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Who they using to get a new CEO-lets hope its not their own HR/recruitment(useless) but a proper HH outfit.
agree here with sain@vision- has to be someone who has grown up in EA-track record
"Irrespective of high debt, which I’m sure they are looking into reducing in every area possible, they would have a much better year than expecting in light of events."
They have been fixated on reducing debt but stumbled at every hurdle ,the legacy issue weighing heavily . Morale sunk so low they have to dispatch LSH but would be surprised if they get much more than £25m
This is unfortunate as LSH have a strong logistics team ,an area where there is much activity
They have been getting plenty away in the regions with sales ratcheting up to the point where new inventory is not replacing the old
Still carrying some of the Inner London Hamptons & John D Wood sales offices
The key issue now is succession. I do hope they dont go outside the industry. Plenty of talent within
A good appointment will allow them to capital raise £15-20m which should l be sufficent to get the banks off their backs
Certainly the future is looking more hopeful
Countrywide is simply too big not to make good profits, they have many assets, valuation company, mortgage services arm etc etc etc.
Irrespective of high debt, which I’m sure they are looking into reducing in every area possible, they would have a much better year than expecting in light of events.
Record sales numbers, mortgage applications and surveys as a result of the stamp duty reduction, year end results in January, so wise to get in now before people clock on to this. And if in the mean time they are able to sell you a few assets to reduce debts, then what a bonus along the way. Brexit should have minimal affect, stamp duty until March, this is a goldmine and what a price.
BUY BUY BUY
The sales and letting arm of this business has let this company down since platts clueless stewardship. The back to basics plan may not have inspired the city, however the 4.00 share price fell sharply when the lsh deal stalled and subsequently fell through. Add to that the pandemic. The lettings arm was back firing on all cylinders last year despite the tenant fee ban and sales were making great strides forward pre pandemic, the sales arm has bounced back in marvellous fashion post lockdown with a little help from rishi. If countrywide can sell lsh to another party and pay down some more debt, the cause of the cliff edge fall from 4.00 - 51 can be made up in my opinion and quick. Big rise Friday. Watch this space, a double up from 1.50 - 3.00 could well be on. Obviously in my humble opinion
Surveying services ,good steady income ,pays the bills and often linked with financial services provide the mortgage,provide the survey
Just a quick trawl thru some of LSL regional branches and like CWD some going great guns with many with 50%+ of their inventory SSTC Even the moribund Marsh &Parsons have picked up a little
Not sure 25% fall in revenue is a good solid performance
LSL is pretty much a surveying firm now
Sales are the goose that lay the golden
Eggs and sales units are shrinking fast with no future plan
Yes having spent tens of milions buying in practices with individuals who have been successfully running businesses in their own right you would have thought there was someone who could step up to the plate
Failing that surely there must be someone in the property industry who would relish the challenge Golden opportunity -share options .
Failing that what about resurrecting the LSL deal whose results today were robust
Will be interesting to see how this plays out. Share price seems to be holding up remarkably well given that the two head honchos have decided they are not able or capable of making some tough decisions moving forwards and in truth both being responsible to some degree for the catastrophic fall in the share price over the last 3 years and some dreadful business decisions sending the business into a huge tailspin. What is probably most telling is in the BODS search for external replacements they openly admit that there is no one capable internally to step up to the plate when in the pre-Platt era there were plenty of candidates potentially but they all either jumped ship rather than agree to business suicide or were pushed out the door because they spoke their mind. Hopefully the light at the end of the tunnel is not a train headlight. Good luck to all.
https://thenegotiator.co.uk/breaking-is-major-industry-figure-robin-paterson-eyeing-up-countrywide/
And this too .Maybe stop the sale Its all happening 200p tomorrow ?
React News
@reactproperty
· 1h
Exclusive: Second surprise suitor revs up to buy Lambert Smith Hampton | @hatcherdavid
https://reactnews.com/article/second-mystery-suitor-revs-up-to-buy-lambert-smith-hampton/
Looks from the RNS that CWD are coming into play .Hold on to your hollyhocks
The regions romping away some with 60% inventory sold STC . No signs yet of Central London shifting stock though
Expect to hear news shortly that they have sold LSH for a rock bottom price maybe less than £20m and maybe another capital raise in the offing post results .Half a chance of raising £20m and adding that to the LSH monies at least brings the debt down to manageable levels and set them fair for the future
Years of watching a set of BODS ruin a company acting as an umbrella for a number of exemplar brands. Yes very happy with the news anyone else will do but hopefully the new successors will have plenty of skin in the game
I'll quote my 05Jun2020 post - 'It's been an interesting week this week. I think by July this market will streamline and gains to be had, matter of time. See you all in a few.' - SP 88p
Doubled as of now...you're welcome Sain. Speak soon.
Chase
Months of hating the BOD. SUCCESS!!!! Raise a glass Sain your dream came true. And look the SP rising also, you must be only cloud nine.
GLA
Chase
With Londoners on the move we can expect a lot of selling and buying activity over the coming months and hopefully having put the virus to bed next spring could see a massive surge in activity. IMO we will see the MC a lot higher in six months time.
A great weight lifting as the Dynamic duo are put out to grass .You would have thought however
that they would have successors already in place but noting surprises with the inept BODS
Great news. Let's face it anyone else will do
So it's a Long Goodbye at CWD .Should at least have a positive rub on the share price as he has tottered from one disaster to the next .
Same buyer increasing their holding. Potential bid or not you don't keep buying if you don't like the stock or the sector.
Sales inventory and sold properties on the rise .Dixons a bit of a bellwether for the regions
Dixons Northfield branch office have put 20 fresh properties on the market since June. 12 of those already sold STC
All the action seems to be outside London. Dash to The Coast
Taylors "Devon Riviera" offices Torquay and Paington showing a staggering 167 sold STC out of a healthy sales inventory of 333
Just a shame CWD have Basil Fawlty in charge
Another 104k buy towards the end of today
A few sales going over the line and still some offices shut London still sluggish but as usual Brum leads the way
Dixons back in fighting form
Their Erdington office with over 50% of inventory sold STC Northfield 70%
And another 345k buy today. Plus a couple of RNS lately
https://propertyindustryeye.com/countrywide-may-not-survive-the-current-challenges/