Part 219 Feb 2015 18:12
This embedded value comes from the fact that its land assets are booked at cost. And since these are acquired at relatively low cost, there is significant value yet to be crystallised. In fact, analysts at WH Ireland reckon that a sum-of-the parts valuation would equate to a share price of about 105p. The current share price would have to nearly double to meet this.
Inland started paying dividends in 2012, but the payout is still modest, with the company instead using its capital to fund further acquisitions, although it's fair to add that the dividend in the year to June 2014 was more than doubled.