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About results next month, EPS growth is going to be significantly above market expectations here and it seems the market is only just waking up to that fact! Broker upgrades will undoubtedly follow results.

Some excellent upgrades on Bovis today from those with minds intelligent enough to see the bigger picture. Many things attract me to Bovis homes including its strong weighting to Southern England in areas with strong asp growth together with its ambitious medium term plans to almost double volume. Yet paradoxically the retrace since interim's, which were exactly as expected in analyst forecasts, have focused around the companies weaker Return on Capital and lower margin growth than peers. Yet these are easily explainable given the higher mix of social housing this half vs higher margined private completions- Return on Capital will be driven up massively as output stretches to 6000 units accompanied with stronger asp's as Southern England property prices rise as foretasted. Second half performance is foretasted to be much stronger as indicated in the companies trading update, hence why earnings growth of 29% for Bovis has been foretasted vs just 16% for Persimmon! The temporary difference in ROE and CE is the reason resulting in the current discount to sector peers (now substantial) yet this will be fixed over the next two years which should result in the strongest capital growth in terms of share price in the sector for Bovis Homes- Jim Slater advises looking for companies like Bovis with temporary problems such as this as a basis for value investing which must explain partly why he too is so very fond of Bovis. Look forward to outperforming the sector over the next couple of years!

http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/11806923/Housebuilder-Bovis-Homes-boosted-by-strong-housing-market.html "the industry as a whole may not be able to grow as quickly as we are.”

Agreed- bouncing back now anyway and as the figures are digested and the realization that profits are merely skewed to H2 this year sinks in progress will continue. The fact that profits have increased despite a drop in more lucrative private completions in the first half this year, which have fallen into H2, (overall volume offset by less lucrative social completions) is still impressive! Good buying opportunity this morning. Now look forward to Redrow and Inland FY over the next weeks.

In a report shared with investors on Monday, 17 August, Bovis Homes Group (LON:BVS) stock Overweight was reaffirmed by Analysts at JPMorgan. Terrace, for your information please see the definition of an overweight rating below: "1) Overweight as part of a three-tiered rating system, along with "underweight" and "equal weight", is used by financial analysts to indicate a particular stock's attractiveness. If a stock is recommended to be "overweight", the analyst opines that the stock is better value for money than others. 2. An example of an analyst's rating of overweight would be: The stock's return is expected to be above the average return of the overall industry over the next eight to 12 months." Clearly many analysts also expect Bovis to outperform the sector including myself. You will note that even Jim Slater has downgraded TEF from a buy to a mere hold.

Results exactly as expected as per the guidance given in last months trading update- as reiterated today, the profit profile this year is more heavily skewed to the second half than in previous years hence no smoke or fireworks today! This is not only in terms of volumes but also a stronger mix as can be seen when analyzing the current first half mix of completions in which private completions have actually dropped, being offset by an increase in social completions in this half. That will be reversed in the second half figures with far higher volume growth feeding through into the bottom line too. Some profit taking is always inevitable and often the case on announcement after a period of strong gains, I expect the share price to stabilise before driving forward as the market comes to its senses and digests the figures more fully- Bovis now clearly the best value buy in the sector with a price to book ratio of just 1.7 and lowest forward pe ratio. Currently a very strong buy and I have personally used todays retrace as a fantastic top up opportunity. Its business as usual for Bovis who have continued to strengthen both their consented and strategic landbanks, which will help underpin our medium term target of nearly doubling output to 6000 units. Ignore Terrace the Troll- never has anything insightful to say and tries to get a reaction by making moot, worthless points- best left filtered!

"However, land inventories were only in the books at £68m at the end of December, so as land is sold off to major housebuilders the company is set to reap some huge profits on its conservatively valued land bank. Moreover, analysts are warming to the potential upside as Mr Hall at finnCap notes that "as disposals come through in 2016 (along with progress at Wilton Park), confirmation of Inland’s worth may well suggest scope for a target price nearer 100p than our upgraded target of 80p at present." I agree and ahead of the full-year results next month I would run profits with the shares now priced on a bid-offer spread of 70.5p to 71p. My initial target price is 80p."

