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And a nice £46+k print after hours
Needs the divi back to really get going again. Wonder when the shorter will quit?
Just have to be patient, once interest rate cuts happen (any they will happen soon) instutional investors will find btr and pbs more attractive again as the risk free rate falls.
I concur. Bad news already baked in. Ample provisions already made. An inline performance after so many warnings is a good thing for WJG! IMO - this is the bottom.
Not to mention an upgrade per the new CEO whose pedigree is just what’s needed right now and looks to be a really good addition to Pease as he tweaks his BOD after the current mess that’s become what was a highly rated investable company.
Good TU today, cash remains healthy, forward sold all done and new opportunity work in progress, rental and Fresh performing really well - No additional provisions needed - Every tiny issue kitchen sinked by the new CEO Mr. Pease - SP on its backside and only one way to go and that’s up - This is the Bull case and I expect to see this get a complete positive rating in the next 6-8 months if not earlier.
Thanks Monty. Much appreciated. I will take a look at all the points you have raised.
Monty how is your short position
@Monty, what you say is priced in. I have a sizeble holding here and look forward to the future div and upward price rerate.
Interest on loans and building reformations of £95M plus they brought a lot of land without planning permissions that are now being sold at a loss. Basically the last CEO screwed up and hid the mess for as long as possible. Worry is Pease and the current BOD were also on the BOD that messed up this destroying value and making any II totally afraid to invest. The whole lot of them should have gone and brought in new blood. Be a long time before we see any profit after tax that mean a dividend could potentially be payable - This is bear case.
The market is asleep. At this price there is no bear case.
Can one of the bears pipe in here with a fully developed bear case ? I would love to know why this is so crap…
Sorry I should have said they is a short on here I don’t have one I am a long term holder I need this to stay at this price so I can get some cheap shares I don’t see the BoE lowering rates yet so this is a good buying opportunity good luck all
Hope they are gone soon, they have made an L of a mess of the share price.
Citadel doing a good job on this... hopefully a TU in a couple of weeks may underpin a turn. Then again its a good opportunity down at these levels.
Citadel reducing their short, Saxman. Inflation falling fast - if BoE cut interest rates, even by a sliver, you could get caught with your pants down for a spanking.
Happy days got a short on here I am going to pick up some cheap shares here
Okay, phew, seems like it will not.
Corporations will still use this clause to pay 5% SDLT and class it as non-residential:
> 6 or more residential properties bought in a single transaction
Will this affect watkin jones as there's less demand for BTR? seems like it.
True, it's a risk of course. However the risk was when this company was trading at 5x the price, not now.
I see they just announced a forward sale as well
They have set aside £65 million not £13. They added £35m at last results but did also say that about £11m was due back to them from joint responsibility.
What do you think is the right number ? Unlimited?
Fundamentally, this is a 50-60m per year business (in normal years) trading below £120m mkt cap.
I suppose you are all aware of the Welsh Minister for Housing naming and shaming this company in the Welsh Senedd
In the heady days when the share price was riding high I drew attention to the massive remediation liability this company was looking at. I was ridiculed by some on this board, saying that WJ had set aside £13m for such work.
For those still in denial please read the Daily Post article or get a copy of the Minister's speech.
I told you so......
Seems construction and housing needs and rental shortages persist and prices are back “on” the up. This all bodes well for WJG, I’m sure the new CEO has got all the bad news and gremlins out now per the pretty disastrous updates and recent results. I wouldn’t be “at all” surprised to start seeing a lot of positives one by one from April (Spring time) as the sector picks up momentum. Quite vulnerable to a T/O right now as we can see quite a lot of big boy consolidation past 2 years & very recently also. I think at 50p or under this is an extremely strong buy - GLA PI’s (& II’s).
Seems construction and housing needs and rental shortages persist and prices are back the up. This all bodes well for WJG, I’m sure the new CEO got all the bad news and gremlins out in the pretty disastrous updates and recent results. I wouldn’t at be surprised to start seeing a lot of positives one by one from April (Spring time) as the sector picks up momentum. Quite vulnerable to a T/O right now as we can see quite a lot of big boy consolidation past 2 years also. I think at 50p or under this is an extremely strong buy - GLA PI’s (& II’s).
Harsh finish for sure. Panic sellers no doubt.