Redrow Share Discussion Threads

[mkwng] 01/12/2010 09:29

104-105p at now, down to blue line,
mayb will go up ??

[amla] 26/11/2010 19:09

Thankyou for keeping this dormant thread alive Master RSI.
We have to break this resistance and then it's up to 14.75p next resistance and then...?
Keep the faith.
There IS buying on the dips.
lol Alma

[master rsi] 25/11/2010 15:30

Keeps on the right direction this afternoon

[master rsi] 25/11/2010 11:53

Further movement up after yesterday's large volume 109p +3.60p the best rise of the piers +3.4%

[master rsi] 24/11/2010 12:39

The 3 large trades earlier, have managed to have a change on the pause of the last couple days

[amla] 22/11/2010 21:28

Oh Dear,someone has to buy a few shares or else we are going to test the year's low for a fourth time.This is ridiculous.
As the "boss" said recently:"Despite the Industry Frustration with the lack of Mortgages,Redrow remains in good health".
112p/113p is proving to be a resistance area.We filled the gap from 107p to 108p....and went down...on a down day.
There was a little frisson of enthusiasm for the builders and property companies,last week.TW.and BDEV rose from the grave of killer mortgages and there seemed to be life in the old dogs after all.The average broker estimate for RDW was 130p, one was 197p.Then why has the share price gone down?
This company is only 13% geared.
They are being very selective about land acquisition.
Has'nt the "boss" just bought a load of shares?
Please,Maestro RSI put some charts up to show how we are ready for a nice rise.
If we get taken private how much do you think we are worth?
If I owned this company,I would go private.It stinks to be so lowly rated...bunged in with the rest of the builders when we are providing very special housing at competitive prices.

[zeuseq] 19/11/2010 16:38

Yes been blue most of the day, all others red, if only we could read something into it.

[zeuseq] 19/11/2010 08:36

Lol bigbertie, yes confused with TW. as no doubt you were aware.

[bigbertie] 17/11/2010 22:03

Or Mr Morgan?

[zeuseq] 17/11/2010 11:52

Mr Morgan must be considering taking RDW private at some stage, how far will it fall before he pounces, i'm correct in thinking he did receive a waver to increase his holding above 30% without triggering a bid but surely he will take it private at some stage. Next few months are generally good for builders in the run up to March results so 130p easily at some stage.

[via con] 10/9/2010 10:03

From another section of FT

"Redrow held steady at 130½p as forecast-beating results were countered by news that founder Steve Morgan had agreed a waiver with the Takeover Panel to add to his stake without launching a bid. "

[via con] 10/9/2010 09:26

From today´s FT

CONSTRUCTION
Redrow overhaul starts to pay off
Group returns to black after revamp
Concern over lack of new buyers
By Ed Hammond
Redrow bounced back to profit for the year as an overhaul by returning chairman Steve Morgan started to show signs of paying off. The house-builder has shifted its focus from apartments towards upmarket family homes. The move helped Redrow lift its average selling price by 9 per cent to £149,000 during the year to June 30, while completions were 22 per cent higher at 2,587 for the year.
A modest £700,000 pre-tax profit, up from a £44m loss last year, was above analysts' expectations, which had ranged between a loss of £13.4m and £4.5m.
In spite of the positive performance, founder Mr Morgan, who returned to run the company in 2009 after a nine-year absence, warned that the lack of new buyers entering the property market posed a threat to the recovery prospects of the housebuilding industry.
Mr Morgan said it was a sad indictment on UK society that the average age of a first-time buyer had risen to 37 during the recession. "Until this issue is resolved, it will remain the major constraint to the full recovery of the UK housing market with overall transactions set to continue at historically low levels," he said.
The constraints facing new buyers entering the market have caused widespread concern among housebuilders and the Council of Mortgage Lenders has warned that a squeeze at the bottom of the housing ladder risks creating long-term problems for the property market.
Sales at Redrow for the 12 months to June 30 rose from £301.8m last year to £396.9m, while net debt was reduced by £167m to £47m, leaving the group with year-end gearing of 11 per cent compared with 73 per cent at the same point in 2009.
The group said it would not pay a dividend and reiterated its stance of withholding payment until it reached an "appropriate level of earnings cover".
Analysts at Panmure Gordon said Redrow's management had "demonstrated what can only be described – we believe – as a master-class in business recovery".
Shares in Redrow, which have rallied 33 per cent during the past fortnight on speculation that Mr Morgan might mount a management buy-out, fell 4½p to 125.8p on Thursday.
• FT Comment
Redrow indicated to analysts on Thursday that it was planning to buy back a chunk of its shares, as management felt the 12 per cent discount to net asset value on which they trade was unjustified. This would suggest that, if it gets approval for the scheme, the company will be buyers on the stock up to about 140p, a 12p premium to Thursday's closing price. And while Mr Morgan refuses to comment on rumours surrounding a possible management buy-out, that too could trigger a spike in the shares.

