Persimmon Share Discussion Threads

[blue59] 08/8/2023 15:21

uu4 - Bon voyage!

Don't worry about staying in touch.

[the_jitters] 08/8/2023 13:41

Ok, so we all know PSN has performed poorly but it’s performed well below both Barrat and TW. This is now just a third of the price it was at its highs………. And we all know at some point the housing market will recover. My question is simple, at what point do we consider all the bad news priced in and consider PSN a buy?

[beckers2008] 07/8/2023 22:00

'Sikhthetech'

'Spotted by Sunshine Today on TW thread'

YOU posted it, numb-nuts, you really are the village idiot, lol, just lol!

[sikhthetech] 07/8/2023 20:34

Spotted by Sunshine Today on TW thread.


There you go, end of Help to Buy impacting the HB sector. As expected then.
Berkeley, TW, Bellway - all big UK housebuilders warning of a slump in demand.



"In response to current market conditions which have caused a slowdown in the sales market and a reduced output for house building, we have today announced proposals to make some structural changes across our business," the company said in a statement.

"This includes the potential closure of two of our operating divisions, with sites being transferred to other divisions, a reduction in capacity in a third division and a limited number of role reductions across the business."

"It is the latest sign of a slump in the housebuilding sector, which is grappling with high interest rates and a cost of living squeeze that is dampening demand."


"The end of the government's Help to Buy scheme in England is also weighing on the sector."

"It came two months after Taylor Wimpey announced that it was planning to cut jobs in order to find savings of £20m a year.

Meanwhile, Barratt announced in July that it would build 20% fewer homes in 2024, while Berkeley said its annual sales were expected to fall by a fifth."

[uu4] 06/8/2023 23:06

If the masonic disorders links to tax avoiding tax payer robbing landlords post 2008/9 is not exposed and put right in tax payers favour I am leaving this corrupt ignorant country. What was that all about. Your industry is completely rescued by tax payer SO what do directors do? Pay themselves bonuses!!!! Then after few years after checking the temp. Crown Estate do same. You people are so corrupt. It's off the scale . Is this 1930's Germany?
What happened to states ability to build clean energy producing infrastructure??????
Ans: stupid masonic politicians paid it to stupid corrupt builders , tax avoiding property owners/landlords BECAUSE that's what we do in medieval England!
What is the difference between this and Putin's thieving tax avoiding oligarchs. Banks fall over to help them too or you end up in Lublianka.
Here nobody is allowed do the right thing for the wider economy because theft by builders/tax avoiding landlords is democracy apparently!!
The oligarchs made Putin and tax avoiding landlords made you

[tialouise] 02/8/2023 13:55

Thank you dear, bye now........

[sikhthetech] 02/8/2023 13:14

TW H1 results not good. Shows sector still suffering.


TW:
The divi is simply because they have committed to a divi policy, which they previously restated they will stick to.
That is a bad policy in a downturn as they can quickly run out of cash.

Plus directors would want that additional income.

Increased the revolving credit to £600m and now includes new conditions!!


Group completions down at 5,120 against 6,922. That includes completions for homebuyers who bought using Help to Buy before it ended, where it was important to complete during H1, otherwise they would not be paid.

Group profit margin down. Increases in labour and falling house prices would severely impact that lower margin.

Been good trading these.
I think best to trade.


From the results:

-- Group completions of 5,120 homes (H1 2022: 6,922)
-- Group operating profit margin of 14.4% (H1 2022: 20.4% ), reflecting a lower level of completions and the impact of build cost inflation which was not fully offset by house price inflation for the period

-- Announced 2023 interim dividend of 4.79 pence per share (H1 2022: 4.62 pence per share) amounting to GBP169 million (H1 2022: GBP163 million), in line with our stated Ordinary Dividend Policy to return 7.5% of net assets annually

-- Full year UK completions excluding JVs now expected to be in the range of 10,000 to 10,500, at the upper end of our previous guidance with full year Group operating profit including JVs expected to be between GBP440 million and GBP470 million

-- Ended the period with net cash of GBP654.9 million (H1 2022: GBP642.4 million)
-- Renewed revolving credit facility in July 2023, increasing it to GBP600 million and extending maturity to July 2028. The new facility includes sustainability linked performance measures

[beckers2008] 01/8/2023 19:09

Sikhthetech'

Our resident pessimistic village idiot, lol!
I see you pos TLY is below where I told you it would be,

'Sikhthetech'
What was the average house price in October 2018 when you were calling a crash, compared to now.
Considerably less, lol!

You are a clueless mug-punter losing over 30% in a day, lol, just lol!

You should be watching the 'House of the future' on BBC1. You may learn something!

[time 2 retire] 01/8/2023 16:24

Sikh, less than 4% drop YOY, still nowhere near the 40% you predict.

[sikhthetech] 01/8/2023 15:11

affordability still a major problem.


UK house prices fall at sharpest rate for 14 years, says Nationwide

UK house prices dropped at their fastest annual rate for 14 years in July, according to Nationwide.

The building society said prices had dropped by 3.8% - the biggest yearly decline since July 2009.

Nationwide said mortgage interest rates remained high, making affordability a challenge for house-buyers.

"The average price of a home in the UK is £260,828, said Nationwide which is about £13,000 below a peak in August last year."

[ymaheru] 30/7/2023 16:17

Spoke to an agent last week, saying that asking prices are 10% down on average in this area. So, market is soft.

I’m not buying rentals at these interest rates/ prices.

However, all this means the market is weak and paralysed. There’s not a guaranteed crash (or further weakening).

