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Order book looks to be holding
BUY weighted not many sellers...good so far
Good investment this. Once Brexit and Covid is under control we should be back to 800p, which is where we belong. Make investment now to reap reward in months and years to come!
Thanks mark
"The Group is well-placed to deliver a robust performance. We have completed substantially more homes in the first few weeks of the new financial year than during the same comparable period last year whilst maintaining a record order book.
· Encouraging trading since start of financial new year with reservations 12% ahead.
"This, combined with reduced investment in London, will deliver strong operating cash flow over the coming months to support our regional growth plans and, subject to market conditions, allow dividend payments to resume in 2021".
rest for Stu
Final Results
Fy Legal Completions Down 37% Due To Covid-19
Fy Revenue 1.34 Bln Stg Versus 2.11 Bln Stg
Fy Profit Before Tax 140 Mln Stg Versus 406 Mln Stg
Group Entered New Financial Year With A Record Order Book Of 1.42 Bln Stg (2019: 1.02 Bln Stg)
Im OK with them. Profit is down on the expect £179m @ £140m, but completions only down 37% with a record order book and strong demand. Also dividends back next year.
"Group Entered New Financial Year With A Record Order Book Of 1.42 Bln Stg (2019: 1.02 Bln Stg)
Since Sales Centres Re-opened In May, Group Has Seen Strong Demand, Especially From Buyers Wanting To Use Help To Buy Scheme
Expect To Resume Dividend Payments In 2021"
Can not find them
What do we think of these results?
Not looking good ...down today
Redrow warned in July that full-year profit for this year would be “substantially below” 2019 as a result of a decline in sales caused by the lockdown. Peel Hunt cut its profit forecast for the housebuilder by 56 per cent to £179 million. Like its peers, Redrow enjoyed a recovery in sales activity after restrictions on moving home were lifted in May and reported a record order book of £1.4 billion in July. Analysts will be looking for evidence that the recovery has continued.
Time to buy imho
It looks like the Help to Buy scheme may be extended beyond December which should provide a positive impetus to house sales.
“Buy to let investors have swooped to take advantage of the stamp duty giveaway “ says the Money section of the Daily Telegraph. The so called Bank of Mum and Dad is also moving in. James Holmear of Redrow said the waiting list for its Frenchay Gardens project in Bristol lengthened by 30% in two days after Mr Sunak’s announcement.
Order book 40% up on last year. Good enough to buy a handful today.
Nickel, i thought it was a good read because order backlog has grown and prices are holding - look forward 6 months and all good provided h2b is extended.
Profits to be substantially lower.
Not a good read for RDW or the housing sector
Redrow PLC HSBC Buy Buy 740 410
740?
I'd be back in the money!
Let's see.
Hi anon
Profit on rdw down to 22%. I intend to sell if it gets below 20%. Think it is inevitable it will happen so might be a better idea to do it now, just thought it wouldn't happen until late summer or Autumn.
Never know there could be a bounce tomorrow.
BoL
Hah!
(just laughing to myself)
Well, hopefully that's 489 gone.
What's the next target, 655?
That would be good lol
As supply chains stabilise, the immediate focus is to fulfil "our substantial order book that stands at £1.4bn of which £0.9bn is contracted.”
Hi anon
Rdw now 461, don't know how low they will go say 400, before a recovery. Then my idea is to sell now and buy back at 400 = X no more shares, + a big loss to set against CGT. Nothing wrong with making a loss and (almost) never too late to get out.
I have sold off 75% of my old Port in HB's (far too late, so big losses), but got into ggp and ncyt which have done very well for me. Much better to get out of shares doing badly, than top slicing shares doing well.
All remaining shares in Builders in profit cos initial Buys - only 4 left (cos no tw), but bdev +40% (av 352 now 493), bwy + +71.6% (1423, 2443), psn +43.3% (1522, 2165) and rdw +19.4% (386, 461).
I intend to sell any/all of them if it looks like they could be going into a loss position for me.
Top slicing only makes sense when you become worried a Company share is making up too much of your Port, which is becoming the case for me now with ggp, almost 50% of Port, (but even after many top ups, 69% up now).
My simple idea is reward success (buy) and get out of failure (sell).
BoL
I definitely agree.
I think we've seen nothing yet.
We borrowed 60bn in April. It's only the start.
I'm clambouring to get into cash, by topslicing where I can.
But there aren't many shares where I can do that.
Some tough decisions are coming up and I'm going to hve to swallow some serious losses, I think.
Hi anon3
Still don't think we have hit the low point yet, recession on the way and noticeable that Merkel and Macron are planning to minimise this. Wouldn't it be good if they were also talking to us?
Virus news showing signs of improvement, but still got to hit the recession, and finalise Brexit.
BoL
Not a brilliant rise today, but at least the trend is still up.