A director at Archicom S.A. sold 7,797 shares at 35.000PLN and the significance rating of the trade was 55/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly sh...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
The number of units delivered was in line with our FY19 expectations, while the number of pre-sales was 21% above our estimates (582 units in 4Q19, +86% y/y on improved dwellings offer). Our 4Q19 forecast implies FY19 revenues of PLN 814m and EBIT ex. revaluations of PLN 262m and net profit ex. revaluations of ca. PLN 193m (broadly in line with our previous expectations). As a reminder, our in our forecasts we assume a 75% pay-out ratio of adjusted consolidated net profit with additional payment...
The analysed residential developers reported cumulative delivery of 2,245 units in 4Q19 (-32% y/y) and 9,326 units in FY19 (-12% y/y). Based on our estimates, we expect cumulative gross profitability to improve by 1.4pp y/y, while cumulative net profit to decline by 10% y/y in FY19 (mainly on lower y/y deliveries in Atal).
In 4Q19, twelve WSE-listed residential developers reported improvement of pre-sales by 12% y/y to over 4,600 units. Six of analysed developers reported improvement y/y of pre-sales with the highest growth rate reported by Develia (+86% y/y to 582 units) and the highest volume reported by Dom Development (962 units; -4% y/y).
• Short term: positive attitude. Shares ↑, EM>DM, WIG20WIG20 • WIG20: S-T +10%; L-T WIG20 • Our thesis is that the market is currently in an ‘unreasonably cheap’ phase and we are only just ahead of a phase of doubt, especially in the segment of small companies. • The economic cycle is already behind its peak phase. • The upcoming slowdown will be a classic recession rather than a crisis. • Poland: slowdown in growth, especially in 2H19; strong consumption maintained (although s...
Currently, the housing market experiences the demand from the baby-boomer generation of people aged 35 at present, which was hindered in 2009–2014 period (amid low rates and wage increases). At the same time, the consumer demand is strongly supported by the investment demand (ca. 40% of the market). We still believe that the market scale will drop by 30–40%, although we thought that it would happen earlier (we did not foresee the investment demand scale). We are looking at the market from th...
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.