Vulcan steel

[winner69]

STU is doing better.....no bank debts....$26m cash in the account n $11m ebit

STU profits down 50% as well though …tough industry these days

[winner69]

VSL trading 17x last 12 months earnings

About right at bottom cycle when PEs expand

[X-men]

Yes...profit down but....no debts....Vulcan has a lot of debts!!!

[winner69]

VSL trading 17x last 12 months earnings

About right at bottom cycle when PEs expand

But they did remind us that seasonally H2 is lower than H1 so full year profit might only be something like $45m … so PE of 22

Maybe a bit rich

[Leemsip]

Tough results... Cant see it imprving for quite a while. Building permits in NZ cratering.
I think this has quite a bit to drop before there is value.

[bull....]

having bit of a run at the moment , outlook must be good eh

[winner69]

having bit of a run at the moment , outlook must be good eh

Maybe some thinking they may get caught up in the corporate activity current in construction industry

[Lego_Man]

Maybe some thinking they may get caught up in the corporate activity current in construction industry

Based on my understanding of the business and the current state of the economy, i certainly don't get the current price action.

[nztx]

Maybe some thinking they may get caught up in the corporate activity current in construction industry

Wonder how the bad & doubtfull debts provisioning is going ?

If the number of building companies falling over & Com Property outfits writing back on creative revaluations is any indication - things wont likely be merry or exciting for a while in construction

On the back of a recessionary economy - only the most vibrant of companies out there is not going to be reviewing their forwards Capex very closely I would imagine..

[Davexl]

Maybe some thinking they may get caught up in the corporate activity current in construction industry

Perhaps a bit of anticipation of Fast-Track infrastructural decisions - looking forward...