Taylor Wimpey Share Discussion Threads

[fewdollarsmore] 06/12/2010 13:06

Spenny - any chance you could do the business tonight?

[fewdollarsmore] 06/12/2010 13:06

Still not out of the medium term downtrend but above the short term downtrend... but I am no chartist

[careful] 06/12/2010 13:03

i do not understand this gap theory.
how can some point on a graph 8 months ago effect todays trading.
the punters would not even know.
charts gone mad.

[shaws37] 06/12/2010 12:59

Still a gap to fill from end of April 2010 at 41p.

[jibba_jabba] 06/12/2010 12:17

The gaps..

[sir rational] 06/12/2010 10:45

Nice steady buying, Directors knew what they were doing when they bought

[slytherin] 06/12/2010 10:30

Looking good at the moment. We've had a cup and handle of sorts. The handle is long, showing that substantial selling pressure has been overcome, so maybe we can finally look forward to some strong gains now!

[jibba_jabba] 05/12/2010 20:03

Sold a few at the close on friday, noticed some gaps on the 4 hour chart, not sure if it will revisit those areas, but will be prepared just in case, still got over 120k of shares, so i wont miss the boat if it rockets...

[sir rational] 04/12/2010 19:11

Taylor Wimpey chases domestic ambitions
By Ed Hammond

Published: December 3 2010 23:07 | Last updated: December 3 2010 23:07

During a frantic two weeks, Taylor Wimpey has quietly taken a significant step towards its long stated and, thus far, frustrated ambition of becoming a pure UK housebuilder.

The ignition of the sale process for its North American business, the negotiation of a new and more favourable financing package and the appointment of a new finance director should allow the company to breathe new life into its core domestic operations.

Sources familiar with the company said that the sale of the US and Canadian operations, which are expected to fetch about £600m, was not being done out of necessity, but instead as a move that would give Taylor Wimpey money to spend in its domestic market.

"The refinancing takes away any question of needing to make disposals, but the management want to unlock the money tied up overseas and use it to rebuild the land bank in the UK," said one person familiar with the company.

Another person close to the sale discussions said that the benefits of holding on to the overseas operations until the US market had returned to better health were outweighed by the toll that managing the US business took on its domestic operations.

"A fundamental part of housebuilding is being able to take high-level decisions about local issues, and holding on to operations in other parts of the world just dilutes the attention the management are able to give to those businesses and the company's domestic operations.

"You just don't have span of control to operate across different countries in an industry like housebuilding," the person added.

Another reason behind the decision to sell is an increase in interest from prospective buyers, including US housebuilders, private equity firms and specialist property investors.

While the US housing market is still in the early stages of recovering from one of the worst contractions in its history, there is a growing appetite for so-called entitled land – plots where infrastructure, such as roads and sewage networks, are already in place.

As well as entitled land on its books, the company, which operates under the brand name Taylor Morrison throughout North America, also has a number of high-end sites, such as the Mirasol development in Palm Beach Gardens, Florida, which hosts an event on the US PGA golf tour. Prices for Mirasol homes range from $800,000 (£508,000) to more than $4m.

News of the planned disposal came less than a week after the company completed a refinancing package, which saw it issue new bonds and agree more flexible terms with its banking syndicate. The proximity of the two events in no coincidence.

One key aspect of the refinancing, which is the second for the housebuilder since 2008, was to allow Taylor Wimpey to sell assets without the consent of its creditors. Under the previous agreement, all creditors had a say in both what it could sell and how it could spend the proceeds.

The company's management has often complained of the problems the old borrowing terms placed on their ability to buy land, as cash was used to repay debt rather than for growth.

Now though, with net debt down from a peak two years ago of £2bn to £650m and the ability to spend the proceeds of any US sale on buying new UK land, Taylor Wimpey looks a step closer to realising its ambition.
.Copyright The Financial Times

[127tolmers] 04/12/2010 17:39

In my view, the last month's events (refinancing & removal of restrictive convenants, directors' buys, potential US sales and improved US markets) have derisked this share.

The downside is now much smaller and the upside over the next year looking considerable. The press and the markets are just beginning to cotton on for a rerating.

I am still surprised that there has been no RNS on the US sale rumours.

[kfp] 04/12/2010 14:07

It looks better for them than it did a year ago, and they were over 40p then !

[smurfy2001] 04/12/2010 11:43

If they can get £600m, potentially reduces the company gearing well below BDEV and enable the company to pay dividends earlier.

The NAV would be lower but be offset by lower debt and be built upon by increasing their land bank.

Mixed impressions for me.

[kfp] 04/12/2010 11:35

careful
OK thanks found it, link for anyone else.

[kfp] 04/12/2010 11:27

careful
Is it possible to post it ?
Thanks
KP

[careful] 04/12/2010 10:52

positive article in weekend ft. about tw.

[imastu pidgitaswell] 03/12/2010 16:27

I wonder how much TW Espana pay for those regular puff pieces in 'trade journals'. It's quite a common form of advertising in continental Europe, plugs masquerading as 'journalism'.

Anyway, 3 is better than 2...

27p, woop-do-doo...

[slytherin] 03/12/2010 16:23

Gosh, we've sold 3 houses in Spain this year!

Sorry about getting carried away with the 27p. An eternal optimist.........

[smurfy2001] 03/12/2010 16:00

Spain property developer Taylor Wimpey de Espana have reported a 50 per cent rise in the volume of homes in Spain sold so far this year, compared to 2009, suggesting that Spain property market conditions are improving.

[imastu pidgitaswell] 03/12/2010 15:50

Up to 27p? Now you're just being silly, go and have a lie down...

[shaws37] 03/12/2010 15:49

you might not be far off with your 27p. rather see 42p min.