IC15 Dec 2015 16:34
IC VIEW:
Inland does not revalue its land bank, which is held at the lower of cost or net realisable value. Analysts at Stifel reckon that adjusted net assets, which will be presented for the first time at the half-year results in April next year, will indicate June 2016 year-end net asset value (NAV) of 93p, rising to 107p by June 2017. At 75p, the shares are up since our buy tip (57p, 19 Feb 2015), and given the discount to forecast NAV, we stay buyers.