Watkin Jones Share Discussion Threads

[hybrasil] 15/3/2023 05:00

Moodys said yesterday that they expect interest rates to remain higher for longer

[disc0dave45] 09/3/2023 13:32

Fair play for digging out the notes on subsequent events, but note the last sentence in particular. Yes your "rough" workings out (must have been very rough!) are correct with the proviso as stated. Either way the lower you make the NAV there's even less chance you will get in at that price. Are you now looking at 56p?.....no offence but it's laughable IMO but good luck."On 9 January 2023, the main contractor on one of the Group's live third party-developed BtR sites entered liquidation proceedings. The Group intends to take on the remaining obligations under the build contract as main contractor. This is a non-adjusting event under IAS 10 "Events after the reporting period". The replacement of this main contractor will result in certain additional costs to the Group, however due to the proximity of this event to the approval of the financial statements an estimate of the net impact of these changes cannot be made at this time.

[hybrasil] 09/3/2023 12:06

Disco
Found my workings

Page 154 of accounts 256,430,367 shares in issue.

Page 150 of accounts 143,760,000 Net assets



56P Do you agree?

[goodpick] 09/3/2023 11:48

Hybrasil i challenge the assumption that we should value wj as a housebuilder due to uncertainty of sales.

Thats tosh - they have a forward sale pipeline and their business isnt asset ownership.

Perhaps watch the investor video.

[disc0dave45] 09/3/2023 11:38

hybrasil Appreciate your views tbh, at least you aren't flip flopping and a contrarian view is welcomed (at least you've been decent about NAV unlike some on here deliberately posting false info!).Not all HB's are trading below book value and don't see why this should either.....house sales are picking up now apparently (Truss has a lot to answer for!).Do see this possibly going lower but not less than 80, but nothing to support that view. Yes margins could come under further pressure but IMO it's priced in, HB's median sector PE is 9x, this is trading on a forward PE of only 5.5x, so yes I'll go for a rating on a par with the HB's, that's an uplift in share price of 64%! :)

[hybrasil] 09/3/2023 11:19

Disco

All I can tell you is at one stage I did a lot of homework on this share and NAV is NAV.

I don't know what I've done with my workings. So I'm sure you are correct at .69p.

Amusingly at the time of admission the company had a plane on the balance sheet. It seems to have flown away very quietly.

Come October either the market will have returned or it won't. I don't think it will.

My logic therefore is WJG should trade more like a house builder (because they have no certainty as to sales) and therefore at a discount.

I promise Im gone now till the trading update!

[christw1234] 09/3/2023 10:53

Hybrasil
Land prices in the city centres are not decreasing, and interest rates are forecast to increase construction costs, and labour costs are going up.
All the challenges are against the construction of PBSA at the moment.
Why do you think that the development of PBSA is way down on previous years, however, the demand is very strong in some cities.
The bottom line is you can't develop PBSA at a 20% return on costs in the right location. That's why I have changed my forecast to Hold

[disc0dave45] 09/3/2023 10:45

Last post (2884) was directed at Christ.

hybrasil - it’s obvious isn’t it, he sold up last week and wants back in lower so trying to paint a very different picture now.

By the way, NAV here is 69p, you posted it was “roughly”; 63p, yep very rough and highly unlikely IMO. It’s now at an all time low (sorry correction: within 13% of all time low following PW) and you want it to fall another 30% when net profit FY23 is forecast to be on a par with 2019, and FY24 net profit is forecast to be on a par with 2021 when the share price averaged about 230p. Good luck with your 63p.

[hybrasil] 09/3/2023 10:28

Christ

What changed?

In post 2773 you say "strong buy for me"

and in post 2783 " you will never lose money on WJ stock if you buy the shares wisely"

Interested in your reply

[christw1234] 09/3/2023 09:52

Just to say I have no Axe to grind with Watkin Jones.
I wish them all the best for the future
Investors should do their own research and not rely on my post
I am only giving my honest opinion having worked for over 25 years in sector

[christw1234] 08/3/2023 20:32

The proof is in the pudding with WJ’Shares at the moment.
I hope they can recover, the next six months will show what progress they are making

[rcturner2] 08/3/2023 20:08

I have filtered Christw1234 as he seems a bit of a nutter.

[christw1234] 08/3/2023 17:14

Discodave45
You can call me what you like the market doesn't lie, WJ’S shares have gone from
280 to around 90p.
Investors will make their own minds up.
I never called you personally.
We all have opinions on share stock that's why we buy and sell them

[disc0dave45] 08/3/2023 16:33

Nothing Chris posts makes sense.He's posting balance sheet data for H1 31/3/22, and is ignoring the most current financial position.He even can't admit he's posting misleading info and still failed to state that even then at H1 last year they had net assets of £157m.Waste of time IMO and folks are better off doing their own research.

[jeffian] 08/3/2023 14:45

I have no position or particular knowledge of WJG but as a matter of principle I'm always amazed how many people go to financial websites or newspapers for their financial information when the only verifiable (and easily accessible) source is the company's own audited and published report and accounts.

[christw1234] 08/3/2023 14:22

Disco
Why are you getting so wound up if you are not a shareholder
We can all speculate on WJ's future, I'm giving my opinion with my experience of the sector.
My figures were posted by yahoo around July last year.
You can't get away from their market cap has more than halved since then

[disc0dave45] 08/3/2023 14:21

Hi EIWill take a look thanks.Been looking at CPI (bit hot atm) and COST for recovery plays.Also MCB as a defensive recovery - at first glance debt looks ridiculous but any small increase in margin gives significant operational gearing as income is very decent.Good luckPs did you get COA?, I'm taking fresh look following recent update.

[essentialinvestor] 08/3/2023 14:14

Any of you folks like Henry Boot (BOOT) - not sure is their share price cycle low in yet
however the longer term record is strong. I hold a small amount, just for transparency.
I had hoped to add under £2 but that at not happen.

[disc0dave45] 08/3/2023 14:08

Chris
I’ve already posted up the yahoo finance link giving the balance sheet data.
Jeez are you still insisting that what you’ve previously posted is correct?, unbelievable. You may have more experience than me of this business but you know sweet fa about financial statements and general integrity.
I’ve no wish to converse further.
Folks DYOR, check the balance sheet for yourselves, either the RNS, their Annual Report, or the Yahoo link from my previous post. All of which will give you the correct data unlike Chris’s postings.

[christw1234] 08/3/2023 14:00

Disco
I'm not trying to mislead anyone
Please send me your email and I will send you proof of the figures

[disc0dave45] 08/3/2023 13:54

ChrisYou are full of BS, all your numbers from the balance sheet are wrong, why are you trying to mislead people?, you've had plenty opportunity to amend what you've posted but you refuse to.Here's the balance sheet data from yahoo finance and the numbers are what I've posted up:Https://uk.finance.yahoo.com/quote/WJG.L/balance-sheet?p=WJG.L