|Equest Balkan Properties
||EPS - Basic
||Market Cap (m)
|Real Estate Investment & Services
Real-Time news about East Balkan (London Stock Exchange): 0 recent articles
|jpmorgan: Just did monthly check on EBP.
Sale of biggest asset at Mkt price with associated debt, giving fresh equity and removal of cashflow issues should support development projects which should be good news for the share price long term. Carousel as big investors, seem to be playing the long game which should be good for all on a 3 year view.
Dont expect lots of movement in share price for while, until things improve in terms of finacial liquidity in the markets, then this one should progress.
|engineer66: Thanks for your posts LBO. Share price is pretty miserable, but property prices already very low in the Balkans and there's good underlying growth so a fair chance this company could be taken over at a bargain price. I am sure a buyer could cut costs a lot.|
|lbo: Equest Balkan
Our view: Buy
Share price: 121.5p (+1p)
Equest Balkan Property is fast becoming one of the biggest players in the Balkan commercial property arena. Yesterday's full-year results from the AIM-listed company underlined this fact.
In the 12 months to 31 December 2006, Equest bought 239m-worth of property in the region. These assets have already been re-valued and are now estimated to be worth 272m, an uplift of 33m, or 14 per cent. This leaves the group well positioned to reach its target of having a 400m portfolio this year.
The bulk of its assets (over 80 per cent) are in Bulgaria and Romania. Both countries joined the European Union in January. Their economies have been booming for years, and are tipped to continue to do so. Equest owns shopping centres, hotels and warehouses in both. A skilled investor, the group tends to buy properties for which it has tenants already lined up in advance. In this way it avoids speculation - it does not make purchases and then hope that it can find someone to rent the site, as many of its rivals in the region do.
Property in Bulgaria and Romania is not only far cheaper than in western Europe, but is also cheaper than in the Czech Republic, another former Soviet bloc country that is now in the European Union. However, Equest believes there is even better value to be found in the former Yugoslav republics of Serbia, Macedonia and Croatia, which at present stand outside the EU.
It is to these countries that the group is now looking, and alongside its annual results yesterday it unveiled the 7m purchase of an office block in Skopje, the Macedonian capital.
Economic conditions in the Balkans have probably never been better. The region has embraced the free market as never before, having suffered terribly for decades under Communist state planning. Yes, there are risks for investors. Corruption is a major problem. Also, the local legal systems often take years to settle simple disputes. However, Equest has so far avoided these pitfalls, thanks to the extensive experience of its management team in the region.
As well as the prospect of significant capital growth over the long term, Equest shares offer investors a dividend yield of 7.5 per cent based on the stock's 100p float price.|
|slapdash: anyone know what share price this was listed at?????? i.e. in sterling pence not Euros...
Equest Balkan Properties share price data is direct from the London Stock Exchange