Redrow Share Discussion Threads

[bigbertie] 18/10/2006 09:45

onward & upward - there must be something happening here surely!

[bigbertie] 10/10/2006 10:20

thanks laf, I've been searching for some bit of gossip or news to explain the recent rise. This rumour has been around on and off for a while, so I suspect there is some substance, perhaps BDEV directors rushing off to Wales for dinner, or some well-known property valuer seen visiting large Redrow land holdings? The Persimmon / Westbury takeover was rumoured for a long time before it eventually happened. I also notice Redrow ads on TV recently - perhaps they are trying to raise the company profile......

edit - in fact the thread title says it all. perhaps we should change it to "Barratt bid rumours surface again"

[lafiamma] 10/10/2006 08:11

From the FT today:

Housebuilder Redrow rose to 630p, up 1.4 per cent, as rumours of predatory interest from Barratt Developments, off 1.6 per cent at £10.98½, refused to die.

[lafiamma] 05/10/2006 12:24

Impressive performance

[bigbertie] 05/10/2006 12:08

UK rates held at 4.75%. Redrow still rising

[lafiamma] 02/10/2006 18:07

News like this boosting sector, I imagine:

[bigbertie] 02/10/2006 10:01

still heading skywards - Barratt also up, is something about to happen?

[bigbertie] 27/9/2006 12:57

someone has lit the blue touch paper today

[bigbertie] 25/9/2006 20:03

hmmmmm, I can't quite bring myself to part with them. I get the feeling that both Persimmon and Barratt are priming themselves in the medium term for a significant bid, and RDW looks like a target. Barratt themselves could be attractive to private equity, so the new CEO (who has just bought about £500,000 of Barratt shares) may want to forestall that by leveraging the balance sheet a bit, buying another co and heading into the FTSE100. Here's hoping - I hold Barratt too of course!

[lafiamma] 18/9/2006 22:44

"why would you take profit on RDW now, though? general fears of rate rises and weak house market? or do you not rate RDW?"

Yes, basically. I think the only thing that would cause RDW to rise much further from here would be another takeover bid in the sector, which is of course quite possible, but I worry about all of the above, longer term. More immediately I worry about a serious correction in the general markets and sentiment turning in the UK towards worrying about the strength (or rather, weakness) of the economy rather than the goldilocks scenario currently being talked about.

Overall, I'd say they're fairly priced.

[bigbertie] 18/9/2006 20:26

laf, you still haunting the builders' boards? I was out of most of them for the first half of the year, after all the excitement of last autumn. Luckily I held onto MacCarthy & Stone, though. Then in July I got back into RDW, CRST and BDEV, because I think more consolidation will come soon. BDEV is interesting because private equity have got builders on their radar screens now, and BDEV has no debt. So buy BDEV, raise £1 billion debt and help yourself to a monster dividend, run the company for a few years to generate more cash (letting landbank decline to 3 years supply) and pay yourself another monster dividend, then sell company back to the market.

why would you take profit on RDW now, though? general fears of rate rises and weak house market? or do you not rate RDW?

[lafiamma] 18/9/2006 16:24

I'd take the profit myself, although I hadnt had the foresight to go long in July, good call bertie

[bigbertie] 18/9/2006 09:50

What a great run, up 18% since I got back in (July). They go ex-dividend on Wednesday. With growing landbank and a progressive dividend policy it looks a good long term hold, especially as they must be a possible bid target. On the other hand tempting to take a quick profit....any other views?

[alansmith23] 12/9/2006 18:24

easy money. Reckon 750 next year.

[huttonr] 08/8/2006 18:07

just a entry to bring this thread back to the top of the list after redtelephones effort on all threads

[redtelephone] 04/8/2006 09:14

Better off now with tiddlers like Oakdene Homes now.Read below story from July 17th Evening Standard;

Gladedale set for £500m raid on rivals
James Rossiter, Evening Standard
17 July 2006
BRITAIN'S largest privately owned housebuilder, Gladedale, is ready to spend up to £500m buying up rivals.

