Questor: we made easy money on this property developer – and now is right time to sell

When this column first looked at Harworth in June 2020 , shares in the land regeneration and property development specialist were trading at a 37pc discount to their net asset value of 156p a share.

That looked like good value and the shares have advanced smartly.

But the gain means that the shares, at 185p at last night’s close, now stand almost in line with their NAV of 178p.

While there is clearly long-term potential in Harworth’s portfolio of assets, it feels as if the easy money has been made and the cold, hard mathematics of valuation suggest it is time to (reluctantly) take profits.Harworth Group PLCFrom 1 Mar ’20 to 27 Mar20212022-40.0%-20.0%0.0%20%40%60% ⬤ Harworth Group PLC: 126.9 → 185.045.8% More share information on Make no mistake, last week’s full-year results from the Rotherham-headquartered firm were very good. In 2021 Harworth continued to actively manage its portfolio as it progressed planning permissions, […]

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