Site still under construction.

Just the way I like a company, involved in all the nasties. Forward P/E of only just over 7 and has plenty of cash and assets proping it up. Held the share for over a year now but it looks from the chart that its breaking out once more. Well worth keeping an eye on this one, especially in uncertain markets were it seems to do well. Not a fashionable stock so theres not much research around, but its certainly got a very strong balance sheet. A good strong management team aswell.

Used to be called Montpellier Group MPL.

CHIEF EXECUTIVE'S REVIEW as at last results to 30/9/2005.

In the period to the end of the financial year, and subsequently, I have visited
all of our subsidiary businesses, met our senior staff and visited a large
number of our projects. These visits have enabled me to undertake a detailed
assessment of the performance and prospects for each business. The majority of
the Group's businesses have been profitable for many years and trade under
well-respected and long-standing brand identities operating in selected markets,
defined by specialist activity, regional knowledge and experience.

This review process has enabled me to gain a full understanding of the Group's
businesses and agree with the Board a strategy for the Group going forward.
This is fundamentally a development of the Group strategy which was implemented
last year, focusing on the specialisms of our constituent brands which sets them
apart from others in the market. As mentioned in the Chairman's Statement it is
proposed to change the Group's name to Renew Group Plc to better reflect this
strategy.

The Group's specialist areas of activity are:

Land remediation
Nuclear decommissioning
Social housing
High quality residential
Structural refurbishment
Restoration
Retail
Science and Education
Rail infrastructure

These markets have good future prospects and the Board will look to grow the
Group's operations in each while building on client relationships which have
been developed over many years. All the Group's businesses will continue
developing these relationships to ensure longer term working arrangements and
increased repeat and negotiated business.

Key to the Group's strategic objectives is having an effective and efficient
executive control in place. I have formed an Executive Management Committee
comprising the Managing Directors of the subsidiary businesses, who will all
report directly to me. This new committee will co-ordinate the strategy, across
the Group, sharing knowledge and best practice, and continue to implement key
processes to ensure that we effectively manage all our risks and safely deliver
high quality services.

In addition, control will be enhanced by regular visits to the individual
businesses by me and my senior financial and commercial colleagues to ensure
that all controls are being implemented and that Group policies are communicated
widely.

The specialist differentiators within the Group give us an excellent opportunity
to develop the business further and I am confident that we will deliver reliable
and growing profits in the years ahead.



DYOR.

cheers GF.

Nice to see increase in sp to 120p after broker upgrade in 2008 profits and EPS which is now forecast at 11.9p, still looks too conservative imo.

SP moving in right direction up 3.5p to 119 on the back of strong transactions, hopefully the start of a re-rating. We may have to wait for further broker upgrades, the 2006 forecast seems fair enough but the 2007 forecast looks to have plenty off scope to increase.

I wouldn't be surprised to see PBIT = 10.7M and EPS = 17.78p for 2008.

Check out the trades so far today, started with small buys of 38k upto 10:20, then after this time three very large sell orders just over 4 Million. Yet sp firms by 2p, looks very interesting.

Any ideas anyone.

The large sale on 19th was Goldman Sachs selling 3.651,20 or 6.10% now have below 3%. Stange this because I can recqll an announcement 25th Jan 2007 stating that due to transaction Goldman Sachs no longer have notifiable interest. Maybe they use Renew to trade in and out of ?

Trading statement out today, see below.

Renew Holdings plc
('Renew' or the 'Group')

Pre-close Trading Update


Prior to the end of its financial year on 30 September 2007, Renew is providing
the following update on trading.

The Board confirms that good progress has been made in the Group's Specialist
Engineering and Specialist Building activities during the second half of the
year. Trading has been satisfactory, and the Board believes that this will
result in a profit before taxation for the year, of not less than 7.0 million.

Furthermore, the Board is pleased with the integration of Seymour (Civil
Engineering Contractors) Limited, the water engineering services provider
acquired on 26 July, into the Group's existing Specialist Engineering
activities.

Renew's annual results will be announced on Tuesday 27 November 2007.

sp down 3.75 to 105 today on continued selling pressure, drifted down from a high of 120 a few months back. With finals due 28th November I'm hopeful this will stop the rot, still holding most of my original shares and shouldn't be stop/lossed out before results.

This will probably prove to be a good buying oppotunity, but I never average down, have learnt my lesson in the past.

Is anyone still in this stock.

Chart looks a bit sick!

Agreed charts show price has moved sideways and now drifting down since the end of April. But the fundamentels are still looking strong imo, 28th November should put a floor under the sp and then hopefully we may have some upgrades afterwards. Or I could be wrong.

