Hints and tips:
...David Hollingworth, associate director at broker L&C Mortgages, notes that several lenders have increased their stress rates this month, and expects others to follow....
...Dude ranches In the Rockies west of Denver, the C Lazy U ranch has been welcoming visitors for a taste of cowboy life since the 1920s....
...Although 22 leases were signed in the first half with a rental value of £2.7m, the underlying l-f-l net rental income was down -22%, and along with adjustments for bad debts etc. this resulted in EPRA EPS...
...L-f-l rents down 27%: net rental income fell down to just £87.3m which represents a l-f-l fall of 27% (excluding premium outlets), as a result of covid and the reduced rent collection rate....
...“L&G offers a 6.3% 2020E dividend yield, 1.2% above the sector average. Pre-2016 L&G's yield averaged 0.4% above the sector.”...
...(iii) But the standouts were the tight operational controls with discretionary spend falling away – i.e. a c£5m travel spend falling to very little and less use of sub-contractors and of course salary sacrifice...
...Apart from negative l-f-l rental and value growth, we assume recapitalizations to an LTV of c.35% by 2021 lowering the EPS and NAV by c.49% and c.61%....
...We forecast an avg month-end net cash position in FY20 of c.£190m, (from £324m at FY19)....
...On our estimates, IMB had a 2019 net debt to EBITDA of 3.5x (ex Logista) and c.3.3x post the sale of premium cigars.We are Underweight IMB....
...more of a primary event), UK P&C (~14% of premium), and then the multilines (~10%)....
...This was not because lenders predicted a crash in house prices, says David Hollingworth, a director at broker L & C Mortgages, but because offices had been inundated with requests from existing customers...
...not impact sales for any of the publishers....
...What is the likely shape of the growth trajectory? V, U, or L?...
...The group has c.2.7x ND/EBITDA against a covenant of 4.25x....
...Operating performance: intu’s like-for-like net rental income declined 9.1% in 2019, in line with management’s November guidance of c. 9%....
...The winner-takes-all problem seems to go well beyond booth rental anyway....
...L&G would like to invest a lot more in such properties, which serve the dual purpose of reducing housing need and giving patient investors a steady yield....
...If the bet had gone wrong, Boeing would have gone the same way as the Glenn L Martin Company, one of the pioneers of jet aviation.”...
...The sketchiest of takeover rumours helped Speedy Hire , the tool rental group, advance 3.8 per cent to 34.3p....
...Lakeside log cabin, Lac Supérieur, Canada, C$1,100,000 (£684,200) Where: Minutes from the winter and summer activities of Mont Tremblant, a national park north of Montreal....
...The US also indicated that the Europeans could act as prime contractor to the Department of Defense which, for a contract of this magnitude, represents something of a breakthrough for EADS....
...Based on the information available to Moody’s, the rating agency has identified the following three EMEA CMBS transactions that rely to some extent on rental income from Borders UK: - Epic (Culzean) p.l.c...
...Less than 10 per cent of Cobham’s sales come from the UK so its headline earnings are likely to be boosted by sterling’s recent strength against the dollar....
...Trompe l’oeil, a local specialty, has faded to almost nothing on the façades of many buildings, with only the ghosts of fake balustrades, fountains and statues remaining....
...Growth at the aerospace business was held back by lower sales of F-16 fighter jets and fewer C-130J deliveries....
International Edition