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SRG was STS M/S sector
Have bought pre results. DYOR not a recco
M/S sector has been hot lately.Lots of good results coming out;some cashed up; takeovers ahead?
Provides engineering and contracting services to the construction and mining Industries
SRG Ltd. engages in the provision of providing engineering and contracting services.
It operates through the following segments: Construction, Mining, and Corporate segments.
The Construction segment offers construction services, post tensioning, concrete placement, and remedial operations.
The Mining segment includes services mining clients and production drilling.
The Corporate segment represents the entity that conducts transactions relating to finance, taxation, treasury, corporate secretarial, and strategic investments.
The company was founded in 1961 and is headquartered in South Melbourne, Australia.
"SRG(formally STS) SP keeps on improving basically doubling in the last 12 months to a $78 mill MC. But delving deeper SRG with a recent property sale and upcoming FY results will have in excess of $30mill in the kitty giving it a EV of $45mill. Have flagged a FY NPBT of $8-9 mill. Very much a diversified play in mining/infrastructure. The chairman is a former Leighton MD. But the big one for me is this contract when known as STS."
No Debt
Approx 63 mill shares on issue mkt cap re $78 mill
3 of Management in Top 10 holders.
$150 million contract over 5 years below. Umbrella deal adds $110 mill.
http://www.asx.com.au/asxpdf/2015122...k6v68hz7y1.pdf
Broker Report
2016-06 Hartleys Limited
SRG awarded $8M silo contract at Hanson quarry 4/07/16
MARKET UPDATE - Strong Profit Growth in FY16
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Changes ticker and BOOM ...looks a great safer end of town holding .... be interesting how they invest their cash pile ...
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Think the mining service sector will have some big winners in time . MND got hammered yesterday on their result .
I like TPP in this sector and am currently holding . Looking to add more in this space .
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PDF FY 16
PDF 53% increase in NPBT & 4c final div
PDF Annual report
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S/P finished 7% up. Very happy to hold this for longer atp as work in hand already far exceeds last year plus the 5 year $150 mill contract with EVN and SRG is really just beginning its transition after laying foundations to adapt and change from STS. Stong niches including dams,a patented sure lock system and a huge Global pipeline, newish leadership,loads of cash and an EV of $60 mill.Im bullish.
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Up 13% since results as SRG is being rerated following results.Nobody else saw the value here? Sa La Vie:D
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Thanks for your great ideas and info JT. I've just had time for a glance and looks pretty good in terms of value, balance sheet and predictable revenue. Have you delved into management track record?
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Like what i see in the Bios in the annual report but can't remember and record various company management.Still waiting for someone to release a regular online rating / feedback/ history/success etc publication of CEO's,CFo's ,Directors ,chairmen and management. Be an investors bible.
ps a friend spotted this one and i agreed but it took a while.