Crest Nicholson Share Discussion Threads

[porsche1945] 22/10/2018 12:23

Woodford buying more, thats an alarm to dump this pos fast

[montyhedge] 22/10/2018 12:20

Directors buying and Woodford increasing stake, it's like a bell ringing saying buy.

[1gw] 22/10/2018 07:57

Good to see Stephen Stone buying a lot of shares, even if not as many as he sold in April.

[essentialinvestor] 20/10/2018 12:55

Less than 2 weeks to the year end, that looks a pretty wide margin.

However, it may be understandable as the last event CRST want
is another miss. They may be playing safe on the wide margin.

We may now know why the share price bounced from the Thursday lows, Mr W buying.

[salver2] 20/10/2018 12:04

I hear and understand what you’re saying but there is basically only a 10 percent spread which could easily be caused by timing of payments- what I would like to say is even if sayprofits dropped to 130 million they would still be on a pe of 7 approximately

[salver2] 20/10/2018 12:00

I hear and understand what you’re saying but there is basically only a 10 percent spread which could easily be caused by timing of payments- what I would like to say is even if profits went as low as 130 million they would still be on a pe of abouless than 8

[essentialinvestor] 20/10/2018 10:07

hill, interesting view. Mr Woodford perhaps disagrees.

[hillofwad] 20/10/2018 09:57

Salver2

"I believe it is very undervalued " Why because the numbers look cheap?- Could be but how can you have any confidence in a set of BODS who consitentally miss targets


Post a £20m potentail spread in profits so close to a year end .Sounds to me they havent got a clue .They are keeping their options open til the new FD sorts out the mess and finds out the bombshells

Selling sites with open market consent to the affordable sector more than likely to be below BV

Rumoured to have overpaid for many sites in the Midlands

Certainly picked the housebuilders who have given Bovis a run for the money for the worst set of BODS

[montyhedge] 19/10/2018 23:57

Take no notice of that idiot Porsche, they said they will do everything to maintain the 33p dividend. At least getting paid to wait for recovery or bid.

[salver2] 19/10/2018 20:48

Mr porsche do you have to go around every housebuilders board and try to deramp everything- don’t forget this is a share that can still make 150 to 160 million post tax profit - feel free to keep shorting an asset backed share on a pe of 5 - notwithstanding the disappointing results I beleieveit is very undervalued - it is now 3 pound a share - shall we review its price at a much later date - by the way the divi yield is 11 percent which I believe is sustainable - now there’s the other side of the debate!

[montyhedge] 19/10/2018 14:11

If you knew the answer why ask the question. Rules may change in the future, but can't go back.Nothing to worry about, otherwise Woodford would not increase stake. His analyst been over this with a fine tooth comb.

[sikhthetech] 19/10/2018 11:12

Montyhedge,
New Leasehold properties..

"Not at all"

According to the company's own TU, they do have a 'few' and review 'ground rents' but not a material exposure..
So a 'very few' but not NO exposure..




CRST's TU, May 2017..

"Leasehold Sales
There has been some public comment on leasehold sales in recent months. It is the Group’s general approach to sell houses on a freehold basis and, as a result, very few leasehold houses have been sold. We continually review the terms of ground rents for the sale of all leasehold properties and we do not believe that they constitute a material exposure for the Group."

[hillofwad] 19/10/2018 08:31

IGW Maybe but cast your eye back a few years when the wily old fox David Wilson timed his exit from the Midlands with perfection to Barratts who ended up holding the very expensive baby

Revolving doors Crest's arrival in the Midlands coincided with Tony Gallagher sale of his entire land portfolio to L & Q

It's difficult to imagine Tony Gallagher calling the market wrong having an unbroken track record of calling it right for many years

[1gw] 19/10/2018 08:04

And that failure to read the tea leaves correctly seems to have been laid at the door of the relatively new CFO.

[1gw] 19/10/2018 08:01

Brighton perhaps falls into the bucket of "bulk sales of c. 200 units to Registered Providers and PRS investors", a mitigating action for revenue shortfall.

They talk up the Midlands as being a bright spot for HPI, so it looks to me as though it's too early to write-off the expansion there, even if it did involve buying "oven-ready" sites.

I still think this is largely just the flipside of being so well-positioned over the last few years as they increased ASP's to grow revenues and profits. Patrick Bergin was talking at the AGM about being out of the current sweetspot because of their location and product offering. However, they have perhaps been a bit slow to see and react to the extent and speed of the slowdown on their "10 challenging sites".

[hillofwad] 19/10/2018 07:27

The arrival of the new FD will be interesting. Regime change is always an opportunity to take stock ,write off the mistakes of the past.Suspect there are plenty of sites sitting in their portfolio which are overvalued.It's clear there have been problems for sometime hitherto unrevealed.

Look no further than Countrywide Estate Agents where the new FD immediately wrote off £200m goodwill

One of Crest;s sites in Brighton they were onsite and suddenly sold to a HA for a shared ownership scheme . I wonder what happened there?Had they received an offer they couldn't refuse ?

[montyhedge] 19/10/2018 01:34

He must of sent his analysts to meet the company and liked what they saw.Dividend will be maintained at all cost it seems. 33p nice.

[salver2] 18/10/2018 17:49

Woodford buying more - maybe he’ll get it right this time !

[salver2] 18/10/2018 17:45

Woodford buying more - maybe he’ll get it right this time !

[master rsi] 18/10/2018 15:26

Where are house prices rising the fastest?
17 October 18 - House prices are rising the fastest in the East Midlands, increasing by 6.5% in the year to August, according to official statistics.

Wales also showed a significant rise - up by 6.2% over the same period, according to the Office for National Statistics (ONS).

However, a "sustained slowdown" in the south and east of England has pulled back house price growth across the UK.

On average, the typical UK home has risen in value by 3.2% over the year.

This meant the average UK property cost £233,000, according to the ONS.

Prices fell 0.2% in London during the same period, making it the only English region to record a fall.

[porsche1945] 18/10/2018 14:47

well if the anal-lysts are saying its a takeover target you can bet they will never be bought out....these are the same cretins that had 6.00 targets on this pos less than a year ago.

[montyhedge] 18/10/2018 14:19

Not at all.

[sikhthetech] 18/10/2018 13:36

How much are CRST affected by the new build Leasehold scandal?

[essentialinvestor] 18/10/2018 12:58

Any take out price would be well over NAV, so not sure how likely that is.

Any directors adding ?.