Haha.. Yes 2227 I remember our comparison very well!
Very interesting to look back on- we got it spot on with RDW. And as for Gleeson, well.. that is now nearly double the price of TEF and was the pick of the bunch by far! All bar SMP outperformed TEF significantly (mainly due to issues around its 9 elms development) and the basket of those 3 certainly outperformed TEF.
That being said, TEF looks relatively good value now at nearly half the price of Gleeson, but RDW looks similarly good… Read More
So a few weeks ago we identified several companies within the sector trading at identical share prices, but with different (superior near term) future earnings potential. It has only been several weeks but already a clear picture has started to emerge.As fully expected/predicted TEF has under performed, and a gap of c. 30p has now emerged.. yes this is a very short term comparison but I look forward to the gap continuing to widen over the… Read More
Strong update today by RDW- £306mn Profit before tax is well ahead of current broker consensus and RDW have outlined this at the minimum that will be achieved for the year ending June 17. Bodes well, and RDW has a tendency to under promise and over deliver.
I agree with you in part RIch- look what happened to Woodrow's and Wimpey's back in 2008, the merger nearly destroyed the combined entity, Taylor Wimpey, outright right at the end of the cycle! Ans a similar story for Bdev!
Could that happen here? I agree no one knows the length of this cycle, especially given article 50 and EU wide elections are imminent, certainly some risks on the horizon.
But then again, that being said, this time around no one has large debts which were what nearly… Read More
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