Shares in this UK house builder have been all over the place, just like others in the sector. They have traded in a range between 737p at the peak in January 2007 and a low of 89p. The latest price is 213.75p. There are a number of reasons why I think the shares are worth buying.
Top of the list is the fact that they have just reported a pre tax loss of £193.9m. Why does that make them a buy? Share prices discount the future not the past and investors love an improving trend. A loss of £194m is an easy figure to beat. This applies to any share. Look back in five years time and you can bet that the time when a company reports a record less will have proved a good moment to buy the shares.
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