Wozzitworthit wrote:Now we can all sit back and worry about UK/Russian relations and the price of Palm Oil. As far as Balfour Beatty goes, I get the feeling we all have shed loads of those ! A bit more choice would be nice - all suggestions welcome
I am fully loaded up with the Balfour Beatty prefs. A yield to maturity in a little over 2 years of around 6% for a pref with a company that is now profitable and paying dividends on the ords, is sitting on net cash of over £330m on the balance sheet and has an investment portfolio of £1.2b in infrastructure assets. Oh and their pension fund is in surplus.
They need £214m to redeem the remaining amount of the 1.875% convertible this year and about £177m in 2020 to redeem the pref. Something could always blow up of course, but as far as I am concerned these are still excellent value. Would buy more, but there is always the risk of something dangerous lurking somewhere...