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Another 40K at a good low price before the rise ....
Inland Homes announces that on 6 July 2022 it purchased an aggregate of 40,000 ordinary shares at a volume weighted average price of 30.69 pence
10,000 30.25 08:42:53
30,000 30.84 10:58:29
BUYS all morning at 33.36p, but the last one has gone higher to 33.51p, It looks like the MM is running out of cheap shares.
33.30p +1.30p (4.06%)
Market Report this morning
The Halifax said the UK housing market remained strong.
UK house price growth accelerated in June, defying expectations that the market will cool as consumers face pressure from rampant inflation.
According to Halifax, UK house prices rose 13% yearly in June, the strongest growth since late 2004, accelerating from an 11% rise in May.
Monthly, prices rose 1.8%, hitting GBP294,845, another record high. House prices have now risen for 12 months on-the-bounce, Halifax noted. In May, house prices had risen 1.2%.
33p +3.50p ( spread 32 v 34p ) UT @ 32p
On the bounce today
Chart with comments ... https://uk.advfn.com/p.php?pid=chartscreenshot&u=cP171PILaOUI2lxjNOBLUMbzMxof81kybHLbVMxd7x8%3D
The volume buying has increased in a great deal
Also, volume and rising is BULLISH
chart with volume.... http://uk.advfn.com/p.php?pid=staticchart&s=L%5EINL&width=600&height=205&p=2&t=23&dm=2&vol=1&cb=
Nice to see the train is moving close to the full gear 33p +2.00 (11.86%)
31p +1.50 (5.08%) Moving alright 30 v 32p
and Level 2 also improving on the bid side, with plenty bidding
intraday char... t http://uk.advfn.com/p.php?pid=staticchart&s=L%5EINL&width=275&height=330&p=0&t=1&cb=
WHY?
After the poor results last week and high debt, the company has announced 2 land sales than will bring the debt down to a more realistic comfort. The lower share price compares to the NAV of over 100p, should get moved back up, as there is support around this price 30p.
Large buy trades this morning and improved Level 2 to a minimum offer
Inland Homes announces that on 5 July 2022 it purchased an aggregate of 60,000 ordinary shares at a volume weighted average price of 30.62 pence
Following the above purchase, there are 230,126,045 ordinary shares in issue, of which 2,087,178 are held in treasury and do not carry voting rights.
20,000 30.75 08:57:11
40,000 30.55 10:05:08
Again I'm not sure how positive today's RNS actually is. They have had up for sale existing houses at Wilton for some time, so it could be the conclusion of that process, and there is the question of how much actual cash has already been accounted for.
Another 75K less in the market, with buying at different times of the day ...
Inland Homes announces that on 4 July 2022 it purchased an aggregate of
75,000 ordinary shares at a volume weighted average price of 30.76 pence
25,000 31.55 08:12:19
25,000 29.40 10:27:12
25,000 31.34 16:22:30
I'm not sure if they apportioned that £12mill when they announced it in Oct 2020 or whether it hits now (and reduces it to £84m as you say). I took the deal to be an unconditional exchange with a delayed completion hence me thinking that it's already been accounted for. Might be wrong however. Most probably wrong.
The broker Panmure Gordon doing the buying for the company, I would say is useless, despite seeing the share price falling and the best price in the past is buying close to the end of the day, On Friday bought at the start and paying 36.66p, but of course is not their money.....
Inland Homes announces that on 1 July 2022 it purchased an aggregate of 65,000 ordinary shares at a volume weighted average price of 34.80 pence
27,000 36.66 08:01:27
25,000 34.00 08:10:17
13,000 32.50 08:36:14
I read, 12M reduction in debt. Is that not 84M debt?
Agreed - all it will do is change the £96mill of debt to perhaps £95mill. Every little helps and all that. Or does it.
They need a new land sale announcement.......but I'm not sure they've got anything oven-ready that they can actually sell and that people want.
In some ways today's RNS seems like an almost desperate move for some good news, given that it was something previously announced. I would be interested to hear what others think
about the working capital part, to me it points to a company short of capital.
Today's problems is tomorrow's nightmares .Potentially uncapped construction cost problems occurring in a number of low proft margin partnership schemes
Another 30K bought, naturally today they will able to buy cheaper, currently 33 v 34p .....
Inland Homes announces that on 30 June 2022 it purchased 30,000 ordinary shares at 38.25 pence
--------------------
Note
Happy to follow the stock at the moment and see how it pans out. I had a punt last April 6th and managed to get out with 3.40p profit after 3 weeks.
You can see my opinion has changed ( from Strong buy to no opinion since )
Today's problem...
It seems Simon Thomson from Investors Chronicle has said Sell
so small PI's were busy with their 5K
Oi Oi,
Pleased on your behalf to hear you're out....
Inland seems to have become the Vicky Pollard of the house building sector....?
That used to be Galliford's mantle :-)
Strictly
Managing to buy another 25K in two lots 10+15k same price.....
Inland Homes announces that on 29 June 2022 it purchased an aggregate of 25,000 ordinary shares at a volume weighted average price of 38.89 pence
The Market should have been informed of the problem at that date and was not, till now ....
"On 6 May 2022, the Group was informed by DCB (Kent) Limited (DCB), the main subcontractor for our development in Alperton known as Afrex House, that they were being placed into administration."
Yeah, the £4mill extra needed to complete one of their partnership housing contracts. How many housing contracts have they got I wonder? I bet that's why the MD went - he's got the list of them in front of him.....and he's looking at the next 12 months and just seeing hell on earth....thinks 'I'm out of here'.....And the construction director (because he'd be getting it in the absolute neck by the Board every day. Life really isn't worth it....so he went too. And that meant that key technical manager, whom left, started to be exposed to some of that vitriol.....so he went too.....
39p feels like the high-tide mark at the moment (whatever happens to the spike today no doubt) for the share price imo.
Others might see it differently - and see that 39p is the low water mark and that 50p is really where it's at. BUT they've still got £96mill of debt.....and I seriously think there are other cost over runs too elsewhere. Interested to hear others thoughts. I'm out of INL at the moment but it's the one share I monitor more closely than anything else. I want to be invested here...but not at the wrong price.
Yet more construction problems .It doesn't augur well for the rest of their schemes These are continuing problems and potential cost overuns in all the BTR contracts they have engaged in
This is all basic stuff they should be getting right
Managing to get 2 lots 40K below yesterday's price ....
Inland Homes announces that on 28 June 2022 it purchased an aggregate of 40,000 ordinary shares at a volume weighted average price of 39.17 pence
25,000 39.27 08:27:04
15,000 39.00 15:58:04