% (2012: 7.0%)
· Net debt to EBITDA+ (trailing 12 months) improves to 1.1x (2012: 1.2x)
· Strategic investment in the hire fleet to support key sectors (£12.5m increase in net book value)
· Interim dividend increased by 18% to 0.26 pence per share (2012: 0.22 pence per share)
+ before amortisation

Trading and Operational Highlights
· Continued focus on active hire markets and increasing service revenue streams
· On-going evolution of customer base and improved quality, security and transparency of long-term earnings
· Strong growth in infrastructure: revenue from the UK's top 10 infrastructure customers grew by 31% - Group well positioned and growing revenue in its targeted markets of water, waste, energy and transport
· Satisfactory UK performance positioned for growth - Speedy's market share remains strong
· Full mobilisation of the National Grid contract will provide strong momentum into H2. International division continues to make good progress and is building a strong reputation for expertise and delivery - mobilisation on key projects continuing to plan and will enhance H2 revenues
· Rigorous approach to cost management and operational efficiencies continuing to drive improvement in costs and ROCE

Post Period Activity
· Advanced acceleration of depot network and logistics strategy plan based on success of existing Multi Service Centres (MSCs)
· H2 expected to benefit from post period contracts secured to underpin second half performance
· International set for further expansion with the investment in a joint venture in Kazakhstan, announced today, which will enable long-term access to a number of the world's largest oil fields in the Caspian region.
· Management team further strengthened through experienced UK and International appointments

[skinny] 12/11/2013 07:05

Financial Highlights
· Revenue increased by 0.4% to £169.8m (2012: £169.1m)
· Earnings per share+ increased by 1.8% to 1.12 pence (2012: 1.10 pence)
· EBITDA decreased by 2.7% to £32.7m (2012: £33.6m)
· 3.0% increase in adjusted+ profit before tax to £6.8m (2012: £6.6m)
· Profit before tax increased by £0.6m to £5.3m (2012: £4.7m)
· Return on capital employed increased to 7.6% (2012: 7.0%)
· Net debt to EBITDA+ (trailing 12 months) improves to 1.1x (2012: 1.2x)
· Strategic investment in the hire fleet to support key sectors (£12.5m increase in net book value)
· Interim dividend increased by 18% to 0.26 pence per share (2012: 0.22 pence per share)
+ before amortisation

Trading and Operational Highlights
· Continued focus on active hire markets and increasing service revenue streams
· On-going evolution of customer base and improved quality, security and transparency of long-term earnings
· Strong growth in infrastructure: revenue from the UK's top 10 infrastructure customers grew by 31% - Group well positioned and growing revenue in its targeted markets of water, waste, energy and transport
· Satisfactory UK performance positioned for growth - Speedy's market share remains strong
· Full mobilisation of the National Grid contract will provide strong momentum into H2. International division continues to make good progress and is building a strong reputation for expertise and delivery - mobilisation on key projects continuing to plan and will enhance H2 revenues
· Rigorous approach to cost management and operational efficiencies continuing to drive improvement in costs and ROCE

Post Period Activity
· Advanced acceleration of depot network and logistics strategy plan based on success of existing Multi Service Centres (MSCs)
· H2 expected to benefit from post period contracts secured to underpin second half performance
· International set for further expansion with the investment in a joint venture in Kazakhstan, announced today, which will enable long-term access to a number of the world's largest oil fields in the Caspian region.
· Management team further strengthened through experienced UK and International appointments

[mr_bluesky] 11/11/2013 17:40

the star are aligning!

Its all set up for a nice break out.

Don't let me down charts ;)

Mr Bluesky

[munchbowl] 11/11/2013 16:59

Yes you are

[maurillac] 11/11/2013 15:26

lets hope so. am i right in saying we have interims tomorrow ?
m

[mr_bluesky] 10/11/2013 23:59

I'm gonna make a call right now and that is that SDY will break out over 70p in 10 trading days or less.

Mr Bluesky

[mail2] 10/11/2013 19:26

SDY

hxxp://navpatel333.wordpress.com/2013/11/09/the-week-ahead-uk-equities-16/

[rumbers2] 04/11/2013 16:58

thanks for the clarification bracke.
Good day today taking us above the 64-66p trading range.

[bracke] 04/11/2013 13:57

dahhad

I can offer very little that is not evident fron finger's chart.

S/R is 65 if that fails next is 60. To the upside 70.

The share price appears to operate S/R at intervals of 5.

Other than that it's still in uptrend.

[dahhad] 04/11/2013 13:34

Out of interest bracke, what would you make of the current chart?

[bracke] 04/11/2013 11:14

fingers/rumbers

Happened to see the 'gap' posts above.

The gap red circled on the chart is over and done with. Once the share price rose and filled the gap it was no longer of consequence. It does not come back into play.

[munchbowl] 04/11/2013 11:05

Uk construction pmi rises to six year high 59.4 in October 58.9 September. May wake things up

[tymedici] 28/10/2013 09:45

Storm damage. 20 years ago, last night's autumn gale would hardly have got a special mention. But we now live in different times and our 24 hour news channels are desperate for..well..news. So don't place too much reliance on a storm windfall (sorry about the pun)and a rush to hire equipment, although any little bit helps. Personally I am now counting off the days to the start of the Santa rally which usually commences after Thanksgiving Day.

[rumbers2] 28/10/2013 08:20

Thanks fingers. I think the crux here might be 12th November when we get the 6 months interim results.

[fingers xxd] 28/10/2013 07:52

Bertie Bee - my previous Post 4492

[boonboon] 28/10/2013 07:51

How many tools will be hired for clean-up operations? Pumps, generators, chain saws, lifting equipment etc?

[bertie bee2] 28/10/2013 07:40

Is there not a possible 'gap tussle' between the gap up to 125 and the gap down to 61?

[rumbers2] 24/10/2013 11:37

Hi fingers, it looks like we are trading in the 64p-66p narrow trading range again as we did for a whole month prior to the release of the trading update on 17th. Im keeping watchful eye on any sells below 64p as you previously mentioned.
I'm interested in your opinion on 'gap fills'. Is there one to fill between 61.5p-60.5p when it gapped down on quarterly results 17th July? How reliable are they? Any guidance most appreciated.

ps.... just as i type under 64p it goes

[rumbers2] 22/10/2013 13:55

Kames added another million to their holding last Thursday -bodes well for your purchase maurillac.
Investoree very well done on your HAYT recommendation. It broke out today with 6p rise. Nicely timed.

[aberdare] 21/10/2013 16:50

Most probably peel hunt is looking to pick some up for themselves after some dull bug gar followed their advice

[maurillac] 21/10/2013 16:08

i hope so because i had a few today for my isa. looks to me like a bit of a bump in the share price is in order, lagging the market lately
m

[cricklewood] 21/10/2013 16:06

I used to work in the building trade and was very impressed by the way SDY had a hire shop on all the big sites for the various contractors to hire their equipment, pretty sure the evening standard was a deramp ?

[rumbers2] 21/10/2013 15:27

as long as we are not too far down the pecking order.

The Evening Standard write up was pretty brutal - aided and abetted by Peel Hunt:

SELL
Speedy Hire
Flog shares in Speedy Hire, Peel Hunt urges. The broker notes the business - which rents out tools - issued a trading statement in line with City expectations but shares are too dear at a 45% premium to Peel's forecasts. Peel gives a 50p price target for shares which are presently 67p.