Workspace Share Discussion Threads

[brando69] 16/11/2010 16:11

don't see the logic of shorting a company that has just posted good results.

plenty out there posting disappointing results

[volsung] 16/11/2010 16:05

Not a huge amount per point and quite prepared to lose brando. Lots of small losses and a few big wins is the only way to play this game.
No paulrosie I didn't :)

[paulrosie23] 16/11/2010 14:32

volsung
Did you happen to bet on Audley Harrison to win at the weekend?

[brando69] 16/11/2010 13:18

if you've set you're stop at 26 you'll be put out of your misery soon enough i would think volsung. hope you've only gone a small amount per point

[volsung] 16/11/2010 12:04

Too late brando

[cockneyrebel] 16/11/2010 11:24

I seem to be long WKP - that pull back yesterday looked nonsense on what the co said imo.

Chart still in the uptrend today too - looking for new highs to come still.

Perhaps another chunky director buy or two on the way again.

CR

[brando69] 16/11/2010 11:08

volsung if you want to short a big company, try rolls royce. wasting your time here

[volsung] 16/11/2010 09:48

Fair enough

[johnsoho] 16/11/2010 09:39

You short away....I'm buying

[volsung] 16/11/2010 09:33

Time to short these I think. Stop around 26p. Let the games begin!!

[brando69] 15/11/2010 21:56

up to date snapshot of director holdings...

[purplebox] 15/11/2010 19:22

brando69 - 15 Nov'10 - 18:47 - 7010 of 7010

i guess always gonna be some for whom a decent update is not going to be enough, and who will look to chase faster rtns elsewhere.

Agreed - seems that the weak holders took some profit today.

Given the current market the only way for this is up :-)

[brando69] 15/11/2010 18:47

i guess always gonna be some for whom a decent update is not going to be enough, and who will look to chase faster rtns elsewhere.

[cockneyrebel] 15/11/2010 18:42

I thought the statement today was rather decent when I read it, especially as it was just a half year report.

Seem to get delayed responses here - I bet the Chairman was surpised at the reaction having bought 500K in Sep.

Think I'll try to get some at the opportune moment.

CR

[brando69] 15/11/2010 14:22

24.75 close tonight methinks

[brando69] 15/11/2010 12:30

unless we get any left field news, this isn't going to rocket... but as sentiment turns and confidence is restored, we should hopefully edge up to 28 over next few months

[stockadoodle] 15/11/2010 08:26

Good positive statement IMO. Nothing scary or surprising.

Happy to still keep hold of these.

[brando69] 15/11/2010 08:09

january goes ex divi

[bigman786] 15/11/2010 08:08

held these for a long'ish' time from 17p ... when do we need to be in to get divi although I have no plans to sell ..

[brando69] 15/11/2010 08:03

25p at the open

[brando69] 15/11/2010 07:49

18m worth of disposals planned at 4m more than envisaged - nice

[brando69] 15/11/2010 07:48

i would have thought that, in current climate, a statement like that should offer strong reassurance to existing investors and should tempt new ones

[purplebox] 15/11/2010 07:46

ards - 15 Nov'10 - 07:44 - 6999 of 6999

looks like a healthy although unspectacular statement. strong demand, increase in profit, nav and divi, lower debt.

More than healthy - they increased the dividend by 10% - extremely positive :-).

[ards] 15/11/2010 07:44

looks like a healthy although unspectacular statement. strong demand, increase in profit, nav and divi, lower debt.

[brando69] 15/11/2010 07:42

i can't see anything not to like here:

Highlights for the six months ended 30 September 2010:

Occupancy and Rent Roll

� Good level of demand for space with like-for-like occupancy increasing to
85.6% (March 2010: 83.9%).

� Total occupancy including refurbishment and development properties 83.2%,
up from 81.9% at March 2010.

� Like-for-like cash rent roll up 1.3% (GBP0.5m).


Financial Performance

� Net Rental Income up 4.1% to GBP22.9m (September 2009: GBP22.0m).

� Trading profit after interest up 32% to GBP6.6m (September 2009: GBP5.0m)

� GBP4m from disposals in the six months, with conditional contracts
exchanged on a further GBP18m of disposals at a significant surplus (GBP4m) to
the September 2010 valuation.

� Profit before tax GBP18.0m (September 2009: GBP39.3m loss).

� Underlying property valuation up 2.0% to GBP732m in the six months.

� EPRA Net Asset Value per share 28p (March 2010: 27p).

� Refinance of the former GE debt facility completed and average cost of debt
reduced to 5.6% from 6.7% in 2009/10.


Dividend policy

� Interim Dividend per share increased by 10% to 0.275p (September 2009:
0.25p).

Outlook

Commenting on the results, Harry Platt, Chief Executive said:

"We continue to benefit from the recovery in London's economy, and its small
businesses. With over 20 lettings a week Workspace's occupancy has been growing
for the last 18 months, whilst pricing has been firm for the last six months.
We remain focused on both improving our operating metrics, and on realising
value from the undoubted potential in our portfolio"