Lack of new blood at the too [link] I suggest some of K’s problems may be down to K not nurturing the next generation of leaders.
Galliford Try Sunday Times K needs to address its credibility issue in the City and that means in my opinion sack the CFO and provide update on provisions, value for each business unit. Why should the low margin K construction unit be considered like GT’s unit - i.e., little or no shareholder value?
Galliford Try Sunday Times The article raised an alarm bell for me. The view of one quoted City analyst is that GT’s construction unit would have to be sold with a dowry and an indemnity for current contracts. The alarm bell is what value is in K’s balance sheet for the construction business and if sold or a standalone uniy, would it result in a similar dowry or large indemnity for shareholders?
Galliford Try [link] I suggest the lesson from GT is to concentrate on margin not turnover and to avoid too much work from one client
New Review Review started, sadly no news on CFO. 3 months of waiting for action…
Interserve accounts to be investigated Sorry wrong link copied. cityam.com – 11 Apr 19 FRC investigates Grant Thornton audits of Interserve Britain’s accounting watchdog has started investigating the audits Interserve by Grant Thornton, weeks after the outsourcer collapsed into administration.
Interserve accounts to be investigated [link] The fallout from Interserve continues to hang over construction sector. I still think K needs to show City that it isn’t another Carillion or Interserve in the making by: appointing a new CFO and for the new CEO/CFO to drill down on the Accounts to confirm there are no surprises like recent debt restated or contract provisions. The suggested health check should, in my opinion, go some way towards re-establishing City confidence in K.
My hope list for K I hope that come a week today the new CEO will take prompt action by replacing CFO and drilling down on the accounts
HMG sets prompt paymentrules [link]
Nice upward movement Still some way off 6p or £6 post consolidation - begs question how company is being valued on clinical updates?
MOUCHEL ACQUISTION KEIR… XXXX Just looking back to what i was thinking @ time , im sure i lost money on Mouchel years before . Looks like repeated mistake.
CEO quotes bank pulling exposure to 4 other contractors KIE… XXXX Do not have as many as i thought , saw i bought very high on 10th May 2016.
K should let CFO go First job new CEO should do, in my opinion, is to sack the CFO . The signal it gives to the City is obvious.
CEO quotes bank pulling exposure to 4 other contractors KIE… XXXX Tempted @ 340p today did not lift.
New CEO starts next week New CEO is likely to want to undertake strategic review, 12 wks long possibly, therefore share price set for the doldrums. Once the review is known the cost of restructuring the group will also be known.