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:
Find more news, interviews, share price & company profile here for:

    JPMorgan European Discovery Trust reports strong performance uplift in latest factsheet

    JPMorgan European Discovery Trust reported a 5.37% share price rise in July 2025, outpacing NAV and its benchmark. Year-to-date, the share price is up 34.17%, supported by strong small-cap performance and effective stock selection.

    Golden Matrix reports record August revenue of $17.8m, up 18% year-on-year

    Golden Matrix posted record August revenues of $17.8m, up 18% from last year, with July revenues also rising 24% to $15.7m. Strong performance came from Meridianbet’s sports betting and RKings’ tournaments, positioning the group for record Q3 results.

    HUTCHMED to present new lung cancer and oncology data at WCLC and CSCO 2025

    HUTCHMED announced that updated data on savolitinib in NSCLC and other pipeline compounds will be presented at the World Conference on Lung Cancer in Barcelona and the CSCO Annual Meeting in China this September. Presentations include studies on savolitinib, surufatinib, fruquintinib and first-in-human results for HMPL-653.

    Surface Transforms appoints Paul Marr as Non-Executive Director

    Surface Transforms has appointed Paul Marr to its Board as Non-Executive Director. Marr brings over 40 years of global automotive manufacturing and operational leadership experience, including senior roles at General Motors and other international groups.

    Avation signs 12-year lease for ATR 72-600 with Cambodian airline

    Avation has agreed a twelve-year lease with a Cambodian carrier for a new ATR 72-600, the second of ten aircraft ordered in 2024. Delivery is scheduled for February 2026.

    Tern Plc delivers stronger interim results with reduced loss and portfolio growth

    Tern Plc reported improved interim results for the six months to 30 June 2025, with a 64% reduction in loss, disciplined cost control, and a new strategic investment in Sure Ventures plc. The company also strengthened portfolio support through successful fundraises.

      Search

      Search