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Yes, wishing I'd sold up first thing to buy back in now.
Well Mr Pease has totally kitchen sinked all the bad news in 2023 and the 2024 estimates are actually quite good. I’ll be looking to add if it drops below 50p as it’s now very undervalued indeed.
You are right, this has been already announced. I worded badly sorry, I was looking at, provision in 2020 financial year, was it in the teens millions? Then new rules, another 30 odd, then tweaks and 30 odd this year. Suppose I should be grateful it has not been increased!
Like the rest of the builders, it is a trawl to find out what the cost is, if it will increase, and most importantly, how many buildings are done! I.E. when this scam can be put behind the builders, and Labour start taxing them for windfall profits!
It's not another 30m is it?
They disclosed this in June trading update, or am I misreading it
I hate how they word their provision cladding, it's so unclear
So another 30 odd million, and no further divies. i didn't expect the divies, but am seething at Gove shifting the remedial costs onto builders when they complied with the legislation at the time. Different story with the jabs!
I am especially sore, because I own other builders too, who have also taken a kicking.
However, when I worked in the industry, WJ seemed a well run outfit, so I'll be adding when this inevitably drops into the forties, as the divi yield should correct to less than 3%?
Hopefully that’s all the bad news on the table and dealt with.
I have a significant holding here but if we see a drop into the mid 40s on the back of this today, I’ll add again and then sit back for 2 or 3 years.
A sound business has taken a kicking over the last few years, but it’s not alone. Onwards and upwards from here.
That’s the last dividend paid, the year end divi is cancelled (zilch).
Any opinions? One thing for certain is that the 1.4p dividend remained true to their progressive report.
Someone who understands what inflation going down means for this company.
Of 261k shares bought in one go this morning. Does someone know something?
Hi Monty,
This information is from their progressive research which was released on 11 October 2023 - I hope this helps. This can be found on results & presentations.
FY23E is 1.7p
Hi Omar,
Where are getting your estimates from?
I can’t find any data on their FY 23 Y/E dividend, I’m just hoping it will be 50% of previous year…..
Hey Monty - we would love a 2.2p div, but, this is highly unlikely.
2023E is 1.4p
2024E is 1.7p
Watkin Jones wants to sit on cash to finish current projects and be able to pitch new projects as having the cash to move forward. The UK is lagging behind the US in decreasing interest rates and is predicted to drop to 4.25% by the end of 2024. It makes sense for them to have more leeway and use their cash wisely. Luckily we will still be seeing dividends this year and next and probably see a significant increase in 2026 - this is a long play that could see stock price returns of 20-25% y/y until their dividend pay out and economy improves.
Well last years dividend was 4.5p per share exd: 2nd Feb paid 2nd March. We are sitting on £45M of net cash now, so can easily pay a decent divi again in 2024. I’m thinking they will likely pay 2.2p which would be a nice 3.8% based on current SP. They might want to preserve all their cash to complete current projects but hopefully not as they have historically liked to reward investors with decent dividends. What are people’s thoughts regarding the next dividend possibilities please?
Not sure about the ‘Head & Shoulders’ personally but it does look like the dust & dandruff is disappearing and with shortages of student rentals and the chancellor looking to keep the housing sector buoyant and it seems to OK. I think the 3 land sales of which just one would be quite transformational and the cash on hand is excellent, this will all about the next results and condition of the balance sheet. I think with the new leadership and some hard lessons learnt WJG could do really really well in 2024.
I can't believe I've been doing this investing thing the hard way for the past 20 years. Looking at balance sheets, analysing the political environment. Managing the banking crisis/COVID/dot com bubble. All I needed to do was to look at some green and red sticks. I wonder whether Warren Buffet knows about this?
Sorry I'm only jesting and each to their own.
Anybody involved in renting private property to students can tell you that it has a dismal near term future. Removal of mortgage tax relief, increasing HMO regulation, interference and the imposition of multiple £30k fines, plus the last coffin nail which is the prospect of a labour government, with rent controls and probably a greater tax burden, is a gradual ramp up of reasons to quit. That’s without the extra hassle of a more aggressive and demanding student population, on top of foreign students who have a disproportionate tendency to abuse property and not pay rent.
So many of my landlord acquaintances are selling up and so many students cannot find rooms at ANY cost.
WJG can only benefit from the demise of the private landlord. They offset their debt against income. I don’t think they bear the same impact of council regulation, but at least it is a much lower cost per room. Our local halls of residence charges 60% more per room than private landlords. They can easily wipe out a students deposit with the removal of a few blue tack marks on the wall and if there is unpaid rent or damages, the student cannot pass that year or graduate from uni.
We private landlords can’t compete with that. I have two more properties exchanging this / next month and I can’t wait to drop the rest.
All good for WJG and set to get a lot better.
Sorry, my error, I forgot to specify the prefice, inverse for the head and shoulder formation. I have noticed there is a negative divergence, in the RSI index, which is more pronounced in the ROC indicator. This could be taken as an indication to tighten up stops. There is a small body Japanese doji , on 7/12/23, with low at 48.0, which could serve as a stop level, with spread 0.15, that could imply a stop of 47.85.
I see you now, an inverse head and shoulders. It's a bit sketchy but still useful, thank you. Possible C&H also visible in the hourly following that Nov shoulder high.
Agree with your b/o with volume. Not heard 'add the ATR' before but I can see how that works, thanks.
Corry
Refining the projected breakout sp, take the November shoulder high of 50, and add the ATR(average true range), of 2, so, 50+2=52. Keep an eye on volume, because a conventional breakout, is best accompanied by heavy volume .
Left shoulder began July 23 and right shoulder November 23. The heaviest volume , in the head and shoulder formation was in the lowest point of the head, in October 2023, which signifies smart money acquiring shares, in WJG.
Head and shoulders? May I ask what dates you are reading that across as not really seeing it?
Breakout from head and shoulders, price formation, which provides a price prediction of 65. There is however old supply from.previous trading at 63, which may provide resistance to upward movement. Positive divergence , in the Mac(d), indicator gives credence to the bullish position. Bollinger bands upper and lower, are both rising, suggesting a not rapid movement. According to the short, information there are no active shorts, with the last mention being early November 2023.
Close price 50.60p. Very nice. We'll see what tomorrow (Friday) brings.
Some profit takers at 50p and slight drop but all as expected....