If (core) inflation starts heading down now, then the worst might well be over.

[scobak] 30/7/2023 15:49

Another crackpot?

[owenski] 25/7/2023 13:51

"Beckers200820 Jul '23 - 12:12 - 4532 of 4532

'Sikhthetech'

You are the biggest fool here as you believed I had a holding here, still got that egg on your face.

You also stated on here that 'what I post influences the SP' lol!"


Spot on

[beckers2008] 20/7/2023 11:12

'Sikhthetech'

You are the biggest fool here as you believed I had a holding here, still got that egg on your face.

You also stated on here that 'what I post influences the SP' lol!

You still down 70% on that pos TLY, lol, you're a classic mug-punter!

Meanwhile... the positive from VTY CEO...
"Given the strength of the Group's forward order book, the progress on integration and targeted cost savings, the Board continues to expect to deliver adjusted profit before tax for FY23 in excess of GBP450m"

Headline from Alliance News...
"Vistry trading in line with expectations despite mortgage rate strain"

Have to say the HB's have been very pessimistic and now the surprise is to the upside!

[sikhthetech] 20/7/2023 10:43

VTY reported this morning.

They've gone from Net cash to net debt. They made similar comments to other HBs about a slowdown recently, ie over the past 4 weeks.


"The Group had a net debt position of c. GBP330m as at 30 June 2023 (30 June 2022: GBP115m net cash). The year-on-year increase reflects the working capital requirements of the enlarged group, investment for growth in the Partnerships business, and cash spend on integration and fire safety. The Group expects net debt to reduce to c. GBP150m as at 31 December 2023."


"Following the recent increase in the Bank Rate and mortgage costs we have seen a slowdown in the open market private sales rate over the past four weeks. Both our Housebuilding and Partnerships businesses are mitigating this through bulk transactions with Housing Associations and Local Authorities."

[pinemartin9] 20/7/2023 10:32

Nice to see shorters scrambling. Don't swim against the tide!

[sikhthetech] 20/7/2023 10:31

Beckers2008,

Oh dear, this is the poster who has been completely wrong.


She was claiming PSN was totally oversold mid Oct.

The share price was around 1450p when Becky posted this in Jan. The share price fell afterwards, as predicted.





Beckers2008 - 27 Jan 2023 - 15:05:55 - 3998 of
'Sikhthetech' you have down a great job ramping this down from mid October! Lol!

It's all in the price you fool and totally oversold in Mid October, only a fool wouldn't know that, but you are the village idiot after all, aren't you, lol, just lol!


my reply
sikhthetech - 27 Jan 2023 - 16:24:49 - 3999 of 4529
Beckers,

"It's all in the price you fool and totally oversold in Mid October,"

You've been saying that since last March when PSN was around 2200p. So nearly a year ago and following your SIX MONTH in depth research!!! whilst I was saying don't buy HBs when PSN share price was around 2200p..

Only a fool would have been loading up on HBs last March and then buying on the way down from last March!!! But then again you don't want to mention you've been buying since March last year, do you...It'll make you look a bigger fool than you are..

lol

Best to trade hyped sectors.

[sikhthetech] 20/7/2023 10:25

Blue59
"Probably time to close your shorts and bet the other way"


I don't currently have a short on PSN.

I have been saying best to trade for months. In my previous post I said 'HBs are worth trading atm'

It is easy to trade shares whilst maintaining a negative stance on the sector. I've done it lots of times before.

[beckers2008] 20/7/2023 09:42

GLG Partners have reduced their short further to 0.66% as announced yesterday.
They better get a wiggle on, lol, just lol!

[beckers2008] 20/7/2023 09:16

b59,

'Sikhthetech' has been wrong for 5 years, lol!
How much was the average house price in October 2018 compared with today,
Significantly less, lol, just lol!

[blue59] 19/7/2023 19:15

stt - Probably time to close your shorts and bet the other way! You've been right for a long time, don't go and ruin that now!

[sikhthetech] 19/7/2023 16:17

There you go, as expected, HBs restructuring to manage overheads in a weakening market.

HBs are worth trading atm


HBs restructuring. Expect dividends to be cut.


Redrow to shut two divisions as it launches restructure

"Listed housebuilder Redrow is to shut two of its 14 regional divisions as part of a restructure launched to “manage overhead” as it prepares to reduce output in the weakening market.

The £2.14bn turnover firm is to shut its Southern and Thames Valley divisions, based in Crawley and Oxford respectively, but said it will continue to serve these areas from neighbouring divisions."

"The move comes amid deepening gloom in the industry over the state of the housebuilding sector, given recent rises in average mortgage rates to a 15-year high, and continued paralysis in local authority planning."

[sikhthetech] 19/7/2023 16:07

I did say they are a BTR builder, so it's obviously not a direct comparison...lol

The post was to counter your trolling mate Beckers2008 post, who assertion is that landlords are snapping up new build houses to rent.



Beckers2008 - 14 Jul 2023 - 15:58:26 - 4508 of 4522
'Sikhthetech'

I've been telling you for months that the majority of landlords sold up from the first wiff of the changes to the EPC rating legislation a few years ago.
50,000 landlords sold up to year end 2022,
These properties were largely 'D to F' rated.
Landlords are now buying back properties with a 'C' rating to comply with rental legislation to be passed.
FTB's do not have a hope in hell of buying a second hand 'C' rated home as landlords are snapping them up.
Massive supply/demand imbalance driving prices ever higher. Expect that to continue.