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Share Name Share Symbol Market Type Share ISIN Share Description
Countryside Properties LSE:CSP London Ordinary Share GB00BYPHNG03 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +7.40p +2.67% 284.40p 286.00p 286.40p 290.00p 275.60p 275.60p 1,012,238 16:35:07
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate 845.8 141.7 26.0 10.9 1,279.80

Countryside Properties Share Discussion Threads

Showing 126 to 148 of 150 messages
Chat Pages: 6  5  4  3  2  1
DateSubjectAuthorDiscuss
22/11/2018
08:08
These results just could not be stronger. To have a net cash position after funding both organic growth and an acquisition is remarkable. To have such margins when predominantly operating on a capital light model (i.e. capital not tied up) is very healthy. The ROCE employed is exceptional. The growth in contracted builds, the earnings growth trajectory all linked to a cash adjusted PE of about 8. The business model is clear, coherent, plausible and sustainable. 40% of my total holdings now in CSP, opportunities like this do not come around very often. Bogdan
bogdan branislov
12/10/2018
10:28
The results, particularly cash build up in light of the growth rate, are compelling - growth usually drains cash. It is not just PE value but growth and quality and bid pipeline. The near 30% ROCE means that they can grow and acquire without balance sheet pressure, a very rare thing. Sometimes sentiment diverges from reality and fundamentals like this, but not for long I suspect. This is when the true investors are revealed, those who ignore the sentiment and place their confidence in the fundamentals, which could not be better. Bogdan
bogdan branislov
12/10/2018
09:41
Sentiment seems to be against the outstanding Countryside CSP at present, 280p is oversold. They have 139p net tangible assets and will earn another 125p over the next 3 years to Y Sept 2020. If houses stop selling they can bring forward the partnership 4 year scheduled pre sold builds for Sigma Capital, PRSR Investment Trust, etc. Other House builders can't do this. Just to recap:- CSP Y Sept eps Y15 5.5p Y16 16p Y17 28p Y18f/c 36p Y19f/c 42p Y20f/c 47p
olliemagern
10/4/2018
11:08
Expect more orders from Sigma capital for house completions in 2019 and 2020. These houses are pre-sold to the rental market via PRSR investment trust. Plus the circa £100m acquisition of more Ebbsfleet land from the govt to build a further 1000 houses in 2019 and 2020. With govt pressing for more affordable houses that are urgently needed. This should ensure Countryside continue to lead the sector growth for at least the next three years.
olliemagern
14/2/2018
21:29
at 310 this is looking very good
corlis
26/1/2018
13:22
First 1/4 completions up 47% against +23% first 1/4 last year. Very very good start to the year.
olliemagern
25/1/2018
11:04
Update seems on track.
minerve
22/11/2017
11:40
CSP full year results "confident of delivering sector-leading growth in 2018 and beyond."
olliemagern
11/10/2017
13:41
Walbrock I think you miss the point. The CSP business model is re-positioning to the strongest demand of affordable lower cost houses in Partnerships, this gives quicker turnover opportunities in the market. Increased orders mean CSP is set to grow earnings around 25% p.a. in 2018 and 2019 with growth two or three times faster than most other house builders. At 347p they are currently on a p/e 7.9 times my Y19 f/c earnings of 44p. As we get more clarity and certainty the shares will outperform the sector.
