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Perhaps not use negative margin bulk sales just before year end to increase turnover. In the past this may have cost shareholders £500k in a single person bonus and approx another £500k in discounts to meet the terms of the bonus!

If the current CEO is on the same half million bonus deal as Thomson was then we can expect another last minute bulk minimal profit fire sale in June. Perhaps the Board needs replacing as well as the Management Team?

Like football sometimes you have to bring in a new team of coaches to improve management and stop the rot before it is too late. The current lot dont seem to be up to the job so time for a change or sell it!

I agree, looks cheap especially in relation to its peak at almost £10 that Mr Harrison achieved before he was forced out. How clever was that!

If the management restructure works ( why would experienced successful industry managers risk going there? ) then yes the share price could eventually increase substantially. A bigger problem remains that their Site Managers and Sub Contractors, if they are good at their jobs, don't appear to stay long. The really successful new build companies value their people on site and build up long term relationships. This doesn't appear to have happened since Mr Harrison's brilliant management decade when he and his small team transformed the business from 3 sites to 73 sites.

It’s all about the quality of the management and the confidence the City has in it.

When the new management, since the brilliant Mr Harrison was forced out by the Institutional investors, decided to bulk sell houses at probably cost to inflate sales figures which triggered bonus payments it was a slippery slope. Cash is reality, Turnover is vanity ( and self enrichment ).

Says a lot about shareholder confidence when there is a senior management change and the share price goes up over 10%!

Outreach is BT's moneyspinning jewel no doubt but its treatment of BT's customers is appaling. Their engineers who visit are well trained, underworked and not really motivated as they know that with the advent of low maintenance fibre their futures are looking bleak. The other employees of Outreach just simply communicate through BT giving minimal information and have a take it or leave it attitude, no discussion because of course they have a monopoly in most locations. I am reporting them to OFCOM and the HSE. If they become consumer friendly who knows they may make even more money for BT.

Independant Directors should over sight any wrongdoings at Board level but in my experience, and since they generally represent major investment companies, they turn a blind eye in the interests of the share price. Despicable and unprincipled.

As a long term shareholder I have despaired at the poor financial control at this business over the past few years. Companies House shows that one of their sub contractors (owned by a person with a long history of dissolving his companies and being disqualified as a Director) has gone bust with hundreds of thousands of pounds of Gleeson’s money lost that they had paid in advance! I didn’t realise that sub contractors got paid in advance until now.
The new CEO is restructuring so let’s hope that he 1/ employs some competent accountants 2/ his incentive bonus is based on the share price and not discounted completions to hit the targets. 3/ the non executive directors take a keener interest in the running of the business.
The long term business model remains sound as long as the Management are.

The CEO chucked everything at achieving the 2000 target to enable him to get his huge 3 year bonus. Costs and quality sacrificed to achieve this and selling prices up 40% in the 3 years, so not such a low cost low price builder any more. Market valuation now £200 million so will the former CEO Mr Harrison, who took the share price from £1 to £8 in 10 years, return?

The Pledge is meaningless if they haven’t built anything that high!
The existing CEO and CFO will be throwing everything at it, regardless of cost, to achieve the completions necessary before 30 th June. Otherwise they won’t be receiving their 3 year bonus.
A takeover is quite possible once the new guy has sussed out the inside story to see if there are any surprises.

Dealt with Made for a few years now. Their strong points are superb design, constantly changing offering and good quality at a reasonable price. Not really rocket science just good leadership. Only disadvantages are long lead times and no trade discount! They could increase turnover if they offered a trade discount like their competitors. Definitely one for the future.

On second thoughts the amounts traded are much more than the divi paid and I don’t know if they were buys or sells. This seems to be a solid business with a 6% dividend and the SP seems to fluctuate within a 10% band so it is likely to hit 130 again in the near future. If only we knew about the high value trades !

£14 million+ so far today. Dividend reinvestment?

Despite BT senior management saying how wonderful BT is just check Consumer Review Sites, Facebook etc and see the service levels customers are experiencing. I always thought with so many customers there would always be dissent until I experienced it myself.Had 2 phone lines and I wanted to move broadband from one to the other and then cancel one of the lines. This took 10 weeks to achieve. 8 hours in total talking to over 20 BT advisors who all had a different way of achieving my request even after consulting their superiors. 8 advisors promised to call me back and didn’t. Average wait time to talk to them, 30 mins.Complaints closed by BT arbitrarily without resolution( presumably to show wonderful statistics).Tried to put me on full fibre broadband when we are 2 miles of copper overhead cable away from the nearest fibre box. Gave me a new phone number when I specifically told them I wanted to keep my old one. If you eventually get so upset you threaten hell and high water they refer you to their Resolutions Team in Dundee where Dawn sorted everything out in 24 hours and did ring me back and should be the CEO of BT.