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Countrywide plc (lon:cwd)
Countrywide – So Much Money Spent And So Little Value!
Countrywide plc Financials
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Commentary History
Date
Title
Show All
Mon 13 Jul 2020
Countrywide – Recovering Share Price Or Recovering Business
Mon 06 Jan 2020
Countrywide – Broke A Golden Rule Of Mine
Sat 01 Jun 2019
Countrywide - Market CapitalisationDown To About £67 Million
Thu 18 Apr 2019
Countrywide – So Much Money Spent And So Little Value!
Countrywide plc Share Price
Grade:
The Black Grade - Shares That I Think Could Collapse To Nothing Or Suffer A Massive Share Issue.
Title:
Countrywide – So Much Money Spent And So Little Value!
Company:
CWD - Countrywide plc
Share Price Then:
7.2p
Author:
Ian Smith
Date:
Thu 18 Apr 2019
Comments:
Countrywide Estate Agents recently, August 2018, raised around £130 million in a share issue yet today its market capitalization is at £117 million. Post the share issue the prices settled at around 12p for a while and today was at 7.21p
The February trading update had 2018 everything a bit down 5%-10% across various business sectors Sales and Lettings Income for the full year was £329 million, B2B Income in was £213 million and Financial Services income was £84 million.
Down on last year is never good but these numbers are not a total meltdown.
The preliminary results in March showed a loss of £218 million but this included £245 million of principally non-cash exceptional charges for goodwill, intangible and other asset impairments.
I have looked at internet competitors and although listing on internet sites is probably mandatory from now on comments seem to be that once a decision to buy or sell has been made the quality of the people involved matters greatly.
This shouldn’t be surprising as most people buy/sell very few houses in their lifetime and a business model based on a hard sell to get a listing fee regardless of whether or not the property sells is probably not going to offer this.
So although I think that the share price is low the company has stated a medium term no dividend policy which may be having an impact on the share price and I can’t see a short term motivator for a share price rise.
Read Count/ID:
220/7053
Buy/No Buy In A Nutshell
Negatives
Too much debt and they have already done a share issue to fix that, did a 50 for 1 share consolidation to bring the shares out the penny arena
Positives
Maybe Purple Bricks or another on line only business might see the business as a quick way to establish an office presence in many towns under another name.
Initial Review Price
109p
Last Review Price
109p
Last Review Date
15-Jul-2020
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