Hi ya bud3 Jul 2016 11:08
We are gutted I sold Taylor Wimpey at £1.22, very well done if you are still holding looks as though it could go to £1.50 easy. Will hopefully get an opportunity in the next few months to but back there.
Sure here is a brief summary:
Market cap around 80 million
Net assets 148 million
Liabilities around £300 million
Profit expect for first half of 2016 5 million
Current dividend is nearly 18 percent but may be scrapped or reduced
Sales down by around 3-6 percent in recent times
Sp dropped from £1.80 to 61p in the space of a week from the 24th of June
Risk of covenants being broken but personally do not fell this will happen as H2 is historically their stronger half
30 million of cost saving will be achieved by the end of September
They are the market leader and win best distributor of the year award.
£7 million in cash
Trading at half the net assets with nearly 70% of the sp lost in a week is complete madness from
a asked drop of 4.5%.
Hedge funds loading up last week expecting a bounce of at least 20-30% in the next 2-3 weeks.
All imo - busy week coming up work wise catch up soon :-)