WORTHINGTON NICHOLLS-as expected, the old contract slippage problem creeps in!
So all the acquisitions can’t hide the fact that the promised contracts haven’t come through as expected!
First half pre-tax losses were £0.3m, as a result of contract slippage into the second half-could it be a sign of contract disappearance!
The house broker argues that the group stands on a compelling valuation despite being at a substantial premium to sector peers with a 2008 PER of 16.4x vs 14.2x. There might be great growth potential but they need to deliver and not merely though acquisitions. What about those peers that have delivered!
First half pre-tax losses were £0.3m, as a result of contract slippage into the second half-could it be a sign of contract disappearance!
The house broker argues that the group stands on a compelling valuation despite being at a substantial premium to sector peers with a 2008 PER of 16.4x vs 14.2x. There might be great growth potential but they need to deliver and not merely though acquisitions. What about those peers that have delivered!