#GFRD announce appointment to the DfE £15.4bn Construction Framework with lots secured above and below the £12m contract value. Framework runs for 6 years with options for two 1yr extensions. I think DfE announced this a couple of months ago with #MGNS winning 7lots.

#HTG noting the #BUCE RNS which didn’t seem to mention it was their tech…

Mello Birmingham 22nd April. Early bird tickets on sale and well worth the investment. A great opportunity to meet up in person. www.melloevents.com/mellobirming...

#BOOT. Appeal on a 1000plots won in Kent with just 19% affordable. Just one example of numerous housebuilder appeals currently going through the Planning Inspectorate. Strategic land banks are coming forward at a faster pace.

#MGNS FY TU. Record performance in 2025 and 2026 expected ahead of expectations. Record orderbook up 17% at £19.1bn. Fit out expected significantly ahead in 2026. Normally John Morgan prefers to under promise.

#BTRW H1 Results. “Resilient” performance - completions, revenue and ASP slightly increased. Reservation rate and forward sales flat, expects FY completions in line with guidance.

#W7L Cavendish leave FY26 estimates unchanged, news already priced in, reiterates Buy with 400p TP

#W7L Shore Capital leave FY26 expectations unchanged given Barry M acquisition and will review after results in April. FY25 EPS lowered 14% to 17p.

#W7L FY TU. Looks to be a miss expectations on Revenue and Adj. EBITDA. due to impacts from Bodycare, tariff uncertainty and consumer environment despite roll outs. Acquires Barry M for. £1.4m from the increased net cash balance. Expects to return to organic growth in FY26.

#ALU Cavendish maintain TP of 442p. FY26 estimates* are: Revenue £113.4m Adj. EBIT £15.7m Adj. PBT £14.4m Adj. EPS 29.1p *given management didn’t state…

#ALU H1 Res. Revenue and Profit below the strong previous comparator in H1 25 due to Hong Kong Airport as expected. Expects a strong H2 with a growing order book now 27% higher excluding Hong Kong and robust pipeline of opportunities. Confident in delivering FY expectations.

Back in Richmond for the weekend with Mrs TM. Fair to say theres been rain in the Dales…

#CHRT Contract wins of £17.9m in total at MCL underpin FY26 consensus revenue.

#RNWH CEO asked me if Id arrived by train. Told him no and he said they’d been working to reline the Standedge Tunnel after the recent fire. Re-opening today thanks to their response and kit. www.bbc.co.uk/news/article...

Very interesting AGM - the only shareholder in attendance and a lovely chat with the board. Main take aways - main market move its not the right time. Too many IHT funds holding at the moment bit do want to consider expanding the shareholder base in future.

#TPFG Cannaccord leave TP at 637p, Cavendish leave TP at 710p.

#TPFG FY TU. Significant organic growth with Profitability expected slightly ahead of expectations. FY26 has started with a strong sales pipeline and expects further growth across all divisions.

#RNWH AGM* TU. Record order book of £924m gives confidence in meeting FY expectations. A number of M&A opportunities. Well positioned to capitalise on long term opportunities. *I’m attending.

#MER Sizeable Contract Win to provide services to Birmingham City Council housing stock worth £450m over 10years with option to extend for a further 5.

#COST Cavendish raise TP to 297p from 215p.

#COST on the heels of yesterdays TU awarded a £100m contract for a new M5 Junction over five years.

#COST. Panmure maintain TP 190p. Reduces FY25 and FY 26 EPS 5% and 3% respectively. Increases FY27 5%. Remains bullish on UK infrastructure.

#COST FY TU. Op. Profit in line, margin expected to exceed 4.5% run rate, net cash of £190m, ahead of expectations, expects further progress in FY26 and beyond. Dividend parity removed, expects to increase to 3.0x cover. £20m buy ack to commence in FY26.

The lengths we go to in the pursuit of marginal gains. Clearly doesn’t just apply to our portfolios…

#CVSG with an annoying lunchtime TU chucked with the Main Market move confirmation from. 29th Jan. Looks inline albeit adj. EBITDA 🙄and expects FY inline.

