Raven Russia Share Discussion Threads

[oniabsta] 12/3/2012 08:12

multiply by 0.637 (current exchange rate) = 75.8p

[jbarcroftr] 12/3/2012 07:59

What are 119 cents in Pence please.

[ygor705] 02/3/2012 16:46

Steady as we go today. 70p would be nice and it looks doable.

[matt123d] 29/2/2012 22:16

Yeah decent price action today, can see a run to 70p pretty quickly if the general markets hold up.

[ygor705] 29/2/2012 16:59

The share price appears to have finally broken out of its 8/9month downward trend. Volume up as well which is a good sign. Let's hope we're in for a run.

[hannahc] 05/12/2011 14:45

Please click on the link below to access our latest research report on Raven Russia:



Kind Regards,

The Equity Development team

[hannahc] 05/12/2011 14:45

Please click on the link below to access our latest research report on Raven Russia:



Kind Regards,

The Equity Development team

[simon gordon] 21/11/2011 13:10

Raven's big on Russian sheds, where others fear to tread

Anton Bilton, pictured, is to instal a Peter Howson portrait of Lazarus in his Knightsbridge office overlooking Hyde Park, replacing a huge picture by the same artist of a doubting Christ.

Make of that what you will. But it comes at a moment when the 47-year old developer is winding up his UK operations to concentrate on Russia.

Bilton's Raven Russia has built 11 huge storage sheds around Moscow and St Petersburg, from a standing start in 2005. A bullish statement on Monday suggested Raven is flying. The London-listed firm made $86 million (£54 million) profit in the first half of 2011 on 10 million square feet of sheds valued at $1 billion.

The slightly delicate question is: how come you can do this without getting mired in the, er... more murky side of Russian business. "By not working in central Moscow and dealing with mini-garchs rather than oligarchs" says Bilton. "It is why we chose to stick to developing industrial units."

The "we" includes his energetic 50-year-old chief executive, Glyn Hirsch, and 10 staff in Guernsey, where the company is registered. Another 10 reside in Cyprus, which has tax treaties with Russia. But the bulk, 70, work in Moscow. Bilton flits between these offices and London from his new home base in northern Ibiza.

Here, he anchors his moderately glamorous life with his wife, former model, Lisa B, and their children: so, why unglamorous sheds, and why Russia? "Others misprice the risk. It really is not that risky." Raven Russia plans to go on steadily building sheds. Well, at least for as long as others fear to tread.

[ygor705] 31/10/2011 21:36

Chart looks quite interesting here. Also moved against the trend today. Would not be suprised to see it move up after the dividend payment is out of the way.

[hectorp] 30/9/2011 07:29

Very interesting, Muzerewa. No-one has seen to contradict your view I see.
I was too hasty in considering the ords.
I may go for some prefs, assuming the company stays in business which seems reasonably likely in Russia etc.

[muzerewa] 05/9/2011 14:28

I am struggling to see value in the Ordinaries. Ignoring revaluation gains, the company is losing money according to its latest financials. Even assuming the property portfolio is fully let, annual net profits as per the Revenue account will be less than 2p a share, meaning a P/E of over 30 based on current share price. The main profitability drag is the company's huge administrative costs. Around $40 million a year, on a portfolio with NOI of ca $120 million! Over time, as the real estate portfolio grows, the relative size of the admin costs will hopefully fall as a proportion to NOI, but this will take place over years. For the foreseeable future, unless the admin costs can be cut quickly, the Ordinaries deserve to trade at a very substantial discount to NAV.

[hectorp] 31/8/2011 18:09

I should have bought the ordinaries I can see!
Having vacillated for 24 hours I missed the 2 day rise, which is around 18-19%.
I'll now have to wait for a drift back to maybe 55p. However this could go to 70p rather quickly! So well done to patient holders.

[mathisvale] 31/8/2011 18:03

Wow - it has been a long time since RUS had a 12% daily rise. It has been good value for some time, but I guess it takes time for the penny to drop.

There are still lots of other stocks out there where value has gone unnoticed. Patience is a virtue - and it makes you rich !!!

[hectorp] 30/8/2011 12:55

O PS ! I can't find the EPIC for the Prefs...

[hectorp] 30/8/2011 12:48

Thanks for the Prefs advice guys.

[jonwig] 30/8/2011 11:46

EV - if you believe them, annualised NOI will rise to $115m against the current $37m. We'll need to see FY results before confirming that.

The ERV of 12% makes valuation upside more likely, at least in the short run.

I've no axe to grind, as I'm in the prefs and only looked through these results to check there was nothing wrong.

[envirovision] 30/8/2011 11:14

Jonwig, theres only 15% of the portfolio un-let by the look of it. I guess given they might be able to get another 10% to break evens but what sort of a pickle if the property cant be written up any further or has to be written down ?

I understand the Russian economy is supposed to be ok so long as oil can stay over $80 per barrel.

[montyhedge] 30/8/2011 10:35

I'm just scare of russian assets, anything can happen.

[jonwig] 30/8/2011 10:33

H - if you follow the money, the BoD have been significant prefs buyers and seem to take their pref dividend in scrip.

[hieronymous1] 30/8/2011 10:32

The preference shares are now quoted on the main market, so ISAble.

[mangal] 30/8/2011 10:30

I hold the prefs in my ISA; so yes, ISA-ble.

[hectorp] 30/8/2011 09:32

I take it that the existence of the preference shares messes up any reason to hold the Ord shares? I've been out for several months and will need to decide which to go for. I DO see the possibility of at lest 30% upside due to Russian location. good lettings etc over a one year period and the pref people get good perks.
IS there a downside to holding the prefs?
Are they ISA-ble at all? sorry lots of qns today.