Tag Archives: cksn

Bovis Homes BVH is in demand by predators if not by investors, with bids over the weekend being announced from Redrow RDW and Galliford Try GFRD, neither of whom knew that the other was interested. Bovis, no doubt delighted that it has found an escape route from its management problems, decided that the bride price was too low and both offers were rejected. Redrow was informed that  that its proposal did not merit further consideration.

Any housebuilder which has managed to do badly during the current boom conditions is not really fit for purpose and Bovis should be delighted that it is suddenly in such demand. Housebuilders are so flush with cash that they do not know what to do with it and presumably this is an alternative to keep giving it back to the shareholders. Obviously neither bidder felt that it should be reducing, rather than increasing its exposure to the collapsing central London market but that is house builders for you. Discussions with Galliford Try are continuing and Redrow believes that Bovis is a compelling opportunity.  Let battle begin.

Computacenter CCC admits that results for 2016 were mixed which is a bit of an understatement with statutory profit before tax falling by 31.3% and diluted  earnings per share by 36.3%. The only thing that was mixed appears to be that the UK part of the business did badly with a material decline in profitablity, after a 1.1% revenue decline,  despite a strong second half, whilst Germany leapt ahead with a 15.4% rise in profitability and France edged upwards with a rise of 4.5%. The dividend is to be increased by 3.7%.

Clarkson CKN produced a strong 2016 performance despite challenging markets and the final dividend is to be increased by 5%. Underlying profit before tax and earnings per share both fell for t he year to the end of December but reported profit before tax rose by some 50% from £31.8m to £47.3m. The company also sees the beginnings of what it calls “recalibration” in the shipping and offshore markets and is looking forward to the opportunities which it sees in 2017

Villas & Houses For Sale in Greece; http://www.hiddengreece