Dtz Share Discussion Threads

[martinadilsmith] 18/8/2008 08:58

It's in the report/accounts - Sept-October time I think.

[the knowledge] 15/8/2008 16:53

What date are they paying the next dividend?

[blackdown2] 13/8/2008 17:42

£1/share, here we come.

[johnrxx99] 12/8/2008 10:28

More likely an IB imo but in reality, because it is a people business, I don't think that would sit well with directors or staff. I mean, what have the banks done for us recently!!

I'd like to see a bit more buying by directors but Mark Strucket was always to the fore on that front and with him going it's unlikely he'd want more poor chap. All that work and before you leave you loose 85% of your capital. He doesn't deserve that - I'd be making dolls of American and UK bankers and sticking pins in them, lol.

[johnrxx99] 12/8/2008 02:49

IMO coming into range. There has been a surge in the property sector over the last few weeks and while that may be a dead cat bounce, DTZ has not seen a flicker. This could be due to an assumed fallout in residential sales but that is SVS, not DTZ.

Management contracts are nearer 3 years these days but that'sd on a tender basis. Relationships on asset management go on for decades - this is a people business and fees are not so important as getting deals put to you.

Being a major player you have part of the market virtually guaranteed to be given to you because of conflict of interest. If you are in the market you know that big deals will emerge through a few dealers and unless you have one you are last to hear - most big deals are in final stages before the word is out to the rest of the hurd.

The possible buyers, as mentioned above, are unlikely to be from the US, they have already taken out the other players and DTZ is too multidisciplined and the office overlap would be carnage. If anything look to a German bank or far eastern player but clearly noone seems to be buying, yet.

[blackdown2] 06/8/2008 18:37

Couldn't agree more. Having lost over 85% of its value over the last 18 months or so, clearly the market isn't in love with this stock.

[simon gordon] 06/8/2008 14:59

DTZ is a cyclical business that was puffed up in the Brown Boom.

If the chart is a guide it now has many years of turgidity ahead.

Good fortune.

[martinadilsmith] 06/8/2008 14:55

This is lifted from the last company report - page 18.
"At 30 April 2008 the Group's net assets were £117.6 million (2007: £112.1 million)"

How is that not much in the way of assets?

I agree with you about goodwill, but short term contracts? Nearly all asset management and investment management contracts are 5 years each. Portfolio valuation contracts are around the 3 year mark.

How is this short-term?
Remember that DTZ is a multi-disciplined consultancy, so in addition to the usual agency work, they have a big planning department, not to mention rent review team, corporate recovery, Occupier Services (CREM), rating teams (alot of work coming up there in the next two years), business space, accounts... you get the picture.

They have great diversity of income streams, and this should more than keep them going. Remember that the fall in profits this year was only down to the Donaldsons acquisition and a write back to the US operation. Gross profit was up.

[blackdown2] 06/8/2008 12:34

The problem with these companies that they don't have much in the way of assets. It's all about short term contracts and goodwill.

[blackdown2] 04/8/2008 17:46

Yep, I do. Weak share price and will probably stay that way for some time unless a bid emerges.

[martinadilsmith] 04/8/2008 09:45

Maybe, but there is a lot of high profile work being reported in the trade press. With a rising profile, and instability in competitors I expect modest gains in the near future

04/08/08 Daily Telegraph B3
DTZ assess Austin Reed for Naggar and Klimit


DTZ report that office enquiries are not declining.


DTZ advises on UBS sales


DTZ advises AIK on £13.7m purchase


BDO appoint DTZ to advise on Dawnay Day portfolio's.


DTZ advise on major new letting in The City


DTZ advise on 100 acre disposal.

There are plenty more, but you get the picture.

[blackdown2] 03/8/2008 18:07

Maybe, but the work won't necessarily be that profitable given the level of competition.

[martinadilsmith] 01/8/2008 09:08

Given how much trouble Colliers CRE is in (£4.5m six monthly loss), I think DTZ is well placed to pick up their contracts as the landlords seek security of there core work; management and valuation.

[blackdown2] 31/7/2008 17:32

As predicted - 125p on the way.

[martinadilsmith] 30/7/2008 15:00

I'm buying on the back of big contract wins reported in trade press, and that CBRE and JLL have reported nearly 73 and 76% fall in profits on the NYE.

[mkwng] 29/7/2008 09:59

132p at now. trade is small size.
but noted that big trade is 140-150p area.,
maybe up? any comm or news ? please...

[martinadilsmith] 14/7/2008 10:53

CEO departure was mooted last year and isn't due to go until at least 2009. Well planned and phased hand over.
Plus majority shareholder continues to acquire shares.
Commerical market has not been affected anywhere nearly as badly as resi - although capital values have fallen as yields move back out, and debt is more expensive, rents are holding firm, with only the high end seeing a small dip.
Massive bounce back on share price expected. I'm buying! :)

[blackdown2] 10/7/2008 08:03

CEO leaving; bad market; could go to 125p.

[ziga2] 26/6/2008 11:06

too much debt in this enviroment. deleveraging would be good

[johnrxx99] 23/6/2008 16:21

I know but look at the commercial market!!

[martinadilsmith] 13/6/2008 09:24

DTZ have nearly zero exposure to the resi market.
They are almost purely commercial.
It's in the company accounts and brochure.

[johnrxx99] 13/6/2008 05:41

looking quite dire. Property news will no doubt be poor in coming months as the residential market melts.

[melody9999] 12/6/2008 15:43

well my prophecy proved correct even though I was talking to myself! someone was selling and still is. nice little short and further to go.