Stephen Rawlinson
22 March 2017 · 2 min read

Market Commentary - Housing, Infrastructure, Construction and Services 22nd March 2017

Redrow has issued an unexpected trading update today and has organised a visit to its Colindale site on 4th April and Kingfisher’s final results for the 12 months to end January 2017 are released as expected.

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Stephen Rawlinson
21 March 2017 · 2 min read

Market Commentary - Housing, Infrastructure, Construction and Services 21st March 2017

Mears and Bellway provide results this morning, the former its full year numbers to end December 2016 and the latter interims to end January. There was very little movement among sector stocks yesterday. The sector is currently becalmed as the puzzle of what post Brexit Britain might look like unfolds.

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Stephen Rawlinson
20 March 2017 · 2 min read

Market Commentary - Housing, Infrastructure, Construction and Services 20th March

News today comes from Michelmersh, the small UK brick maker, with its finals, JLIF, also with finals, Volution with its interims and Carillion with news of a £90m construction contract in Cyprus to build a communications centre for the MoD’s Defence Infrastructure Organisation (DIO). No news on the Bovis/Redrow/Galliford Try front.

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Stephen Rawlinson
17 March 2017 · 2 min read

Market Commentary - Housing, Infrastructure, Construction and Services 17th March 2017

Berkeley Group’s trading update this morning emphasises the turbulence it has faced in the last 12 months (since the rises in Stamp Duty). There are three key messages Balfour Beatty was the backmarker yesterday with a 4.3% fall to 271.8p.

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16 March 2017 · 2 min read

Market Commentary - Housing, Infrastructure, Construction and Services 16th March 2017

Balfour Beatty has announced its results for 2016 and Serco has bagged one of its “Elephant” contracts, becoming the preferred bidder on the 20 year/£1.6bn contract for the new Grafton correctional centre in NSW Australia.  Babcock was the best gainer yesterday rising 2.3% to 914p as investors were reassured by the presentation on the new reporting structure.Serco’s news is very positive and adds to its reputation for winning big projects under the new team

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Stephen Rawlinson
15 March 2017 · 2 min read

Market Commentary - Housing, Infrastructure, Construction and Services 15th March 2017

It’s a day for the heavy side materials producers to report. Forterra and Marshalls have delivered their 2016 results this morning. Forterra had a revenue increase of 1.5% last year to £295m and underlying EBITDA rose 4.6% to £71m. Marshalls shows revenue up 3% in 2016 at £397m and EBITDA up 17% at £61m. As a consequence of those improvements and lower interest charges and tax rates EPS rose by 32% to 18.95p (consensus was at 17.8p).

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