COF - Coffey International

[Garpal Gumnut]

It does amuse me that nobody has read or commented on the above post, with all the talk of re-organising ASF.

One can lead a horse to water, but how to make it drink. ! !

I continue to move up in the competition position and expect a win this month.

A chart.

gg

 

[craggles123]

I work in the industry and the word in WA is coffey's buisness is on a steady decline.

Wouldnt go near it.

 

[Garpal Gumnut]

I work in the industry and the word in WA is coffey's buisness is on a steady decline.

Wouldnt go near it.

Is that the present sentiment in the industry assuming no recovery in mining/exploration, or is it a feeling based on their recent strategy?

Thanks for the reply.

gg

 

[skc]

Now that's a knock out offer.... 42.5c when the last close is 18.5c. That's $109m plus net debt of ~$68m. That's an enterprise value of $177m.

In the FY15 report, COF reported NPAT of <$5m from continuing operations. So somehow someone in the industry is willing to pay some 20x PE for the acquisition.

P.S. I like COF's trading update showing revenue by segment and how it changes over the last 4 years or so. Revenue is halved in Geoservices overall, but mining and O&G has probably shrunk from $40m to $12m per quarter. It really illustrates the scale of the decline... geoservices tend to happen early in the project cycle (e.g. site investigation, foundations) and are typically shorter duration engagements. So COF feels the decline quicker than most other players.

 

[System]

On February 26th, 2016, Coffey International Limited (COF) was removed from the ASX's official list in accordance with Listing Rule 17.14, following compulsory acquisition by Tetra Tech, Inc.