Share Name Share Symbol Market Type Share ISIN Share Description
Countryside Partnerships Plc LSE:CSP London Ordinary Share GB00BYPHNG03 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  2.60 0.96% 274.60 55,020 09:42:18
Bid Price Offer Price High Price Low Price Open Price
274.20 275.00 279.20 273.40 277.80
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate 1,371.40 85.40 13.80 19.9 1,441
Last Trade Time Trade Type Trade Size Trade Price Currency
09:42:15 AT 800 274.60 GBX

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Date Time Title Posts
10/6/202208:47CSP with Charts & News234
31/1/201712:47New thread for Countryside (CSP)4
11/8/200314:46Crown Sports54

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Countryside Partnerships Daily Update: Countryside Partnerships Plc is listed in the Real Estate sector of the London Stock Exchange with ticker CSP. The last closing price for Countryside Partnerships was 272p.
Countryside Partnerships Plc has a 4 week average price of 254.60p and a 12 week average price of 217.60p.
The 1 year high share price is 579.50p while the 1 year low share price is currently 217.60p.
There are currently 524,626,870 shares in issue and the average daily traded volume is 767,137 shares. The market capitalisation of Countryside Partnerships Plc is £1,442,723,892.50.
km18: Countryside Partnership (CSP) posted interims yesterday. Reported revenue was down to £602.2m, adjusted operating profit was £46.9m, there was no change to current year adjusted operating profit expectations - the Board still expects approximately £150m including significant profit growth in the second half. Good progress is being made in the transition to an exclusively Partnerships business. H1 2022 completions, revenue and adjusted operating profit were down, but on an unusually strong comparative period which had benefited from Covid related deferrals. The total forward order book was up 19% to £1,816m since the start of the year. The business is recovering from COVID but will not reach FY19 levels yet this year. Share price has more than halved over the past 9 months so valuation is starting to look quite attractive, forward PE ratio is around 8.4x. But there are clear risks to meeting current FY22 profit guidance and the share price lacks momentum. CSP is a share to monitor for now... ...from WealthOracleAM
olliemagern: Waited 4 months for an explanation of what went wrong in the first half, and it is still difficult to assess how incompetent the directors are. With a lot of one off extraordinary costs to come, Adjusted or under-lying earnings per share this year will be appear to be a lot higher than the real net earnings/loss per share. By the end of 2022 real net tangible assets per share are likely to remain around 190p, despite no dividend. In hindsight the buyback of shares between 500p in July 2021 and 300p recently was stupid.
who knows 1: Csp need an update on the business as promised in January. Short interest will expand as mentioned due to the uncertainty. Who knows how they will fair what with inflation but the sooner the better. I think Browning West must be over leveraged with their position and will need to see some way forward. Personally I’m not sure how this will turn out but the longer the downtrend the less confident I remain.
mister md: That's a massive buy reported at the close it seems (dated today and no other trade was over 300p today) ... 27-Jan-22 16:35:09 Price 300.20 Qty 298,929
shstt1: MedB I’m surprised you share my view of the vandals and Novax J. Thought you were a lefty woke. Porsche, I’m sure he’d have opposit opinion. So are you schizophrenic
medieval blacksmith: I actually bought CSP yesterday because it has been in and out of my portfolio over the years. I doubt Porsche would do that. I remember looking at one of their houses decades ago and was suitably impressed against the rest and over the years they seem to have managed maintaining distinction with their property/places. Lower than 300p piqued my interest and so a bought in below £3.00. Currently up 15.7% in less than 24 hours - probably a long term hold though. Still working on it. Wait to see new management perhaps.
mister md: did well on Victorian Plumbing when the Ceo did the same after price crash. Only difference here is that the CEO has left :-)
hbuilder: Surely value isn’t trashed by 25% just by CEO leaving abs trading below expectations? The activist investors will be buying more shares at this price and pushing it back up one way or another! Dyor but I imagine in the next year or so this will recover.
bogdan branislov: Can't be specific, I think that awareness of CSP and the attractions of its partnership business model has been steadily growing over the past year, the fact that Woodford offloaded easily without a price dive suggested a lot of underlying support and interest in CSP. Last but not least, many if not most private investors have been hanging back in cash until after the election, they are now buying in, CSP is at the top of a lot of private investors' buy lists, this should go on for weeks, not quite like today obviously, but more steady gains to come I suspect. Whilst the right thing to do was to stay invested during the election, the next best things is to build a position now asap. But investors don't tend to think like that, they don't like to buy straight after a 5% or 10% gain, so they wait for a dip, they feel better buying into a dip even if the wait for the dip takes a while and they end up paying more by waiting. Consequently, every short dip in CSP's share price will likely be followed by aggressive buying, probably well into the new year. If you had the foresight to spot CSP's value before now and the patience and fortitude to sit tight during the politcal and market uncertainty, then you have earned your gains, they are fully deserved, don't sell yourself short by selling too quickly. I have this suspicion that CSP will become a popular highly priced stock in time, at this point I will exit of course. I will no doubt top slice a little when we reach a fair price, perhaps 70% up from where we are now - i.e. about 70% up from the current price of c465p, but I will allow a portion of my holding to run on onto more expensive territory - probably well over 1,000p, before exiting fully. Bogdan
bogdan branislov: Politically uncertainty and the fact that house builders in general are strongly suspected of not making sufficient cost provisions for higher cost replacement land against current sales - boosting short term profit levels, but taking a big margin risk later in the cycle as the higher cost of the replacement land will have to be borne in full down the track. Cyclical ineptitude is almost an accepted tradition for conventional house builders. What has this to do with CSP given their predominantly partnership based model? Not much, but the market still lumps CSP in with other house builders and is only starting to wake up to CSP, as the almost complete lack of previous activity on this BB demonstrates. In terms of price target. I use a Neff total return for this type of company - (average annual growth rate forecast for the nest 2 years + current yield), divided by the cash or debt adjusted trailing year PE ratio. A kind of inverted PEG but factoring the divi into the total return. CSP, based on the official forecasts, has a Neff ratio of about 1.5. A Neff ratio of 0.5 is usually considered fair value, neither attractive nor over priced. O.7 or higher is getting interesting, above 1, which is a demanding threshold, suggests a real bargain. 1.5, when the business model is sound is compelling. But of course the 1.5 for CSP is nonsense. The broker forecasts are hugely conservative for CSP, the real Neff ratio for CSP is probably well above 2. The price could go up 150% now and while CSP may, at 150% above current price, at first glance look costly relative to conventional house builders, when you actually drill down into the numbers and CSP's growth profile, CSP would still not be expensive at 150% higher than the current price. CSP should five bag over the next 4 years or so. Given the pipeline, the growth must continue as the local authority partners will want their houses built, it is not like sitting on a land bank. Best for shareholders if the share price steadily begins to catch up to its fair valuation, the fair value obviously increasing year on year with the growth, without ever over shooting it as the expansion continues. Say, 70% share price growth this year and next, compounding, followed by say, 50% per annum compounding for each of the 2 years after that, that would get us there nicely. Cloud Cuckoo you may think! Well, with 10 years of SIPP investing this coming May, my gains have tipped over the 1,000% mark now. If there are relatively low risk growth bargains out there, I do tend to find them. CSP is as compelling as they come. Bogdan
Countryside Partnerships share price data is direct from the London Stock Exchange
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