Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on GALLIFORD TRY PLC. We currently have 5 research reports from 2 professional analysts.
|21Feb17 07:00||RNS||Half-year Report|
|01Feb17 14:00||RNS||Total Voting Rights|
|01Feb17 14:00||RNS||Block listing Interim Review|
|01Feb17 11:00||RNS||Notice of Results and Strategy Presentation|
|17Jan17 16:00||RNS||Holding(s) in Company|
|05Jan17 15:00||RNS||Total Voting Rights|
|02Dec16 12:00||RNS||Holding(s) in Company|
Frequency of research reports
Research reports on
GALLIFORD TRY PLC
GALLIFORD TRY PLC
Chill for agents, spring in housing volumes
24 Nov 16
Yesterday’s Autumn Statement appears to be: good for 'alternative' housing providers, UK-focused contractors and materials producers; potentially problematic for mainstream housebuilders; and bad news especially for lettings-dominated agents. Chancellor Philip Hammond’s key spending measures included an additional £3.7bn funding to boost new housing volumes and £1.1bn for roads. Shares in estate agents, however, have fallen in response to the threat to ban them from charging fees to tenants.
15 Sep 16
"With polls narrowing enough to suggest that Clinton’s lead over Trump ahead of the November 8th presidential election is now just 3 points, traders have finally started to ask the unanswerable - which will be the winners and losers? Quite a quandary. Market anticipation of the Republican candidate winning would be a severe heightening of the market’s greatest phobia, uncertainty and rising risk aversion. The first signs of this were evident overnight, not helped by FOMC conflict seemingly projecting stalemate at the Fed, as the US$ fell and bonds gained. This, in fact, follows the established historical pattern of the currency reacting more favourably to a Democrat in the White House. US equities that started their session strongly, gave nearly everything back by the close with only the tech-heavy NASDAQ registering a reasonable gain while energy stocks continued to weaken following continued US inventory build, the IEA report that foresaw the current supply glut continuing into 2017 and whose argument is being boosted by news of planned export resumption from both Libya and Nigeria. Asia was similarly mixed with the Nikkei the principal casualty on the back of stronger Yen due to forex traders switching US$ positions, while China was closed and gently selling of commodity stocks weakened the ASX. A number of market sensitive macro releases are due today, including the Eurozone inflation report and retail sales data from both the UK and the US. UK corporates due to report earnings include Morrisons (MRW.L), Next (NXT.L), Ophir Energy (OPHR.L), Tribal Group (TRB.L) and a Q2’16 update from Booker Group (BOK.L). Later in the UK trading session, the Bank of England is also due to disclose its rate interest decision; having told the markets last week that “we are very much not out of ammunition, nor are we trigger happy” Governor Mark Carney effectively added to traders’ growing doubts regarding the effectiveness of prospective central bank policy against a global backdrop of weakening growth. No change in the UK base rate is expected today. The FTSE-100 is seen down some 20 points in early morning trade. " - Barry Gibb, Research Analyst
13 Jul 16
"With the UK market awaiting the new era of Prime Minister May and what it might mean for big business, economic stance and European policy, London markets are expected to be modestly down today. The FTSE-100 seen opening 25 or so points in the red. Seeking leads from elsewhere, investor will more likely be led by international sentiment. Various Fed speakers yesterday afternoon outlined their vision and concerns for the US economy, concluding that while it was still too soon to judge the overall impact of Brexit and that uncertainty had increased (Mester), they also concluded people remain cautiously optimistic (Kashkari). Taking a hint from this while anticipating the current standstill on interest rates will remain in place for a little longer, the Dow broke through its previous closing high of 19th May while the NASDAQ also turned positive for the year as traders renewed their push into riskier and growth stocks once again. Asian equity markets also chalked up further gains across the board on Wednesday, again supported by investor belief that Japan is considering an aggressive form of policy easing to jumpstart domestic activity. Excitement was tempered when the Japanese government denied speculation it was prepared to instruct the BoJ to directly finance spending or tax cuts, but the Nikkei still ended the day strongly ahead. While UK data watchers can expect release of the Bank of England's Q2 survey and the RICS Residential House Price report this morning, the US only contributes its weekly petroleum status report this afternoon. Another Fed speaker, Robert Kaplan is also expected to outline his view of US financial wellbeing, while UK media will likely closely follow further updates on the Labour Party leadership crisis, following Mr Corbyn's automatic qualification for forthcoming ballot.
Root & branch review – early margin positive
23 Feb 17
Unilever (ULVR LN, HOLD, T/P 3800p) announced yesterday that it will publish the findings of a root and branch review in April 2017. This is stated as being a result of the recent approach made to them by KraftHeinz (KHC US, N/RO), an offer which quickly lapsed.
A compelling global brand roll-out story
22 Feb 17
We believe that SuperGroup remains one of the most undervalued global brand roll-out stories within the UK retail sector. The stock trades at c20% discount to its UK peers on a 1YF EV/EBITDA basis despite best-in-class revenue growth and profit margins. SuperGroup operates a leading multi-channel proposition, has strong sales momentum across each channel and forecast risk remains on the upside. We initiate coverage on the shares with a buy recommendation and price target of 1898p, implying upside of 27.8% over the prevailing market price.
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
Rolls out NGP, sees another good year of performlance at constant FX
23 Feb 17
FY update: sales are up +6.9% at constant FX (cons. +6.3%, Q4: +3.3%) and +12.6% at current FX (helped by weaker sterling). Group cigarette volume was up +0.2% (cons. +0.8%, Q4: -1.9%) with a 0.8% decline on an organic basis outperforming the industry, which was down by around 3%. Price mix was above 6%. Global Drive Brand (GDB) portfolio volume was up 7.5% with the market share increasing 100bp (GDB now accounts for 49% of the group’s cigarette volume). The operating profit was up +4.1% at constant FX, and the operating margin contracted by 90bp on reported figures on unfavourable transactional headwinds. The net profit is up 8.3%. The FY dividend is up +10% to 169.4p. For FY17, the group remains focused on the integration of Reynolds (deal expected to close during Q3). The company awaits another good year of growth at constant FX with profit growth skewed to H2.
Carlos Ghosn steps down as Nissan's CEO
23 Feb 17
Renault’s CEO will remain Chairman of Nissan’s Supervisory Board and CEO of both Renault and Mitsubishi, in which Nissan bought a 34% stake in 2016. Carlos Ghosn successfully restructured Nissan late in the last century, but the company has taken over a minority stake in ailing Mitsubishi and, in late 2016, Renault acquired a majority stake in loss-making Russian Avtovaz. As Ghosn’s track record has been so positive, investors believe that he can also restructure these two latest ventures so that both will eventually generate positive earnings. While the Mitsubishi numbers are consolidated at-equity by Nissan and its results at-equity by Renault, the 2016 Avtovaz balance sheet has been consolidated on 31 December 2016, but the P&L will start to burden Renault’s operating earnings from this year onwards. The Russian car producer does not expect positive operating earnings before impairments and restructuring charges before 2018.