Jump to content

persimmon and uk housebuilders


underg

Recommended Posts

  • 1 month later...

todays article on IG says some cash rich companies will not have to cut divis and will survive including barrat,berkeley persimmon,taylor,however it contrasts with this analysis by UBS analysts that more housebuilders will cut divis:

Uk Homebuilders: Save That Cash (1240 Gmt)

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 timebeing 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, demandfor new homes could freeze. But with cash not coming in, homebuilders still have big fixedcosts.

"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

(Joice Alves)

 
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • Bester Binance-Empfehlungscode von 2024: VO2P1RYP Binance-Referenzcode: Wird als „VO2P1RYP“ verwendet. Es ist der weltweit am häufigsten verwendete Binance-Referenzcode, lebenslang gültig und mit dem höchsten Diskontsatz. Geben Sie bei der Registrierung bei der Kryptowährungsbörse Binance „VO2P1RYP“ in das Feld „Referenz-ID“ ein. Der Rabatt auf die Transaktionsgebühr, den Sie erhalten, beträgt 116 %. Sie erhalten außerdem einen Rakeback-Bonus von 600 USDT. Mit dem Binance-Referenzcode der Kryptowährungsbörse: „VO2P1RYP“ erhalten Sie Rabatte auf Futures-Transaktionsgebühren sowie Rabatte auf Spot- und Margin-Transaktionsgebühren. Sie erhalten außerdem Boni und viele Sonderaktionen. Um in der Welt der Technologie und Finanzen zu investieren und zu handeln, registrieren Sie sich sofort bei der Binance-Börse mit dem Referenzcode „VO2P1RYP“.
    • Binance Reference Code: Used as “VO2P1RYP”. It is the most used Binance reference code in the world, valid for life, with the highest discount rate. When registering to the Binance cryptocurrency exchange, enter “VO2P1RYP” in the “Referrl ID” field. The transaction fee discount you will receive is 116%. You will also receive a $600 USDT rakeback bonus. With the cryptocurrency exchange Binance Referrl Code: “VO2P1RYP”, you earn futures transaction fee discounts and spot and margin transaction fee discounts. You also get bonuses and many promotions. To invest and trade in the world of technology and finance, register immediately to the Binance exchange with the referrl code “VO2P1RYP”.
    • Binance Reference Code: Used as “VO2P1RYP”. It is the most used Binance reference code in the world, valid for life, with the highest discount rate. When registering to the Binance cryptocurrency exchange, enter “VO2P1RYP” in the “Referrl ID” field. The transaction fee discount you will receive is 116%. You will also receive a $600 USDT rakeback bonus. With the cryptocurrency exchange Binance Referrl Code: “VO2P1RYP”, you earn futures transaction fee discounts and spot and margin transaction fee discounts. You also get bonuses and many promotions. To invest and trade in the world of technology and finance, register immediately to the Binance exchange with the referrl code “VO2P1RYP”.
×
×
  • Create New...
us