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Also persimmon has forward sales till 2025 so even if a few pull out they will have easily forward sales to outlast 2023. If more people buy the forward sales could go even bigger,
If interest rates rises to 6% what do you think will happen to all the rents from private landlords!
Full employment and the economy is growing. Hello!! All you fear mongering ‘experts’ can put that in their prospective pipes and smoke it!
Why can we not expect a 17% dividend?
everything is speculation on the negative side.
Fundamentals are sound for the growth plan.
Cash in the bank I suspect will be near 1 billion if not more by April if you do the math
2022 was 90% sold by June factual.
If people try to get ahead of rate rises this may even cause a mini-boom as people try to get the 2/3/5 year rates lock-in.
Share price does not equal a cut dividend, it has been maintained except for the virus year for 5+ years and was returned after the virus.
Psn sells below average prices and is one of the cheaper new house builders.
Again to this date, no housing crash has happened I am betting that 17% holds time will tell.
'Take the divs and wait. Divs may drop but at a current yield of over 17% that seems a minor issue... They'll soon be back!''
If they half the divi or worse then look for a tenner or lower.
'Take the divs and wait. Divs may drop but at a current yield of over 17% that seems a minor issue... They'll soon be back!''
If they half the divi or worse the look for a tenner or lower.
wiscos - you cannot expect a 17% divi.
not sure what to expect but we'll have to wait until year end results whatever.
By then who knows where we will be
As it is my only investment I would use any divi to buy more PSN shares using the DRIP scheme.
If they decide to hold cash and not pay divi, then it's a long wait - a bit like the 2008/09 crash.
Cheers & GL - C
Take the divs and wait. Divs may drop but at a current yield of over 17% that seems a minor issue... They'll soon be back!
Added another 150 as well and also took my average down to £19.25. Quite a bit in red on this but I know it will recover.
And just added again - another 31 shares @ 1356p + fees, to increase my number of shares to 237.
That takes my average cost down to 1878p (from 1950) on my figures - byt my ISA says my costs are lower because I sold and bought back 100 shares earlier this month.
The outlook is very glum, but it has to be better to buy at 1356 than it was at 2325 - my first purchase on 7th March.
What a drop that is in just over 6 months.
So I reckon that's my full hit now - no more adding. Time to be patient - it looks like a being a vry long haul.
Not sure my original target to sell at 1/3 @ £25, £27.50 and £30 will ever come to fruition as I never thought it would drop down here. Mr Market has his moods and he does not like PSN at all these days.
The H1 results showed EPS of approx 106p for 6 months, and normally H2 is better.
Will the wheels come off the housing market ? - Possibly, but we are strange with our obsession of owning houses and the prices of them.
GLA - C
So just added another 30 shares @ 1470p + fees, to increase my number of shares to 206.
Average cost now down to 1950p (from 2025).
My planned first sale @ £25 is looking harder and harder to achieve.
Looks like being a long-haul now, with no chance of any short term trades. Patience required.
Cheers & GLA - C
Well it's the same old story. Good news or bad news, the SP takes a hit.
H1 results show pre-tax profit of £439m (8% fall) , on 11% lower completions than 2021 H1.
Assume H2 has profit as H1, would give 880m PBT, mid way between 2020's and 2021's FY profits.
I am sure completions will be greater in H2 than H1, in line with the normal PSN way.
So it's hard to understand a drop in SP from over £32 down to £17, but Mr Market does what he wants.
Hopefully current falls prove to be a gift, but you never know.
I've just added a few more shares at 1725p + fees, to increase my shares to 176.
Average costs now 2025p, and an SP of 1962p required to break even, with divis received to date.
A planned target of £25 to sell 1/3 of my shares seems an awful long away, but time will tell.
GLA - C
CSD
Our strategy is identical.
Guidance for 2022 is a small profit increase so think dividend paid in 2023 is safe £2.25.
Longer term dividends will track profits. I think a hit of up to 25% is factored in so future div say £1.70.
I don't think it will happen but if it does 8.5% return isn't a bad place to be.
My main holding by far and important to my retirement plan.
The end of another turbulent month for the SP, after a drop to the low 1700s, it's recovered to close the month at 1884, a wapping 1% better than the end of June.
The headwinds are still there with rampant cost inflation, shortage of tradesmen, and looming increase in interest rates which will make mortgages more expensive, putting some propective new house buyers under more pressure. From a company pov, they seem to be keeping margins intact, although units of completion may be a little lower this year. H2 always seems to have a bigger number of completions as managment push to hit annual targets. The company has no debt so avoids paying high overdraft/lending charges and should be able to generate some new income on earned interest.
According to the HL website, the P/E ratio is a lowly 7.5 and a divdend yield of 12.5% - both highly attractive to value hunters, and dangerously high in the case of the dividend. We cannot expect a 12.5% divi to be maintained long term so something has to give. Mr Market sees trouble based on the 35% drop in SP over the last 12 months, but are we starting the slow climb back up.
