Member Info for russ1983

surprised we aren't rallying big time...

surely provident financial must be thinking get this on the cheap

Gap down..

one of the best updates I`ve seen recently and no movement in SP!

who else can say this in their update? "AA Plc Says Spread Of Covid – 19 Has Not Impacted Co Materially"

Sky news reporting dividend will be cancelled :-(. Pretty unfair for shareholders as this was a 2019 dividend. Assume RNS tomorrow

Dividend cancelled and home collections paused... just hope this is priced into current price otherwise will tank at open...

hi all, on the dividend. they can cancel even after ex dividend and even after approved. See the article this morning in the times:

Banks urged to scrap billion-pound payouts
https://www.thetimes.co.uk/article/banks-urged-to-scrap-billion-pound-payouts-jm526jhw7

yes it can still be cancelled

they can cancel the dividend, like crest nicolson did just before ex div...

Uk Homebuilders: Save That Cash
There's been quite a lot of dividend cancellations among UK homebuilders: Crest Nicholson , McCarthy and Stone to name a few. ...

"We think others in the sector will follow to suspend / postpone dividends for the time being to protect balance sheets in these uncertain circumstances," write UBS analysts.

"Focus will now shift to cash burn in an scenario where business grinds to a halt," it adds.

Highly intuitive the thought behind that: as more and more cities go into lockdowns, demand for new homes could freeze. But with cash not coming in, homebuilders still have big fixed costs.

"This is unprecedented because in 'normal' economic downturns homebuilders are highly cash generative," UBS writes.

As homebuilders enter the saving mode, which one has the most solid balance sheets?

Here is UBS' analysis of homebuilders in the UK:

Berkeley is at -31% net cash

Persimmon -4% net cash

Barratt 9% gearing

Bellway 16% gearing

Taylor Wimpey 17% gearing

McCarthy & Stone 17% gearing

Redrow 18% gearing

Vistry c40% pro-forma

Crest Nicholson 41% gearing

they are a subprime lender and we are facing the biggest recession in living memory...thats why
they will face higher deafults and people unable to pay but how bad will it be, noone knows so they just sell

Very disappointing div. Should have at least matched last years

This exactly what should boost plus though. volatility and huge movments for gold, currencies, dow, ftse etc on fears of coronavirus, should boost trading and plus 500`s bottom line

I don`t buy cards in Clintons for £3/£4 or in supermarkets for £2/£3 because card have them as low as 59p....

but they could lift 59p card to 69p and 99p cards to 1.09 and they`d still be ridiculously cheaper than anywhere else...

I've averaged down and think they are oversold but not expecting a recovery for a while...

Investors have lost all confidence but I think may have panicked too much. Like for like sales are only down 0.6%...they have a low cost vertically integrated supply chain but it feels like they cant stop costs rising. Might be best to stop opening a store a week and focus on the current stores and increase prices to improve profitability, probably trim dividend to invest more online and finding more ways to increase sales. Also Clinton's surely cant stay afloat much longer which would also help. Paperchase also looks vulnerable who sell expensive cards...

trying to think what the positives are and this didn`t help...

Advising investors to 'throw your cards in' and sell their Card Factory shares, analysts at Peel Hunt said: 'Card Factory's Christmas update is truly shocking… [sales have] collapsed in recent weeks, and management seems to have lost all confidence: forecasts are being decimated, the special will become a distant memory and the ordinary will also probably be cut.'

the only hope is imagine how bad Clintons did over Christmas....and they go to the wall completely and card mops up their remaining sales

buying only £10k isn't a sign of confidence karen...wtf

very odd, we popped 6% to £9 and lost 70p within an hour....

I`ve dropped more in and hopefully get a nice dividend increase in the results

Front page of business section in Sunday Times

"Card company Clintons warns that 2500 jobs are in peril"

Card ready to mop up the extra sales