Tclarke Share Discussion Threads

[pugugly] 03/6/2011 16:36

market selling off heavily - Looks as though opinion is that CTO could suffer very badly as a result in the slowdown in construction and holders cutting losses - Any other thoughts ?

[bench2] 28/4/2011 16:15

Only went below 100p for 5 trading days when CTO went xd 4.25p on 20 April . Very good 6p bounce today... but will only continue to perform well if UK economy starts to improve. Worth watching

[bench2] 23/3/2011 11:37

Good sign CTO bears on the retreat as price breaks out above 100p

[hvs] 22/3/2011 10:13

There she goes.

[nellie1973] 18/3/2011 18:44

Broker upgrade today

[bench2] 18/3/2011 14:20

LG.......many thanks ..just a few panicky sellers.

[hvs] 18/3/2011 12:30

Watch this rise.

[lord gnome] 18/3/2011 11:57

I hope this trade data formats correctly for you bench2. Short answer is that there were no significant trades at yesterday's lows. I reckon it was just a few small sells and a total absence of any buyers.


17/03/11 16:35 85.0 16,941 UT 85.0 85.5 Sell 45,396 96,614
17/03/11 16:25 87.688 6,000 O 87.0 89.75 Sell 45,396 79,673
17/03/11 15:56 86.188 1,000 O 85.0 89.75 Sell 45,396 73,673
17/03/11 15:55 86.0 131 AT 85.0 89.75 Sell 45,396 72,673
17/03/11 15:55 85.0 156 AT 85.0 86.0 Sell 44,688 66,542
17/03/11 15:55 85.0 100 AT 85.0 86.0 Sell 44,688 66,386
17/03/11 15:55 86.0 708 O 85.0 86.0 Buy 45,396 72,542
17/03/11 15:55 89.0 525 AT 86.0 91.5 Buy 44,688 63,661
17/03/11 15:55 85.15 6,000 O 85.0 86.0 Sell 44,688 72,542
17/03/11 15:55 89.0 500 AT 89.0 91.5 Sell 44,163 63,661
17/03/11 15:55 90.0 2,000 AT 89.0 91.5 Sell 44,163 63,161
17/03/11 15:55 85.15 2,625 O 85.0 86.0 Sell 44,688 66,286
17/03/11 15:55 89.0 531 AT 89.0 91.75 Sell 44,163 61,161

[aleman] 18/3/2011 11:55

Pensions assumptions seem unduly conservative, although I am not an expert: salary increases are estimated at 4.4% while asset returns are only 6.1% (although it will depend on the mix). These 2 numbers just don't gel in my opinion. Also, life expectancy for current employees is 91 for men and 93.3 for women which is higher than other companies. I think the deficit is exaggerate because of harsher assumptions than other companies. The general trend recently has been for very large improvements in deficits, anyway, as the discount rate has improved as bonds fell. Aviva's £1.7bn deficit was wiped out in the last year. Most others I've seen have reduced by 20-60%. There is cyclical momentum in deficits which tends to last for a few years and they are on the up so I doubt CTO's will be much of an issue.

[bench2] 18/3/2011 11:35

I was away yesterday does anyone have access to the trading data yesterday afternoon . Were there any big volume trades executed below 90p ?

[jonwig] 18/3/2011 11:05

Goliard, post 748.
The 2009 Annual Report has (p9):

Pensions
The risk associated with the defined benefit scheme has
to be weighed against increased staff retention and
other benefits to staff as a result of the scheme. During
2009, T.Clarke consulted with members and with effect
from 1st March 2010 has altered the benefit structure
from a final salary scheme with an accrual rate of 1/60th
to a Career Average Revalued Earnings ('CARE') scheme
with an accrual rate of 1/80th.

In order to contribute towards scheme funding, the
group granted a charge to the value of the greater of
£1.5m or half the value of our London property to the
pension fund during the year. We have seen a reduction
in the risk-based levy paid to the Pensions Protection
Fund and have the ability to spread deficit contributions
over a longer period. T.Clarke will continue to monitor
the scheme and consult with members as required.

Does that reassure?
For myself, I've always regarded staff retention as a key feature of the business, and this does need to be paid for.

[one for the money] 18/3/2011 10:49

All IMHO

This is a pretty good yield - and the order book is improving.

I bought, originally, at around 120!
Cheers
john

[goliard] 18/3/2011 08:31

Hard to fault what they are doing and the results are respectable enough. Nasty pension liability building up which they need to address quickly and there is no sign of this happening. Did I read correctly, 16% employers contribution!?

Still, Market cap looks ok, but they really need to see major signs of the industry picking up before there will be a compelling reason to buy. I don't hold, but if I did I would be happy enough staying in, but i don't think I will buy unless I see sub 80p as the spread kills the dividend.

[lord gnome] 18/3/2011 08:26

The only question remaining is 'Is all the bad news already baked in the price or could we still see further weakness?'. I have had these on my income portfolio watchlist for some time now and I have been pleased that I have successfully managed to avoid the temptation to buy any. I think that any purchase around these levels will look good in 2 years time, but perhaps the next 12 months will give an even better opportunity. I just hope I have some spare cash available when it happens. Target: 80p during the summer, after ex-div.

[wjccghcc] 18/3/2011 08:21

Though it's worth bearing in mind that 2011 is forecast to be 20% worse and the H1 dividend likely cut by 50% to give 6.4p. Still, it certainly seems they're making the right moves for any bounceback in 2012.

[topvest] 18/3/2011 08:04

Yes, pretty solid.

[gre] 18/3/2011 07:38

These are very respectable results given the current market conditions in the construction sector. Still a healthy dividend despite the reduction from last year. Overall I'm pleased and happy to hold long term.

[shroder] 17/3/2011 16:55

The selling is a bit obvious the day before results, tut, tut.

[solarno lopez] 17/3/2011 16:42

Double bottom and head and shoulders never good according to the CHARTISTS

[lord gnome] 17/3/2011 16:41

Did someone get a sneak peak at tomorrow's results? Surely not!

[mrphil] 17/3/2011 16:37

OK so what happened late afternoon to cause the sudden big drop?

[goliard] 17/3/2011 05:05

I'm surprised this hasn't gone lower to sub 80p yet. Keep checking back, but it keeps clinging on to the 90p to 100p range. We should see a definite move on Friday with the results.

[hvs] 16/3/2011 17:40

So ??

maybe we will have a triple top ? You reckon ?

[solarno lopez] 16/3/2011 12:56

Like I said double top and head and shoulders now

[bench2] 16/3/2011 12:27

Broken through the lows , final results on Friday ! But up until today CTO has done well relative to a falling market .