23 November 2017
By Maynard Paton
Update on Mountview Estates (MTVW).
Event: Interim results for the six months to 30 September 2017 published 23 November 2017
Summary: It took MTVW’s chief exec just 265 words to describe the group’s weakest first-half performance for four years. Still, the nature of this property-trading firm means earnings can be somewhat variable from time to time. What is important, though, is that net asset value improved once again to a fresh high while debt continues to be reduced to a new low. My sums point to a possible NAV of £209 per share based on the firm’s long-term margin. I continue to hold.