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The Three Little Pigs

Why Was 4.75% Crash Cruising Speed. And Not Now?

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Long time no post for the pigs.

Chairmans Statement The Three Little Pigs PLC

Shareholders - this year we have been busy. We released a tiny percentage of our land bank a year ago - the day the interest rate came down from 4.75% to 4.5%. Surprisingly it doesn't seem to have been the last moment to shift the stuff.

Our Lithuanian buiilders complemented an illiterate but degree-educated sales force to record impressive sales figures for TTLP PLC. But here, I must warn shareholders, only through the continued uninhibited flood of ever cheaper labour into the UK ( excepting my part of Berkshire) can England and TTLP ever hope to compete on a world stage.

Of course at TTLP we recognise our responsibility to the environment. In 2005/6 we have been celebrating a diversity of materials and cultures. Mainly we celebrate straw, sticks and bricks. And Lithuanians. Certainly straw offers sharehoders greater returns per hectare. Every effort has been made to move away from the heavy and dangerous brick.

But why only a few first time buyers seem prepared to commit themselves to a lifetime's debt to own one of our 4BALE StarterSty's remains a mystery.

This year disappointments are few. A hefty write down on a fleet of BMW Mini cars used by our salesmen being the most notable. Inexplicably most were damaged.

Looking forward management sees major challenges. With interest rates returning to 4.75% and probably heading higher, plus expected credit tightening, and this on top of an indebted population,it looks about the time for me to retire. To some 36 might seem young but family and charity work has always been my first interest. Err, and my second interest.

The company though is in good shape - due to judicious tax planning we can record profits for years to come, even in the face of seemingly adverse market conditions. I expect to be able to enjoy plaudits at the golf club for long enough for it to look like my successors were the ones to screw it up.

THE WOLF

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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