CASTLEFORD TIGER
06 Jun 2018
Re: BOUGHT IN DEBT IS 6.3M v a turnover over 150mI don't see that as being too high.Should make about 6m this year so that's one years earnings.Cash conversion should improve.Once all these things do happen the price may well be over 100p.So if you wait you could miss out.It looks a good investment to me. ( but so did CVR )Tiger
sparks1962
06 Jun 2018
Re: BOUGHT IN Certainly cheap in comparison to previous share prices. A positive sounding report with some real action being taken that's for sure.I would really like to see a major increase in margins for this company and a reduction in Nett Debt (although I do take a hard line when calculating debt figures)Hope you are right that this spells the start of the recovery might dip my toe in and build up my stake as more details emerge which support recovery.
CASTLEFORD TIGER
05 Jun 2018
BOUGHT IN The recovery is underway.Looks far too cheap to meTiger
sparks1962
24 Nov 2017
Re: Sold Out Dodged a bullet with one it seems. Question is now do they represent a cheap by in opportunity?
sparks1962
26 Oct 2017
Sold Out After reviewing my Built Environment Portfolio decided to let go of WYG which is a pity as it is my last remaining consultancy holding in this sector.The poorer outlook in terms of new work coming through as per pmi figures which was confirmed today in the latest output figures does not bode well for WYG IMHO. If you also take into consideration projects not yielding expected margins (at the same time as their margins are wafer thin) combined with poor liquidity as a result of running down cash whilst growing recoverables and inventory it just seems too risky for me now.I think consultancies in general are going through a difficult period at the moment with a lot of client re-thinking projects and risks. The consultants I know are falling over backward to help clients re-jig projects involving re-designing and costing to determine viability levels. All this work is also expected to be done free of charge, all part of the service sort of thing.Will keep a watchful eye on how things pan out for the company and maybe pop back in assuming they survive a possible longer term recession in construction.
Another Jacko
09 Sep 2017
Re: Chairman just sold... Hi BlanketstackerI also sold out of these after the Chairman dumped over 1m shares as coming after a profit warning that is clearly a vot of no confidence in the company.
Blanketstacker
07 Sep 2017
Re: Chairman just sold... Or perhaps he realises that his £600,000 could be £300,000 in three months time? Seems a lot for tax purposes.
dazedandconfused
07 Sep 2017
Re: Chairman just sold... on the other hand, he got them for an option price of precisely Zero...so maybe wants to minimise his tax liability in future years (if they survive that long...again!)
Blanketstacker
07 Sep 2017
Chairman just sold... ...£600k worth. My tuppence worth is now gone too!
Blanketstacker
30 Aug 2017
Re: brokers not happy finnCap have given a downgrade, moving the target price from 120 to 80, but have kept the' buy' recommendation. Clutching at straws??????
CASTLEFORD TIGER
25 Aug 2017
brokers not happy I certainly would not be writing that note for it to be torn up just a few weeks later.Poor formtiger
dazedandconfused
25 Aug 2017
problems cleared out? New CEO spring cleans, and we all take a dousing for the earlier one being eternally optimistic in his views?? What i don't like is the short reference halfway through to some projects not achieving expected margins (or something similar); possibly the same guys in charge of under-bidding for consulting jobs several years back, doing the same again in order to keep turnover up?! Normally i would buy more on weakness, given the forward project income stream, but i've been bitten by this firm too often in the past.
WelshJew
04 Aug 2017
WYG tipped to see significantly higher valuation as legacy costs clear The broker set a new price target of 124p each and gave a 'buy' recommendation."WYG is well placed and is increasingly attracting sought-after talent and commercial partners.”Project manager and consultancy group WYG PLC (LON:WYG) could be set for some 30% upside, according to broker finnCap, which on Thursday gave the AIM-quoted stock a ‘buy’ recommendation.The broker set a new price target of 124p each.Analyst Guy Hewitt, in his initiation note, said WYG’s earnings growth and dividend would ‘in isolation’ command a significantly higher valuation, if it wasn’t for the cost of the group’s legacy issues.Hewitt forecasts around £3mln of further legacy cash cost, before operating cash conversion to rise from an average 26% for the past three years up to an average “WYG was substantially reorganised after the financial crisis and over the past three years has spent £11m to pay for vacant leaseholds, settle claims and pay redundancies,”He added: “WYG employs a team of 1,600 specialists from a diverse set of disciplines and is able to draw on a network of over 20,000 partners, associates and contacts globally.“While the markets served are competitive, WYG is well placed and is increasingly attracting sought-after talent and commercial partners.”Hewett, meanwhile, highlighted that recent takeovers in the sector have been pitched at much higher earnings ratios – namely WS Atkins (17x PE) and Waterman (18x) – compared to WYG which is presently valued at around 7.9 times price to earnings.
dazedandconfused
06 Jun 2017
board change at top So farewell to the chap who consigned private shareholders to lose all their investment in favour of city finance, with excellent targets for retained staff & directors; hope Robert McAlpine's (private) shareholders have their certificates safe. And welcome to the chap who dealt with Sweett's bribery case, and then sold them as a going concern at a share price well below previous decade levels! Bitter, moi..?!
dazedandconfused
05 Jun 2017
Re: another consulting engineer Brexits.... seems to have been a classic 'reaching too far, too fast' from their homeland case?; they became involved in a large Ballymore job in London and the Blackpool conference centre, had bought other firms to widen their skill set, etc. With £1m funding from a quango Foresight Nottingham being mentioned in NEw Civil Engineer report. A Scottish firm Land Engineering also went into administration at weekend, with loss of 135 jobs - signs of stress in the construction market, typical when it is in an expanding mode, but often bills don't get paid...
