Engaged in sourcing, producing, processing, handling and transporting carbon-based and other bulk materials throughout the UK and Europe, principal activities are the provision of haulage services, waste transportation, mineral import, mining and processing, together with specialist earthworks and related activities.
AGM Trading Update – An in-line statement with little other comment other than some directorate changes.
Nothing usually exciting about an in-line update.
30-Nov-2017 – 314.25p – £100.5m – PER 16.1
Trading Update For The 6 Months To End November 2017 – Expected to be in-line and expecting a stronger H2. Quite a confident sounding update.
All round this looks OK but it’s a little volatile. A dip to the 250p level (if we ever see it again) would make it much more interesting for me.
Subsequently revised Watchlist price, 270p.
14-Feb-2018 – 360p – £115.2m – PER 17.3
Interim Results For The 6 Months To End November 2017 – Underlying trading in-line with Revenue down to £150.3m (from £170.9m, Underlying Profit up about 10% from £2.1m to £2.3m. EPS is 2.7p and the Interim Dividend remains unchanged, 2.7p. Net Debt reduced by 40%+ to £20.6m.
Not sure if this is good news or not, it will remain on my Watchlist at 270p for now.