For me, this is my only share in an ISA, with a plan to add a little more next month and Sept, to increase my investment from £3K towards £3.5K or £4K if possible. With a current average cost of 2088p, this should drop a few pence with my next purchase. I have a target price in mind of £25 to sell around 1/3 of my shares, and would sell the lot if we get up to £30. Loking back at the charts, we followed a similar route from over £30 to under £20 in 2018, before climbing back to over £30 by early 2020 and then covid hit us - back to below £18 - and another climb to £30 in 12 months, and then back down again to where we are now.
As they say, past performance is no guarantee of future etc, but humans are creatures of habit. I am hoping for a repeat over the next year to take us back up the worry-wall, and in the meantime will wait until next March's divi is in sight. If recession gets bigger, then will just have to sit tight on any drop, and wait longer for recovery. Somehow the UK's housing market stays resilient, with house prices painfully high for the average Joe. Will the goverment bring back more incentives to help Joe Public, which are a big part of the high prices and the company's ability to make profits.
GLA - C
I'd say very safe as they are regulated by top tier FCA. Doesn't bother me if you pay commissions for each of your trades, each to their own. This works well for me, the spread is the same as anywhere else and the data is very good. The free ISA is also a nice bonus for the dividends here. Good luck to you with your investments.
Robinhood also uses ‘payment for order flow’ which is banned in the UK and one of the reasons they are not over here.
Didn’t Robin Hood trading app (free) stop people selling their GameStop shares so it could help the hedge fund get out of some of the hole it had dug its self into by shorting GameStop. Effectively loosing the small time investor lots of money.
The important thing is to check that your broker is covered by the £85k FSCS guarantee. I would imagine all the major brokers are, I'm with IG who are covered.
My understanding of commission free trading apps is they are usually screwing you on the spread or they are using your capital for hedging, shorting, etc. I've never used one myself but if something's too good to be true it usually is.
Yes agree with Steve comments there. Happy to stick with AJ Bell, and would have used Halifax if their IT systems had allowed me to open an ISA. Despite assurances after an hour long conversation as an existing Hfax customer, the application did not go through - their loss and AJB's gain.
disappointed to see another fall today in the SP. Over the last month we have 9 down days and 14 up days - yet the SP has dropped approx £4 or 20%. Not a pleasant trend to say the least. The SP has dropped approx 40% over the last 12 months. When will the tide turn in our favour ?
Sitting on a 11.7% loss at the moment, despite buying my first batch at £23.25 in March.
Plan is to keep adding little by little if funds allow.
No rush to sell, so fingers crossed we head back to £25 plus
GLA - C
Equilibrium. How safe are those trading platforms with your money, I have six figures in my trading accounts and use Halifax for my isa and share account as I would like to know my money is safe.
Just imagine the shock if your account was emptied due to trying to save a few quid on trading costs.
Or buy through Freetrade or Trading212 (free investment ISA) and pay zero commission per transaction. Now that is Tesco esque ??
AJ Bell have done their little tricks for me in the ISA.
Spent £200 buying 11 more shares yesterday, for a £1.50 commission.
Today bought 4 more shares with the DRIP for another £1.50 commission.
So now increased from 127 to 142 shares with lower average cost of 2088p, down from 2121p.
Not a big difference obviously, but in the words of Tesco - every little helps.
Next step will be to add another £200-£250 worth next month, on the fixed deal date for £1.50 commission.
Hopefully keep adding a few more shares bit by bit.
GLA - C
csdi, that sounds like an excellent way of doing it, better than swapping from one share to another, at least then you know your adding value to the shares you already own, and will be able to bring them back into profit earlier, i have been using the money from my sell off here to lower my averages with some of my other shares, you have to be very very lucky to find the bottom price of any shares, definitely not something i have been lucky with, hopefully in the next six months or so we will all finally get rewarded for it, just a difficult time for investing at the moment and with no idea when the shares will stop dropping and the tide will finally change, hope to get back in here at some time, but things can change very quickly sometimes then you find out you have missed out, so might have to accept that
best of luck all, and let's hope this will turn from a bear market to a bull market very soon
Hi Robleo
I've no idea how low the SP may drop to, but I am happy to add at this current price for the long term.
It will lower my average costs slightly, but I am only adding about 15 shares to my existing 127.
Will add another couple hundred quids worth in August and September too and then hold for as long as necessary.
I have a target price to sell some at £25 if it gets back to that level. At the moment it looks terrible, but we all know it's a long term game unless you are day trader looking for fast returns.
GL - C
Kentio, i sold up the day before exdiv mate, right or wrong decision only time will tell, as we just can't predict what's ahead of us right, now, but i will be looking to get back in here at a later time as i think there will be a good profit to be made here when things settle, and i wish you all the best of luck
robles, be. strong, hold on . The. housing market is still strong. PSN have. lots of. cash and I feel the. dividend. is. 100% secure - at least. for. next. year. Good luck.