Stopped out of this one, the sp has fallen from 110 to 94p since Thursday on very heavy selling pressure. Frustratingly I can't find any information as to why this has fallen so quickly, so if anyone still holds these lets hope the results are as forecast. Good luck.

At least I have more cash for any bargains in the next few month's.

Renew has suffered with all the other small caps, and also being to an extent a cyclical company hasn't helped. I'm out of most small caps at moment, including this one, but I will be looking to go back in at bottom of this downturn, maybe 12 to 18 months. Renew are stuffed full of cash 25m, and still trading well.

See todays trading update below.

Renew Holdings PLC said its first-quarter trading has been satisfactory but it remains confident of reporting full-year results that are in line with market expectations.

The specialist construction company said its order book at Dec 31 stood at 261 mln stg.

Renew said it is continuing to pursue suitable acquisitions to add to its specialist engineering business.

The company said it will announce its interim results on May 20.

Time to look at an old favourite again.

I have gone back in again after noticing something very interesting in January, I had been holding fire since then, in the hope of some price weakness which has now happened. The reason is a fair chance of a takeover. Now I have taken a position see below.

5th November 2008 - The Times reports speculation in the city of potental bid, the price increased to 65p then drifted down to mid 40s.

7th January 2009 - I came across an RNS statement, saying that Onet Group (Leading nuclear specialist in France) had brought Gravatom (British based nuclear engineering firm) for undisclosed amount.

7th January 2009 -
Renew CEO Brian May buys 100,000 @ 46.5p, now holds 255,000.
Renew FD John Samual buys 50,000 @46.5p, now holds 180.000.

In context of there holding these were significant purchases, and by buying on the same day as the Gravatom takeover announcement, I'm sure they think there is a good chance of a takeover of Renew, and would be receptive to one. The two Directors haven't had any return yet on these purchases, but seem prepared to wait.

I have seen no comment on the above news, and the link between them, maybe it just slipped through the net. But I'm sure they are linked.............. DYOR..........

MIDAS SHARE TIPS: Change of focus brings 95% profit boom at engineer RenewBy Joanne Hart
PUBLISHED: 22:08, 16 June 2012 | UPDATED: 10:35, 18 June 2012

..Maintenance work might not be glamorous, but in times of austerity a business whose work comes in regardless of economic conditions stands out from the crowd.

Misunderstood Renew Holdings is widely associated with its 200-year history in construction, but this is misguided as the company is focused on essential maintenance work.

It should also benefit as customers cut back on capital spending and instead look after existing infrastructure for longer.


In the swim: Renew builds indoor pools at top homes
Last month, determined chief executive Brian May, who took the helm in 2005, announced a 95 per cent surge in underlying pre-tax profits to £4.4million for the six months to March 31 and a 40 per cent increase in the engineering services order book to a record £229million.
The company knows these orders will come in over the coming months and its confidence in the future was highlighted by a five per cent rise in the interim dividend to 1.05p, the first half-year increase since 2008.


More...MIDAS UPDATE: Shares rise 61% since our tip at confident RPC
FUND FOCUS: Continental optimism despite the euro crisis

May is ambitious for Renew and has set a number of targets for the next two years. He has a clear strategy for growth and the shares are almost certain to respond.

First, he wants to increase turnover from £350million to £500million by 2014 through organic growth and acquisitions. Second, he wants to raise profit margins from 2.5 per cent to more than three per cent. And third, he wants to increase Renew’s focus on engineering services.
In 2005, this accounted for 15 per cent of group turnover. Today it accounts for 60 per cent and May intends to boost that to 75 per cent by 2014.


Determined: Renew's chief executive Brian May
Originally known as YJ Lovell, the company, based in Aberford, West Yorkshire, spent most of the past 200 years in construction, with engineering playing second fiddle.

When May joined and changed the name to Renew, he set out a plan to reduce its dependence on building and increase its engineering presence. A number of strategic acquisitions took place and non-core, unprofitable divisions were sold.

Today the company is firmly focused on two solid sectors – specialist building and engineering, particularly the provision of essential maintenance work.
On the building side, Renew has two arms. It is a leading social housing contractor in London and the South-East and, at the other end of the spectrum, a specialist in complex residential building work for multi-million pound houses and flats in central London.
Projects include indoor pools and private underground car parks, each requiring top engineering skills as customer expectations are high and neighbours will not put up with too much disruption.

Renew’s technical expertise comes into its own not just in the London property market but in its engineering services business, which covers three main sectors – environmental, infrastructure and energy.

