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Kier Group (KIE)

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idpickering
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Kier Group (KIE)

#226387

Postby idpickering » June 3rd, 2019, 7:14 am

Update on trading, FPK programme, strategic review.

As highlighted in Kier's FY2019 interim results, the Group continues to experience volume pressures within its Highways, Utilities and Housing Maintenance businesses. In addition, whilst continuing to perform well with double digit growth in its orderbook during FY2019, the Buildings business' revenue growth for FY2019 will be lower than previously forecast.

As a result, Kier now expects that FY2019 revenue will be broadly in line with the Group's reported revenue for the 2018 financial year and currently expects that the Group's underlying operating profit for FY2019 will be c. £25 million lower than previous expectations and that the Group is likely to report a net debt position as at 30 June 2019, which would have an adverse impact on its FY2019 average month-end net debt position.

Against the background of the revised guidance in respect of FY2019, Kier will provide updated guidance for FY2020 with its FY2019 preliminary results announcement on 19 September 2019.


https://www.investegate.co.uk/kier-grou ... 00098891A/
Last edited by csearle on May 13th, 2021, 1:22 pm, edited 1 time in total.
Reason: Subject unification

daveh
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Re: Kier Group (KIE)

#226401

Postby daveh » June 3rd, 2019, 9:08 am

and from the BBC:

Kier shares have tumbled more than 22% after warning that profits will not meet expectations this year.
It said underlying profit would be around £25m below previous expectation. It blamed higher costs and problems at units in the road, utilities and housing maintenance businesses.
Last year Kier launched a reorganisation aimed at cutting costs and selling none-essential businesses.



Its in their daily business briefing here:

https://www.bbc.co.uk/news/live/business-48470910

and a quote from Neil Wilson is chief markets analyst at Markets.com in the same BBC page
Construction and support services is just not a place you want to be now. Margins are paper thin and the outlook offers little of real promise.

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Re: Kier Group (KIE)

#226403

Postby daveh » June 3rd, 2019, 9:11 am

Oops I'm not keeping up Kier are now down 40%. Fortunately not one I own, just checked GFRD which I do own and so far just a couple of % down.

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Re: Kier Group (KIE)

#226416

Postby JoyofBrex8889 » June 3rd, 2019, 9:48 am

Used to own these, but sold out as a precaution after suffering somewhat with Carillion.

40% dividend will tempt some yield seeking lemmings in to catch the falling knife. Until it is inevitably cut to save cash.

Expecting more howls of anguish from the HYP board as I know it was held by a few there at higher prices. It is now priced as if it may go bust- PE 2 is either superb value or total trash.

idpickering
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Re: Kier Group (KIE)

#226441

Postby idpickering » June 3rd, 2019, 10:50 am

I just mentioned over on HYP Practical that I did look at these a few years ago, but never bought. The sector is to fickle for me. Getting out of carillion before the end was scare enough for me.

Ian.

idpickering
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Re: Kier Group (KIE)

#226553

Postby idpickering » June 3rd, 2019, 4:40 pm

TMF's Alan Oscroft offers his thoughts on Kier here;

Is the Kier Group share price a falling knife to catch after its 40% crash?

In January, I was cautiously optimistic about Kier Group (LSE: KIE). The dividend was set to be cut right back as part of the infrastructure developer’s plan, along with a rights issue, to beef up its balance sheet.

At the time, I said: “Before I’d buy, I’d want to be convinced that the feared liquidity crisis has been averted, the mooted dividends look sustainable, and Kier’s performance is solid.”

Shock

And, wow, I’m so glad I waited! With a shock profit warning out of the bag on Monday, the Kier share price plunged 40%.


https://www.fool.co.uk/investing/2019/0 ... -40-crash/

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Re: Kier Group (KIE)

#230051

Postby Gengulphus » June 17th, 2019, 7:49 am

Kier has said that it is suspending its dividends, in the course of (and seemingly almost an afterthought to...) announcing the conclusions of its strategic ignorance - see https://www.investegate.co.uk/kier-grou ... 00064345C/. Because of the particular interest of dividend suspensions to HYPers, I have started a thread specifically about the suspension on HYP Practical, in viewtopic.php?f=15&t=18133.

Gengulphus

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Re: Kier Group (KIE)

#230083

Postby Wizard » June 17th, 2019, 9:24 am

https://www.bbc.co.uk/news/business-48660513

Troubled construction and services firm Kier has said it will cut 1,200 jobs to help make cost savings of £55m a year from 2021.
The company will sell its homebuilding business, Kier Living, and will shut or sell other interests, including its recycling and rubbish processing units.
Kier said it would focus on businesses including construction and road maintenance.
Shares in the company have fallen by more than 85% in the past year.
The shares fell a further 9% in early trading on Monday, to about 119p.

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Re: Kier Group (KIE)

#230175

Postby JoyofBrex8889 » June 17th, 2019, 3:34 pm

This is all looking wonderfully Carillion-esque.

I suspect the final reckoning here will see existing shareholders here wiped out.

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Re: Kier Group (KIE)

#230187

Postby JoyofBrex8889 » June 17th, 2019, 4:18 pm

https://www.theguardian.com/business/20 ... hares-debt

Nice little article here which chronicles the collapse.

In my opinion anyone still holding Kier in hope of recovery is probably just waiting for the coup de grace.

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Re: Kier Group (KIE)

#230189

Postby Dod101 » June 17th, 2019, 4:26 pm

Pity there are at least two threads going on this topic as a result of the double postings in company news and HYP Practical but there you go.

Dod

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Re: Kier Group (KIE)

#230190

Postby jackdaww » June 17th, 2019, 4:27 pm

JoyofBrex8889 wrote:This is all looking wonderfully Carillion-esque.

I suspect the final reckoning here will see existing shareholders here wiped out.


=====================================

yet another HYP selection down the drain.

and it was pointed out on these boards well before the carillion debacle thet low margin contactors were a nogo area.

:( :(

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Re: Kier Group (KIE)

#230192

Postby jackdaww » June 17th, 2019, 4:29 pm

Dod101 wrote:Pity there are at least two threads going on this topic as a result of the double postings in company news and HYP Practical but there you go.

Dod


==================

yes but at least its possible to point out the flaws of HYP without being reported .

:)

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Re: Kier Group (KIE)

#411605

Postby AsleepInYorkshire » May 13th, 2021, 11:28 am

Kier unveils plans for £241m cash call
Kier’s new shares will be issued at 85p each, a 17 per cent discount on its closing price yesterday of 102.4p. Kier’s total share issuance will more than double from just over 162 million shares to more than 446 million, diluting the existing shareholders by almost two thirds.

If I recall correctly Woodford was a large holder in this stock

AiY

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Re: Kier Group (KIE)

#411643

Postby monabri » May 13th, 2021, 12:44 pm

if it is as successful as the last call.... :o

Low margin companies.....avoid!! One screw up and it's a problem. I learned the hard way with the likes of Carillion. Just don't go there!

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Re: Kier Group (KIE)

#411644

Postby AsleepInYorkshire » May 13th, 2021, 12:52 pm

monabri wrote:if it is as successful as the last call.... :o

Low margin companies.....avoid!! One screw up and it's a problem. I learned the hard way with the likes of Carillion. Just don't go there!

30 years ago Kier were (iirc) French Kier. I think at one time they belonged to Beazer and or Hanson. They were very profitable and had a good name within the industry.

At some point they tinkered outside their core business and that's what I think we are seeing now. The end result of a daft idea and a lack of skills to support it.

AiY


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