Member Info for tara7

A 5% yield would cost just 1.5 million, so on £100M that yield could hit 50% and still leave a heap over.!!

We were told at the AGM and in the accounts divi on the way as soon as cash is on the books ie 9 months from today.

Poster on iii states results are out Thurs, and Mnr company web page says Sep. Those results will show Northaces updated share of the Lancasters profits. That was £41M in the last set of Minervas accounts. This new set will show the 205 of the site sold at 50% higher prices,[ as per RNS at the end of June 2010.] Northacres share is set to leap to in my view double todays Northacres Market cap of £30 odd million. Then double again in the accounts in 6 months time as more units are sold. My forecast for Northacre profits from the Lancasters is around £100M in total. Good luck and ask your self why a buyer has been so god darn keen to buy up stock for the the last 7weeks.!!

Northacre Londons only prime listed housebuilder, tiny debt if any, is looking to make the same anount of profit as here.C:£100M Northacres market cap is just 1/30th of that of PSN. That could be the reason for Northacres chart over the last few days.!!

Long way to go yet me thinks.

I would say its a bit of both, ie the odd sale now is fine but only at the right price,however they feel they are underselling the quality product, [without buyers seeing the Finished job.] Go to the Northacre web page at look into the 2010 report and accounts. That has a pic of what the Lancasters will look like, by god, its FAB.

Yes their was, MNR and NTA do not want fast sales at all, most investors are reading the book from the wrong page. The site has pre sold all it requires for costs to be covered. They want a great deal of them to only hit the market on completion , just like builders did in the pre 2 007 days. In the spring another 10% -20% can go on the prices, just as the last 3 springs prior.!!

Can be found on company web page, profits from the Lancasters have just shown up in a tiny amount that is under investments for sale[new accounts standards] The real profits only show at the end of the site 10 months time. All in land , build , loan cost is 215m and on budget sales 500m plus. Proft share RNS last week.!!!

Old timer has now sold , overhang gone.!!

Look cheap at a quid.!!!!!!!!!!!! Bassett1 Try look cheap at two pounds,or about right at £2.50 till we get more news. No need for cash what so ever, Intarya is doing so, so, well here and overseas i am looking at £5M plusT/O with £1M profit.

So with Northacre worth just £28M, with no or tiny debt the re rating goes on. Northacres gets 50% of all profits above the first 20%. and a fair lump under as well.!!! Thats many, many times its market cap today.!! But it gets better they have a £10M loss to use up to set off some of the tax.!!!!!!!!!!

Never understand why investors put tens of thousands of pounds into a company but do not show up at the AGM. The few of us their were told bags of news, updates, and so on. Still hard to take in , all costs £215M [not over budget] with sales running over £500M as the best are being held back.!! Do the sums,£ 500M less £215M = total profit.!! Then read last wed"S profit share RNS. With 55% sold[at the lower prices] the risk to new and old shareholders is reduced yet again.

AGM, was outstanding, directors very upbeat, costs cut, The Lancasters has covered all costs with 55% now sold. Profits are going to be higher than i dare to say, as build costs have been far lower than even i thought could be the case. Company is valued up to 4 times lees than the profits due from the Lancasrters. Thats why shares have yet to leave the station.

Lets start with the Land bank, and its value to the company. The vic in my view is worth around 10M of built in profit. Next the Goodwill, my real value of that is just £5M as i have never been keen on goodwill in any company. Next we have the two earners in the company, who could make a million quid this year, [int design and the arch] so £5M value on those. Now the big one the Lancasters, at todays prices, with half sold, Northacres profit share is in my view running in the region of £80M, with Minervas at around £100M.[mnr stated yesterday their share was running over twice the 37M they have put down to the banks] MNR would have to play very safe with that valuation at this stage of the project, so my view is the real profit for them will be 3x the £37M when all sold or £11O M. Thats gives us a value of Northacre of £100M less £20M tax = £80M less a charge for built in risk say £20M. I value Northacre today at a clear £60M, or £2.20p a share

Northacre are going to make a killing based on planning gain twice, low build costs, very cheap land, very good selling prices, and smart directors,

Boys, Go to Yahoo search "Minervas results and strategy" Then scroll down for cantos about 5 down. Then read the gross sales from Minervas two sites The Odeon and The Lancasters. Your about to learn why i am so bullish.

What are you on, those accounts are not drawn up for fun!!! It states MNR"S share, Northacres is the rest. Management charges, Fool, Minerva pay Northacre not the other way round. Stupid boy, you state the reason is for tax, daft. they use the profit to show asset value per share.!! Stay away from what you fail to understand.!! Nta accounts can not show the profit till it has been transfered to Northacre at the end of the project.

Please tell me where i have gone wrong, Profits of around £200M to split Broker reports for Minerva state 60/40 split. FACT £41M for Northacre in last set of MNR"S accounts. FACT The above based on 2k a ft now selling for 3k ft. Thanks.

This should be out at 7 AM in the morning. Any news re the Lancasters and you will find you will not be able to buy any amount of northacres shares, in my view.

Yes it is cos it takes no account of the growth from the Vic gate site and the new sites about to be bought, that add heaps to your calc"s.!!!!!!!!!!!!!!!!!!!!!!!1