Clients include Sellafield nuclear power station, Network Rail, Northumbrian Water and London Underground. In each case, Renew is responsible for repairs that simply have to be done, either for regulatory reasons or to keep infrastructure up and running.

With Network Rail, for example, it covers every aspect of maintenance except repairing the tracks, from mending bridges and fixing tunnels to removing foliage.
At Sellafield, the group carries out specialised maintenance and decommissioning work, often involving extremely hazardous waste. It also cleans contaminated land for the Environment Agency and it helps to maintain wind farms and power stations for energy companies, such as EDF and SSE.

Engineering contracts tend to last a long time so the company’s prospects can be more easily monitored and the business is generally more profitable than building, so May’s strategy makes sense.

Midas verdict: Many brokers still associate Renew with the construction sector, so it is undervalued by the market. But this should change as May pushes ahead with his growth strategy. At 75p, the shares are a buy


Read more: http://www.thisismoney.co.uk/money/investing/article-2160308/MIDAS-SHARE-TIPS-Change-focus-brings-95-profit-boom-engineer-Renew.html#ixzz1yhTlXZwi

CockneyRebel 13 Jan'06 - 10:16 0 0

Charts

Long Term Chart

Fundamental Data
Sector CONSTRUCTION & MATERIALS
Mkt.Sector AIM Mkt.Segment AIM
Turnover 337 Profit 8.42
Norm EPS 7.90 PE Ratio 11.14
Market cap 52.71 NMS -
News
27/11/2012 07:00 UKREG Renew Holdings PLC Preliminary Results
26/11/2012 07:00 UKREG Renew Holdings PLC Holding(s) in Company
20/11/2012 10:09 UKREG Renew Holdings PLC Holding(s) in Company
13/11/2012 09:53 UKREG Renew Holdings PLC Framework award

A new thread for the new name which took place today after yesterdays AGM

Websites:

http://www.montpelliergroup.plc.uk/



http://www.britanniaconstruction.co.uk/index.htm

http://www.vhe.co.uk/

http://www.walterlilly.co.uk/index.php?document=1

http://www.allenbuild.co.uk/



CR

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Miss Anne Thrope 27 Nov'12 - 09:36 - 4803 of 4813 0 0

I wonder how much ` contractual claims expectation of payment`is on the books, not that it will be easily available to private holders.

lignum 27 Nov'12 - 10:07 - 4804 of 4813 0 0

WJCCGHCC - there's only small (1.4m) outflow on working capital but I agree there are some huge working capital balances particularly around construction contracts where we are dependent on the company's internal controls (and auditors review).

In particular I see Note 13 to the 2011 accounts which shows a net receivable of 68.8m on construction contracts representing 3.25Bn of work done to date less 3.18Bn of billings to date under contracts. With total annual revenues of 337m (including shorter term specialist building revenues) this suggests that most of the revenues accrue under contracts which have run for more than 10 years. This gives me comfort that (i) the customer must be happy with RNWH as supplier (ii) the processes for controlling, reviewing and auditing these contracts must be well established.

Rationalising the construction contracts in progress balance suggests they are carrying around 90 days of unpaid work but this is offset by accrued income in creditors. Both debtors and creditors reduced by around 10m in 2012 so presumably they have settled up some contracts and offset cash received in advance against construction contract work completed - we'll need to see the full R&A to get the details.

interceptor2 27 Nov'12 - 10:12 - 4805 of 4813 0 0

Brought in here this morning. Have been watching these for years now, since I first held in appx 2006.

Results were very strong imo. I like to use the EPS figure of 11.9p, this doss exclude the loss on discontinued business, but includes amortisation of intangibles. I think this figure gives true reflection on how they really performed, and gives a good idea to how brokers should increase their estimates.

Pleased to see net debt continues to fall, and net margins continue to rise. They are 2.1% now, which may sound on the low side (nature of business) but the highest level achieved since 2006.

ic2...

hvs 27 Nov'12 - 10:18 - 4806 of 4813 0 0

They comes and they goes buy Brian May is a STAR

SoundBuy 27 Nov'12 - 10:25 - 4807 of 4813 0 0

This am.

RNWH Panmure Gordon Buy 87.50 82.00 Tp. 100.00p Tp . 100.00 Reiterates

RNWH Numis Buy 87.50 82.00 - Tp. 110.00p Initiates/Starts

rivaldo 27 Nov'12 - 11:51 - 4808 of 4813 0 0

And WH Ireland have increased their valuation to 130p:

http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=20525295

"Renew Holdings: Numis initiates with a target price of 110p and a buy recommendation. WH Ireland raises target price from 125p to 130p, buy recommendation kept."

