Colliers Intl Share Discussion Threads

[simon gordon] 29/7/2011 11:45

Last week Property Week were reporting that another agency had poached a London team from Colliers.

[envirovision] 29/7/2011 11:40

I guess just what a dire result the changed business plan has had will be fully revealed in September. Clearly it wont be a pretty sight.

[scburbs] 25/7/2011 20:14

As I have said before if they haven't sorted out the core business they should not be going for the big hitters in the London market. You shouldn't try and expand if you haven't sorted out the basics, poor strategy IMV (strategy would be fine if core profitability had been restored first).

New CEO appears to view the minority shareholding Canadians (First Service 29.99% shareholders) as his boss and they want to go for London. If that's want they want then they should just take it private and implement this strategy in peace that way they wouldn't have to sort out the lack of profits in the core business.

""Rubbish," he says. "I've come here because of an avowed belief from the Canadians that they really want to grow the business."

...

And FirstService has indicated to Mr Horrell that it views London's strategic international importance in a positive light. "It's an important market for clients on an international stage," he adds."

[envirovision] 25/7/2011 14:08

As usual some seem to have had sight of the update before the rest of the market.

[kfp] 25/7/2011 14:04

Ah that explains the fall, for a moment I thought they might be de listing, which would not surprise me.



Business Financial Newswire - Commercial property consultant Colliers International UK expects full year pre-tax losses to be much lower than last year.

Revenues for the six months to the end of June rose to more than £31m - 2.5% up on last year - and general operating costs continue to be well controlled.

But it says some additional costs have been intentionally incurred as a result of a planned recruitment programme and the group will report an operating loss for the half year.

Looking forward to the second half of the year, it says market conditions remain challenging but it does expect to see revenues continuing to grow year on year.

The board currently believes that this steady growth will produce a small positive earnings before interest, tax, depreciation and amortisation result for the year ending 31 December.

But it adds: "Notwithstanding this, the group expects to report a pre-tax loss for the full year, albeit at a much lower level that that reported in 2010."

At 1:17pm: (LON:COL) Colliers CRE share price was -0.5p at 8.75p

[kfp] 25/7/2011 13:57

Dont like the look of this !

[scburbs] 25/7/2011 11:21

Just keeps on sliding. At 9p it is worth just £13.5m, for a £66m business which reported "The New Year has started well with revenues in the first two months significantly higher than in the same period last year." that's seems very cheap to me!

The placing in October 2009 was for £20m.

[scburbs] 15/7/2011 11:41

When are First Service going to make an offer to take this over?

[cockneyrebel] 15/7/2011 11:12

trading update must be due any day.

CR

[scburbs] 06/6/2011 17:16

Colliers recruitment driver carries on, surely they must be back in profitability now with this level of recruitment activity!

"Colliers International has appointed Jonathan Baines to its central London investment team.

Baines previously spent 17 years at Cushman & Wakefield, setting up and running the firm's Spanish business as an equity partner. He then moved to the Government of Singapore Investment Corporation.

Tony Horrell, chief executive at Colliers, said: "Jonathan's appointment as a client facing director will give an extra dimension to both the central London Investment team and the European business. He has extensive investment experience, which will be of immeasurable value to both our existing and new clients.""

Source: EGi

[scburbs] 02/6/2011 10:19

"Colliers International in Scotland has retained a contract to manage Scottish Enterprise's property investment portfolio for a further three years."

Source: EGi

[scburbs] 31/5/2011 10:15

King Sturge being taken over by JLL.

DTZ expected to be taken over.

Takeover activity high and COL turnover significantly up at the start of the year. I would expect First Service to start looking at a takeover before the price turns around too much. Given they only have 29.99% they would need to pay a multiple of the current share price to get it through (I would hope!), but it would still be cheaper for them than waiting for the share price to rerate.

"The New Year has started well with revenues in the first two months significantly higher than in the same period last year."

[cockneyrebel] 17/5/2011 13:39

AGM yesterday - looks like someone attended perhaps - 66k buy.

Looks like some chunky buys/sells last week too.

CR

[cockneyrebel] 13/5/2011 12:46

Noticed those interesting trades today - the 250K i a buy filled by the 2 x 125k sells imo.

CR

[envirovision] 12/5/2011 15:58

Thing about DTZ is its International consultancy and project management skills in commercial properties. Probably the only reason its being courted and something COL is lacking.

Hence the reason people left head scratching in recent plans and direction.

