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I bought in high and now 30k in the red, does anyone think this can bounce back this year. Starting to get worried at how low this can go now.
So, as expected, taking a hit like the others. The bit I most liked in this RNS was "We intend to seek recoveries from other entities involved in the development process who may have a responsibility to share the costs of remedial works..." so look out, BDEV is coming for you! I'd like to see a concerted effort by all the major HB's to bring to book all the agencies and organisations involved in this tragedy, problem being that HMG is the most culpable IMHO but no-one has been able to get an admission from them thus far.
Thanks for that you guys, I stand corrected but it looks like it may well be all done and dusted.
Another news article from 9 months ago ....
Barratt had already paid out £56million to fix fire safety and structural problems on its “legacy properties”, principally Citiscape, as Inside Croydon reported earlier this year. Barratt Developments say they have committed £163million to deal with other cladding issues
Barratt’s problem-building costs top £200m
09 FEB 2022 BY JOSHUA STEIN
Barratt has now put aside more than £200m to deal with problems on old building jobs, including the cost of remediating dangerous cladding. The housebuilder revealed in its half-year results to 31 December 2021 that it added £17.2m to its provisions to deal with dangerous…
Why? They have not been involved in property cladding as far as I know.
Other big developers settling with Gove, putting aside bigger reserves. Nothing yet from BDEV but surely only a matter of time now?
(Sharecast News) - Shares of London-listed housebuilders rallied on Monday following a report the government is dropping its demand for them to contribute towards a £4bn cladding remediation fund.
The government is embroiled in discussions with the Home Builders Federation (HBF) over a plan to remediate dangerous cladding on buildings of between 11 metres and 18 metres high. Housing secretary Michael Gove had set a deadline of Thursday 31 March for an agreement to be made.
Mas, see my comment below. Just under 6% currently but BDEV has committed to reduce the dividend cover from 2.5X to 1.75X over the next 2-3 years, which should increase the yield. I'm slowly moving some TW to here, I'd rather have the extra dividend payment than a share buyback.
is this yielding around 6% now at 5.07? seems quite tempting for my income portfolio
The inflation and interest raise is hitting the sector
JP Morgan has dropped their target sp from 870 to 710 (see above). They've lowered their target on several builders this morning, hence the sector is down (not just BDEV). Yield close to 6% now based on previous dividends, of course they're also committed to reducing the amount of dividend cover so potentially increasing pay-outs if business continues to flourish.
Jim888.
Subliminal sentiment, perhaps. Coming from the region of the gut.
Puffing weather here where I am. So the outboard is in on-and-off use atm. With the share price down and the oil price rising... a little tranquil storm would not go amiss - yes, I know it's a paradoxical oxymoron... but I'm in that sort of mood. Ah - good! Index finger almost bent back... Captain and crew running on to the deck (with cards still in hand) in fine excitement! Sails fluttering madly as they rise...
Nipping down below to release the handbrake or what-ever it's called - or maybe I should seek the Captain's advise first - after all, 's what I pay him for...
Any ideas on why the jump today?
Is it as simple as absolutely no exposure to Russia or Europe?
Does anyone have any insight into the weak performance of BDEV's share price relative to PSN and TW?
https://www.housingtoday.co.uk/news/gove-unveils-plans-to-give-legal-force-to-4bn-cladding-threats/5116064.article
So if you make an illegal proposal you change the law to make it legal..
C'mon Ringworm, a bit of cardboard and paper blowing around in a mini storm is not 'Pollution'? I put carboard and paper in my compost bin. It breaks down eventually and adds nutrients. Just some greedy, misinformed jocks out to fleece Mr Barratt.
(My people come from 'Jockland'. And I've got a 'Jock' name - so don't come after me for spoils, buddy! Or I'll get me Glass gee cousins onta ye. Lol )
Thanks Taverham. I keep a watch on RDW, BWY and a few other housebuilders but will have another look at RDW for sure.
Krusty, welcome . Imv all housebuilders are solid investments atm because they are generating lots of cash and because we are living in an overpopulated small island where deman outstrips supply houses will always be required meaning profitable work for the foreseeable future. I am invested here, in TW and RDW. The latter looks to me the better 'value' just now because they look like yielding around 5% this year and there is often talk of a buy out by the founder , giving further upside were it to happen. Anyway good luck and as always dyor.
Hi all, new to BDEV after 14 years holding TW, will gradually sell down half my holding there and move here. I need a steady income in retirement and see this as a better bet than TW now going forward, since they announced their intention to start buying shares back rather than pay a special dividend. By contrast, BDEV are sensibly (in my view) gradually reducing the dividend cover from 2.5X to 1.75X over the next 2-3 years, which should underpin increased yields. Let's see. GLA. K
Barratt are to face class action over pollution from their sites allowing building materials to blow into countryside causin massive pollution incidents in Scotland.
Communities in Scotland are rallying to start a class action against Barratt for allowing unsecured building materials to blow freely causing widespread pollution. see https://www.facebook.com/100001077832114/videos/268783508716142/
Schwee...
And we're all waiting on Mr Gove, I suspect, to see how he fares in trying to morph into Tony Soprano in his attempt to shake down the entire sector...?
Strictly
The logic was and still is the legacy issues, which the interims fudged. Whether that is the right tactic or not, time will tell.
There was no logic in the fall of sp from 800p to 600p!! Back to 800p we go IMO.