SoundBuy 27 Nov'12 - 13:15 - 4809 of 4813 0 0

RNWH N+1 Singer Buy 87.00 82.00 Tp 120.00 Tp. 120.00 Retains

penpont 27 Nov'12 - 16:14 - 4810 of 4813 0 0

From IC who update with a BUY rec.

"We are materially undervalued," said Brian May of Renew (RNWH). Of course, as chief executive of the engineering services group, he's expected to say that. But in this instance he has a strong case. Following a major reorganisation of the business from construction to engineering services, Renew announced a 22 per cent rise in underlying pre-tax profits to a record £10m, falling debt levels and a rising dividend. Moreover, broker N+1 Singer has raised current year adjusted pre-tax profit estimates from £9.9m £10.3m, giving EPS a 11 per cent boost to 13.3p.

Last year's acquisition of Amco has accelerated the shift of Renew's business and the engineering services division reported adjusted operating profits up £2.1m to £9.6m, on a 24 per cent rise in revenues to £214m. The £15m loan taken on to fund that deal is also quickly being paid back and net debt was cut from £6.8m to £5.5m.

The outlook is good as well. Maintenance and decommissioning work at Britain's ageing nuclear sites such as Sellafield was behind a 50 per cent-plus surge in the energy order book, which secures all that division's revenue for the year ahead. Spending is also being increased on maintaining Britain's rail network, which boosted Renew's infrastructure order book by 23 per cent to £74m. The specialist building business delivered double-digit operating profit growth on much improved margins as the unit withdrew from public sector building work in the north of England.

harrogate 27 Nov'12 - 17:08 - 4811 of 4813 0 0

Let's see if he puts his hand in his pocket to show how undervalued!!

2006stocktaker 27 Nov'12 - 17:19 - 4812 of 4813 0 0

Numis: Renew Holdings (Buy, TP: 110p) Initiation of coverage

We initiate coverage of Renew on the back of a good set of full year results, which is testament to the success of the model to date and also what we see as the attractive outlook the company faces. We also outline a target price of 110p which offers good upside in the share price - even though at this target price Renew would only trade in line with new-build companies in the built environment (where conditions are presently more challenging), and therefore still a discount to other built environment related services companies. We initiate with a Buy recommendation.

• Full year PBT of £10m to September 2012 was some 22% ahead of last year and above current year consensus estimates of £9.5m. We publish estimates here for the first time as we initiate on Renew.

• The strong improvement in EBIT (+30%) and PBT was in part due to the benefit of the Amco acquisition. We believe that organic growth for the Engineering Services - as the major driver of the group - was +4% last year and we expect this to be sustainable in the current year, notably as Energy and Rail showed strong growth over the year. Indeed, the Engineering Services orderbook rose 31% in the year with the key factor being the nuclear orderbook which increased 51% and accounts for 46% of the divisional orderbook.

• Renew's focus is into providing maintenance and renewal services into low discretionary areas where opex needs to increase over time - energy/nuclear, environmental/water and infrastructure/rail as the major areas. Moreover the group provides high technical services where procurement routes are adapting. This should lead to sustainable organic growth, which with margin mix benefits gives the group a resilient growth profile relative to other companies in the built environment universe.

• In our view this provides a major opportunity as Renew is currently valued at a P/E discount to UK building services companies, and even to construction companies with higher new-build exposure where the current outlook is clearly challenging. This seems harsh given that Renew is clearly demonstrating both revenue growth and margin gains as its business model takes effect. Our target price of 110p is based on a 2013E P/E of 8.0x, which is not demanding given that some two-thirds of group exposure is into non-discretionary maintenance work where we believe growth is underpinned.

sammy_smith 27 Nov'12 - 17:32 - 4813 of 4813 0 0 edit

Audio interview with Brian May, Chief Executive Officer, and John Samuel, Group Financial Director.
Brian May, CEO, and John Samuel, Group Finance Director of Renew Holdings, discuss the preliminary results for the year ended 30 September 2012. The record financial results were a result of a constantly growing order book and large opportunities for growth remain.

Click the link below;
http://www.brrmedia.co.uk/event/106917/brian-may-chief-executive-officer-and-john-samuel-group-financial-director

If renew only achieves a profit performance 3% ahead of this year it will hit broker targets. That leaves the shares , on a 6.6 times forecast earnings , too lowly rated.

Renew Holdings

LINK

anyone still looking at this thread? here's a nice overview of their acquisition by the CEO presentation

Excellent chart.

12 Aug 2013 Numis Add 121.50 113.50 - 130.00 Reiterates

Great performance.