to the sp today, mostly a kick up from the as-expected good results from those bad boys PSN. I am not a chartist but it also felt this morning like there was a breakthrough in the CRST share price, something had been holding it back even though we are approaching a splendid dividend.
I am with Woodford (even he must get one right eventually) on CRST and have high hopes that this will recover its sp, while paying out a top drawer dividend in the meantime. For some reason a builder only delivering 18% margin in a quiet market has been marked down … ok, so CRST looked ordinary compared to those companies fleecing HTB and those who gorged on overseas cashbuyers in London, but if it is a sustainable business then a p/e of 6 is ridiculous.
So, could it be sustainable, building volumes are holding up despite all the gloom? The question then is whether this problem of cost control at CRST has been over-stated and whether new management is producing better fundamentals.
Actually if fundamentals do get turned around then this is a 500p share, but there are as many against as for.