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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Pochins | PCH | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 44.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 44.50 | 44.50 |
| Top Posts |
|---|
Posted at 05/9/2012 09:50 by jonwig I looked at this a few years ago.Yes, the asset backing is tempting, but I will never buy PCH, as the various family interests hold about 80% of the stock between them. There's a fashion for de-listing and this looks to be a prime candidate. |
Posted at 20/2/2004 18:33 by sleepy Thanks for the suggestion of Bellway - I will take a look at it.I expect that the Pochin results will be out next week. I'm hoping for a further increase in the dividend. |
Posted at 20/1/2004 14:39 by forensic The merits of Pochins was brought into the public eye last year by an article in the Financial Times by John Lee where he added Pochins to his FT Portfolio. John Lee is a shrewd and very successful private investor and has been a long-term shareholder in Pochins.Pochins activities comprise building and civil engineering contracting, property letting and development, specialist plant hire, specialist directional drilling subcontracts, concrete block manufacture and housebuilder (a new activity this year). Over the years Pochins has an enviable record of significant growth in profits, net asset value and dividends. Share capital has remained unchanged with no dilutive share option schemes or other issues of share capital (apart from a 19 for 1 bonus issue to existing shareholders in 1995). The Accounts for 1986 showed a net asset value of £6.231 million for the group. The latest Accounts for the year ended 31 May 2003 show a net asset value of £44.789 million. The compound growth rate over this 17 year period equates to 12.3% per annum. All of this growth has come from retained profits and property revaluation surpluses. A similar calculation for the annual dividend growth rate between 1986 and 2003 produces a compound growth rate of over 13.7% per annum. This it what I (and Mr Lee) would call a blue chip share. Some key points about Pochins: (1) It owns Midpoint 18 in Middlewich which is a major mixed-use development which will eventually total 350 acres. (2) It operates the biggest fleet of concrete pumping machines in the UK. (3) Net asset value per share at 31 May 2003 was £2.15 per share. (4) The Board has signalled a more progressive dividend policy. The 2003 Report stated: "This increase reflects the board's intention to adopt a more progressive dividend policy providing it is justified by trading performance and underpinned by a prudent level of dividend cover." (5) Rental income from properties was over £3 million in 2003. (6) It had a secured order book for the construction division for the current year of £42 million as at September 2003. (7) In recent years a growing number of property joint ventures have been entered into which are contributing to growth. In relation to prospects the Chairman states in the 2003 Report: "We have a healthy order book and, with further benefits from reorganisation anticipated, I am confident that the current year will add to our continuing success, especially if some of the possible development sales we are currently negotiating are finalised and completed in the year." The next set of results are the interims and are due to be announced in February. |
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