Gladedale snapped up quoted southern housebuilder Country & Metropolitan for £72m in April last year. Earlier this year, Dipre said he splashed out 'just south of £50m' for privately owned East Anglian builder Premier Homes.

Gladedale's appetite for further acquisitions will fuel speculation that housebuilders are set for another round of consolidation. The biggest purchase so far this year was Persimmon's £643m buy of Westbury, which propelled it into the FTSE 100.

Numis Securities analyst Mark Hughes cited as likely Glendale target Aim-listed Oakdene Homes, valued at £48m (2007 P/E 2.9)- but did not rule out Crest Nicholson, which could sell for more than £500 million.

But Gladedale could itself fall prey to an approach from a larger builder. Analysts reckon Barratt Developments, Britain's second-biggest housebuilder, will hit the acquisitions trail once former Centrica executive Mark Clare takes over from David Pretty as chief executive later this year.

Newly published figures from Gladedale showed pre-tax profits grew to £61.7m from £41.7m over the year to the end of December, including a £10m contribution from the C&M purchase.

Turnover surged 39% to £348.3m. It is sitting on land bank with a development value of about £4.5bn.

[redtelephone] 04/8/2006 09:14

Better off now with tiddlers like Oakdene Homes now.Read below story from July 17th Evening Standard;

Gladedale set for £500m raid on rivals
James Rossiter, Evening Standard
17 July 2006
BRITAIN'S largest privately owned housebuilder, Gladedale, is ready to spend up to £500m buying up rivals.

Gladedale snapped up quoted southern housebuilder Country & Metropolitan for £72m in April last year. Earlier this year, Dipre said he splashed out 'just south of £50m' for privately owned East Anglian builder Premier Homes.

Gladedale's appetite for further acquisitions will fuel speculation that housebuilders are set for another round of consolidation. The biggest purchase so far this year was Persimmon's £643m buy of Westbury, which propelled it into the FTSE 100.

Numis Securities analyst Mark Hughes cited as likely Glendale target Aim-listed Oakdene Homes, valued at £48m (2007 P/E 2.9)- but did not rule out Crest Nicholson, which could sell for more than £500 million.

But Gladedale could itself fall prey to an approach from a larger builder. Analysts reckon Barratt Developments, Britain's second-biggest housebuilder, will hit the acquisitions trail once former Centrica executive Mark Clare takes over from David Pretty as chief executive later this year.

Newly published figures from Gladedale showed pre-tax profits grew to £61.7m from £41.7m over the year to the end of December, including a £10m contribution from the C&M purchase.

Turnover surged 39% to £348.3m. It is sitting on land bank with a development value of about £4.5bn.

[redtelephone] 04/8/2006 09:13

Better off now with tiddlers like Oakdene Homes now.Read below story from July 17th Evening Standard;

Gladedale set for £500m raid on rivals
James Rossiter, Evening Standard
17 July 2006
BRITAIN'S largest privately owned housebuilder, Gladedale, is ready to spend up to £500m buying up rivals.

Gladedale snapped up quoted southern housebuilder Country & Metropolitan for £72m in April last year. Earlier this year, Dipre said he splashed out 'just south of £50m' for privately owned East Anglian builder Premier Homes.

Gladedale's appetite for further acquisitions will fuel speculation that housebuilders are set for another round of consolidation. The biggest purchase so far this year was Persimmon's £643m buy of Westbury, which propelled it into the FTSE 100.

Numis Securities analyst Mark Hughes cited as likely Glendale target Aim-listed Oakdene Homes, valued at £48m (2007 P/E 2.9)- but did not rule out Crest Nicholson, which could sell for more than £500 million.

But Gladedale could itself fall prey to an approach from a larger builder. Analysts reckon Barratt Developments, Britain's second-biggest housebuilder, will hit the acquisitions trail once former Centrica executive Mark Clare takes over from David Pretty as chief executive later this year.

