Share Name Share Symbol Market Type Share ISIN Share Description
McCarthy & Stone LSE:MCS London Ordinary Share GB00BYNVD082 ORD 8P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.50p -0.30% 164.50p 163.50p 164.40p 165.80p 163.60p 165.40p 4,845,953 16:35:15
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Household Goods & Home Construction 635.9 92.9 13.9 11.8 883.89

McCarthy & Stone Share Discussion Threads

Showing 351 to 371 of 375 messages
Chat Pages: 15  14  13  12  11  10  9  8  7  6  5  4  Older
DateSubjectAuthorDiscuss
17/8/2017
09:38
mfhmfh - thanks, perhaps PRU will secure special deals for PRU customers on MCS properties......just wild speculation. bb
bigbertie
16/8/2017
17:17
prudential group above 10%
mfhmfh
16/8/2017
09:55
I find these notifications of holdings hard to understand - Prudential raising or reducing its holding or just reorganising it????
bigbertie
11/8/2017
10:21
Tempting to buy some at this price (163p) but I won't as there are a lot of possible "headwinds" or "challenges" to use the fashionable director-speak. Eg possible interest rate rises, weakness in general housing market, shortage of skilled labour, rising material costs, fall-out from ground rent issue. However there will come a time........
bigbertie
09/8/2017
22:34
Somewhat significant holding of Anchorage Capital Master Offshore Ltd just intimated today. I wonder what they are up to?
fez77
04/8/2017
10:55
It's all over for the housebuildes. Think if you looked at the housing market without knowing any history of the last 50 years. This is what you would see today. 1/ The lowest borrowing rates for 300 years, in place for the last 7 years. 2/ Average house prices 8.2 times gross wages. That tells you that the bubble is so large that 70% falls are on the cards over the next 20 years. If, as I think will soon be the case, governments around the world default then your looking at 90% plus falls in asset prices. Take a look back in history and it's plain to see, wheat, gold, land , shares they all have had extreme movements.
pet lover
03/8/2017
12:32
This is a key month for MCS. I suspect the Government announcement looking into ground rents is making it more difficult for them to close out sales at the moment. Expect higher incentive costs - like discounting the flats by say 10 years ground rent, or similar, to get more sales over the line.
7kiwi
30/7/2017
14:57
Pet. Many of those points are not unique to MCS. The ground rent point is significant to MCS. The borrowing rate point is irrelevant. MCS buyers don't have mortgages. They are now selling far more off plan, cutting the sales cycle time
7kiwi
30/7/2017
11:11
The chart in the header post says it all.
pet lover
30/7/2017
10:38
The MCS ground rents start at £400-600 p.a. Not massive, but still significant.
7kiwi
30/7/2017
10:27
7Kiwi thanks. We did live in a block of flats for 10 years. There was a small annual payment to the freeholder which seemed very low key. But recently some builders have started using leasehold and people claim not to have understood the terms (surely their solicitors should have explained?). Good luck. BB
bigbertie
29/7/2017
21:30
FRI = Freehold Reversionary Interest No, ground rents don't pay for services. The service charge pays for services, such as, in MCS's case the house manager, cleaning of common areas and maintenance etc. Ground rents are quite literally, money for old rope. There is perhaps a little bit of time from in house lawyers and the CFO to do the deals to sell off the FRI's, but to all intents and purposes the £27-28m is all profit. They aren't alone in charging ground rent. The mainstream house-builders do it too, even on some houses (as distinct from flats). And I don't think MCS are the worst. The MCS ground rents are index linked and the rent rises each 15 years. Some of the worst examples include doubling the ground rent every 10 years. However, I would hazard a guess that as a proportion of overall profit, MCS makes more than most from ground rent resales, and so is among the most exposed to a clampdown by the Government.
7kiwi
29/7/2017
19:33
7Kiwi, I see the problem. By the way what does FRI stand for? Also I see the revenue for FRI is reported as £28m (in 2016 results) but how much of that is profit - don't ground rents in blocks of flats usually pay for some actual services and therefore should not be treated like the ground rents appearing on houses (which I think is what Javid was aiming at?}. In the worst case (if MCS ground rents etc are unreasonable) they should grasp the nettle and do something about it before the spotlight of public disapproval picks them out and forces their hand, IMHO. I'm holding - good luck all.
bigbertie
25/7/2017
11:52
I agree Bertie, simplification of the ground rent may well lead to higher sales: there is little doubt some are put off by the escalating ground rent. But the question is will this increase in sales offset the loss of a significant portion of the £27m revenue/profit from FRI sales. If Javid sticks to his idea of reducing ground rent to peppercorn levels, then I would suggest 90%+ of this profit will evaporate. Say down to £3m. So, £24m to find. At around £50K gross margin per unit, they would have to increase sales by around 480, or nearly 21% (compared to 2016 unit completions) to make up the shortfall (assuming no increase in admin expenses). It seems unlikely to me that sales would rise that much, or indeed if there would be sufficient units in the workflow to support that.
7kiwi
25/7/2017
10:41
Any simplification as a result of this review might actually help sales. I could be in the downsizing market soon but I would avoid complications or onerous charges completely. This is an opportunity for the company to simplify its package IMHO.
bigbertie
25/7/2017
10:25
The ground rent is entirely separate to the service charge, and it is the ground rent that is securitised. There are no services provided in return for the ground rent. The difficult thing about the ground rent is that it is index linked, and after a period goes up quite substantially. I would think the Government will look closely at these arrangements. It might be fair to have some sort of ground rent, but I suspect the nature of it will be changed to be less usurous.
7kiwi
25/7/2017
09:59
Uncertainty, the market hates it! Given the bad press, how will it affect enquiries whilst the 8 week review is underway? It hardly provides a backdrop for an incentive to sign on the dotted line, so at the very least another bump in the road that might get a mention during reporting.
wan
25/7/2017
09:42
and if there is a risk to the ground rent portion of the FRI revenue, I expect MCS would re-classify some of the services / costs they provide to mitigate any impact.
melody9999
25/7/2017
09:39
The current proposal is for houses only.
skinny
21/7/2017
12:14
some big buys today. MACD turning positive for the first time since April/May.
mfhmfh
06/7/2017
16:11
McCarthy vulnerable to housing slowdown, says Numis - HTTP://citywire.co.uk/money/the-expert-view-rolls-royce-jd-sports-and-ocado/a1031110#i=4
speedsgh
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