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CLI Cls Holdings Plc

91.10
0.70 (0.77%)
26 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Cls Holdings Plc LSE:CLI London Ordinary Share GB00BF044593 ORD 2.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.70 0.77% 91.10 91.50 93.10 91.80 88.10 88.10 208,455 16:35:14
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Agents & Mgrs 148.7M -249.8M -0.6286 -1.45 359.26M
Cls Holdings Plc is listed in the Real Estate Agents & Mgrs sector of the London Stock Exchange with ticker CLI. The last closing price for Cls was 90.40p. Over the last year, Cls shares have traded in a share price range of 80.00p to 144.60p.

Cls currently has 397,410,268 shares in issue. The market capitalisation of Cls is £359.26 million. Cls has a price to earnings ratio (PE ratio) of -1.45.

Cls Share Discussion Threads

Showing 751 to 775 of 1100 messages
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DateSubjectAuthorDiscuss
23/11/2022
17:24
re last weeks trading update the vacancy rate deteriorated a fair amount in the UK compared to European mkts.

Also it sounds like some of the loans were cash trapped unless im misunderstanding what they are saying.

nickrl
23/11/2022
07:57
From comments I have read on several posts over the past few years, a Questor recommendation is a kiss of death.
wozzitworthit
22/11/2022
16:11
We may be lacking a catalyst for a recovery in the share price, but the discount should help to protect us from further falls. Nor has the valuation disparity escaped management’s attention. Fredrik Widlund, the chief executive, and the board sanctioned a tender offer in the summer and bought back 2.5pc of the company’s share capital.

Buybacks at such a large discount to NAV create value over the long term.

Nor should investors forget the presence of the Mortstedt family. Although Sten Mortstedt, the founder, died in 2020, the family still owns more than half of the shares. That aligns their interests with those of other shareholders and should ensure that no undue risks are taken.

Hold on to CLS.

Questor says: hold
Ticker: CLI
Share price at close: 158.8p

cwa1
22/11/2022
14:45
Tipped in Telegraph today
ghhghh
16/11/2022
07:56
Trading update...



Fredrik Widlund, Chief Executive of CLS, commented:



"CLS remains on course with its plans for the year with earnings tracking in-line with market expectations[1]. Our office upgrade strategy remains a priority and we are seeing the benefits in good letting activity with leases signed above ERV and previous passing rent. We have substantially completed our 2022 financing activity, are making good progress with refinancing our loans due to mature in 2023 and have around £150 million of cash and undrawn facilities.



"With our strong balance sheet, a high-quality portfolio, a majority of index-linked leases and our active in-house asset management, we believe we are well positioned to weather the current challenging economic conditions."



A summary of our key operational and financial metrics is set out below...

cwa1
11/11/2022
14:34
Took the quick 10%. In these markets just happy to have hit something right...
skyship
08/11/2022
10:20
@sky good they have some activity in Germany but that country isn't looking too rosy currently being much more industrialised than the UK is now there is risk of it being pruned back through high energy prices which will leak across into commercial property in the long run so wonder have the valuers will assess that. Despite the rollercoaster of the last month the £/E rate trades within a relative narrow range over the long run so no big FX issues.

I have yield at 5.69 on a forecast divi 7.95p

nickrl
08/11/2022
09:01
Bought back in again today. Just find the 60% discount irresistible, in spite of the ludicrous 38% LTV. Yield at 5.46% could be going higher with the UK division now a REIT.
skyship
08/11/2022
07:40
LS Holdings PLC

08 November 2022

Release date: 8 November 2022
Embargoed until: 07:00 am
CLS Holdings plc ("CLS" or the "Group")

CLS leases over 3,500 sqm, ahead of ERV, across three new leases in Germany

CLS announces that it has secured three significant new leases, amounting to 3,566 sqm (38,384 sq. ft), in Berlin and Cologne, Germany.

At "Flexion", Kaiserin-Augusta-Allee 112-113, located in Berlin-Mitte on the river Spree, CLS has secured two new major corporate tenants. Hologic Deutschland GmbH, a leading US medical equipment manufacturer, has signed a seven-year lease for 1,016 sqm (10,936 sq. ft) and Tower Productions, a German television producer, has signed a five-year lease for 1,797 sqm (19,343 sq. ft) of space.

CLS purchased the 8,712 sqm (93,775 sq. ft) property in Berlin-Mitte in early 2021 with approximately 30% occupancy. Now, after successfully repositioning it in the market, Flexion is approximately 80% let.

The third lease is for 753 sqm (8,105 sq. ft) on a five-year term with property manager Ecowo at Office Connect, Wilhelm-Jacob-von-der-Wettern-Strasse 27, Cologne. The multi-let property is located in the Cologne Airport Business Park and has a total of 13,000 sqm (139,931 sq. ft) of lettable space spread over eleven floors. The property is now 96% let.

