And there is no doubt that these are weak, the markets have been in rally mode the last two weeks and what has Atkins done..... not much.... With years of experience, Im happy with my long on Whitbread and short Atkins. As for talking tripe, well your entitled to your opinion, you said it yourself parts of Atkins business that have been hit hard and this will continue... the sector is not as strong as it once was.
Long term- massive growth potential as the acquisition in the US shows. Do what you want, with all the research you want.
Short term- I see weakness and the sp is chewing on key MAs, we are at a key Fib level and if markets turn next week, I intend to capitalise on the downside,
Time will tell,
Eddie-B, i'm pretty convinced that you do not have a clue about what you are talking about. Granted, there are parts of Atkins business that have been hit hard, notably the Water and Environment Sector, and parts of Highways and Transportation.
But one sector that is growing substantially is Atkins rail divison. If you actually did abit of research rather than a broad brush statement, you would know that there is a substantial amount of work coming out in the near future that will help support a company with excellent turnover and profit margin. Rail as an example, Cardiff Area signalling Renewal, Newport Area Signalling Renewal, Evergreen III, expansion in the Metro's business. Projects hich are unlikely to get cut as the funding is in place already for these, with Atkins at the forefront to secure these contracts. Water granted may be drying up (excuse the pun) accounts for about £40m. The middle east projects are starting to open up again ($3 trillion in infrasturcture projects coming up), a growing Indian Business, a growing presence in China.
There is absolutely no reason why this company will not return to to 1050p share price in afew years time. Given the background of other engineering consultancies going bust or near (white young green and Scotts) to return £190m profit during a recession is fantastic. I'm convinced that this company will continue to emerge resilient and strong, and am convinced that you are talking tripe.
Trading statement out tomorrow, unless there is an acquisition, this will plummet. Technically speaking, there is a bear flag in formation, with recent strength in the indices, ATK has not taken part. Fundamentally: more redundancies, cut projects/contracts. work is drying up...
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