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over 3m quids worth! He still has a lot more but presumably he feels the current price i as good as it gets for a while.
Certainly interesting...
Many substantial buys yesterday.
Interesting
?
Good medium/long term play imho. Still has much in its favour. And just look at the share price graph!
breakout!!!
it would appear.....
Gleeson weathering the storm immensely well, the share just keeps on giving!
OK....just bought in...like the idea of north of England housing....hopefully where the growth will come as London has got too expensive....quality of life is much better in places like Leeds.....
Are you the same Herbie who posts on Saint Simons column in I/C ? Amazing, nothing posted here since your last. Cheers
What happened sp up 11% today?
goodwill for all builders shares...
MJ Gleeson (GLE) posted strong full year results with revenues up by more than a third at £81.4m and profits more than double at £12.2m. The company also has a record forward order book of £44.2m, up 71 per cent. We keep our buy rating.
Looking very good. Nice more than doubling of dividend. Outlook still excellent. Lennie
Still wondering why peeps are not fully digesting the last trading update and buying. I think there are enough clues in it to push the SP up significantly but since early July we are down. Results next Monday. Profit SIGNIFICANTLY ahead of expectations. Am I missing something? Gleeson Homes sold 561 homes during the year, an increase of 38% compared with the previous year's total of 406. The proportion of units sold on recently acquired, higher margin sites continued to improve with 84% of the units sold from the higher margin sites compared to last year's 75%. The increase in sales from these sites, along with the increase in the volume of sales, substantially improved the profitability of the business unit for the year. During the year Gleeson Homes remained active in purchasing sites. The landbank of owned and conditionally purchased plots at 30 June 2014 increased by 31% compared to the prior year, totalling 5,065 plots of which 1,815 plots have been purchased subject to planning permission. In addition, there are a further 1,600 plots which are in the pipeline to be acquired. The forward order book for Gleeson Homes at 1 July 2014 totalled £44.2m representing 356 homes, an improvement of 70% on last year's total of £26.0m. Gleeson Strategic Land continues to take advantage of the strong demand from the major housebuilders for green field residential land in the South of England. Gleeson Strategic Land successfully disposed of two land interests just prior to the year end, bringing the total number of land interests sold during the year to seven, which is ahead of expectations. The land disposals comprised 85 acres with the potential to deliver 617 plots for development. The business currently has four sites with planning permission and two further sites with resolutions to grant planning permission subject to entering into legal agreements. These sites have the potential to deliver 1,200 plots, a nursing home and 40 assisted living units. A further 16 sites are the subject of either submitted planning applications or lodged planning appeals and have the potential to deliver approximately 2,000 plots and 100 acres of commercial land. The strategic portfolio consists of 64 sites totalling 3,800 gross acres, which have the potential to deliver 21,000 plots. Following the year end land sales, and the stronger than expected performance by Gleeson Homes, the Group now expects to deliver a level of profitability from the business units for the year ending 30 June 2014, significantly ahead of expectations. The Group continues to be in a strong cash position with cash balances at 30 June 2014 of £13.8m.
eat it up
Looks like I'm talking to myself here but a great conversation as GLE is moving northwards at a fair pace. Some resistance perhaps around 380-400p but with results due at the end of the month we could see the SP over 450p if they are as predicted or better, which is what the construction is showing at the moment. Also hoping for a sizeable increase in the dividend. Any thoughts anyone ? DYOR. Lennie
Housebuilder Barratt Developments has reported a 103% surge in annual profits on the back of "sustained strength" in in the property market. It said pre-tax profit for the year to June was £390.6m from £192m last year. However, the company said the housing market was returning to "more normal seasonal trends" following "exceptionally high levels of activity" after the launch of Help to Buy. Average selling prices rose 12.9% in the year to £241,600, Barratt said. Total completions rose 8.6% to 14,838 compared with 13,663 a year earlier. Mark Clare, chief executive of Barratt Developments, said the significant improvement in the company's performance was the result of its £3.8bn investment in land since the middle of 2009, as well as the recovery in the housing market. Barratt is the latest housebuilder to report a significant increase in profits. Last month, Berkeley Group reported a 40% jump in annual profits following what it called a surge in economic confidence in the last year. It said pre-tax profits for the year to 30 April were £380m, compared with £270.7m a year earlier. It added there was capacity to increase house building with the continued support of the Help to Buy scheme.
Sell off overdone following director sells ( to pay for their tax liabilities ) ? Results due end of the month, will be looking for a good increase in the dividend yield following the expected good trading results. Looking good for a possible rise towards 400p? DYOR Lennie
don't leave it too late....well ...you want to make real money don't you?
around these levels ..thinly traded jumps around a bit chris mills has a large stake no harm in joining in on any further weakness
surprised off as much
Not sure why they have such ridiculous bid and ask as in reality it's currently 426:424p and not 430:417p. Nice bounce off 400p. Hoping we will now pass 450p and reach 500p before too long. Strong company only getting stronger. Lennie
Gleeson, which specialises in urban regeneration and land development, raised its interim dividend by 120 per cent to 1.1p for the first half as revenue and profit surged. Revenue jumped 32% to £34.4m in the six months through December as sales of homes rose 56% to 258 units and the gross margin improved to 25.9% to 24.2%. Operating profit grew 112% to £2.6m and pre-tax profit was up 107% to £2.7m. The company experienced increasing demand for homes in line with the rest of the market. Government schemes such as Help to Buy have helped spur the UK housing sector and boost prices. Gleeson said 44% of completions benefitted from the scheme during the first half. The average selling price for the units sold in the period increased to £120,000 from £115,000 the previous year. In the Strategic Land division, revenue fell to £1.5m from £7m in 2012 following two land sales with a combined acreage of four acres, down from the prior year's three land sales with a combined acreage of 13 acres. The group's net cash balance at the end of the period was £7.7m, reflecting a net cash outflow of £2.3m. Looking ahead, the company expects improvements in the group's trading performance in the current year and beyond