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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Bourne End Prop | LSE:BEP | London | Ordinary Share | GB0004688460 | ORD 25P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
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|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.00 | - |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | 0 | GBP |
Bourne End Prop (BEP) Share Charts1 Year Bourne End Prop Chart |
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1 Month Bourne End Prop Chart |
Intraday Bourne End Prop Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 15/8/2000 | 18:47 | Bourne End Property | - |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
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Posted at 19/6/2000 23:30 by acol Did anyone else benefit from a punt on BEP? I posted on the 12th May that Helical Bar had just taken a 12% stake in the company. They have just offloaded 1.5mn shares at 64p. A nice little earner for a shrewd company with a nose for good value.Anyone buying on the 12th May would have realised a fairly safe profit of 28% based on the mid price. I bought @ 44p & gained just under 45% profit in just over a month. Property may well be a depressed sector but it is still worthwhile targetting well managed small companies which trade at very high discounts to NAV. |
Posted at 16/5/2000 00:22 by acol morse codeI agree with your view on interest rates. This is all the better for companies like BEP which have got rid of their long term expensive debt. You may well be correct in your assertion that property will continue to be a depressed sector. However, out of favour sectors often produce some good bargains with BEP being a good example. Generally speaking the 'trend is your friend' but in todays uncertain market I am happy to pick up the odd value share. Not necessarily to keep it for long. BEP has already increased by 20% in 3 weeks. Not bad when many 'more exciting shares' have reduced by that amount in less time! I think there will be more consolidation/takeov |
Posted at 12/5/2000 13:38 by acol Interesting situation developing with this company. Helical Bar has just taken a 12.05% stake in the company. Not surprising really when you consider the huge discount to NAV. Brokers expect NAV to be 99p a share by the year end.BEP has been transformed in recent months with the disposal of the high coupon debt. At the time this promoted the shares to rally to 64p. Directors have been consistent buyers for several months. The current share price has been depressed because of the general dislike of property companies and those specialising in retail property in particular. In recent weeks I have detected a slight improvement with, for example, LAS off its lows. Boring maybe but I have been quite happy to tuck a few away as a medium term punt. I have made good money (is there any other kind?) from a medium term trade of this share. I reckon the relatively new management have made some good moves & at least they have backed their judgement by their own money. |
Posted at 29/8/1999 08:46 by acol I am seeking the help of some of our accounting experts. In particular the effect on the valuation of property companies as a result of the relatively new Financial Reporting Standards. It seems to have taken quite a long time for the smaller companies to have adopted these standards and it is still quite common for companies to quote NAV's which have not been adjusted to FRS 13. In other words the NAV is stated without reference to the fact that debt may be at a higher rate of interest than prevailing rates.
It is easy to see the reluctance of some companies to adopt the 'new' standard. In most cases it results in significantly lower NAV. Take the case of Bourne End Properties which has a stated NAV of 88.2p per share compared with 61.8p adjusted by FRS 13 standards.
However, I personally feel that FRS 13, while relevant, grossly distorts the value of property companies - particularly in times of low interest. Currently we are experiencing very low rates of interest which is generally considered as good news for propery investment companies. The common view suggests that from this point interest rates are likely to go up. Suppose that two years from now rates go up by one to one and half %. How will this effect the NAV of property companies? Logic tells me (I'm probably wrong) that FRS 13 valuations will rise closer to the current NAV. If this happens then some property companies will start to look really good value.
And all this will take place with no action by the individual companies. Is this argument flawed? |
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