Share Name Share Symbol Market Type Share ISIN Share Description
Countryside Properties Plc 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
  11.20 2.64% 435.20 433.80 434.20 435.60 424.80 425.00 884,157 16:35:08
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate 1,018.6 180.7 33.1 13.1 1,958

Countryside Properties Share Discussion Threads

Showing 151 to 172 of 200 messages
Chat Pages: 8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
25/7/2019
09:46
I think that the statement is okay actually. Bear in mind that the first half of the year was well ahead of the previous year and the construction schedule suggests that the final quarter should be well ahead also. Woodford is likely to have to unload, but it may well be another block transfer to another fund(s). The profit growth for this year is forecast to be decent, but there is a lot going on with the business and the full extent of CSP's profit growth and the underlying balance sheet equity growth won't be fully clear until the year end results. Seeing the year end results linked to a clearer outcome timetable for Brexit and the resolution of the Woodford holdings would clear the way for CSP to re-rate significantly. All should become clear over the next few months. In the meantime, CSP is selling very cheaply relative to its growth projection, giving investors a considerable margin of safety. The recovery in the share price, will happen at some point and is likely to rapid when it does. Those waiting on the sidelines are likely to lose out. Remember that share prices climb the 'wall of worry'. By the time all factors becomes fully clear, the share price could easily be twice the current level and not at such a great entry point. Bogdan
bogdan branislov
25/7/2019
07:35
I’m not sure it will be that well received short term. Quotes include: ‘Laying the foundations for future growth’, and ‘Despite ongoing political uncertainty’. Net debt up, average sale price slightly down, completions slightly down. I agree a long term buy, but with Woodford still needing to eventually sell his large stake I think this will stay at these levels in the short term.
king_baller
25/7/2019
06:52
Nice trading update! That order but well over a billion now! I expect this to break the highs pretty soon!
blueclyde
13/6/2019
17:54
I think the news is hugely bullish! I was wondering why the share price has been going down for the last month and in that period Woodford has sold down from 15% to 10%. His lose is going to be someone else's gain here!
blueclyde
13/6/2019
09:31
I’ll buy them. Great opportunity
eaglebeagle
12/6/2019
23:10
Is anyone concerned that Woodford, after he sells off his illiquid assets and reopens his equity income fund, will face a huge wave of redemption requests? I don’t think he’ll close his fund, but I’m concerned that half may want to leave at the earliest opportunity. This would mean around 5 per cent of CSP will be up for immediate sale. Surely dreadful for the SP? What a mess.
king_baller
20/5/2019
10:40
My understanding was the leaseholds were sold on to private companies. But like I said, everyone who bought a house on a lease has been offered a chance to buy the freehold back. This is an historic issue. The liverpool labour mayor has only brought it up it to play up to his extreme left, anti capitalist, Momentum base.
king_baller
20/5/2019
10:31
These would have been built by their Partnership side who work in conjunction with the local authority and build on their land. Purely a guess, but I would suggest that the land does not actually belong to CSP but belongs to Liverpool Council and therefore it would be leasehold not freehold owned?
shallwe
20/5/2019
10:12
The leasehold deals are undoubtedly bad for the property buyers. However they bought at a discount to the freehold price. And CSP have said they have offered everyone on leasehold a chance to buy the freehold.
king_baller
20/5/2019
09:37
Countryside have told the world that they no longer do this. The evidence that I have found dates from when the practice was uncovered 2 years ago and does not appear to have related to many of their developments. I haven't seen any recent articles or examples and I have looked. In light of that, as the disclaimer says, the past is not necessarily a guide for the future.
diogenes1960
20/5/2019
08:37
Do a google search of “Countryside leasehold scandal” and you’ll see plenty of evidence they are guilty of this. The scandal was covered by the media when it was first exposed in 2017. The problem is greedy companies like Countryside were able to rip off people buying their homes and do it perfectly legally through selling leasehold properties with escalating ground rent clauses.The issue hasn’t gone away, but it is now being dealt with by government reforms.
archy147
18/5/2019
14:19
Having Having read the response of CSP to this, it looks like a case of an under-informed Councillor (not exactly a rare breed) trying to raise his profile. I would like some evidence of CSP doing this before making a judgement. Strange that the media have not run with it, isn't it?
diogenes1960
16/5/2019
18:22
At 31 March 2019, we had 31 open selling outlets with a further 73 sites under construction (HY 2018: 22 and 27 respectively).Looks like things should ramp up as someone mentioned in the next 12 months.
blueclyde
16/5/2019
11:54
I noticed too they purchased £13 million worth of shares for employee trust. I am not the best at trying to read a balance sheet like this but it does imply that they are expecting a strong second half.Also a large increase in the dividend. They also acquired a lot of plots which will fuel further growth. The yield pays you to wait.