#MAB1 FY TU. Revenue growth of 19% with PBT increased 12%. Momentum into 2026 and trading in line, expects to see a modest release of pent up demand early.

#ZTF FY TU. Revenue slightly ahead and adj. PBT ahead of expectations at record level.

#MER FY TU. Maintenance led organic growth offsetting the expected decline in Management activity with PBT ahead of consensus.

#GFRD - Panmure increase TP to 600p from 580p. Cavendish unchanged at 670p.

#JNEO FY TU. Expects adjusted PBT slightly ahead of expectations. Confident of significant growth in 2026.

#VLX Q3 TU. Strong momentum, expects FY revenue ahead of market consensus and increased expectations for underlying operating profit.

#GFRD H1 TU. Trading ahead of prior year and board expectations. Expects FY Revenue at the upper end of expectations and PBT slightly above top end of expectations. Order book and average month end net cash increased.

#IBST FY TU. Revenue and volume marginally up on the prior year despite a more challenging H2. Markets expected to remain subdued with pace and timing of recovery uncertain. Cost reduction measures and pricing action expected.

#FOUR FY TU. Revenue and profit above the upper end of analyst forecasts and marginally down on prior year despite the volatile environment. Strong cash generations and confident in navigating market conditions.

#KIE H1 TS. In line with order book increased to £11.6bn at record level, achieved average month end net cash position, expects period end net cash substantially above same period last year. 94% of FY26 revenue visibility. Good momentum into H2.

#MSLH FY TU. Expects PBT inline with expectations. Revenues up 2% overall on the previous year. Outlook uncertain and not expecting significant improvement in 2026. Remains on my watchlist.

#TPFG acquire an 85% stake of Smart Advice Financial Solutions a represenative firm of #MAB1. 🤔

Had a productive meeting with the New Homes Accelerator part of MHCLG yesterday to discuss developer woes wrt Electricity and Water supplies preventing large site commencement. Clearly a lot going on to try and resolve atm.

#GLE H1 TU. In line with market expectations. Sales rate skewed by bulk sales at 0.75 so essentially a marginal improvement. The forward order book is encouraging despite lower outlets.

#TW. FY TU. Completions mid guidance, reservation rate flat, ASP increased. Revenue increased to £3.8bn, margin lower, Op. Profit flat. Increased momentum in planning applications. Expects margin to be lower in FY26 and more H2 weighting.

#BRK Q2 Update. FUMA increased to £20.1bn and had positive net inflow for the first time since FY23.

#MPAC FY TU. Revenue increased to £170m with PBT expected in line. Order book stabilised with OE orders increased 25% in H2 following the tariff uncertainty. Positioned well to deliver on FY expectations and beyond.

Credit where credit is due. - Applied for a Passport renewal on Friday. - Posted my old one off 2nd Class the same day. - New Passport arrived today. Any chance they can be put in charge of Driving Tests?

#VTY FY TU. PBT in line with a stronger H2. Order book at £4.0bn down from £4.4bn a year ago. Expects less on an H2 weighting for FY26. Significant opportunity for growth medium term.

#RNWH Berenberg raise TP to 1320p from 1200p. More inline with my current TP. I’ll be the AGM at the end of the month.

#MEGP Secondary Placing

#PSN FY Results. 12% increase in completions ahead of expectations with underlying PBT expected at the upper end of expectations. Not expecting material market improvement in 2026.

#HTG FY TU. EBITDA looks inline with expectations, $1bn in the short term tender pipeline. 2026 expectations guided at $145-$155m EBITDA which looks like a slight downgrade on $156m consensus.

#BBSN FY TU. Ahead of consensus following a strong Q4 with net cash significantly ahead. Now expects all bank debt repaid by end 2026 and comfortable with FY 26 expectations.

#GAW H1 Results. A record half despite the anticipated licensing challenges with sales growth in all core 23 countries. Tariffs offset more than offset with price increases.