[cerrito] 12/5/2011 15:48

I have not followed these in the last 2 years but used to own them.
Rather intriguing situation.
If DTZ gets taken over this will somewhat help COL as there will just be SVS and COL left but as DTZ is so much more multinational than the UK Centric COL not all that much.
The price does intuitively look low.
That having been said not sure how much more buoyant 2011 and 2012 will be than 2010 and the cash flow figures for the two halves of 2010 are pretty ugly.
Also not clear where all the business the new recruits are supposed to win will come from..ie taking market share and if so from whom or because the market is expanding.

[envirovision] 11/5/2011 23:26

House broker Panmure reckon they could even break even & turn a small profit this year and even have a 2p EPS target but we will have to wait till March 2013 to see if that dream could ever come to fruition.

Though I can quite see your logic CR in the hope a few people get excited over the DTZ rns and some exuberance spills into this one.

Knowing how illiquid this is though I think I'll take a rain check though myself.

I never really took a lot of notice of Ritblats shareholding myself because firstly he has more money than he could spend and secondly he must be approaching his 80s now so if not quite senile never less probably struggles to remember what decade it is.

[mathisvale] 11/5/2011 23:11

I look at it slightly differently. At the placing in 2009 First Service came on board as major shareholders. COL should benefit from the wider market, resources and infra-structure that they can bring to the table.

COL was paying a decent dividend and making PBT of over £10m before the placing. With the new shareholders I expect COL to eventually get back to that level and more. With a PE of around 10 that implies a 6-fold increase from here. I am quite happy to sit on the shares (and collect a divi) for a few years until that happens

[cockneyrebel] 11/5/2011 20:11

Been happy to wait for them to come good Mathisvale - lobbed a load in the wife's pension and have sat on them, same view as you re the director buying. I thought they would rally in June ahead of the the July trading update abd was going to top up in June but that news today forced my hand.

0.2p eps forecast for this year - if they come in with a bit better than that punters are going to be looking at the 2p eps forecast for next year and thing that needs to be upped a tad - might mean these are on a fwd PE for 2012 of 5 or less.

At least it will get them looking at the fwed forecasts even if they look like meeting forecasts.

CR

[mathisvale] 11/5/2011 16:39

COL has been out of favour for too long. It should be well on the way to recovery if the director purchases last winter and the recent recruitment is any guide. By the time that recovery is certain these prices will be history.

[cockneyrebel] 11/5/2011 14:32

DTZ in bid talks.

Just topped up my holding - won't be long till the punters are sniffing out other prop co's on the back of that news imo.

CR

[scburbs] 03/5/2011 15:35

The recruitment drive continues. Anyone would think this was a booming highly profitable business!

"Colliers International has recruited Jones Lang LaSalle's Stuart La Frenais as its new divisional head of retail in a bid to reinvigorate its previously neglected retail team."

Source: Property Week

[scburbs] 08/4/2011 15:17

Colliers seem to be getting quite a lot of work with Waitrose.

"Waitrose is in talks to take a bespoke shed for its online ­business at the former Guinness Brewery at Park Royal in west London.

The supermarket chain is understood to have targeted Park Royal for a 150,000 sq ft facility to service its dot.com business, with talks focusing on the SEGRO-owned Origin site.

...

Colliers International acts for Waitrose"

Source: EGi

"Waitrose has announced plans for a new regional distribution centre to be built on a former BAE defence systems site in Chorley, Lancashire.

Subject to planning consent, the food retailer said it has reached an agreement with Evander Properties and British Airways Pension Fund to develop and lease the 30-acre site which will provide a platform for the chain's future expansion within the north of England and Scotland.

Under the agreement, the site would receive investment totalling nearly £35m. Evander Properties will develop the new buildings with funding from British Airways Pension Fund and Waitrose would fit out the warehouse and picking equipment. Waitrose would then lease the site from BA Pension Fund for 25 years.

...

The Manchester office of Colliers international acted for Waitrose."



"LUXURY supermarket Waitrose is lining up its first move into Edinburgh city centre.

...

Tom Johnston, head of retail in Scotland at property firm Colliers International, said: "Certainly Waitrose are acquisitive. I believe the stores they already have in Edinburgh are successful and that is encouraging them to rev up their expansion plans."

[napoleon 14th] 08/4/2011 07:17

GL CR & all...

[cockneyrebel] 06/4/2011 17:51

yep, sentiment not with COL napoleon, disappointing.

Think we need to see actions now from the new guy before the market believes it. Problem is with new directors it usually takes 12 to 18 months to see results imo - donno if I'll have the will to live after holding these that long with little tangible improvement :-)

Still, perhaps they'll surprise me - they certainly did that by buying a load of shares then serving up carp results that's for sure.

CR