On a combined basis, these three leases, were completed at 4.9% above ERV.

Fredrik Widlund, Chief Executive Officer of CLS, commented:

"These lettings further confirm that the demand for high quality office space remains strong in Germany. These properties offer well-located and flexible office space close to public transport and within easy reach of their respective city centres. These leases also highlight the significant benefits of having a dedicated in-house asset management team with local expertise. We look forward to working together with the new tenants to create a sustainable and attractive space for their employees."

cwa1
19/10/2022
17:50
@ghhghh we should see a trading update in early November which should hopefully give them an opportunity to respond on how the UK, German and French mkts are panning out. Does surprise me how this one suffers so easily from a bit of selling you have to wonder whose offloading but because the family dominates teh share register no RNS's will ever show up.
nickrl
19/10/2022
15:11
The principle reason for buying this is whether the Euro portfolio’s investment value is holding up better than UK thanks to significantly lower Gilts?

Secondary reason is whether already out of favour offices are more resilient than highly rated (and therefore lower yielding) logistics/industrials?

ghhghh
19/10/2022
11:17
Many thanks.
spectoacc
19/10/2022
10:48
Sprectoacc, it was 38.9% at 1043m, so add in 25m tender and then say 5m off for sale get 1063 = 40.6%
1917again
19/10/2022
09:09
Anyone know the LTV post-tender, post-Sentinel House sale? Even approximately? TIA.
spectoacc
15/10/2022
23:05
I believe a fair chunk of the debt that needs refinancing is denominated in Euros so they face 1% uplift probably compared to c3% for UK debt.
nickrl
15/10/2022
22:11
nick

True but marginal extra over short term cost for CLS.

Principle issue remains, are CLS’s Euro assets holding up better than it’s UK assets?

Answer should be yes in view of 10 yr Gilt gap?

ghhghh
15/10/2022
18:39
@ghhghh yes no solvency issues but higher rates in both UK and Euro area means higher interest bill leaving less in the kitty for divis.
nickrl
15/10/2022
16:04
If there were any solvency issues the directors would not have bought £600K of shares this last few weeks?

Also what discount to NAV are Euro property companies trading at? Bearing in mind 10 year Euro gilts are half UK.

ghhghh
14/10/2022
23:26
Looking at H1 results they have 186m to refinance over the next 12mths although they did have 110m of cash on the books but some of thats gone on the tender offer.
nickrl
13/10/2022
16:16
Hmmm - pretty small transaction though BT. They need to be selling 20% of the portfolio to bring the LTV down to sensible levels!
skyship
13/10/2022
14:09
..and still they slide
badtime
13/10/2022
07:28
13 October 2022

PRESS RELEASE

Release date: 13 October 2022
Embargoed until: 07:00 am
CLS Holdings plc ("CLS" or the "Group")

CLS announces the sale of Sentinel House for GBP7.0 million, 4.5% above valuation

CLS announces that it has simultaneously exchanged and completed on the sale of Sentinel House in Coulsdon, Greater London, for GBP7.0 million excluding costs.

Sentinel House was acquired by CLS in 2012 and consists of 3,211 sqm (36,711 sq. ft) of office space over 3 floors with ancillary car parking. Throughout our ownership the asset has been let on an FRI basis to IHS Global Limited which will expire at the end of 2022.

The sale, at a price 4.5% above the 30 June 2022 valuation, allows CLS to crystallise the returns on the asset while releasing capital to strengthen its liquid resources.

Fredrik Widlund, Chief Executive Officer of CLS, commented:

"The sale of Sentinel House is in line with CLS' asset management strategy and secures a significant return on the asset, capturing value for investors while increasing financial flexibility for the Group. The Group remains convinced of the attractions of well-located, high-quality offices in non-prime locations whilst continually assessing whether to hold or sell properties in-line with CLS' business model."

cwa1
12/10/2022
22:32
EI

It’s still a vote of confidence, must be getting on for £600K!

nick

But valuations are a function of gilt yields, German and French investments won’t be taking the same hit? 10 yr is 4.5% UK, 2.4% Eurozone.

Italy is 4.8%!

ghhghh
12/10/2022
20:51
@ghhghh fair viewpoint but Germany has a more adverse economic output than we do, well did before the Truss/Kwarteng duo got to work, although the german side did secure some very low rate loans for its recent purchases so reasonably well protected. Current half will benefit from pound drop but could easily snap back or increase if BoE go large at next rate rise means the Euro element has a degree of variability over it.
nickrl
12/10/2022
20:13
Not sure that's a valid observation as the buys are fractions of the shares they
recently tendered?.

essentialinvestor
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