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Winkies appeared yesterday in Investor meets Company Well worth a look
https://www.youtube.com/watch?v=nrvdceSwSCs
Can only be impressed Refreshing to hear Directors to say exactly as it is without the usual flannel
Things are definitely looking a bit sweeter in Foxtons postcodes with instructions starting to increase s as one would expect a this time of year
Hopefully some more 7 figure sales
Investors can look forward to an exciting journey here Private equity are going to be all over this sector like a rash
If we don't get a bid before the summer, I can see the sp rerating on the next update and the anticipation of lower interest rates. In any event the rental income is so strong that the business is well set even at current levels!
Just reading all the reports in the media this afternoon, nothing in the Daily Mail money section nor the Times business and the Investors Chronicle report 'tentative recovery' at Foxtons.
City Am were quite bullish surprisingly but as there were no negatives in the trading statement for a change the market did their best to once again keep a lid on these.
Tree shake Friday tomorrow ahead of the weekend ??
Heavy selling lately, not surprised to see the price down today
What about bottom line result ?
Make sure that people are comparing apples with apples.
In estate agency sales, and particularly at present, sales agreed /sales pipeline are a different metric to sales completed /commission banked.
Yep, no dramas here !
The Times and City Am as well as those 'activist' shareholders will be disappointed.
My advice, keep quiet and let Gittins & Co. do their jobs accordingly !
🤐
Winkies are on "Investor meet Company" today at1 pm They should give some insights into the current state of the London market
Agace a steady hand on the rudder and usually relied upon on to give an accurate portrayal without candy floss
There is nothing not to like today . Maybe not suficentally attractive to stifle the moaners but ceratinly enough going on to attract any predators
Not a time to be going short
On BBC r4 this morning the ceo was asked about takeover talk and he was so avoidant in his response it made me think something must be close to happening - wishful thinking perhaps!
I think it'll naturally fall back to 52.5 or so then fingers crossed gradually move back up to 60. Just mechanics of the market. Fingers crossed we'll get beyond 60
Great numbers out today and talk of a take over- why the sp is not north of 60p is beyond me.
Not 33% or even 25% increase in sales but 17%. All looks good, market has marked us up a little on open. Fingers crossed we'll move back to and above 60 over time.
We'll find out in the morning after yet another trading statement will be released by the company, although expect management to play down the fortunes of the company for yet the umpteenth time.
I'm looking to add on the dip which comes around like clockwork whenever the company reports to the market !
Depends how the entry pipeline was YE 2023 for income in Q1.
The pipeline figure for sales is the probably the most important tracker end Q1-and I agree it will up-should be by circa 25% IMO
My spreadsheet suggests that Foxtons sales for Q1 will be about 33% up on the same quarter last year. Total revenue should be up 15%, assuming the rentals business is doing ok.
Upbeat. 1st quarter 2024 WINKWORTH
"Our portfolio management initiatives include revitalising ambition & growth right across the business.Sales agreed to the end of March 23% ahead of the same period in 2023, we are EXCITED BY THE OUTLOOK FOR THE CURRENT YEAR "
I suspect the appetite to sell is extremely llmited but there would be certainly be some buyers who could possibly table a decent bid who might want to use Foxtons as a vehicle for a roll out
Paterson probably bult up a stake around 50p-60 p
Certainly be gripping these very tightly
Knowing all this over the past few days, and the share price has only flickered. High PE, so IMHO limited premium if a buyer is found.
It's only a mtter of time before private equity behind Dexters.Leaders Romans looks for a listed home whether by a reverse takeover or a fresh listing
That's likely to take a big lump of investor £ out of the market so maybe undesrandable investors here want to get ahead of that
Personally I would like to see the current management take this further but certainly wouldn't be too unhappy if 135p was offered !
Bring it on
Wonkies been adding a bit of inventory last few week sand sales are ticking along OK
Good and searching question, especially for all those major shareholders that are severely under water here and want as much as possible to mitigate their losses after holding for all this time.
Here's my thoughts.
Anything under £1.00 no-one is getting out of bed for that let's be honest here !
£1.10 - £1.20 - success probability say 10-20%
£1.20 - £1.30 - success probability say 20- 30%
£1.30- £1.50 - success probability say over 50%
What any potential bidder has to be extremely mindful of is that pitch the bid price too low and then the likelihood of a bidding war for Foxtons could easily ensure.
Good for us !! 😉
Got to be worth a quid, surely
Here’s my question for you - if Rothschilds finds a prospective buyer, what price would you be happy to accept for your shares?
Well it's important to keep the troops happy If that,means a new car so be it Maybe these impatient shareholders ought to put their money where there mouth is if they feel the company is so undervalued and bring their own managemnt in .?
Perhaps they ought o be mindful of where Purplebricks share price was a few years in comparison to Foxtons and be grrateful/
The mergerwith Strike has added no synergy or added value
Opportunities will come Foxtons way to expand . The last thimg they want to do is to borrow money to acquire goodwill which has a nasty habit of eavporating as soon as the money is transferred.
Nothing wrong with steady as she goes
Should have spent all that money from buying brand new cars on a few new openings outside London.Until Foxtons look outside of its comfort zone its not maximising its brand IMO
Strike Up The band
Well that's certainly going to light the blue touch paper