Member Info for Crossley

Morning mainstreet,

Yes they have. What makes it more significant, is they’ve reduced from Vistry. It appears they have rotated to here..

Thanks for the response Ben. Best of luck to you mate and hope things pick up with private homes sooner rather than later. Spent half of my working life at Hucknall @ Rolls. That too is long gone, at least as a RR. Ironically, most of the original site has now been built on, as I’m sure you know.

That is sad, your second post Ben. Take care bud..

Evening Ben, hope all is well with you bud.

Whereabouts in the east mids is that mate? I’m that way

Afternoon Baron,

A wise move imho. This will recover sooner than BTRW. Whenever that might be. PSN holds the all the cards and the geographical footprint..

GS,

If you want a more up to date outlook on how things are, asking, selling prices, pretty much everything, try this. It’s weekly (if your unaware) and you only need watch the first half (until it goes to the weekly regional)..

https://youtu.be/fTJkzbvSWDM?si=_hO8hl-RC2zNdchN

Just looks and sounds a bit lonely to me.

Ain’t the first and won’t be the last to fall on good to great results. But, the fundamentals are what they are..

“With high performance comes high expectations, and NatWest has slipped today in terms of outlook rather than delivery. The slightly bearish reaction to the numbers reflects the disappointment, although in context it does little to derail the group’s onward march. The shares have risen by 22% over the last year, as has the wider FTSE 100, and by 90% over the last two years. The current dividend yield of 5.6% is another strong attraction amid the group’s generous shareholder returns programme and the market consensus of the shares as a buy is likely to stay in place, with NatWest continuing to push Barclays to become the preferred play in the sector.”

Inge, what’s not so good as hoped for. Which particular metric? Here is your time to shine

Sparks, it’s up 12% but more crucially 5.7% ahead of consensus

Smashed it. The only thing that can possibly drag this is the forward looking sentiment. By far the best update to date..

https://www.londonstockexchange.com/news-article/PSN/agm-trading-statement/17570429

Nibble at a few just before close to begin my re entry here, to join my BWY holding. Got to start somewhere. Let’s see what the morning brings. Best of luck holders. Back around 7:10am..

Shami,

Average daily net debt is all that matters. Not the debt on one particular day (31/12). That’s the figure that the interest is paid on (average daily). £52m last year. As you say, expected to rise, but VTY have stated that will happen. It’s known.

Crst has been sh**e for a long time and couldn’t make money when times were better. They have no money and need funds. They’ve had more profit warnings, over a longer time period than even Vistry.

Wimps are struggling due to their concentration in the SE where land values are slipping and incentives to flog those homes have risen above 6%. Those homes are over £450k and make up 45% of TW’s revenue. They’re also going to run out of net cash by H1 or very close to it (0-50m).

Persimmon reporting tomorrow, I’m expecting better from them..

But this is a profitable company with cash reserves.

From yesterday’s Q&A…

Chris Carney 
Group Finance Director & Executive Director:

On cash, the business remains in a strong balance sheet position. We guided to net cash at the half year to be in a range of GBP 0 to GBP 50 million. We are fully sold for the first half. So assuming those sales rates convert to completions in the usual manner, I'd expect to be towards the top end of that range. Probably a bit less land spend, lower land sales receipt than anticipated, but those offset to some extent..

Quick, step back..

https://www.cityam.com/treasury-rules-out-rent-freeze-after-backlash-over-reckless-rumours/

Morning,

Looks to be pretty much as expected. Forward order book value down 4.5% and numbers down 5.6%. Which should equate to around that £400m profit mark if sustained. For me, this is the thing that TW investors should note..

"Overall pricing in the order book is c.1% lower year on year, with prices most impacted where affordability is more stretched in the South of England, and where we have made proactive choices to recycle capital as we phase out of our Greater London apartment schemes."

With around 33% of units and 45% of revenue coming from down there, it's a heavy reliant part of the business for Wimps. Last years average selling prices were inflated from business in the South. Hopefully, this will get brought up at the AGM?

