Simon Thompson 

Conygar’s hidden value revealed

Simon Thompson

Simon Thompson

Half-year results from Aim-traded property vulture fund Conygar (CIC:150p), a constituent of my 2018 Bargain Shares Portfolio at 160p, have been weighed down by an £18.5m write-down on the carrying value of its site at Haverfordwest to reflect weaker demand from major housebuilders for its land parcels and potential home owners, too. I wasn’t expecting this, nor were analysts at house broker Liberum Capital.

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