Medsea Estates Share Discussion Threads

[bluenose851] 27/9/2007 10:17

thaks giddy. I had found out by then but thanks anyway.

I work in property over here....like many agents medsea have a tainted name. Where I am in Moraira, the market is select but still buoyant. Especially for newer property. We are seeing a lot more german and dutch clients of late but like the rest of the clients, they are very picky and will only buy exactly what they want and will not compromise....they will also see many other agents!!

[missgemgems] 27/9/2007 01:03

well its happened to us at san rocco2 in bianco in italy, they had probs regarding planning near the beach, moved us further up coast to isca marina, can only think this was what they meant in rns . genuine post wiganer!

[wiganer] 26/9/2007 22:24

Never before heard of a reputable developer flogging off apartments then moving the location!

[giddygoat] 26/9/2007 21:40

Sorry Bluenose, Major Shareholders:

Tony Gatehouse 50.02% Chair
Catherine Gatehouse 27.28%
Juan Carlos Martinez 13.64% CEO

Interims tomorrow so lets hope it doesnt get any worse :)

[giddygoat] 26/9/2007 21:31

Very disappointing update today following the update we had in June already 5 months in the bag.
"Sales in the five months to the end of May 2007 increased by 40% compared with the same period last year....The Board therefore remains confident that the Group's performance in the first half of the year to 30 June will be in line with market expectations and that we will continue to make progress in the second half of the year."

"To help accelerate Medsea's growth, we recently announced a share placing to raise £700,000 and we are reviewing a number of opportunities that will enhance our growth prospects and broaden our base."

We had £1M at Interims (nearly 1p EPS) last year so a small pre-tax profit sounds bad to me. Interested to see whether anything happened to funds from share placing. I'd seen this hinted diversification as positive in further reducing reliance on Spanish market.

Co now valued at just £5M - boohoo

[yf23_1] 26/9/2007 20:02

"contain information about the higher than expected level of
cancellations in respect of sales accrued as at 31 December 2006."

Spanish property collapse unthinkable !!

When you have to unbook previous sales it might just be time to think about eh ?

[flateric] 26/9/2007 15:53

Today's announcement:


Medsea Estates Group PLC warned that its full-year results are likely to be below market expectations.

It said it expects a small pretax profit for the six months ended June, although it also said that the level of current trading is encouraging.

It said the interim results will contain information about the higher than
expected level of cancellations related to sales accrued as at Dec 31 2006.

[bluenose851] 26/9/2007 15:50

my screen is playing up ....who are the major shareholders in this?

edit...spelling

[wiganer] 26/9/2007 15:42

And also people bailing ahead of today's profit warning. Leaky leaky?

[tommyttrades] 22/9/2007 09:28

Just read through that again FlatEric.It should read Llanera
Sorry for the confusion

[flateric] 21/9/2007 15:32

I agree they're down on that news.

TTT, who had the development at San Javier, Medsea of that Llanera outfit?

I am down there a bit at La Manga.

[tommyttrades] 21/9/2007 13:28

Hi bluenose..I know the area roughly
Guess Medsea is down on this news....Llanera
They have a huge empty agency and development which never opened down near San Javier (Murcia Airport)

[bluenose851] 21/9/2007 13:20

i live further north in a place called moraira

[tommyttrades] 19/9/2007 08:50

Murcia...In the city...Where are you based bluenose?
Not sure if you know but is the fastest growing city in Spain.Two tier market here with Spanish still buying (mainly directly from developers) and International market where there is a log jam of BTL speculators trying to offload.The latter will suffer big time IMO.
Don't know enough of Medsea to pass a judgement

[bluenose851] 19/9/2007 08:34

i live in spain too...where do u live tommy??

[flateric] 18/9/2007 16:16

Fundamentals always come thru' in the end. This one is good value.

[yf23_1] 18/9/2007 15:40

Whats all the headlines on Bloomberg stating Spanish propery crash is unthinkable.
Do they mean they dont want to think of the consequences or that it is not very likely to happen ?

[tommyttrades] 17/9/2007 10:59

You guys may or may not like to look at his on youtube from an irate buyer.
No position just live in Spain and was sent the link

[giddygoat] 17/9/2007 02:06

Interims due 27th September - so not long till we see if we're still on track

[giddygoat] 17/9/2007 02:04

HB maintaining its Buy rec. in its Autumn Review page 84



Currently Medsea is trading on a EV/EBIT multiple of 4x and a trailing P/E of 5.9x, a 37% discount to the sector. At these levels we believe the company looks cheap.

Strengths
• Strong Italian sales in first 5 months of FY'07
• Restructuring in FY'06 was successful and is expected to have an EPS of 2.3p in FY'07
• Trading on a PEG ratio of 0.39 suggesting the company has an upside

Weaknesses
• Slow down in the Spanish property market
• The market is very competitive and highly fragmented
• Spanish and Italian properties are likely to face competition from other emerging EU destinations i.e. Bulgaria

[cb7] 06/8/2007 08:22

it looks like a rollover

[giddygoat] 03/8/2007 00:42

I was snoozing! Thanks for staying awake FlatEric

14.5 750000 O 12.0 14.5 14:39:05
14.438 750000 O 12.0 14.5 14:38:52

Obviously connected. Would a Broker Cross not be at same price?
Any connection to issue to HB Corporate of 1,559,588 warrants announced on 19/6

Any thoughts anyone?

[flateric] 02/8/2007 15:07

Anyone see those massive trades yesterday? Broker cross, surely...?