blueclyde
16/5/2019
07:51
At first glance I was a little disappointed, on closer inspection less so. The key info is under the Partnership heading under the sub-heading of Operating Profit and Margin. Reported operating profit for the Partnership business fell to 9.5% for H1, but is expected to revert back to target figure of c15% for the full year, so the profit growth figures for H1 are not actually meaningful due to reporting requirements. i.e. H1 results are not a half year representation of the full year, even when allowing for the H2 volume weighting, due to the H1 reported margin being c35% lower than the anticipated margin for the full year. Big increase in dividend, active sites up 49% from H1 2018 and additional plots acquired during H1 over 12,000. Interesting to see if Peel Hunt revise upwards following these results. Given the second half output weighting and the fact that the operating margin of the Partnership business is expected to increase from the 9.5% reported in H1 to c15% for the full year, suggests the current full year forecast is conservative. Bogdan
bogdan branislov
15/5/2019
17:54
The figures tomorrow will be very good even though the major numbers will come in H2. The market, however, continues to have a valuation metric on house builders tied to share price to book value - hence benefiting inefficient builders and having an adverse impact on those that efficiently use their assets. I've a stake here, and would like to see this break tomorrow or in the near future but I have my doubts the market will wake up anytime soon.
podgyted
15/5/2019
07:33
rimau1 - It will be interesting to see both the EPS for H1 and whether there is any change in Peel Hunt's projections. You mention 2020-21 and how the value plays out in that period. What is your thinking here, what is it that happens during that period to make it stand out do you think? Bogdan
bogdan branislov
15/5/2019
06:58
Interesting analysis Bogdan. I am not quite so bullish in the short term, they flagged an H2 weighting during the recent trading update and I would also expect some short term margin contraction - well flagged softer markets and sector wide input cost inflation could more than offset cost efficiencies in the short term. Very excited about 2020-21 when the value on offer here really plays out. For 2019 Peel Hunt have lower % growths. EPS full year around 39 so maybe H1 of 19 would be nice.
rimau1
15/5/2019
06:47
Hi Bogdan. Thanks for confirming what I was thinking! The acquisition so further fuel huge growth it just remains to be seen how much of the 40% growth in properties falls into percentage profit increase. Even if it is 20% then I believe the share price currently on a PE of 10 should quickly move by as much to maintain that PE. I also see the dividend of 10p last year covered by 30p of earnings. I don't see them needing all that cash as they ramp up out put they coulda easily make the dividend 20p what would also support a share price north of 400p too.
blueclyde
14/5/2019
21:56
Well, I have been tasking a close look at it, several close looks in fact. At risk of stating the obvious, if the margins are maintained, which is expected with the more efficient factory production of timber frames ramping up, then the H1 profit growth should not be far behind the output growth. There was a big surge in output growth in H2 last year, so it is unlikely that output growth for the full year will be as high as 43%, probably more like somewhere in the mid 30s %. Conservatively I am assuming profit growth of over 20% for the year, although this would require a fall in margins that appears unlikely - but I can't quite bring myself to assume annual profit growth of over 30%. The profit growth % added to the divi for the year looks like it will be at least 25, about 2.5 times the trailing year PE ratio. This is extraordinary, the sum of growth and divi being half the trailing PE is generally seen as fair value, growth plus divi the same as trailing PE suggests an exceptional bargain. I have not seen a valuation ratio like this for a solid, non-tech FTSE company since Barratt sold for c£1 per share in 2010. Clearly Brexit, trade war fears, Corbyn government fears and general negativity towards house building and construction have all contributed to this extraordinary situation. There may be another factor, a very temporary factor, let me explain. I recently e-mailed one of the editors of a leading national newspaper about CSP - I can't be any more specific for confidentiality reasons. He called me back a few days ago, said he had read through my valuation assessment and thought the under valuation was just compelling. 'But what was the company called again' he asked, 'was it Countrywide?' !!!! He quickly corrected himself to be fair but you take my point, there is no name out there more toxic than Countrywide right now, the complete antithesis of Countryside Properties. I can't see the rate of growth slowing with nearly 10,000 new builds signed up in H1 alone, for partnerships alone, this is over 4 times the H1 output - extraordinary. Bogdan
bogdan branislov
13/5/2019
18:34
Anyone care to take a guess at the half year EPS figure this week?
blueclyde
01/5/2019
06:41
KB, interesting bit of history you point out there, could be a pattern. Yes I contacted CSP yesterday. They are usually very good at replying, although the nature of the question, much along the lines of my post below, is likely to take a couple of days for CSP to respond to. Bogdan
bogdan branislov
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