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I beg to differ, this will increase value of shares for LTH. BGK does not mess about, they have already cancelled 115000 shares, check evening RNS. Hopefully this will bring some sense into ODEY to cover his short. Although I don't think he will.
Todays statement reinforces the buy back over dividend policy which I too am not that happy about. Initial market reaction to the update was positive but I guess it is now focussing on the forecast drop in profits next year so down we go again. We are a long way from the heady days of £44.
Still holding but disallusioned.
just had a look at the company balance sheet and of course note there is £8.28 cash per share on there. So buybacks now, after the cycle has turned and op margin and earnings turning down a good idea?? hmm not so sure on that, if tehy need do buybacks -- sit on the cash and wait a year or so
Hi, i was wondering, what is Berkeley current dividend policy? i noticed it must have fallen to like 1%, what was the idea behind that -- inflating share price for bonuses by increasing eps? thinking to ditch these for something that has a better valuation and yield,
thank you in advance for your help. appreciated
Average buyback price at interims in December was £34.66 compared with todays market price of £38.80.
Good methinks
What's happened to the buy back strategy and the average buy back price versus the current share price?
Not good methinks.
Since the start of the buy backs (Jan 17), we have bought 10,921,936 shares at a cost of £378,511,009.29 for an average of £34.66. If there were no more buy backs from today onwards and it was 100% divi from now until the Sept 21 payment which would be the final one in the fixed scheme that the company set out ages ago, then it would have cost each shareholder £2.26 of unpaid dividend, and the current SP is £34.27 vs about £29 when the buy backs started - how much of that increase is down to the buy backs versus the general market is the judgement call.
Agreed. It would be interesting to know what the average share buy back price is so far. My feeling is that we are out of pocket big time.
Almost back to where we were in July. I am not convinced the share buy backs work. I would rather have the dividend
Many of the brokers have downgraded it and Shore has a price of £3350 as fair level. That is a long way down even after the big fall we have had. Still holding but should hve heeded the warnings. One day I will learn. GLA
He was!
Big drop today. Maybe Odey has it right though we have seen these swings before. Holding tight at the moment.
Hi MsMP Done nicely out of bkg, bought Nov-16 av price 2428, now 4321 (=78%), so I suspect he could lose money there. LSE builders under pressure right now, but bkg well managed and usually come up trumps after painting a bleak picture. Decreasing Divis (from memory but prudent move) and loads of cash. I have no doubt they will outperform the other LSE builders (bvs, crst and csp - which will have far more issues than bkg, if S*** hits fan). Thanks for message and I will watch them carefully - if much decrease in Sp I will bail out. Really hope he loses all his short, cos I hate the idea. Used to be based on Insurance - now a vehicle for chancers. BoL and thanks again - this is the information that is really useful on these Boards
Hedge fund tycoon Crispin Odey's firm Odey Asset Management has taken out �short� position, which is essentially a gamble that the share price will fall, implying that he expects a poor performance from Berkeley Group. Odey has staked a �45 million bet. Odey made a fortune from the credit crunch by betting against doomed banks. A year before the problems started appearing, he spotted cracks in the system and made bets that bank shares would fall.
Dear Boris, before the headlines are filled with news of doom are you going to make sure the behaviour of the big property owners and elite pre and post 2008 is suitably addressed and rectified. They didn't contribute pre 2008 to making a clean energy economy which could have yielded huge global orders and good will for GB Then they got their assets bailed out entirely by tax payer post 2008 and elite en mass incl Politicians refused meaningful pay cuts to reduce the tax burden. Will the big property owners pay back the tax payer ever? Will the elite admit their mistake and backdate pay cuts? I know a bit about the masons and they are experts at media manipulation and diversionary tactics. If you want to discuss apples you may probably be thrown a few oranges and reminded you are, in some way, less British or low born than the throwers! Is the masonic order involved in this media blackout re bailout of big property owners and lack of elite pay cuts? Is this more important to them than clean energy and progress, living standards and progress or providing a base that the next generation can build on? Is it correct that making a fuss about �30m to charity would pale if in fact a huge sum (�300bln?) had been received? Many thanks... P.S would it be better for a diverse economy if the size of property ownership was limited, freehold property was favoured over leasehold again?
Pulling back from the �42 high. Today's decline on the trading statement has moved the price into a strong support. Will it hold though? Wait and see.
2008 country bankrupt. Property and land banks worth as low as 10% current value. No bank loans available etc Gov steps in and unbelievably entirely rescues whole sector with massive burden to taxpayers Unbelievably no lien against assets of big property owners or landbank holders. All falls on taxpayer Building co. directors recognise that therefore their share prices will recover and so arrange bonuses based on a future SP rise ie not normal performance metrics. They possibly figure that the if the political system has ok'd it, then powers that be are on board so will get away with it. Meanwhle CGT for investors who try and save economy goes from 18% to 28%. Recession is exacerbated. Important infrastructure and progress is shelved or hugely delayed due one-sided bailout People like me have slobs from lack of intelligence blow somoke in face in 2003 but what happens here?? Elite can't be bothered giving paycuts immediately post 2008 Judiciary apparently can say ' not me, I don't understand O'Level economics!' Army and Intelligence likewise. No wonder no Marshall plan for Iraq?Can't add 1+1 for own economy Crown estate celebrates profitability - wonderful!! A lot of people have attained zero credibility. Their assets have to be bailed out ahead of normal rational 21C investment. Their actions will not be examined morally?? Now we know. Please write up history correctly
Hi Happy Investors and a very Merry Christmas to all. Looks like the recent sp rise will be a nice present. I would like to ask your opinions on the change in returns to shareholders policy. When the substantial RTS started it was to be paid as a dividend, which suits me well as it allows me to minimise tax cost. However, the idea of share buy back and dividend is much less beneficial to me. Would anyone care to comment?
i agree and great dividend policy
I have seen some big firms increased their short positions at the end of November and this week..They have been punished big time Today. I guess, this would make shorters to stay away from the Balfour’s trading report on Tuesday.
A good start to the day for the leading construction business. These shares should power through all the way to the next recession. Whenever that comes around. Great holdings.
The interest rate rise is just a start, Bank of England say will continue to rise in future as necessary. Don't forget Property developers Borrows billions to fund their projects, so they get hit the hardest, commercial rate are much higher. Banks increase interest rate much more than Bank of England to protect themselves from possible interest rate rise.
Thanks Vlad Buying no Float and makes me think about selling BaseValue, but that would bring them down to 5 (bdev, rdw, bwy, psn & tw). For my system to work I would prefer 8, so could you recomend 2 or 3 other builders. BoL
Massive selling by the two main shareholding Directors - I am out. Vlad