Market Commentary - Housing, Infrastructure, Construction and Services 20th April 2017
It’s all pretty quiet this morning with no company news to report. Balfour Beatty, Tyman and Barratt Developments trade XD today with the first two having final dividends at 1.8p and 7.5p respectively and the interim pay out from BDEV at 7.5p. SIG was the best performer yesterday rising 3.0% to 116.9p, its highest close since October last year.
Read more...Market Commentary - Housing, Infrastructure, Construction and Services 19th April 2017
Rentokil’s update this morning shows a positive picture for trading in the first quarter to end March 2017 with organic revenue growth of 3.1% and growth from acquisitions at 6.9%, all at CER. RTO is busy trading out of dull old Europe and into thriving emerging markets and the US, the prototype/poster child for post Brexit Britain?
Read more...Market Commentary - Housing, Infrastructure, Construction and Services 18th April 2017
Bank Holiday over and the US market seemed to take Fake Armageddon in its stride. There is no new news today in the sector. Timely therefore for Balfour Beatty to issue another of its short thought pieces on UK infrastructure, the latest out this morning is on UK aviation facilities. The moves on Thursday last, the most recent trading session, had no real pattern.
Read more...Airbus CEO says “he is not close to retirement”
Succession planning is proof that Airbus is a changed company
In a Reuters interview after the Airbus AGM yesterday CEO Tom Enders said he has no intention of retiring when his current term ends in 2019 and that “it is up to the board and shareholders to decide” if they want him to stay. Mr Enders’ comments yesterday are the first insight to what is likely to be fascinating succession planning at Airbus. It is interesting for two reasons; firstly the company’s history of the management team being chosen by the French and German governments and secondly what the future holds for Fabrice Bregier who currently runs Airbus Commercial Aircraft and has recently been appointed Chief Operating Officer of the newly integrated Airbus SE.
Read more...Market Commentary - Housing, Infrastructure, Construction and Services 13th April 2017
HSS Hire has announced that CEO John Gill is to step down and the company is now seeking its third CEO since floating two year ago. Sodexo has released its first half numbers and they are not the best improvement on last year that we have seen.
Read more...E&P industry funding cost still high
E&P industry funding cost still high
Cairn’s recent deal with Flowstream gives us another data point to examine cost of capital in the industry. What is the implied cost of capital for Cairn from this deal?
Read more...
Market Commentary - Housing, Infrastructure, Construction and Services 12th April 2017
Carillion has announced yet another contract success today, Countryside has made a trading statement for the first six months of its financial year to end March and Atkins, as expected, has issued a trading statement for its full year end on 31st March. Bilby has also provided us with an update for the year to end March 2017. Carillion’s good news is success at being appointed preferred bidder on a £75m project to build student accommodation in Manchester, for the University of Manchester, which is unusual as such facilities are often provided by third parties today. Countryside’s release indicates that it is trading well, as expected. Bilby has had a troubled couple of years since floating with its buy and build strategy in social housing maintenance and gas services. Atkins has added little to what the market knew already, which is right given the attention it has received recently.
Read more...