We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Its wrong.. come on, as if the revenue will drop 700% in one year and the EPS will drop 300%! Hilarious forecasts, they even have the the same revenue and eps the year after next- good for a laugh.. common sense required this is a growing company that has delivered year on year revenue and eps growth that is set to continue.
Astonishing value in this share!!! What a buy this is.. results out soon too! The PE of 8 is almost laughable!
Stunning set of results .Well done
I had been getting a bit impatient with this share. Today's news is just what we need!
I see that Simon Clarke has been selling off tranches for quite a few years now, which seems a sensible way of divesting himself. This has to be done gradually - look at Mike Ashley at Sports Direct - big placing and big sp drop. I still think that this company has a good future and possible t/o prospects once the shareholding is no longer concentrated. Let's hope GLA DYOR
Yes I agree the founding family are not big players in the company so it's probably just time for them to cash out in my honest opinion
The founding families sell shares to the tune of £31M and down go the shares by over 4%. Not worried as more scope for outside investors to buy in and to my mind this is a good company with the right ideas but DYOR
. . . . "Outlook for profit before all tax for the year is therefore likely to be substantially ahead of previous management expectations. . . .". That sounds pretty good to me.
Anybody know why the sp has come back sharply in the last few days and in aprticular today. Sector peers all rising. Is it just thin trading or something else despite the good results recently?
Doing very well indeed!
Moving up in nicely since my last post. With New Covent Garden and Swansea Uni projects, this is looking good.
Nice RNS plus Blackrock's holding has gone above 5%.
Dilution is 10%, hence similar SP reduction
Why this massive reduction on the placing announcement....? it cannot be dilution surely ?
Chief Executive Bill Oliver Modwen commented: "We have achieved some significant milestones across our portfolio and, in particular, on our major development projects. These achievements underline our growing presence in the London and the South East market while also proving that there are still opportunities in the regions for well-placed and well-priced product." He added: "We cannot ignore the current upsurge in investor appetite for development activity in London and the South East and the prospects arising across the UK from our residential portfolio. We will therefore focus our attention throughout the coming year on these specific areas in order to drive optimal returns, as well as advancing our larger schemes, including of course the New Covent Garden Market and Swansea University developments." The final dividend for the year has been increased by 10% to 2.42p per share, giving a total dividend of 3.63p for 2012.
Regeneration specialist St Modwen Properties reported a solid increase in annual net asset value and profit and issued an upbeat outlook for future developments. NAV increased 8% to 251p per share for the year ended November 30th 2012 while EPRA NAV gained 9% to 272p per share. St Modwen said it was on track to deliver its target of shareholder equity NAV of 300p per share by November 2015. Pre-tax profit for the year increased to 52.8m from 51.7m the same time a year earlier. Realised property profits were up 22% to 29m. Net rental income grew to 36.2m from 35.5m and it reported a 12% increase in net trading profit to 25.5m. Operational highlights during the period included the signing of a 2.0bn regeneration agreement for New Covent Garden Market and a 150m deal to develop Swansea University with work scheduled to commence in the first half of 2013.
St Modwen (SMP) Share price: 226p Strong growth in housebuilding arm Shares trade 16 per cent below net asset value
Chief Executive Bill Oliver commented: "Our robust business model and our practical, hands-on approach to development and asset management have enabled us to perform consistently well throughout the year and build on the strong results produced in 2011." St. Modwen, which launched a retail bond in October said the, "positive reaction to the retail bond was a clear endorsement of the attractions of our track record, our ability to generate development gains and our income producing portfolio, and are confident that we are well placed to continue our strong performance to the benefit of all our investors." Meanwhile it reported 276 house sale completions in its first full year of housebuilding activity in the UK. Just over a 100 were with its Persimmon joint venture and 175 were St. Modwen Homes. Net rental income for the year is expected to be ahead of the results achieved in 2011. Year-end debt levels are expected to be in line with levels of May 31st.
Regeneration specialist St. Modwen Properties said expectations for the full year remain unchanged after strong momentum across the entire group. The group, which has increased its focus on the residential market, said its residential business is moving from strength to strength, with good sales rates and ongoing demand for its land. The property developer, that owns the Elephant & Castle shopping centre in south east London and is leading the redevelopment of the New Covent Garden Market project, said it is experiencing good levels of demand for the land it sells and achieving price levels at or above book value. It continues to secure planning permissions across the UK with the most recent being East Staffordshire Borough Council's approval of plans to create a 30 acre development on disused parts of the Pirelli Factory Site in Burton upon Trent, which will include up to 300 homes, a hotel, restaurants, public house, offices and commercial units. St Modwen expects to deliver property development profits for the year ended November 30th 2012 ahead of 2011. It said its focus on generating development profits remains unchanged to ensure the future growth of the group in 2013 and beyond.
St. Modwen Properties: Peel Hunt reduces target price from 235p to 250p; buy recommendation maintained.
Beware of sharechat tipsters they get you into trouble although followed Stephs threads from TW to Telford Homes which have exceeded all expecations despite me initially thinking they were based somewhere on the M54 If property is your bag and you dont mind waiting Terrace Hill and Conygar Investments look likely to profit by any upturn both shares trading at substantial discounts to NAV with good directors and a pure punt which has already tarted performing is Strategic Natural Resources where Andy " Midas Touch" Ruhan and his brother have a stake Andy who a few years back was a director of St Modwen before joining Kingspark/Prologis
too expensive for me at the moment, did very well out of these last tax year, drove past longbridge site the other day i have to say who ever chose the colours of the building needs sacking yuk !. Been out of dealing much this year still sitting on a significant paper loss with KAZ, finding it difficult to find anything to buy, anything that catches my eye, any tips welcome
This has been a huge performing share over the last 12 months not far off a 1 bagger.However it has notr provoked much discussion on this board It cant have gone unnoticed and therehave been reasonable volumes so why the lack of comments here
I visited the ex Llanwern Steelworks site last week SMP cracking on with the infrastructure Persimmon have already completed first batch of housing and they are being sold Couple of large business space enquiries all looks very promising
SP continue to rise. Wonder whether the nav of 2.44 will be a barrier to further rises? Most property companies trade at a discount to nav