Sign in

    Kevin Cammack

    Director and Senior Analyst at Cenkos

    Kevin Cammack is a Director and Senior Analyst at Cenkos Securities, specializing in equity research for the UK construction and housebuilding sectors. He is widely recognized for his sharp coverage of major publicly traded companies including Balfour Beatty, Carillion, and several of the UK's leading housebuilders, consistently providing market-impacting analysis and commentary. With a career spanning several decades, Cammack joined Cenkos after prior roles in investment research and broking, establishing a reputation for providing actionable sector insights; although specific performance metrics are not publicly disclosed, he is frequently cited by industry and financial media for his expertise. He holds professional securities qualifications relevant to his analyst position, contributing to his standing as a trusted voice in construction-sector research.

    Kevin Cammack's questions to Balfour Beatty plc/ADR (BAFBF) leadership

    Kevin Cammack's questions to Balfour Beatty plc/ADR (BAFBF) leadership • FY 2016

    Question

    Kevin Cammack of Cenkos asked what specific factors would drive the US business margin from 1% to 2%, sought clarification on a working capital inflow from provisions, and questioned if profit recognition timing on new business had become more conservative.

    Answer

    CEO Leo Quinn explained the US margin improvement will come from exiting low-margin 'stick frame' work and focusing on a more concentrated, higher-margin portfolio, particularly in infrastructure. CFO Phil Harrison clarified that the provision movement was related to non-underlying items like sentencing guidelines and asbestos, not contract losses, and that a £50 million cash outflow in 2017 is expected from contract balances, not provisions.

    Ask Fintool Equity Research AI