Dev.Secs. Share Discussion Threads

[scburbs] 21/10/2015 14:08

In H1 they achieved 23% of the full year development gain target, so there are no huge development gains in H1.

[horndean eagle] 21/10/2015 13:24

Spot on JL9. We did warn all the cheerleaders that all these huge development gains were unlikely to convert to much NAV growth. Obviously weren't having any of it. Maybe they have learnt their lesson now.

[jl9] 21/10/2015 10:46

The company is a chronic destroyer of shareholder value. What were you expecting. Life is good if you are management though.

[garbetklb] 21/10/2015 09:22

A bit slow, but I've just sold my remaining holding.
- mediocre, at best, results
- new name - completely pointless, hopelessly uninspiring, totally anonymous

In all, suggests management have lost focus............

[skyship] 21/10/2015 09:02

Definitely locked into their downtrend after the falling 50day MA hammered them back. Heading for the 220s possibly...


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[skyship] 21/10/2015 08:54

But I'm sure Marx wouldn't have endorsed the U&I rubbish...

[lord gnome] 21/10/2015 08:53

I have to agree with the sentiments expressed this morning. The numbers are very disappointing and the proposed new name, as I have said previously, is comical and a waste of time, effort and money. What are these people thinking?

[scburbs] 21/10/2015 08:39

Disappointing H1 appears to be primarily down to H1/2 skewing of development gains with £12.5m in H1 leaving £42.2m in H2.

Further details on this and the poor performance of Cardiff asset in the presentation slides on website.

[valhamos] 21/10/2015 08:09

Not very good results and the name change even worse.

[stupidboypike] 21/10/2015 08:05

The valuation of our investment portfolio has been broadly flat across the period. This has been a result of the decrease in value of our retail asset in Cardiff by GBP3.7 million as a result of a transaction in an adjoining block and certain lease events.

[skyship] 21/10/2015 07:47

# The name is an absurdity

# They seem rather coy about their write-down ibn Cardiff. Unable to find any further detail beyond this - "During the period, the value of our investment portfolio increased by GBP0.1 million to GBP207.7 million (Aug 2014: GBP4.1 million increase). This increase was negatively impacted by a GBP3.7 million decrease in the value of one asset in Cardiff. Excluding this asset, our portfolio value would have increased by 2.1 per cent."

[trytotakeiteasy] 20/10/2015 23:23

Is this a sell signal that management have found the most important thing to do is to come up with a stupid name..... "U and I".. how is it possible to come up with such a ridiculous name???? I am trying to think of a more stupid name but I am having trouble...

[sammu] 20/10/2015 22:52

It seems they are sufficiently embarrassed by the new name that they squeezed out the RNS after the market close.

[yupawiese2010] 05/10/2015 11:23

.Article regarding share price discount to NAV

[eeza] 02/10/2015 20:07

Extracting the Urine.

[bamboo2] 02/10/2015 19:53

Well done SKY.

First thing that came into my mind was....


U+I. = Urinary tract infection

[yieldsearch] 02/10/2015 18:38

I am doing the same

[skyship] 02/10/2015 17:52

Sending this:

As a DSC shareholder I hope most avidly that you can be dissuaded from wasting time and money on such an appalling Corporate Identity proposal.

To even imply that the introduction of a new name would mark the culmination of the takeover of Cathedral Group, is to seriously under-estimate both the financial and structural benefits reaped from that acquisition; or more likely to misunderstand the meaning of the word culmination!

The idea of U&I, beggars the question as to its meaning for anyone coming afresh to the re-named Company. If U&I, why not U&Me; We&They; or, even worse Them&Us. The whole concept is fraught with danger, fraught with misunderstanding and fraught with ridicule.

Development Securities and Cathedral Group are perfectly acceptable, descriptive and well-known names. There is no need for change. I’m surprised you have allowed it to come this far. Please do the right thing, put the whole concept out of its misery and get back to the day job!

Yours etc
#########
(an otherwise perfectly happy long-term shareholder)

[lord gnome] 02/10/2015 15:38

What a load of old tosh! Thank goodness their creative director (didn't know they had one or needed one) has left the company if that's the best he can come up with. Rather in the same league as 'Intu', or in his case, 'Outof'..

[eggbaconandbubble] 02/10/2015 15:06

Just re-read the penultimate paragraph - The group's creative director.... 'creative' - Oh no!.....'one of his final tasks' - double Oh no!

[eggbaconandbubble] 02/10/2015 15:02

'Declined to comment'! Not really surprising. Not that a change of name should in theory affect values, sp's etc. But it does! Has done so many times in the past.
Even logo changes can upset people.

[speedsgh] 02/10/2015 12:10

Property Week article...

Development Securities is set to undergo a complete brand overhaul that will see it change its name to U+I, Property Week can reveal.

The group is expected to consult with shareholders on the change in the coming days.

The new name would mark the culmination of its £27.4m takeover of Cathedral Group, which Development Securities agreed in May 2014, as well as its move to a new 35,000 sq ft head office at the former Phillips auction house in 9 Howick Place, Victoria, on 9 November.

If agreed, the company’s logo will change to the new U+I brand, and its official name on the London Stock Exchange will change to U and I Group plc.

Development Securities chose the new moniker after finding inspiration in work it completed with Cathedral Group in Greenwich. When Development Securities and Cathedral joined forces to buy Morden Wharf, Greenwich, in March 2012 their research unearthed a deep maritime industrial history on the site.

The Dock, Wharf, Riverside and General Labourers Union used to meet regularly near the wharf in the Sea Witch pub, which no longer stands, and the motto of the union was ‘Be united and industrious’.

Since joining forces the companies have looked for a suitable new name and believe the motto illustrates the new group well. It became the inspiration for the U+I name that they will propose to shareholders. While not standing directly for United and Industrious, the company believes it represents a collaborative and productive sense of partnership.

The group’s creative director, Martyn Evans is believed to have led the development of the new name, one of his final tasks before leaving the company after it moves into its new head office. Chief executive Matthew Weiner and deputy chief executive Richard Upton have backed the new branding.

Development Securities declined to comment.

[spittingbarrel] 02/10/2015 10:38

Sky - started to get back into a few today as I agree they look good value here, certainly no shortage of stock around though.

[skyship] 01/10/2015 14:59

DSC goes through bizarre price moves occasionally. Today certainly one of those days!

Back to c235p - so back into BUY territory. Discount up to 17% from historic. Likely nearer 20% to prospective.

Regrettably hardly any cash and nothing to sell; but got 5k...


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