$CSP will focus on Partnerships business and sell/complete other land and development business. This strategy will generate GBP 450m surplus cash by 2023 which will be used for buybacks. Also the company will be renamed to Countryside Partnerships #buy#Bullish
$CSP Browning West, LP, the 3d largest shareholder in Countryside Properties PLC with a 9.4% stake issued a public proposal to separate Partnerships and Housebuilding segments. Read their 60 pages presentation about value creation in UK Housing market and CSP's potential #buy
This week Countryside Properties $CSP (#bullish) reported strong update with total forward order book up 17% and stable ASP. This dynamic contrasts Springfield Properties $SPR which earlier (September 29) reported -24.3% revenue decline for FY2020.
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David Lyons 15 Oct 2020, 11:48
$CSP Positive trading update #bullish Total completions of 4,053 homes (2019: 5,733 homes)
• Private ASP of £364,000 (2019: £367,000)
• Net reservation rate of 0.78, in line with our target range (2019: 0.84)
• Average open sales outlets at 63 (2019: 56)
• Total forward order book up 17% at £1.4bn (2019: £1.2bn)
• Net cash of £98.2m (2019: £73.4m)
• Successful placing of £250m in July
• Two new Partnerships Framework Agreements signed
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Robert Sheridan 08 Sep 2020, 17:22
$BDEV$CSP$PSN$TW. The CMA is launching enforcement action involving 4 leading housing developers it believes may have broken consumer protection law in relation to leasehold homes. #bearish
Countryside Properties PLC offers property development services. The Company constructs houses, commercial, office, industrial, retail, and recreational facilities. Countryside Properties serves customers in the United Kingdom.