olliemagern
11/10/2017
12:40
Having looked at the results, here are my thoughts This homebuilder completed 28% more homes than last year taking it to 3,389 homes. But, the average selling price ("ASP") reduced by 8% to £430,000, which was in-line with market expectations. The problem is their housebuilding division with average ASP reduced by 23% to £515,000, whereas the Partnerships division saw 12% increase to £343,000. Countryside contributes ASP rise in their Partnership down to “outer London and regional cities.” But the reason for price decline in their housebuilding division is down to reduce their exposure from the high-end product! It should say that London home price is falling. Land plots continue to grow to 38,811 plots, which is equivalent to 11.45 years’ supply at current volume. No profit forecast Apart, from stating the obvious (Help to Buy scheme), there is no mentioned with a profit forecast. It will be interesting to know how the reduction in homebuilding selling price affects pre-tax profits. Historical and forecast Last year sales came to £671m, up from £277m in 2013. Meanwhile, operating profits were £87m, up from £17m. Stock, as % of sales is almost equivalent to annual turnover. PE ratio is at 25 times with EV/EBIT at 15 times. Although, PE is forecast to fall to 13 times. Also, the dividend yield is low at 1.5%. Comparison For the sake of comparison, Berkeley Holdings has PE of 8.5 times and EV/EBIT at 5.9 times. Final thoughts Their housebuilding division contributes 53% of turnover and 48% of pre-tax profits. With the division seeing a 23% fall in average selling price, this could push it into a net loss and will affect overall profitability. I feel without profits forecast, this is a delay reaction. As soon as they report their annual results (somewhere in November), we could see a major share price correction! Add in the fact that it is twice as expensive than the sector average, then the shares a sell, based on the lack of financial detail. Feel free to comment below. For further results and analysis on other companies result, click http://bit.ly/2yFcLts
walbrock82
10/10/2017
09:51
Building pre sold houses for expanding Sigma capital and PRSR with local govt help, ensures rapid redevelopment of brownfield sites. And helps the govt to meet new housing demands. CSP will continue to outperform other house builders for the foreseeable future. Eps for Y Sep 16 was 16p, current f/c 27p y Sep 17, 35p Y Sep 18 and 40p Y Sep19. Likey to be upgraded in due course.
olliemagern
10/10/2017
09:41
olliemagern 31 Jan '17 - 12:47 - 4 of 4 from old thread. Oaktree placing at 230p means their stake is down from a majority 56% to 46%, they need the cash to support their US oil investments. On track to meet 24p eps Y sept17 and 31p Y Sep18. Increasing work from faster track local govt affordable brownfield housing partnerships mean these are likely to grow faster than most house builders, and therefore look a good value investment at 230p, with 120p tangible net assets.
olliemagern
29/5/2017
19:24
What the heck happened at 11.30am, did someone in a fund suddenly read Wednesday's SHARES magazine? Or the results?
runthejoules
26/5/2017
15:47
hard core volume
luckymouse
31/1/2017
12:47
Oaktree placing at 230p means their stake is down from a majority 56% to 46%, they need the cash to support their US oil investments. On track to meet 24p eps Y sept17 and 31p Y Sep18. Increasing work from faster track local govt affordable brownfield housing partnerships mean these are likely to grow faster than most house builders, and therefore look a good value investment at 230p, with 120p tangible net assets. Numis target 296p Peel Hunt target 310p
olliemagern
24/5/2016
16:33
Price briefly reached 280. Highest broker forecast is currently 297. Now looks likely to be achieved after the 6 month results and 2018 outlook. 75p on a 225p investment would be sweet.
127tolmers
23/5/2016
16:44
Great Breakout, good for 300 after those sound results.
nellie1973
18/5/2016
14:50
Just purchased my first tranche in this share so good luck to all of us.
eaglebeagle
13/4/2016
10:30
Hello! What are market expectations for turnover and earnings year to 30 September 2016?
silkstag
28/2/2016
21:38
It is a bit lonely in here. I applied for £1000.00 and was scaled down so I only got 377 shares.
joseph moran
28/2/2016
11:46
Thank you for setting up this board. Hopefully one day it will get used.
tyranosaurus
12/2/2016
17:35
Pricing range was 225-275 and final offer was 225p. If the market recovers in general a 275 exit point will look achievable quite quickly. 50 on 275 or 22% would be nice. I got scaled back to 85% in the offer. Watch out for lock ins to end after 6 & 12 months.
127tolmers
12/2/2016
16:46
Good start
joseph moran
Chat Pages: 6  5  4  3  2  1
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