Vp Share Discussion Threads

[edmundshaw] 22/12/2010 14:25

In demand again today! The market finally beginning to see the value here.

Unless... no, cold shower time! :)

Agree the results werenice. My high yield portfolio is doing well of late, now the bond bubble seems to be deflating.

[bentom] 02/12/2010 08:29

I note they have picked up two 5 yr Network Rail contracts - this will help undoubtedly. I agree however very solid results and an excellent dividend

[wjccghcc] 30/11/2010 16:36

H2 is seasonally weaker (winter effects + lack of events for TPA) but, as you say, 22.6p should be achievable. Well run company.

[yoyoy] 30/11/2010 08:17

forecast eps for 2011 is 22.60p. Appears to be more than achievable

[edmundshaw] 30/11/2010 08:03

And very satisfactory they are too, yoyo.

No doubt even better if the AMP5 programme had got under way a bit quicker.

[yoyoy] 03/11/2010 07:05

interims 30th Nov

[edmundshaw] 24/8/2010 08:04

Not only dirt cheap at this price, but 7.7p dividend to come if you hold on Sept 1st...

[bench2] 12/8/2010 17:52

Post IMS stock marked down to 150p . I paid 153.5p for stock via Selftrade and Hfx today for ISA and wife. JPilk always conservative so dull IMS , but co is pregnant with final div of 7.7p goes ex on wed 1 sept. Yields 5% on final div alone and 7% on total . Will stock be offered @ 145.8p xd on 1 Sept ? That is the effective entry price today for ISA buyers . Cyclical ..yes, risky ..no . A decent high yield trading stock hopefully near the bottom of the trading range.

[bentom] 09/6/2010 17:44

yes - keen to see what target price the brokers have for the next 12 months

[edmundshaw] 09/6/2010 14:53

Yup. Well managed business imo.

First bought these back in 2003 around 130p, sold out in 2006 around £3, bought back in last year at half that. So I have to fight a natural experience-based liking for these and be disciplined; but it certainly seems decent value under £2.

It is one of the most successful acquisitive companies I have seen; usually lots of acquisitions is a turn-off for me, as motives can be doubtful, and outcome earnings destructive. But VP seem to have their heads well screwed on in that regard, and maintain a good discipline achieving good ROCE in general.

May take time to recover completely given the double dip and the government's deficit reduction programme, but a good dividend while we wait, well covered by cash flow & earnings.

[bentom] 08/6/2010 20:35

great set of results announced today given the market difficulties and starkly in contrast to their competitors - 14% operating margins,relatively low gearing, strong cash generation and all businesses making money with upside opportunities particularly in their growing overseas activity.They always seem to deliver solid numbers

[bentom] 08/6/2010 20:29

great set of numbers given the recent market - never fail to deliver the goods

[edmundshaw] 07/6/2010 16:26

Pudding proofing tomorrow at 8 am sharp! Yum yum??

[edmundshaw] 16/2/2010 09:55

Sppedy Hire saw an upturn in their market (which compares to some of VP's), though still down YOY.

Reading across, looks OK for VP to me. With the latest trading statement too, and a low rating, I'm happy to hold here.

Money Week has never provided much of use for me. A hotch-potch of a magazine I think, with occasional good articles. I'm surprised they had an opinion on VP at all...

[deadly] 07/12/2009 12:18

The price hasn't looked back since the results despite the poor market for other construction stocks.
We'll see what happens after it goes xd this week.

[wjccghcc] 27/11/2009 13:10

Thanks edmund :-)

[edmundshaw] 27/11/2009 12:02

You'll likely get a better price then.

I'm somewhat from the Buffett school: "...a great company at a good price"; and "the market timers' hall of fame is an empty room".

Having said that, we all like to get a good share a bit cheaper if we can, and good luck to you.

[wjccghcc] 27/11/2009 11:31

Very good results in the circumstances. I get the sense that H2 will be weaker and there may well be a downgrade in forecasts. Having said that, I'd be happy to add on weakness.

[edmundshaw] 27/11/2009 11:15

FWIW I was in these in 2003-2006 for a nice profit, till they got more fully valued over 350p. So I think I have a feeling for the business & management that a fresh investment often lacks.

[edmundshaw] 27/11/2009 11:12

Added some more today on the in line (good) results and excellent management through the downturn.

Not to mention a good 6.5% yield well covered.

Cheap as those fried, long, thin potato slice things; or bits off the old block; or parts of computer processors.

Or casino counters.

OK, getting carried away here, 'scuse... :)

[deadly] 27/11/2009 11:05

Good results today as expected. EPS of 15.1p for 6 months and 3.1p divi maintained. Cash positive. Debt reduced.
P/E is only about 5.
Management has been sound for many years.

[edmundshaw] 25/11/2009 15:34

Thanks, jimbox; recovery to earlier levels would give 150% plus, and, as you say, a decent dividend in the interim.

Decent results from compass group today. Recovery in some sectors, it seems. Just has not reacehed construction/employment sectors (for example) yet.

[jimbox1] 25/11/2009 12:01

edmundshaw, I agree. Worth buying for the divi and eventual recovery.