UK Housebuilding Sector in 4Q 2019

Hardman & Co

20/20 vision

For fighter pilots, it is a minimum requirement.

But having 20/20 ‘visual acuity’ (correct term) does not necessarily mean you have perfect vision (as convention assumes); instead, it indicates sharpness and clarity of vision at a distance.

It is measured by a Snellen Chart, which displays letters of progressively smaller size and whereby 20/20 means that the test subject sees the same line of letters at 20 feet that a person with normal vision sees at 20 feet (or 6 metres; but 6/6 simply didn’t catch on).20/20 and similar (e.g. 20/200 is legal blindness) are called Snellen fractions, named after Herman Snellen, the Dutch ophthalmologist who developed the measurement system in the mid-19th century.

In turn, 20/15 is even better than 20/20; the former, perhaps, having the benefit of hindsight…

In 20/19, a sharp-eyed UK Housebuilding Sector saw a 42% rise in value acuity; and generated a weighted and bright-eyed TSR or Total Shareholder Return of 56%.

There were blurred lines of Brexit letters along the way but, in 4Q (+18%), the bifocals were discarded – and the quarter included the sector’s best ever daily rise in value, its best ever week and a new all-time high (on 16 December).

No, 2020 will not yield perfect vision and there will be HOAs or ‘higher-order aberrations’; however, there will also be clarity, scale and distance for the industry this year.

Good eyesight is not taken for granted but it will prevail.

P.S. Hardman & Co operates a side-line in industrial goggles and lorgnettes.DOWNLOAD THE FULL REPORT

Share on:

Latest Company News

Corero lands new Tier-1 wins as Edison sees growth accelerating – Edison

Edison says two fresh customer wins at Corero Network Security support its case that partner-led sales and newer products are broadening the.

Strix cash surge and Consumer Goods momentum put the spotlight on the next strategic update – Zeus Capital

Zeus Capital says Strix’s FY26 results were broadly in line, but the standout was a sharp improvement in cash, a stronger Consumer.

Hercules launches dedicated Power & Energy Services division to target UK infrastructure investment

Hercules has created a standalone Power & Energy Services division and appointed Marcus White to lead growth across UK electricity infrastructure programmes.

Sintana Energy positioned for Namibian exploration upside, says Zeus Capital

Zeus Capital has highlighted Sintana Energy’s exposure to Namibia’s emerging offshore oil and gas story, noting that the company remains focused on exploration-led value creation. The broker sees the portfolio as offering material optionality, while acknowledging the early-stage nature of the opportunity.

Nativo Resources Plc advances Peru strategy and funding position, says research note from the broker

A latest research note on Nativo Resources Plc highlights progress across its Peruvian portfolio, a strengthened funding position and a clearer route towards near-term operational milestones.

Likewise latest research note from Zeus Capital highlights progress and growth potential

Zeus Capital’s latest research note on Likewise points to continued operational progress, with the broker maintaining a positive view on the group’s prospects in the UK flooring market.

    Search