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.
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.
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.
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).
The colour of the lines on the chart indicate the performance of the rating based upon the price at the point the rating was submitted. More information »
This user has not created any polls.