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    CSP   GB00BYPHNG03

COUNTRYSIDE PARTNERSHIPS PLC

(CSP)
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Delayed London Stock Exchange  -  11:35 2022-08-12 am EDT
287.60 GBX   -0.62%
08/12Norges Bank - Form 8.3 - Countryside Partnerships plc
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08/11Norges Bank - Form 8.3 - Countryside Partnerships plc
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FTSE 100 tracks upbeat global mood, Countryside soars after takeover approach

05/30/2022 | 04:59am EDT
FILE PHOTO: Pedestrians leave and enter the London Stock Exchange in London

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

* Countryside tops midcap index

* FTSE 100 touches highest since April 22

* Ted Baker climbs on takeover report

* FTSE 100 up 0.2%, FTSE 250 adds 0.8%

May 30 (Reuters) - Britain's FTSE 100 edged higher on Monday, as an easing of China's COVID-19 curbs lifted spirits across global markets, while Countryside soared after its shareholder made a second approach to buy the homebuilder.

After rising to its highest level since April 22, the blue-chip FTSE 100 gave away some gains to end 0.2% higher, while the domestically focused FTSE 250 rose 0.8%.

Asian and European stocks gained on news that Shanghai authorities will cancel many conditions for businesses to resume work from Wednesday, easing a city-wide lockdown that began two months ago.

"It has been mostly a subdued day of trade for the UK markets; while the start was good, the benchmark index could not manage to keep the momentum going," said Kunal Sawhney, chief executive at research firm Kalkine.

"There has been a concern across the global markets about the economic growth that weighs down the investors' sentiments."

Wall Street closed sharply higher on Friday ahead of Monday's Memorial Day holiday as signs of peaking inflation and consumer resiliency led to optimism that the Fed will be able to tighten monetary policy without tipping the economy into recession.

Gains were broad-based in UK stocks, with spirits maker Diageo, consumer giant Unilever, and miner Anglo American providing the biggest boost to the FTSE 100.

Countryside Partnerships surged 18.6% after Inclusive Capital, which owns about 9.2% of Countryside, said was looking to engage with the homebuilder for a possible takeover offer valuing it at about 1.47 billion pounds ($1.86 billion).

The wider housing index climbed 2.1%.

"The bid is testament to the appeal of the UK housebuilding sector which, regardless of the economic backdrop, should benefit in the long term from supportive supply and demand dynamics," added Russ Mould, investment director at AJ Bell.

Ted Baker rose 4.6% after a report said that Juicy Couture owner Authentic Brands is the British fashion chain's preferred bidder and that the two firms could agree on a 300 million pound ($379.35 million) deal.

Martin Sorrell's digital advertising group S4 Capital gained 4.3% as it reiterated its full-year outlook, saying it expected robust demand despite forecasts of slowing global economic growth. (Reporting by Sruthi Shankar and Amal S in Bengaluru; editing by Uttaresh.V and Tomasz Janowski)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.00% 0.7121 Delayed Quote.-2.20%
BRITISH POUND / US DOLLAR (GBP/USD) 0.00% 1.213 Delayed Quote.-9.87%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.09% 0.7823 Delayed Quote.-1.00%
COUNTRYSIDE PARTNERSHIPS PLC -0.62% 287.6 Delayed Quote.-36.09%
DIAGEO PLC 0.03% 3833.5 Delayed Quote.-5.02%
EURO / US DOLLAR (EUR/USD) -0.60% 1.0258 Delayed Quote.-9.78%
FTSE 100 0.47% 7500.89 Delayed Quote.1.58%
FTSE MID 250 INDEX 0.46% 20338.96 Delayed Quote.-13.38%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.05% 0.01256 Delayed Quote.-6.43%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.02% 0.6453 Delayed Quote.-5.90%
S4 CAPITAL PLC 8.50% 159.5 Delayed Quote.-74.84%
TED BAKER PLC 2.66% 88.9 Delayed Quote.-13.77%
UNILEVER PLC -0.40% 3905.5 Delayed Quote.-1.01%
All news about COUNTRYSIDE PARTNERSHIPS PLC
08/12Norges Bank - Form 8.3 - Countryside Partnerships plc
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08/11Norges Bank - Form 8.3 - Countryside Partnerships plc
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08/10Norges Bank - Form 8.3 - Countryside Partnerships plc
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08/09Norges Bank - Form 8.3 - Countryside Partnerships plc
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08/08Norges Bank - Form 8.3 - Countryside Partnerships plc
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07/21COUNTRYSIDE PARTNERSHIPS : Planning approved for 685 new homes on former golf course in Li..
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07/19DIMENSIONAL FUND ADVISORS LTD. : Form 8.3 - COUNTRYSIDE PARTNERSHIPS PLC - Ordinary Shares
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07/18COUNTRYSIDE PARTNERSHIPS : secures reserved matters approval for 260 new homes at Strawber..
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Financials
Sales 2022 1 619 M 1 963 M 1 963 M
Net income 2022 -73,4 M -89,0 M -89,0 M
Net cash 2022 7,87 M 9,54 M 9,54 M
P/E ratio 2022 -18,6x
Yield 2022 -
Capitalization 1 436 M 1 741 M 1 741 M
EV / Sales 2022 0,88x
EV / Sales 2023 0,82x
Nbr of Employees 2 045
Free-Float 93,3%
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Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 287,60 GBX
Average target price 309,80 GBX
Spread / Average Target 7,72%
EPS Revisions
Managers and Directors
Michael Woolliscroft Co-Chief Executive Officer
Philip Andrew Chapman Co-Chief Executive Officer
Timothy Charles Lawlor Chief Financial Officer
Douglas Malcolm Hurt Non-Executive Chairman
Phillip Victor Lyons Chief Executive Officer-Operations
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