As for the share price reaction, who knows, up, down or sideways? Take your pick. Best of luck all

Cheers HD,

This year, and I’ve been at this sector for a good few years now, I’m personally looking into regional performances. With Wimps tomorrow, my main interest will be into any clues between the SE and London segment against their Scotland and Northern business. The former being the one that could stumble figures this year. I think personally, this could be key into this years best performers in this sector. Let’s see what we get tomorrow and towards the end of the week (PSN & GLEG). Looks like interest rates are cast iron to remain unchanged with the vote coming in either 8-1 or 9-0 in favour of remain, with only, potentially, Huw Pill in favour of a raise on Thursday. Best of luck to all TW holders for the morning

Morning Davey,

Firstly, best of luck for the morning with TW kicking us off with a string of updates.

May I ask how you’ve arrived at that £1.60 fair value please? That’s quite a figure! I for one shall be looking as deep as Jen and TW allow me tomorrow..

I don’t believe all shares have been cancelled. There’s this… All 581,630 shares (the 413,555 net increase in treasury plus the ~168,000 handed out to employees) were funded through the £130 million buyback programme

Whoops…earnings outlook” for NatWest and HSBC, both rated “buy”, alongside Lloyds, while Barclays and Standard Chartered are rated “neutral.”

..and HSBC, both rated “buy”, alongside Lloyds, while Barclays and Standard Chartered are rated “neutral.”

Citi said it remains “constructive on UK domestic banks,” pointing to some of the highest net interest income growth in Europe this year, even as the first quarter of 2026 is expected to be more challenging.

Banks are expected to report a quarter-on-quarter decline in net interest income in the first quarter of 2026, reflecting a lower day count and continued mortgage margin compression.

Barclays is seen posting a 2% decline, while Lloyds is expected to fall 1%. NatWest’s net interest income is forecast to be broadly flat over the period.

Growth is projected to resume from 2Q26 as these pressures ease, supported by loan and deposit volumes and structural hedge roll-off. For full-year 2026, Citi forecasts NII growth of 7% at Barclays, 8% at Lloyds and 13% at NatWest.

Citi said trends among internationally focused UK banks are “set to be mixed,” with lower HIBOR weighing on net interest income while non-NII growth, particularly from wealth, remains strong. The Middle East accounts for around 2-3% of loans and deposits and about 6-8% of profit before tax, with a “modest increase in provisions” expected.

Ahead of first-quarter results due between April 28 and May 5, Citigroup said it expects adjusted profit before tax at NatWest to come in 7% above consensus, with Barclays and HSBC seen 6% and 3% higher, respectively.

The brokerage said its estimates are broadly in line with consensus for Standard Chartered, while it is 3% below consensus on Lloyds Banking Group, citing slightly lower net interest income.

At Barclays, Citigroup forecasts first-quarter adjusted profit before tax of £3 billion, around 6% above consensus, driven by a 1% revenue beat and impairments about 7% lower than market expectations.

For HSBC, the broker expects underlying profit before tax of $10.3 billion, up 19% quarter-on-quarter and 5% year-on-year, on revenue of $18.8 billion, with impairments seen roughly 18% below consensus.

Lloyds Banking Group is expected to report first-quarter adjusted profit before tax of £1.9 billion, around 3% below consensus, while NatWest is seen at £2.1 billion, about 7% above expectations, supported by roughly 16% lower provisions.

Standard Chartered is forecast to post profit before tax of $2.2 billion, broadly in line with consensus, with revenue up about 14% quarter-on-quarter.

Citigroup said domestic banking trends point to slowing mortgage growth, currently around 3.5% and expected to ease towards 2%, while corporate lending is expanding about 8.2% year-on-year and credit card balances are growing roughly 8.5%.

Deposit growth is running at around 3.5% year-on-year, with asset quality “robust” and delinquencies below long-run averages.

Mortgage margin pressure is expected to be concentrated in the first quarter, with spreads previously around 48 to 62 basis points, while deposit spreads continue to decline as interest rates fall, the bank said.

Citigroup added it remains “most constructive on the medium-term earnings outlook”