Newly published figures from Gladedale showed pre-tax profits grew to £61.7m from £41.7m over the year to the end of December, including a £10m contribution from the C&M purchase.

Turnover surged 39% to £348.3m. It is sitting on land bank with a development value of about £4.5bn.

[redtelephone] 04/8/2006 09:13

Better off now with tiddlers like Oakdene Homes now.Read below story from July 17th Evening Standard;

Gladedale set for £500m raid on rivals
James Rossiter, Evening Standard
17 July 2006
BRITAIN'S largest privately owned housebuilder, Gladedale, is ready to spend up to £500m buying up rivals.

Gladedale snapped up quoted southern housebuilder Country & Metropolitan for £72m in April last year. Earlier this year, Dipre said he splashed out 'just south of £50m' for privately owned East Anglian builder Premier Homes.

Gladedale's appetite for further acquisitions will fuel speculation that housebuilders are set for another round of consolidation. The biggest purchase so far this year was Persimmon's £643m buy of Westbury, which propelled it into the FTSE 100.

Numis Securities analyst Mark Hughes cited as likely Glendale target Aim-listed Oakdene Homes, valued at £48m (2007 P/E 2.9)- but did not rule out Crest Nicholson, which could sell for more than £500 million.

But Gladedale could itself fall prey to an approach from a larger builder. Analysts reckon Barratt Developments, Britain's second-biggest housebuilder, will hit the acquisitions trail once former Centrica executive Mark Clare takes over from David Pretty as chief executive later this year.

Newly published figures from Gladedale showed pre-tax profits grew to £61.7m from £41.7m over the year to the end of December, including a £10m contribution from the C&M purchase.

Turnover surged 39% to £348.3m. It is sitting on land bank with a development value of about £4.5bn.

[redtelephone] 04/8/2006 09:13

Better off now with tiddlers like Oakdene Homes now.Read below story from July 17th Evening Standard;

Gladedale set for £500m raid on rivals
James Rossiter, Evening Standard
17 July 2006
BRITAIN'S largest privately owned housebuilder, Gladedale, is ready to spend up to £500m buying up rivals.

Gladedale snapped up quoted southern housebuilder Country & Metropolitan for £72m in April last year. Earlier this year, Dipre said he splashed out 'just south of £50m' for privately owned East Anglian builder Premier Homes.

Gladedale's appetite for further acquisitions will fuel speculation that housebuilders are set for another round of consolidation. The biggest purchase so far this year was Persimmon's £643m buy of Westbury, which propelled it into the FTSE 100.

Numis Securities analyst Mark Hughes cited as likely Glendale target Aim-listed Oakdene Homes, valued at £48m (2007 P/E 2.9)- but did not rule out Crest Nicholson, which could sell for more than £500 million.

But Gladedale could itself fall prey to an approach from a larger builder. Analysts reckon Barratt Developments, Britain's second-biggest housebuilder, will hit the acquisitions trail once former Centrica executive Mark Clare takes over from David Pretty as chief executive later this year.

Newly published figures from Gladedale showed pre-tax profits grew to £61.7m from £41.7m over the year to the end of December, including a £10m contribution from the C&M purchase.

Turnover surged 39% to £348.3m. It is sitting on land bank with a development value of about £4.5bn.

[fletcher] 09/5/2006 13:23

" 77 acres of land in North Bristol on which it aims to build at least
1,250 new homes "


AT LEAST 1,250, are they sure.

[bigbertie] 16/3/2006 18:15

Damn - got out of these too early. Ah well, have to leave something for the other punters.

[bigbertie] 13/3/2006 16:11

BP.....hmm, I'll have a look

[monty burns] 13/3/2006 15:45

You've been quiet lately laf - been spending your ill-gotten gains?

[lafiamma] 13/3/2006 15:29

Agreed, the only sector I'm in is the US Homebuilding sector.

I'm long the 12 largest US Homebuilding stocks.

Don't fancy anything else.