[lyntwyn] 09/9/2010 13:26

LONDON (Dow Jones)--Redrow PLC (RDW.LN), the house builder, Thursday announced it returned to profitability in fiscal 2010 and said it is in good shape to continue to make progress.

MAIN FACTS:

-Pretax profit in the year ended June 30 GBP0.7 million (2009:Loss GBP44.2 million).

-Operating profit GBP12.7 million (2009: loss GBP22.4 million).

-Revenue GBP396.9 million (2009: GBP301.8 million).

-Average selling price GBP149,300 (2009: GBP137,400).

-Legal completions 2,587 (2009: 2,113).

-Year end current land bank closed at 13,170 plots (2009: 13,130).

-Gross margin rose to 10.5% (2009: 1.8%) as a result of both volumes and average selling prices increasing.

-Net Debt GBP47.1 million (2009: GBP214.6 million).

-Net Assets GBP435.9 million (2009: GBP293.5 million).

-Gearing 11% (2009: 73%).

-Basic and diluted EPS 0.2 pence (2009: loss 14.7 pence).

-Well placed to respond to the demands of growing the business in a challenging environment.

-Remains in a period of tough economic conditions and uncertainty, but expects to make further progress during the current year.

-In volume terms, Group has seen a small reduction in the number of reservations in the first ten weeks of fiscal year, offset by the increase in average selling price.

-Overall like for like sales in the year to date are marginally ahead of the same period last year.

-Shares closed Wednesday at 130.30 pence, valuing the company at GBP402.12 million.

-By Jana Weigand, Dow Jones Newswires; 44-20-7842-9314; [e-mail]

Order free Annual Report for Redrow plc

Visit or call [phone]


(END) Dow Jones Newswires

[kooba] 08/9/2010 17:30

more likely buying/bear closing ahead of the results tomorrow?
09 September 2010 Preliminary Results
15 September 2010 Annual Report and Accounts
04 November 2010 Annual General Meeting

[robbie paul] 08/9/2010 16:05

whiff of a bid.

[rkjones] 02/9/2010 10:05

Sells keep moving up but so does price . Whats the bet on a big late buy!

[rkjones] 02/9/2010 09:32

I,m watching these shares closely. Good rise yesterday but for most of the day sells outnumbered buys - a scenario for a dip. Last minute Buy order fulfilled right on close suggests MMs holding price up to fulfill an Buy order.

Same today, Sells outweigh Buys but 3.5% rise!

[megster] 02/9/2010 09:22

RK, so what are you saying? ('cause to be honest, it's all a bit over my head!) you're thinking it's possibly manipulation for a hiked rise or legit buying in anticipation of good news?

[rkjones] 02/9/2010 08:53

I'm not really a believer in conspiracy theories but todays trading activity throws up some unusual situations with regard to coded deals. Volume is low but note deals at 65, 1441, and 2462 being duplicated. Unusual amounts!!

[robbie paul] 02/9/2010 07:55

Citigroup upgraded housebuilder Redrow to buy from hold ahead of the full year results next Thursday. The shares climbed 11.1p to 117.9p.
Speculators remain convinced that founder and chairman Steve Morgan, who owns 29.9 per cent of the equity, will soon take the company back into private hands at £495million, or 160p a share.

[robbie paul] 01/9/2010 22:27

On the mid-tier index, housebuilders benefited from a big push from Citigroup, which put a "buy" ratings on every company in the sector. Clyde Lewis, an analyst at the broker, pointed out that the sector is now trading on a 35pc discount to asset values. Mr Lewis concluded: "Traditionally, this has marked a big buy signal or a large writedown in asset values. We estimate the latter is possible only if house prices fall by more than 5pc." Redrow, which Citigroup gave a 156p price target, jumped 11.1 to 118.1p. There was also renewed gossip doing the rounds that chairman Steve Morgan, who founded the business back in 1974, is planning to take it private.

[megster] 01/9/2010 17:35

.. don't know, profit taking then sweep up?

[rkjones] 01/9/2010 17:14

Interesting to see that sales exceeded buys over the day until a £250k buy comes in at close. Whats that all about!!!