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http://www.lse.co.uk/share-regulatory-news.asp?shareprice=INL&ArticleCode=6ellxv3x&ArticleHeadline=Agreement_signed_for_Wilton_Park_Beaconsfield One of the best development opportunities in South East England !
At the current price the company has a market value of £100m or around 1.5 x price to book value once you factor in the £10m or 5p a share of future net profits from its Drayton Gardens jv in West London. Not expensive compared with other listed house builders, some of which are valued on 2 x book value or more. Broker finnCap expecting Inland's pre tax profits to rise a further 40% to £7m in the current financial year to June 14, before hitting £9m in 14-15, the prospective earnings multiple is set to drop from a forward PE of 18 to 14. Those profit estimates look conservative even after factoring in a 25% rise in forecast revenues to circa £40m in the next 12 months to June 14 rising to circa £60m the year after. Inland is on course to ramp up output to 140 residential completions in the current financial year rising to 235 homes in 14-15. There is ample scope for these revenue estimates to be beaten as house prices rise and that means earnings upgrades. Help to Buy, BoE Funding for Lending and the benign monetary policy of BoE means we can expect low interest rates to stay for the next year at least. Inland is targeting the sweet spot of £160K to £400K range of selling price - so ideally placed to take advantage. A 10% house price movement on a £250K property could add £12K to a plot value, across 2,300 plots this is £27.6m or a 13.7p a share boost to net asset value. Even if property prices rise modestly, Inland's shares are probably only trading in line with their book value as of June 15 once you mark the land bank to market value. If house prices rise a at a faster rate then this will have a dramatic effect on the value of Inland's land bank and in turn net asset value. A likely positive update on trading next Wednesday. Fair value target has been upgraded from 50p to 60p.
well a wonder stock will always go in the right direction. GL if you are still in there jolly and don't forget the AGM is a great place to vent your proverbial Sorry ot for everyone else. Back to INL.
at least these directors are buying!! Always a sign of confidence don't you think, selling clearly gives the opposite message.
Barrington, couldn't agree more well done you - great price.
regarding asset cover.. due a re rating soon great potential and in the right locations, south east. This has plenty of griwth within it. Buying on the dips is a great opportunity. Even Jolly might get his target opening.. lol
Laureate, it depends whether you are looking for short term or longer term gains. I would take a look at some of the presentation material regarding the BoD's strategy, financials and performance so far, e.g. margins and compare it to some of the others in its sector. The construction sector will always have high nav in an upturn and MCap and nav are like many other indicators, a snap shot and rear view. The question for me is what are the potential future earnings hence looking at some of the investor presentation material and researching. But then I am (generally) not a short term trader. I look for medium/long term value. This is due a re-rating probably on the back of next trading statement. Just my opinion so as always DYOR.
"Brownfield regeneration specialist Inland Homes (INL) is in a real sweet spot at the moment. The company specialises in increasing the value of land by pushing it through the planning process - it currently has a land bank of about 2,300 plots - and also has a number of mixed-use developments on the go. Given the nature of the business and the high sensitivity of profits to house prices, the government's attempts to stimulate the housing market with policies such as the Help to Buy mortgage guarantee scheme are a massive boon for Inland. The company is also taking advantage of the government's efforts to make it easier to convert buildings such as offices to residential use by buying up buildings and readying them for conversion to flats. With the government seemingly heavily focused on revving up the housing market, Inland's profits could soar over coming years.' Together with increase Director buying, this has great potential.
that is quite an amusing statement considering some of the other shares you have an interest in. Most good companies like Inland are trading at just such a premium to nav. The potential here is really good imo.
So did I and makes a change for me to be immediately in profit.
Yep, there's confidence for you....
Hi, no not aware of any new news.
Write up in IC Property analysts at broker Oriel Securities predict that Terrace Hill will report an end-September 2013 net asset value of 31p a share when the company releases its full-year results at the start of December. On that basis, the shares are trading on a 26 per cent discount to book value. In my view, such a discount is wholly unjustified once you consider the potential for value creation in the remaining commercial property developments.
