Kier Group Live Discussion

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Thunderjack 18 Nov 2019

Glad to see you're all over that phone bill. Really shocking, paying an exec's phone bill for a few months after he's left. What a terrible company.

stutes 18 Nov 2019

Top Brass pay How can any business that has imposed a nil dividend give a pay hike to incoming top brass? If there is a shortage of jobs for top brass to apply then K should have been able to secure CEO/CFO at a discount to former directors? What about share options, benefits in kind? Why should any director have their broadband paid for by shareholders: do shareholders pay for individual staff broadband - let’s have one standard.

stutes 16 Nov 2019

Interserve [link] Are we not seeing a breakup of K, caused by poor decisions by the Board? What about recovering bonus and awarded shares?

stutes 16 Nov 2019

Top Brass pay Weekend papers report on top brass remuneration package being voted down by shareholders. How can any company that has seen 90% drop in price employ CEO/CFO on significant increase in pay? They need to show they can create value before asking for pay hikes. Why should K pay for Ditectors’ broadband when broadband is likely shared by the director’s family?

Thunderjack 15 Nov 2019

Yes, a good return and working capital are easily achievable. Over £4bn in revenue, even without the residential business which is up for sale. £65m in retained dividends (not paying out to shareholders). Rights issue of £250m earlier this year. Some assets already sold (overseas business, office buildings and land etc) and more up for sale. The new management is building cash and will easily fund the business. Even the debt is not high; group net debt of £165m (on turnover of £4bn plus, this is tiny) and average monthly debt of around £420m, which is half of the debt financing available to Kier. The business is even recession proff ot a much higher degre than thewider industry; most of Kier's customers are regional authorities who have already contractually committed to their schools, hospitals, and roads projects.

stutes 15 Nov 2019

AGM update In selling K Living, K Property (whole or in parts), Tempsford and London HQ, not paying a dividend, can what’s left generate a fair return and build cash to fund working capital?

stutes 15 Nov 2019

Management change timing [link] In announcing the departure of COO on the day of AGM and that departure is same day it could create a situation where shareholders wonder why now rather than earlier?

stutes 15 Nov 2019

AGM update K is trading in line with expectations. What I don’t understand is how outsourcing some work it remains a saving in the medium term? How can K increase turnover with fewer staff and how much is this through passing the work to freelance/consultants or subsidies?

stutes 14 Nov 2019

AGM update Tomorrow should the day m K provides clarity on timing of sales of non core assets, ongoing support of lenders, debt position and why Tempsford is up for sale after having a recent office extension?

Thunderjack 13 Nov 2019

Massive fall in share price over the last three days; almost 25% down from 110 last week to 86p this morning. Rumour driven as far as I can see, but Davies is going to pretty stupid on Friday asking shareholders, who are watching the value of the business plummet under his management, to vote for his big bonus deal. They might as well tell him to resign. Maybe he's about to get the Kier Living deal signed off today or tomorrow and will be able to go into the AGM head held high.

Thunderjack 13 Nov 2019

Assets were sold fast; the Australian Kier roads business sold; land and properties sold all over the UK, including £25m for one office block in central London. Kier Living sale is imminent with Lone Star named as a contender. Motleyfool bloggers in my experience are just amateurs and paid advocates a lot of the time. Probably in league with hedge funds shorting kier (most of whom are exiting their shorts).

stutes 12 Nov 2019

Motley Fool In a blog piece K is noted as being slow in selling off non core assets. I think it is a fair comment, compare how quickly K tapped shareholders after announcing rights issue and then ask what is delaying the sale of assets?

stutes 12 Nov 2019

VolerWessel Shows turnover is not always best; VW turnover circa €5bn to €6bn and is valued circa 5 times more than K.

Thunderjack 12 Nov 2019

If the share price is any indication, it looks as though some kind of disaster has overtaken Kier. Almost 20% down in 3 days. AGM is on Friday; we will hear then whether it's just rumour or facts that are hitting the share price. However, a public company with Kier's recent record on share collapse should really be responding a bit more promptly with an RNS today or in the morning, especially if Davies wants to avoid walking into a room of very hostile institutional shareholders and then expecting them to vote through the board's pay deal.

stutes 12 Nov 2019

VolerWessel [link] If K’s medium to long term goals are better served away from plc status then perhaps it should go private at a fair price?

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