Waterman Share Discussion Threads

[hazl] 12/10/2016 08:46

I like the aspect of the firm's longevity which I think Norbert raised.
They have been round 'the block ' a few times!
Probably seen it all and can also perhaps see where we are heading.

Unusual for me to get into a firm after it has risen,as I am either into new technology or recovery stocks but this seems a 'safer haven' perhaps in uncertain times?
Let's hope that proves to be the case.
Time will tell.

A dividend stock as well from my point of view.

IMO

[muckshifter] 12/10/2016 07:41

Interesting comparison rhomboid. After the surprise brexit vote, I seriously considered selling WTM, but didn't during the immediate post vote panic, although I'm still considering it. The main reason for that thinking was that I feel that WTM are a bit too "London building centric", which may have some bearing on its current value in comparison with Mouchel.

In decades of civil engineering contracting throughout the UK, but never in London, I believe I only remember seeing tender documents by Waterman once in probably a couple of hundred sets of contract documents, which reinforces my opinion gained from ARs.
Regards.

[norbert colon] 12/10/2016 07:24

As posters here will know I have many times highlighted that on average most consultants are worth around 0.7 x sales. WTM have sales of circa £90m equating to a valuation of £60m on that basis. Current valuation is in fact £26m. Other valuation metrics (EBITDA multiples etc) show a similar valuation anomaly.

[rhomboid] 12/10/2016 07:18

So c. 20% more turnover is worth £75m vs an EV here of less than £25m , disconnect

[hazl] 12/10/2016 06:56

The ALNC headline of its article

'Waterman Profit and dividend Up by 50% following Robust year' says it al l really!

IMO

[hazl] 11/10/2016 14:00

Director buys every little helps I guess.

[hazl] 11/10/2016 07:05

I am not even sure how it crept in there,apologies .
It must have been one I looked at with several yesterday.

[hazl] 11/10/2016 07:03

Many thanks will address.

[muckshifter] 11/10/2016 06:48

hazl,
the "thisismoney" article you reference above is showing as not available, but it is completely out of date anyway. Waterman now have offices in UK, Poland, Ireland and Australia only.
Regards.

[hazl] 10/10/2016 17:44

FOR ANYBODY CONSIDERING THIS COMPANY....

https://www.watermangroup.com/what-we-do

[hazl] 10/10/2016 11:10

A few months old above and I think improved since.

[hazl] 10/10/2016 09:42

Very comprehensive assessment Nobert Colon.

[norbert colon] 10/10/2016 08:56

Interesting to see the market reaction this morning. Clearly investors are cautious and rightly so; management have articulated their own caution in the medium term. All I will say from my own perspective is that even if growth slows a little (not a bad thing) WTM are still on a very modest rating, are valued at a discount to book (compare their peer group please...), have an excellent cash buffer, pay a very good dividend and, most importantly, are well managed ensuring investors money is as well protected as you could hope. Nowadays I want to know from my investments "what is the chance of my losing my total investment". WTM have been trading since the 1950's and are very highly regarding in their sector with lots of repeat business. As the results highlights state, they are in excellent shape and whilst none of this will 'guarantee' my investment, I continue to sleep well at night with this remaining my largest holding. With Sterling weakening further the chance of them becoming a bid target for an larger overseas player also heightens.

[hazl] 10/10/2016 08:21

Yes I agree rhom I noticed it when they said the results were going to be ahead of expectations.
When it dipped this morning saw it as a good opportunity to get a div paying stock .

[pj 1] 10/10/2016 08:20

One of those strange mornings where it 'appeared' someone wanted out no matter what.

[rhomboid] 10/10/2016 08:16

Exactly Shanklin, and the number of staff were also similar , so now it's all about improving the quality of earnings which I'm inclined to believe they'll deliver on ahead of plan. Also the cash position and commitment to increase divis make this a good place to have a holding imho

[shanklin] 10/10/2016 08:10

The only -ve I could see was that the order book had not grown. This is reflected in the statement "we consider it prudent to assume a year of consolidation in FY17 with growth to resume i..." comment in the Singer's link provided above.

Obviously, if achieved, the aspiration to increase margins will positively impact on profitability.

[hazl] 10/10/2016 08:08

EXCELLENT results and outlook very upbeat as well.
Picked up a few this morning.

[mfhmfh] 10/10/2016 07:59

good opportunity to top-up. IMHO.

[gucci] 10/10/2016 07:51

moving back up
probably close blue

[gucci] 10/10/2016 07:39

time to add here?

[zoolook] 10/10/2016 07:32

Why the drop?

[mattboxy] 10/10/2016 06:42

Sorry didn't post as succinctly as I hoped!Good figures though.