Another great write up and recommendation in IC. A buying opportunity Shares in Inland (INL: 39.25p) have retreated by around 10 per cent from their September high of 44p and now offer over 20 per cent upside to my upgraded target price of 48p ('A buying opportunity ahead of the results', 25 Sep 2013). That's attractive to me and also to Duncan Hall, an analyst at broker finnCap, who has just upgraded his target price on the shares by an eye-catching 50 per cent to 60p. He has every reason to upgrade his fair value estimate too. That's because Inland is ramping up its housebuilding operation just as the housing market recovery is gathering steam, which should underpin a very sharp rise in profits. In fact, the government is doing everything to make sure that the feel-good factor of rising house prices will be spread countrywide by the time the next election in May 2015. That gives us 18 months of a potential good news story to rise on the coat-tails of.
Looks like a bit of profit taking, don't forget we have said a significant rise in the past few weeks.. Really good set of results and a great price to get in at imo. This is a keeper for me.
As a result of this increased activity, total Group revenue, which includes revenue from land and house sales, rental income and project management fees, increased by over 400 per cent to GBP31.12 million (2012: GBP6.11 million). Gross profit was nearly doubled to GBP7.69 million (2012: GBP3.89 million) with a margin of 24.7 per cent and operating profit was up over 370 per cent at GBP5.08 million (2012: GBP1.06 million). Profit before tax was up over 225 per cent at GBP5.21 million (2012: GBP1.60 million) translating into a near fivefold increase in earnings per share of 1.98p (2012: 0.41p). Net asset value per share increased to 28.7p (2012: 27.0p). These financial results exclude the future value from the development services provided by the Group to DGVL where Inland's profit share is expected to increase from the current level of 74 per cent to 90 per cent by the end of March 2014 once the outstanding deferred consideration of GBP6.7 million for DGV has been paid. The Board anticipates that Inland Homes' share of the future profits from DGV should be in the order of GBP10.1 million net of tax which is equivalent to 5.0p per ordinary share. Shareholders will appreciate that the unrealised profit, resulting from the difference between the market and carrying values of the Group's land bank, is significant. The Group finished the period with cash reserves of GBP12.2 million, with net gearing reduced to 6.7 per cent (2012: 13.0 per cent).
At the time of our 2012 results, the Board announced its intention to adopt a progressive dividend policy. In line with this policy, and reflecting these strong results, the Board is recommending a fourfold increase in the final proposed dividend of 0.27p (2012: 0.067p) per share if approved by shareholders at the Annual General Meeting which is expected to be called for Thursday 5 December 2013. The final dividend will be paid on 6 January 2014 to shareholders on the register at the close of business on 6 December 2013. The ex-dividend date will be 4 December 2013.
An excellent set of results. Well done Inland. http://www.lse.co.uk/share-regulatory-news.asp?shareprice=INL&ArticleCode=k7prpfb0&ArticleHeadline=Preliminary_results_for_the_year_to_30_June_2013
Oops picked up the wrong article, that one was from 2009 Here is a snippet from the one Written a couple of days ago. Positive technical set-up Interestingly, Conygar's share price has traded in a tight range between 123p and 131.7p for the past 10 weeks. The 14-day RSI is neutral, currently giving a reading around 50, while the price is sitting on the 50-day moving average at 128p. That trend line has offered strong support all this year and every time the shares pull back to the 50-day moving average a decent rally has ensued. In my opinion, a breakout of the trading range is not just likely but could be imminent. The combination of director buying, a share repurchase programme, positive newsflow on the development pipeline and the embryonic signs of a recovery in regional property markets as investors head out of London to take advantage of the high yields on offer and play the economic recovery, is an attractive mix. Add to that a likely sizeable uplift in the company's net asset value when it reports full-year results at the end of November and the odds favour a positive outcome. Needless to say, I rate the shares a trading buy on a bid-offer spread of 128p-131p. My three-month target price is 150p, subject to a likely upwards revision post the forthcoming results.