malj1
06 Nov 2019
Re: IMS OMG this is awful. Complete implosion. Sell, sell, sell … Ha ha. Just kidding. Yet another steady as she goes IMS. The core business performs soundly/stably with a reasonable uplift in orders. The much heralded collapse is the dog that didn’t bark in the night. This performance is despite the brexit media panic etc. The interesting part is the performance including the London/PRS/Colindale delivery = gangbusters. Yes the performance is lumpy, but London/PRS always is – tell me something I don’t know. RED are puking cash. What will they do with it? Well they could either hoard it going ungeared until brexit clears, or they could escalate the dy, or they could consolidate the sd, or they could cherrypick l/b purchases adding to their already almost decade cover. Yes awful isn’t it?! How come all those doomster predictions have all been relentlessly wrong? Could it be they haven’t a clue? Surely not!
marktime1231
06 Feb 2019
So housebuilders, then So despite gloomy housing markets with softer prices especially in London, input price inflation headwinds (according to CRST anyway), BREXIT etc, and apprently we don’t have the skilled resources to build the increased number of houses we need … blah blah blah BDEV even better than expected and confident enough to be heralding another 175p special in 2 years time … er so why call it a special then. Volumes up, margins up to 23% (a bit greedy?), costs down. sp buzzing on p/e 8. RDW awash with cash an about to spew an immediate 30p special dividend on volumes up and sustained margins of around 19%. sp unmoved on p/e 7. Does this prove a couple of things … none of us really knows what is going on, and that you can’t tell which way builders are going - not on outlook nor even when the results are inked in! Builders telling the country how difficult it is to build houses when they are larding it. Like farmers never ever seem to have a good year. But they all have Range Rovers in the drive.
malj1
07 Feb 2018
Re: h yr So much for Mr Mkt. Whichever way you cut these no.s, this is a storming performance!
Greyinvestor
15 Sep 2017
First purchase Chunky first purchase for me today @ £5.52.......Chairman still a big holder.....a good seasonal buying opportunity in my view, will another institutional holder pop up? Woody?
Blackbrit
15 Sep 2017
Re: Well, that's just silly... ...thanks for that, pretty informative..
malj1
14 Sep 2017
Re: Well, that's just silly... V short memories here.Post the CC all builders ran emergency rights/placings to refinance, buy land & get out from under the cosh of bank debt/interest. Having comprehensively banjaxed the builders by cutting mortgage supply to customers, the banks gave 'emergency support' to the builders - whose l/b debt costs were eating them alive - at 20% pa: that's know as usury. Hence the refinancing etc. Now the builders & banks have a lovey-dovey-sweetiepie marvellous relationship; couldn't be better doncha kno. How much do the builders now borrow from the banks? Answer = nil. Most have massive cash balances, Curious that!The preceding mgmt. at RED pretty much had steered the co full speed ahead Concordia like onto the rocks. It came within an ace of sinking. Hence the return of SM. So RED ran an emergency placing, but was the last quoted builder to go. Effectively the placing failed. But it had been underwritten personally by SM - which if memory serves me right cost him +£100m (plus he reversed his own private l/b into RED).So all he's arguably done now is pull out the funding/share % he put into RED to refloat & save it, returning his holding roughly to the pre CC status quo. Not really a cause for concern in my book.
Blackbrit
13 Sep 2017
Re: Well, that's just silly... ..thanks for responding: I still think the drop was overdone, but what do I know..
Investor KT
13 Sep 2017
Re: Well, that's just silly... He sold so many shares (7% of the issued shares) that a placing was done, at a big discount - the placing price was 590p! Usually the price drops to the placing price in my experience.
Blackbrit
12 Sep 2017
Well, that's just silly... ....sales by directors can sometimes be seen as a warning, but in this case given RDW's recent results, I hardly think Steve Morgan reducing his stake (as he reduces his role in the company) merits an 8% fall in the share price....still, it's allowed me to buy a few.....
II Editor
05 Sep 2017
NEW ARTICLE: Record-breaking Redrow chased to fresh 10-year high "Demand for new housing in the UK remains "robust" despite an uncertain political and economic backdrop. That's the view of execs at LSE:RDW:Redrow as the company - and the wider sector - continues to make a mockery of warnings that the housing ..."[link]
Otter2
28 Mar 2017
Bovis walk away Another great call, Steve........
Hydrogen Economy
15 Sep 2016
Buy Back and Share Options Announcement partially copied below. Buy-backs are not unusual although not not all shareholders preferred option. The fact that the buyback will take Steve Morgan above 40% threshold and a waiver is being requested seems rather odd. The announcement at the same time as notification of 10 PDMRs receiving substantial number of nil cost options at 4.0097 (60-150k shares) when the SP sits at 3.9 looks a bit generous and seems like poor judgement on several counts. Redrow has performed well of late (although almost all builders have), the Board deserve to be rewarded appropriately, maybe this is appropriate but it should be seen to be so. Not sure these announcements fit that test. H2Proposed Resolution to Purchase Own Shares and Rule 9 WaiverIn accordance with Listing Rule 12.4.4, Redrow plc (the "Company"
announces that the Board has decided to propose a resolution seeking general authorisation to make market purchases of up to 36,979,993 ordinary shares of the Company (representing 10 per cent. of the Company's issued share capital) subject to the requirements of the Listing Rules of the UK Listing Authority (the "Buy Back Resolution" at the Company's forthcoming annual general meeting (the "2016 AGM".As a result of recent fluctuations in the Company's share price, the Board considers that it is appropriate for the Company to be in a position to buy back shares in the coming year if it would be in the best economic interests of the Company to do so. Accordingly, the Directors intend to propose the Buy Back Resolution at the 2016 AGM. It is the Directors' current intention to request authorisation annually going forward.Since Steve Morgan has an interest in approximately 40.40 per cent. of the Company's issued share capital, any purchase of ordinary shares of the Company pursuant to the authority granted by the Buy Back Resolution would result in an obligation for Mr Morgan to make a general offer in accordance with Rule 9 of the City Code on Takeovers and Mergers (the "Code". Therefore, the Board has also decided to ask independent shareholders to approve at the 2016 AGM a waiver by the Panel on Takeovers and Mergers (the "Waiver" of any such obligation following any increase in the shareholding of Mr Morgan or any person with whom Mr Morgan is acting in concert (as defined in the Code) up to a maximum of approximately 44.88 per cent. of the Company's share capital as a result of any exercise of the authority granted under the Buy Back Resolution (the "Waiver Resolution".
II Editor
06 Sep 2016
NEW ARTICLE: No fear for record breaking Redrow " Fearless contrarians buying into the post-Brexit fallout have already made a fortune out of Britain's decision to leave the EU. Take LSE:RDW:Redrow: the housebuilder has maintained its strong trading momentum since the referendum as the ..."[link]
MoleMan99
06 Sep 2016
Results Always like to look at how a balance sheet is changing compared to profit/loss. Earnings pwer here is more like £400m a year. £10 a share stuff.Won't get there as the market holds back on Redrow for some reason, but of course we are here as Redrow is small enough to be bought, and Steve Morgan is going to want out eventually. He won't just retire like last time and watch someone else make a mess of things.
II Editor
02 Sep 2016
NEW ARTICLE: The week ahead: Redrow, Sports Direct, Curtis Banks "Monday 5 SeptemberTrading StatementMD Medical Group Investments, Faron Pharmaceuticals, Hunting, Flowgroup, Randall & Quilter Investment Holdings, Plus500, Union Jack Oil, Vipera, Dechra Pharmaceuticals, 1pmAGM/EGMBetter Capital, Marwyn Value ..."[link]