Simon thompson latest view, feel it is conservative myself but positive none the less: "Shares in Inland Homes (INL: 71p), the specialist housebuilder and brownfield land developer, are tantalisingly poised to take out the May high of 73.5p and make progress to my initial target price of 80p, and potentially my break-up value of 100p a share. If you followed my advice to buy the shares at 23.5p in my 2013 Bargain share portfolio (‘How the 2013 Bargain shares fared, 7 February 2014), I would resist the temptation to bank the 200 per cent paper gain just yet as some positive newsflow is likely to emerge in the next six weeks which should underpin the rally further. Firstly, investors are only just cottoning on to the 25 per cent profit upgrade following a pre-close trading update ahead of the release of full-year results next month. Ahead of that release, analyst Duncan Hall at broking house finnCap now expects the company to have increased revenues by 146 per cent to £98m in the 12 month period to end June 2015 and deliver a 74 per cent rise in pre-tax profits to £15m. Based on a lower tax charge of 20 per cent, compared to 34 per cent in fiscal 2014, this means that EPS is set to rocket from 2.7p to 6.1p and supports a 50 per cent hike in the dividend to 0.9p a share. On this basis, Inland’s shares trade on less than 12 times historic earnings and offer a dividend yield on 1.3 per cent. But if you run through the numbers, it’s clear to me that the robust south east of England property market is set to underpin a strong outcome for the current financial year to end-June 2016 too. That’s because land sales in the year just ended brought in proceeds of £39m and achieved £90,000 per plot for the 433 plots disposed of with planning permission. However, Inland has continued to grow its land bank since the financial year-end. So even after accounting for the sale of consented plots and residential units, it now stands at over 5,000 plots together with a significant amount of commercial space, including sites held within joint ventures and managed on behalf of the Drayton Gardens joint venture in west London. Marking consented land to market value and factoring in the value of investment and commercial properties held at their open market value, which are now bringing in £2m of rental income, I reckon that Inland has a break-up value of at least £200m, or 100p a share. Land undervalued in balance sheet For instance, the company has recently received a resolution to grant planning consent for 351 residential plots at the former Meridian TV Studios in Southampton. Planning applications for 329 residential plots across eight development sites are currently being considered by various local authorities with further applications for 1,196 residential plots to be made in the near future. However, land inventories were only in the books at £68m at the end of December, so as land

Bovis Homes.. the leading rising in the construction sector today. Interim results out in just over a week (17th Aug).

Downing ONE VCT plc PFS Downing UK Micro-Cap Growth Fund Client funds managed by Downing LLP Disposed of c. 500k shares over the past few days/week hence the downward share price pressure, presented a welcomed opportunity to top up.

A reasonable rise today, and interim's out in two weeks. Bodes well. Bovis still the best value buy in the sector.

Great results gents, more still to come.

Yep, prior to today's RNS though all we had to go on was their own financial diary which still states October: http://www.inlandhomes.co.uk/investors/financial-calendar Good update today, I'd be surprised if we are not trading c. 80p+ by results.

Yes Trading update end of July (but could slip into early Aug given the results are later than last year) but results not until October as per INL IR financial diary. Still a host of builders to post interim's and finals over the next few months kicking off with Taylor Wimpey next week which should provide a positive backdrop. I'm still buying at below 70p here.

Results end of July? They aren't until October! I expect to be trading above 80p by then. We might have a trading update at the end of July though like last year.. that will hopefully provide some profit guidance for the October figures and subsequent share price uplift, with a sum of the parts valuation now c. £1 this still looks very cheap.

Easing towards £5.. what a share this is, still dirt cheap. This will double inside three years.

hTTps://audioboom.com/boos/3379592-time-for-a-look-at-small-caps-with-carmensfella

Leading the sector surge! £12 in sight. I have penciled in £17 within 2 years (conservative target). I have similar gains penciled in for Redrow and Crest too- these three (along with INL) will be the best performing builders in the sector over the next two years.

Strong gains for the sector, with my three favorites leading the way- Bovis, Redrow and Crest Nicholson. This should remain the case for some time to come.

for the sector and epecially us today, given we fell less than most. Nice little article reiterating some reasons why Bovis is the best value: https://uk.finance.yahoo.com/news/bovis-homes-group-plc-better-104452375.html