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Excellent but Michael Gove is holding a gun to the head of the housebuilders saying either pay for the regulatory failings of all the governments since Tony Blair or I will introduce a lvey on you rich so and so's costing all investors 20% of their equity. That more than outweighs the cost of the remediations and lawyers fees but there it is!
The Group has delivered a strong trading performance since the start of the financial year. Housing market conditions remain favourable and we continue to see good demand for our homes. Our private SPOW1 rate in the last eight weeks was 0.98, reflecting strong sales momentum continuing since our reported FY21 sales rate of 0.80.
CRST is recovering today ,nice
should be good week for CRST
Barratt results would help today
300,000 share purchase from CEO
Basically, a Ronseal job today ~ they did what it said on the tin ~ with reality check EPS of 31.7p ahead of declared EPS of 27.6p but pretty much in line with what the scribblers had them down for which was 30p EPS.
It does mean that Crest continues to be a dull performer, though, with ROE of 10.1% which is significantly behind that of Bellway, at 13.3%, and well behind that of Redrow, at 16.6%.
So, while they have closed the gap, they have continued the trend of the past few years of underperforming their two cousins....
And this is also the case with strength of balance sheet...
Liabilities as a percentage of net equity, adjusted for intangibles, have consistently been higher for Crest than for the other two, and most recent figures now give 81% against BWY 42% and RDW 52%.
So, definitely no cigar, and this is reflected currently in the PBV gap between the companies, with Crest on 1.09 as of close of play last night, Bellway on 1.22, and Redrow on 1.27.
However, IMO, the lower PBV for Crest is not sufficient to fully reflect the current yawning gap in relative performances, and Crest is not a buy for me yet...
I reckon I'd be looking for around a 25% relative price drop for Crest against the others for them to be in the buying zone for me.
Strictly
good start,
GBX 346.60
2.06%
+7.00 Today
very good results but we knew that anyway, let see what the market thinks.
Beat consensus by 6% - will the sp rise? I think so.
Barclays rerate Crest - target price 430
BARCLAYS RAISES CREST NICHOLSON TARGET TO 430 (420) PENCE - 'EQUAL WEIGHT'
(Sharecast News) - Housebuilder Crest Nicholson lifted its full-year profit expectations on Thursday as the contribution from the sale of its share in the Surrey Longcross film studio was more than expected.
In an update for the 12 months to the end of October, the company said it now expects FY21 adjusted pre-tax profit to be "marginally ahead" of consensus of £101.2m.
looks good ,looking for a good day here
Just bought another £4k - bargain imv.
CRST is doing little bit better today
positive update. shame about the divi, was hoping for more - probably me just being greedy though.
i will be looking for an exit point around 480
wow that was very quick trade , nice
Crest declared a 4.1 pence per share payout, having not released a first half dividend last year. The company also lifted its profit guidance,nice
Up 3.3% and 2.2% yesterday & today, maybe someone knows good half yearly results are due on Thurs 24th June!?
Will this cause a seismic shock to the sp?
Could this have a seismic shift in the sp?
Gone the other way. Possible bottom £4.10?
getting there..... fingers crossed we might just see it this month
Any thoughts on this?