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ACF, ACROW FORMWORK AND CONSTRUCTION SERVICES LIMITED
nipper
post Posted: Sep 11 2020, 05:07 PM
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In Reply To: doc-gt's post @ May 26 2020, 12:52 PM

This is old school stock picking...

https://finfeed.com/stock-of-the-week/acrow...-out-investing/



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
doc-gt
post Posted: May 26 2020, 12:52 PM
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In Reply To: nipper's post @ Dec 9 2019, 07:51 PM

Nice market update from ACF released after hours yesterday and reflected in today's bump in the SP. https://www.asx.com.au/asxpdf/20200525/pdf/...31k8cdrvfch.pdf

Many boxes ticked from what the company forecast for 2H FY 2020 back in December 2019. Better than anticipated cost savings and good upside from civil infrastructure works. All delivered despite the broader turmoil created by Covid 19 in other areas of the economy.

 
nipper
post Posted: Dec 9 2019, 07:51 PM
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From the AGM
QUOTE
We anticipate a considerably stronger 2H20, with a range of factors working in our favour including:
• a full six months contribution of Uni-span earnings, including the benefit of the first round of cost-outs;
• stronger results from Natform, primarily emanating from the Victorian market expansion;
• the profit contribution from the recently awarded Sun Metals contract; and
• continued growth in Victorian and New South Wales civil infrastructure revenues.

Longer-term we remain very optimistic for Acrow’s prospects. Industry forecasts point to buoyant transport infrastructure construction activity through to FY23, with a projected greater than 50% increase in value of work done, especially in the key growth markets of New South Wales and Victoria. We are also very encouraged by the Prime Ministers announcement of last week that the Federal Government will be fast tracking $3.8 billion in Road and Rail spend. This is very good news for our Business.
undemanding. Fragmented industry.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Dec 9 2019, 07:15 PM
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QUOTE
The $57m market cap Acrow Formwork & Construction Services (ACF, 33c) is suitably obscure, but its handiwork is evident on building sites across the country.

Acrow hires formwork and scaffolding to civil infrastructure and residential projects. In the case of formwork — the wooden framing to cast concrete and such — the equipment is offered on a “dry hire” basis (with no attached labour). In the case of scaffolding, Acrow provides the muscle to erect the structures.

Having reverse listed in April last year, Acrow has just completed its first meaningful acquisition: the $21m cash-scrip acquisition of Queensland-based Uni-span Australia.

In the 2018-19 year, Acrow turned over $71m with underlying earnings (EBITDA) of $11.5m. In the same year, Uni-span chalked up $34m on EBITDA of $4.8m, so the acquisition is a true company maker. At Acrow’s AGM late last month, CEO Steven Boland pointed to a first (December) half performance similar to the previous year’s, followed by a “considerably stronger” second half.

Bell Potter forecasts current-year sales of $93m, a net profit of $9m and a 2.2c dividend, implying a yield of 6.8 per cent.
- Tim Boreham



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
 



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