- Looks to be a good way to leverage the massive ongoing increases in public spending....
- Formed in 2003 by the merger of road management company Mouchel and engineering consultant Parkman Group, this group now provides a range of support and engineering services to public-sector bodies in Britain.
- Mouchel Parkman helps to manage and maintain infrastructure such as road and rail networks, public buildings, waste sites and gas and water supply. It also builds and runs schools.
- Customers include London Underground, National Grid Transco, BG, United Utilities and Centrica as well as central and local government.. 60% of its revenues come from local authorities and 95% from the public sector in general.
- For the year ended 31 July 2008, revenue growth of 46%, increasing sales to £656.7 million and strong organic revenue growth of 14%. Underlying operating profit up 27% to £41.7 million. Operating margins as expected at 6.4% following acquisition of HBS (2007: 7.4%).
- As of end November, £2.1bn order book, which is equivalent to about three years' worth of revenues, and £2.0 billion bidding pipeline
- Mouchel has lost out on a number of high profile bids, including the scheme to widen the M25, but that's the way a tender business works. Other potential threats are the Middle East market weakening (but its exposure is much less than someone like Atkins).
- Financial position said to be reasonably strong. Bank facilities of £185 million, of which £125 million expires in August 2012 and £60 million in September 2009.
http://www.stockopedia.com/news/announcement/MCHL/081211mchl9235j.htm
http://business.timesonline.co.uk/tol/business/industry_sectors/engineering/article5303539.ece
